filename,text
IMAGES-004-HOUSE_OVERSIGHT_017367.txt,"4.2.12
WC: 191694

By far the greatest legal blunder of the 20"" Century was committed by President Clinton’s
lawyer in the Paula Jones case, Robert Bennett. Bennett allowed his client to be
questioned under oath in a deposition about the details of his sex life and to deny that he
had sexual relations with Monica Lewinsky. This sworn denial became the basis for an
impeachment investigation and opened the way for the President to have to testify in front
of a grand jury. The Paula Jones case should have been settled immediately after the
President’s reelection in 1996. If Paula Jones’ lawyers refused to settle the case, Bennett
could have advised the President simply to default — that is to pay the money and refuse to

contest the charges. Bennett never even told Clinton about this option.

The second greatest blunder, believe it or not, was also committed by Bennett. After
walking his client into the perjury trap, Bennett himself helped to spring it. Not content to
let the President answer the opposing lawyers’ questions, Bennett did the unthinkable: he
asked the President to affirm, under oath, the truth of Monica Lewinsky’s affidavit
without having asked Lewinsky what she meant when she said she had not engaged in
sexual relations with Clinton. Then, Bennett mischaracterized the affidavit by saying that
the affidavit indicated that “there is absolutely no sex of any kind in any manner, shape or
form.” Finally, in a “cover your ass” letter to the court, Bennett implicitly blamed his client
for misleading the court, instead of forthrightly acknowledging his own failure to find out
what Lewinsky meant by sexual relations. These blunders give Bennett almost unique
bragging rights as the only lawyer in American history who has helped his client get
impeached.

At the very beginning of the Lewinsky matter, I had received a call from someone close to the
White House giving me the phone number where Monica was staying and urging me to call her. I

280

HOUSE_OVERSIGHT_017367
"
IMAGES-012-HOUSE_OVERSIGHT_033401.txt,"From: J [jeevacation@gmail.com]

Sent: 2/19/2019 8:24:07 PM
To: nicholas.ribis in
Subject: Trump Officials Tried To Rush Nuclear Technology To Saudis, House Panel Finds

Trump Officials Tried To Rush Nuclear Technology To Saudis, House Panel Finds

https://www.npr.org/2019/02/19/695954246/trump-officials-tried-to-rush-nuclear-technology-to-saudis-house-
panel-finds?ft=nprml&f=1001

HOUSE_OVERSIGHT_033401
"
TEXT-001-HOUSE_OVERSIGHT_023062.txt,"Date: Friday, March 4 2011 05:21 PM 
Subject: Re: Fwd: FW: Ghislaine Maxwell 
From: Jeffrey Epstein <jeevacation©gmail.com> 
To: 
Privileged - Redacted 
On Fri, Mar 4, 2011 at 9:20 AM, Alan Dershowitz 
Privileged - Redacted 
Sent from my Verizon Wireless BlackBerry 
wrote: 
From: Jeffrey Epstein <jeevacation@gmail.com > 
Date: Fri, 4 Mar 2011 08:37:01 -0800 
To: Alan M. Dershowil 
Subject: Fwd: FW: Ghislaine Maxwell 
; Privileged - Redacted 
----------Forwarded message---------- 
From: GMAX <gmaxlgellmax.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 <gmaxl@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. 
From 
Sent: Friday, March 04, 2011 11:12 AM 
To: Brett D. Jaffe 
Subject: Ghislaine Maxwell 
Dear Brett Jaffe, 
I left you a telephone message earlier. The Mail on Sunday newspaper is running a story on Ghislaine 
Maxwell, Jeffrey Epstein, Prince Andrew and others this weekend. 
We urgently require responses from Ms Maxwell to the following questions. Our deadline is noon 
HOUSE OVERSIGHT 023062 
tomorrow. My telephone numbers are 
Annette Witheridge 
On behalf of the Mail on Sunday 
1. says Ghislaine Maxwell offered her a job as a masseuse with Jeffrey Epstein when she was 
aged 15. Ms Maxwell led upstairs on her first visit to him at his Palm Beach house. Mr Epstein was 
naked on massage table. 
Ms Maxwell initiated a bisexual encounter during which Ms Maxwell rubbed her own breasts on Mr Epstein 
and directed to copy her. 
Please respond to these allegations and all others in the original Jane Doe 102 complaint. 
2. Ms Maxwell took part in numerous other sexual encounters involving her assistant 
and Mr Epstein. 
3. Ms Maxwell kept sex toys and costumes in the Palm Beach mansion and dressed MIM. prior to sex 
sessions with Mr Epstein. S Maxwell herself wore black vinyl during sex sessions with Mr Epstein. 
4. 
men. 
was paid between US $200 and $ 5000 US sex, depending on whether it involved travel and other 
5, was required to have sex with friends of Ms Maxwell and Mr Epstein, including Glenn Dubin, Les 
Wexner, Ehud Barak, former Senator George Mitchell and Stephen Kosslyn. 
6. Ms Maxwell introduced to Prince Andrew in 2001 at Ms Maxwell's London house where 
had sex with him._________ subsequently was directed to meet him at Mr Epstein's New York house where Ms 
Maxwell directed to sit on Andrew's knee with Andrew groped both girls. Ms 
Maxwell directed after this to have seTwith Andrew. 
Ms Maxwell and Mr Epstein subsequently travelled with to Little St James where she was directed 
to stage an orgy for Andrew and Mr Epstein during which she performed oral sex on 
them. 
7. was paid extra by Mr Epstein or his employees for these sexual encounters. 
8. Ms Maxwell knew age and laughed about it when she introduced her to Andrew. 
9. Ms Maxwell and Mr Epstein tried to persuade to bear his child. 
10. After sexual encounters with male friends of Mr Epstein and/or Ms Maxwell, Ms Maxwell and Mr Epstein 
would ask explicit questions about what went on. 
11. Mr Epstein's residences in Florida and New York had surveillance cameras that taped the sex sessions and 
taped even in the bathroom. 
12. Ms Maxwell and Mr Epstein arranged for Ehud Barak to have sex with several girls, often at Mr Epstein's 
Palm Beach house. 
13. Ms Maxwell piloted President Bill Clinton in a helicopter to a dinner on Little St James where two 
brunettes Ms Maxwell, and Mr Epstein were at the table. 
14. Mr Epstein bought Ms Maxwell the helicopter, homes in New York and London and a Mercedes. 
HOUSE OVERSIGHT 023063 
End of Forwarded Message 
*********************************************************** 
The information contained in this communication is 
confidential, 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 
HOUSE OVERSIGHT 023064 
"
IMAGES-003-HOUSE_OVERSIGHT_015776.txt,"86 Are the Androids Dreaming Yet?

most meetings an hour, there are another 57 minutes to fill! These off
topic items bring in social experience and help us form the background
context we need to properly communicate.

What is Background Context?

Alex and Bella are both fans of the British comedy duo, the Two Ronnies,
and enjoy their learning Swedish sketch. Bella asks Alex what kind of
sandwich he wants for lunch. Alex replies ‘M’ Bella laughs. If you have
seen the sketch you will understand the background context to the joke.
If not this paragraph might as well have been in Swedish. Take a look at
the sketch on YouTube and reread this paragraph... Now you understand.

Do I think in English?

Most scientists believe we think thoughts using language, but most
scientists writing about thought are linguists or psychologists. If you are
a dyslexic engineer like me, language is a long way down the processing
chain. I think abstractly and then translate those thoughts into words.
Some ideas don’t map between languages and often, one language adopts
the words of another to fill in the gaps. Some interesting examples are:

Zeitgeist German, spirit of the times
Schadenfreude German, enjoying others misfortune
Chutzpah Hebrew, audacity

All of these are fully signed up, card carrying entries in the Oxford
English Dictionary.

Some languages have fewer distinctions between ideas: truth and
law are the same word, ‘torah, in Hebrew. Languages have different
tenses and structure. In Chinese all words are one syllable and the script
is pictographic rather than phonetic. This is unusual, even Egyptian
and linear-B, which look pictographic are mostly phonetic. With single
syllable words, Chinese uses voice inflection to change meaning; a rising
or falling tone can change the meaning of a word from ‘grey’ to ‘girl’
In many Western languages rising voice inflection is used to indicate a
question, as in Australian English or irritation, as in English English. So
how do the Chinese show if they are annoyed or want to ask a question?
They elongate their words and accentuate the changes in intonation.
An argument in Chinese can sound quite alarming to the Western ear,
with its percussive monosyllables and extreme inflection changes. This

HOUSE_OVERSIGHT_015776
"
TEXT-002-HOUSE_OVERSIGHT_031806.txt,"From: Paul Barrett 
Sent: 7/13/2018 6:13:06 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
CC: Richard Kahn 
Subject: RE: AVGO 
Attachments: image003.jpg; image001.jpg 
Importance: High 
My initial recommendation this morning was to buy the $200 Aug puts. I 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 I 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 
Alpha Group Capital LLC 
142 W 57th Street, 11th Floor, New York, NY 10019 
ALPHA GROUP 
CAPITAL 
From: jeffrey E. <jeeyacation@gmail.com> 
Sent: Friday, July 13, 2018 1:55 PM 
To: Paul Barrett 
Cc: Richard Kahn 
Subject: Re: AVGO 
lye had enough!!!! Which puts ??? 
On Fri, Jul 13, 2018 at 1:40 PM Paul Barrett 
Any thoughts on the AVGO Aug puts? Stock trading at 204.50. 
Aug puts now $6.50 
Paul Barrett 
Alpha Group Capital LLC 
142 W 57th Street, 11th Floor, New York, NY 10019 
ALPHA GROUP 
CAPITAL 
From: Paul Barrett 
Sent: Friday, July 13, 2018 9:42 AM 
wrote: 
HOUSE OVERSIGHT 031806 
To: jeffrey E. <jeevacation@gmail.com>; Richard Kahn 
Subject: RE: 
Jeffrey 
I understand your frustrations and appreciate your willingness to figure out a solution. I have some ideas which I will 
send you over the weekend if that is OK. 
Re Broadcom: the stock is up $1.20 at $211.50. After the initial shock reaction of yesterday, there has been a lot of 
focus on the cost synergies etc. but very little conviction in revenue opportunities. However until we hear from 
management as to the overall intentions of the deal, uncertainty will linger. 
This morning the pricing is as follows: 
Aug 200 Puts cost $4.10 
Sept 200 Puts cost $7.90 
Earning are on 08/30. So worst case is the uncertainty lingers until then which would argue to buy the Sept puts. 
However I still prefer buying the Aug puts as I would fully expect more clarity from management before August expiry. 
Paul 
Paul Barrett 
Alpha Group Capital LLC 
142 W 57th Street, 11th Floor, New York, NY 10019 
a 
ALPHA GROUP 
CAPITAL 
From: jeffrey E. <jeevacation@gmail.com> 
Sent: Friday, July 13, 2018 7:11 AM 
To: Paul Barrett . 
; Richard Kahn 
Subject: _ 
Im not angry, sorry, it is sad. it is apparent that you have no experience trading. we both made a mistake. . the 
spy trades were the results of a rank amatuer.. you took a postion on the direction of the market. ok. you 
decided to play it extra short time and short. . why? becaue the options are cheaper. ? knowing full well that time 
premium was running. . first silly move. . I allowed as promised to give you authority. . you set a target. . it hit the 
traget, you moved in back. based on media reporting on trump visit? you didnt act. the market dipped and you 
panicked. . AMATEUR. wrong options wrong timing, no discipline and as a percentaage of investment, a one day 
HOUSE OVERSIGHT 031807 
dip fof 25%. wanting to buy the highter strike, is ok. but why the same month? why the same moment. why the 
same index. . sorry. I have taught this for many years. and your grade is an F. not one good move in 
many. . re broadcom. the crack happend in the morning, options were higher. no alternative presented. no 
analysis. , this is no way to manage money. I have lost a great deal of money hoping you would be able to do as you 
promised you could . would.. Had you told me, jeffrey I d like to try a new job as a manager lets start slow I can 
learn. i would be less annoyed. you told me you had great confidence knew the risks and truly believed you would 
be able to raise money .do well and prosper. . If it were not you, this would have ended months ago.. we should 
work on a solution . not sure yet what shape it takes. 
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 031808 
"
IMAGES-005-HOUSE_OVERSIGHT_020182.txt,"30

movements in the latter part of June in Hong Kong. CIA Deputy Director Morell would go no
further than to state that during that period he had no doubt the intelligence services of Russia and
China “had an enormous interest in him and the information he [Snowden] had stolen.”
Presumably, the last thing these adversary services would want would be to make this “interest”
transparent to the United States.

The role of concealment must be taken into account when assessing information bearing on the
work of espionage services. I learned when I was interviewing James Jesus Angleton, the CIA’s
legendary ex-counterintelligence chief of the CIA in the 1970s for my book on deception that
intelligence services play by a different set of rules than historians when it comes to their
espionage successes. Angleton, a famously baroque thinker himself, impressed on me the
complexity of espionage. He said “It’s not enough just to steal a secret. It must be done in a way
that the theft remains undetected.” From his perspective, there were two requisites that had to be
fulfilled to assure the success of any intelligence theft. The first task is the obvious one: acquiring
by espionage an adversary’s state secrets. The second task is concealment of that success.
Deception is employed to obscure the nature and the extent of the espionage theft. This deception
is necessary to extend the usefulness of theft. One of the most famous examples of this principle
was the deceptions used by British intelligence in the Second World War to conceal its success in
breaking the German ciphers generated by the Enigma machines. If German naval intelligence
discovered Britain was able to read the ciphers it used to communicate with its U-boats, it would
have stopped using them. So British intelligence hid its coup by supplying false information to
known German spies to account for the sinking of U-boats, including the canard that British aerial
cameras could detect one ingredient in the paint used to camouflage the U-boats. That same
hoary principle of deception applies to modern-day communications intelligence. If the Russian,
Chinese or any other adversary intelligence service got its hands on the documents stolen by
Snowden from the NSA’s repositories in Hawaii in 2013, it would likely employ deception,
including well-crafted lies, to create as much ambiguity as possible as to the ultimate disposition
of the missing documents. From this counterintelligence perspective, the intelligence issue that
spawned the great divide cannot be resolved by accepting the uncorroborated statements made by
a source, such as Snowden, who may be in the hands of the Russian security services in Moscow.

By the same token, the calculations made by NSA officials about the extent of the theft are also
suspect. After all, the NSA is an intelligence service that often engages in secret machinations.
We know that its top officials reported to the House and Senate Intelligence Committees, as well
as the President’s National Security Adviser, that over one million documents were compromised
by Snowden. But if this was disinformation, it is difficult to see its purpose. Inflating the extent
of the damage of the Snowden breach to the President, Congress and the Secretary of Defense
obviously reflected poorly on their own management of the NSA, and their own careers. Yet
such a possibility cannot be precluded in the arcane world of intelligence.

HOUSE_OVERSIGHT_020182
"
IMAGES-002-HOUSE_OVERSIGHT_013996.txt,"To bring in a wonderful 2009, I'd like to quote an e-mail I received from a mentor of more than a
decade:

While many are wringing their hands, I recall the 1970s when we were suffering from an oil shock
causing long lines at gas stations, rationing, and 55 MPH speed limits on federal highways, a recession,
very little venture capital ($50 million per year into VC firms), and what President Jimmy Carter
(wearing a sweater while addressing the nation on TV because he had turned down the heat in the White
House) called a “malaise.” It was during those times that two kids without any real college education,
Bill Gates and Steve Jobs, started companies that did pretty well. Opportunities abound in bad times as
well as good times. In fact, the opportunities are often greater when the conventional wisdom is that
everything is going into the toilet.

Well... we’re nearing the end of another great year, and despite what we read about the outlook for
2009, we can look forward to a New Year filled with opportunities as well as stimulating challenges.

Happy New Year, everyone.

How to Travel the World with 10 Pounds or Less

Hhactins a five-piece Samsonite set around the planet is hell on earth. I watched a friend do this up

and down dozens of subway and hotel staircases in Europe for three weeks, and—while I laughed a lot,
especially when he resorted to just dragging or throwing his bags down stairs—I’d like to save you the
breakdown. Trip enjoyment is inversely proportionate to the amount of crap (read: distractions) you bring
with you.

Practice in 30-plus countries has taught me that minimalist packing can be an art.

I returned from Costa Rica last Wednesday and have since landed in Maui, where I'll stay for one
week. What did I pack and why? (See the companion video at www.fourhourblog.com ®°)
I practice what I'll label the BIT method of travel: Buy It There.

If you pack for every possible contingency —better bring the hiking books in case we go hiking, better
bring an umbrella in case it rains, better bring dress shoes and slacks in case we go to a nice restaurant,
etc.—carrying a mule-worthy load is inevitable. I’ve learned to instead allocate $50—200 per trip to a
“settling fund,’ which I use to buy needed items once they’re 100% needed. This includes cumbersome
and hassle items like umbrellas and bottles of sunscreen that love to explode. Also, never buy if you can
borrow. If you’re going on a bird-watching trip in Costa Rica, you don’t need to bring binoculars —
someone else will have them.

Here’s the Maui list.

e » | featherweight Marmot Ion jacket (3 oz.!)

e » | breathable Coolibar long-sleeve shirt to prevent sunburn. This
saved me in Panama.

HOUSE_OVERSIGHT_013996
"
IMAGES-008-HOUSE_OVERSIGHT_026421.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_026421
"
TEXT-001-HOUSE_OVERSIGHT_031466.txt,"From: Thomas Jr., Landon 
Sent: 5/16/2016 2:52:57 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Trump 
Importance: High 
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.h  
tml 
HOUSE OVERSIGHT 031466 
"
IMAGES-002-HOUSE_OVERSIGHT_014021.txt,"VIRTUAL LAW

I used to work at a large Silicon Valley law firm, but one day I woke up and decided that I wanted to
travel for a year and learn a foreign language. Six weeks later I was living in Cali, Colombia—I’d never
visited Cali before and hardly spoke a word of Spanish, but that’s what made it exciting to me. Well,
almost two years later, I still spend 95%-+ of my time living and working from Cali, Colombia (I recently
bought a gorgeous apartment here that I could never afford if I lived in California). I also have a full-
time maid/cook (well, five hours per day, five days per week), which costs me less than US $40 per
week!

I started my own virtual law practice and then joined forces with my old boss. My U.S. number rings
through to me wherever I am in the world (originally I’m from New Zealand so I travel back there a lot,
too), and all my U.S. mail is delivered to Market Street, San Francisco, and scanned so I can view it
online. If I need to mail letters, I have another service which prints the letter and sends it within the US.
so there are no international shipping delays.

Definitely use www.earthclassmail.com for mail receipt/scanning. They have different packages but
it’s around $20-$30/month. You can also choose one or more P.O. boxes or physical addresses. My
Market Street address is actually an earthclassmail address.

For printing small letters and mailing within the U.S. I use www.postalmethods.com. It’s a little
clunky at first but it’s fine when you get used to it. It’s very cheap since you only pay when you send (a
four-page letter works out to just over $1 including the postage).

Come visit me sometime. Colombia is nothing like what you hear about—I feel a lot safer walking
around late at night here than a lot of places in San Francisco. But don’t tell anyone, those of us living
here want to keep it a secret!

—GERRY M.

TAKING FLIGHT WITH ORNITHREADS

Tim—

My mentor gave me your book this past July and it had a tremendous impact on my life, its arrival
could not have had better timing. About the time I read it, I was a few weeks away from competing in
my first Olympic distance triathlon. I had trained for five months, felt and looked strong, but even more
important the discipline and working toward a physical goal resulted in a creativity I hadn’t felt in years.
I posted a competitive time in the event and felt so optimistic about my abilities that I signed up for a
half ironman competition.

Riding that high and following the principles of your book, I thought of dozens of ideas for
products/businesses and am on the verge of launching the first of those ideas. It is a line of apparel called
OrniThreads which will provide modern, scientific designs of birds to Gen-X and Gen-Y birders.

The reasons for focusing on this demographic are twofold:

1. For my “day job,’ I work at [company name]. I have learned a lot about their
audience/membership, e.g., like the fact that there are 70 million Americans who actively bird (a
staggering statistic from the U.S. Fish & Wildlife svc). Birders are a passionate lot and their
interest only seems to grow over time—it never dies! They also tend to skew from the middle to
upper class and are educated.

2. I took an ornithology class this summer at Columbia University (where I am enrolled ina
conservation biology program) and fell in love with the illustrations in my textbooks and wanted to
surround myself with these images.

HOUSE_OVERSIGHT_014021
"
IMAGES-005-HOUSE_OVERSIGHT_019703.txt,"The NSA‘s Back Door | 215

documents he stole, he selected lists of the NSA’s secret sources in
adversary nations.

The Snowden breach was a failure that directly traced back to the
NSA’s largest and most trusted contractor, Booz Allen Hamilton,
calling into question the vexing issue of privatizing secret intelli-
gence. Booz Allen, like other private firms that did work for the gov-
ernment, 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 Water-
house. The profitability of government work led the Carlyle Group’s
private equity fund to acquire a controlling stake in Booz Allen in
July 2008. By 2013, it had increased its revenue by more than $1.3
billion by expanding its government contracts. Even more impres-
sive, its operating profit on these contracts had doubled. It did not
need to increase its core internal staff to achieve these profits, it just
had to hire outside contractors. In 2008, Booz Allen claimed 20,000
employees on its internal staff; in 2013, it claimed fewer than 5,000.
The resulting “reduced headcount,” according to its January 30,

© 2013, quarterly report, greatly decreased its costs for incentive pay. ©
It mainly accomplished this reduction by expanding the number of
outside contractors it employed, 8,000 in these five years, by one
Wall Street analyst’s calculation. They were employed as system
administrators, infrastructure analysts, computer security special-
ists, and other “geek squad” jobs at the NSA and other government
agencies. Their main qualification was their prior security clearances
(which as mentioned earlier saved Booz Allen the expense of vetting
them and also the loss of income while waiting many months for a
clearance).

Snowden therefore was highly desirable for Booz Allen from an
economic point of view. Even though he had no prior experience as
an infrastructure analyst, and he had been detected being untruthful
about his degree in computer sciences, he not only had a SCI secu-
rity clearance but was willing to take a cut in pay. In keeping with
the Booz Allen business plan, such a recruit provided another cog in
its profit machine.

Not only had the NSA outsourced much of its computer opera-

| | Epst_9780451494566_2p_all_r.indd 215 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019703
"
IMAGES-005-HOUSE_OVERSIGHT_019065.txt,"FD-302a (Rev. 10-6-95)

31E-MM-108062

Continuation of FD-302 of | ,On 08/17/2006 Page 2

bé
positive, [____] believed she was asked to do this task around bic

Christmas 2004.

told the interviewing agent of an incident that
occurred_at the EPSTEIN's residence either late summer or early
fall. was unsure of the year but knew it must have been in
2003, 2004 or 2005. The cleaning crew,
were working at the time of the incident as well. A
unidentified female(UF), who looked under the age of eighteen,
entered the residence demanding money. She had arrived at the
residence in_a taxi cab. [ ]described her as trashy and
desperate. [told the UF she was unaware of any money that had
been left for the UF, but that she would call the New York Office.
The UF stated that_she thought EPSTEIN was going to be at the
residence today. [_____] contacted the New York Office and they
instructed to pay the UF. The New York Office stated that
could find $200.00 in EPSTEIN's desk draw and she was to use
that to pay the UF. Once the UF received the money she departed
the residence. [____] stated to the interviewing agents, that at
one point she told the UF she was going to call the police if the
UF did not leave, but the UF responded that she would call the
police if she did not get her money.

| | believed that EPS girls_make
it big in the modeling industry. told[ |

that EPSTEIN would give money to girls to. help them go to college
or get them started in modeling. ne that she may have
been naive but she thought he was trying to help these girls.
[} stated that she knew EPSTEIN liked women and that women would
visit the residence even when was not there.

believed there were naked photographs of women throughout the
residence.

contact information as the
following: Florida,
telephone number

According to hone numbers are

cellular telephone number

also provided to the interviewing agents a copy of
some of the hours she worked at EPSTEIN's residence as well as some
notes made by at her time of employment with EPSTEIN. Those
decuments have been placed in a FD-340, a 1-A envelope, and are
maintained with the case file.

HOUSE_OVERSIGHT_019065 —
"
IMAGES-001-HOUSE_OVERSIGHT_010799.txt,"wow ony nm ® WN

NNN NNN BH BR eB bb be bt fe
“ne WN OL OI KRM FWN EO

241

(Discussion off the record.)
JHE WITNESS: What's Number 6 then? I'm
confused, there were two.
BY MR. SCAROLA:

Q. Have you ever seen Exhibit Number 6
before?

A. Exhibit Number 6. I don't believe so. It
doesn't look familiar to me.

Q. No?

A. It does not look familiar to me.

Q. Did you bother at any time to review
discovery that was produced by Bradley Edwards and
Paul Cassell responding to requests for information
that supported the allegations of Virginia Roberts?

A. I'm not clear what you're asking.

Q. Iwant te know —

A. In which case? In which case are we
talking?

Q. This case. This case.

A. Right.

Q. Did you ever bother to review the
discovery produced in this case responding to
requests for all of the information that supported
their belief in the truthfulness of Virginia
Roberts' allegations against you?

wo On nM ® WN

NNNNNN PRP PP PP ee ee
Ue WN HOUMA AMH &® WN OO

243

exonerated by any flight logs that were innocent --
that were complete and accurate, of course.

Q. So you made the public statements
repeatedly that the flight logs would exonerate you
without having examined the flight logs to see
whether they were accurate or not; is that correct?

A. Weill, I knew -- I knew that --

Q. Did you say those things without having
examined the flight logs?

A. I said those things having looked at some
of the flight logs at some point in time. But!
knew for sure that the flight logs would exonerate
me because I knew I was never on Jeffrey Epstein's
plane with Virginia Roberts or any other young
underage girls. So, I knew that to an absolute
certainty. And I was prepared to say it. I'm
prepared to say it again under oath here.

And if your clients had simply called me
and told me they were planning to do this, we
wouldn't be here today because I could have shown
them in one day that it was impossible for me to
have had sex with their client on the island, in the
ranch, on the airplanes, in Palni Beach. And they
would have, if they were decent and ethical lawyers,
not filed that.

wo on nM ® WN

NNNNN NEP RPP PPB eB BP PR
ue WNP OW DAYH UM BWNRO

A. I don't know if T reviewed everything.

But I certainly, in preparation for this deposition,
reviewed some of the documents that were produced in
discovery. But I can't say I reviewed them all.

Q. Well, having placed such substantial
emphasis during the course of your public
appearances on the flight logs exonerating you, it
would certainly seem logical that one of the things
that you would want te review would be all of the
available -- all of the available flight logs,
right?

A. No.

MR. SCOTT: Objection, argumentative.

A. No.

BY MR. SCAROLA:

Q. No?

A. No. Look, I knew I was never on a plane
with any underage females under any circumstances.
I knew that. I knew that as certainly as I'm
sitting here today. So, | knew absolutely that if
the manifests and the flight logs were accurate,
they would, of course, exonerate me because ] am
totally, completely, unequivocally innocent of any
of these charges.

So of course | knew that I would be

owv WwN HA WF WYN

244

And there are cases, legal ethics cases
that say that lawyers are obliged to make that phone
call. Lawyers are obliged to check if it's easy to
check. Lawyers are obliged to, particularly when
they're making extremely heinous charges against a
fellow lawyer, do very, very, detailed
investigations. And they didn't do that in this
case.

Q. I will represent to you that | have handed
you all of the available flight logs produced in the
discovery of this case. Could you show me, please,
which of these flight logs exonerates you?

A. The absence of evidence is evidence of
absence. None of the flight logs have me on an
airplane with Virginia Roberts. None of the flight
logs have me on an airplane during the relevant
period of time when Virginia Roberts claims that she
had sex with me in the presence of another woman.

So, the flight logs clearly exonerate me.
There's absolutely no doubt about that,

Q. Well, the flight logs, in fact, confirm
that you were in the same places at the same time as
Virginia Roberts, don't they?

A. No, they do not.

Q. Do you -- do you deny that they confirm

17 (Pages 241 to 244)

www.phippsreporting.com
(888) 811-3408

HOUSE_OVERSIGHT_010799
"
IMAGES-002-HOUSE_OVERSIGHT_013028.txt,"112 6 A Brief Overview of CogPrime

through its logic rules, so that uncertain premises give rise to conclusions with reasonably
accurately estimated uncertainty values. This careful management of uncertainty is critical for
the application of logical inference in the robotics context, where most knowledge is abstracted
from experience and is hence highly uncertain.

PLN can be used in either forward or backward chaining mode; and in the language intro-
duced above, it can be used for either analysis or synthesis. As an example, we will consider
backward chaining analysis, exemplified by the problem of a robot preschoolstudent trying to
determine whether a new playmate “Bob” is likely to be a regular visitor to is preschool or not
(evaluating the truth value of the implication Bob > regular_ visitor). The basic backward
chaining process for PLN analysis looks like:

1. Given an implication L = A — B whose truth value must be estimated (for instance
L = Concept Procedure > Goal as discussed above), create a list (Az, ..., An) of (inference
rule, stored knowledge) pairs that might be used to produce L

2. Using analogical reasoning to prior inferences, assign each A; a probability of success

e If some of the A; are estimated to have reasonable probability of success at generating
reasonably confident estimates of D’s truth value, then invoke Step 1 with A; in place
of LE (at this point the inference process becomes recursive)

e If none of the A; looks sufficiently likely to succeed, then inference has “gotten stuck”
and another cognitive process should be invoked, e.g.

— Concept creation may be used to infer new concepts related to A and B, and then
Step 1 may be revisited, in the hope of finding a new, more promising A; involving
one of the new concepts

— MOSES may be invoked with one of several special goals, e.g. the goal of finding
a procedure P so that P(X) predicts whether X — B. If MOSES finds such a
procedure P then this can be converted to declarative knowledge understandable
by PLN and Step 1 may be revisited....

— Simulations may be run in CogPrime’s internal simulation engine, so as to observe
the truth value of A > B in the simulations; and then Step 1 may be revisited...

The combinatorial explosion of inference control is combatted by the capability to defer to
other cognitive processes when the inference control procedure is unable to make a sufficiently
confident choice of which inference steps to take next. Note that just as MOSES may rely
on PLN to model its evolving populations of procedures, PLN may rely on MOSES to create
complex knowledge about the terms in its logical implications. This is just one example of the
multiple ways in which the different cognitive processes in CogPrime interact synergetically; a
more thorough treatment of these interactions is given in [Goe09al.

In the “new playmate” example, the interesting case is where the robot initially seems not
to know enough about Bob to make a solid inferential judgment (so that none of the A; seem
particularly promising). For instance, it might carry out a number of possible inferences and not
come to any reasonably confident conclusion, so that the reason none of the A; seem promising
is that all the decent-looking ones have been tried already. So it might then recourse to MOSES,
simulation or concept creation.

For instance, the PLN controller could make a list of everyone who has been a regular
visitor, and everyone who has not been, and pose MOSES the task of figuring out a procedure
for distinguishing these two categories. This procedure could then be used directly to make the
needed assessment, or else be translated into logical rules to be used within PLN inference. For

HOUSE_OVERSIGHT_013028
"
TEXT-001-HOUSE_OVERSIGHT_021113.txt,"From: J [jeevacation@gmail.com] 
Sent: 4/23/2019 12:58:06 PM 
To: Alan Dershowitz [1.1.11.110....ii]; Martin Weinberg [ 
Subject: Fwd: Announcing the 2019 Hillman Prize winners 
----------Forwarded message--------- 
From: The Sidney Hillman Foundation < 
Date: Tue, Apr 23, 2019 at 2:45 PM 
Congratulations to the 2019 Hillman Prize recipients! 
HOUSE OVERSIGHT 021113 
Sidney Hillman Foundation Names Winners of 2019 Prizes 
for Journalism in Service of the Common Good 
Reuters, NBC News and MSNBC, ProPublica Receive Honors; Adam Serwer to 
receive Opinion & Analysis Prize 
NEW YORK — The Sidney Hillman Foundation announced Tuesday winners of the 69th annual 
Hillman Prizes, recognizing a Reuters expose of slum-like living conditions on U.S military 
bases, the Miami Herald's investigation into Labor Secretary Alex Acosta's sweetheart deal with 
serial sex abuser, Jeffrey Epstein, and NBC News and MSNBC's reporting on the Trump 
Administration's family separation policy, among other standout reporting in service of the 
common good. 
HOUSE OVERSIGHT 021114 
Hannah Dreier of ProPublica won a Hillman Prize for reporting that showed how the 
government's bungled crackdown on MS-13 has torn apart the lives of Latino immigrants. The 
Atlantic's Adam Serwer, who has emerged as a defining voice of the Trump era, won for his 
essays on racism and Trump's political movement, and Anna Clark won for her book on the 
Flint water crisis. 
This year's prizes were judged by writer Ta-Nehisi Coates, the New Yorker's Jelani Cobb, 
Reuters' Alb( Freedman, the New Yorker's Hendrik Hertzberg, the American Prospect's Harold 
Meyerson and The Nation's Katrina vanden Heuvel. 
The 2019 winners of the Hillman Prizes are: 
• Newspaper — Miami Herald, Julie K. Brown and Emily Michot: Perversion of Justice 
• Magazine — ProPublica with New York magazine, Newsday, This American Life, New 
York Times Magazine, Hannah Dreier: Trapped in Gangland 
• Web — Reuters, Joshua Schneyer, Michael Pell, Andrea Januta, Deborah Nelson: 
Ambushed at Home 
• Broadcast — NBC News and MSNBC, Jacob Soboroff and Julia Ainsley: Torn Apart: 
Crisis at the Border 
• Opinion & Analysis — Adam Serwer, The Atlantic 
• Book — Anna Clark: The Poisoned City: Flint's Water and the American Urban 
Tragedy, Metropolitan Books 
Reporting by this year's prize winners has had significant positive impact, including: 
• Reversal of the Trump administration's ""Zero Tolerance"" family separation policy 
• Three federal investigations, new legislation, widespread repairs, and a $386 million 
emergency program to inspect military housing for hazards 
• The exposure of pervasive bias and negligence by Long Island police, leading to federal 
and local investigations and reforms 
This year's honorees follow in the trailblazing tradition of past winners ranging from Murray 
Kempton in 1950 for his articles on labor in the south and Edward R. Murrow in 1954 for his 
critical reports on civil liberties and Joseph McCarthy at the height of the Red Scare; to 2017 
newspaper winner, David Fahrenthold, for exposing Donald Trump's sexual harassment and 
mismanagement of his foundation. 
The Hillman Prizes are open to journalists and subjects globally for any work widely accessible 
to a U.S. audience. Winners will be awarded a $5,000 prize at the Hillman Foundation's annual 
HOUSE OVERSIGHT 021115 
ceremony in New York City on May 7. 
""In a time when this country's highest powers have taken it as their business to demean the 
work of journalists, it is particularly significant for us to honor those who have taken up the 
tools of journalism to challenge corrupt power wherever it may reside,"" said Hillman judge Ta-
Nehisi Coates. 
In 2011, the Sidney Hillman Foundation inaugurated the Canadian Hillman Prize. This year's 
winners, Harvey Cashore, Bob McKeown and Kimberly Ivany of CBC's The Fifth Estate, won for 
their sweeping investigation into the research and regulatory failures that have put millions of 
children at risk on their way to and from school each day. Their reporting exposed fraudulent 
science behind Transport Canada's seminal seatbelt study and led the Transport Minister to 
form a task force with the provinces to look at implementing seatbelts on school buses across 
the country. 
The Hillman Foundation announced Monday that CUNY professor and historian, Joshua B. 
Freeman, is the recipient of its 2019 Sol Stetin Award for Labor History. Freeman has written 
extensively about the history of labor, industry, modern America, and New York City. The 
Hillman Foundation established the award in 2005 to honor a labor historian who has made 
significant contribution to the field, researching and telling the stories of working peoples' lives. 
Since 1950, the Hillman's Prizes for Journalism honor the legacy of Sidney Hillman, an 
immigrant who dedicated his life to a ""better America."" Hillman believed that a free press was 
essential to a fair and equal society. The Sidney Hillman Foundation has sought to carry on his 
legacy by honoring journalists who illuminate the great issues of our times—from the search for 
a basis for lasting peace, to the need for better housing, medical care, and employment security 
for all people, to the promotion of civil liberties and the battle against discrimination based on 
race, nationality, or religion. 
For more information, including to RSVP to the event, please contact Alexandra Lescaze at 646-
448-6413 or Alex@HillmanFoundation.org 
HOUSE OVERSIGHT 021116 
HOUSE OVERSIGHT 021117 
Share 
Tweet 
Forward 
View this email in your browser 
HOUSE OVERSIGHT 021118 
Copyright © 2019 The Sidney Hillman Foundation, All rights reserved. 
You are receiving this email because you opted in to our list. 
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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 
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 021119 
"
IMAGES-010-HOUSE_OVERSIGHT_028808.txt,"nbcnews.com / Alex Seitz-Wald The California hedge fund founder,
who considered running earlier this year but pulled back, now joins a

crowded field of more than 20 candidates....

Trump Proposes Ways to Improve Care
for Kidney Disease and Increase
Transplants

HOUSE_OVERSIGHT_028808
"
IMAGES-001-HOUSE_OVERSIGHT_010941.txt,"CHAPTER 2: FAST FORWARD

I dropped the course on economics because | couldn't see the foundations. Not that
they should be clear from the start. That isn’t how the mind works. We see, do and
understand in that order. The pyramids rose four thousand years before people like
Galileo and Newton found the laws that made them possible. Practice comes first,
and science last. Science is abstraction from the particular to the general. It is fewer
rules predicting more outcomes more exactly. The pyramid builders knew rules for
this kind of stone and that kind of wood or rope. Newton gave rules for mass and
force. Those are not particular things like stone and wood and rope. They are
qualities of all things. Their rules are tougher to get our minds around, but predict

everywhere once we do.

What a book or course should offer from the start, even before the foundations, is an
inkling that it should be worth finishing. We have to sense that we're on to
something. The price of getting there will be the nuisance of abstraction from things
to qualities, and we need to see a reason to pay it. | didn’t in the course on
economics. Now it’s my turn. I’ll try a fast forward through free growth theory and
my other arguments to give an idea where we're headed and why it matters. The

foundations and then the slower tour will follow.

Free Growth

What I call free growth theory will probably count as the chief surprise, at least to
non-economists, because the argument and the supporting evidence call for a major
reversal in tax policy of this and other nations. But it is not original. John Stuart Mill
wrote the same idea in his Principles of Political Economy in 1848. | will quote what
he said in my Chapter 4. Although Principles became a leading textbook for decades,
the paragraph | quote seems to have been overlooked. Economic historians
including Joseph Schumpeter describe him as a champion of growth through belt-
tightening. The paragraph I will quote makes the opposite clear. We now have
means to prove his idea. I will show how to test it, and will show test results in

charts and tables taking up about 20% of this book. They imply that tax laws

Chapter 2: Fast Forward 1/06/16 1

HOUSE_OVERSIGHT_010941
"
IMAGES-008-HOUSE_OVERSIGHT_026347.txt,"Date: Monday, January 19 2015 09:48 AM
From: jeffrey E. <jeevacation@gmail.com>

To: BillGates iE: Larry Cohcn i :

I guess 1 won't be able to run for office for a while. . the forbes 400 list is now over 3 trillion in wealth that will
be transfered. obama will try to void the step -up , it won't pass this time, but more of an impetus for some, (

though hardly needed ).

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_026347
"
IMAGES-001-HOUSE_OVERSIGHT_011487.txt,"own, in which we could achieve the self-determination and security denied to us
elsewhere.

During the 1890s and the early years of the new century, more than a million
Jews fled Eastern Europe, but mostly for America. It was only in the 1920s and
1930s that significant numbers arrived in Palestine. Then, within a few years,
Hitler rose to power in Germany. The Jews of Europe faced not just
discrimination or pogroms. They were systematically, industrially, murdered.
From 1939 until early 1942 when I was born, nearly two million Jews were
killed. Six million would die by the end of the war. Almost the whole world,
including the United States, rejected pleas to provide a haven for those who
might have been saved. Even after Hitler was defeated, the British shut the
doors of Palestine to those who had somehow survived.

I was three when the Holocaust ended, and it was three years later that Israel
was established in May 1948, and neighboring Arab states sent in their armies
to try to snuff the state out in its infancy. It would, again, be some years before I
fully realized that this first Arab-Israeli war was the start of an essential tension
in my country’s life, and my own: between the Jewish ethical ideals at the core
of Zionism and the reality of our having to fight, and sometimes even kill, in
order to secure, establish and safeguard our state. Yet even as a small child, I
was keenly aware of the historic events swirling around me.

Mishmar Hasharon, the hamlet north of Tel Aviv where I spent the first 17
years of my life, was one of the early kibbutzim. These collective farming
settlements had their roots in Herzl’s view that an avant-garde of “pioneers”
would need to settle a homeland that was still economically undeveloped, and
where even farming was difficult. Members of Jewish youth groups from
Eastern Europe, among them my mother, provided most of the pioneers,
drawing inspiration not just from Zionism but by the still untainted collectivist
ideals represented by the triumph of Communism over the czars in Russia.

It is hard for people who didn’t live through that time to understand the
mindset of the kibbutzniks. They had higher aspirations than simply planting the
seeds of a future state. They wanted to be part of transforming what it meant to
be a Jew. The act of first taming, and then farming, the soil of Palestine was not

16
HOUSE_OVERSIGHT_011487
"
IMAGES-007-HOUSE_OVERSIGHT_024273.txt,"INCUMBENTS EMBRACING THE BLOCKCHAIN

NASDAQ - partnered with Chain to launch private company exchange
NASDAQ “As blockchain technology continues to redefine not only how the exchange sector operates, but the global

financial economy as a whole, NASDAQ aims to be at the center of this watershed development,” - Robert
Greifeld, NASDAQ CEO,

Citi - launched “Citicoin” project

®
Cl t | ""Blockchain technology not only has an opportunity to transform financial services but also extend far beyond
payments to new use-cases and applications across industries,"" - Debby Hopkins, Chief Innovation Officer at
Citi
AS Santander - published: “Fintech 2.0 Paper: Rebooting Financial Services”
Santander “Blockchain technologies could reduce banks' infrastructural costs by $15-20bn a year by 2022”
Standard Chartered
Standard ""The banking industry is starting to see the many potential benefits of its underlying technology. For banks,
Chartered a the blockchain has the potential to become a technology model for a low-cost and transparent transaction

infrastructure.” - Anju Patwardhan, Chief Innovation Officer

Royal Bank of Scotland - announced a $3.5 Billion technology revamp over next 3 years
» 4 RBS ""| don’t know what’s going to succeed. What I'm certain of is that we are going to see blockchain solutions
The Royal Bank of Scotland eer-to-peer solutions emerging in our industry and we want to be close to that development.” - Simon
McNamara, Chief Administrative Officer at RBS

i
5 Ne | >
i) ~~ “PEE ~bova Y,.., .8,., &

STATESTREET (QQ3)99.
NYSE GF cro sue # BARCLAYS és UBS Se BNY MELLON

Nat ~?) BLOCKCHAIN

CAPITAL ONE FERRY BUILDING, SUITE 255 SAN FRANCISCO, CA 94111 investor@blockchain.capital

HOUSE_OVERSIGHT_024273
"
IMAGES-012-HOUSE_OVERSIGHT_033367.txt,"5/29/2019 Opinion | Trump Hands China an Easy Win in the Trade War - The New York Times

If that’s what the Trump administration wants, its strategy has been a great success. If not, and
the president really wants a trade deal, with reasonable decreases in the bilateral trade deficit,
and some substantive changes in Chinese economic behavior, the American negotiating strategy
requires some serious recalibration.

Of course, China’s public position is that negotiations can continue. Even within the framework of
the new “red lines,” there may still be room for a deal. China might agree to purchase more
American goods, with America yielding on the retention of tariffs, and the unilateral right to
impose tariffs later. However, the degree of difficulty in getting to an agreement has now
increased substantially.

The bottom line is that nationalism is not just a factor in Trump’s America. It’s now a big factor in
Xi Jinping’s China as well, reinforced through the prism of Chinese history. In most of its dealings
with America over the last 100 years, China has seen itself as weak. Today, in Beijing’s view,
China is weak no longer.

Kevin Rudd, a former prime minister of Australia, is president of the Asia Society Policy Institute in New York.

The Times is committed to publishing a diversity of letters to the editor. We'd like to hear what you think about this or
any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.

Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram.

https:/Avww.nytimes.com/2019/05/29/opinion/trump-china-trade-war.html 3/3

HOUSE_OVERSIGHT_033367
"
IMAGES-003-HOUSE_OVERSIGHT_015010.txt,"sabotaged. The story of this sabotage and what followed is (briefly) this:

I've long-alleged that John and Avery Gunther (whose children | used to babysit) agreed to a quid pro
quo exchange of financial compensation for help destroying my credibility on behalf of IBM against
whom I'd filed a 2010 EEOC (Equal Employment Opportunity Commission) charge and a subsequent
May 2011 civil suit.

Per the May 11, 2011 Complaint, McGuire v. John and Avery Gunther:

3. On April 6, 2011 Mr. and Mrs Gunther, with uncontrolled greed and total disregard for the rights
and feelings of Ms. Nadine McGuire as well as those of their children, AFG and XWG, maliciously
and with ill-intent, wrongfully completed and executed a Complaint and Motion for Preliminary
Injunction requesting formal protection against Ms. Nadine McGuire.

4. Over the course of the previous few months, Mr. and Mrs. Gunther, colluding with persons against
whom Ms. Nadine McGuire is currently furthering litigation, including but not limited to plaintiff's
mother, Pauline Scala McGuire, and from whom they received and/or have been promised to receive
monetary incentives, hid their relationships with said individuals, further lied about having those
relationships in direct conversation with Ms. Nadine McGuire and Court testimony on May 4, 2011,
and wrongfully completed and executed a Complaint and Motion for Preliminary Injunction against
Ms. Nadine McGuire in cooperation and collaboration with said persons, resulting in the issuance of a
Temporary Restraining Order against Ms. Nadine McGuire issued on April 6, 2011.

- Initial Complaint, 5/11/11, McGuire v. John and Avery Gunther, Case No.:2011 CA 003703 B, DC
Superior Court, Judge Gregory Jackson presiding

In regards to the suit against IBM (McGuire v. IBM, 1:11CV528, US District Court of Virginia), the only
suit in which Pauline Scala McGuire was listed as a defendant, the most important claim was one of
“assault” that led to the 2007 death of my son. Per the filing:

Plaintiff, Grace Nadine McGuire, realleges the allegations of paragraphs 1-65 hereof as if fully set
forth within and further alleges:

66. Defendant Palmisano's conduct in ascertaining the drug that was used on the plaintiff to end her
pregnancy and take the life of her child on April 22, 2007, constitutes an intentional touching of the
plaintiff by defendant Palmisano, and was undertaken deliberately and with actual malice towards the
plaintiff and her unborn child.

67. Defendant Skoog, Susan Horton and Scala's conduct in coordinating the circumstances, creating
physical proximity and the administering of the drug to the plaintiff that ended her pregnancy and took
the life of her child on April 22, 2007 constituted an intentional touching of the plaintiff by said
defendants, and was undertaken deliberately and with actual malice towards the plaintiff and her
unborn child.

... 69. As the direct and proximate result of defendant Palmisano, Skoog, Susan Horton, and Scala's
conduct, the plaintiff suffered a severe placental abruption, which terminated her pregnancy and

ended the life of her unborn child, causing the plaintiff to suffer damages including but not limited to
the loss of her child, loss of affection, grief, sorrow, extreme mental torment and emotional distress.

- Initial Complaint, filed 5/16/11, McGuire v. IBM, et al, Case No.: 1:11CV528, US District Court of
Virginia - Eastern Division, Alexandria, Judge Leonie Brinkema presiding

HOUSE_OVERSIGHT_015010
"
IMAGES-004-HOUSE_OVERSIGHT_017401.txt,"4.2.12
WC: 191694

States because the channels of democracy had been blocked by malapportioned legislatures and
other perversions of the democratic process. Over a period of years, the Supreme Court placed
its moral imprimatur on desegregation and eventually unblocked these channels of democracy. It
worked — not perfectly, but perfection is rarely possible in a heterogeneous and divided
democracy. A similar process is today underway with regard to equality for gays.

Abortion is different. The Supreme Court’s decision, now more half a century old, changed few
minds on this issue, because those who believe that abortion — or certain kinds of abortion — is
tantamount to murder are not like those who believed that segregation was right. The former
believe that they occupy the moral high ground. And they do, if their underlying premise — that a
fetus is a human being — is correct. No rational argument, whether made by philosophers or
Supreme Court justices, will ever disprove the truth of that a priori premise. Nor will experience
alter it, unlike views concerning segregation or gay rights which have been markedly changed by
experience.

Moreover, the nation was — and remains — closely divided about the morality of abortion, both in
the abstract and under various circumstances. Advocates of a woman’s right to choose abortion
could have organized politically to win that right (at least for most women under most
circumstances) in the elected branches of government. According to the ACLU:

Between 1967 and 1971, under mounting pressure from the women’s rights
movement, 17 states decriminalized abortion. Public opinion also shifted during
this period. In 1968, only 15 percent of Americans favored legal abortions; by
1972, 64 percent did. When the Court announced its landmark 1973 ruling
legalizing abortion in Roe v. Wade, it was marching in step with public opinion.

But it is not the proper role of the Supreme Court to march “in step” with public opinion. That is
the role of the elected branches of government. Instead of devoting all their resources to
continuing the legislative and public opinion battle, the pro-choice movement devoted much of its
resources to the litigation option, whose goal it was to get the Supreme Court to constitutionalize
a woman’s right to choose abortion. It worked as planned, thus sparing the pro-choice movement
the difficult political task of organizing and fundraising on a state-by-state basis. The justices did
the work for them, by simply striking down most abortion laws in one fell swoop.

The short-term consequences of constitutionalizing the abortion issue were powerful and positive
for the choice movement. The long-term consequences were disastrous. Roe v. Wade provided
the Religious Right and the conservative wing of the Republican Party one of the best organizing
tools and rallying cries imaginable. The right-to-life movement was energized by this decision and
became one of the most potent political forces both nationally and in a large number of states. At
the same time, the pro-choice movement became lethargic, celebrating its great judicial victory
and neglecting the hard work of organizing and fundraising — at least in the beginning. As the
ACLU has put it:

... the backlash was swift and fierce. Anti-choice forces quickly mobilized,
dedicating themselves to reversing Roe. In 1974, the ACLU established its

314

HOUSE_OVERSIGHT_017401
"
IMAGES-011-HOUSE_OVERSIGHT_031910.txt,"35

alternative positions, have, for the first time in decades, put those
who reject objectivism in ethics on the defensive.

On What Matters is a book of daunting length: two large volumes,
totaling more than 1,400 pages, of densely argued text. But the core
of the argument comes in the first 400 pages, which is not an
insurmountable challenge for the intellectually curious — particularly
given that Parfit, in the best tradition of English-language
philosophy, always strives for lucidity, never using obscure words
where simple ones will do. Each sentence is straightforward, the
argument is clear, and Parfit often uses vivid examples to make his
points. Thus, the book is an intellectual treat for anyone who wants to
understand not so much “what matters” as whether anything really
can matter, in an objective sense.

Many people assume that rationality is always instrumental: reason
can tell us only how to get what we want, but our basic wants and
desires are beyond the scope of reasoning. Not so, Parfit argues. Just
as we can grasp the truth that 1 + 1 = 2, so we can see that I have a
reason to avoid suffering agony at some future time, regardless of
whether I now care about, or have desires about, whether I will suffer
agony at that time. We can also have reasons (though not always
conclusive reasons) to prevent others from suffering agony. Such self-
evident normative truths provide the basis for Parfit’s defense of
objectivity in ethics.

One major argument against objectivism in ethics is that people
disagree deeply about right and wrong, and this disagreement extends
to philosophers who cannot be accused of being ignorant or
confused. If great thinkers like Immanuel Kant and Jeremy Bentham
disagree about what we ought to do, can there really be an objectively
true answer to that question?

Parfit’s response to this line of argument leads him to make a claim
that is perhaps even bolder than his defense of objectivism in ethics.

HOUSE_OVERSIGHT_031910
"
IMAGES-008-HOUSE_OVERSIGHT_024550.txt,"designated by KULG are members, will be the holder of the Profits Participation LP Units (the “Profits
Participation Limited Partner”) with the economic rights as set forth in “— Distributions” below. KULG LLC-
1 will undertake that no more than 9% of the KUE Partnership Interests outstanding immediately after the
final closing of the offering or thereafter will be held directly or indirectly by or for the account of the
Principals and their Affiliates through the Profits Participation LP Units of KUE. At least 2/t1ths of the
Profits Participation LP Units outstanding will be issued to or reserved for the benefit of members of
KULG LLC-1 that are not the Principals or their affiliates, and may include employees, officers, directors,
consultants and agents of KUE, its subsidiaries and joint ventures as designated by KULG. At each
closing of any sale of Units to investors where the aggregate purchase price of all Units acquired by
Investors to date is less than or equal to $1.5 billion (during the Offering Period or thereafter), the Profits
Participation Limited Partner will be issued a number of Profits Participation LP Units such that the
aggregate shall equal at least 9/11ths of the 11% of “Partnership Units” (Common LP Units, GP Units,
and Profits Participation LP Units) that may be represented by Profits Participation LP Units. Additional
Profits Participation LP Units will be issued to the Profits Participation Limited Partner, at such time and in
such numbers as the Profits Participation Limited Partner will direct, based upon the issuance by the
Profit Participation Limited Partner of interests fo members of the Profits Participation Limited Partner
(who may include employees, officers, directors, consultants and agents of KUE, its subsidiaries and joint
ventures as designated by KULG other than the Principals and their affiliates), the vesting schedule of
such interests, and whether certain tax elections are made by the recipients of such interests; provided,
however, the total number of Profits Participation LP Units shall not exceed a number equal to eleven
percent (11%} of the aggregate number of Partnership Units. Any increase in the number of Profits
Participation LP Units following the sale of the first $1.5 billion of Common LP Units to Investors requires
a majority vote of the Independent Committee.

Subsequent to the completion of this offering, KUE may raise additional capital through the sale of equity
or debt securities. KUE will not have any preferred limited partner units outstanding upon completion of
this offering but KUE may issue limited partner units with preferences over the Common LP Units in the
future and may amend the Limited Partnership Agreement accordingly.

Since the General Partner will have a nominal economic interest in KUE, the Class A Shares are
expected to have nominal economic value. The Class A Shares are, however, intended to provide Unit
holders with certain voting and other governance rights in the General Partner (as described further below)
which, in turn, will control KUE.

14.4. Admission of Partners to KUE

The General Pariner may admit one or more Persons as additional Partners of KUE on such terms as the
General Partner will determine. Upon the admission of additional Partners, the capital accounts of the
Partners will be increased or decreased, as the case may be, to reflect the gross asset values of KUE's
assets pursuant fo Regulation Section 1.704-1(b)(2){iviig). The amount of any such increase or decrease
will be allocated among the Partners whe were Partners immediately prior to the admission of additional
Partners as if such increase or decrease constituted income or loss, respectively, in accordance with the
allocation provisions of the Limited Partnership Agreement.

Not in limitation of the foregoing, Investors admitted during the Offering Period after the first closing of this
offering and after September 30, 2006 will pay an additional amount accruing at a rate of 0.67% per
month calculated from the first closing date of the offering (pro-rated for partial periods) for each Common
LP Units purchased, which will be distributed promptly to the holders of Common LP Units outstanding
prior to such admission in proportion to the number of Common LP Units heid by such holders.

117

HOUSE_OVERSIGHT_024550
"
IMAGES-007-HOUSE_OVERSIGHT_022602.txt,"(B) The term “routine governmental action” does not include any
decision by a foreign official whether, or on what terms, to award
new business to or to continue business with a particular party, or
any action taken by a foreign official involved in the decision-making
process to encourage a decision to award new business to or continue

business with a particular party.

(5) The term “interstate commerce” means trade, commerce, transpor-
tation, or communication among the several States, or between any
foreign country and any State or between any State and any place or

ship outside thereof, and such term includes the intrastate use of —
(A) a telephone or other interstate means of communication, or

(B) any other interstate instrumentality.

oe OR OF

15 US.C. § 78m [Section 13 of the Securities Exchange Act of
1934]

Periodical and other reports
(a) Reports by issuer of security; contents

Every issuer of a security registered pursuant to section 78] of this title
shall file with the Commission, in accordance with such rules and reg-
ulations as the Commission may prescribe as necessary or appropriate
for the proper protection of investors and to insure fair dealing in the

security—

(1) such information and documents (and such copies thereof) as the
Commission shall require to keep reasonably current the information
and documents required to be included in or filed with an applica-
tion or registration statement filed pursuant to section 78] of this title,
except that the Commission may not require the filing of any material

contract wholly executed before July 1, 1962.

(2) such annual reports (and such copies thereof), certified if required
by the rules and regulations of the Commission by independent pub-
lic accountants, and such quarterly reports (and such copies thereof),

as the Commission may prescribe.

Every issuer of a security registered on a national securities exchange
shall also file a duplicate original of such information, documents,
and reports with the exchange. In any registration statement, periodic
report, or other reports to be filed with the Commission, an emerging
growth company need not present selected financial data in accor-
dance with section 229.301 of title 17, Code of Federal Regulations,
for any period prior to the earliest audited period presented in con-
nection with its first registration statement that became effective
under this chapter or the Securities Act of 1933 [15 U.S.C. §§ 77a,
et seq.| and, with respect to any such statement or reports, an emerg-

ing growth company may not be required to comply with any new

The Foreign
Corrupt
Practices Act

or revised financial accounting standard until such date that a com-
pany that is not an issuer (as defined under section 7201 of this title)
is required to comply with such new or revised accounting standard, if

such standard applies to companies that are not issuers.
(b) Form of report; books, records, and internal accounting; directives

(1) The Commission may prescribe, in regard to reports made pursu-
ant to this chapter, the form or forms in which the required informa-
tion shall be set forth, the items or details to be shown in the balance
sheet and the earnings statement, and the methods to be followed in
the preparation of reports, in the appraisal or valuation of assets and
liabilities, in the determination of depreciation and depletion, in the
differentiation of recurring and nonrecurring income, in the differen-
tiation of investment and operating income, and in the preparation,
where the Commission deems it necessary or desirable, of separate
and/or consolidated balance sheets or income accounts of any person
directly or indirectly controlling or controlled by the issuer, or any
person under direct or indirect common control with the issuer; but
in the case of the reports of any person whose methods of accounting
are prescribed under the provisions of any law of the United States,
or any rule or regulation thereunder, the rules and regulations of the
Commission with respect to reports shall not be inconsistent with
the requirements imposed by such law or rule or regulation in respect
of the same subject matter (except that such rules and regulations of
the Commission may be inconsistent with such requirements to the
extent that the Commission determines that the public interest or the

protection of investors so requires).

(2) Every issuer which has a class of securities registered pursuant to
section 78] of this title and every issuer which is required to file reports

pursuant to section 780(d) of this title shall—

(A) make and keep books, records, and accounts, which, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of

the assets of the issuer;

B) devise and maintain a system of internal accounting controls suf-

ficient to provide reasonable assurances that—

i) transactions are executed in accordance with management's general

or specific authorization;

ii) transactions are recorded as necessary (I) to permit preparation of

financial statements in conformity with generally accepted accounting

HOUSE_OVERSIGHT_022602

100

"
IMAGES-006-HOUSE_OVERSIGHT_021742.txt,"A. Marie Villafafia was the lead federal prosecutor in the Jeffrey Epstein sex case. The U.S. attorney’s office’s handling of

the prosecution, which led to a plea to minor charges in state court, has been harshly criticized.

Later that year, Acosta and Villafafia put together a plea bargain for Epstein, a
multimillionaire money manager who sexually abused nearly three dozen teenage
girls at his mansion in Palm Beach. The deal, a federal judge ruled last month, was
intentionally kept from his victims in violation of the Crime Victims’ Rights Act.

While the two cases are unrelated, it shows that both Acosta and Villafana had been
warned about the importance of victim disclosure in sex crimes cases before the
Epstein agreement. They nevertheless forged ahead with a pact with Epstein that
violated the law.

U.S. District Court Judge Kenneth A. Marra wrote: “When the Government gives
information to victims, it cannot be misleading. While the Government spent untold
hours negotiating the terms and implications of the [agreement] with Epstein’s
attorneys, scant information was shared with victims.”

This comes as Acosta, who is now the U.S. secretary of labor, is facing mounting
scrutiny for his oversight of the Epstein case. On Monday, White House press
secretary Sarah Huckabee Sanders declined to say whether President Trump has full
confidence in Acosta, noting that Acosta’s involvement in the Epstein case is
“currently under review.”

The Justice Department launched a probe in January into whether Acosta, Villafafia
and other prosecutors committed professional misconduct.

Francey Hakes, who worked in the Justice Department’s Crimes Against Children
unit, said Zloch’s comments were so brutal that it should have deterred Acosta and
Villafafia from keeping the deal secret.

“Tt is highly unusual for a court to allege an assistant U.S. attorney has intentionally
withheld information. That allegation is like dropping a bomb in the legal
community,” she said.

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

Palm Beach multimillionaire Jeffrey Epstein is a free man, despite sexually abusing
dozens of underage girls according to police and prosecutors. His victims have never
had a voice, until now.

“Tt seems to show that they are not taking these cases very seriously, they are not
advocating for strong punishment for sexual predators, and not advocating for
victims in a meaningful way. °

Villafana, a well-regarded 18-year veteran federal prosecutor, would not comment
for this story. But her lawyer, Jonathan Biran, said she has worked tirelessly on

HOUSE_OVERSIGHT_021742
"
IMAGES-008-HOUSE_OVERSIGHT_025896.txt,"From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Wednesday, August 05, 2015 7:48 PM

To: Noam Chomsky

Subject:

Only go to Greece if you feel well , I just had to send my plane to bring another lefty friend back from

Athens to see a Jew doctor in New York .

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_025896
"
IMAGES-009-HOUSE_OVERSIGHT_027410.txt,"Time: 09/17/18 07:11:31 AM (558886291)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: FOE97339-6036-4BC8-BE71-8C9A6D623C09

Message: wear the ACCUSATION of racism etc etc etc

Sender: e:jeeitunes@gmail.com

Time: 09/17/18 07:15:53 AM (558886553)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 1COF6646-E79C-46AC-A949-B998 7AAF21F6

Message: But take the time , you argue your statements wer taken "" out of context
Shs Too vague . "" T believe if people void of ideas and fear of fair debate need
to resort to cheap name calling- you have won. And wear that WIN with pride.
Sender: e:jeeitunes@gmail.com

Time: 09/17/18 07:17:36 AM (558886656)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: C57390A8-172E-4035-B8E1-F17568B9E6F9

£

Message: Not the accusation . Wear the fact that they are bereft of argument and must
dig down into an empty debate barrel and come up only with the sludge of name calling.
; wipe on , wipe off

Time: 09/17/18 07:19:17 AM (558886757)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: A3E8985C-4794-4798-A2A7-O8BE28F8511A

Message: Killer

Sender: e:jeeitunes@gmail.com

Time: 09/17/18 07:24:03 AM (558887043)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 9503FAF2-F957-4277-8743-270347849937

Message: People fearful of debating the results , the facts . Isis gone. Markets up

HOUSE_OVERSIGHT_027410
"
IMAGES-007-HOUSE_OVERSIGHT_024267.txt,"Day 7: Free vs. Proprietary Code and Content

This day examines quite different models for the development and distribution of software --
which can also serve as models for hardware, and for content. What kind of ecosystem,
featuring what models, is desirable?

We will think about current issues in cybersecurity as a case study in why free vs. proprietary
code might matter, and take up the question of how regulation might be applied when there are
no easily identified intermediaries in the production of code.

And we will hear from the legendary David Clark, one of the framers of the Internet.

Readings:

Richard Stallman, “Original Announcement of the GNU Project,” GNU Operating System

(September 27, 1983) https:/Awww.gnu.org/gnu/initial-announcement.html archived at
https://perma.cc/2V5W-89P3.
The Free Software Foundation, “What is free software?,” GNU Operating System
http://www.gnu.org/philosophy/free-sw.html archived at https://oerma.cc/7884-5ZUR.
o [FOR REFERENCE] The Free Software Foundation, ""Categories of Free and
nonfree software,” GNU Operating System:
https://www.qnu.org/philosophy/categories.html archived at
https://oerma.cc/HH79-6YVX.
Jonathan Zittrain, The Future of the Internet and How to Stop It. New Haven: 2008
https://dash.harvard.edu/bitstream/handle/1/4455262/Zittrain Future%200f%20the%201
nternet.pdf?sequence=1 archived at https://oerma.cc/B7RL-JRKK.
o Read Chapter 4: Generative Patterns (pages 67-100).
Jeff Atwood, “Tivoization and the GPL,” Coding Horror (February 18, 2008),
https://blog.codinghorror.com/tivoization-and-the-qpl/ archived at
https://perma.cc/YFQ5-42XW.
Rusty Foster, “The Internet’s Telltale Heartbleed,” The New Yorker (April 9, 2014)
http://www.newyorker.com/tech/elements/the-internets-telltale-heartbleed archived at
https://perma.cc/AC9L-HW34.
Ron Amadeo, “Google’s iron grip on Android: Controlling open source by any means
necessary,” Ars Technica (October 20, 2013)
http://arstechnica.com/gadgets/20 13/10/qoogles-iron-qrip-on-android-controlling-open-so

urce-by-any-means-necessary/ archived at https://perma.cc/QKW2-3EQH.
[OPTIONAL] Open Source Licenses: Richard Fontana et. al, A Lega/ Issues Primer For

Open Source and Free Software Projects. Software Freedom Law Center (June 4, 2008)
https://www.softwarefreedom.org/resources/2008/foss-primer.pdf archived at

https://perma.cc/2CMH-UP4G.
© Read Chapter 2 only.

HOUSE_OVERSIGHT_024267
"
IMAGES-003-HOUSE_OVERSIGHT_015004.txt,"you could call up the ARMY to deal with the emergency, but you cannot do it on a permanent basis
but we now do do it on a permanent basis. We haven't even bothered to repeal the posse comitatus.
We are in a state of emergency that was declared on September the 14th, 2001. And it’s still
enforced. It has to be renewed every year. Obama did it every year just as George Bush renewed it
every year.

What are the roots of this? Well there are the legitimate roots that go back to fear of an atomic
decapitation of the government back in the Truman era, so legitimate COG planning goes back to
Truman and Eisenhower, but the illegitimate use of COG to deal with any emergnecy you like, that
goes to the Reagan administration and it really goes back to the [Halloween] Massacre where
Rumsfeld and Cheney put their thumbprint on American politics for the first time.

-- interview of Peter Dale Scott, @ min. 32:00,
https://www. youtube.com/watch?v=hNqDAYWYFuQ&t=2433s

This all suggests that the start of the 9/11 agenda pre-dated him as well. | see now that there was a
seemingly relevant 1990 event as well. ""On September 11, 1970 -- a date that only took on haunting
overtones with the attacks on New York and Washington in 2001 -- Nixon became the first U.S.
president to try to protect air travelers from extremists who sensed gaping vulnerabilities in security
for commercial airliners, issuing a statement listing a string of measures including the introduction of
100 air marshals on U.S. planes. ""Most countries, including the United States, found effective means
of dealing with piracy on the high seas a century and a half ago,” Nixon said. ""We can -- and we will --
deal effectively with piracy in the skies today.""

The President had been jolted into action by the simultaneous hijackings of planes in Europe headed
to the United States. Jets belonging to TWA, Pan Am and Swissair were seized by the Popular Front
for the Liberation of Palestine. The group also attempted to hijack a jet over London belonging to the
Israeli airline El Al but was thwarted by security guards on board.

The Pan Am seizure ended quickly, but the passengers on the TWA and Swissair jets were diverted
to a British air base in Jordan and the drama only ended after days of tense diplomacy, when the
hostages were all released in a deal in which the Swiss, German, British and Israeli governments let
Palestinian prisoners go."" (http://www.cnn.com/2015/07/2 7/politics/terrorism-19/70s-richard-
nixon/index.html)

This 9/11 response sounds quite normal of course. But fast forward and the two secret service
individuals chosen for an April 2001 interview by a PWC staff member on behalf of what becomthe
IBM Center for the Business of Government were (1) Steve Colo who happened to be the head of the
division at SAIC that falsely labeled me a threat and added my name to some sort of Do Not Admit list
at the end of a 5 month temp assignment in 2005 into early 2006. The consequence of the SAIC
designation for me was the following:

(| write) ""The SAIC designation took advantage of a devilish stratagem in which as a national security
employee (having filed out a SF-86 form, governed actually by the GSA -
https://Awww.gsa.gov/portal/forms/download/116390 - for government clearance) working a designated
contract in a classified facility, being designated a disturbance/dissident/threat to operations, makes
one, in turn, a threat to national security - with all the surveillance/targeting that enables."" In essence |
was made an enemy of the State and was tracked, my family and friends turned, my opportunities
seized to include the opportunity to rear family as demonstrated especially in the 2007 sabotage of
my third trimester pregnancy and then the targeting and eventual capture of children | used to babysit
- in 2011, they were predominantly tweens - to be used for sexual blackmail and other forms of
leverage. The reason for the use of children in this barbaric way was to expend ""ops"" that were
already in effect and had been used to control many of the politicians that have been allowed to rise
to the top (see info on the Franklin Scandal for example), and similarly according to the laws of

HOUSE_OVERSIGHT_015004
"
IMAGES-012-HOUSE_OVERSIGHT_033373.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

HOUSE_OVERSIGHT_033373
"
IMAGES-011-HOUSE_OVERSIGHT_031904.txt,"29

run they’re doing better than the United States without having these
Western institutions. The real challenge is the long-run sustainability
of that system, or of the two systems. And looking at that in the long-
run, I would still bet on the West, with its rule of law and systems of
checks and balances on authority.

SHAFFER: You’ve probably heard a lot of phony rebuttals based on
misreading of The End of History. So, | won’t attempt one — but
you’ve made oblique references to your own revisions and criticisms.
How does the rise of China and the current Arab unrest, for example,
fit into the end of history?

FUKUYAMA: If you understand the original thesis correctly, what I
was saying is that there was a theory of history among progressive
intellectuals for most of the 20th century. That theory of history was
Marxism. And according to the Marxists, the end of history was a
communist utopia. My observation in the late 1980s is that we
weren't going to get there. Liberal democracies seemed to be the
highest stage of political development, and I didn’t see any real
alternatives. If you understand the thesis that way, I still believe that.
Nothing that’s happened in the last 20 years has convinced me that
there’s a higher form of government. Certainly not 9/11 — I don’t
think anybody wants to live in a place like Iran and Afghanistan, so I
don’t think that’s a serious competitor. China is a more plausible
alternative. But I don’t think that anybody who’s not culturally
Chinese would duplicate their system, and the Chinese are not really
proselytizing their system. So I still think liberal democracy is the
default form of government.

What’s changed for me are a couple of things: One 1s the idea of
political decay. It wasn’t an important part of the End of History. But
I do think that all political systems, including liberal democracies,

HOUSE_OVERSIGHT_031904
"
IMAGES-004-HOUSE_OVERSIGHT_017415.txt,"4.2.12
WC: 191694

“On the face of it the issue certainly seems to me like blacklisting. I’m sure they make
good arguments for it on the basis that a legitimate tactic of the United Nations is
boycotting, but still I’m sure that if I examined it as closely as you have, I would find there
would be no excuse for it. Thanks for keeping me informed. Best, Woody.”

During the Apartheid regime, I was invited to speak at the Witwatersrand University in
Johannesburg. Many in that university had been on the forefront of opposing Apartheid and I was
anxious to lend support to these efforts by delivering a strong human rights message. When I
appeared at the South African consulate in Boston to receive my Visa, the Counsel General was
well prepared: he had on his desk the Yale Law Journal article I had edited. He told me that
before he could consider my application, he wanted to see a copy of my proposed speech. I
declined his request, citing freedom of expression. I did not receive the Visa and had to postpone
my first visit to South Africa until after the end of apartheid.

I had hoped not only to speak against apartheid during my aborted visit to South Africa, but also
to try to get to Robin’s Island to meet with the imprisoned Nelson Mandela. I was working with
Professor Irwin Cotler, with whom I had taught human rights at Harvard Law School, on a
complicated legal plan to free Mandela.

Our plan began following the arrest of an East German professor in Boston on charges of spying
for his country. I received a call from an East German lawyer asking if I could represent him or
recommend a good lawyer who could. The East German lawyer—who was a well known and
trusted “spy-swapper’—told me that his client was innocent, but that the East German might be
willing to arrange a “spy swap” for my client Anatoly Sharanksy. I told him that my client wasn’t
a spy so a “spy swap” was off the table. He responded “neither is my client.” He then proposed a
possible “prisoner exchange, including prisoners who were accused of spying but were innocent.”
It was an interesting idea.

I then called my friend and colleague Irwin Cotler in Canada and told him of the call. He was, at
the time, working on both the Sharansky and Mandela case, and he had previously sought my
advice on the Mandela matter. He suggested that we inquire whether there were any South
African spies in Soviet Block prisons, and whether South Africa might be willing to release
Mandela as part of a prisoner exchange among several countries.

In the end, Sharansky was exchanged for the East German man (who was represented by other
lawyers), but we learned from the African National Congress lawyers with whom we were
conferring that Mandela refused to participate in any prisoner exchange, particularly one that
involved anyone accused of spying. He wanted to be released on his own terms, even though his
decision would require him to remain imprisoned until his own terms were accepted by the South
Africa government, as they finally were in 1990.

My negotiations with the East German lawyer were shrouded in secrecy and had elements right
out of a John Le Carre novel. We used code words over the phone and met in out of the way

places at unusal times. He was a man of his word and could always be counted on to honor his
commitments. After the fall of the Berlin Wall, he was indicted on an assortment of concocted

328

HOUSE_OVERSIGHT_017415
"
IMAGES-007-HOUSE_OVERSIGHT_023508.txt,"22

can be achieved only through “jihad and resistance until the Islamic
regime rises.”

The chaos and disappointment that follow revolutions will inevitably
provide many opportunities for Al Qaeda to spread its influence.
Demographic pressures, economic woes and corruption will continue
to bedevil even the best-run governments in the region. Divisions will
beset the protest movements, and vestiges of the old regimes may re-
emerge.

Al Qaeda and its allies don’t need to win the allegiance of every
protester to exert their influence; they have a patient view of history.
Although Washington must avoid tainting organic movements or
being perceived as a central protagonist, the United States and its
Western allies should not be shy about working with reformers and
democrats to shape the region’s trajectory — and ensuring Al
Qaeda’s irrelevance in the Sunni Arab world, the heart of its
supposed constituency.

In countries where autocrats have been toppled (as in Egypt and
Tunisia), we must help shape the new political and social
environment; in nondemocratic, allied states (like the region’s
monarchies), we need to accelerate internal reform; and in repressive
states (like Iran, Libya and Syria), we should challenge the legitimacy
of autocratic regimes and openly assist dissidents and democrats.
This is not about military intervention or the imposition of American-
style democracy. It is about using American power and influence to
support organic reform movements.

The United States Agency for International Development and
advocacy organizations can help civil society groups grow; human
rights groups can organize and assist networks of dissidents; and
Western women’s groups and trade unions could support their
counterparts throughout the Middle East. Wealthy philanthropists
and entrepreneurs who are part of the Middle Eastern diaspora could

HOUSE_OVERSIGHT_023508
"
TEXT-001-HOUSE_OVERSIGHT_025361.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 9/3/2009 11:18:47 AM 
To: Sultan Bin Sulayem 
Subject: Re: 
she is your second biggest fan... iam the first. i sell dubai, to its detractors. 
On Thu, Sep 3, 2009 at 7:05 AM, Sultan Bin Sulayem < > wrote: 
An interesting piece to read before you start your weekend. Guest Post by Jim Krane: Dubai, Not Obama, is the Mideast's Best 
Peace Hope Tuesday, Sep 01 2009, 3:11PMThis is a guest note by Jim Krane, a former AP Persian Gulf correspondent. His new 
book on Dubai, City of Gold: Dubai and the Dream of Capitalism, is available. 
As Americans, Israelis and Palestinians continue their endless peace-jockeying, a more hopeful solution has emerged. It is a fresh 
Arab initiative that depends neither on America nor Israel. 
It is Dubai. 
Dubai, you must know, is the flashy Gulf city-state that is one of the seven United Arab Emirates. In my book, I argue that Dubaians, 
descended from illiterate Bedouin who faced starvation in the 1940s, have authored the most exciting Arab accomplishment in 700 
years. 
>From nowhere, Dubai has mushroomed into a trading city-state on the lines of Hong Kong and Singapore, with sidelines in real 
estate and tourism. 
Dubai accomplished all this without (much) oil, and without the help - or even recognition of the United States. While Washington 
has been caught up prolonging the Israel-Palestinian conflict and starting a war in Iraq, Dubai was erecting one of the worlds most 
spectacular cities. So, how can Dubai fix the Middle East? It certainly can't do much to help Palestinians suffering under Israeli 
misrule. 
But that is the point. Dubai has succeeded in spite of the plight of the Palestinians, and in spite of what Arab leaders describe as US 
meddling that stymies their development. One of the favorite themes of Dubai leader Sheikh Mohammed is that his counterparts 
should stop bloviating about the Israelis and start serving the interests of their own citizens. 
Dubai's wild growth backs up Sheikh Mohammed's message. His business-before-politics way is becoming a development model for 
the rest of the Arab world. 
But wait, Dubai is in financial trouble. How could it be a role model?Dubai's downturn is temporary. Being one of the worlds most 
globalized cities, it couldn't help but be infected by a global recession. The contagion kneecapped each one of its economic pillars: 
Shipping, logistics, tourism, and its binging real estate sector. Most of these pillars remain sound. 
Dubai's economic example isn't widely understood in Washington. But its a good thing. Emulating Dubai could make Arab countries 
more stable and secure, along with the rest of us. For America, which has mistreated Dubai despite synergies with our interests, its a 
windfall. 
If you remember, Dubai in 2006 bought US port operations and found itself vilified as a terrorist logistics center. Members of 
Congress now in the Obama administration -- among them the senator who is now president -- joined the Dubai-bashing. Well, it 
may turn out that this ""terrorist logistics center"" has one of the keys for fixing the Mideast's terrorism problem. 
The Dubai model is a mixture of social freedom, unbridled immigration, and raw capitalism. It is overseen by a government that is 
one of the world's least democratic. This is no accident. Dubai avoids both elections and the Arab obsession with politics, especially 
the syndrome of feeling slighted by the West. 
Dubai is pragmatic. It makes money doing business with Israel and Iran, countries shunned by other Arab states. The city's finessing 
of simultaneous friendships with Washington and Tehran is as deft as it is precarious. 
Dubai's government wrings efficiencies using schemes from Harvard Business School and General Electric. Its use of strategic 
planning is a new concept in the Middle East. Dubai conceives developments, like no-tax business parks, and builds them exactly as 
promised. 
In contrast with the surrounding police states, Dubai functions on the honor system. Alcohol is legal. Prostitution is tolerated. A nice 
example is the e-Gate scheme, which allows residents to use a biometric card to skip passport control. None of the neighbors has the 
confidence to replace state security with a smart card. Not Saudi Arabia, not Iran, not Israel. 
Saudis and Iranians, especially, find a refreshing dignity in Dubai, a respect for their ability to make the right choice. ""Friday you can 
pray, but Thursday night you might want to go to the bar,"" says a Dubai-based Saudi. ""It's up to you. ""Dubai is certainly taking risks. 
But rulers from Morocco to Iran are already Xeroxing parts of the Dubai playbook and waiting to see how the more controversial 
approaches pan out. For some, its a matter of self-preservation: Dubai's state-led development doesn't involve elections. For others 
its a bid to stop the hemorrhage of bright citizens and cash fleeing to Dubai. 
All of them ought to do more. Egypt, with its unemployed masses, could make use of Dubai's incentives for foreign investment. 
Syria might adopt its free trade ways. Iraq and Israel could use a dose of its religious tolerance. And its Gulf neighbors might 
streamline their bureaucracies as Dubai has. 
Of course, there are areas where neighbors emulate Dubai to their detriment. Dubai's abusive ""in-sourced"" labor market is one. Real 
estate is another. One hopes Dubai's property crash taught admirers what not to copy. And Dubai pays no heed to the environment. 
Thus Dubaians, with their monster 4x4s and chilled swimming pools, are the worlds most prolific polluters. 
HOUSE OVERSIGHT 025361 
But overall, Dubai's self-help mentality is the best hope for dragging this stagnant region into the global economic mainstream, with 
the accompanying stability and peace it implies. Its time Washington took notice.-- Jim 
Kranehttp://www.thewashingtonnote.com/archives/2009/09/guest_post by L12/  
********************************************DIscLAImER*********************************** 
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HOUSE OVERSIGHT 025362 
"
IMAGES-008-HOUSE_OVERSIGHT_024544.txt,"13.6. Product Offering

Comprehensive K-9 Curriculum. k12 offers a comprehensive curriculum for grades K-9 directly to the
studenis in its virtual academies, directly to consumers and to school districts, summer schools and after-
school programs. 12 is creating rich and challenging proprietary educational material based on existing
best-of-breed content and traditional methods enhanced by technology. Unlike most computer-based
education programs, which rely solely on computers and burden students with mechanical “point and
click” exercises, k12 uses the computer as only one among many complementary tools to open children’s
minds to the best books and educational material. 412's math, reading and writing curriculum involve a
significant amount of off-line work in the form of books, audiotapes, science equipment, art supplies and
more. 12 provides some of these materials and others will be recommended but not required.

For example, k12’s comprehensive curriculum for students in grades K-9 includes lessons in the following
subjects:

@ Language Arts. Progresses from a focus in the primary grades on early mastery of reading using
phonics-based curriculum reviewed and revised by a team of renowned experts, to, in later grades, a
rich program of literature, composition, and language skills;

& Math. A solid early foundation in basic math based on a highly respected math curriculum and
rigorous math standards;

B History. in grades K-4, a proprietary k12 program that offers a chronological overview of history, from
the Stone Age to the Space Age, with integrated geography and civics; in middle school, an American

History survey based on the celebrated History of the US series, and a World History survey based on
a proprietary A12 textbook;

Ei Science. A world-class science curriculum focused on hand-on activities and basic principles driven
by some of the most ambitious state science standards in the country;

M Visual Aris. A curriculum that combines appreciation of historical trends and masterpieces with
specific skill building and many opportunities for creative work; and

HB Music. In the elementary grades, a proprietary program that engages young children in singing,
dancing and creative movement while introducing them to great works of music from around the world.

k12’s curriculum and assessment are delivered, in part, through a series of proprietary course modules.
k12 delivers material over the internet, but also through other forms of media, including traditional books,
video and learning kits. «12’s course modules employ interactive text, audio, videos, CDs, and animated
graphics. The Internet-based portion of k12’s courses contains the following features:

@ Integration of a diverse mix of materials—visual images and concepts, audio, videos and animated
sequences, as well as high-quality written material;

Capabilities for users to see an overview of the whole module at a glance;
Opportunity for parents to scan and preview modules before guiding students through work;
Integrated assessment services;

Ability for children, parents, and teachers fo follow students’ progress;

Comprehensive teaching guides with “drill down” functionality for those parents requiring more detailed
instruction; and

@ Proven, standards-based, technologies that provide a satisfactory experience for the current Internet
infrastructure.

111

HOUSE_OVERSIGHT_024544
"
IMAGES-007-HOUSE_OVERSIGHT_022616.txt,"2228. Rep, No. 95-114, at 7.

*3 Section 13(b)(2)(B) of the Exchange Act, 15 US.C. § 78m(b)(2)(B).
*4 Section 13(b)(7) of the Exchange Act, 15 U.S.C. § 78m(b)(7).

225 See Complaint, SEC v. Siemens AG, supra note 48; Criminal
Information, United States v. Siemens AG, supra note 48,

a Complaint, SEC v. Siemens AG, supra note 48; Criminal Information,
United States v. Siemens AG, supra note 48; Press Release, U.S. Dept.

of Justice, Siemens AG and Three Subsidiaries Plead Guilty to Foreign
Corrupt Practices Act Violations and Agree to Pay $450 Million in
Combined Criminal Fines (Dec. 15, 2008), available at http://www.
justice.gov/opa/pr/2008/December/08-crm- 1105. html.

7 See, CG, Complaint, SEC v. Biomet, supra note 221 (bribes paid to
government healthcare providers in which phony invoices were used

to justify payments and bribes were falsely recorded as “consulting

fees” or “commissions” in company’s books and records); Criminal
Information, United States v. Biomet, supra note 221 (same); SEC v.
Alcatel-Lucent, supra note 48 (bribes paid to foreign officials to secure
telecommunications contracts where company lacked proper internal
controls and permitted books and records to falsified); United States v.
Alcatel-Lucent, S.A., supra note 48 (same).

228 Complaint, SEC v. Daimler AG, supra note 48; Criminal Information,
United States v. Daimler AG, supra note 48.

29 To)

230 Tf

231 Td.

232 Tf.

233 J.

234 See, 685 Complaint, SEC v. Tyco Intl, supra note 9; Complaint, SEC v.
Willbros, No. 08-cv-1494 (S.D. Tex. May 14, 2008), ECF No. 1, available
at http://www.sec.gov/litigation/complaints/2008/comp20571 pdf.

5 See, es Complaint, SEC v. Siemens AG, supra note 48; Complaint,
SEC v. York Intl Corp., supra note 115; Complaint, SEC v. Textron, supra
note 115; Criminal Information, United States v. Control Components,
Inc., No. 09-cr-162 (C.D. Cal. July 22 2009), ECF No. 1 [hereinafter
United States v. Control Components], available at hetp:/ /www.justice.
gov/ criminal/fraud/ fcpa/ cases/control-inc/07-22-09cci-info. pdf; .
Criminal Information, United States vy. SSI Int’l Far East, Ltd., No. 06-cr-
398, ECF No. 1 (D. Or. Oct. 10, 2006) [hereinafter United States v. SST
Int'l), available at http ://www.justice.gov/criminal/fraud/fcpa/cases/
ssi-intl/10- 10-06ssi-information.pdf.

236 See, CL5 Complaint, SEC v. El Paso Corp., supra note 187; Complaint,
SEC v. Innospec, supra note 79; Complaint, SEC vy. Chevron Corp., 07-
cv-10299 (S.D.NLY. Nov. 14, 2007), ECF No. 1, available at http://www.
sec.gov/litigation/complaints/2007/comp20363 pdf.

237 Diea Agreement, United States v. Stanley, supra note 8; Plea Agreement,
United States v. Sapsizian, supra note 8.

238 See Complaint, SEC v. Maxwell Technologies, supra note 221.

239 See Complaint, SEC v. Willbros Group, supra note 9,

2415 US.C. § 7201, et seq.

241 Exchange Act Rule 13a-15, 17 C.ER. § 240.13a-15; Exchange Act
Rule 15d-15, 17 C.FR. § 240,15d-15; Item 308 of Regulation S-K, 17
CER. § 229.308; Item 15, Form 20-F, available at http://www.sec.gov/
about/forms/ form20-f.pdf; General Instruction (B), Form 40-F (for
foreign private issuers), available at http ://www.sec.gov/ about/forms/
form40-f.pdf.

2 See US. SEC. AND EXCHANGE COMM., COMMISSION GUIDANCE
REGARDING MANAGEMENT'S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING UNDER SECTION 13{A) OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934, Release No. 33-8810 (June
27,2007), available at http ://www.sec.gov/rules/interp/2007/33-8 810.
pdf.

243 Td.

2a Foreign Corrupt Practices Act of 1977, Pub. L. No. 95-213, § 102, 91
Stat. 1494 (1977).

245 See supra note 48; SEC v. Technip, supra note 132, (French company);
United States v. Technip, supra note 132, (same); see also Admin.
Proceeding Order, In re Diageo ple, Exchange Act Release No. 64978
(SEC July 27,2011) (UK company), available at http://www.sec.gov/
litigation/admin/201 1/34-64978.pdf; Admin. Proceeding Order, In

re Statoil, ASA, Exchange Act Release No. 54599 (SEC May 29, 2009)
(Norwegian company), available at http: //www.sec.gov/ litigation/
admin/2006/ 34-54599. pdf; Criminal Information, United States v.

Endnotes

Statoil, ASA, No. 06-cr-960 (S.D.N-Y. Oct. 13, 2006) (same), available at
http://wwwjustice.gov/criminal/fraud/fepa/cases/statoil-asa-inc/ 10-13-
O9statoil-information.pdf.

6 Although private companies are not covered by the books and records
and internal controls provisions of the FCPA and do not fall within
SEC’s jurisdiction, such companies generally are required by federal and
state tax laws and state corporation laws to maintain accurate books and
records sufficient to properly calculate taxes owed. Further, most large
private companies maintain their books and records to facilitate the
preparation of financial statements in conformity with GAAP to comply
with financial institutions’ lending requirements.

247 See SEC v. RAE Sys. Inc, supra note 92; In ve RAE Sys. Inc., supra note
92.

*48 See Section 13(b)(6) of the Exchange Act, 15 U.S.C. § 78m(b) (6),
which provides that where an issuer “holds 50 per centum or less of the
voting power with respect toa domestic or foreign firm,’ the issuer must
“proceed in good. faith to use its influence, to the extent reasonable under
the issuer’s circumstances, to cause such domestic or foreign firm to devise
and maintain a system, of internal accounting controls consistent with
[Section 13(b)(2)],”

49 See 15 US.C. § 78m(b)(6). Congress added the language in sub-
section 78m(b)(6) to the FCPA in 1988, recognizing that “it is
unrealistic to expect a minority owner to exert a disproportionate degree
of influence over the accounting practices ofa subsidiary.” H.R. Rep.

No. 100-576, at 917. The Conference Report noted that, with respect

to minority owners, “the amount of influence which an issuer may
exercise necessarily varies from case to case. While the relative degree of
ownership is obviously one factor, other factors may also be important in
determining whether an issuer has demonstrated good-faith efforts to use
its influence.” Jd; see also S. Rep. No. 100-85, at 50.

*5° Section 20(e) of the Exchange Act, titled “Prosecution of Persons
Who Aid and Abet Violations,’ explicitly provides that for purposes of

a civil action seeking injunctive relief or a civil penalty, “any person that
knowingly or recklessly provides substantial assistance to another person
in violation of a provision of this title, or of any rule or regulation issued
under this title, shall be deemed to be in violation of such provision to
the same extent as the person to whom such assistance is provided.” See
Section 20(e) of the Exchange Act, 15 US.C. § 78t(e).

251 See Complaint at 11-12, SEC». Elkin, supra note 50, ECF 1.

>? SEC v. Elkin, supra note 50, ECF 6-9 (final judgments).

3 See, €.85 Complaint, SEC v. Nature’s Sunshine Products, Inc., e¢ a/., No.
09-cv-672 (D. Utah, July 31, 2009), ECF No. 2, available at http://www.
sec.gov/, litigation/ litreleases/2009/1r2.1162.htm.

254 See Admin. Proceeding Order, In re Watts Water Technologies,

Inc. and Leesen Chang, Exchange Act Release No. 65555 (SEC

Oct. 13, 2011), available at http://www.sec.gov/litigation/

admin/201 1/34-65555.pdf.

55 Id. at 2, 4, 6-7.

*56 Exchange Act Rule 13b2-1, 17 C.ER. § 240.13b2-1.

5715 US.C. § 78m(b)(5).

*58 Section 3(a)(9) of the Exchange Act, 15 U.S.C. § 78c(a)(9).

*59 Exchange Act Rule 13b2-2, 17 C.ER. § 240.13b2-2

260) Complaint, SEC v. Jennings, No, 11-cv-1444 (D.D.C. Jan. 24,

2011), ECF No. 1, available at http://www.sec.gov/litigation/
complaints/20 11/comp21 822.pdf.

aE Complaint, id., ECF No. 1; Final Judgment, id., ECF No. 3.

262 Serious Fraud Office, Innospec Ltd: Former CEO admits bribery to
falsify product tests (July 30, 2012), available at http://www.sto.gov.

uk/ ‘press-room/ latest-press-releases/ press-releases-20 12/ innospec-ltd--
former-ceo-admits-bribery-to-falsify-product-tests.aspx.

6315 US.C. § 78m(b)(4)-(5). Congress adopted this language in 1988 in

HOUSE_OVERSIGHT_022616
"
IMAGES-008-HOUSE_OVERSIGHT_025882.txt,"From: Martin Weinberg

Sent: 4/23/2015 8:11:57 PM

To: jeffrey E. [jeevacation@gmail.com
cc: Martin —
Subject: Re: ATTORNEY-CLIENT PRIVILEGE

Importance: — High

Martin G. Weinberg, Esq.

20 Park Plaza, Suite 1000

Boston, MA 02116

This Electronic Message contains
information from the Law office of
Martin G. Weinberg, P.C.,

and may be privileged. The
information is intended for the
use of the addressee only. If you
are not the addressee, please note
that any disclosure, copying,
distribution, or use of the
contents of this message is

prohibited.

On Thu, 4/23/15, jeffrey E. <jeevacation@gmail.com> wrote:

Subject: Re: ATTORNEY-CLIENT PRIVILEGE
To: ""Martin Weinberg""

Martin G. Weinberg, Esq.

HOUSE_OVERSIGHT_025882
"
IMAGES-006-HOUSE_OVERSIGHT_021756.txt,"“T will include all our standard language regarding resolving all criminal liability and
I will mention co-conspirators, but I would prefer not to highlight for the judge all of
the other crimes and all the other persons we could charge,” Villafafia wrote.

At Epstein’s sentencing, assistant Palm Beach prosecutor Lanna Belohlavek was
questioned by the judge about whether all of Epstein’s victims were told about the
deal, as required by law.

“Are there more than one victim?” Circuit Court Judge Deborah Dale Pucillo asked
Belohlavek at the June 30, 2008 sentencing.

“There’s several,” Belohlavek replied.

“Are all the victims in both these cases in agreement with the terms of the plea?” the
judge asked.

“Yes,” Belohlavek said.

Coincidentally, the lawyer representing one of the victims was in the courtroom that
day. He told the Herald that neither he, nor his client, was told about the agreement.

Acosta has not responded to the Herald’s repeated requests for comment. A
spokesman at the Labor Department told the Washington Post last month: “The
office’s decisions were approved by departmental leadership and followed
departmental procedures.”

In the past, Acosta has said that he believed the deal was the best chance
prosecutors had of ensuring that Epstein spent some time behind bars and was
required to register as a sex offender. Epstein served 13 months in the Palm Beach
County jail — but he was allowed to leave for up to 12 hours a day as part of a work
release program not normally offered to convicted sex offenders.

Epstein’s victims, now in their late 20s and 30s, are fighting to have his deal
overturned and Epstein sent to prison.

Bradley Edwards, who represents several of Epstein’s victims, defended Villafana,
saying he believed that she was directed to settle the case and not inform Epstein’s
victims about the deal.

“In my conversations with her, I came to believe that she was in a difficult position.
She never came out and said this, but I suspected that someone above her directed
her to do what she did,” Edwards said.

DARREN K. INDYKE

5300 W. Atlantic Avenue, Suite 602
Delray Beach, Florida 33484
Telephone:
Telecopier:
Mobile:
email:

HOUSE_OVERSIGHT_021756
"
IMAGES-009-HOUSE_OVERSIGHT_027404.txt,"Is Read: No

Is Invitation: No

GUID: 70EFE6BC-6930-4BA 1-AC3F-ADD9D2591D9F
Message: Yes for 5 yrs

Sender: e:jeeitunes@gmail.com

Time: 08/21/18 02:23:22 PM (556579402)

Flags: 1085445

Is Read: No

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GUID: DF0208CD-5615-4894-B68C-0B3 13E19CAC7
Message: He already did

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Flags: 1060865

Is Read: Yes

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GUID: FBAA6033-E3D4-4415-ADB3-1943592CB3C9
Message: Wow!!

Sender: e:jeeitunes@gmail.com

Time: 08/21/18 02:23:59 PM (556579439)

Flags: 1085445

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GUID: F419827B-4B8D-4AC6-85F5-C8FD7E93673A
Message: Cohen said he broke the law at trumps direction

Sender: +

Time: 08/21/18 02:24:36 PM (556579476)

Flags: 1060865

Is Read: Yes

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GUID: 5F8BE06A-0CFD-4BE6-A425-OFBDD858423B
Message: |) 1)

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Time: 08/23/18 06:58:47 AM (556725527)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 0768787E-D642-439E-A245-F4612987300A
Message: How is it?

Sender:

Time: 08/23/18 07:02:13 AM (556725733)
Flags: 1060865

Is Read: Yes

Is Invitation: No

HOUSE_OVERSIGHT_027404
"
IMAGES-005-HOUSE_OVERSIGHT_019071.txt,"Automated Serial Permanent Charge-Out
FD-5a (1-5-94)

Date: 06/21/07 Time: 13:41
Case ID: 31E-MM-108062 Serial: 55
Description of Document:
Type : FD909
Date : 01/15/07

To : b3
From : MIAMI

Reason for Permanent Charge-Out:
transfer to subpoena sub
Transferred to:

Case ID: 31E-MM-108062-SBP Serial: 58

b7C

3/e- MM-/0 F042. 68

HOUSE_OVERSIGHT_019071
"
TEXT-001-HOUSE_OVERSIGHT_026668.txt,"﻿February 16, 2017
In the fourth quarter of 2016, Boothbay Absolute Return Strategies, LP (the “Fund”) earned a net return of
approximately +0.04%. 1,2
Since the Fund opened on July 1, 2014, it has returned 16.10%. 1,2 In that period, the Fund’s largest monthto-month
drawdown has been -1.4%, versus -8.9% for the S&P 500, -1.5% for the HFRX Absolute Return
Index, -8.9% for the HFRX Global Hedge Fund Index and -5.3% for the HFRX Market Neutral Index.
Performance and Commentary
October November December 2016 ITD
Sharpe
ITD*
Sortino
ITD*
Boothbay Absolute Return
Strategies, L.P
-0.14% -0.05% 0.23% 3.84% 16.09% 2.25 6.37
S&P 500 -1.94% 3.42% 1.82% 9.54% 14.21% 0.51 0.93
HFRX : Equity Market Neutral -0.13% -0.04% -1.07% -5.08% 2.51% 0.23 0.48
HFRX : Absolute Return -0.39% -0.16% 0.20% 0.31% 2.13% 0.36 0.98
HFRX : Global Hedge Fund -0.57% 0.87% 0.86% 2.50% -3.50% -0.42 -0.43
* For Sharpe/Sortino Ratio calculations, 1-Month LIBOR is set as the risk free rate.
We ended 2016 with a slightly positive quarter, bringing net performance for the year to +3.84%. Consistent
with the trend seen earlier in the year, 2016 has been described by investors and financial media as among
the worst years for multi-manager multi-strategy firms, on both an absolute and risk-adjusted return basis.
While we consider earning +3.84% to be disappointing for our strategy on an absolute return basis, doing so
with a maximum drawdown of 1.4%, and in what was a challenging environment for low-net exposure
relative value strategies, leaves us viewing 2016 as a “good” bad year.
For a second consecutive year, the Fund generated positive net returns overall on the days when the S&P
500 Index was negative. The S&P had 121 losing days in 2016 (producing losses of over -66% in total) 3 and
on those days, we were positive approximately 55% of the time, and generated almost half of our total net
returns for the year. Given that we aim to be a protector of capital in markets that most managers will lose
capital, this sampling is especially gratifying. As we look forward, we remain as encouraged as ever that our
combination of unique “niche” strategies and strategies with structural edge, alongside our allocations to
low-beta alpha-generating stock pickers and quantitative portfolio managers, will deliver strong riskadjusted
returns over various market cycles.
Before going into the performance attribution for Q4 and 2016 overall, we want to re-visit a topic discussed
in our Q1 2016 letter related to hedge fund crowding, which investors have continued to ask us about the
past several months. The question raised is typically some variation of the following: Given that Boothbay
allocates to low-net equity focused managers, who may have similar strategies to those that comprise other
multi-manager platforms, why has Boothbay been less-exposed to deleveraging and hedge fund crowding
1 Assumes Boothbay Absolute Return Strategies, LP, Onshore Accelerator Share Class 1A (2-year lock and 14% incentive allocation).
2
Performance figures reported herein are shown unaudited, net of fees/allocations and expenses; include the reinvestment of dividends, capital gains,
and other earnings; and may be subject to adjustment.
3 S&P 500 negative-return analysis calculated using Bloomberg closing prices for SPX Index.
effects, which seem to impact other multi-manager funds in a greater way?
Platform Beta
Equity market performance is a large predictor of returns for many long/short equity hedge funds, due to the
large equity beta exposure with which many funds run. 4 At Boothbay, we generally run with limited net
equity market exposure (on average 6-8% historically) and have maintained low correlation to market
indices. While the sources of our returns will generally be idiosyncratic, there is no question that the
tremendous amount of capital that has flown into the low-net multi-manager, i.e. “platform”, category, has
created an even greater risk of exposure to “Platform Beta” for some of our managers, even while avoiding
broader equity market beta.
Platform Beta is a term we have heard used to describe the overlap of long and short positions, across some
of the largest market-neutral, multi-manager hedge fund managers. While these overlapping names may be
viewed as “smart money” positioning in some sense, there is also meaningful risk associated with being in
crowded longs and shorts due to the viciousness of the cascading effects when these portfolios are being
liquidated, or re-sized quickly, as we observed in Q1 2016. For a variety of reasons, we believe that
Platform Beta has a true positive expectancy over time and with much less risk than other traditional factor
risks, especially ones taken on by long-only or long-biased investors. While we consider it to be an obvious
goal to avoid material exposure to all known market risk factors, we also attempt to reduce our more
difficult to measure Platform Beta exposure when possible. Despite the positive return expectation of
Platform Beta, we do not think a large or concentrated exposure to this factor is beneficial. Perhaps even
more importantly, we do not believe that all alpha is created equally, and we are trying to provide the most
uncorrelated alpha as possible to our investors.
So how do we minimize overexposure to Platform Beta? We can monitor data that imperfectly points to
crowded names or themes, but the most direct way we seek to avoid crowded names is through our overall
portfolio construction and manager-selection process. This is demonstrated in our continued focus on “First
Loss” allocations as well as investments in the strategy category we call “Other”, which is comprised of
niche strategies outside our more traditional long/short fundamental and quantitative strategies. These
alternative categories have served as a valuable source of alpha as well as diversification away from
Platform Beta. Additionally, even in our more traditional strategies, we focus on allocating to smaller
managers who can have larger parts of their portfolios in smaller capitalization companies, which tend to be
less trafficked by the larger funds, and therefore are also less subject to the effects of large industry
deleveraging. We cannot avoid all of the dangers of hedge fund deleveraging but our conscious attempts to
target differentiated strategies, and to limit concentration, has allowed us to be less impacted by these flows
than several other multi-manager platforms.
Portfolio Attribution and Risk
Within our Multi-Strategy platform, the “Other” category was the largest contributor for both Q4 and 2016
overall, contributing gross returns of +0.82% in Q4 and +2.19% YTD. The remaining quarterly and full-year
gross return attribution within the Multi-Strategy platform were: “Fundamental L/S” at -0.86% in Q4 and
+1.16% YTD, and “Quantitative” at 0.29% in Q4 and -1.53% YTD. Our First Loss platform allocations
contributed gross-returns of +0.72% in Q4 and +6.60% YTD. 5
The Fund averaged approximately 0.39% daily Value at Risk during Q4 vs. 0.41% in Q3 (95% Confidence
Interval, excluding First-Loss allocations). As stated in last quarter’s letter, we expect to see an increase in
our VaR during Q1 2017 primarily through a combination of new manager allocations and a pick-up in
overall market volatility due to macro events on the horizon. We expect the Trump Presidency, additional
4
For example, Goldman Sachs Prime Services reported hedge fund net exposure to be between 50% and 67% throughout 2016. (Goldman Sachs
Securities Division: Prime Services Weekly 12.22.2016)
5
Performance Attribution figures reported herein are shown unaudited, gross of fees/allocations and expenses; include the reinvestment of dividends,
capital gains, and other earnings; and may be subject to adjustment.
interest rate hikes by the Fed, and global geopolitical catalysts (e.g. elections, referendums) in 2017 to
contribute to a rise in market volatility. These factors should help us to approach our target daily VaR of
0.80%, and also provide an attractive environment for many of our strategies to generate alpha. While
having more risk on the balance sheet does imply that our return volatility and drawdowns will be larger, it
is reasonable to expect that any positive returns would increase as well.
Manager Attribution:
�
�
�
For the fourth quarter of 2016, 42% of “Fundamental L/S,” 45% of “Quantitative,” and 67% of
“Other” managers were profitable.
The top five performing managers contributed 38% of the quarterly total positive return, with the
largest single manager positively contributing 9%. The bottom five performing managers made up
56% of negative returns, with the largest single manager negatively contributing 17%.
While 2015 was a stronger year for our strategy overall compared to 2016, we were pleased to see
a continual diversification of return attribution across our managers in 2016. The below statistics
compare 2016 with 2015 and present a similar picture of limited return concentration.
Positive
Attribution
Negative
Attribution
2016 Total 15.94% -7.42%
Top 5 Contributors 6.48% -2.54%
Largest Contribution 2.25% -0.67%
2015 Total 22.77% -6.92%
Top 5 Contributors 7.31% -3.55%
Largest Contribution 1.82% -1.03%
� As of December 2016, the Multi-Strategy platform had 28 Fundamental L/S Equity managers, 23
Quantitative managers, 10 “Other” managers (these Multi-Strategy platform figures include 9
Hybrid allocations 6 ), and 13 First-Loss managers.
Assets Under Management
As of January 1, 2017, Boothbay’s total AUM was approximately $190 million ($230 million including
capital from First-Loss share class).
As always, I am available to answer all investment and business inquiries. Peter Bremberg and Daniel
Bloom are available to answer any questions related to financial operations.
Sincerely,
Ari Glass
Managing Member
Boothbay Fund Management LLC
6
“Hybrid allocations” refers to accounts for which we have both a First-Loss and Multi-Strategy investment.
IMPORTANT DISCLOSURES
The information presented herein is confidential and proprietary, and may not be (i) used by, or on behalf of, you for any purpose other than
evaluating an initial or continued investment in Boothbay Absolute Return Strategies, LP (the “Fund”), or (ii) disclosed by, or on behalf of, you to
any third party, in each case except with the prior written consent of Boothbay Fund Management, LLC (“Boothbay”). This communication is for
information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
This letter includes forward-looking statements. Although Boothbay believes that the expectations and views reflected in such statements are
reasonable, such statements are subject to a number of assumptions, risks and uncertainties which may cause actual results, performance or
achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking
statements. Forward-looking statements, and the expectations and views reflected therein, expressed in this letter may change at any time, without
notice. Prospective investors are cautioned not to invest based on these forward-looking statements.
Performance figures (which include the reinvestment of dividends, capital gains and other earnings) included herein are based on unaudited
information, may be subject to adjustment and are shown net of fees/allocations and expenses. Results for individual investors may vary based on,
among other things, the timing of capital contributions and withdrawals.
An investment in the Fund is speculative and involves a high degree of risk. Past performance is not necessarily indicative of future results. There
can be no assurances that the Fund will continue to have a similar return on invested capital because, among other reasons, there may be
differences in economic and market conditions, regulatory and political climate, portfolio size, investment opportunities, expenses and structure.
Accordingly, when deciding to make an investment, potential investors are urged to review carefully all disclosure documentation, including the
Fund’s confidential private offering memorandum, and consult with their counsel and advisers.
This material is not intended to represent the rendering of accounting, tax, legal or regulatory advice. A change in the facts or circumstances of
any transaction could materially affect the accounting, tax, legal or regulatory treatment for that transaction. Nothing herein should be interpreted
to represent concentration limits, exit strategies or sector allocation guidelines, all of which are subject to change without notice.
References to the S&P500 and any other benchmark(s) referred to herein are for illustrative purposes only. Any such benchmarks are included
merely to show general trends in the markets in the periods indicated and are not intended to imply that the Fund’s portfolio is similar to any such
benchmarks either in composition or risk. Comparisons to benchmarks have limitations because natural characteristics of such benchmarks, such
as volatility, among other things, are likely to differ from those of the Fund. Boothbay does not attempt to track a benchmark and there is no
guarantee that the Fund will meet or exceed any such benchmark.
"
IMAGES-001-HOUSE_OVERSIGHT_010955.txt,"employers’ expense is part of investment in human capital, and reasoned that

employers won't pay it unless they expect eventual recovery with interest.

What Becker stopped short of saying is that the same is true of any investment in
anything by anyone. When we invest for our own benefit, we expect recovery by
ourselves. When we invest for the sake of others, we expect recovery by them.
Recovery means recovery of depreciation. Our parents would not have invested in
our human capital without expected recovery of our human depreciation by us, and
the young further invest the work of learning in themselves because they expect

that to be recovered with interest as well.

There is another proof which I call the deadweight loss rule. Capital of any kind is
present value of cash flow, meaning expected realizations in transfer or taste
satisfaction. Deadweight loss means decapitalization with neither. It follows that
deadweight loss, although a common reality, is implicitly unexpected. But human
depreciation, like plant depreciation, is expected from first investment. That rules
out deadweight loss, and makes human depreciation expected as cash flow by

elimination of alternatives.

Each proof is sufficient. The first expresses what I call the maximand rule: we
maximize risk-adjusted rate of return. Robert Turgot observed this in 1766. I'll say
more about that in the next chapter. It takes little thought to realize that maximizing
risk-adjusted return begins with recovery of investment, and that this means
recovery of depreciation or amortization. We are depleted like the oil well, although
we create value too. The second proof needs only the assumption that human
depreciation is foreseen. It adds the specification that human depreciation is
realized in human cash flow. That turns out to mean that it is realized in pay. The
solution to the age-wage puzzle is that pay does not equal and compensate realized

work above. It compensates that plus human depreciation. I call this the “pay rule”.

Chapter 2: Fast Forward 1/06/16 15

HOUSE_OVERSIGHT_010955
"
TEXT-001-HOUSE_OVERSIGHT_027576.txt,"Source Entry: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2019-02-13\ 
on 2019-02-04 at 08.06.46.ichat 
Service: iMessage 
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Chat Room: 
Participants: jee, 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
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Is Read: No 
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now it is only= 
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Message: I started a small clot bank here at the UW to store all clots we removed from 
HOUSE OVERSIGHT 027576 
brains (and included others from the body side too for peripheral clots) This is a 
paper about clot analysis I'm a cute thrombectomy The journal is a big One the 
American Heart Assn Stroke journal so that's cool 
Sender: 
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Message: (Not im a cute thrombectomy) 0 
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HOUSE OVERSIGHT 027577 
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Message: Tell bg he owes me s call 
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Message: Will do 
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Message: Tons more Fun and over the long term, more benefit to Humanity for sure but he 
wasn't too interested last time. I even got him a copy of Darwin's book. Will try again 
tonight. 
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HOUSE OVERSIGHT 027578 
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shift soon 
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Message: Was great to see him He seems happier than I've seen him in a while 
discussed the slides talked about science ate cheeseburgers I told him he owed you a 
call and he didn't say anything he asked how you were and i said you were doing great 
and lots of science 
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seem timely. Now that Kim is gone. Silly 
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neurological-institute 
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HOUSE OVERSIGHT 027582 
"
IMAGES-008-HOUSE_OVERSIGHT_026353.txt,"Google bras with the o's as cups? Did they believe Google was a good company name because men would be drawn to the oo?
-Soon after this, did you have an assistant schedule a meeting with Michael for advice about the media as both Vanity Fair and
New York Magazine were profiling you? Did you also ask Graydon Carter for advice, expressing doubts about increased public
profile, to which Carter said you should have moved to a Queens 2 bedroom if you wanted to avoid publicity?

-Have you had a daily massage for several years? When you got your daily massage in Palm Beach, did the masseuses often
come from parlors your termed ""Jack Shacks"" ? Did they sometimes have ""happy endings"" ? Would there be many different

masseuses, recommended by word of mouth?

-After Palm Beach police started investigating you, did you ask Alan Dershowitz to come to Florida to provide you with legal

help?

please note

The information contained in this communication 1s
confidential, may be attorney-client privileged, may
constitute inside information, and 1s 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_026353
"
IMAGES-001-HOUSE_OVERSIGHT_011493.txt,"his twentieth birthday. Jacob did still insist on helping financially, which
allowed my father to enroll at the Hebrew University in Jerusalem.

He did well in his studies — literature, history and philosophy — but
abandoned them after two years. His explanation for not staying on, when I
asked him years later, was that with the accelerating activity of the Zionist
pioneers, it felt wrong to him to spend his days going to lectures, reading books
and writing essays. I am sure that he also felt isolated and alone, with Meir, the
only link to his life before Palestine, working in Haifa on the coast, four or five
hours by bus from Jerusalem. When he began looking for a way to become part
of the changes going on around him, Mishmar Hasharon didn’t yet exist. Its
founding core — a dozen Russian Jewish pioneers — was still working on
argicultural settlements near Herzliya, north of Tel Aviv, until they found a
place to start their kibbutz. But they had been joined by several young men and
women who, though a year or two older than my father, had been with him at
the Hebrew High School in Ponovezh. He decided to join them.

Late in 1932, the Jewish National Fund, supported financially by leading
Jewish figures in western Europe and the US, bought 2,000 acres from an Arab
landowner near Wadi Khawaret. The area was set aside for three Jewish
settlements: a moshav called Kfar Haim, where the land was divided into family
plots, and two kibbutzim. One was called Ma’abarot. Next to it was Mishmar
Hasharon. My father was among the seventy youngsters who set off in three
trucks with everything they figured they would need to turn the hard, scrubby
hill into a kibbutz. They built the core from pre-fab kits: wooden huts to sleep in
and a slightly larger one for the dining hall. They dug a well and ordered a
pump from Tel Aviv, at first for drinking and washing, but soon allowing them
to begin a vegetable garden, a dairy with a dozen cows, a chicken coop with a
few hundred hens, and to plant a first orange grove and a small vineyard.

Still, by the time my mother arrived three years later, there were not enough
citrus trees, vines, cattle and chickens to occupy a membership which now
numbered more than 200. Along with some of the others, my father worked
outside the kibbutz, earning a regular paycheck to help support the collective.
On his way back, he would stop at the post office in Tel Aviv to pick up letters
and packages for the rest of the kibbutz — including Ya’akov Margalit’s love
letters to my mother. That was how my parents’ friendship began, how a
friendly hello led to shared conversation at the end of my father’s working day,
and how, a few years later, my mother decided to spurn her Gordonia suitor in
favor of Srulik Brog, the postman. It was not until 1939 that they moved in

22
HOUSE_OVERSIGHT_011493
"
IMAGES-005-HOUSE_OVERSIGHT_020196.txt,"44

CHAPTER THREE

Tinker

“Tt’s like the boiling frog. You get exposed to a little bit of evil, a little bit of rule-breaking, a little bit of
dishonesty... you can come to justify it.”

—Snowden in Moscow, 2014

Edward John Snowden was born on June 21, 1983 in Elizabeth City, North Carolina. His
parents, Lon Snowden and Elizabeth “Wendy” Barrett, according to their marriage records, wed
when they were both 18 in 1979. The following year they had a daughter, Jessica.

Lon Snowden, like his father before him, served in the U.S. Coast Guard. He was stationed at
its main aviation base, where his father-in-law Edward John Barrett, was an officer and rising star
of the Coast Guard. While Edward Snowden was still a child, his grandfather would become not
only an admiral but the head of the Coast Guard’s entire aviation service. Admiral Barrett would
be the only grandfather, Edward Snowden would ever know. His paternal grandfather died
before he was born in a fatal car crash. He had had a drinking problem and killed a woman in a
prior car crash.)

When Lon was transferred to a Coast Guard base near Baltimore in 1992, the family moved to
Maryland. Lon bought a two-story house in Croften, Maryland, a residential community very
close to the NSA’s headquarters building at Fort Meade. The two children, Edward, who was
nine, and Jessica, who was 12, were enrolled in local public schools in Croften.

Jessica was a top student. She graduated high school, completed both her courses at University
of Maryland and went on to law school, where she graduated with honors. Unlike his sister,
Snowden experienced a string of failures in his education. In 1998, after only one year of classes,
he dropped out of Arundel High School. According to school records, he stopped attending
classes at the age of fifteen. He later attributed his absence from school to a medical problem,
mononucleosis, but according to Robert Mosier, a spokesman for Anne Arundel County public
schools, there is no record of any medical illness. Brad Gunson, who knew him before he dropped
out of high school, recalled in an interview with the Washington Post only that he had a high-
pitched voice, liked magic cards, and played fantasy video games. Nor did Snowden receive
home schooling or ever get a high school diploma.

Instead, Snowden became the product of a broken home. His parents were entangled in a
messy divorce fight until he was seventeen. By this time Jessica had her own apartment. When his

HOUSE_OVERSIGHT_020196
"
IMAGES-002-HOUSE_OVERSIGHT_013982.txt,"Did I quit the rat race because it’s bad, or just because I couldn’t hack it? Did I just cop out?

3. Is this as good as it gets? Perhaps I was better off when I was following orders and ignorant of the
possibilities. It was easier at least.

Am I really successful or just kidding myself?

5. Have I lowered my standards to make myself a winner? Are my friends, who are now making
twice as much as three years ago, really on the right track?

6. Why amI not happy’? I can do anything and I’m still not happy. Do I even deserve it?

Most of this can be overcome as soon as we recognize it for what it is: outdated comparisons using the
more-is-better and money-as-success mind-sets that got us into trouble to begin with. Even so, there is a
more profound observation to be made.

These doubts invade the mind when nothing else fills it. Think of a time when you felt 100% alive and
undistracted—in the zone. Chances are that it was when you were completely focused in the moment on
something external: someone or something else. Sports and sex are two great examples. Lacking an
external focus, the mind turns inward on itself and creates problems to solve, even if the problems are
undefined or unimportant. If you find a focus, an ambitious goal that seems impossible and forces you to

grow,®! these doubts disappear.

In the process of searching for a new focus, it is almost inevitable that the “big” questions will creep
in. There is pressure from pseudo-philosophers everywhere to cast aside the impertinent and answer the
eternal. Two popular examples are “What is the meaning of life?” and “What is the point of it all?”

There are many more, ranging from the introspective to the ontological, but I have one answer for
almost all of them—I don’t answer them at all.

I’m no nihilist. In fact, ?ve spent more than a decade investigating the mind and concept of meaning,
a quest that has taken me from the neuroscience laboratories of top universities to the halls of religious
institutions worldwide. The conclusion after it all is surprising.

I am 100% convinced that most big questions we feel compelled to face—handed down through
centuries of overthinking and mistranslation—use terms so undefined as to make attempting to answer
them a complete waste of time.®2 This isn’t depressing. It’s liberating.

Consider the question of questions: What is the meaning of life?

If pressed, I have but one response: It is the characteristic state or condition of a living organism. “But
that’s just a definition,” the questioner will retort, “that’s not what I mean at all.” What do you mean,
then? Until the question is clear—each term in it defined—there is no point in answering it. The
“meaning” of “life” question is unanswerable without further elaboration.

Before spending time on a stress-inducing question, big or otherwise, ensure that the answer is “yes”
to the following two questions:

1. Have I decided on a single meaning for each term in this question?

2. Can an answer to this question be acted upon to improve things’?

“What is the meaning of life?” fails the first and thus the second. Questions about things beyond your
sphere of influence like “What if the train is late tomorrow’?” fail the second and should thus be ignored.
These are not worthwhile questions. If you can’t define it or act upon it, forget it. If you take just this
point from this book, it will put you in the top 1% of performers in the world and keep most
philosophical distress out of your life.

Sharpening your logical and practical mental toolbox is not being an atheist or unspiritual. It’s not
being crass and it’s not being superficial. It’s being smart and putting your effort where it can make the

HOUSE_OVERSIGHT_013982
"
IMAGES-008-HOUSE_OVERSIGHT_026435.txt,"29 Route de Pré-Bois
Case postale 490
1215 Genéve 15
Suisse

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_026435
"
TEXT-001-HOUSE_OVERSIGHT_031472.txt,"From: Weingarten, Reid [ 
Sent: 8/5/2016 7:11:50 PM 
To: Jeffrey Epstein (jeeyacation@gmail.com) [jeeyacation@gmail.com] 
Subject: FW: Audio recording 
Importance: High 
From: Will Bohlen [mailto 
Sent: Friday, August 05, 2016 1:49 PM 
To: Keough, Michael; King, Kathryn; Miller, Michael; Katelyn Wohlford; Y. Alp Aslandogan; Weingarten, Reid; Remzi 
Kulen; Weinstein, Jason; Osman Oz.; David Mann; Erin Billings; Drake, William 
Cc: Eliopoulos, Steven 
Subject: RE: Audio recording 
Wall St Journal: 
http://www.wsj.com/articles/lawyers-for-imam-wanted-by-turkish-authorities-fear-for-their-clients-life-1470418445 
Lawyers for Imam Wanted by Turkish 
Authorities Fear for Their Client's Life 
Fethullah Gulen has been accused by Turkish President Erdogan of 
ordering the launch of July coup 
DEVLIN BARRETT 
Aug. 5,2016 1:34 p.m. ET 
Lawyers for the imam living in Pennsylvania whom Turkish authorities accuse of directing a coup last month in 
that country said Friday they fear for his life and may ask U.S. authorities to help protect him. 
Since the failed coup that led to the deaths of 271 people, Turkish President Recep Tayyip Erdogan has accused 
the imam, Fethullah Gulen, of issuing instructions to launch the coup, a charge Mr. Gulen has denied. 
Turkish authorities have demanded the U.S. extradite Mr. Gulen immediately to Turkey, but The Wall Street 
Journal reported Thursday that U.S. officials don't expect to do that, citing people familiar with the discussions. 
U.S. officials see problems with the evidence presented thus far by Turkey, and they are concerned 
about strident public statements made by Turkish leaders against Mr. Gulen, those people said. 
Mr. Erdogan has called Mr. Gulen and his supporters a terrorist network, a charge U.S. officials have long 
discounted. Turkey in May officially designated Mr. Gulen's network a terrorist organization, making 
membership a crime under Turkish law. 
Mr. Erdogan's government has pressed the Obama administration since the coup to extradite Mr. Gulen, 
arguing that pursuing the imam is part of the broader campaign against terrorism. At times, the Turkish leader's 
HOUSE OVERSIGHT 031472 
aides have said Ankara would view as hostile any foreign government that gave sanctuary to leaders of the 
Gulen movement. 
Turkey hasn't yet made a formal extradition request to the U.S., and Turkish officials say they plan to provide 
more evidence to the Justice Department. 
Mr. Gulen, 75 years old, came to the U.S. in 1999, and has a devoted following in Turkey and other countries. 
At a press conference in Washington on Friday, Mr. Gulen's lawyers said they have spoken to the Justice 
Department about the demands for extradition but are unaware of the U.S. government's thinking or plans. 
Asked if they feared for his life, one of Mr. Gulen's lawyers, Reid Weingarten said, ""We do. We're very 
concerned about his safety."" The lawyer said they are discussing whether to ask U.S. authorities for help in 
safeguarding their client. 
A Turkish court has issued a warrant for Mr. Gulen's arrest, and Turkish and U.S. authorities have privately 
discussed scenarios in which Mr. Gulen might be extradited. But several U.S. officials said they cannot now 
envision a scenario in which they turn him over to Turkey. 
""It would be unprecedented and appalling if the U.S. took a frail, almost octogenarian, plopped him on a plane 
to go back into that kind of setting with the hideous things that are being said about him by the entire Turkish 
government,"" said Mr. Weingarten. 
""The bluster, the conspiracy theories, and the threats of Mr. Erdogan are not strong enough to overwhelm the 
American legal system,"" he added. ""And for that reason we believe that Mr. Gulen should not and will not be 
extradited."" 
Mr. Weingarten said the chances that his client helped plot a coup from his base in the Poconos is ""about as 
likely"" as a meteor striking the lawyer's office while he was speaking. 
Write to Devlin Barrett at devlin.barrett@wsj.com  
From: Keough, Michael [mailtoliiMINFORMEMI 
Sent: Friday, August 05, 2016 1:28 PM 
To: Will Bohlen 	King, Kathryn W; Miller, Michael 
atelyn Wohlford <1>; 	Y. Alp Aslandogan 
< 	Weingarten, Reid < 	>; Remzi Kulen <I>; 
Weinstein, Jason (1>; 	Osman Oz. <,01.1>; 	David Mann 
<>; 
Erin Billings < 	:; Drake, William IMMMI> 
HOUSE OVERSIGHT 031473 
Cc: Eliopoulos, Steven < 
Subject: RE: Audio recording 
USA TODAY and Al Arabiya as well: 
http://www.usatoday.com/story/news/world/2016/08/05/cleric-extradition-turkey-coup/88288220/ 
http://english.alarabiya.net/en/News/middle-east/2016/08/05/US-eyaluating-new-Turkish-documents-on-
Gulen.html  
Michael A. Keough 
Associate 
direct I 
Steptoe 
Steptoe & Johnson LLP 
1114 Avenue of the Americas I New York, NY 10036 
www.steptoe.com  
fax 
This message and any attached documents contain information from the law firm Steptoe & Johnson LLP that may be confidential and/or privileged. If 
you are not the intended recipient, please do not read, copy, distribute, or use this information. If you have received this transmission in error, please 
notify the sender immediately by reply e-mail and then delete this message. 
From: Will Bohlen [mailto:  
Sent: Friday, August 05, 2016 1:27 PM 
To: Keough, Michael; King, Kathryn; Miller, Michael; Katelyn Wohlford; Y. Alp Aslandogan; Weingarten, Reid; Remzi 
Kulen; Weinstein, Jason; Osman Oz.; David Mann; Erin Billings; Drake, William 
Cc: Eliopoulos, Steven 
Subject: RE: Audio recording 
BBC story: 
http://www.bbc.comInews/world-europe-36988726 
Turkey coup bid: Fethullah Gulen's lawyers 
fear attack on his life 
• 25 minutes ago 
Lawyers for US-based Turkish cleric Fethullah Gulen say they fear an attack on his life, in the wake of the failed coup 
attempt on 15 July in Turkey. 
Turkey has issued an arrest warrant for Mr Gulen, accusing him of orchestrating the coup attempt. It has called on the US to 
extradite him. 
Mr Gulen denies any involvement. 
Turkey has cracked down heavily in the wake of the coup attempt. On Friday the governing AK Party ordered an internal purge 
of Gulen supporters. 
More than 270 people died in events surrounding the coup attempt. 
HOUSE OVERSIGHT 031474 
Speaking at a news conference in Washington, Mr Gulen's lawyers said they expected him to remain at the Pennsylvania 
compound where he lives in self-imposed exile, and not attempt to flee. 
Mr Gulen is a reclusive figure who rarely makes contact with the media. 
Although Turkey has demanded his extradition, it has yet to make a formal request. 
The US has said its judiciary will consider a request if and when it is filed. It also asked for evidence of the cleric's involvement 
in the coup attempt, which Turkey says it has supplied. 
Mr Gulen's lawyers said it was most unlikely any extradition request would stand up in a US court and almost no chance that 
their client would get a fair trial in Turkey, given what had been said against him there since the coup attempt. 
One of the lawyers, Reid Weingarten, said: ""It would be unprecedented and appalling if the United States took a frail almost-
octogenarian, plopped him on a plane to go back into that kind of setting with the hideous things that are being said about him 
by the entire Turkish government."" 
Much of Turkey's crackdown has targeted perceived supporters of the cleric. 
Tens of thousands of public sector workers have been suspended or dismissed, with many having their passports cancelled. 
There has also been a massive reshuffle of the military. 
About 18,000 people have been detained or arrested. 
Now local branches of the AK Party have been told to begin a purge of suspected Gulenists in their ranks. 
Mr Gulen had been a close ally of President Recep Tayyip Erdogan until a bitter split between his movement and the party of 
the president three years ago. 
Turkey has listed Mr Gulen's movement as a terrorist organisation. 
From: Will Bohlen 
Sent: Friday, August 05, 2016 1:19 PM 
To: 'Keough, Michael' <11.1=:›; King, Kathryn ; Miller, Michael 
Katelyn Wohlford < ›; Y. Alp Aslandogan 
Weinstein, Jason 
<IMM>; Erin Billings aliMilMi›; Drake, William< 
Cc: Eliopoulos, Steven 
Subject: RE: Audio recording 
; Weingarten, Reid <>; Remzi Kulen 
›; Osman Oz.__________________________________ David Mann 
Thank you, Michael. 
Reuters story just posted: 
http://www.reuters.com/article/us-turkey-security-gulen-idUSKCN10G1P8?i1=0 
World I Fri Aug 5, 2016 1:07pm EDT 
Related: WORLD 
>; 
HOUSE OVERSIGHT 031475 
Lawyers for U.S.-based 
Turkish cleric fear 
attacks on his life 
WASHINGTON I BY JULIA HARTE 
Lawyers for U.S.-based Turkish cleric Fethullah Gulen said on 
Friday they feared attacks on his life following Turkey's 
demands that he be extradited to face allegations that he 
ordered a failed coup against the government last month. 
The lawyers said they expected Gulen, who has denied any 
involvement in the July 15 coup attempt, will remain in his 
remote mountain compound in Pennsylvania. 
""We have read concerns from Turkey that Mr. Gulen, this 
elderly, frail religious leader, is going to flee to another country,"" 
said Steptoe & Johnson LLP attorney Reid Weingarten on 
Friday, calling such allegations ""absurd."" 
Turkish President Tayyip Erdogan has blamed Gulen for the 
violence, in which Erdogan said 237 people were killed 
excluding the plotters and more than 2,100 wounded, and said 
the United States should extradite him to Turkey. The U.S. 
government has not done so, and the dispute has raised 
questions about relations between the two allies. 
HOUSE OVERSIGHT 031476 
Turkey, a member of the NATO alliance, hosts American troops 
and warplanes at Incirlik Air Base, an important staging area for 
the U.S.-led fight against Islamic State in Iraq and Syria. 
At a news conference in Washington, Weingarten and Michael 
Miller, another Steptoe attorney, said evidence from a 2015 
case financed by the Turkish government against Gulen in U.S. 
federal court in Pennsylvania showed that the Turkish 
government relies on dubious proof to make its case against 
him. 
That case alleged Gulen issued coded orders to followers in the 
Turkish judiciary in a 2009 sermon to persecute members of 
another religious sect. It also alleged that the script of a popular 
Turkish television show was laced with follow-up messages. 
The case was dismissed by a judge in June. 
Turkish government officials, however, say such evidence is 
valid because Gulen operates covertly and sends encoded 
messages to his followers. 
Turkey has sent the United States new documents in recent 
days containing evidence that Turkish authorities say proves the 
cleric was behind the attempted coup. U.S. officials say they are 
looking through them. 
(Reporting by Julia Harte; Editing by Kevin Drawbaugh and 
James Dalgleish) 
From: Keough, Michael [mailto:  
Sent: Friday, August 05, 2016 1:10 PM 
To: Will Bohlen .IIIIIM; King, Kathryn< Miller, Michael 
IIMI>; Katelyn Wohlford >; Y. Alp Aslandogan 
..>; Weingarten, Reid .<>; Remzi Kulen <110=111M111>; 
Weinstein, Jason W>; Osman Oz. :>; David Mann 
< b>; Erin Billings < >; Drake, William < 
] 
< 
HOUSE OVERSIGHT 031477 
Cc: Eliopoulos, Steven <5_____ 
Subject: RE: Audio recording 
> 
FYI — our vendor is creating a transcript from the audio recording, so I'll send that around when it's ready. 
Michael A. Keough 
Associate 
Steptoe 
Steptoe & Johnson LLP 
1114 Avenue of the Americas I New York, NY 10036 
www.steptoe.com  
This message and any attached documents contain information from the law firm Steptoe & Johnson LLP that may be confidential and/or privileged. If 
you are not the intended recipient, please do not read, copy, distribute, or use this information. If you have received this transmission in error, please 
notify the sender immediately by reply e-mail and then delete this message. 
From: Will Bohlen [mailto: 
Sent: Friday, August 05, 2016 12:50 PM 
To: King, Kathryn; Miller, Michael; Katelyn Wohlford; Y. Alp Aslandogan; Weingarten, Reid; Remzi Kulen; Weinstein, 
Jason; Osman Oz.; David Mann; Erin Billings; Drake, William; Keough, Michael 
Cc: Eliopoulos, Steven 
Subject: RE: Audio recording 
Ah, yes. That makes sense. Thank you. 
From: King, Kathryn [mailto _______
 
Sent: Friday, August 05, 2016 12:48 PM 
To: Will Bohlen 
; Miller, Michael 
>; Katelyn Wohlford 
MIII.II>; Y. Alp Aslandogan <=0.; Weingarten, Reid 
<>; Remzi Kulen <>; Weinstein, Jason __________ 
Osman Oz. <.; David Mann >; Erin Billings 
<.; Drake, William 
Cc: Eliopoulos, Steven <1_______________________________> 
Subject: RE: Audio recording 
; Keough, Michael 
< 
Will, if you're concerned that people might want to slice it up, then we likely should not go with the FTP site 
(option A), because the link would not be protected and someone could find it. Posting on Steptoe's YouTube 
channel (option B) with secured settings would make the link only accessible to those who receive the link. It 
would also provide reporters with a faster way to view the video since they would not have to download 
it. Does that make sense? 
From: Will Bohlen [mailto___________________________________ 
Sent: Friday, August 05, 2016 12:36 PM 
To: King, Kathryn; Miller, Michael; Katelyn Wohlford; Y. Alp Aslandogan; Weingarten, Reid; Remzi Kulen; Weinstein, 
Jason; Osman Oz.; David Mann; Erin Billings; Drake, William; Keough, Michael 
Cc: Eliopoulos, Steven 
Subject: RE: Audio recording 
Thank you, Kathy. I think for now the FTP site is the right choice for getting it in the hands of reporters. We don't want it 
too accessible to people who might slice it up, and a youtube link would travel faster, I believe. We eventually want to 
trim the video into chunks and post on YouTube through AFSV's channels. 
HOUSE OVERSIGHT 031478 
From: King, Kathryn [mailto  
Sent: Friday, August 05, 2016 12:27 PM 
To: Miller, Michael <>; Katelyn Wohlford < :•; Y. Alp Aslandogan 
; Weingarten, Reid W; Remzi Kulen< 
Weinstein, Jason ; Osman Oz. W; David Mann 
; Erin Billings <11 Drake, William <_________________________________ 
Will Bohlen MNIMI=>; Keough, Michael <____________________________k 
Cc: Eliopoulos, Steven (I_> 
Subject: Audio recording 
All, 
I just received a copy of the audio recording with Q&A. The video recording will be available mid-to-late 
afternoon. As the file will be too large to distribute via email, we have two posting options: 
; 
a) Upload to Steptoe's FTP site, where the file is public but not (easily) discoverable to the casual Steptoe.com 
browser or searcher. We would send reporters the link, at which point they would download the recording in 
order to watch it. 
B) Upload the file to Steptoe's YouTube channel and set the security around the video so that it's only 
watchable by someone who has the link. It would not be discoverable by anyone who doesn't have the exact 
URL (searching or browsing). The advantage with this option is the reporters could watch the video via the 
YouTube player, rather than downloading a file. 
I believe our preference is the second choice? 
Thanks, 
Kathy 
Kathy King 
Director, Media & Public Relations 
ii 
Steptoe 
Steptoe & Johnson LLP 
1330 Connecticut Avenue, NW 
Washington, DC 20036 
www.steptoe.com  
irect I fax 
This message and any attached documents contain information from the law firm Steptoe & Johnson LLP that may be confidential and/or privileged. If 
you are not the intended recipient, please do not read, copy, distribute, or use this information. If you have received this transmission in error, please 
notify the sender immediately by reply e-mail and then delete this message. 
HOUSE OVERSIGHT 031479 
"
IMAGES-002-HOUSE_OVERSIGHT_014035.txt,"TIMOTHY FERRISS, nominated as one of Fast Company’s “Most Innovative Business People of 2007,” is
an angel investor and author of the #1 New York Times, Wall Street Journal, and BusinessWeek bestseller
The 4-Hour Workweek, which has been sold into 35 languages.

He has been featured by more than 100 media outlets, including the New York Times, The Economist,
TIME, Forbes, Fortune, CNN, and CBS. He speaks six languages, runs a multinational firm from
wireless locations worldwide, and has been a popular guest lecturer at Princeton University since 2003,
where he presents entrepreneurship as a tool for ideal lifestyle design and world change.

Copyright © 2007, 2009 by Tim Ferriss

All rights reserved.
Published in the United States by Crown Publishers, an imprint of the Crown Publishing Group, a division
of Random House, Inc., New York.

www.crownpublishing.com

CROWN and the Crown colophon are registered trademarks of Random House, Inc.
THE 4-HOUR WORKWEEK is a trademark of Timothy Ferriss and is used under license.

Originally published in slightly different form in the United States by Crown Publishers, an imprint of the
Crown Publishing Group, a division of Random House, Inc., New York, in 2007.

Grateful acknowledgment is made to David L. Weatherford for permission to reprint “Slow Dance” by
David L. Weatherford. Reprinted by permission of David L. Weatherford.

Library of Congress Cataloging-in-Publication Data
Ferriss, Timothy.
The 4-hour workweek: escape 9-5, live anywhere, and join the new rich /
Timothy Ferriss—Expanded and updated ed.
1. Quality of work life. 2. Part-time self-employment. 3. Self-realization.
4. Self-actualization (Psychology). 5. Quality of life. I. Title.
Il. Title: Four-hour workweek.
HD6955.F435 2009
650.1 —dc22 2009021010

eISBN: 978-0-307-59116-6

v3.0

HOUSE_OVERSIGHT_014035
"
IMAGES-005-HOUSE_OVERSIGHT_019717.txt,"The Russians Are Coming | 229

querade as members of the security services of Israel, South Africa,
Germany, France, and the United States to recruit unwitting agents.
These deceptions became an integral part of the recruitments of the
Russian intelligence services.

Penetrating the NSA and getting access to files from its stove-
piped computers was a far more difficult challenge for the SVR.
Approaching CIA officers, such as Nicholson, was relatively easy
because it was part of the CIA officers’ jobs to meet with their adver-
saries. NSA officers, on the other hand, did not engage in “dangles”
or even attend diplomatic receptions. They had no reason, other than
a sinister one, to meet with a member of the Russian intelligence
service. Furthermore, unlike CIA officers, who, like Nicholson, are
often posted in neutral countries where they can be approached in a
social context, NSA officers work at well-guarded regional bases and
are not part of the diplomatic life. Because a known employee of a
foreign diplomatic mission could not even approach an NSA officer
without arousing suspicion, the SVR would need to use an inter-
mediary, called an access agent, whose affiliations were not known

© to the FBI. Such an operation would require establishing a network ©
of illegals in America, as the SVR did after Putin became president.
Even then, the intermediary would have to find a plausible pretext
to approach the target without revealing his actual interest. Such
complex operations at the NSA, as far as is known, only yielded a
few low-level recruits.

The emergence of computer networks in the 1990s greatly
expanded the SVR’s recruiting horizon. It offered a new penetration
opportunity at the NSA: civilian technologists working under con-
tract for the U.S. government. Many of these civilians at the NSA,
especially the younger ones, as we know, had been drawn from the
hacking and game-playing culture; some had even taken courses on
hacking techniques. They presented the SVR with inviting targets
for recruitment. As was previously mentioned, Russian intelligence
had considerable experience in Germany with hacktivists, who
tended to be anarchists. There were also supporters of the libertar-
ian movement. The common denominator was often their resent-
ment, expressed in their postings, of the United States and its allies
attempting to limit the downloading of copyrighted music, movies,

| | Epst_9780451494566_2p_all_r1.indd 229 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019717
"
IMAGES-009-HOUSE_OVERSIGHT_028051.txt,"invasion had the effect of persuading Washington to send Philip Habib back
into the diplomatic fray. With no early sign, however, of Arafat agreeing to
leave, Arik now steadily tightened what amounted to a siege on west Beirut. For
seven weeks in July and August, our forces pounded the PLO-controlled
neighborhoods from land, air and sea; intermittently cut water and electricity
supplies; and hoped that the accumulated pressure, and casualties, would force
Arafat and his men to agree to Habib’s terms for a wholesale evacuation.

By this point, I was spending most of my time in the Airya, with periodic
visits north, sometimes with Arik or Raful, to our positions on the eastern,
Phalangist-controlled, side of Beirut. On several occasions, I helicoptered back
with Habib or his deputy, Morris Draper. In one instance, I accompanied Draper
into a meeting with Arik. In what I imagine had become a familiar, and
frustrating, part of the US mediation mission, he pressed Arik to rein in our
bombardments, arguing that we were in danger of ruining the chances of getting
a negotiated deal on Arafat’s leaving. Arik argued straight back. His view was
that unless the PLO felt squeezed into submission, they would stay put.

On that, I thought Ank was probably right. Other Israeli generals with far
more experience, and weight, also seemed to agree. Notably, Yitzhak Rabin. He
was no longer in government, nor even in charge of Labor. But he had always
had a soft spot for Arik, as did Sharon for him. With uneasiness, questions and
outright criticism of the siege building both internationally and inside Israel,
Arik got Rabin to helicopter north with him to Beirut. Yitzhak spent six or
seven hours there. His verdict on the siege, at least as reported in the Israeli
press, was more than Arik could have hoped for. Lehadek, he said. “Tighten it.”
In the end, I’m convinced the siege did have a critical effect on getting the
evacuation deal. But unleashing our single most relentless series of air attacks,
on August 12, when the deal was basically done, seemed both perverse and
excessive, and not just to me. Habib, and President Reagan himself, fumed. So
did a lot of Begin’s own ministers, with the result, unprecedented in Israeli
military annals, that they formally removed Arik’s authority to decide on future
air force missions. That turned out not to matter, however, because August 12
effectively marked the end of the siege.

On the afternoon of Saturday, August 21, the first shipload of an eventual
total of nearly 10,000 Palestinian fighters left Beirut harbor for Cyprus, and then
for a variety of new host countries. On this score at least, Arik’s grand design
had proven beyond him: the Palestinians were not bound for Jordan. By far
most of them headed for the PLO’s new political base, the north African state of

203
HOUSE_OVERSIGHT_028051
"
IMAGES-006-HOUSE_OVERSIGHT_021030.txt,"Drive Growth: Education

Better Education Improves General Labor Quality
and Enables Specialization For More Efficiency

KP
www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 377

Education = High Long-Term ROI* Investment

Each $1 of Government Spending Could Generate Up to $3 of Incremental Tax Return

USA Inc. Net Present Value (NPV) for an Individual** Obtaining Secondary / Higher Education, 2005

NPV = $100,119

wy 81M0,000 ROI=299%
£
& $120,000 -------------------------------------| 0 - - ----- = Unemployment Effect
2
o)
w § $100,000 ------------------------------------- Em ~~ > ~~ >
5 2
3%
23 $0000 ------- NPV =$32,257  -—=s—as—s“( sid 1 Social Insurance Tax
zs , L Revenues
£u ROI = 109%
ec.
© 2 $60,000 $<, (|)! ——
£2
ox = Income Tax Revenues
25 $4000 es = %-___
> 2
_
S52 $2000 (i |}
3 8 = Public Foregone Tax
a5 $0 Revenues
@
a
o
= $20,000 [i  --------- —_
= = Public Direct Cost
a
BADGE) m2 mex - me me ws en = in in eT me om ne a =
Secondary Education Higher Education
Note: * ROI (return on investment) caiculated as NPV of future incremental tax revenues divided by cost for
government to support an individual for education. **Limited to male samples, female samples tend to have a
KP lower public NPV. Source: OECD.
(@E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 378

HOUSE_OVERSIGHT_021030
"
IMAGES-009-HOUSE_OVERSIGHT_027362.txt,"GUID: 6CA680C8-22EB-4A3B-BODF-9916AA2B5C9C

Message: Go to sleep. ! Im in New York this afternoon till tues

Sender: e:jeeitunes@gmail.com

Time: 07/29/18 08:26:11 AM (554570771)
Flags: 1085445

Is Read: No

Is Invitation: No

r,

GUID: EEC72CA5-3CF5-4966-8D52-F5A944590A56

Message: ?

Sender: e:jeeitunes@gmail.com

Time: 07/29/18 03:36:15 PM (554596575)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: BEF72D3D-E621-4261-8D84-EA75A52377DC

Message: early breakfast??

Sender: e:jeeitunes@gmail.com

Time: 07/29/18 03:36:38 PM (554596598)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 0517C733-6AFO-4F77-AA77-26DB44B2ED8B

Message: ny mon or tues

Time: 07/29/18 03:42:10 PM (554596930)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 3F09AA15-1476-4FC2-A766-6FA67FD9E445

Message: De uniting the tribes in a war council

Sender: e:jeeitunes@gmail.com

Time: 07/29/18 03:43:23 PM (554597003)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: 6D9CBA29-B91B-4B95-921C-96BOECIEOAF1

Message: good tonto - Im in palm beach starting tues night.

europe f2f , no rush

Then gone

want to talk about

HOUSE_OVERSIGHT_027362
"
IMAGES-004-HOUSE_OVERSIGHT_018040.txt,"Case 1:19-cv-03377 Document 1-16 Filed 04/16/19 Page 2 of 6

sHiamiterald

An Epstein sex case is settled;
Dershowitz denies latest
allegation

BY JULIE K. BROWN
DECEMBER 19, 2018 8:30 PM, UPDATED DECEMBER 27, 2018 7:55 AM

Accused sex traffickers Jeffrey Epstein and Ghislaine Maxwell have settled a federal civil lawsuit
filed by a woman who says she was ordered under threat of violence to have sex with them and
other influential individuals when she was in her early 20s, sources confirmed Wednesday.

Sarah Ransome, who now lives in Barcelona, claimed that she was recruited and trafficked for
sex by the pair in 2006 and 2007 — at the same time that Epstein, a wealthy New York hedge
fund manager, was under federal investigation for molesting dozens of underage girls at his
Palm Beach mansion.

”s | 3)
Women who say they were victims of sexual abuse at the hands of Palm Beach multimillionaire Jeffrey Epstein
want a judge to throw out his lenient plea deal. AP

According to a recent court transcript, among those people Ransome claims she was directed to
have sex with was Epstein’s lawyer, Alan Dershowitz, who helped negotiate a controversial plea

https://www.miamiherald.com/latest-news/article223315075.html

HOUSE_OVERSIGHT_018040
"
IMAGES-004-HOUSE_OVERSIGHT_017373.txt,"4.2.12
WC: 191694

“to have a preliminary discussion which might eventuate in saving the children
from the kind of atmosphere that they have tragically been placed in as a result of
Woody Allen’s lawyers.

Q:
A:
Q:

A:

And not as a result of Miss Farrow’s lawyers.
Absolutely not.
In any respect?

If Mr. Allen had listened to Miss Farrow’s lawyers, we would not be in
court today and the children’s best interest would have been served.

I was then asked about my efforts to have Woody call me or respond to my letter:

Q:

Now lastly, Mr. Dershowitz, did you ever instruct—prior to August 13,

did you ever instruct Miss Farrow to tell Mr. Allen that he should talk to you
because this is a criminal act and I needed a criminal lawyer’...

A:

Was I trying to get hired by Woody Allen to be his criminal lawyer?
No...My recollection is that Miss Farrow called me and asked me if I
would speak to Woody Allen. I said I felt uncomfortable calling Woody
Allen.

I have to tell you I wish I had. I wish I had a chance to talk to him
directly. I wish I had had a chance to do something to stop this
steamroller that occurred, and I wanted very much to talk to him. I
thought he was getting terrible advice from his lawyers. I tried to write
him a letter. I don’t know if he ever read the letter.

I think that bad advice has contributed to this and now the lawyers are
trying to figure out a scapegoat for this and they are pointing a finger in the
wrong direction.

You think you are the scapegoat for this?

I think the reason you’ve had me on the witness stand for as long as you’ve
had me on the witness stand as a result of 15 or 20 minutes direct
testimony for a meeting that I played a facilitative role shows that there is
an agenda here a little bit different than the agenda that you’re presenting
in the court, yes, I do.

The court would not permit me to expand on the nature of this hidden agenda, but the damage to
Woody’s case had been done. My testimony, in sum, was very supportive of Mia’s efforts to

286

HOUSE_OVERSIGHT_017373
"
IMAGES-003-HOUSE_OVERSIGHT_015762.txt,"72 Are the Androids Dreaming Yet?

would be very hard for a human but easy for a computer. If you got a
very quick answer; the computer would have given itself away. But, the
computer has been programmed not to give itself away, and it is free to
give the answer slowly or even reply that the calculation is too hard. Our
computer can say anything it likes, including lying to pass the test! If the
computer can fool a questioner into believing it is a human then Turing
argued the computer has shown it is at least as intelligent as we are.

It used to be assumed that the field of broad general knowledge
would be hard for a computer, but Watson has shown this is not so. With
enough storage and a reasonable algorithm, winning a pub quiz is well
within the capability of a modern computer.

The really difficult questions for a computer are philosophical ones,
novel questions and things that don’t fall into a pattern. For example,

“Are you happy?”

“What do you think of Shakespeare’s Hamlet?”

“Ts there life after death?”

“How went it?”

“Think Differ...”

If a computer could plausibly answer this sort of questioning for an
extended period, say fifteen minutes, should we conclude it is intelligent,
or do we need more time to be certain?

Turing’s approach to certainty was simple. Just ask lots of questions.
As you ask more and more questions, you will become increasingly
certain you are talking to an intelligent being. He characterized it
as a linear process; after 15 minutes of questioning you might be
99% certain and after a few hours 99.9% certain and after a few days
completely certain. The problem with this approach is it does not flush
out discontinuities. What if the questioning suddenly stopped without
warning or explanation? A human responder is likely to worry that the
questioner has had a heart attack and do something to find out what is
going on including leaving the room. Humans can make creative leaps,
solve non-computable puzzles or come up with a clever new joke. A
humans could even announce the test is a waste of time and walk off.
They just exercised free will! A computer cannot do these things.

Each year a group of scientists enters a competition run by
Cambridge University to win the Loebner prize, a competition to see
how close a machine can come to passing the Turing Test. If you can beat
the test you win $100,000. So far no one has come close and scientists are
beginning to realize just how hard it is.

HOUSE_OVERSIGHT_015762
"
IMAGES-012-HOUSE_OVERSIGHT_033415.txt,"Indeed, much of the art that was critical of these movements was suppressed or censored and “subversive” artists cowed, in
some cases imprisoned or even worse.

The liberal democratic model departed sharply from these authoritarian perspectives by presenting the alternative of free and
transparent elections, the rule of law and freedom of speech. In the mid-war period the three narratives were competing to be the
conceptual frame for society. After the Second World War fascism was crushed leaving the two competing ideologies of
communism and liberal democracy. After the demise of communism in 1989, through to the late 1990’s, liberal democracy was
victorious in the idealogical battlefield. Some historians, like Francis Fukuyama, went so far as to proclaim this period as “the
end of history”.

A key piece of art that championed this kind of ideology was Sheppard Fairey’s campaign poster for Barack Obama. In this
poster, Fairey, a well established graffiti artist uses urban colours and stencilling techniques combined with the message
“HOPE” to promote the incoming presidents positive values and popularity with the young. It 1s notable that Fairey’s most
recent political poster protests the Trump presidency rather than promote it.

With the rise of so called “illiberal democracy”, with strong parties standing for populist ideologies, we have now moved into
what can be described as the age of bewilderment. We were not in fact at the “end of history”. Once again the future looks
unpredictable and insecure and artists are responding in different ways.

Jeremy Deller, a British Turmer prize winning artist created a work which features a car damaged in the bombing of the historic
Mutanabbi Street book market, which resulted in the deaths of 38 people. Here, an art work has been used to show the aftermath
of an event. This event was the result of the Iraq war, which was seen as a way to spread democracy. Here Art is used as a
means by which to explore the effects of ideology rather than promote it, another really interesting area in the study of the
intersections between ideology and art.

Exploring how art reflects the historical and ideological contexts of the world around tt is fascinating to me and I would love to
study these ideas in more depth at undergraduate level.

HOUSE_OVERSIGHT_033415
"
IMAGES-003-HOUSE_OVERSIGHT_015825.txt,"Knowledge 135

The 80 characters of this poem versus the 52 playing cards and the
greater choice offered by 26 letters increases the problem geometrically.
Taken together the probability of accidentally getting this poem is vastly
less than a perfect hand of bridge, 1 in 10® against the perfect bridge
hand of 1 in 10”. That’s the difference between the number of atoms
in the known universe and the number of atoms in a jug of water!
Numbers get big very quickly when we are looking at the permutation
of information. And there is another problem with our bridge analogy.
All the bridge players in the world are part of the machine finding the
perfect hand. When a human sees a perfect bridge hand they are amazed.
It is an event that usually hits the local newspapers and a couple of years
ago one reached the national papers in Britain. Each bridge player looks
at every hand, they play so there is a huge amount of processing going on
during every bridge game. To replicate this for our poem, we would need
millions of poetry classes spending hours each evening reading through
computer printouts of gibberish.

I should also add that sightings of perfect bridge hands are almost
certainly hoaxes. The probability of it happening even once would
require everyone on Earth to play bridge continuously for a thousand
years. It is reported somewhere in the world about two or three times a
year. If we are charitable, we might assume people failed to shuffle the
deck properly but I suspect some mischief is going on! The numbers
don't stack up...

You might think the problem is one of improving the efficiency of
the filter so humans would only have to examine a smaller number of
possibilities. Surely I could improve things by writing a simple program
to ban all non-English characters, words and poor grammar; things that
don't pass the Microsoft Word grammar checker. This would generate a
more manageable number of potential poems.

Lewis Carroll shows this does not work; my idea to use a grammar
and spelling checker to filter out gibberish just eliminated Jabberwocky,
one of the most famous verses in the English language. Take a look at
what Microsoft Word thinks of it.

HOUSE_OVERSIGHT_015825
"
TEXT-001-HOUSE_OVERSIGHT_025598.txt,"Date: Thursday, April 18 2019 12:23 PM 
Subject: Re: $25K from ASU 
From: Joichi Ito < 
To: Jeffrey Epstein <jeevacation@gmail.com>; 
Nice. 
> On Apr 18, 2019, at 08:03, J <jeevacation@gmail.com > wrote: 
> https://www.nytimes.com/2019/04/18/opinion/sunday/oliver- sacks-gardens.html?action=click 
&module=Opinion &pgtyp e=Homep age 
> On Mon, Mar 4, 2019 at 11:08 AM Joi Ito < > wrote: 
> I'm good. Good luck! 
> - Joi 
>> On Mar 4, 2019, at 7:45 AM, J <jeevacation@gmail.com > wrote: 
>> brutal press. . sorry . it seems im a symbol for all ills. :). if you hate the rich, the men , the trump types im 
your boy. at least for the moment. . hope you are well 
>> On Thu, Feb 28, 2019 at 1:24 PM Joi Ito <MI> wrote: 
» Thanks! 
>>> On Feb 28, 2019, at 1:18 PM, J <jeevacation@gmail.com > wrote: 
>>> 
>>> No problem- Trying to get more black for you 
>» 
>>> On Thu, Feb 28, 2019 at 1:10 PM Joi Ito < 
>>> Hey Jeffrey. 
>» 
>>> How are things? 
>» 
> wrote: 
>>> Just to let you know. We were able to keep the Leon Black money, but the $25K from your foundation is 
getting bounced by MIT back to ASU. 
>» 
>» Sorry... 
>» 
>» - Joi 
>» 
>>> 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, 
HOUSE OVERSIGHT 025598 
>>> 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 025599 
"
IMAGES-011-HOUSE_OVERSIGHT_031125.txt,"From: Faith Kates

Sent: 11/10/2016 11:49:04 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

She should be so lucky people are nuts
Sent from my iPhone

On Nov 10, 2016, at 4:55 PM, jeffrey E. <jeevacation@gmail.com> wrote:

http://www.dailymail.co.uk/news/article-3914012/Troubled-woman-history-drug-use-claimed-assaulted-

Donald-Trump-Jeffrey-Epstein-sex-party-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_031125
"
IMAGES-012-HOUSE_OVERSIGHT_032694.txt,"From: Thomas Jr., Landon

Sent: 1/3/2018 7:17:38 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
You be judge -- wasn't here a time when he at least completed sentences?

https://www.theatlantic.com/health/archive/2018/01/trump-cog-decline/548759/

On Wed, Jan 3, 2018 at 2:14 PM, jeffrey E. <jeevacation@gmail.com> wrote:
no. but no questions donalds statement is goofy. . early dementia?

On Wed, Jan 3, 2018 at 2:12 PM, Thomas Jr., Landon {i wrote:
No doubt he and DT know each other well too. Have to say, he is looking/sounding increasingly
unhinged -- are you tempted to take any money off the table in the markets?

On Wed, Jan 3, 2018 at 2:04 PM, jeffrey E. <jeevacation@gmail.com> wrote:
yup

On Wed, Jan 3, 2018 at 1:08 PM, Thomas Jr., Landon (iE wrote:
I know -- have been reading it. Good old MW. You still talk to him?

On Wed, Jan 3, 2018 at 1:05 PM, jeffrey E. <jeevacation@gmail.com> wrote:
http://nymag.com/daily/intelligencer/2018/01/michael-wolff-fire-and-fury-book-donald-trump.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

HOUSE_OVERSIGHT_032694
"
IMAGES-005-HOUSE_OVERSIGHT_019850.txt,"Four security guards escorted me there. By the time Marc and | met again at the end of the
three prong red carpet, ""La La Land"" publicist and West Coast campaign queen Lisa Taback
was furious I’d told the shaken producer his film might lose. | said, ""Kelly Bush said that, not
me."" But | felt terrible.

Sure enough, the “La La” landslide never happened. It did win a spectacular six Oscars before
Warren Beatty and Faye Dunaway walked to center stage for the best picture finale.

| was now standing against the wall at the first row of the first balcony. Lionsgate publicists
Julie Fontaine and Jennifer Peterson, both dressed in haute couture gowns and borrowed
emeralds, anxiously insisted | join their good luck group hug as best picture was announced.
Despite my faux pas, and my work on most of the year’s top films, including “Moonlight,”
“Manchester by the Sea” and “Hidden Figures,” Oscar night | was in the “La La” camp due to
my long friendship with it’s director Damien Chazelle.

So we three bejeweled broads were hugging tightly, wnen Faye broke Warren’s pregnant
pause and screamed ""La La Land"". The girls cried, the “La La” producers ran to the stage and
| was thinking about how to apologize to Marc Platt as he thanked his family. Then, the stage
filled up with men in headsets. Producer Jordan Horowitz, the class act of the evening,
grabbed the right card and calmly announced ""Moonlight. No Joke."" Platt, Horowitz and their
co-producer Fred Berger handed their Oscars to Moonlight director Barry Jenkins, and
producers Jeremy Kleiner and Adele Romanski and left the stage as Mahershala Ali, the first
Muslim actor to get the gold guy, joined the cast waving his historic Oscar.

Julie and Jennifer ran to Soho House to oversee Lionsgate's victory party, where hundreds of
confused well-wishers waited to celebrate the “La La” wins, including Emma Stone’s best
actress, Justin Hurwitz’s best score, and Benj Pasek, Justin Paul and Justin Hurwitz’s best
song for “City of Stars.” At 32, Damien Chazelle also made history as the youngest best
director ever. Some, lacking any empathy for the winners and losers onstage, called this
historic screw-up ""great live-television.” But standing in the balcony, alone and speechless, all |
could think was, “How did | miss this?”

| ran to the Governor's Ball, which is the next stop for winners on their busy night. They get
their statues engraved there before they drop by their studio’s party, get photographed, Oscar
in hand at Vanity Fair’s fete, wall-to-wall with celebrities, and then head to Guy Oseary's home
high in Beverly Hills to rock-and-roll ‘till dawn.

At the entrance to the Governor's Ball, Warren Beatty walked up to me, still holding the two
priceless envelopes as proof of his innocence. | asked him, ""What happened?""

His phone rang. It was so noisy, he bent toward me to hear better. The phone was almost in
my face and | heard Annette Benning asking where he was and saying, ""Warren, come home.""
Warren said, ""No. | have done nothing wrong.""

Warren's wonderful film, ""Rules Don't Apply"" received little Academy love, yet he was
generous enough to show up. Now, fifty years after “Bonnie and Clyde,” he was in the Oscar
spotlight again, the latest unwitting star of Oscar’s all-time blooper reel. As Jimmy Kimmel said,
“We don’t have to watch reality shows anymore because we are living in one.”

Here’s reality-show Oscar week as | lived it:

Tuesday, February 21st

HOUSE_OVERSIGHT_019850
"
TEXT-002-HOUSE_OVERSIGHT_033142.txt,"From: J [jeevacation@gmail.com] 
Sent: 2/9/2019 10:00:59 PM 
To: Pritzker, Tom 
Subject: Re: 
sasse was told im a witness against trump. ? others were told I m a witness against clinton. . so my 
credibilitiy needs destroying, . unlikely. :) 
On Sat, Feb 9, 2019 at 4:57 PM Pritzker, Tom ‹> wrote: 
You are news! 
I am quiet. 
Have called for a Chairman's dinner on Feb 26 to discuss trade. Have mix of biz und govt 
bigfoots. Will need to get someone to staff me. Her job will be push and organize. May 
position her in DC. As the Zen Master said 'let's see'. 
Off to Asia mid week. 
tjp 
150 N. Riverside Plaza, Suite 3200 
Chicago, IL 60606-1594 
Please note new address 
From: J <jeevacation@gmail.com> 
Sent: Saturday, February 9, 2019 2:48 PM 
To: Pritzker, Tom 
Subject: 
News? 
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 033142 
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 033143 
"
IMAGES-005-HOUSE_OVERSIGHT_020009.txt,"In fact, Ryan had tried to act like McCormick or O’Neill, offering absolute assurances
of his hold on the legislation. It was, he told the president during his several daily calls, a
“done deal.” Trump’s trust in Ryan rose still higher, and it seemed to become in his own
mind proof that he had achieved a kind of mastery over the Hill. If the president had been
worried, he was worried no more. Done deal. The White House, having had to sweat
hardly at all, was about to get a big victory, bragged Kushner, embracing the expected win
over his dislike of the bill.

The sudden concern that the outcome might be otherwise began in early March. Katie
Walsh, who Kushner now described as “demanding and petulant,” began to sound the
alarm. But her efforts to personally involve the president in vote collecting were blocked
by Kushner in a set of increasingly tense face-offs. The unraveling had begun.

7 OK Ok

Trump still dismissively called it “the Russian thing—a whole lot of nothing.” But on
March 20, FBI director James Comey appeared before the House Intelligence Committee
and tied the story up in a neat package:

I have been authorized by the Department of Justice to confirm that the FBI, as part
of our counterintelligence mission, is investigating the Russian government’s efforts
to interfere in the 2016 presidential election, and that includes investigating the
nature of any links between individuals associated with the Trump campaign and
the Russian government and whether there was any coordination between the
campaign and Russia’s efforts. As with any counter intelligence investigation, this
will also include an assessment of whether any crimes were committed. Because it
is an open, ongoing investigation and is classified I cannot say more about what we
are doing and whose conduct we are examining.

He had, however, said quite enough. Comey converted rumor, leaks, theory, innuendo,
and pundit hot air—and until this moment that was all there was, at best the hope of a
scandal—into a formal pursuit of the White House. Efforts to pooh-pooh the narrative—
the fake news label, the president’s germaphobe defense against the golden shower
accusations, the haughty dismissal of minor associates and hopeless hangers-on, the
plaintive, if real, insistence that no crime had even been alleged, and the president’s charge
that he was the victim of an Obama wiretap—had failed. Comey himself dismissed the
wiretap allegation. By the evening of Comey’s appearance, it was evident to everyone that
the Russia plot line, far from petering out, had a mighty and bloody life to come.

Kushner, ever mindful of his father’s collision with the Justice Department, was
especially agitated by Comey’s increasing focus on the White House. Doing something
about Comey became a Kushner theme. What can we do about him? was a constant
question. And it was one he kept raising with the president.

Yet this was also—as Bannon, without too much internal success, tried to explain—a

HOUSE_OVERSIGHT_020009
"
IMAGES-005-HOUSE_OVERSIGHT_018596.txt,"sexual partners are consenting adults, not whether their desires are innate. Alas, it's clear
that across the world, people who are instinctively grossed out by alternative sexuality
will always find ways to reframe the question into how our acts are just plain wrong and
our consent is irrelevant -- and that's as true of some feminists and cultural loyalists as it
is of Bible-thumpers.

KK ok

This can be found on the Internet at:

http://carnalnation.com/content/5 1544/1 133/colonized-libidos

VEGAN:

[theory] Confections of a Pickup Artist Chaser

I've been vegetarian since 2009 and vegan since 2011; I wrote this in 2012.

TK OK ok

Confections of a Pickup Artist Chaser
There are delicious recipes at the end! Read this article for the recipes!

I feel hyper-aware that this piece may alienate some readers, because it's a post about
being vegan, i.e. not eating animal products. Lot of folks are touchy about that. So, I want
to do some pre-emptive damage control: I want to clarify up front that I have no interest
in calling anyone an asshole. If you're not vegan, then I want to try and change your
mind... but I don't think you're an Incontrovertibly Bad Person, and I hope we can still be
friends.

And, look, I'm not gonna pretend I'm perfect. I screw up all the time, on all kinds of
social justice issues, and I'll be learning for the rest of my life.

For me, the hardest thing about being vegan has nothing to do with the food, although I
think many foods made from animal products are delicious, and occasionally I have
trouble resisting them. For me, the hard part is all about social situations. If I'm at a social
event where non-vegan food is served and there are no other vegans, sometimes I just eat
it -- especially if it will Become A Big Social Problem if I don't eat it. I also sometimes
eat non-vegan food that's been rescued from the trash (some of us call this ""freegan"").
And occasionally, when I'm spending a lot of time with someone who's non-vegan, then
I'll sometimes break veganism in front of them in order to reassure them that I'm not
judging them. I have vegan friends who consider this an unacceptable level of
accommodation; sorry folks.

I am aware that stigmatizing, judging, and attacking non-vegans is one tactic for
convincing them to go vegan. Personally, I find it stressful and frequently

HOUSE_OVERSIGHT_018596
"
IMAGES-005-HOUSE_OVERSIGHT_019688.txt,"200 | HOW AMERICA LOST ITS SECRETS

Central Intelligence Agency, the Treasury Department, the Atomic
Energy Commission, and the FBI. With a multibillion-dollar “black
budget” hidden from public scrutiny, the NSA’s technology director-
ate invested in state-of-the-art equipment, including supercomputers
that could break almost any cipher, antennas mounted on geosyn-
chronous satellites that vacuumed in billions of foreign telephone
calls, and other exotic capabilities. It also devised stealthy means of
breaking into channels that its adversaries believed were secure. This
enterprise required not only an army of technical specialists capable
of remotely intercepting even the faintest traces of electromagnetic
signals, hacking into computers, and eavesdropping on distant con-
versations but also special units called “tailored access operations,”
to plant listening devices in embassies and diplomatic pouches. The
NSA also organized elaborate expeditions to give access to or even
penetrate physical cables in enemy territory. In 1971, for example,
the NSA sent a specially equipped submarine into Russia’s Sea of
Okhotsk in Asia to tap through Arctic ice. The target was a Russian
cable four hundred feet below the surface that connected the Rus-
© sian naval headquarters in Vladivostok with a missile testing range. ©

In 1980, President Ronald Reagan gave the NSA a clear mandate
to expand its interception of foreign communications. In Executive
Order 12333, he told the NSA that “all means, consistent with appli-
cable Federal law and this [Executive] order, and with full consider-
ation of the rights of United States persons, shall be used to obtain
reliable intelligence information to protect the United States and its
interests.” It did not restrict any foreign country, either an adversary
or an ally, from its surveillance.

The NSA’s target soon became nothing short of the entire elec-
tromagnetic spectrum. “We are approaching a time when we will
be able to survey almost any point on the earth’s surface with some
sensor,” Admiral Stansfield Turner, the former director of central
intelligence, wrote in 1985. “We should soon be able to keep track
of most of the activities on the surface of the earth.” Bobby Ray
Inman, a former director of the NSA and deputy director of the CIA,
argued that the “vastness of the [American] intelligence ‘take’ from
the Soviet Union, and the pattern of continuity going back years,

| | Epst_9780451494566_2p_all_r1.indd 200 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019688
"
IMAGES-010-HOUSE_OVERSIGHT_029323.txt,"Thursday, September 12, 2013
Page 9

dramatic exposure of his life of perversion is to attempt to hide behind the erroneous
interpretation of the litigation privilege. That effort has been rejected repeatedly by
the trial court, and there is no reason to anticipate any change in that well-reasoned
rejection. In addition, as will be privately explained at mediation, Epstein’s day of
public reckoning is inevitable.

Bradley Edwards, Esquire

Jack A. Goldberger, Esquire
Fred Haddad, Esquire

Marc S. Nurik, Esquire

Tonja Haddad Coleman, Esquire

HOUSE_OVERSIGHT_029323
"
IMAGES-010-HOUSE_OVERSIGHT_029445.txt,"TAX BULLETIN 2018-1: TAX REFORM SIGNED INTO LAW

allowed funds to be used for home schooling was dropped at the last minute and is not in the final
legislation.

e Charitable gifts. A charitable contribution deduction is limited to a certain percentage of the
individual’s adjusted gross income (AGI), and this limitation varies depending on the type of property
contributed and the type of exempt organization receiving the property. Under 2017 law, cash
contributed to public charities, private operating foundations, and certain non-operating private
foundations generally could be deducted up to 50% of the donor’s AGI. Under the Act, this 50%
limitation is increased to 60%. The provision retains the 5-year carryover period to the extent that the
contribution amount exceeds 60% of the donor’s AGI.

e Investment expenses and investment interest. Under 2017 law, investment expenses were
deductible as a “miscellaneous itemized deduction” if, and to the extent, they exceed 2% of AGI. The
Act repeals the deduction for “miscellaneous itemized deductions” that are subject to the 2% AGI
limitation, such as investment management expenses. Under 2017 law and current law, investment
interest is not a “miscellaneous itemized deduction.” Therefore, the deduction for investment interest
remains untouched and continues to be deductible to the extent of investment income.

CONCLUSION
Given the significant tax changes in 2018, planning will be a challenge. It is important to understand the

implications that the Act can have on your particular tax situation.

National Wealth Planning Strategies

1 Tax Bulletin 2017-5 summarized the key tax provisions in HR1, known as the Tax Cuts and Jobs Act (the “House Bill”), which
was passed (227-205) by the House on November 16, 2017. Tax Bulletin 2017-6 summarized the key tax provisions in the
initial Senate bill HR1, also known as the Tax Cuts and Jobs Act, which was subsequently amended and passed (51-49) by the
full Senate on December 2, 2017. The final Senate version was similarly summarized in Tax Bulletin 2017-7. Tax Bulletin 2017-
8 summarized the reconciled bill agreed to by both chambers. Tax Bulletin 2017-9 summarized the final legislation, including
some year-end planning ideas that are no longer relevant.

2 Inflation-adjusted amounts for 2017.

3 The name “Tax Cut and Jobs Act” had to be removed; this legislation was signed into law by President Trump on December
22, 2017.

“This proposed change would be effective starting in 2018 and would not apply to taxable years beginning after December
31, 2025 (e.g. sunsets at the beginning of 2026).

5 There are nine states that impose no state income tax: AK, FL, NH, NV, SD, TN, TX, WA and WY (NH and TN impose a tax only
on dividends and interest).

© This illustration assumes the following itemized expenses: charitable gifts $10,000, real estate tax $30,000 (limited to
$10,000 under the proposal), mortgage interest of $15,000, and appropriate state income taxes, where applicable.

IMPORTANT: This publication is designed to provide general information about ideas and strategies. It is for discussion
purposes only since the availability and effectiveness of any strategy are dependent upon your individual facts and
circumstances. Clients should always consult with their independent attorney, tax advisor, investment manager, and
insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning
strategy.

Neither U.S. Trust nor any of its affiliates or advisors provide legal, tax or accounting advice. Clients should consult with their
legal and/or tax advisors before making any financial decisions.

U.S. Trust operates through Bank of America, N.A., and other subsidiaries of Bank of America Corporation.
Bank of America, N.A., Member FDIC.
© 2018 Bank of America Corporation. All rights reserved. | NWPSTaxAct | January 2018

HOUSE_OVERSIGHT_029445
"
IMAGES-010-HOUSE_OVERSIGHT_028983.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
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_028983
"
IMAGES-001-HOUSE_OVERSIGHT_010612.txt,"Closed at 902 (10 Mar 2016): Buy AUD/KRW, entry: 832, target: 920, stop: 859 (revised

from 790)
Closed at 38.25 (18 Apr 2016): Sell TRY/JPY, entry: 43.40, target: 36.15, stop: 45.25

Closed at 8.27: Sell USD/NOK spot 8.685, target: 8.27, stop-loss: 8.60 (revised from 9.00}

New trades

Rates:

Mar17 FRA-OIS widener, entry: 6.25bp, target: 10bp, stop loss: 4bp (21 Sep 2016}

* Despite recent tightening, richness of bonds vs OIS, upcoming TLTRO & corporate
issuance point to renewed widening

Existing open trades
For a complete list of our open trade recommendations, as well as our trade
recommendations closed over the last 12 months, please see: Global Rates and FX

Weekly: Central banks still the only game in town 15 September 2016

Rates:
Pay 5y5y forward 3s6s basis, entry: 11.3bp, target: 13.3bp, stop: 10.3bp (10 Aug 2016)
* Bank hedging flows on the back of sharp pickup in corp issuance suggests the

widening of 3s6s basis is structural. It also hedges any aggressive ECB easing in Sep

Buy 6m30y ATMF+25bp/+50bp/+75 bp payer ladders for a net premium of €950k on
€100m notional (or 3.3 bp) (20 Jul 2016)
*30y rates are at risk from the ECB tomorrow, especially if tweaks to the capital key are

flagged already

Buy 3-year 3.5% ZC RPI inflation caps, entry: 26.0c; current 37.5c (21 Oct 2015)
*Sterling vulnerability due to the UK's large current account deficit makes being long

inflation volatility attractive. Pairing this trade with a long-standing recommendation to
be short 30-year UK breakevens is an attractive way to finance it.

Closed at O (22 Jul 2016): Buy 167 Aug RXU6 call and buy 162 put, cost 118 cents (16
Jun 2016)

Closed at 55bp (12 Jul 2016): OATei 2018/2027 flattener; entry: 78.5bp, target: 40bp;
stop-loss: 100bp (11 Mar 2016)

LG
Short EURUSD 6m 1.0740/1.1500 risk reversal, cost: O (off 1.1077 spot)(6 Jul 2016)
*EUR downside risks are underpriced. We think the post-referendum risk rally is

overdone and could be at risk. Potential shocks include Brexit uncertainty, turbulence in
Italy's banking sector, and political paralysis in Spain.

Closed 1.0840 (1 Jul 2016): Buy 3m EURCHF 1.08/1.03 put spread for 0.76% Eur
(7.75/8.05 ag 10.45 vols off 1.0930 spot)(1 Apr 2016}

sae liye Bankof America
4 Liquid Insight | 22 September 2016 Merrill Lynch

HOUSE_OVERSIGHT_010612
"
IMAGES-010-HOUSE_OVERSIGHT_030114.txt,"On Sep 20, 2014 9:44 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
Number?

On Saturday, September 20, 2014, jeffrey E. <jeevacation@gmail.com> wrote:
Wow

On Saturday, September 20, 2014, Kathy Ruemm|ecr iS > vrote:
http://en.m.wikisource.org/wiki/Floor_Statement_of Senator Barack Obama _on the Nomina

tion_of Alberto Gonzales for Attorney General

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
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_030114
"
IMAGES-007-HOUSE_OVERSIGHT_023497.txt,"11

facilitated,” they said, “by a clear statement of our ultimate goal.
Indeed, this is the only way to build the kind of international trust
and broad cooperation that will be required to effectively address
today’s threats. Without the vision of moving toward zero, we will
not find the essential cooperation required to stop our downward
spiral.”

The “downward spiral” has little to do with the nuclear strategic
relationship between the United States and Russia, although the
authors have, in both statements, called for ratification of the New
START Treaty. In fact, that relationship has declined in importance
to the point where it makes little difference whether the Russians
have more nuclear weapons or fewer than they have now. The
calculations of the consequences of a nuclear exchange between the
United States and Russia, a proper obsession during the Cold War,
are no longer relevant and, despite President Obama’s overblown
claims, the New START Treaty is of no substantial benefit.

What the “downward spiral” refers to is the world’s descent into the
dangerous disorder of a fast-growing number of nuclear-armed states—
North Korea already, with Iran and others to follow. It is the bloody
prospect of nuclear weapons in the hands of irresponsible regimes, or
even terrorists, that has galvanized Shultz, Kissinger, Perry, and
Nunn, and which urges the development of a post-Cold War nuclear
weapons strategy.

In other words, the utopian vision of a world without nuclear
weapons Is driven principally by the fear of nuclear proliferation. The
fear of many more nuclear weapon states is the key matter of concern
for serious people, not cutting or fine-balancing—Cold War style—
the US and Russian nuclear arsenals. The case for global zero hinges
on whether embracing that goal contributes to halting the
proliferation of nuclear weapons.

I worry that the commitment to global zero, and the actions of

HOUSE_OVERSIGHT_023497
"
IMAGES-006-HOUSE_OVERSIGHT_021811.txt,"From: es

Sent: Friday, January 9, 2015 7:01 PM
To: jeffrey E.

Subject: Re: we'll see

Importance: High

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

From: jeffrey E. <jeevacation@gmail.com>
To: Nadia <nadja2102@yahoo.com>
Sent: Friday, January 9, 2015 1:59 PM
Subject: Re: we'll see

It was a first draft

On Friday, January 9, 201 5, i 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.

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

Sent: Friday, January 9, 2015 1:44 PM

Subject: Re: we'll see

| only met Jeffrey Epstein, after | was adult. ( over 18). | was never, ever, his ""sex slave ""

. obviously a lurid chauvenistic categorization. which in my opinion could only have been

made by some loser of a repressed male reporter. He was always kind , funny and generous to
me . These fantasy fabrications made by a delusional thief. ( charged with stealing from the burger
place and which she worked, though she claimed to paid thousands of dollars in cash and held at
the beck and call of the genious tycoon. ) . Her story telling had it been done while sleeping would
have been called dreaming, if awake, hallucinaitons but to the English press they are referred to as
allegations . She claimed in the minutest of detail , her dinner with President Clinton on the
Caribean Island, How he arrived . ( by black heli). where he sat. ,(on jeffreys left.) a21st century
tale of power , sex, money. The fact is that this story is total make believe , fabricated on purpose
to gain tabloid attention ,and easily refuted by readily availalble travel records of a former

president. . it defies belief that any person would take seriously such a preposterous story. little
different than her telling her father that she met the queen, whoops- he believed her though her
mother at the relevant time complained that she must have been engaging in satan worship and
asked that she be put her in a drug home. cmon. | am currenty a professional pilot with a spotless
record. | have a checklist that | follow before every flight to verify that things are what they are
supposed to be , checking her story which the presss has refused to do would serve the public well.
In this case human error is merely a euphmisn for hijacking the truth ,

HOUSE_OVERSIGHT_021811
"
IMAGES-001-HOUSE_OVERSIGHT_012005.txt,"montage |

Mat ST LAURENT #48, MONTRILG, GH TEL, 516 De el 1k 3) e ee ede
]

ust
Yeemont Service Cente:
95 Lower Walden Sirees |

Wulieatia: Laciva Saupe Onivee ‘The Bay Stores...and oo on. Ac uel, I
am qualified to comment on Sir. Jenn Lac Brunel's career as en art
director of extraordinar: ability

its Rot only because of his acclamations or his tmpressive body df work
vag teshion perenne Id HaMeliny seeceies Groee We we

Mr. Brumaf's reputation as a forinklatle artiet with a personable ""
prncedes iia. He is constantly researching and stimujatingly
new conaepts for his cliente and § have come to rely on and trim and
his ability, Over the course of his celebrated career. Jenn Luc Brunel bes
bimeetf os onr of the leading fashion art directors in the

professionals working in the world today. 1 Sook forward to sselag mare of
hie work tn the future. |

|
Yours, |

Mirae

— reise

Nadia Canova
meutge

7

HOUSE_OVERSIGHT_012005
"
IMAGES-009-HOUSE_OVERSIGHT_026685.txt,"HOUSE_OVERSIGHT_026685
"
IMAGES-007-HOUSE_OVERSIGHT_022951.txt,"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.

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_022951
"
IMAGES-011-HOUSE_OVERSIGHT_031643.txt,"Now remember

Press is so revolted by trump that I'd expect they will not be for benefit of doubt.

Sent from my iPhone

Please direct all scheduling inquiries to my office at

Follow me on twitter @lhsummers
www.larrysummers.com

On Oct 9, 2016, at 8:30 PM, jeffrey E. <jeevacation@gmail.com> wrote:

no, im out of it. donald brought out four women that said bill abused them. / they wilil feature in the
hillary says you should give the benefit of the doubt to victims. I laid this out for you over dinner. its
disgraceful, but. here we are

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_031643
"
IMAGES-007-HOUSE_OVERSIGHT_022789.txt,"Non-Responsive - Redacted

HOUSE_OVERSIGHT_022789
"
IMAGES-007-HOUSE_OVERSIGHT_023483.txt,"26

Article 4.

NYT

The Budget Debate, Revealed

Richard W. Stevenson

April 16, 2011 — The air in the capital these days is thick with
references to trillion-dollar deficits, debt-to-G.D.P. ratios and
mandatory spending. But the budget debate that became fully
engaged last week is about far more than accounting and arcane
policy disputes. What is under way now is the most fundamental
reassessment of the size and role of government — of the balance
between personal responsibility and private markets on the one hand
and public responsibility and social welfare on the other — at least
since Ronald Reagan and perhaps since F.D.R.

The battle ahead “is the big one, and goes to the very major questions
about the role of government,” said G. William Hoagland, a former
Republican staff director of the Senate Budget Committee. “This is
going to be a very fundamental clash of ideologies.”

The Democratic and Republican Parties have their own internal
tensions to address as the debate goes forward in Congress and on the
presidential campaign trail. But in its early stages at least, it is liberals
who are on the defensive.

The aging of the baby boom generation and the costs of maintaining
Medicare and Social Security have put the two pillars of the social
welfare system on the table for re-examination. The growing weight
of the national debt has given urgency to the question of whether the
government has become too big and expensive.

The tepid nature of the current economic recovery, following big
stimulus packages, has provided an opening to challenge the
effectiveness of Keynesianism as the default policy option for
government. And the revived energy of grass-roots conservatives has

HOUSE_OVERSIGHT_023483
"
IMAGES-006-HOUSE_OVERSIGHT_021805.txt,"De ee ee ee ee ee ee ee i 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.

HOUSE_OVERSIGHT_021805
"
IMAGES-007-HOUSE_OVERSIGHT_022945.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 11/7/2017 2:55:20 PM
To: Thomas Jr., Landon iii
Subject: Re:

Importance: — High
As they are both bulkshitters
On Tue, Nov 7, 2017 at 10:26 AM Thomas Jr., Landon {i> wrote:
iam more interested in al-waleed/saudi purge/Jared axis. al-waleed and prez go back a ways don't

they?

On Tue, Nov 7, 2017 at 5:42 AM, jeffrey E. <jeevacation@gmail.com> wrote:

http://people.com/movies/harvey-weinstein-hired-intelligence-agencies-to-spy-on-accusers-rose-

mcgowan/ the same boies that represents |. who makes totally fabricated claims re gore and
clinton - boies clients. he refuses to ask them their version of events. They were never on the island and
though she gave details of a dinnner. I have never ever met al gore or his wife.

boies is going to be in the firiing line. from the biz view he represented Hank Greenburg AIG, , his fees
were never paid as the appeals court overturned the win. but AIG as an insurance co. --_ ... phone only

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/index.

HOUSE_OVERSIGHT_022945
"
IMAGES-009-HOUSE_OVERSIGHT_026691.txt,"11

Uncertain market direction has challenged
response to return gaps through asset allocation
Political change across developed markets challenges
high conviction geographic allocations outside a small
number of perceived ‘safe haven’ markets. Similarly,
the staggered shift to QT is creating uncertainty over
sovereign forecasts for asset class performance.
Additionally, in many cases allocations to illiquid
assets were approaching restrictions put in place by
investment boards, with little room to further tilt to
risk classes.

Such uncertainty over investment strategy means
that very few sovereigns are willing to adjust strategic
asset allocations, and internal restrictions are a
challenge to those that are seeking to change. This can
be seen in figure 6, in which an increasing number of
sovereigns state they have ‘frozen’ asset allocations
to traditional asset classes.

A focus on business model to drive implementation
efficiency and liquidity premium capture
As willingness to take active positions in geographic
and asset allocation decreases, the effects of the
return gap are compounded. Sovereigns are unable to
respond to growing shortfalls through asset allocation
alone, and are instead looking at how to evolve their
business models to drive more efficient realisation
against portfolio objectives, notably through
internalisation or investment partnerships to reduce
management cost and improve placement efficiency.
However, sovereigns acknowledged that any
changes to business models carried trade-offs against
execution and investment risk:
- Many respondents have struggled to reach target
alternative allocations and the shift to internalise
or move to co-investment or operating partnerships
may create further constraints
- Over-investing in privately listed assets puts
sovereigns at risk of future valuation adjustments
while utilisation of alternative deployment models
(working directly with operating partners) has
implications for governance processes and disclosure
- Reducing intermediation while potentially improving
line-of-sight to placement also reduces external
objective inputs to asset selection and valuation
- Finally, the tilt to internalisation may not be
consistent with geographic diversification objectives,
and there is some evidence of an increasing ‘home
market’ bias despite stated objectives to the contrary
While the motivation for business model changes
is clear and aligned, there is an acknowledgement
amongst participants that not all sovereigns will be
successful in executing, with the potential for risk or
investment shocks where execution is unsuccessful.
As willingness to take active positions in geographic
and asset allocations slows, sovereigns must engage
with investment boards to include consideration of
market conditions (as well as potential outflows) in
their return targets to continue to work towards their
long-term objectives.

HOUSE_OVERSIGHT_026691
"
IMAGES-004-HOUSE_OVERSIGHT_016858.txt,"I first met Frank Wilczek in the 1980s, when he invited me to his home in Princeton to
talk about anyons. “The address is 112 Mercer Street,” he wrote. “Look for the house
with no driveway.” So there I was, a few hours later, in Einstein’s old living room,
talking to a future recipient of the Nobel Prize in physics. If Frank was as impressed as I
was by the surroundings, you’d never guess it. His only comment concerned the difficulty
of finding a parking place in front of a “house with no driveway.”

Unlike most theoretical physicists, Frank has long had a keen interest in Al, as
witnessed in these three “Observations”’:

1. “Francis Crick called it ‘the Astonishing Hypothesis’: that consciousness, also
known as Mind, is an emergent property of matter,” which, if true, indicates that “all
intelligence is machine intelligence. What distinguishes natural from artificial
intelligence is not what it is, but only how it is made.”

2. “Artificial intelligence is not the product of an alien invasion. It is an artifact
of a particular human culture and reflects the values of that culture.”

3. “David Hume's striking statement ‘Reason Is, and Ought only to Be, the Slave
of the Passions’ was written in 1738 [and] was, of course, meant to apply to human
reason and human passions. ... But Hume’s logical/philosophical point remains valid
for Al. Simply put: Incentives, not abstract logic, drive behavior.”

He notes that “the big story of the 20th and the 21st century is that [as]
computing develops, we learn how to calculate the consequences of the [fundamental]
laws better and better. There’s also a feedback cycle: When you understand matter
better, you can design better computers, which will enable you to calculate better. It’s
kind of an ascending helix.”

Here he argues that human intelligence, for now, holds the advantage—yet our
future, unbounded by our solar system and doubtless also by our galaxy, will never be
realized without the help of our AIs.

55

HOUSE_OVERSIGHT_016858
"
IMAGES-001-HOUSE_OVERSIGHT_012011.txt,"MODELY 40th"" Oea

Aly & Zita

Oeporirent of Hommand Security

United Shotes CRizarship onc invnignation Servines

¥ernort Service Center |
20 Houghton Stree""

Saint Albans Vi 05478

Re: O-T Edfroorcinary Abily o9 an Ait Dvecior and Tatant Ccofanator on
behett of Jean-Luc Cicer Har-Rene Brunel

To Whon tt May Concern:

AS a President of Natale Model Management. tha letier # svomitted In
suppart of MC2 Model Morv. LC or benoit of AW. Jem Lic Bnew tc
west at on Art Director and Tarent Coordinator.

My. Sune hokh of intemochonol neputation @ a vitbig. srategic
nelworket whos & able fo cullvate expert reictionsrip management skits in
order fo Congct buriness ino globo! envtonmen! ond oroker lucrative
decks, Mr Grune! hos o long for in marketing and odverting majo

feshlon carnpaigns. Thrcughawi hh heenhelive yeor career In fhe fashion
Duiineis, Mw. Brunel has devcioped woddwide. exciiive modeling and
cosmetic compoigns. Some of thee major cosmetic campoiges Include:
fia Therm wiih supermodel Ele McPhernon, PHAS with Rebecco Romgn
Ctirfan Dlor with Chifinn Semonnovskaya, Margret Astor with Monica
Galveet, Chanat wilh Patricia Von Riezenheim, Angel Pelume with They
Auger, and Caochoral Perkene wih Aldo Gollesic. Mr. Brune! hes oisa
aoe. majo foahion compaigns and has daveloped campaigns and

AN aE te oe ee ee et ee
Yvet Soint towent. Chonel Chiisiion Dier, Guect Prada. [and Marc

A “kgenidirn MATAL I Gartrusire ole 57/2. Saga (V-1011 -rteind
Wale: 2 091 9) 2184 tree 9 APS FO) 000. o parts Hetelegtapote by, aww nalplencuals cunt

Rag fir (WS000) 22e24!, A> PARES BANKA, cocks PARLY2) ont: iv d6 FARR ib 2000 410° 9

HOUSE_OVERSIGHT_012011
"
TEXT-001-HOUSE_OVERSIGHT_014037.txt,"﻿Journal of Criminal Law and Criminology
Volume 104 | Issue 1 Article 2
Winter 2014
Crime Victims' Rights During Criminal
Investigations? Applying the Crime Victims' Rights
Act Before Criminal Charges Are Filed
Paul G. Cassell
Nathanael J. Mitchell
Bradley J. Edwards
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Paul G. Cassell, Nathanael J. Mitchell, and Bradley J. Edwards, Crime Victims' Rights During Criminal Investigations? Applying the Crime
Victims' Rights Act Before Criminal Charges Are Filed, 104 J. Crim. L. & Criminology 59 ().
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0091-4169/14/10401-0059
THE JOURNAL OF CRIMINAL LAW & CRIMINOLOGY Vol. 104, No. 1
Copyright © 2014 by Northwestern University School of Law
Printed in U.S.A.
CRIME VICTIMS’ RIGHTS DURING
CRIMINAL INVESTIGATIONS?
APPLYING THE CRIME VICTIMS’ RIGHTS
ACT BEFORE CRIMINAL CHARGES ARE
FILED
PAUL G. CASSELL*
NATHANAEL J. MITCHELL**&
BRADLEY J. EDWARDS***
This Article addresses whether crime victims should have rights during
criminal investigations, using the Crime Victims’ Rights Act (CVRA) as the
focal point for our discussion. This is a critical issue, as many criminal
cases may never proceed to formal charging. If crime victims have no
rights during criminal investigations, then many crime victims will never
have any rights at all.
The issue of whether crime victims have rights in the criminal justice
process recently came to a head when the Justice Department released a
memorandum contending that the CVRA does not extend crime victims any
rights until prosecutors choose to file formal criminal charges. This led the
CVRA’s Senate cosponsor, then-Senator Jon Kyl, to fire off an angry letter
to the Justice Department attacking its position. In our Article, we side
with the Act’s cosponsor. We believe that, properly understood, the CVRA
does extend crime victims’ rights during criminal investigations.
Our Article proceeds in four parts. First, it highlights the importance
of applying the Act before the formal filing of charges by illustrating how
dozens of victims in a notorious federal sex abuse case were deprived of the
* Ronald N. Boyce Presidential Professor of Criminal Law, S.J. Quinney College of Law
at the University of Utah.
** Associate, Snow, Christensen & Martineau (Salt Lake City, Utah).
*** Partner, Farmer, Jaffe, Weissing, Edwards, Fistos & Lehrman (Fort Lauderdale,
Fla.). The authors thank Douglas Beloof, Patricia Cassell, Meg Garvin, Jay Howell, James
Marsh, and Stephen Twist for their assistance with this Article.
59
60 CASSELL ET AL. [Vol. 104
ability to participate meaningfully in the criminal process when federal
prosecutors narrowly interpreted their responsibilities under the Act.
Second, the Article reviews the purpose, text, structure, and history of the
CVRA, concluding that they all support the conclusion that crime victims
have rights during criminal investigations. Third, our Article critiques the
Department’s memorandum, demonstrating that the Department’s analysis
is unpersuasive. Fourth and finally, the Article provides a specific
approach for determining when rights should attach—specifically when
federal law enforcement agencies have identified a crime with sufficient
precision to send a “target” letter to a criminal defendant. We also
observe that federal and state prosecutors have already accorded rights to
victims before formally filing charges, which further undermines the
Department’s overly narrow construction of the Act.
TABLE OF CONTENTS
INTRODUCTION ............................................................................................ 61
I. THE ISSUE OF RIGHTS FOR CRIME VICTIMS DURING CRIMINAL
INVESTIGATIONS .............................................................................. 63
A. A Brief History of Crime Victims’ Rights .................................. 63
B. The Crime Victims’ Rights Act ................................................... 65
C. An Illustration of the Pre-charging Issue: The Jeffrey Epstein
Case ........................................................................................... 67
II. THE CVRA’S APPLICATION BEFORE FORMAL CHARGES ARE FILED ..... 69
A. The CVRA’s Purposes ................................................................ 70
B. The CVRA’s Plain Language ...................................................... 71
C. Courts Recognize That Crime Victims Have CVRA Rights
Before Charging ........................................................................ 73
III. THE JUSTICE DEPARTMENT’S UNPERSUASIVE POSITION ...................... 75
A. OLC’s Misreading of the CVRA’s Definition of “Victim” ........ 76
B. OLC’s Distortion of the CVRA’s Structure and Legislative
History ...................................................................................... 80
C. OLC’s Ineffective Response to the CVRA’s Coverage and
Venue Provisions ...................................................................... 86
IV. WHEN PRE-CHARGING RIGHTS ATTACH UNDER THE CVRA ............... 90
A. A Test for Determining When Rights Attach .............................. 91
B. Applying the Test to the Epstein Case ......................................... 93
C. Current Department Policy on Pre-charging Rights .................... 94
D. State Law Extension of Pre-charging Rights .............................. 97
CONCLUSION ............................................................................................. 103
2014] CRIME VICTIMS’ RIGHTS 61
INTRODUCTION
In recent years, federal and state enactments have given crime victims
extensive rights to participate in criminal cases. Many of these rights apply
only after the filing of criminal charges, such as the victim’s right to be
heard during court proceedings. A crime victim’s right to deliver an impact
statement at sentencing, for instance, can only be exercised after a
prosecutor has filed charges against a defendant and obtained a conviction.
Other rights, however, can apply even before the formal filing of charges.
As one example, the Crime Victims’ Rights Act (CVRA) 1 extends to
federal crime victims the right to “confer” with prosecutors. But can
victims exercise this right before charges have been filed?
This question has tremendous practical importance. In many cases,
prosecutors negotiate pleas well before any charges are ever drafted. If
crime victims’ rights enactments do not extend rights to victims until the
formal filing of charges, then crime victims can be effectively excluded
from the plea bargaining process. Yet the exclusion of victims in early
stages of a criminal case affects more than just the content of a plea deal.
Crime victims will also lose other important rights in the process if the
formal filing of charges is the necessary trigger for those rights. If, for
example, prosecutors work out a nonprosecution agreement with an
offender, they need not notify his victims of what they are doing or of the
fact that potential charges will never be filed.
The issue of pre-charging rights has most prominently surfaced in
connection with federal cases. In 2010, the Department of Justice’s Office
of Legal Counsel (OLC) weighed in on the issue and released a legal
opinion arguing that victims of federal crimes have no CVRA rights during
a federal criminal investigation. 2 The Justice Department took the position
that rights under the CVRA do not apply until prosecutors formally initiate
criminal proceedings by filing a complaint, information, or indictment. The
Department claims to find support for that limiting interpretation of the
statute in its plain language and legislative history.
Shortly after the Department released its opinion, one of the CVRA’s
congressional sponsors, then-Senator Jon Kyl, sent a letter to Attorney
General Eric Holder strenuously objecting to the Department’s conclusions.
Senator Kyl directly stated his view that “[w]hen Congress enacted the
1 Scott Campbell, Stephanie Roper, Wendy Preston, Louarna Gillis, and Nila Lynn
Crime Victims’ Rights Act, Pub. L. No. 108-405, 118 Stat. 2260, 2261–65 (2004) (codified
as amended at 18 U.S.C. § 3771 (2012) and 42 U.S.C. § 10603(d)–(e) (2006)).
2 The Availability of Crime Victims’ Rights Under the Crime Victims’ Rights Act of
2004, 35 Op. O.L.C. 1 (Dec. 17, 2010) [hereinafter OLC CVRA Rights Memo], available at
http://goo.gl/fHmCL4.
62 CASSELL ET AL. [Vol. 104
CVRA, it intended to protect crime victims throughout the criminal justice
process—from the investigative phases to the final conclusion of a case.” 3
Senator Kyl contested the Department’s analysis of the statute and, in
particular, its use of statements from him during Congress’s consideration
of the CVRA.
This Article sides with the CVRA’s cosponsor and concludes that
crime victims’ CVRA rights attach before formal charging. Both the
CVRA’s plain language and its legislative history lead inexorably to this
conclusion, as every court that has considered this issue has concluded.
This Article also contends that, as a matter of sound public policy, crime
victims should have rights before the formal filing of criminal charges.
This Article proceeds in four parts. Part I frames the issues under
discussion by defending the importance of extending rights to crime victims
during criminal investigations. Part I also provides background on victims’
rights and gives a concrete illustration of a case in which the question of
pre-charging rights for crime victims has arisen—specifically, the Jeffrey
Epstein sex abuse case before a federal court in Florida. In that case, girls
victimized by Epstein have argued that they should have been consulted
about a federal nonprosecution agreement; Department attorneys have
responded that because prosecutors never filed charges, government
officials had no formal obligations to inform the girls.
Part II reviews the CVRA’s purpose, text, structure, and legislative
history. This review establishes that the CVRA extends rights to crime
victims before formal charges are filed.
Part III critiques OLC’s position that the CVRA extends rights to
victims only after prosecutors have lodged charges in court. The
Department’s proffered arguments do not withstand close scrutiny,
particularly in light of the fact that the CVRA covers federal agencies
involved in the “detection” and “investigation” of crime, 4 and specifically
authorizes crime victims to file CVRA motions in situations where “no
prosecution is underway.” 5
Part IV then proposes a specific approach for determining when crime
victims’ CVRA rights attach. This Part explains that the rights should
attach when federal law enforcement or prosecuting agencies have
identified a federal crime and a particular victim with sufficient precision
that they would send a “target” letter to a criminal defendant in similar
circumstances. If prosecutors have sufficient information to provide notice
3 Letter from Jon Kyl, U.S. Sen., to Eric H. Holder, Jr., Att’y Gen. (June 6, 2011),
reprinted in 157 CONG. REC. S3608 (daily ed. June 8, 2011) (statement of Sen. Jon Kyl).
4 18 U.S.C. § 3771(c)(1).
5 Id. § 3771(d)(3).
2014] CRIME VICTIMS’ RIGHTS 63
to a potential criminal of his rights, they can do the same for his victims.
This Part also notes that the Department of Justice and state prosecutors
already successfully provide rights to victims before charging. This
successful experience strongly suggests that providing rights to victims
early in the criminal justice process will not be unduly burdensome.
I. THE ISSUE OF RIGHTS FOR CRIME VICTIMS DURING CRIMINAL
INVESTIGATIONS
To consider the question of whether victims should have rights during
criminal investigations, some understanding of the underlying purposes of
victims’ rights enactments will be useful. These enactments are typically
designed to make victims participants in all phases of the criminal justice
process. 6 Congress drafted the CVRA, for example, broadly to make crime
victims participants in criminal cases. The Jeffrey Epstein sex abuse case
demonstrates the importance of victim participation even before charges are
filed.
A. A BRIEF HISTORY OF CRIME VICTIMS’ RIGHTS
The crime victims’ rights movement has sought to make crime victims
important participants in the criminal justice process. The movement began
in the wake of the Warren Court revolution, which extended new rights to
criminal defendants. 7 With the courts paying increasing attention to
criminal defendants, crime victims’ advocates began to argue that the
victims themselves had been overlooked. 8 The movement gained great
visibility in the early 1980s when President Ronald Reagan appointed the
President’s Task Force on Victims of Crime. 9 The Task Force published a
report concluding that “the criminal justice system has lost an essential
balance. . . . The victims of crime have been transformed into a group
oppressively burdened by a system designed to protect them. This
oppression must be redressed.” 10
The Task Force chronicled how crime victims were treated in all
stages of the criminal justice process, from the police investigation through
6 See DOUGLAS E. BELOOF, PAUL G. CASSELL & STEVEN J. TWIST, VICTIMS IN CRIMINAL
PROCEDURE 3–39 (3d ed. 2010) (describing reforms from a historical perspective); see also,
e.g., 18 U.S.C. § 3771(a) (2012).
7 See BELOOF, CASSELL & TWIST, supra note 6, at 3–39 (describing the history of
victims’ rights in American law and the early days of the modern movement).
8 See, e.g., William F. McDonald, Towards a Bicentennial Revolution in Criminal
Justice: The Return of the Victim, 13 AM. CRIM L. REV. 649, 651–55 (1976).
9 Exec. Order 12,360, 47 Fed. Reg. 17,975 (Apr. 27, 1982); see also PRESIDENT’S TASK
FORCE ON VICTIMS OF CRIME, FINAL REPORT, at ii (1982).
10 PRESIDENT’S TASK FORCE ON VICTIMS OF CRIME, FINAL REPORT, supra note 9, at 114.
64 CASSELL ET AL. [Vol. 104
court proceedings, and ultimately to any parole or other release of the
criminal. The Task Force then made a series of recommendations for all
criminal justice agencies, including the police, prosecutors, and the courts. 11
The recommendations were designed to allow crime victims to receive
information about, and to participate in, criminal cases.
In its most far-reaching recommendation, the Task Force proposed
amending the U.S. Constitution to protect victims’ rights. 12 The proposed
amendment would have built on existing constitutional rights for criminal
defendants by extending similar rights to crime victims. 13
After the publication of the report, crime victims’ advocates secured
the passage of a series of state constitutional and legislative reforms. These
measures guaranteed victims’ rights in the criminal process, such as the
right to be notified of court proceedings, to attend those proceedings, and to
speak at appropriate points in the process, such as plea bargaining and
sentencing. The measures were embodied in state statutes and, in more
than thirty states, state constitutional “bills of rights” for crime victims. 14
While many of the measures had narrow participatory rights, 15 some of the
amendments also contained more open-ended language, promising victims
a right to fair treatment “throughout the criminal justice process.” 16
After successfully passing many state constitutional amendments,
crime victims’ rights advocates sought to achieve the Task Force’s broadest
recommendation: to secure protection for victims’ rights in the U.S.
Constitution. In 1996, victims’ advocates proposed a Victims’ Rights
Amendment in a Rose Garden ceremony attended by President Bill
Clinton. 17 The proposed amendment contained a list of rights for crime
victims, largely paralleling the rights contained in state victims’ rights
11 See id. at 56–82.
12 Id. at 114.
13 Id. at 114–15.
14 For a map depicting the states with (and without) such amendments, see State Victim
Rights Amendments, NAT’L VICTIMS’ CONSTITUTIONAL AMENDMENT PASSAGE,
http://goo.gl/znI4YW (last visited Nov. 26, 2013); for discussion, see infra Part IV.D
(discussing legislative reforms in a number of states).
15 See, e.g., CAL. CONST. art. I, § 28; MICH. CONST. art. I, § 24; N.C. CONST. art. I, § 37.
For a detailed discussion of how one state constitutional amendment is intended to operate,
see generally Paul G. Cassell, Balancing the Scales of Justice: The Case for and the Effects
of Utah’s Victims’ Rights Amendment, 1994 UTAH L. REV. 1373.
16 E.g., ARIZ. CONST. art. II, § 2.1(A)(1); MICH. CONST. art. I, § 24(1); TEX. CONST. art. I,
§ 30(a)(1); see CAL. CONST. art. I, § 28(b)(1) (“throughout the criminal or juvenile justice process”).
17 John M. Broder, Clinton Calls for Victims’ Rights in Constitution, L.A. TIMES, June
26, 1996, at A1. For detailed discussions of the legislative efforts, see Paul G. Cassell,
Recognizing Victims in the Federal Rules of Criminal Procedure: Proposed Amendments in
Light of the Crime Victims’ Rights Act, 2005 BYU L. REV. 835, 847–50.
2014] CRIME VICTIMS’ RIGHTS 65
amendments. 18 Congress considered the amendment several times, but it
never obtained the requisite two-thirds support in both houses to secure the
Amendment’s approval. 19 Critics quarreled not so much with the goals of
the amendment but rather with the necessity of constitutionalizing such
rights. 20
B. THE CRIME VICTIMS’ RIGHTS ACT
Unable to obtain the necessary supermajority to pass a federal
constitutional amendment, in April 2004, crime victims’ rights advocates
decided to focus on federal legislation protecting crime victims. In
exchange for backing off from their efforts to pass a constitutional
amendment, crime victims’ advocates received near-universal congressional
support for a “broad and encompassing” statutory victims’ bill of rights. 21
Victims’ advocates sought to expand on the protections found in other
previously-enacted victims’ rights statutes, including, notably, the Victims’
Rights and Restitution Act of 1990. 22 That statute had also included a bill
of rights for crime victims, yet because of limited enforcement mechanisms,
crime victims had been unable to secure court protection of the rights listed
in the statute. 23
The statute that Congress passed to solve these problems—the Crime
Victims’ Rights Act of 2004—gave victims “the right to participate in the
18 See Cassell, supra note 17, at 848–49. For the pros and cons of the amendment as
originally introduced, compare Paul G. Cassell, Barbarians at the Gates? A Reply to the
Critics of the Victims’ Rights Amendment, 1999 UTAH L. REV. 479 [hereinafter Cassell,
Barbarians at the Gates?], and Steven J. Twist, The Crime Victims’ Rights Amendment and
Two Good and Perfect Things, 1999 UTAH L. REV. 369, with Robert P. Mosteller, The
Unnecessary Victims’ Rights Amendment, 1999 UTAH L. REV. 443. For a more recent
discussion of a newer version of the amendment, see Paul G. Cassell, The Victims’ Rights
Amendment: A Sympathetic, Clause-by-Clause Analysis, 5 PHOENIX L. REV. 301 (2012).
19 Hon. Jon Kyl et al., On the Wings of Their Angels: The Scott Campbell, Stephanie
Roper, Wendy Preston, Louarna Gillis, and Nila Lynn Crime Victims’ Rights Act, 9 LEWIS &
CLARK L. REV. 581, 588–91 (2005).
20 Proposed Constitutional Amendment to Protect Crime Victims, S.J. Res. 1: Hearing
Before the S. Comm. on the Judiciary, 108th Cong. 128–29 (2003) (statement of Sen. Patrick
Leahy); see also Steven J. Twist & Daniel Seiden, The Proposed Victims’ Rights
Amendment: A Brief Point/Counterpoint, 5 PHOENIX L. REV. 341, 356, 378 (2012)
(illustrating that the necessity dispute has endured to the present day).
21 150 CONG. REC. 7295 (2004) (statement of Sen. Dianne Feinstein); see also Kyl et al.,
supra note 19, at 591–93.
22 Victims’ Rights and Restitution Act of 1990, Pub. L. No. 101-647, 104 Stat. 4820
(codified as amended at 42 U.S.C. §§ 10601, 10606–07 (2006)).
23 See, e.g., United States v. McVeigh, 106 F.3d 325, 328 (10th Cir. 1997) (per curiam)
(refusing to enforce a victim’s right to attend a trial); Cassell, Barbarians at the Gates?,
supra note 18, at 515–22 (discussing McVeigh).
66 CASSELL ET AL. [Vol. 104
system.” 24 It extended broad rights to crime victims, including “[t]he right
to be treated with fairness and with respect for the victim’s dignity and
privacy” 25 and “[t]he reasonable right to confer with the attorney for the
Government in the case.” 26 It also commanded that these rights must be
afforded by the Justice Department “and other departments and agencies of
the United States engaged in the detection, investigation, or prosecution of
crime.” 27 The CVRA also contained specific enforcement mechanisms.
The Act provided that rights can be “assert[ed]” by “[t]he crime victim or
the crime victim’s lawful representative, and the attorney for the
Government . . . .” 28 The courts were also required under the Act to “ensure
that the crime victim is afforded the rights” given by the law. 29
Congress appeared to have at least two goals in mind in passing the
CVRA. The first was simply to ensure that crime victims understood what
was happening in the criminal justice process. This goal is apparent from
the fact that the CVRA gives crime victims rights to notification about
various court hearings, as well as more general rights to confer with
prosecutors and to be treated with fairness. 30 The CVRA’s Senate sponsors
explained:
In case after case we found victims, and their families, were ignored, cast aside, and
treated as non-participants in a critical event in their lives. They were kept in the dark
by prosecutors to[o] busy to care enough, by judges focused on [defendants’] rights,
and by a court system that simply did not have a place for them. 31
In passing the CVRA, Congress sought to change the system’s
obliviousness to crime victims that often “left crime victims and their
families victimized yet again.” 32
A second overarching purpose of the CVRA was to allow crime
victims to play a role in the criminal justice process. Through the CVRA,
Congress intended to make victims “independent participant[s]” in the
criminal justice process. 33 The CVRA extends to crime victims a series of
“rights” in the criminal justice process—rights that the victims have
24 150 CONG. REC. 7297; see 18 U.S.C. § 3771 (2012). For a description of victim
participation, see BELOOF, CASSELL & TWIST, supra note 6, at 728–33.
25 18 U.S.C. § 3771(a)(8).
26 Id. § 3771(a)(5).
27 Id. § 3771(c)(1).
28 Id. § 3771(d)(1).
29 Id. § 3771(b)(1).
30 See id. § 3771(a).
31 150 CONG. REC. 7296 (2004) (statement of Sen. Dianne Feinstein).
32 Id.
33 Id. at 7302 (statement of Sen. Jon Kyl).
2014] CRIME VICTIMS’ RIGHTS 67
independent standing to assert. 34 Congress viewed these provisions as
establishing a victim’s right “to participate in the process where the
information that [victims] and their families can provide may be material
and relevant . . . .” 35
Congress appears to have had both intrinsic and instrumental reasons
for wanting crime victim participation. Congress clearly thought that such
participation was valuable in its own right. Senator Kyl embodied this
belief and explained his decision to become involved in the crime victims’
rights movement because of his discovery that victims:
were suffering through the trauma of the victimization and then being thrown into a
system which they did not understand, which nobody was helping them with, and
which literally prevented them from participation in any meaningful way. I came to
realize there were literally millions of people out there being denied these basic
rights . . . . 36
But Congress also thought crime victim participation in the criminal
justice system could be instrumentally useful. For example, in protecting a
victim’s right to be heard by those determining a defendant’s sentence, a
victim might be able to provide important information that could alter that
sentence. As a result, the sentence might reflect a fuller appreciation of the
danger posed by a defendant, and the judge might take appropriate steps to
prevent others from being victimized. 37
Congress also intended to ensure that crime victims were not
revictimized in the criminal justice process—that is, that they would not
suffer what scholars have called “secondary harm” in the process. 38 The
concern is that victims suffer when they are excluded from the criminal
justice process. Congress sought to end that suffering by making victims
meaningful participants in criminal cases. 39
C. AN ILLUSTRATION OF THE PRE-CHARGING ISSUE: THE JEFFREY
EPSTEIN CASE
Given the potentially expansive scope of victims’ rights under both
state provisions and the CVRA, a critical question arises about how to apply
them: Do the rights come into existence only after prosecutors formally file
34 Compare 18 U.S.C. § 3771(d), with Susan Bandes, Victim Standing, 1999 UTAH L. REV.
331, 344–45 (illustrating the debate surrounding victim standing prior to adoption of the CVRA).
35 150 CONG. REC. 7296 (statement of Sen. Dianne Feinstein).
36 Id. at 7298 (statement of Sen. Jon Kyl).
37 Id.
38 See, e.g., Douglas Evan Beloof, The Third Model of Criminal Process: The Victim
Participation Model, 1999 UTAH L. REV. 289, 294–96; Richard A. Bierschbach, Allocution and
the Purposes of Victim Participation Under the CVRA, 19 FED. SENT’G REP. 44, 46 (2006).
39 150 CONG. REC. 7298 (statement of Sen. Jon Kyl).
68 CASSELL ET AL. [Vol. 104
criminal charges? Or do they attach at some earlier point in the process?
Does v. United States, a federal case in the U.S. District Court for the
Southern District of Florida, usefully illustrates the issue. 40 In that case, the
U.S. Attorney’s Office for the Southern District of Florida developed
considerable evidence that Jeffrey Epstein, a billionaire with extensive
political and social connections, 41 had sexually molested more than thirty
young girls between 2001 and 2007 at his West Palm Beach mansion. 42
The U.S. Attorney’s Office entered into contentious plea negotiations with
Epstein over how the case should be resolved. The prosecutors initially
sought a resolution that would have required Epstein to plead guilty to at
least a felony sex offense. After pressure from Epstein, for reasons that
have never been clearly explained, 43 the U.S. Attorney’s Office agreed to
enter into a nonprosecution agreement. Under the agreement, the U.S.
Attorney’s Office agreed not to prosecute him and, in exchange, Epstein
agreed to plead guilty to two state felonies for soliciting prostitution with a
minor. After entering those guilty pleas, Epstein was sentenced to only
eighteen months in state jail. 44 No federal charges were ever filed and
40 Does v. United States, 817 F. Supp. 2d 1337 (S.D. Fla. 2011). In the interest of full
disclosure, two of the authors of this Article (Cassell and Edwards) are co-counsel for the
victims in this case. The statement of the facts in this Article draws heavily on the victims’
allegations as they have detailed in their pending motion for summary judgment in the case.
See Jane Doe #1 & Jane Doe #2’s Motion for Finding of Violations of the Crime Victims’
Rights Act and Request for a Hearing on Appropriate Remedies at 3–23, Does, 817 F. Supp.
2d 1337 (No. 9:08-cv-80736-KAM) [hereinafter Jane Doe Motion] (providing fifty-three
proposed facts in the case). The U.S. Attorney’s Office has generally disputed some of these
allegations without offering specifics as to what happened. See, e.g., United States’
Response to Jane Doe #1 & Jane Doe #2’s Motion for Finding of Violations of the Crime
Victim Rights Act and Request for a Hearing on Appropriate Remedies at 34–43, Does, 817
F. Supp. 2d 1337 (No. 9:08-cv-80736-KAM) [hereinafter United States’ Response]. As of
this writing, Epstein has declined to intervene in the case to dispute the allegations.
41 See, e.g., Paul Harris, Prince Andrew’s Link to Sex Offender Jeffrey Epstein Taints
Royalty in US, GUARDIAN (Mar. 12, 2011), http://goo.gl/0I4vAE; Landon Thomas Jr., Jeffrey
Epstein: International Moneyman of Mystery, N.Y. MAG., http://goo.gl/11Cayc (last visited
Nov. 26, 2013).
42 See Jane Doe Motion, supra note 40, at 3–4; Abby Goodnough, Questions of
Preferential Treatment Are Raised in Florida Sex Case, N.Y. TIMES, Sept. 3, 2006, at A19.
43 The U.S. Attorney responsible for the plea deal later revealed that after negotiations
started, “[w]hat followed was a year-long assault on the prosecution and the prosecutors” by
Epstein. Letter from R. Alexander Acosta, former U.S. Att’y, to Whom It May Concern
(Mar. 20, 2011), reprinted in Conchita Sarnoff, Behind Pedophile Jeffrey Epstein’s
Sweetheart Deal, DAILY BEAST (Mar. 25, 2011, 3:17 AM), http://goo.gl/kyveiF. Acosta,
however, claimed that the pressure did not influence the ultimate disposition of the case. Id.
44 Landon Thomas Jr., From Paradise to County Jail: A Billionaire Financial Adviser
Will Serve 18 Months in Sex Case, N.Y. TIMES, July 1, 2008, at C1.
2014] CRIME VICTIMS’ RIGHTS 69
Epstein spent much of the jail term on “work release” to his luxurious
office. 45
The U.S. Attorney’s Office did not tell Epstein’s victims about the
nonprosecution agreement until well after it had taken effect. To the
contrary, even after the nonprosecution agreement had been signed, the
Office continued to tell the victims that the case was still “under
investigation” and that they should be “patien[t].” 46 When the victims
learned of the agreement, two of them (Jane Doe Number One and Jane
Doe Number Two) filed suit in federal court under the Crime Victims’
Rights Act, arguing that the prosecutors had violated their CVRA right to
confer as well as their right to be treated fairly. 47 The victims contended
that prosecutors should have conferred with them about the nonprosecution
agreement before it became final.
In response, the U.S. Attorney’s Office argued primarily that it was
under no obligation to extend the victims any rights under the CVRA. It
was the Government’s blunt position that “CVRA rights do not attach in the
absence of federal criminal charges filed by a federal prosecutor.” 48 In
short, the Government argued it was not required to confer in any way with
the victims, or even treat them fairly, because the CVRA was not yet in
play. The issue is thus squarely framed: Is the Government correct in its
assertion that it has no CVRA obligations in cases like the Epstein case
where federal prosecutors never lodged federal charges against a suspect?
In view of the CVRA’s prominence, resolution of this issue may shed
important light on the nature of crime victims’ enactments and the breadth
of the role that crime victims should have in the criminal justice process.
II. THE CVRA’S APPLICATION BEFORE FORMAL CHARGES ARE FILED
To analyze the issue of whether the CVRA extends rights to crime
victims before prosecutors have formally filed charges, it is useful to look at
the CVRA’s purposes, language, and judicial interpretations. This Part
looks at each of these three issues in turn.
45 See Michele Dargan, Feds Say They Treated Epstein Victims Fairly, PALM BEACH
DAILY NEWS (Apr. 8, 2011, 7:23 PM), http://goo.gl/rTGDed; Conchita Sarnoff, Billionaire
Pedophile Goes Free, DAILY BEAST (July 20, 2010, 7:05 PM), http://goo.gl/MSTi17.
46 See Jane Doe Motion, supra note 40, at 14, 16 (internal quotation marks and citations
omitted).
47 See Emergency Victim’s Petition for Enforcement of Crime Victim’s Rights Act, 18
U.S.C. Section 3771 at 2, Does v. United States, 817 F. Supp. 2d 1337 (S.D. Fla. 2011) (No.
9:08-cv-80736-KAM).
48 United States’ Response, supra note 40, at 7.
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.” 49
As discussed above, 50 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 51 —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. 52
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 precharging
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).
50 See supra notes 24–27.
51 See supra notes 28–29.
52 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].
2014] CRIME VICTIMS’ RIGHTS 71
to consider in crafting a plea. Similarly, allowing victims to participate
early in the process avoids retraumatizing victims. Again, as the Epstein
case usefully illustrates, it may be extremely difficult for victims to
discover after the fact that potential criminal charges against a criminal who
has abused them have been secretly bargained away. Jane Doe Number
One and Jane Doe Number Two, for example, were outraged when they
discovered prosecutors had entered into an agreement blocking any
prosecution of sex offenses Epstein committed against them—and all
without telling them. 53
In short, the purposes animating the CVRA all suggest that the Act
was meant to, and should, extend rights to crime victims before formal
charges are filed.
B. THE CVRA’S PLAIN LANGUAGE
While the general purposes of the CVRA support a broad
interpretation of the Act, it is important to examine whether those purposes
have been expressed in the Act’s language. Without a linkage to the Act’s
text, the general purpose might not provide a sound basis for
interpretation. 54 But the CVRA’s plain language makes clear that Congress
intended for the law to provide at least some rights to crime victims
throughout the criminal justice process, even before the filing of criminal
charges.
According to its text, the CVRA provides eight specifically
enumerated rights for crime victims and an additional right to be reasonably
notified of these rights. 55 Some of these rights presuppose the formal filing
of criminal charges. For instance, the CVRA extends to victims the “right
to reasonable, accurate, and timely notice of any public court proceeding.” 56
That particular right obviously does not apply before charges are filed, as
no “court proceedings” exist before a defendant is charged.
But the CVRA also promises crime victims rights that are not
specifically tied to court proceedings. Perhaps most expansively, the
CVRA guarantees victims the “right to be treated with fairness and with
53 Without disclosing confidential attorney–client communications, this fact is readily
apparent from victims’ filings in the Epstein case. See, e.g., Jane Doe Motion, supra note 40, at
17 (stating that the victims relied on the U.S. Attorney’s Office representatives “to their
detriment[,]” that if they knew the true facts, “they would have taken steps to object” to the plea
agreement, and that they believed criminal prosecution to be “extremely important”).
54 See ANTONIN SCALIA & BRYAN A. GARNER, READING LAW: THE INTERPRETATION OF
LEGAL TEXTS 56 (2012).
55 18 U.S.C. § 3771(a) (2012) (enumerating eight rights); id. § 3771(c)(1) (requiring
government officers use “their best efforts” to notify victims of their rights).
56 Id. § 3771(a)(2).
72 CASSELL ET AL. [Vol. 104
respect for the victim’s dignity and privacy,” 57 a broad right that does not
appear to be directly linked to a filed court case. Similarly, the CVRA
promises victims the “reasonable right to confer with the attorney for the
Government in the case.” 58 In this section, the CVRA’s drafters appear to
have eschewed a reference to court proceedings, using a broader term
instead. Of course, a “case” can refer both to a judicial case before a court
and an investigative case pursued by a law enforcement officer. It is
common usage to say such things as, “The police officer investigated and
solved the case.” Dictionary definitions of the word “case” support this
varied interpretation. 59
If there remained any doubts about whether the CVRA applies during
the investigative part of the criminal justice process, two other provisions in
the CVRA resolve them. The CVRA specifically directs that “[o]fficers
and employees of the Department of Justice and other departments and
agencies of the United States engaged in the detection, investigation, or
prosecution of crime shall make their best efforts to see that crime victims
are notified of, and accorded, the rights described in [the CVRA].” 60 Of
course, there would be no reason to direct that agencies involved in the
“detection” and “investigation” of crime have CVRA obligations if the Act
did not extend to pre-charging situations. Congress thus directly envisioned
the victims’ rights law to apply during the “detection” and “investigation”
phases of criminal cases.
Similarly, the CVRA’s venue provision instructs that crime victims
who seek to assert rights in pre-charging situations should proceed in the
court where the crime was committed: “The rights described in subsection
(a) [of the CVRA] shall be asserted in the district court in which a
defendant is being prosecuted for the crime or, if no prosecution is
underway, in the district court in the district in which the crime occurred.” 61
Here again, it is hard to see why this provision would be necessary unless
the CVRA applies before the formal filing of charges.
For all these reasons, the CVRA’s plain language indicates that the
victims have protected rights under the Act even before charges are filed.
57 Id. § 3771(a)(8).
58 Id. § 3771(a)(5) (emphasis added).
59 See, e.g., BLACK’S LAW DICTIONARY 243–44 (9th ed. 2009) (defining, among the
definitions of “case,” a “test case” as “[a] criminal investigation” as in “the Manson case”);
WEBSTER’S THIRD NEW INTERNATIONAL DICTIONARY OF THE ENGLISH LANGUAGE
UNABRIDGED 345 (1993) (defining “case” as “a circumstance or situation (as a crime)
requiring investigation or action by the police or other agency”).
60 18 U.S.C. § 3771(c)(1) (emphasis added).
61 Id. § 3771(d)(3) (emphasis added).
2014] CRIME VICTIMS’ RIGHTS 73
C. COURTS RECOGNIZE THAT CRIME VICTIMS HAVE CVRA RIGHTS
BEFORE CHARGING
Because crime victims lack a right to appointed counsel, many victims
have difficulty litigating the scope of their rights. 62 But in a few cases,
victims have been able to secure counsel to argue that they have rights in
the criminal justice process during the investigation of federal crimes.
When those cases have reached the issue of whether the CVRA applies
before charges have been filed, courts have uniformly agreed with the
victims’ position.
Perhaps the leading case to date to assess this question is the Fifth
Circuit’s decision in In re Dean. 63 There, a wealthy corporate criminal
defendant reached a generous plea deal with the Government—a deal that
the Government filed for approval with the district court without conferring
with the victims. Citing procedural rights under the CVRA, the victims
requested that the trial court reject the plea agreement. 64 The District Court
for the Southern District of Texas specifically concluded that victims’
CVRA rights could apply during the investigation of the crime: “There are
clearly rights under the CVRA that apply before any prosecution is
underway.” 65 The district court concluded, however, that the Government
had not violated the CVRA because it had secured judicial permission to
dispense with notification to victims. 66
The victims sought appellate review in the Fifth Circuit. 67 There, the
court concurred with the district court that CVRA rights apply before trial.
Unlike the district court, however, it held that the Government had violated
the victims’ rights:
The district court acknowledged that “[t]here are clearly rights under the CVRA that
apply before any prosecution is underway.” Logically, this includes the CVRA’s
establishment of victims’ “reasonable right to confer with the attorney for the
Government.” At least in the posture of this case (and we do not speculate on the
62 John W. Gillis & Douglas E. Beloof, The Next Step for a Maturing Victim Rights
Movement: Enforcing Crime Victim Rights in the Courts, 33 MCGEORGE L. REV. 689, 693 (2002).
63 527 F.3d 391 (5th Cir. 2008). Other aspects of the case are discussed in Paul G.
Cassell & Steven Joffee, The Crime Victims’ Expanding Role in a System of Public
Prosecution: A Response to the Critics of the Crime Victims’ Rights Act, 105 NW. U. L. REV.
COLLOQUY 164, 172–76 (2011).
64 In re Dean, 527 F.3d at 392.
65 United States v. BP Prods. N. Am. Inc., No. H-07-434, 2008 WL 501321, at *11 (S.D.
Tex. Feb. 21, 2008).
66 Id. at *1, *19.
67 For discussion of the difficulties crime victims face to obtain appellate review of their
claims, see generally Paul G. Cassell, Protecting Crime Victims in Federal Appellate Courts:
The Need to Broadly Construe the Crime Victims’ Rights Act’s Mandamus Provision, 87
DENV. U. L. REV. 599 (2010).
74 CASSELL ET AL. [Vol. 104
applicability to other situations), the government should have fashioned a reasonable
way to inform the victims of the likelihood of criminal charges and to ascertain the
victims’ views on the possible details of a plea bargain. 68
The Fifth Circuit then remanded the matter to the district court to determine
the appropriate remedy for the violation of the victims’ rights. 69
The Fifth Circuit’s decision in Dean has been cited favorably in four
recent district court decisions, which provides further support for the
conclusion that the CVRA applies before charges have been filed. In
United States v. Rubin, 70 victims of a federal securities fraud argued that
they had CVRA rights even before prosecutors filed a superseding
indictment covering the specific crimes affecting the victims. Citing Dean,
the District Court for the Eastern District of New York agreed that the
rights were expansive and could apply before charges were filed but were
subject to the outer limit that the Government has at least “contemplated”
charges. 71
Similarly, in United States v. Oakum, 72 the District Court for the
Eastern District of Virginia considered a claim that CVRA rights did not
apply until after a defendant had been convicted. In rejecting that
argument, the court agreed with the Dean court that victims acquire rights
even before a prosecution begins. 73
The District Court for the Northern District of Indiana held to the same
effect in In re Petersen. 74 There, the court held that a victim’s right to be
treated with fairness and with respect for [his or her] dignity and privacy
“may apply before any prosecution is underway and isn’t necessarily tied to
a ‘court proceeding’ or ‘case.’” 75 The court, however, found that the
“conclusory allegations” in the victims’ petition did not “create a plausible
claim for relief under the CVRA.” 76
68 In re Dean, 527 F.3d at 394 (internal citations omitted).
69 Id. at 396. On remand, the district court held additional hearings in which the victims
participated, satisfying their CVRA rights. See United States v. BP Prods. N. Am. Inc., 610
F. Supp. 2d 655, 660 (S.D. Tex. 2009).
70 558 F. Supp. 2d 411 (E.D.N.Y. 2008).
71 Id. at 419 (internal citation omitted). Rubin’s suggestion about limitations that apply
to pre-indictment assertions of rights is discussed at notes 184–187 and 193 infra and
accompanying text.
72 No. 3:08cr132, 2009 WL 790042 (E.D. Va. Mar. 24, 2009).
73 Id. at *2.
74 No. 2:10-CV-298 RM, 2010 WL 5108692 (N.D. Ind. Dec. 8, 2010).
75 Id. at *2 (citing In re Dean, 527 F.3d 391, 394 (5th Cir. 2008); United States v. BP
Prods. N. Am. Inc., H-07-434, 2008 WL 501321 (S.D. Tex. Feb. 21, 2008)).
76 Id. Petersen also held that one specific CVRA right—the right to confer—only
applies after charges have been filed. Id. But the authorities Petersen cites for that
proposition prove no such thing. Confusingly, Petersen cited the Fifth Circuit’s ruling in
2014] CRIME VICTIMS’ RIGHTS 75
Perhaps the most extensive discussion of this issue has come from the
Epstein case discussed earlier. 77 Overruling the Government’s argument
that the CVRA only applies after the formal filing of charges, Does v.
United States held that “the statutory language clearly contemplates precharge
proceedings.” 78 The court in Does explained that “[c]ourt
proceedings involving the crime are not limited to post-complaint or postindictment
proceedings, but can also include initial appearances and bond
hearings, both of which can take place before a formal charge.” 79 The court
also noted that the CVRA’s “requirement that officials engaged in
‘detection [or] investigation’ [of crimes] afford victims the rights
enumerated in subsection (a) surely contemplates pre-charge application of
the CVRA.” 80 Finally, the court in Does noted that “[i]f the CVRA’s rights
may be enforced before a prosecution is underway, then, to avoid a strained
reading of the statute, those rights must attach before a complaint or
indictment formally charges the defendant with the crime.” 81
In sum, the relevant case law unanimously agrees that the CVRA
extends rights to crime victims before charges have been filed.
III. THE JUSTICE DEPARTMENT’S UNPERSUASIVE POSITION
Despite the CVRA’s broad remedial purposes, its expansive language
referring to investigations, and the unanimous case law extending rights to
victims prior to defendants being charged, the OLC released a
memorandum in 2011 concluding that CVRA rights attach only “from the
time that criminal proceedings are initiated (by complaint, information, or
indictment).” 82 OLC’s analysis is unpersuasive. Although OLC’s opinion
Dean for support; but (as just explained above) Dean held exactly the opposite. Similarly,
Petersen cites other cases involving the right to confer after charges have been filed. Id. But
none of these cases actually presented the issue of the CVRA’s application to pre-indictment
situations, since charges had already been filed in each of these cases. See, e.g., In re
Stewart, 552 F.3d 1285, 1289 (11th Cir. 2008).
77 Does v. United States, 817 F. Supp. 2d 1337 (S.D. Fla. 2011).
78 Id. at 1341.
79 Id.
80 Id. at 1342.
81 Id. Recently, the district court in the Does case also rejected Government efforts to
dismiss the action. The district court found that, if the victims could prove the factual
allegations they have made, then they would be entitled to relief, including potentially the
relief of invalidating the nonprosecution agreement that Epstein obtained from the
Government. Does v. United States, No. 9:08-cv-80736-KAM, 2013 WL 3089046, at *3
(S.D. Fla. June 19, 2013).
82 OLC CVRA Rights Memo, supra note 2, at 1. Although the opinion is dated December
17, 2010, it was publicly released on May 20, 2011. See Letter from Jon Kyl, supra note 3.
76 CASSELL ET AL. [Vol. 104
invokes the CVRA’s definition of crime “victim,” its legislative intent, and
its structure, a closer reading of each demonstrates little support for the
notion that crime victims must await the formal filing of charges before
accruing CVRA rights.
A. OLC’S MISREADING OF THE CVRA’S DEFINITION OF “VICTIM”
OLC’s lead argument is that the CVRA’s definition of “victim”
presupposes that criminal charges have been formally filed. 83 The CVRA
defines a “victim” who is protected as “a person directly and proximately
harmed as a result of the commission of a Federal offense.” 84 Focusing on
the word “offense,” OLC concedes that it does not “conclusively resolve”
the question of when rights attach. Nevertheless, OLC claims that the word
“naturally suggests that a person’s status as a ‘crime victim’ can only be
determined after there has been a formal decision to charge a defendant
with a particular Federal offense.” 85 OLC goes on to elaborate:
Under this reading, the earliest that a “crime victim” under the Act could be identified
would be upon the filing of a criminal complaint—that is, at the earliest point at which
there is a sworn written statement of probable cause to believe that a particular
defendant committed an identified Federal offense and hence the first point at which it
is possible with any certainty to identify a “crime victim” directly and proximately
harmed by the commission of that offense. 86
OLC is disingenuous in asserting that the “first point” at which a
person has been harmed by a federal crime arises only after a criminal
complaint has been filed. The Department routinely makes such
determinations at earlier points in criminal cases, such as when it sends a
“target letter” to a defense attorney during a grand jury investigation. 87
Indeed, OLC remarkably ignores the fact that the Department is directly
required to identify victims of a crime before the filing of a criminal
complaint, both by statute and through internal policy directives.
The Victims’ Rights and Restitution Act of 1990 (VRRA) 88 requires
the Department to identify victims before the filing of a criminal complaint.
83 OLC CVRA Rights Memo, supra note 2, at 6.
84 18 U.S.C. § 3771(e) (2012) (emphasis added).
85 OLC CVRA Rights Memo, supra note 2, at 5.
86 Id.
87 A target letter explains the procedural process underlying an indictment and places the
defendant on notice of the general nature of the government’s criminal investigation. See
U.S. DEP’T OF JUSTICE, TITLE 9: U.S. ATTORNEYS’ CRIMINAL RESOURCE MANUAL § 160,
[hereinafter CRIMINAL RESOURCE MANUAL] available at http://goo.gl/YHLDke (providing an
example target letter); infra Part III.A (developing this point further).
88 Pub. L. No. 101-647, 104 Stat. 4820 (codified as amended at 42 U.S.C. §§ 10601,
10606–07 (2006)).
2014] CRIME VICTIMS’ RIGHTS 77
Passed in 1990, the VRRA provided crime victims with a set of procedural
rights similar to those found in the CVRA, along with rights to notification
about victim services. 89 In 2004, the CVRA repealed and replaced the
section of the VRRA listing procedural rights, while leaving other parts of
the VRRA intact. 90 Under the remaining parts of the VRRA, the Justice
Department must inform victims of federal crimes of services that are
available to them, including “emergency medical and social services,”
counseling, and support. 91 The Department is further obligated to keep
victims fully informed about “the status of the investigation of the crime, to
the extent it is appropriate to inform the victim and to the extent that it will
not interfere with the investigation.” 92 These rights to notice about
“emergency medical and social services” 93 as well as to the “status of the
investigation of the crime” 94 obviously require the Department to identify
victims of federal crimes before formal charges have been filed. Indeed, the
VRRA makes this point clear by directing the Department to not only notify
the victim about the status of the investigation but also about the later
“filing of charges against a suspected offender.” 95 The VRRA then extends
victims’ rights to information through the rest of the criminal justice
process by requiring the Department to provide notice to victims of such
things as the imposed sentence and the defendant’s release. 96
The VRRA not only requires the Department to identify victims during
the investigation of a crime, it also defines those victims in a very similar
fashion to the CVRA. The VRRA defines “victim” as a “person that has
suffered direct physical, emotional, or pecuniary harm as a result of the
commission of a crime.” 97 Thus, the Department is already routinely
identifying persons who have been “harmed” by federal crimes shortly after
the commission of those crimes and well before formal charging.
The Attorney General has also promulgated internal guidelines
requiring Justice Department components to identify victims rapidly after a
crime. The Attorney General Guidelines for Victim and Witness Assistance
provide that “Department responsibilities to crime victims begin as soon as
possible after the detection of a crime at which they may be undertaken
89 See supra notes 22–23 and accompanying text.
90 Justice for All Act of 2004, Pub. L. No. 108-405, § 102(a), 118 Stat. 2260, 2261
(2004) (codified at 18 U.S.C. § 3771(a) (2012)).
91 See 42 U.S.C. § 10607(c).
92 Id. § 10607(c)(3)(A).
93 Id. § 10607(c)(1)(A).
94 Id. § 10607(c)(3)(A).
95 Id. § 10607(c)(3)(C).
96 Id. § 10607(c)(3)(G).
97 Id. § 10607(e)(2).
78 CASSELL ET AL. [Vol. 104
without interfering in the investigation. Generally, this point in time is
defined by the opening of a criminal investigation.” 98
Given the way the two statutes work, it would make no sense to
artificially confine the CVRA’s reach until after the filing of a criminal
complaint. Before then, victims will have often received information from
the Department about the status of the investigation. They might wish to
confer with prosecutors about how the case is proceeding, and the CVRA
extends to them a right to confer. 99 Similarly, while the Department is
notifying victims about the services they may receive and the status of an
investigation, it is important that the victims be treated fairly. The CVRA
extends the right to be treated fairly. 100 Indeed, it would be absurd to think
that Congress wanted to permit the Justice Department to treat crime
victims unfairly until criminal charges have been filed.
Instead of recognizing Congress’s intent, OLC’s 2011 memorandum
simply cites to a series of cases in which courts concluded that a victim of
uncharged conduct should not be afforded statutory protections. 101 Yet
none of these cases—United States v. Turner, 102 Searcy v. Paletz, 103 or
Searcy v. Skinner 104 —provide strong support for OLC’s position. Turner is
a particularly poor fit. Although OLC’s memorandum characterizes Turner
as excluding victims of uncharged conduct, 105 the magistrate judge adopted
an inclusive reading of the statute precisely because of his reservations
about the CVRA’s legislative history and plain language. The judge
suggested that “any person who self-identifies as [a victim]” could be
presumed to qualify for protection under the CVRA as a preliminary
matter. 106 In fact, the line quoted by the Department is lifted out of context.
The full sentence reads: “While the offense charged against a defendant can
98 ATTORNEY GENERAL GUIDELINES, supra note 52, at 7 (internal citations omitted); see
also 42 U.S.C. § 10607(b).
99 18 U.S.C. § 3771(a)(5) (2012) (preserving “[t]he reasonable right to confer with the
attorney for the Government in the case”).
100 Id. § 3771(a)(8) (preserving “[t]he right to be treated with fairness and with respect
for the victim’s dignity and privacy”).
101 OLC CVRA Rights Memo, supra note 2, at 6 n.6.
102 367 F. Supp. 2d 319 (E.D.N.Y. 2005).
103 No. 6:07-1389-GRA-WMC, 2007 WL 1875802 (D.S.C. June 27, 2007).
104 No. 6:06-1418-GRA-WMC, 2006 WL 1677177 (D.S.C. June 16, 2006).
105 OLC CVRA Rights Memo, supra note 2, at 6 n.6.
106 Turner, 367 F. Supp. 2d at 327 (“Instead, I have taken and will continue to follow an
inclusive approach: absent an affirmative reason to think otherwise, I will presume that any
person whom the government asserts was harmed by conduct attributed to a defendant, as
well as any person who self-identifies as such, enjoys all of the procedural and substantive
rights set forth in § 3771.”).
2014] CRIME VICTIMS’ RIGHTS 79
serve as a basis for identifying a ‘crime victim’ as defined in the CVRA, the
class of victims with statutory rights may well be broader.” 107
Paletz and Skinner similarly provide scant support for the
Department’s position. In Skinner, a prison inmate attempted to bring a pro
se civil suit against another inmate for allegedly attacking him during
incarceration. 108 In dismissing the suit in an unpublished decision, the
district court recognized that the Government had expressly declined to
bring charges against the other inmate and concluded that the CVRA did
not create a “mechanism to bring an action against Defendant directly.” 109
In Paletz, that same inmate brought a similar pro se claim against another
inmate, the Federal Bureau of Prisons, the FBI, and the U.S. Attorney
General. 110 In a parallel, unpublished decision, the district court dismissed
the suit, noting that the CVRA is designed to give victims certain rights
“within the prosecutorial process against a criminal defendant.” 111
Because Skinner and Paletz involve (apparently frivolous) civil suits,
they say nothing about the CVRA’s reach in criminal cases, and any
language to that effect would be pure dicta. Moreover, the courts’ terse
analysis in both cases does not contain any substantive discussion of
whether CVRA rights apply in criminal cases before the filing of charges.
Instead, the courts simply cited to language from a Second Circuit decision
that stated that the CVRA does not give victims any rights against
defendants until those defendants have been convicted 112 —a holding clearly
limited to restitution, as many other CVRA rights clearly apply before
conviction. 113 Reviewing these two cases in an extended, published
opinion, the U.S. District Court for the Southern District of Texas noted that
reading these two decisions as standing for the proposition that charges
must be filed for CVRA rights to attach “appears inconsistent with the
CVRA recognition of certain subsection (a) rights that apply during
investigation, before any charging instrument is filed.” 114 As a result, OLC
107 Id. at 326.
108 Skinner, 2006 WL 1677177, at *1–2.
109 Id. at *2.
110 Searcy v. Paletz, No. 6:07-1389-GRA-WMC, 2007 WL 1875802, at *1–2 (D.S.C.
June 27, 2007).
111 Id. at *2.
112 Id. (“However, ‘the CVRA does not grant victims any rights against individuals who
have not been convicted of a crime.’” (quoting In re W.R. Huff Asset Mgmt. Co., 409 F.3d
555, 564 (2d Cir. 2005))).
113 Of course, a defendant cannot be ordered to pay restitution as part of his sentence
until he has been found guilty. See 18 U.S.C. § 3664 (2012) (describing sentencing
procedures for ordering restitution).
114 United States v. BP Prods. N. Am. Inc., No. H-07-434, 2008 WL 501321, at *12 n.7
(S.D. Tex. Feb. 21, 2008).
80 CASSELL ET AL. [Vol. 104
vastly overstates its position when it asserts that “most courts . . . have
declined to extend enforceable rights under the CVRA to alleged victims of
conduct that did not lead to criminal proceedings.” 115 All the courts that
have actually reached the issue have concluded exactly the opposite. 116
B. OLC’S DISTORTION OF THE CVRA’S STRUCTURE AND LEGISLATIVE
HISTORY
The next section of OLC’s memorandum maintains that the CVRA’s
structure and legislative history lead to the conclusion that the CVRA is
“best understood” as extending rights after charges have been filed. Here
again, OLC’s analysis is truncated at best and misleading at worst.
OLC begins this part of its analysis by observing that some of the
rights in the CVRA are limited to court proceedings. OLC notes, for
example, that the CVRA gives victims the “right to reasonable, accurate,
and timely notice of any public court proceeding . . . involving the
crime.” 117 But the fact that some of the rights listed in the CVRA apply to
court proceedings hardly means that all of the rights are to be so restricted.
The federal criminal justice process includes stages that are pre-charging,
post-charging, and post-conviction. It would hardly be surprising to find
that a statute that Congress intended to be “broad and encompassing” 118
covered events occurring after the filing of charges.
Indeed, OLC appears to recognize that at least three of the rights listed
in the CVRA could easily apply before charges are filed: (1) the “right to be
reasonably protected from the accused”; (2) the “reasonable right to confer
with the attorney for the Government in the case”; and (3) the “right to be
treated with fairness and with respect for the victim’s dignity and
privacy.” 119 None of these rights explicitly refer to court “proceedings” or
other events (such as parole hearings) that necessarily occur after the filing
of formal charges. 120
115 OLC CVRA Rights Memo, supra note 2, at 5–6. Notably, the Department does not
embrace the language from Huff found within the Skinner and Paletz decisions because
presumably such an approach would be contrary to many of the rights found in the CVRA.
116 See infra Part I.C.
117 OLC CVRA Rights Memo, supra note 2, at 6 (emphasis added) (quoting 18 U.S.C.
§ 3771(a)(2)).
118 150 CONG. REC. 7295 (2004) (statement of Sen. Dianne Feinstein).
119 OLC CVRA Rights Memo, supra note 2, at 7–8, 10 (quoting 18 U.S.C. § 3771(a)(1),
(5), (8)).
120 OLC appears to have overlooked another right that could well apply before charges
are filed: the right to be notified of one’s rights under the CVRA. See 18 U.S.C.
§ 3771(c)(1) (requiring prosecutors to “make their best efforts to see that crime victims are
notified of, and accorded, the rights described in [the CVRA]”); United States v. Rubin, 558
F. Supp. 2d 411, 428 (E.D.N.Y. 2008) (discussing potential application of the right to
2014] CRIME VICTIMS’ RIGHTS 81
For purposes of this Article, it is appropriate to focus on the last two of
these three rights: the right to confer and the right to fair treatment. The
first of these three rights—the right to be reasonably protected—is already
clearly extended by another statute to crime victims before the filing of
charges. While OLC does not acknowledge this fact, the VRRA extends
the first right to crime victims, directing that a “responsible official shall
arrange for a victim to receive reasonable protection from a suspected
offender and persons acting in concert with or at the behest of the suspected
offender.” 121 Because a “suspected” offender obviously exists before the
filing of criminal charges, the VRRA envisions the right to protection being
provided as soon as is practical after a victim suffers from the commission
of a crime. Additionally, the sections of the Attorney General Guidelines
for Victim and Witness Assistance addressing the VRRA direct that Justice
Department components must provide reasonable protection even before the
filing of criminal charges. 122 So, under the VRRA, the Justice Department
should already be providing reasonable protection for a victim before an
offender is indicted, regardless of how the CVRA is interpreted. 123
The VRRA, however, does not contain a right to confer and a right to
fair treatment and respect for the victim’s dignity. Therefore, if victims are
going to receive these statutory rights before trial, these rights must be
found in the CVRA. With regard to the CVRA provision that victims have
the “reasonable right to confer with the attorney for the Government in the
case,” 124 OLC contends that “[t]he phrase ‘in the case’ implies the pendency
of a judicial proceeding.” 125 To bolster its conclusion, OLC then cites
Black’s Law Dictionary, which includes among its several definitions of the
word “case” the definition “a civil or criminal proceeding.” 126 But OLC
does not acknowledge that Black’s Law Dictionary also defines and
exemplifies a “case” more broadly as a “criminal investigation <the
notification of rights before charges are filed). For purposes of this Article, it is not
necessary to explore this right in detail. If other CVRA rights apply before charges are filed,
a fortiori this right does as well. If a victim has a right, presumably the victim should be
notified of the existence of that right.
121 42 U.S.C. § 10607(c)(2) (2006) (emphasis added).
122 See ATTORNEY GENERAL GUIDELINES, supra note 52, at 7–8, 26–28.
123 Exactly what “reasonable protection” means, however, remains uncertain. See
generally Mary Margaret Giannini, Redeeming an Empty Promise: Procedural Justice, the
Crime Victims’ Rights Act, and the Victim’s Right to Be Reasonably Protected from the
Accused, 78 TENN. L. REV. 47 (2010) (suggesting the right has not been adequately defined
and proposing ways to do so).
124 18 U.S.C. § 3771(a)(5).
125 OLC CVRA Rights Memo, supra note 2, at 8.
126 Id. (citing BLACK’S LAW DICTIONARY, supra note 59, at 243).
82 CASSELL ET AL. [Vol. 104
Manson case>.” 127 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 turns 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 right to confer
relates to the conduct of criminal proceedings after the filing of charges.” 128
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.” 129
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.” 130 Senator Kyl then went on to observe that the
colloquy began by noting that the right to confer “is intended to be
expansive.” 131 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.” 132 It was
against that backdrop that Senator Kyl gave the example of conferring
about proceedings “after charging.”
In his letter to Attorney 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’—i.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.’ 133
Senator Kyl further commented that he had discussed the CVRA’s potential
application in grand jury proceedings, an application that required the Act
127 BLACK’S LAW DICTIONARY, supra note 59, at 244.
128 OLC CVRA Rights Memo, supra note 2, at 9.
129 Id. (emphasis added) (quoting 150 CONG. REC. 7302 (2004) (statement of Sen. Jon
Kyl) (internal quotation marks and citation omitted).
130 Letter from Jon Kyl, supra note 3.
131 Id. (quoting 150 CONG. REC. S4260, S4268 (daily ed. Apr. 22, 2004) (statement of
Sen. Dianne Feinstein)).
132 Id.
133 Id.
2014] CRIME VICTIMS’ RIGHTS 83
to extend rights before indictment. 134 Thus, if anything, the legislative
history does not support OLC’s conclusion—it contradicts it. 135
OLC should have had no doubt as to the intent of Senator Kyl and his
cosponsors at the time of the Act’s passage. Shortly after shepherding the
CVRA through the Congress, Senator Kyl cowrote a law review article
about the Act. 136 In that article, he directly indicated that the CVRA applies
before charges are filed. Senator Kyl and his coauthors wrote:
While most of the rights guaranteed by the CVRA apply in the context of legal
proceedings following arrest and charging, other important rights are triggered by the
harm inflicted by the crime itself. For example, the right to be treated with fairness,
the right to be reasonably protected from the accused (who may qualify as the accused
before his arrest), and the right to be treated with respect for the victim’s dignity and
privacy each may arise without regard to the existence of legal proceedings. 137
Remarkably, OLC cited Senator Kyl’s law review article (in a footnote), but
then concluded without explanation that the CVRA cosponsor’s views were
for some reason different than Congress’s. 138
OLC also appears to acknowledge that its interpretation of the CVRA
could well contradict what it describes as prosecutorial “good practice.” 139
OLC noted that some Justice Department components (for example, the
Environmental and Natural Resources Division) had advocated that the
right to confer should apply during pre-charging plea discussions. 140 OLC
then acknowledged that limiting the right to confer until after formal
charging could “reduce the impact of a victim’s participation in subsequent
court proceedings.” 141 OLC attempted to dodge this problem by explaining:
“The question before us, though, is not whether it would be advisable as a
matter of good practice . . . for Government attorneys to confer with victims
pre-charge when appropriate . . . .” 142 OLC then explained that even under
its narrow interpretation of the statute, “the CVRA would still ensure that
134 Id.
135 Attorney General Holder never sent a response to Senator Kyl’s letter. But Assistant
Attorney General Ronald Weich sent a belated response. Letter from Ronald Weich, Assistant
Att’y Gen., to Jon Kyl, U.S. Sen. (Nov. 3, 2011) (on file with authors). That response did not
address Senator Kyl’s concern that his remarks were being quoted out of context.
136 See generally Kyl et al., supra note 19.
137 Id. at 594.
138 OLC CVRA Rights Memo, supra note 2, at 8 n.7.
139 Id. at 10.
140 Id. at 9 (citations omitted) (discussing an interdepartmental memorandum addressing
this question).
141 Id. at 10.
142 Id.
84 CASSELL ET AL. [Vol. 104
the victim has an opportunity to be heard by the court, and by the
Government, before the court accepts the plea.” 143
But OLC failed to recognize that its interpretation of the CVRA
rendered the right to be heard a nullity in many important cases—including,
notably, the Epstein case. 144 Where prosecutors and defense attorneys work
out a nonprosecution agreement that agreement will never be presented to a
court for review. Thus, in cases where the need for victim participation
may be the greatest—that is, in cases where the Government is considering
never filing any charges—OLC’s interpretation would bar victims from
having any rights at all.
Even in situations where a prosecutor works out a plea agreement,
OLC’s interpretation is problematic. As OLC recognizes, prosecutors and
defense counsel commonly work out pre-indictment plea agreements
(particularly in white-collar cases), under which a defendant will plead
guilty to certain charges. 145 Then, the parties jointly present to the district
court a criminal “information” (that is, a recitation of the charges drafted by
the prosecutor but never presented to the grand jury 146 ) and a plea
agreement, asking the court to file the criminal information and
simultaneously accept the guilty plea. As the OLC memorandum
acknowledges, a crime victim would have the right to object to the plea
agreement, because the CVRA gives crime victims the “right to be
reasonably heard” at any public proceedings involving a plea. 147 But under
OLC’s interpretation of the CVRA, a crime victim has no right to notice of
court hearings until the charges are filed. Thus, if the information and plea
are filed simultaneously, as is often the case, two scenarios are possible. A
victim could have no prior right to notice of the proceeding at which the
plea was being accepted, or alternatively (if the act of filing the information
in the course of accepting a plea triggers a notification right), the district
court would be required to stop in the middle of proceedings and ensure that
notification was belatedly provided. Of course, these difficulties are all
avoided if the right to confer is properly construed as attaching before
charges are filed, such as during plea negotiations between prosecutors and
defense attorneys.
143 Id.
144 The OLC opinion was publicly released on May 20, 2011. Perhaps not
coincidentally, this release date was shortly before the Government filed its response in the
Epstein case.
145 See OLC CVRA Rights Memo, supra note 2, at 9 (acknowledging the potential effect
of the CVRA on plea negotiations).
146 See FED. R. CRIM. P. 7(b).
147 18 U.S.C. § 3771(a)(4) (2012); OLC CVRA Rights Memo, supra note 2, at 6–7.
2014] CRIME VICTIMS’ RIGHTS 85
More importantly, extending the right in this fashion will not be
unduly burdensome for federal prosecutors. After the OLC memorandum
was made public, the Department amended the Attorney General
Guidelines for Victim and Witness Assistance to require prosecutors to
make reasonable efforts toward a goal of providing victims with a
meaningful opportunity to offer their views before plea agreements are
formally reached. 148 “In circumstances where plea negotiations occur
before a case has been brought, Department policy is that this should
include reasonable consultation prior to the filing of a charging instrument
with the court.” 149 Thus, Department policy already extends pre-charging
rights to victims. The CVRA should be understood as having the same
scope.
OLC also notes that the CVRA right “to be treated with fairness and
with respect for the victim’s dignity and privacy” is a right that could apply
before charges are filed. 150 Indeed, OLC is forced to concede (as district
courts have recognized) that the “right to be treated with fairness and with
respect for the victim’s dignity and privacy may apply with great force
during an investigation, before any charging instrument has been filed.” 151
OLC nonetheless maintains that the right to fairness only applies after
charges have been filed. OLC relies on the canon of statutory construction
noscitur a sociis, meaning that words are known by their companions, 152 for
its interpretation of the CVRA. OLC argues that because the other seven
enumerated rights are limited to post-charging situations, the eighth right
should be as well. Of course, this argument assumes that OLC’s
construction of the other seven rights is correct—a point very much in
dispute. 153 If, for example, the right to confer applies before charges are
filed, then presumably noscitur a sociis would cut the other way—the right
to fairness should likewise be construed as applying before charges are
filed.
Moreover, OLC omits from its discussion of the fairness provision any
assessment of the CVRA’s purposes. In construing a statute, a court must
consider the “purpose and context” of the statute. 154 In describing the
fairness provision, Senator Kyl emphasized that it conferred a “broad”
148 ATTORNEY GENERAL GUIDELINES, supra note 52, at 41–42.
149 Id. at 41.
150 OLC CVRA Rights Memo, supra note 2, at 10 (quoting 18 U.S.C. § 3771(a)(8)).
151 Id. (quoting United States v. BP Products North America Inc., No. H-07-434, 2008
WL 501321, at *11 (S.D. Tex. Feb. 21, 2008) (internal quotation marks omitted)).
152 Id. at 11.
153 See supra Part III.A.
154 Kasten v. Saint-Gobain Performance Plastics Corp., 131 S. Ct. 1325, 1331 (2011).
86 CASSELL ET AL. [Vol. 104
right. 155 The reason for adopting such a broad right was that “[t]oo often
victims of crime experience a secondary victimization at the hands of the
criminal justice system. This provision is intended to direct Government
agencies and employees, whether they are in the executive or judiciary
branch, to treat victims of crime with the respect they deserve.” 156 OLC’s
failure to consider the purposes underlying the CVRA is a glaring
oversight.
OLC never attempts to explain why the CVRA’s drafters would want
victims to have a right to fair treatment once criminal charges were filed but
possess no such right before the filing of criminal charges. Clearly, many
victims can and do suffer secondary victimization during criminal
investigations, such as when sexual assault victims are treated
inappropriately by law enforcement agents. 157 It would contradict the
purpose of preventing victim mistreatment in the criminal justice system to
artificially limit the right to fairness to the point at which charges are filed.
The right to fairness logically applies at all stages of the criminal justice
process.
C. OLC’S INEFFECTIVE RESPONSE TO THE CVRA’S COVERAGE AND
VENUE PROVISIONS
At the end of its memorandum, OLC finally discusses what it
identifies as the two strongest arguments for construing the CVRA as
applying before charging: the coverage provision and the venue provision.
OLC acknowledges, as it must, that the CVRA’s coverage extends to any
federal employee engaged in “the detection, investigation or prosecution of
crime.” 158 Such employees “shall make their best efforts to see that crime
victims are notified of, and accorded, the rights” afforded by the statute. 159
Notably, this duty applies to individuals not just in the Justice Department
(where all federal prosecutors are located) but other agencies as well, such
155 150 CONG. REC. 7303 (2004) (statement of Sen. Jon Kyl).
156 Id.
157 See SUSAN ESTRICH, REAL RAPE 50–51 (1987) (describing how a rape victim’s sexual
history may be used against her in court proceedings); Beloof, supra note 38, at 309–10
(collecting examples of victims’ issues that arise during the investigative process); see also
PRESIDENT’S TASK FORCE ON VICTIMS OF CRIME, FINAL REPORT, supra note 10, at 57–62 (making
recommendations for how police should treat victims during the criminal justice process).
158 OLC CVRA Rights Memo, supra note 2, at 15 (quoting 18 U.S.C. § 3771(c)(1)
(2012)) (internal quotation marks omitted).
159 18 U.S.C. § 3771(c)(1).
2014] CRIME VICTIMS’ RIGHTS 87
as environmental crimes investigators in the Environmental Protection
Agency (EPA). 160
This coverage provision would seem to answer any lingering question
about whether the CVRA applies before charging. In directing that federal
employees engaged in the “detection” and “investigation” of crime must
respect victims’ rights, Congress wanted broad rights extending beyond just
the prosecution of a case. As the district court concluded in the Epstein
case, this provision “surely contemplates pre-charge application of the
CVRA.” 161
OLC gamely maintains, however, that Congress was simply trying to
provide that federal law enforcement agents should provide rights to
victims when a criminal case moves to its prosecution phase. OLC noted
the uncontroversial point that law enforcement agents “often develop a
relationship of trust with crime victims during the investigation that
continues as they assist crime victims in negotiating active criminal
proceedings.” 162 OLC then asserted:
Given this continuing active role that agents typically play during criminal
prosecutions, we find the fact that the CVRA assigns responsibility to them, together
with the attorney for the Government, to . . . accord them their rights under the CVRA
to be entirely consistent with our conclusion that those rights arise only once the
Government has initiated criminal proceedings. 163
But OLC’s contorted position never explains why Congress found it
necessary to break out three separate phases of the criminal justice process:
the “detection,” “investigation,” and “prosecution” of crime. If the
congressional intent was simply to cover, for example, FBI agents or EPA
agents during the post-charging phase of a case, it could have simply
omitted those words from the CVRA. An FBI agent, for example, would be
engaged in the “prosecution” of the case when assisting the victim after the
formal filing of charges. On OLC’s reading of the statute, the words
“detection” and “investigation” become meaningless, contrary to the wellknown
canon of construction verba cum effectu sunt accipienda, which
means that, if possible, every word and every provision is to be given
effect. 164
OLC also suggests that the “most significant” argument supporting
pre-charging application of rights is the venue provision, which allows
160 See Kyl et al., supra note 136, at 615 (“Notice should be given to the fact that it applies
not just to the Department of Justice, but to all ‘departments and agencies of the United States
engaged in the detection, investigation, or prosecution of crime.’” (citation omitted)).
161 Does v. United States, 817 F. Supp. 2d 1337, 1342 (S.D. Fla. 2011).
162 OLC CVRA Rights Memo, supra note 2, at 15.
163 Id.
164 See, e.g., Reiter v. Sonotone Corp., 442 U.S. 330, 339 (1979).
88 CASSELL ET AL. [Vol. 104
crime victims to assert CVRA rights “in the district court in which a
defendant is being prosecuted for the crime or, if no prosecution is
underway, in the district court in the district in which the crime
occurred.” 165 The Department contends that this language refers quite
narrowly to the “period of time between the filing of a complaint and the
initiation of formal charges.” 166 In support of its position, the Department
cites a Fourth Circuit case interpreting the Sixth Amendment right to
counsel, which held that a “prosecution” for purposes of that Amendment
does not begin when a criminal complaint is filed. 167 In OLC’s view, the
venue provision’s direction that victims should assert rights when “no
prosecution is underway” applies only to the limited time between when the
Government files a complaint against a defendant and some later point
when the “prosecution” actually begins. OLC notes that the filing of a
complaint triggers an initial appearance, where crime victims can have
important interests at stake, such as the right to be heard about a
defendant’s release on bail. OLC believes it is only to such post-complaint,
yet pre-indictment, proceedings (i.e., the initial appearance) that the venue
provision’s “no-prosecution-underway” language covers.
As a preliminary matter, OLC’s interpretation of the word
“prosecution” in the Department’s narrow construction of the venue
provision is a twisted one, at odds with the way that term is conventionally
used. The filing of a complaint is typically viewed as the start of a criminal
prosecution. For example, the leading criminal procedure hornbook states
that “[w]ith the filing of the complaint, the arrestee officially becomes a
‘defendant’ in a criminal prosecution.” 168
Moreover, having specifically rejected the filing of the criminal
complaint as the starting point for a “prosecution” within the CVRA’s
venue provision, OLC refuses to consider the implications of its alterative
starting point: the formal filing of an indictment. OLC states that “a
prosecution of a felony must commence with the return of an indictment by
a grand jury,” citing the Federal Rules of Criminal Procedure. 169 Yet OLC
does not pause to recognize that, while felonies proceed by way of
indictment, misdemeanors can proceed not only by indictment but also by
complaint. 170 The CVRA draws no distinction between misdemeanor and
165 OLC CVRA Rights Memo, supra note 2, at 14 (quoting 18 U.S.C. § 3771(d)(3) (2012)).
166 Id.
167 Id. (citing United States v. Alvarado, 440 F.3d 191, 200 (4th Cir. 2006)).
168 WAYNE R. LAFAVE ET AL., CRIMINAL PROCEDURE § 1.2(g), at 11 (5th ed. 2009)
(emphasis added).
169 OLC CVRA Rights Memo, supra note 2, at 14 (citing FED. R. CRIM. P. 7(a)(1)).
170 FED. R. CRIM. P. 58(b)(1) (“The trial of a misdemeanor may proceed on an
indictment, information, or complaint.” (emphasis added)).
2014] CRIME VICTIMS’ RIGHTS 89
felony offenses, broadly extending its protections to victims of any federal
offense. 171 Thus, under OLC’s interpretation that the filing of a complaint
does not trigger the CVRA, many victims who are entitled to CVRA
protections—i.e., victims of misdemeanor offenses prosecuted by way of
complaint—will never have proper venue to assert those rights because,
according to OLC’s strained argument, no prosecution ever started in their
cases.
Even limiting the focus to felony cases, OLC misleadingly describes
the Sixth Amendment case law. It is not immediately clear why one would
look to the right to counsel to determine the breadth of the term
“prosecution” in the Sixth Amendment. The right to counsel is not the only
right found in that Amendment. The Amendment also extends, for
example, a right to a speedy trial in all criminal “prosecutions.” 172 The case
law on the speedy trial right makes clear that the right “may attach before
an indictment and as early as the time of arrest and holding to answer a
criminal charge.” 173
In any event, the right to counsel cases are quite clear in providing that
a Sixth Amendment “prosecution” can (and often does) begin well before
an indictment. 174 The Supreme Court has directly held that the Sixth
Amendment’s right to counsel attaches “at or after the time that judicial
proceedings have been initiated against [a person]—‘whether by way of
formal charge, preliminary hearing, indictment, information, or
arraignment.’” 175 Thus, under this controlling precedent, some earlier point
in time before indictment is the triggering point of a Sixth Amendment
“prosecution.”
The cases that OLC cites are not to the contrary. It is true that some
federal appeals courts have stated that the mere filing of a criminal
complaint does not trigger a Sixth Amendment right to counsel. 176 But
there is a split of authority on this question, as OLC acknowledges in a
footnote. 177 More importantly for purposes of this Article, the cases holding
171 See 18 U.S.C. § 3771(e) (2012).
172 U.S. CONST. amend. VI.
173 United States v. Gouveia, 467 U.S. 180, 190 (1984) (quoting United States v.
MacDonald, 456 U.S. 1, 6–7 (1982)) (internal quotation marks omitted).
174 See, e.g., Texas v. Cobb, 532 U.S. 162, 172–73 (2001).
175 Brewer v. Williams, 430 U.S. 387, 398 (1977) (quoting Kirby v. Illinois, 406 U.S.
682, 689 (1972)).
176 See, e.g., United States v. Alvarado, 440 F.3d 191, 196 (4th Cir. 2006).
177 OLC CVRA Rights Memo, supra note 2, at 14 n.15 (citing Hanrahan v. United
States, 348 F.2d 363, 366 n.6 (D.C. Cir. 1965)); see WAYNE R. LAFAVE ET AL., CRIMINAL
PROCEDURE § 6.4(e), at 670 (3d ed. 2007) (“There is an apparent split of authority on the
question of whether the filing of a complaint is alone enough to give rise to a Sixth
Amendment right to counsel, though the difference probably is explainable by the fact that
90 CASSELL ET AL. [Vol. 104
that the mere filing of a complaint does not start a Sixth Amendment
prosecution also make clear that a later court hearing would start such a
prosecution. For instance, in the Fourth Circuit case cited by OLC, United
States v. Alvarado, the court reasons that “the main reason a law
enforcement officer files [] a complaint is to establish probable cause for an
arrest warrant. The criminal process is still in the investigative stage, and
the adverse positions of government and defendant have yet to solidify.” 178
Relying on that reasoning, the Fourth Circuit refused to find that the right to
counsel had attached merely because a police officer had filed a complaint
to get an arrest warrant. But the Fourth Circuit distinguished that situation
from “the initiation of adversary judicial proceedings against the
defendant.” 179 An initial appearance would be such an adversary
proceeding—i.e., it would be a “prosecution” under the Sixth Amendment.
In light of this, OLC’s position that the CVRA’s venue provision’s “noprosecution-underway”
reference covers proceedings, such as an initial
appearance, does not work.
The only sensible way to construe the CVRA’s venue provision is to
read it as conveniently dividing criminal cases into two phases: a
prosecution phase and an earlier investigative phase when “no prosecution
is under way.” 180 Senator Kyl, for instance, has noted that if there are any
doubts about how to construe the CVRA, this venue provision “sweeps
them away.” 181 Once again, the language that Congress used leads
inexorably to the conclusion that the CVRA extends rights to victims before
the filing of criminal charges.
IV. WHEN PRE-CHARGING RIGHTS ATTACH UNDER THE CVRA
The zeal with which OLC argues against applying CVRA rights before
charging raises the question of why it protests so much. Although OLC
never articulated this concern, perhaps OLC worried that pre-charging
rights would be difficult to administer. Such concerns should evaporate
with a workable construction of when pre-charging rights attach. In this
Part, we propose such a construction, suggesting that CVRA rights should
attach when substantial evidence exists that a specific person has been
directly and proximately harmed as the result of a federal crime. This
approach appears to already be the method that the Department is taking, as
this document is used for multiple purposes.”); see also Felder v. McCotter, 765 F.2d 1245,
1248 (5th Cir. 1985) (citing Texas law).
178 Alvarado, 440 F.3d at 200 (citations omitted) (internal quotation marks omitted).
179 Id. (quoting United States v. Gouveia, 467 U.S. 180, 187 (1984)).
180 18 U.S.C. § 3771(d)(3) (2012).
181 Kyl et al., supra note 19, at 594.
2014] CRIME VICTIMS’ RIGHTS 91
it has extended many rights to victims before the formal filing of criminal
charges as a matter of internal policy. 182 This approach appears to be
workable, as a number of states extend rights to victims during the
investigative process. 183
A. A TEST FOR DETERMINING WHEN RIGHTS ATTACH
As explained in the earlier Parts of this Article, the CVRA clearly
envisions that crime victims would have rights in the criminal justice
process before the return of indictments or the filing of criminal complaints.
The question then as to how much earlier in the process crime victims have
rights naturally arises. Does the CVRA apply one second after a federal
crime has been committed? Or does it apply at some later point during an
investigation?
This issue was nicely framed by the U.S. District Court for the Eastern
District of New York in a securities fraud case. In the first indictment
underlying the case, the charged crime did not include various victims. A
later superseding indictment broadened the charges to include those missing
individuals. When they brought a suit under the CVRA, the court noted
that “[q]uite understandably, movants perceive their victimization as having
begun long before the government got around to filing the superseding
indictment.” 184 The court, however, explained that there must be “logical
limits” to crime victims’ rights before the filing of charges. 185 The court
noted:
For example, the realm of cases in which the CVRA might apply despite no
prosecution being ‘underway,’ cannot be read to include the victims of uncharged
crimes that the government has not even contemplated. It is impossible to expect the
government, much less a court, to notify crime victims of their rights if the
government has not verified to at least an elementary degree that a crime has actually
taken place, given that a corresponding investigation is at a nascent or theoretical
stage. 186
The logical limits that the CVRA envisions could come from how the
Justice Department interacts with criminals during the investigation of a
crime. Crime victims’ rights advocates are fond of saying that victims
“only want to be treated like criminals”—that is, they simply want to have
the same kinds of rights as criminals receive, such as the right to be notified
182 See, e.g., ATTORNEY GENERAL GUIDELINES, supra note 52, at 41–42 (discussing the
right to confer regarding plea bargains).
183 See infra Part III.D.
184 United States v. Rubin, 558 F. Supp. 2d 411, 419 (E.D.N.Y. 2008).
185 Id.
186 Id.
92 CASSELL ET AL. [Vol. 104
of court hearings and to attend those hearings. 187 So it is instructive to
notice that the Justice Department policy is to extend certain rights to
suspected criminals during certain points in the investigative process. That
policy might provide guidance on when crime victims’ rights would attach.
Of particular interest here is the Department’s policy for grand jury
subpoenas issued to a “target” of a criminal investigation. When such a
target is subpoenaed to testify before a grand jury, the Department of
Justice will advise that target of his rights, such as the right to refuse to
answer any question that might be incriminating. 188 The Department of
Justice defines a “target” of a criminal investigation as “a person as to
whom the prosecutor or the grand jury has substantial evidence linking him
or her to the commission of a crime and who, in the judgment of the
prosecutor, is a putative defendant.” 189
If the Department’s investigation has coalesced sufficiently so that it
can provide notice of rights to putative defendants, it should likewise be in
a position to provide notice of rights to that defendant’s victims.
Combining the Department’s definition of “target” with the CVRA’s
coverage and definition-of-victim provisions produces a formulation
whereby CVRA rights attach in (at least) the following circumstances:
CVRA rights attach when an officer or employee of the Department of
Justice or any other department or agency of the United States engaged in
the detection, investigation, or prosecution of crime has substantial
evidence that an identifiable person has been directly and proximately
harmed as a result of the commission of a federal offense or an offense in
the District of Columbia, and in the judgment of the officer or employee,
that person is a putative victim of that offense.
This formulation borrows from the CVRA’s coverage provision 190 to
define the relevant universe of substantial evidence as that in the possession
of the Justice Department or other federal agencies. For instance, if state
law enforcement officers are investigating a bank robbery, the fact that the
robbery might also be prosecuted federally 191 does not make the teller at the
bank a federal “victim” of the crime until evidence regarding the crime
comes into the possession of a federal agency. The formulation also tracks
the CVRA’s definition of “victim” in limiting the universe of potential
187 See, e.g., Cassell, supra note 15, at 1376–85 (describing the rationale underpinning
state victims’ rights statutes).
188 CRIMINAL RESOURCE MANUAL, supra note 87, § 9-11.151.
189 Id.
190 18 U.S.C. § 3771(e) (2012).
191 Id. § 2113.
2014] CRIME VICTIMS’ RIGHTS 93
victims to those who have been “directly and proximately harmed.” 192
Finally, the formulation requires some federal officer or employee to
evaluate the evidence and reach the conclusion that a federal offense has
been committed that harmed the person in question. This determination
responds to the observation by the District Court for the Eastern District of
New York that the CVRA “cannot be read to include the victims of
uncharged crimes that the government has not even contemplated.” 193 At
the same time, such a formulation obviously does not require the filing of
formal criminal charges, or even the preparation of formal criminal charges.
Instead, all that is required is for the Department to recognize that a person
is a putative victim of a federal offense, just as all that is required for the
mailing of a target letter to a subpoenaed suspected criminal, is recognition
that he is a putative defendant in a federal case.
B. APPLYING THE TEST TO THE EPSTEIN CASE
To illustrate how the test would operate, it is useful to examine the
facts of the Epstein case. Applying the proposed test to that case produces
straightforward answers, which suggests that the test would be workable in
practice.
From 2001 to 2007, Jeffrey Epstein sexually abused more than thirty
minor girls in his mansion, including Jane Doe Number One and Jane Doe
Number Two. 194 Initially, of course, his acts of abuse were secret, unknown
to law enforcement. During that period of time, the victims would not have
had rights under the CVRA.
In 2006, Epstein’s acts of abuse came to the attention of the Palm
Beach Police Department, which began investigating the case. 195 At this
point, once again, the victims would not have had rights under the proposed
CVRA test. The CVRA extends rights in the federal criminal justice
process. A state investigation does not trigger the CVRA (although it may
trigger certain state law protections, as discussed below). 196
At some point in 2006, the Palm Beach Police Department asked the
FBI to investigate Epstein on federal sex offenses, such as using a means of
192 See id. § 3771(e).
193 United States v. Rubin, 558 F. Supp. 2d 411, 419 (E.D.N.Y. 2008).
194 As above, see supra notes 34–41 and accompanying text, this part of the Article
draws on the factual allegations made by the victims in this case—allegations that Epstein
has not intervened to dispute. See Jane Doe Motion, supra note 40, at 3–23.
195 See Probable Cause Affidavit, Palm Beach Police Department: Police Case No. 05-
368(1) (May 1, 2006), available at http://goo.gl/fAPFw5; see also Statement of Undisputed
Facts, Epstein v. Rothstein, No. 50 2009 CA 040800XXXXMBAG (Fla. Cir. Ct. Sept. 22,
2010), available at http://goo.gl/DzMbe8.
196 See supra notes 178–95 and accompanying text as well as infra Part IV.D.
94 CASSELL ET AL. [Vol. 104
interstate communication in connection with sex offenses and traveling in
interstate commerce for the purpose of engaging in illicit sexual conduct
with minors. 197 The local police provided the FBI with information, which
the FBI then investigated. Following an investigation, the FBI determined
that the allegations of abuse against Epstein were credible, and it presented
the case to the U.S. Attorney’s Office for the Southern District of Florida.
In 2007, the Office contacted counsel for Jeffrey Epstein and began
negotiating a resolution of the case against him. 198
Under our proposed test, the victims would not have had CVRA rights
the first moment that the FBI became aware of Epstein’s possible
commission of sex offenses. But after the FBI developed substantial
evidence of those sex offenses, identified victims of those offenses, and
presented the case to the appropriate U.S. Attorney’s Office for prosecution,
CVRA rights would have attached. Accordingly, the FBI would have been
required to notify the identified victims of their rights under the CVRA (as
well as under the VRRA). From that point forward in the case, the victims
would have had CVRA rights, such as the right to fair treatment and the
right to confer with prosecutors. In this case, the victims would have had
the right to confer with prosecutors about the nonprosecution agreement
that they ultimately reached with Epstein. 199
C. CURRENT DEPARTMENT POLICY ON PRE-CHARGING RIGHTS
One objection that might be made to the formulation offered above is
that it might unduly burden federal law enforcement officers and
prosecutors, who would need to make judgment calls about when an
investigation has coalesced to the point where “victims” are in existence,
“substantial evidence” has been collected, and notice of rights has to be
provided. Any such objection would be ill-founded, though, as it does not
appear that implementing such an approach would be difficult. 200
Presumably the Justice Department has already been providing such rights
in at least Texas, Louisiana, and Mississippi to comply with the Fifth
197 See 18 U.S.C. §§ 2422(b), 2423(b), (e) (2012).
198 A more substantial summary of the case is available in case filings. See Jane Doe
Motion, supra note 40.
199 See supra Part II.
200 This Article does not discuss mass victim cases in which notice needs to be provided
to hundreds of victims. But in such situations, the CVRA already provides for “reasonable”
alternative procedures. 18 U.S.C. § 3771(d)(2) (2012). The Department of Justice, for
example, has used websites to provide notice in terrorism cases to large numbers of victims.
See, e.g., United States v. Ingrassia, No. CR-04-0455ADSJO, 2005 WL 2875220, at *4
(E.D.N.Y. Sept. 7, 2005); Criminal Division’s Victim Notification Program, U.S. DEP’T OF
JUSTICE, http://goo.gl/6H6IEk (last visited Dec. 4, 2013).
2014] CRIME VICTIMS’ RIGHTS 95
Circuit’s 2008 ruling in In Re Dean, which held that the CVRA extends
rights to victims before defendants are charged. 201 We have not seen any
reports that providing the rights has been difficult.
Perhaps the reason for the lack of any reported difficulty is that the
Department’s current policy on crime victims’ rights already requires
notices to victims during investigations. The Justice Department has
promulgated the Attorney General Guidelines for Victim and Witness
Assistance, the latest edition of which is from May 2012. The Guidelines
discuss crime victims’ rights under both the CVRA and the earlier VRRA.
Because of the OLC memorandum discussed above, the Guidelines limit
CVRA rights until after the time “when criminal proceedings are initiated
by complaint, information, or indictment.” 202 The Department, however,
provides hortatory guidance that Justice Department employees shall make
“best efforts” to notify crime victims about their CVRA rights “as early in
the criminal justice process as is feasible and appropriate.” 203
Of greater interest, however, is the Department’s mandatory policy
regarding notification regarding crime victim services under the VRRA.
The Guidelines explain how “Department responsibilities to crime victims
begin as soon as possible after the detection of a crime at which they may
be undertaken without interfering in the investigation.” 204 The Guidelines
then direct the appropriate “responsible official” to provide crime victims
with “information about services available to them.” 205 This information
must be provided at “the earliest opportunity after detection of a crime at
which it may be done without interfering with an investigation.” 206
The Department appears to have little difficulty implementing this
requirement. Evidence of this fact comes from the Justice Department
itself, which responded to the letter from Senator Kyl discussed earlier
questioning why the Department was not applying the CVRA before
charges were filed. 207 In its response, the Department noted that OLC had
issued an opinion that the CVRA did not extend rights before the formal
filing of charges. 208 “Even so,” the Department explained, “the new AG
Guidelines go further and provide that Department prosecutors should make
201 527 F.3d 391 (5th Cir. 2008).
202 ATTORNEY GENERAL GUIDELINES, supra note 52, at 8.
203 Id. at 35.
204 Id. at 26 (citing 42 U.S.C. § 10607(b) (2006)).
205 Id. at 29 (citing 42 U.S.C. § 10607(b)(2)). Elsewhere, the Guidelines define the
official who is responsible as the appropriate federal law enforcement officer during the
investigation of the crime or the U.S. Attorney once charges have been filed. Id. at 25–26.
206 Id. at 29.
207 See supra notes 130–33 and accompanying text.
208 Letter from Ronald Weich, supra note 135, at 2.
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.” 209
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. 210
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 in 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. 211
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 rights under the CVRA. The four rights that would be potentially in
play before charging would be the right to reasonable protection, the right
to fair treatment, and the right to confer with prosecutors, along with the
predicate right to notice of these rights. 212 The VRRA already requires the
Department to provide reasonable protection, so this would not be an
expanded obligation. 213 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. 214 Additionally,
the right to “fair treatment” could only be a problem if the Department
209 Id.
210 Id. at 2–3.
211 Id. at 3.
212 18 U.S.C. § 3771(a)(1), (5), (8), (c)(1) (2012).
213 See 42 U.S.C. § 10607(c)(2) (2006).
214 See ATTORNEY GENERAL GUIDELINES, supra note 52, at 41–42.
2014] CRIME VICTIMS’ RIGHTS 97
wanted to treat victims unfairly. Given its repeated and professed
commitment to crime victims, here too this obligation should not be
burdensome. And finally, with regard to providing notice of CVRA rights
to victims, the fact that the Department currently provides notice of VRRA
rights indicates that it should not be difficult to provide notice of CVRA
rights as well.
Indeed, it is possible that the Department’s notification letters under
the VRRA already include this information. Interestingly, in the Epstein
case, the FBI notified Jane Doe Number One and Jane Doe Number Two
that they had rights in the criminal justice process. As early as June 7,
2007—more than three months before it concluded a nonprosecution
agreement with Epstein—the U.S. Attorney’s Office sent a notice to Jane
Doe Number One stating “your case is under investigation.” 215 The notice
also informed Jane Doe Number One that “as a victim and/or witness of a
federal offense, you have a number of rights.” 216 Among the rights that the
U.S. Attorney’s Office told Jane Doe that she possessed was “[t]he
reasonable right to confer with the attorney for the United States in the
case.” 217 Of course, she would not have had those rights if she was not
covered by the CVRA. The FBI therefore apparently assumed that the
CVRA already applied in the Epstein case. It was only later, when the
matter went into litigation, that the Department of Justice reversed course.
This change in course underscores the problems arising out of the OLC
memorandum and the Department’s current interpretation of the CVRA.
D. STATE LAW EXTENSION OF PRE-CHARGING RIGHTS
The focus of this Article so far has been crime victims’ rights in the
federal system. But in concluding, it is instructive to note how a number of
states offer parallel rights for crime victims, including the right to confer
with prosecutors. In fact, several states have extended such rights prior to
formally filing of charges against defendants—without reported difficulty,
so far as we are aware. This confirms our inference that extending CVRA
rights to crime victims before the formal filing of criminal charges is both
feasible and desirable.
A general overview of state laws illustrates the broad protections
afforded to victims in state criminal justice systems. Nearly two-thirds of
states have adopted constitutional provisions to protect victims throughout
215 Letter from A. Marie Villafaña, Assistant U.S. Att’y, to Jane Doe #1 (June 7, 2007),
reprinted in Jane Doe Motion, supra note 40, at ex. C.
216 Id.
217 Id.
98 CASSELL ET AL. [Vol. 104
the criminal justice process. 218 Moreover, every state has adopted a statute
that either enforces its constitutional amendment or creates independent
statutory rights for crime victims. 219 As a result, state legislatures and state
employees have attempted to give victims a voice in the criminal justice
process across the country.
Notably, while the strength of these rights varies from state to state, 220
nearly forty states require the prosecuting attorney to notify or confer with
the victim regarding plea negotiations. 221 Several jurisdictions involve the
victim in the charging decision. 222 In some states, law enforcement and
prosecutors must involve the victim at any “critical” 223 or “crucial” 224 stage
of the criminal proceeding; and in a minority of jurisdictions, the judge
must ascertain whether the prosecutor has afforded the victim statutory
protections prior to accepting a plea agreement. 225
The general contours of state provisions suggest that several state
governments have recognized the value in informing victims of their rights
and involving them in the criminal process prior to the formal filing of
charges. 226 Indeed, a brief look at the statutory protections illustrates the
extent to which states have attempted to afford protections to victims long
before the formal filing of charges.
218 See Victims’ Rights Laws by State, NAT’L CRIME VICTIM L. INST. (Oct. 17, 2013),
http://goo.gl/pdDx1w (listing and linking to state laws and constitutional amendments).
219 See LAFAVE ET AL., supra note 168, § 21.3(f), at 1041–42.
220 See generally DEAN G. KILPATRICK ET AL., NAT’L INST. OF JUSTICE, U.S. DEP’T OF
JUSTICE, THE RIGHTS OF CRIME VICTIMS—DOES LEGAL PROTECTION MAKE A DIFFERENCE?
(1998), available at http://goo.gl/EzH61S.
221 See Peggy M. Tobolowsky, Victim Participation in the Criminal Justice Process:
Fifteen Years After the President’s Task Force on Victims of Crime, 25 NEW ENG. J. ON
CRIM. & CIV. CONFINEMENT 21, 64 & n.168 (1999) (citing to victims’ rights statutes in
Connecticut, Illinois, and Michigan, among others). Unfortunately, as some commentators
have noted, the notice and conferral provisions in some states are ambiguous, and the
absence of case law precludes a definitive understanding of the reach of the right in some
jurisdictions. See LAFAVE ET AL., supra note 168, § 21.3(f), at 1041–42; see also, e.g., KAN.
STAT. ANN. § 74-7333(a)(5) (2002) (“The views and concerns of victims should be
ascertained and the appropriate assistance provided throughout the criminal process.”). In
some jurisdictions, the ambiguous use of an illustrative list could be read as suggesting that a
particular right, such as conferral, hinges on formal charges. See, e.g., KY. REV. STAT. ANN.
§ 421.500(6) (LexisNexis Supp. 2012) (requiring consultation on “disposition of the case
including dismissal, release of defendant pending judicial proceedings, any conditions of
release, a negotiated plea, and entry into a pretrial diversion program,” but failing to define
“disposition” or “case”).
222 See Tobolowsky, supra note 221, at 59–60.
223 E.g., LA. REV. STAT. ANN. §§ 46:1842(2), 46:1844(K) (2010).
224 E.g., FLA. CONST. art. I, § 16(b) (refraining from identifying the term).
225 See LAFAVE ET AL., supra note 168, § 21.3(f), at 1041.
226 See Victims’ Rights Laws by State, supra note 218.
2014] CRIME VICTIMS’ RIGHTS 99
For example, Arizona has adopted a constitutional amendment and
statutes that expansively protect victims. Under Arizona law, the definition
of victim hinges on whether a criminal offense has been committed, and the
term “criminal offense” is defined as “conduct that gives a peace officer or
prosecutor probable cause to believe” a crime has occurred. 227 In short, a
victim’s status does not hinge on the formal filing of charges but rather on
the criminal conduct itself. 228 Arizona law enforcement personnel must
give information to victims describing their rights as soon as possible, even
if formal charges have not yet been filed, and a victim may request that the
prosecutor discuss the disposition of the case, including “a decision not to
proceed with a criminal prosecution, dismissal, plea, or sentence
negotiations and pretrial diversion programs.” 229 A victim may even pursue
some rights if counts are dismissed. 230 Arizona courts have also permitted
victims to invoke their rights in the context of civil forfeiture
proceedings. 231
Hawaii’s victims’ rights statute illustrates how a state has defined the
term “case” more expansively than the limited definition advocated by the
Department in order to facilitate victim participation. By statute in Hawaii,
victims must, upon request, be informed of “major developments” in any
felony case. 232 Along a similar vein, the prosecuting attorney must consult
or advise the victim about any plea negotiations. 233 Interestingly, however,
the Hawaii legislature defined “major developments” as “arrest or release of
the suspect by the police, case deferral by the police, referral to the
prosecutor by the police, rejection of the case by the prosecutor, preliminary
hearing date, grand jury date, trial and sentencing dates, and the disposition
of the case.” 234 The usage of the term “case” and the plain language of the
provisions demonstrate that victims in the State of Hawaii are entitled to a
notification right and a possible consultation right long before formal
charges are filed.
227 ARIZ. REV. STAT. ANN. § 13-4401(6) (2010) (emphasis added); see State ex rel.
Thomas v. Klein, 150 P.3d 778, 780–81 (Ariz. Ct. App. 2007) (noting the original version
defined a criminal offense as a violation of a statute).
228 Under Arizona law, the “rights and duties that are established by this chapter arise on the
arrest or formal charging of the person or persons who are alleged to be responsible for a criminal
offence against a victim.” ARIZ. REV. STAT. ANN. § 13-4402(A) (2010) (emphasis added).
229 ARIZ. REV. STAT. ANN. § 13-4419(A) (2010).
230 See ARIZ. REV. STAT. ANN. § 13-4402.01(A).
231 It appears, however, that the criminal proceeding may have been parallel to the civil
forfeiture proceeding. See State v. Lee, 245 P.3d 919, 923–24 (Ariz. Ct. App. 2011).
232 HAW. REV. STAT. ANN. § 801D-4(a)(1) (LexisNexis 2007).
233 See id.
234 Id. § 801D-2.
100 CASSELL ET AL. [Vol. 104
Other states also expressly extend rights before the filing of charges.
Colorado guarantees rights at “all critical stages of the criminal justice
process[,]” which includes both the filing of charges and the decision to not
file charges. 235 In Missouri, victims have the right:
on charged cases or submitted cases where no charge decision has yet been made, to
be informed by the prosecuting attorney of the status of the case and of the availability
[of different forms of compensation and assistance] and of any final decision by the
prosecuting attorney not to file charges. 236
In New Jersey, officials typically send a letter informing the victim “that the
case has been referred to the prosecutors’ office and explains and offers the
services available from the country office of victim-witness advocacy.” 237
Subsequent letters to the victim ensure that the victim has notice of a series
of decisions long before indictment, 238 and the office actively solicits
information in order to “help the prosecutor’s office decide whether or not
to prosecute a case.” 239 Along a similar vein, the Massachusetts legislature
included a provision that makes it clear that nothing should prevent a
prosecutor from providing victim services to persons injured by the
commission of a crime, even though a complaint or indictment has not yet
been issued. 240
In addition to extending rights before the filing of charges, several
states require consultation before the prosecutor reaches a plea agreement
with the defendant. For example, Idaho’s statute provides that a victim
must be given an opportunity “to communicate with the prosecution in
criminal or juvenile offenses, and be advised of any proposed plea
agreement by the prosecuting attorney prior to entering into a plea
agreement in criminal or juvenile offenses involving crimes of violence, sex
235 COLO. CONST. art. II, § 16a; COLO. REV. STAT. § 24-4.1-302(1) (2013). But see COLO.
REV. STAT. § 24-4.1-302.5(1)(f) (2012) (limiting conferral right, in particular, to later stages
of a criminal proceeding). Despite these limitations on the conferral right, victims retain the
ability to be heard at any hearing involving a plea. See id. § 24-4.1-302.5.
236 MO. ANN. STAT. § 595.209(10) (West 2011).
237 OFFICE OF VICTIM-WITNESS ADVOCACY, N.J. DEP’T OF LAW & PUB. SAFETY, A CRIME
VICTIM’S GUIDE TO THE CRIMINAL JUSTICE SYSTEM 4 (2d ed. 1997); see also N.J. CONST. art. I,
§ 22. Compare 18 U.S.C. § 3771 (2012), with N.J. STAT. ANN. § 52:4B-36 (West 2009). In
addition to the rights similar to the federal legislation, New Jersey law provides for the right
“[t]o be advised of case progress and final disposition and to confer with the prosecutor’s
representative so that the victim may be kept adequately informed . . . .” Id. § 52:4B-36(k).
238 See OFFICE OF VICTIM-WITNESS ADVOCACY, supra note 237, at 4 (including pre-grand
jury remand, administrative dismissal, grand jury remand, grand jury dismissal, and
indictment returned).
239 Id. at 26 (describing victim involvement at grand jury and arraignment stages of the
proceeding).
240 See MASS. ANN. LAWS ch. 258B, § 2 (LexisNexis 2004).
2014] CRIME VICTIMS’ RIGHTS 101
crimes or crimes against children.” 241 In Indiana, the plain language of its
statute leaves open the possibility of a conferral right before formal charges
to the extent that the statute includes two separate time frames: “after a
crime . . . has been charged” or “before any disposition of a criminal case
involving the victim.” 242
To be sure, not all states have afforded victims a voice throughout the
entirety of the criminal justice process. 243 In some states, the statutes are
ambiguous. 244 In a handful of states, there is clear language limiting rights
until after the filing of charges. For example, Louisiana constrains the
conferral right to criminal matters “in which formal charges have been filed
by the district attorney’s office.” 245 Yet, unlike the federal CVRA, this
statute specifically excludes pre-charging situations. And, in any event,
despite Louisiana’s limitation on a particular right within the statute, the
legislature in this state still often saw fit to provide the victim with
notification rights, even in the absence of the formal filing of charges. 246
Very few state courts have ever considered the precise issue of
whether conferral rights may attach prior to the formal filing of charges.
This is likely caused by the fact that, unlike the federal statute, many state
statutes fail to provide the victim with a procedural mechanism for
challenging the conduct of prosecutors or law enforcement agencies. 247
However, in rare cases, state courts have implicitly recognized that a
meaningful interpretation of victims’ rights should include some rights prior
to filing.
For example, a Connecticut court concluded that a company injured by
the delinquent act of a minor was entitled to information about the case
241 IDAHO CODE ANN. § 19-5306(1)(f) (2004). As in the case of most of the state
statutes, the Idaho statute is not without ambiguity. A different provision within the statute
makes the notification right contingent “[u]pon the filing of a criminal complaint or juvenile
petition . . . .” Id. § 19-5306(2).
242 IND. CODE ANN. § 35-40-5-3(b) (West 2012); id. § 35-40-1-1 (failing to define “case”).
243 See, e.g., MD. CONST. art. 47(b) (“In a case originating by indictment or information
filed in a circuit court, a victim of crime shall have the right to be informed . . . .”).
244 In Delaware, for example, the statute contains an additional limitation in the conferral
provision that is noticeably absent from the duty imposed on law enforcement to provide
information about the victim’s rights to that victim. Compare DEL. CODE ANN. tit. 11,
§ 9405 (2007), and DEL. CODE ANN. tit. 11, § 9411 (2007) (imposing additional
requirements after the Attorney General commences the prosecution), with DEL. CODE ANN.
tit. 11, § 9410 (2007). Query whether the limitations imposed in one section should be
inferred in the other under the doctrine of expressio unius est exclusio alterius.
245 LA. REV. STAT. ANN. § 1844(D)(1) (2010).
246 See id. § 1844.
247 See generally Douglas E. Beloof, The Third Wave of Crime Victims’ Rights:
Standing, Remedy, and Review, 2005 BYU L. REV. 255, 300–23 (discussing problems with
remedies in victims’ rights statutes).
102 CASSELL ET AL. [Vol. 104
contained in a police file in a civil proceeding, even though it appears that
there was little indication that criminal charges had been filed. 248 Similarly,
the South Carolina Supreme Court, while limiting the ability of the victim
to challenge the conduct of a prosecutor, concluded that the same rights
under the state constitution must attach prior to the formal filing of an
indictment. 249 Other courts have even permitted a victim to recover
compensation or reparations for unindicted or acquitted conduct. 250
In other words, while few state judiciaries have addressed the precise
timing of state crime victims’ rights, those that have addressed the question
have typically found that the rights do extend to pre-charging situations.
Despite the relative dearth of state court cases, it is worth noting that
most state statutes unequivocally provide for notification rights early in the
criminal process. 251 For example, the Illinois statute imposes a limited duty
on law enforcement agencies to keep victims informed of the status of an
investigation until the accused is apprehended or the agency discontinues
the investigation. 252 Similarly, law enforcement agencies in Iowa must
keep the victim apprised of the investigation “until the alleged assailant is
apprehended or the investigation is closed.” 253 Michigan’s statute requires
law enforcement to provide information within a mere twenty-four hours of
contact between the agency and the victim. 254
In sum, while state law on crime victims’ rights before charging is not
fully developed, what law exists tends to support the position that crime
victims deserve rights before the formal filing of charges. This law fits the
long-standing trend in states toward expanding protections for crime
248 See In re James B., Jr., 714 A.2d 735 (Conn. Super. Ct. 1998).
249 See Ex parte Littlefield, 540 S.E.2d 81, 85 (S.C. 2000).
250 See Kimberly J. Winbush, Annotation, Persons or Entities Entitled to Restitution as
“Victim” Under State Criminal Restitution Statute, 92 A.L.R. 5TH 35, 35 (2001) (recounting
cases in which unnamed victims were entitled to restitution).
251 See, e.g., MINN. STAT. ANN. § 611A.0315(a) (West 2009) (requiring a prosecutor to
“make every reasonable effort to notify a victim of domestic assault . . . or harassment that
the prosecutor has decided to decline prosecution of the case” but providing the right to
participate in proceedings to circumstances in which the offender has been charged).
252 See 725 ILL. COMP. STAT. ANN. 120/4.5 (2008).
253 IOWA CODE ANN. § 915.13(1)(f) (West 2003).
254 See MICH. COMP. LAWS ANN. § 780.753 (West 2007). Michigan’s conferral right is
particularly ambiguous, because the notification requirement imposed upon the prosecuting
attorney contains a time limitation (after arraignment), but the legislature did not include an
express time limitation on the conferral right. See MICH. COMP. LAWS ANN. § 780.756(3)
(West 2007) (requiring the victim have the opportunity to consult prior to “any negotiation
that may result in a dismissal, plea or sentence bargain, or pretrial diversion”); see also MISS.
CODE ANN. § 99-43-7(1) (2007) (imposing a requirement on law enforcement officials to
notify a victim within seventy-two hours).
2014] CRIME VICTIMS’ RIGHTS 103
victims. 255 The decision by state legislators to extend notification or
conferral rights to crime victims demonstrates an express recognition that
crime victims’ meaningful participation in the criminal justice process may
involve granting those victims rights before indictment.
CONCLUSION
Crime victims have important rights at stake in the criminal justice
process, even before prosecutors formally file criminal charges. It is hardly
surprising, therefore, to find that a federal law that Congress in fact
designed to create “broad and encompassing” rights for victims protects
victims during a criminal investigation. As this Article has explained,
interpreting the CVRA to cover crime victims during the pre-charging
phase of a case is consistent with the statute’s purposes, text, legislative
history, and interpretive case law. And state criminal justice systems also
appear to be moving in that direction.
The Justice Department’s contrary interpretation seems unlikely to
prevail when challenged. The CVRA signals a paradigm shift in the way
that crime victims are to be treated, at least within the federal criminal
justice system. Before enactment of the law, federal investigators and
prosecutors might have been able to keep victims at arm’s length, refusing
to confer with them about the case and otherwise ignoring or even
mistreating them during the process. But those days are over. The CVRA
promises victims that they now have the right to confer with prosecutors
and the right to be treated fairly while their cases are investigated. It is time
for the Department of Justice to recognize and embrace that new reality.
255 See Jeffrey A. Parness et al., Monetary Recoveries for State Crime Victims, 58 CLEV.
ST. L. REV. 819, 850 (2010); Tobolowsky, supra note 221, at 59 (describing a “significant
expansion of victim rights to be consulted by the prosecutor and heard by the court”).
104 CASSELL ET AL. [Vol. 104
"
IMAGES-011-HOUSE_OVERSIGHT_031657.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 2/8/2017 5:24:07 AM
To: Larry Summers
Subject: Re:

Importance: — High

Obama or trump or yours
On Wed, Feb 8, 2017 at 12:03 AM Larry Summers <q wrotc:
It's ok.
He didn't wreck world and avoided scandal.
What does Ruemmler say re his attitude towards women?
Sent from my iPad

Please direct all scheduling inquiries to my office at: TTT

Follow me on twitter @lhsummers
www.larrysummers.com

On Feb 7, 2017, at 1:30 PM, jeffrey E. <jeevacation@gmail.com> wrote:

your man of the people
http://www.usatoday.com/story/news/nation-now/2017/02/07/president-barack-obama-kiteboards-horses-

around-richard-branson-epic-vacation/97592260/

On Mon, Feb 6, 2017 at 9:17 AM, Larry Summers i wrote:

Yes. In NYC actually.

Sent from my iPhone

Please direct all scheduling inquiries to my office (|

Follow me on twitter @lhsummers
www.larrysummers.com

On Feb 6, 2017, at 8:14 AM, jeffrey E. <jeevacation@gmail.com> wrote:

speak 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

HOUSE_OVERSIGHT_031657
"
IMAGES-008-HOUSE_OVERSIGHT_025909.txt,"Atlantic House
Holborn Viaduct
London EC1A 2FG, United Kingdom

Tel:
Direct

Please consider the environment before printing this e-mail.

From: Kathy Ruemmler [mailto
Sent: Saturday, February 27, 2016 10:08 AM

To: Immelt, Stephen J.

Subject: Re: Follow up

Hi Steve,

Iam still intrigued and would like to meet Michael. I thinks it makes sense, though, for us to have a more
specific conversation about compensation before I meet with him. I don't want to put the cart before the horse,
but as I mentioned, this would be a big move for me, and it would have to make sense economically in addition
to being the right move for other reasons we have discussed.

I hope you are well. Cannot believe that Christie endorsed Trump!

Best,

Kathy

Sent from my iPad

On Feb 25, 2016, at 5:23 AM, Immelt, Stephen J. PO wrote:

Kathy

I don't want to pester you, but in the hope that you are still intrigued, I wanted to suggest that we try to set up an
opportunity for you to meet Michael Davison, our global head of litigation. MlIchael is an International
Arbitration specialist based in London and a key player. He is also a lot of fun, notwithstanding his Scottish
upbringing.

Let me know.
Best,

Steve

HOUSE_OVERSIGHT_025909
"
IMAGES-009-HOUSE_OVERSIGHT_026849.txt,"From: Darren Indyke

Sent: 5/20/2016 3:54:08 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fwd: Tweet from steven hoffenbergw (@stevenhoffenber)

Importance: — High

Sent from my iPhone

Begin forwarded message:

From: steven hoffenberg <>

Date: May 19, 2016 at 11:04:10 PM EDT
To:
Ce: Alan Fraade >

Subject: Fwd: Tweet from steven hoffenbergw (@stevenhoffenber)

DARREN INDYKE ESQ.

JEFF EPSTEIN IS AT HOME IN NEW YORK CITY HAVING SEX WITH UNDERAGE GIRLS TO

GET READY FOR ,

HOFFENBERG VS JEFF EPSTEIN LAW SUIT IN FRONT OF FEDERAL COURT JUDGE ROBER
T SWEET SDNY VERY SOON !!!!!! PONZI CRIMES AT TOWERS FINANCIAL BY JEFF
EPSTEIN & STEVEN HOFFENBERG .

JEFF EPSTEIN WILL FACE THE PONZI CRIMES IN THE ABOVE LAW SUIT VERY SOON.

YOU ARE CRAZY FOR NOT SETTLING THE ABOVE CASE RIGHT NOW WITH THE TOWERS
VICTIMS WHO YOU DID LEGAL WORK FOR WITH ROBERT GOLD ESQ.

THINK NOW AS THE ABOVE LAW SUIT FINAL DRAFT MAY BE READY TO FILE NEXT W
EEK .

PLEASE ASK JEFF EPSTEIN TO STAY AT HIS HOME
IN NYC FOR THE LAW SUIT SERVICE ON JEFF EPSTEIN BY THE PROCESS SERVER WHO
WILL BE AT 9 EAST 71 STREET NYC TO SERVE JEFF EPSTEIN VERY SOON.

TOTAL COVERAGE OF THE LAW SUIT WILL BE PICKED UP BY ALL OF THE MEDIA AT T
HE FEDERAL COURT IN NEW YORK CITY.

HAVE A NICE DAY MR INDYKE

Steven J. Hoffenberg
New York Post Publishing INC.

HOUSE_OVERSIGHT_026849
"
IMAGES-004-HOUSE_OVERSIGHT_016680.txt,"Ee
—
TABLE OF CONTENTS
PRECUTIVE SUTIIGARY cceus ++ cnsmccmnn » 5 naccmorcne » 1 osemmnen & 5 semsmmeenaen & mec + 4 ae 1
INTRODUCTION......... 0c cece eee ee cece sence nee e eee eea eee saeseeeeeeeeesaeeaseneaeeeeesanensonens 2
CITY OF WEST PALM BEACH’S DRINKING WATER
MONITORING PROGRAMG...........:c:cceeeeeeee esse een e eens eee eea ee eseeeeenneneae 3
POINTS OF ENTRY FOR THE CITY’S DELIVERY OF DRINKING WATER
TESS THE TS Necssasces : cscaceccne ss causes & « omens « x orem manors & x amemeneonen 5 4 aed 4
SAMPLING AND ANALYSIS OF THE DRINKING WATER PRODUCT
DELIVERED TO THE TOW as: scssxnsins «1 annie «+ ecmmmimnes a aamniimmsins «9 anime 0 & 5
RESULTS FROM INDEPENDENT ANALYSIS OF
THE CITY’S DRINKING WATER PRODUCT. ..........:.:cceeeeeeeeeeeeeeneeeenees 5

COMPARISON TO RECENT CITY MONITORING PROGRAM RESULTS........ 6
APPLICATION OF DISINFECTION CHEMICALS, BYPRODUCTS,

AND THE EFFECT ON TASTE
8) |. 7

FIGURES

FIGURE 1 Site Location Map

TABLES

TABLE1 Test Results Comparative to Regulatory Acceptable Maximum Limits
per Chapter 62-550, Florida Administrative Code

APPENDICES

APPENDIX A_ Laboratory Report of Test Results

HOUSE_OVERSIGHT_016680
"
IMAGES-010-HOUSE_OVERSIGHT_029451.txt,"campaign that | liked everything about him except Michelle. People would be all up
in my face—what are you talking about? Michelle is beautiful, she is wonderful.
Precisely my point, I would say, why does he get to be President AND have Michelle?
It isn’t right!

HOUSE_OVERSIGHT_029451
"
IMAGES-010-HOUSE_OVERSIGHT_028997.txt,"Applications under development

¢ Mobile application for shoppers to ask questions about products and
services — our Output will be based on opinion of people on social media.

¢ Analyze and predict crime

HOUSE_OVERSIGHT_028997
"
IMAGES-001-HOUSE_OVERSIGHT_010606.txt,"113. In his deposition, Epstein took the Fifth rather than answer the question: “How
many minors have you procured for prostitution?” Jd. at 104.

114. In his deposition, Epstein took the Fifth rather than answer the question: “Have
you ever coerced, induced or enticed any minor to engage in any sexual act with you?” Jd. at
107.

115. In his deposition, Epstein took the Fifth rather than answer the question: “How
many times have you engaged in fondling underage females?” /d. at 108.

116. In his deposition, Epstein took the Fifth rather than answer the question: “How
many times have you engaged in oral sex with females under the age of 18?” Jd. at 110.

117. In his deposition, Epstein took the Fifth rather than answer the question: “Do you
have a personal sexual preference for children?” Jd. at 111-12.

118. In his deposition, Epstein took the Fifth rather than answer the question: “Your
Complaint at page 27, paragraph 49, says that ‘RRA and the litigation team took an emotionally
driven set of facts involving alleged innocent, unsuspecting, underage females and a Palm Beach
billionaire, and sought to turn it into a goldmine,’ end of quote. Who is the Palm Beach
billionaire referred to in that sentence?” /d. at 112-13.

119. Inhis deposition, Epstein took the Fifth rather than answer the question: “Who are
the people who are authorized to make payment [to your lawyers] on your behalf?” Jd. at 120.

| 120. In his deposition, Epstein took the Fifth rather than answer the question: “Is there
anything in L.M.’s Complaint that was filed against you in September of 2008 which you

contend to be false?” Id. at 128.

41

HOUSE_OVERSIGHT_010606
"
IMAGES-001-HOUSE_OVERSIGHT_011518.txt,"Looking more closely, I saw a wooden box, the kind we used in Mishmar
Hasharon to crate oranges. It was filled with hay. At first, I thought the stirring
inside was a family pet. Then, I saw it was a baby. I said nothing until we had
left. “Was that really a child?” I asked Yigal. “A baby?” He replied, with a tinge
of sadness but also a look that seemed to convey surprise at my naivety: “Yes.
They don’t have room for him.”

My evolving feelings about the Arabs, the other people with dreams of what
they still saw as Palestine, would become more complex as my childhood drew
to an end. As mentioned, I barely registered the fate of the absent villagers of
Wadi Khawaret.

And yet as I got older — in my teens — I came to understand why the
Palestinians were fighting us. Before the 1956 war, Dayan gave a brief speech
that had a powerful impact on me. It was a eulogy, but it was for someone
Dayan didn’t know personally. His intended audience was the rest of the
country. He spoke in Nahal Oz, a kibbutz on the border with Gaza often
targeted by fedayeen. In April 1956, a group of Arabs crossed from Gaza and
began cutting down the wheat in Nahal Oz’s fields. The kibbutz security officer,
a 21-year-old named Roi Rotberg, rode out on horseback to chase them away.
The intruders opened fire as soon as he got close. They beat him, shot him dead
and took the body back over the armistice line. The corpse was returned,
mutilated, after an Israeli protest through the UN.

With Israeli newspapers full of agonized accounts of what had happened,
Dayan’s message was that we should not blame the Arabs for Roi Rotberg’s
death. We should look at ourselves, and the neighborhood in which we lived.
“Why should we talk about their burning hatred for us?” he asked. “For eight
years, they have been sitting in the refugee camps of Gaza, while before their
eyes we have been transforming the lands and the villages where they and their
fathers dwelt.” Of course, they hated us and the state we were building. Rotberg
had allowed his “yearning for peace to deafen his ears, and he did not hear the
voice of murder waiting in ambush.” Dayan said the danger was that other
Israelis had become similarly naive. “How did we shut our eyes, and refuse to
see, in all its brutality, the destiny of our generation?” A generation which was

47
HOUSE_OVERSIGHT_011518
"
IMAGES-010-HOUSE_OVERSIGHT_030100.txt,"sold the bank a “bill of goods,” arguing that despite promises to Emirates, the technology never worked and
InfoSpan wasn’t as big a company as it claimed.

The bank cancelled the deal and filed a criminal complaint, not as a form of extortion but simply to regain the
bank’s money after it was misled and doubts grew about the character of InfoSpan’s employees, Ruemmler told
the jury.

“They concluded, definitively, that they had been defrauded,” she said.

Lubna Qassim, group general counsel for Emirates Bank, said in a statement after the verdict that ""Emirates
Bank is gratified by today's decision and the opportunity to receive a fair trial in U.S. courts.""

Bajwa said the trial has taken a toll on him and he doesn’t know his next steps.

“T am just beat up,” he said.

Phil Hirschkorn contributed to this report.

a
Copyright © 2016, Los Angeles Times<http://www.latimes.com/>

Frank Pizzurro
Public Relations Senior Manager

LATHAM & WATKINS LLP

355 South Grand Avenue | Los — CA 90071-1560

This email may contain material that is confidential, privileged and/or attorney work product for the sole use of
the intended recipient. Any review, reliance or distribution by others or forwarding without express permission
is strictly prohibited. If you are not the intended recipient, please contact the sender and delete all copies.

Latham & Watkins LLP

HOUSE_OVERSIGHT_030100
"
TEXT-002-HOUSE_OVERSIGHT_033156.txt,"From: 
Sent: 5/27/2011 4:34:44 PM 
To: Je vacation [jeevacation@gmail.com] 
CC: Rich Kahn 
Subject: B727 
; Darren lndyke 
Trump's 6727 sold for 2.7M,. 
Sean very discussed with me this company was interested, unless he call you,. 
From Sean: 
This buyer did have specs on your aircraft. They were looking at a 3.0 million budget but did not make 
an offer and it was too low. We did discuss it 
Best regards, 
Sent via BlackBerry by AT&T 
HOUSE OVERSIGHT 033156 
"
IMAGES-005-HOUSE_OVERSIGHT_019844.txt,"| | Epst_9780451494566_2p_all_r1.indd 356 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019844
"
IMAGES-002-HOUSE_OVERSIGHT_013809.txt,"This book will teach you the precise principles I have used to become the following:

e » Princeton University guest lecturer in high-tech entrepreneurship

e » First American in history to hold a Guinness World Record in
tango

e » Advisor to more than 30 world-record holders in professional and
Olympic sports

e » Wired magazine’s “Greatest Self-Promoter of 2008”

e > National Chinese kickboxing champion

e » Horseback archer (yabusame) in Nikko, Japan

e > Political asylum researcher and activist

e » MI'V breakdancer in Taiwan

e > Hurling competitor in Ireland

e » Actor on hit TV series in mainland China and Hong Kong (Human
Cargo)

How I got to this point is a tad less glamorous:

1977 Born 6 weeks premature and given a 10% chance of living. I survive instead and grow so fat that
I can’t roll onto my stomach. A muscular imbalance of the eyes makes me look in opposite directions,
and my mother refers to me affectionately as “tuna fish.” So far so good.

1983 Nearly fail kindergarten because I refuse to learn the alphabet. My teacher refuses to explain
why I should learn it, opting instead for “I’m the teacher—that’s why.” I tell her that’s stupid and ask her
to leave me alone so I can focus on drawing sharks. She sends me to the “bad table” instead and makes
me eat a bar of soap. Disdain for authority begins.

1991 My first job. Ah, the memories. I’m hired for minimum wage as the cleaner at an ice cream

HOUSE_OVERSIGHT_013809
"
IMAGES-005-HOUSE_OVERSIGHT_018582.txt,"by text message. We discussed etymology, traded literary recommendations, compared
religion -- I'm Unitarian, he’s a Baha'i convert. He lived one summer in Chicago, and we
discovered that we'd shopped at the same bookstores.

One night, we found ourselves in the same nightclub. Using a cigarette as an excuse to go
outside, we abandoned the music and talked for hours. Our friends came to check on us
multiple times, with varying degrees of smirking insinuation; we kept promising to go
back in after one cigarette, then neglecting to actually smoke it. The conversation went
through homesickness, ethics, roleplaying games, more literature. I lent him a book. He
promised to visit me.

His next text message, a few days later, was plainly nervous. Can you imagine someone
blurting a text message? That's what he did when he told me that he takes the ""no sex
before marriage” part of his Baha'i faith seriously. I was stunned -- but I had to laugh,
too. Of course Miss Clarisse Thorn, pro-sex advocate, just had to fixate on a man who
wouldn't sleep with her!

KK ok

I did not undergo abstinence-only sex education. My middle school's health teachers were
admirably forthright and even hosted condom demonstrations in the auditorium, more
power to 'em. I also had the good fortune to be raised Unitarian -- so I received incredibly
compassionate, complete sex education in Sunday School.

Still, for a long time I was strongly attracted to chastity. In my teens, I decided that I
wouldn't lose my virginity until I was much older -- I think I picked age 25 -- because I
wanted to be sure I'd be mature enough to handle it. This resolution didn't last, but after I
became sexually active, I occasionally came back to the idea. A few female friends took
""time off"" -- in some cases, full years of abstinence. I considered doing so myself,
strongly and for a long time.

Back then, I was terrible at communicating about sex. Reading explicit sex scenes made
me feel anxious, perhaps because I felt they set standards I couldn't ""perform."" Talking
explicitly to my partners felt impossible, not least because I had practically no idea what I
wanted. Worst of all, I could feel the societal boxes around my sexuality, but I couldn't
articulate them. Plus, there were dark undercurrents to my sexuality that simply scared
me. Abstinence was the only obvious way around my sex-negative cultural baggage!

Once I adjusted into my BDSM orientation, once I got a grip on how to circumvent some
problems with how Americans tend to think about sex, once I experienced mutual sexual
communication that was totally trusting and adventurous... my attraction to chastity was
greatly reduced. These days, the idea only seems awesome when (a) I've just been
romantically burned, or (b) I want more time to myself.

It's tempting to think that Mr. Chastity might be the same way: that he's uncomfortable
for similar reasons; that he'll ""get over it."" Tempting -- and offensively presumptuous.
Maybe he'll re-examine his motives someday, and maybe he won't. The important thing is
to respect his feelings. So when he sent me that text, I did what any responsible sex-
positive girl ought to do: I honored his boundaries and thought seriously about whether I
could work within them.

HOUSE_OVERSIGHT_018582
"
IMAGES-011-HOUSE_OVERSIGHT_032438.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_032438
"
IMAGES-010-HOUSE_OVERSIGHT_029337.txt,"9. Jeff N. Epstein, PhD

www.cincinnatichildrens.org/bio/e/jeff-epstein/
Jeff N. Epstein, PhD, is the director of the Center for ADHD and a professor of pediatrics for the Division of
Behavioral Medicine and Clinical Psychology at ...

10. Katie Couric, Woody Allen: Jeffrey Epstein's Society Friends Close ...

www.thedailybeast.com/.../bill-clinton-katie-couric-woody-allen-jeffr...
Apr 1, 2011 — Despite the pedophile mogul's conviction for soliciting underage prostitution, his circle is

standing by their man. Scientists whose research ...
Searches related to jeffrey epstein

jeffrey epstein scandal

jeffrey epstein net worth
jeffrey epstein disney

jeffrey epstein vanity fair
jeffrey epstein forbes

jeffrey epstein plastic surgeon
jeffrey epstein rhinoplasty
jeffrey epstein hair transplant

a

SS

eee]

HOUSE_OVERSIGHT_029337
"
TEXT-002-HOUSE_OVERSIGHT_032248.txt,"From: Kathy Ruemmler 
Sent: 3/18/2016 3:57:38 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Patterson 
Importance: High 
On the shuttle back to NYC. About to take off 
Sent from my iPhone 
On Mar 18, 2016, at 11:41 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
----------Forwarded message---------- 
From: Michael Wolff < 
Date: Fri, Mar 18, 2016 at 11:39 AM 
Subject: Patterson 
To: Jeffrey Epstein <j eevacation@gmail.com> 
A few things to think about: 
If the Patterson book is being published in August, that presents some time frame issues. You would not be able 
to do a competing book or documentary before then. This is not to say that they shouldn't be pursued. In a 
sense, better that they know what Patterson's position is and, a year from now say, be able to counter it. I have 
some thoughts on book and doc to share at your convenience. 
That being said, you do need an immediate counter narrative to the book. I believe Trump offers an ideal 
opportunity. It's a chance to make the story about something other than you, while, at the same time, letting you 
frame your own story. Also, becoming an anti-Trump voice gives you a certain political cover which you 
decidedly don't have now. Still, this necessary involves you going public. And so the most basic decision is 
about your willingness to do that. My view is that in a couple of weeks you could master message and technical 
proficiency. I know a bunch of people who could be very helpful here. This would involve something along the 
lines of you writing an op-ed, doing a high profile television interview (Charlie Rose, I'd say), and perhaps 
some social media efforts. 
Speaking of which, again, I think a strategic plan, involving your public identity, philanthropic activities and 
interests, and the development of media allies, ought finally to be put in place. A big, comprehensive, expensive 
effort. 
The alternative is to continue to keep head down and hope Patterson book is just more he-said she-said and 
Connolly getting lost in the reeds (which, as an inveterate conspiracist, he always does). My worry is that 
Patterson can be counted on to produce a bestseller, and while he isn't regarded as a serious writer, he'll surely 
be unloading a lot of tabloid copy. Because this will be tied to the election, the Trump-Clinton angle will amp 
up the attention 10-fold, in fact, possibly, a hundred fold. Possibly more than anything you've encountered 
before. 
Meanwhile--
HOUSE OVERSIGHT 032248 
In a lawyer's letter, I'd suggest including the following points--not necessarily legal, but a warning about how a 
press campaign might unfold (publishers are more worried about being caught in negative media controversy 
than they are of legal threats): 
1) Little, Brown has made on the record representations to at least one well-known journalist that it was not 
publishing a book by James Patterson about Jeffrey Epstein--possibly an effort to avoid inquiries about the 
questionable nature of the book; 
2) The actual author of the book, John Connolly, is someone other than the stated author, James Patterson. 
Connolly is known to have developed an obsession with Epstein, such that, his longtime employer, Vanity Fair, 
has refused to allow him to write about Epstein for the magazine; 
3) Sources have confirmed for us that Patterson has had little more than a minimal consulting role in the book, 
and that Connolly has functioned in every material way as the book's researcher and writer. We believe 
Patterson's ""authorship"" of the book will not stand up to scrutiny. And, indeed, that the entire notion of an 
extension of the Patterson franchise into nonfiction, as it has been used in fiction and children's book--
effectively other authors writing under the Patterson name—presents a host of journalism ethical issues. 
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 032249 
"
IMAGES-003-HOUSE_OVERSIGHT_015831.txt,"Knowledge 141

You might argue we could devise a more sophisticated mechanical
filter, something that contains an algorithm with an understanding of the
rules of language. The problem is both the size of the task and the nature
of understanding. If I devised some really good appreciation algorithm
which did not delete all the creative words of the English language, it
would still have to read and appreciate the huge quantities of input until
it hit upon something good. There is no way for any machine to read
all this information in the age of our Universe; the numbers are just too
large. And there is no way for a machine to understand all the rules of
language, they are not written down and constantly evolve.

These descriptions should give you an intuitive feel for nature of the
creative problem. If you try to deconstruct it into mechanical steps you
end up with either a mechanism that needs to be infinitely specified or
one that lets through an infinite quantity of nonsense. A human could
never sift through all that garbage to find the occasional pearl of wisdom.

Until the beginning of the 20"" century, most people thought
knowledge and creativity must be just a matter of scale. A big enough,
fast enough machine should be able to solve any problem. But early in
the 1930s two mathematicians — Kurt Godel and Alan Turing — showed
knowledge was not so simple. Let me give you a feel for why.

Knowing When You Know

The essence of creating knowledge, is to know when you have done so.
In a sense, counting from one to infinity means I know everything, and
merely counting to 50 million creates every piece of significant symbolic
knowledge that will ever be written — all the books, plays, mathematical
theorems you could possibly want. But, if I were to list all these numbers
in an enormous imaginary book it would hardly constitute knowing
everything: I would be awash with numbers but not with knowledge.

The essential feature of ‘knowing’ is to have a small number of steps
that will definitely answer a problem. For example, if I wish to phone
someone I can look up their details on my phone. The process will tell
me their number in two or three steps. If you tell me the number is
somewhere in the phone book this is not knowledge. It could mean I
need an infinite number of steps.

If I accidentally deleted all the names in my phone - a nightmare
scenario — and just had a print out of numbers would I still ‘know’ them?
Obviously I would recognize my mother’s number, but most of them
would be useless. To know something, I need link the information to
what it is for. A number with a name allows me to predict what will

HOUSE_OVERSIGHT_015831
"
IMAGES-012-HOUSE_OVERSIGHT_032680.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_032680
"
IMAGES-011-HOUSE_OVERSIGHT_031131.txt,"VVVVVVVVVVVVVVVV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV

There are actually two messages here. The first is very

interesting, but the second is absolutely astounding - and explains a_ lot.

A recent ""Investor's Business Daily"" article provided very
interesting statistics from a survey by the United Nations International
Health Organization.

Percentage of men and women who survived a cancer five years after diagnosis:

U.S. 65%
England 46%
Canada 42%

Percentage of patients diagnosed with diabetes who received
treatment within six months:

U.S. 93%
England 15%
Canada 43%

Percentage of seniors needing hip replacement who received it
within six months:

U.S. 90%
England 15%
Canada 43%

Percentage referred to a medical specialist who see one within
one month:

U.S. 77%
England 40%
Canada 43%

Number of MRI scanners (a prime diagnostic tool) per million

people:
U.S. 71
England 14
canada 18

Percentage of seniors (65+), with low income, who say they are
in ""excellent health"":

U.S. 12%
England 2%
Canada 6%

HOUSE_OVERSIGHT_031131
"
TEXT-002-HOUSE_OVERSIGHT_031999.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 1/12/2010 11:18:58 AM 
To: Peggy Siegal 
Subject: Re: My Wall Street 2 Story 
sorry you are sick, go slow., no cleaning, stay in bed.. sorry.. 
On Tue, Jan 12, 2010 at 6:17 AM, Peggy Siegal -________________________________wrote: 
Will call you later. I am sick as a dog with a cold. I am supposed to go to Dr. Magnani this morning for a cleaning. If you get a 
cleaning with a cold does it make it worse of just infect the dental hygenist? 
Had a great lunch for Woody Harrelson and Ben Foster for ""The Messenger"" at Monkey Bar yesterday and hung with Clooney at the 
New York Film Critics Awards last night. Tonight is the National Board of Review and I am thinking of staying in bed till show 
time. Have a party for Clooney Wednesday nigh Graydon is hosting at Monkey Bar that we are working on. 
I have to fly to LA Jan. 14 and I am worried.. .1 have emailed three doctors this morning! 
Will call later...Mattie keeps saying she is going to show me how to email photos- will try to do today and call. 
I think I got sick in economy class from Lamu, Nairobi, Amsterdan, Newark from all those wanna be terrorists breathing on me in 
the planes. 
Did you see ""Avator"". I do not have a dvd because its 3D. 
The white American marines are wiped out by black people painted blue... its going to be highest grossing film in the world is an 
few weeks beating out ""Titanic"" and will win the Oscar for ""Best Picture."" 
xoxo Peg 
-----Original Message----- 
From: Jeffrey Epstein <jeevacation@gmail.com> 
To: Peggy Siegal 
Sent: Mon Jan 11 19:28:25 2010 
Subject: Re: My Wall Street 2 Story 
terrific. i want to hear more about the trip 
On Mon, Jan 11, 2010 at 6:32 PM, Peggy Siegal wrote: 
Wrote this for the February issue of AVENUE Magazine. Thought it would amuse you. Tell me what you think of it. 
xoxo Peggy 
HD: Wall Street, Take Two 
HOUSE OVERSIGHT 031999 
DEK: In the upcoming sequel to Oliver Stone's groundbreaking film, Gordon Gekko gets out of jail and back to business. Peggy 
Siegal takes us behind the scenes where she got herself on camera along with a few of her famous friends. Nice work if you can get 
it. 
In 1987, right after director Oliver Stone won the Academy Award for ""Platoon,"" he immediately turned to a domestic arena 
and began working on ""Wall Street"" in New York City where his father had been a stockbroker. Although the film was widely seen 
as a scathing critique of the culture of Wall Street, Stone has said that part of the film is a defense of capitalism, his father's vision of 
finance (as seen through the Hal Holbrook character) and an homage to his father. 
At the time Oliver was also fascinated with the connection between the psyche of Latino Miami drug dealers from his earlier 
""Scarface"" script and the American-born 28- to 35-year-old, white collar stockbrokers. Both groups had an animalistic need to obtain 
big and fast money. They shared an obsession with corruption and greed. 
Oliver sent his actors to Bear Stearns for research, including then-newcomer Charlie Sheen, who played Bud Fox, a kid from 
nowhere. When he learns to cold call, and lands one big client, Gordon Gekko, Fox is thrust into the fast lane with a rock star 
financial mentor who teaches him corruption. 
Oliver needed an old-fashioned villain to create drama, and he cast Michael Douglas as Gekko against type. Michael was not 
known as a heavy at the time, but as a charming, handsome, sensitive leading man. Oliver also saw the anger, confidence, 
salesmanship and style that Michael brought to the role. Michael's Gekko looked a bit like Laker's coach Pat Riley with his slicked 
back hair and well-cut suits, and it became Michael's most important role, winning him the Academy Award for the villain no one 
could ever forget. 
When Gekko delivers his speech, ""Greed, for lack of a better word, is good. Greed is right. Greed works,"" cinematic history was 
made. 
""Wall Street"" was set in 1985, a time before ten financial news networks broadcasting 24/7 existed. The entire financial services 
industry was largely unknown and Oliver Stone nailed it. 
Four years ago, Wall Street's producer Ed Pressman decided it was time for a sequel and met with Fox Film Entertainment co-
chairmen Tom Rothman and Jim Gianopulos. Michael Douglas was immediately on-board pending script approval. Steven Schiff 
wrote the first script before the global economic crash of 2008 rendered it obsolete. 
Alan Loeb was brought in for a rewrite. Pressman asked me to meet Loeb at the Carlyle Hotel to explain the social rhythms of 
New York's financial high society. Whereas Gekko 's character was modeled after '70s junk bond kings (Michael Milken) and '80s 
mergers and acquisitions killers (Henry Kravis), Loeb bases the new villain on hedge fund billionaires like John Paulson and Mike 
Novogratz, geniuses who have created stratospheric wealth beyond Gordon Gekko 's wildest dreams. When Oliver Stone agreed to 
direct, he rewrote a portion of the script to focus on bankers as well as hedge funders, taking no screen credit. 
This past September, Oliver yelled, ""action"" as Gordon Gekko, with long grey hair, comes back to life as he emerges from a 
lengthy prison stint shot outside of Sing Sing in Ossining, New York. Gekko is desperate to redefine himself in a different era. The 
New York Post runs a full-page photo of Gekko and New Yorkers immediately become obsessed with the filming of Wall Street 2. 
A week into shooting, a glorious fall day. Ed Pressman invites me on the set at the Central Park Zoo. Oliver designs an elaborate 
tracking shot around the seal pool where Gekko, fresh from jail, walks and talks to Jake Moore, a young idealistic investment banker 
played by Shia LaBoeuf. They discuss Gekko's daughter Winnie, Moore's fiancee, played by Carrie Mulligan, who is also having an 
off-screen romance with LaBoeuf. Oliver played Cupid. Moore invites Gekko to the Alzheimer's Ball at the Metropolitan Museum 
HOUSE OVERSIGHT 032000 
of Art. Gekko, who used to be a sponsor or honoree of such events, cannot even afford a ticket. 
The shot starts with a barking seal jumping for fish, then pans down to the actors. Extras weave in and out. In one take Michael 
makes a wrong turn and ends up at the monkey house. Everyone laughs. The atmosphere on the set is courteous but quick and tense. 
There is pressure when you are making a sequel to a hit. 
I watch the action on monitors while sitting on the producers canvas chairs with Pressman, Eric Kopeloff (""Monsters Ball"") and 
Celia Costas, who was a location manager on the first ""Wall Street."" They have asked me to be an extra in the Alzheimer's Ball scene 
and bring some friends to play rich Upper East Side socialites. Oliver wants over the top glam, go-to-the-vault jewels and couture 
gowns. ""Give me the night before the Titanic goes down,"" were his exact words. Not a problem. 
I pay a quick visit to Michael in his trailer on Fifth Avenue where he is resting. We go way back. I was his personal publicist 
when he won the Golden Globe and Oscar for Best Actor for ""Wall Street"" and we have remained great friends. Gekko is just as 
challenging for him the second time because of endless pages of technical financial dialogue. We discuss Catherine Zeta-Jones' 
Broadway debut in a ""Little Night Music."" Michael has a stack of partially finished handwritten thank you notes next to him for gifts 
received for their shared birthday party on September 25th at the St. Regis. Her 40th and his 65th. 
I tell him I have been cast as an extra in two scenes and he laughs knowing I am desperate to hang around him and the 
production. 
8:30 a.m. on Wednesday, October 21st, another warm, stunning fall day. I report to the wardrobe trailer on 65th Street and 
Madison Avenue. I carry four elaborate cocktail dresses and bags of matching accessories. My hair is in rollers. Statuesque Julia 
Koch walks over from her Park Avenue apartment carrying her white Valentino and long diamond earrings. Her real-life financial 
titan husband David is unaware where she is this morning. 
Vanity Fair's keeper of the Best Dressed List, Amy Fine Collins, arrives totally organized in turquoise vintage Geoffrey Beene, 
and Vogue's fashion editor Hamish Bowles wears a riot of plaids, patterns and a large yellow fake flower on his lapel. Costume 
Designer Ellen Mirojnick, who created Gordon Gekko's rich slick look in the first film, is ecstatic with the extras I invited. 
Oliver is shooting a scene with Josh Brolin (the star of Stone's ""W""). His character Bretton (never Bret) James, a ruthless Wall 
Street kingpin, and his perfect wife Samantha (Noelle Beck) are hosting a benefit piano recital for a 13-year-old child prodigy in their 
huge, art-filled townhouse at 41 East 65th Street. The building actually belongs to Baby Jane Holzer, a wealthy art collector still 
famous for hanging with Andy Warhol in the '60s. The production designer had Jane's fabulous Warhols moved to storage and 
replaced with matching photographic copies. Very expensive contemporary art is again an important production element of Oliver's 
vision. 
At 10:30 a.m., all the extras are placed around the living room set. Oliver's French mother, Jacqueline Stone, and her friend 
Monique Van Vooren, both in their 80s, are seated in front of the fireplace chatting in French. Production assistants fuss over them. 
Debonair macho man Chuck Pfieffer, who appeared in the original film, and I immediately invent a back story—I am his corporate 
wife—and we position ourselves on a couch next to the director's mother. Julia gets the best spot close to the piano and Amy, 
Hamish and decorator Geoffrey Bradfield are right behind her. Josh is brought in and the kibitzing stops. 
Oliver appears on the set with eagle eyes and a sly grin and quickly re-positions everyone. He explains the scene, gives out lines 
to his favored extras, and on his way out to the monitors in the next room mentions that my earrings are too small. Wardrobe 
jumps. Josh rehearses and Oliver finally yells, ""Action."" The kid plays the piano, Josh explains why we are in his home, asks for 
money, the camera dollies as extras say their lines and Shia appears at the door uninvited for a confrontation with Josh. Three hours 
later a PA yells, ""Lunch"". 
In costume, Amy, Hamish and I run to The Monkey Bar. I am late to meet ""The Harpies,"" including Liz Smith, Barbara 
Walters, Cynthia McFadden, Nora Ephron, Jennifer Isham, Maury Perl and Beth Kseniak. 
Graydon Carter is at the next table. I tell him Oliver Stone wants him in ""Wall Street 2"" as an extra. (I make this up.) Graydon 
jokes that he only works with lines. I say, ""Not a problem."" (This will be news to Oliver.) 
HOUSE OVERSIGHT 032001 
Back on the set I tell Oliver that Graydon is willing to be in the film with lines. Oliver finds that intriguing. 
Oliver shoots the piano recital scene over and over again from different angles all afternoon. Financial wizard Don Marron 
saunters on the set to visit and Oliver spontaneously puts him in a scene chatting with Josh. Carrie Mulligan hangs out watching 
boyfriend Shia work. 
At sundown Julia Koch has to race from reel to real life and explain to her husband where she has been all day. (He loves it.) 
Chuck Pfieffer plants a ""Page Six"" item and the next day socialites begin calling me to get into the film. 
Thursday, November 5, Shun Lee Restaurant, West 65th Street 
Oliver shoots a crowded tight interior scene with Michael, Carrie and Shia, who are having an intimate Chinese dinner. 
Spontaneously, Oliver decides this is the perfect scene for Graydon Carter. After a flurry of calls, Graydon arrives on set, and playing 
himself, sashays by the table. Gekko jumps up to say hello and Graydon brushes him off with a few dismissive lines. 
Monday, November 9, 25 Broadway 
One hundred swells show up at the former Canard Shipping building, a massive Italianate hall, at the crack of dawn for the 
Alzheimer's Ball, a grand charity event. 
Susan Hess and I are chauffeured downtown with our Vera Wang gowns and report to the VIP extra holding area where we join 
Prince Dimitri of Yugoslavia in a bespoke dinner jacket, journalist Christopher Mason, songstress Yanna Avis, photographer Kelly 
Klein, art dealer Larry Gagosian's girl friend Shala Monroque in see-through Rodarte, beauty executive Olivia Chantecaille, producer 
Lawrence Robins, author Jackie Weld Drake, Vogue film critic Joan Juliet Buck, fashion consultant Jill Fairchild, CNN's Felicia 
Taylor and Italian newsman Mario Calvo-Platero. 
Ellen Mirojnick and her costume department have assembled racks of the most expensive elaborate designer gowns and work at 
break neck speed styling while we wildly strip to our undies in a makeshift dressing area. Ellen pours me into a black tulle Marchesa 
with a enormous wired silver bow. Twenty hairdressers and make-up artists systematically work on 250 extras. A mile of tables are 
alternately filled with steaming coffee, fattening breakfast foods, hair sprays, mirrors, shoes and jewelry. It's a madhouse of 
excitement. 
We are led to the part of the set used for the cocktail reception and placed around Michael Douglas and Charlie Sheen stand-ins. 
Charlie has been flown in from LA for half a days work to reprise his original character. He is now the highest paid television actor 
commanding two million dollars an episode of ""Two and a Half Men."" 
Oliver arrives on the set greeting, examining, tweaking the shot and always pulling the prettiest girls closest to the 
camera. Michael and Charlie arrive from their trailers and run their lines as socials drift into their sight lines challenging their 
concentration on pages of dialogue. Oliver yells, ""Action"" as the extras aggressively jockey for face time. Charlie is not having an 
easy day and they do take after take. My corporate husband Chuck Pfieffer has gotten his real girlfriend Lisa Crosby in the film and 
my marriage has become a threesome. 
Sensing our concern of not making it onto the silver screen Oliver tells his first assistant director to seat a dinner table with 
Susan Hess, Jill Fairchild, Prince Dimitri, Chuck Pfieffer, Grace Meigher and Mario Calvo-Platero. He directs us to chat with each 
other turning left and right as the camera closely pans past our faces. 
Elsewhere on the set are John Buffalo Mailer, as Shia's character's best friend, Austin Pendleton, 94-year-old Eli Wallach and 
Natalie Morales. Also in this film are: the magnificent Frank Langella, as Shia's boss, who throws himself in front of a train early in 
the film, Susan Sarandon as Shia's real-estate broker mother, Sylvia Miles, who reprises her hilarious cameo as another real-estate 
HOUSE OVERSIGHT 032002 
agent and Jean Pigozzi as an international banker. 
Lunch is called at 4 p.m. and Michael Douglas takes seven heavily made-up and bejeweled women including Susan, Jill and me 
to a restaurant around the corner. Gordon Gekko hosts a hen party talking about children, schools, country houses and vacations. 
Back on the set Oliver is shooting the actual dinner. Assistant directors ask for volunteers to dance to the live music. Prince 
Dimitri twirls and dips Jackie Weld. Kelly Klein, in her own Karl Lagerfeld sheer black organza, watches from a table with scattered 
champagne glasses half-filled with apple juice along with her 86-year-old father, Tulley Rector. Charlie Sheen leaves for LA and 
Shia is very annoyed he was not introduced to his hero. Carrie Mulligan, costumed like Audrey Hepburn, chats with us between 
takes. 
The final set up is a long tracking shot of Josh Brolin and his wife as they triumphantly enter the ball. It is close to 9 p.m. and 
Lord William Astor arrives to pick me up for Amalia Dayan and Adam Lindemann's dinner for artists uptown. 
Oliver is introduced to William and delights in calling him Lord as he immediately moves him into the top of the shot and 
instructs him to tell Eli Wallach, ""We must do lunch"". Ever the proper English gentleman, William advises Oliver that Lords do not 
use American slang and improvises his own lines. The tracking shot continues for numerous takes following Josh and Noelle as 
every VIP extra gets another shot at instant stardom with one-line greetings. 
At last, ""It's a wrap"" is screamed after 10 p.m. Prince Dimitri tells The Wall Street Journal it was, ""a day of electrifying 
glamour,"" and ""the longest gala of my life. I was in black tie for thirteen hours."" 
November 25, Tommy Gun Salon, Ludlow Street, last day of shooting 
Donald Trump is on set at 7 a.m. ready for his close up. He is trying to make a mid-day departure on his jet from Teterboro 
with wife Melania and son Baron for Thanksgiving weekend in Palm Beach. Back in September, Oliver had invited Donald Trump to 
dinner at ""21"" to meet his leading men Josh and Shia so they could observe New York's most charismatic powerbroker in his natural 
environment. 
The scene is London so the grey skies are perfect. Gekko has moved abroad to make his financial comeback. The scene opens 
on the back of his head in a barber's chair as he watches the financial news on TV. The camera pulls back and Gordon Gekko is 
finally revealed as the powerful bull he once was in an exquisite suit and signature slicked-back hair. Donald Trump walks into the 
shop for a cut and the banter begins about the money market. From his chair, Donald leans into Michael and suggests a ""comb over"" 
like his famous do. Gekko, with a slight grin, says, ""No thanks Donald, I am a gel man."" 
The crew is yucking it up and Donald feels great. Paparazzi shoot the whole scene with long lenses from across the street. The 
unit publicist is helpless to keep this under wraps. Donald emerges, poses and gives interviews. Michael comes out, and the press 
think they have a scoop on the ending. Gekko is back in all his lovable titan splendor. Full-page photos of Michael and Donald run 
the next day in the tabloids. Never underestimate Oliver Stone's surprise endings. 
Twentieth Century Fox releases ""Wall Street 2: The Money Never Sleeps"" on April 23rd and its got hit written all over it. 
*********************************************************** 
The information contained in this communication is 
confidential, 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 032003 
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 032004 
"
IMAGES-012-HOUSE_OVERSIGHT_032858.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 3/18/2016 4:18:52 PM

To: Kathy Ruemmler
Subject: Re: Patterson

Nuts

On Friday, 18 March 2016, Kathy Ruemmler > wrote:

On the shuttle back to NYC. About to take off.
Sent from my iPhone

On Mar 18, 2016, at 11:41 AM, jeffrey E. <jeevacation@gmail.com> wrote:

a Forwarded message ----------

From: Michael Wolff {i >

Date: Fri, Mar 18, 2016 at 11:39 AM
Subject: Patterson
To: Jeffrey Epstein <jeevacation@gmail.com>

A few things to think about:

If the Patterson book is being published in August, that presents some time frame issues. You would not be
able to do a competing book or documentary before then. This is not to say that they shouldn't be pursued. In a
sense, better that they know what Patterson's position is and, a year from now say, be able to counter it. I have
some thoughts on book and doc to share at your convenience.

That being said, you do need an immediate counter narrative to the book. I believe Trump offers an ideal
opportunity. It's a chance to make the story about something other than you, while, at the same time, letting
you frame your own story. Also, becoming an anti-Trump voice gives you a certain political cover which you
decidedly don't have now. Still, this necessary involves you going public. And so the most basic decision is
about your willingness to do that. My view is that in a couple of weeks you could master message and
technical proficiency. I know a bunch of people who could be very helpful here. This would involve something
along the lines of you writing an op-ed, doing a high profile television interview (Charlie Rose, I'd say), and
perhaps some social media efforts.

Speaking of which, again, I think a strategic plan, involving your public identity, philanthropic activities and
interests, and the development of media allies, ought finally to be put in place. A big, comprehensive,
expensive effort.

The alternative is to continue to keep head down and hope Patterson book is just more he-said she-said and
Connolly getting lost in the reeds (which, as an inveterate conspiracist, he always does). My worry is that
Patterson can be counted on to produce a bestseller, and while he isn't regarded as a serious writer, he'll surely
be unloading a lot of tabloid copy. Because this will be tied to the election, the Trump-Clinton angle will amp
up the attention 10-fold, in fact, possibly, a hundred fold. Possibly more than anything you've encountered
before.

Meanwhile--

HOUSE_OVERSIGHT_032858
"
IMAGES-002-HOUSE_OVERSIGHT_013821.txt,"6. Emphasize Strengths, Don’t Fix Weaknesses.

Most people are good at a handful of things and utterly miserable at most. I am great at product creation
and marketing but terrible at most of the things that follow.

My body is designed to lift heavy objects and throw them, and that’s it. I ignored this for a long time.
I tried swimming and looked like a drowning monkey. I tried basketball and looked like a caveman.
Then I became a fighter and took off.

It is far more lucrative and fun to leverage your strengths instead of attempting to fix all the chinks in
your armor. The choice is between multiplication of results using strengths or incremental improvement
fixing weaknesses that will, at best, become mediocre. Focus on better use of your best weapons instead
of constant repair.

7. Things in Excess Become Their Opposite.

It is possible to have too much of a good thing. In excess, most endeavors and possessions take on the
characteristics of their opposite. Thus:

Pacifists become militants.
Freedom fighters become tyrants.
Blessings become curses.

Help becomes hindrance. More becomes less +

Too much, too many, and too often of what you want becomes what you don’t want. This is true of
possessions and even time. Lifestyle Design is thus not interested in creating an excess of idle time,
which is poisonous, but the positive use of free time, defined simply as doing what you want as opposed
to what you feel obligated to do.

8. Money Alone Is Not the Solution.

There is much to be said for the power of money as currency (I’m a fan myself), but adding more of it
just isn’t the answer as often as we’d like to think. In part, it’s laziness. “If only I had more money” is
the easiest way to postpone the intense self-examination and decision-making necessary to create a life
of enjoyment—now and not later. By using money as the scapegoat and work as our all-consuming
routine, we are able to conveniently disallow ourselves the time to do otherwise: “John, I'd love to talk
about the gaping void I feel in my life, the hopelessness that hits me like a punch in the eye every time I
start my computer in the moming, but I have so much work to do! I’ve got at least three hours of
unimportant e-mail to reply to before calling the prospects who said ‘no’ yesterday. Gotta run!”

Busy yourself with the routine of the money wheel, pretend it’s the fix-all, and you artfully create a
constant distraction that prevents you from seeing just how pointless it is. Deep down, you know it’s all
an illusion, but with everyone participating in the same game of make-believe, it’s easy to forget.

The problem is more than money.

9. Relative Income Is More Important Than Absolute Income.

Among dietitians and nutritionists, there is some debate over the value of a calorie. Is a calorie a calorie,
much like a rose is a rose? Is fat loss as simple as expending more calories than you consume, or is the
source of those calories important? Based on work with top athletes, I know the answer to be the latter.

What about income? Is a dollar is a dollar is a dollar? The New Rich don’t think so.
Let’s look at this like a fifth-grade math problem. Two hardworking chaps are headed toward each

HOUSE_OVERSIGHT_013821
"
IMAGES-001-HOUSE_OVERSIGHT_011256.txt,"wowalexisre | RT @BraddJaffy: To recap: 23 Jun 2016, | blackliv 132 | negative
ally a€”SCOTUS immigration 18:37 - CEST | esmatte
a€”SCOTUS affirm. action r
a€” Freddie Gray verdict
a€”Germany gunman
a€” Brexit
a€” House sitin
a€” VW settla€ |
TRADER_INS | RT @MarketWatch: The dirty secret about the Brexit 23 Jun 2016, | Wash 9 | negative
IDE vote: Ita€™s alla sham, says @BrettArends 18:37 -CEST | D.C.
https://t.co/S5MChC3HONH
DARKBLUET | RT @MarketWatch: The dirty secret about the Brexit 23 Jun 2016, 9 | negative
RADER vote: Ita€™s all a sham, says @BrettArends 18:37 - CEST
https://t.co/SMChC3HONH
emilykimber | RT @jamesdboys: A profound, sober article on divorce | 23 Jun 2016, | London 1 | negative
and #Brexit by the always engaging @nfergus for 18:37 - CEST
@spectator https://t.co/edWuLXYTMJ
CortioMaltie | @Tono_Otero AéPor quA@ los partidarios del 23 Jun 2016, 0} NA
s #BREXIT estAin en negativo en la grAifica? 18:55 - CEST
shop_marke | RT mashable: RT MashableUK: #DogsAtPollingStations | 23 Jun 2016, 0; NA
ter are helping their owners vote in the ‘Brexit' 18:55 - CEST
referendum a€| https://t.co/sxsU6QWUVf
ColumbiaGR | RT @ForeignPolicy: Herea€™s how the Brexit could 23 Jun 2016, | New 4|NA
derail production of @GameofThrones, 18:55 - CEST | York, NY
@davidcfrancis reports https://t.co/LQQICYo6l2
cateronchie | RT @FrancoFrattini: #Brexit: attenti alla€™effetto 23 Jun 2016, 4 | negative
ri a€cetanto rumore per nullaa€e.a€ceRemaina€e non 18:55 - CEST
cancellerA problemi Europa: serve cambio di passo
hta€ |
GiuseppinaL | RT @ForexLive: The Brexit vote is playing out in the 23 Jun 2016, | Silicon 2)NA
ind3 market exactly like the Scottish referendum 18:55 - CEST | Valley
https://t.co/TpOzeey6FJ https://t.co/Q2iQ5a€ |
Ladybug135 | https://t.co/pDuznAFUKz 23 Jun 2016, | johanne 0 | NA
7 18:55 -CEST | sburg.
south
africa
AltNieuws RT @PowellPolitics: The French said NO 23 Jun 2016, 409 | NA
The Dutch said NO 18:55 - CEST
The Irish said NO
The Dutch said NO Again
All ignored or told to vote again.
Comea€ |
rebeccanom | Wondering what effect the rain will have on voter 23 Jun 2016, | Waterlo 1|NA
ics turnout. Will Brexit voters display more old fashioned | 18:55-CEST | o
British stoicism? #EUreferendum London
dnerfld RT @Stop_ The EU: VOTE LEAVE For Freedom~ | 23 Jun 2016, | Astana 21 | positive
Sovereignty ~ Democracy 18:55 - CEST

HOUSE_OVERSIGHT_011256
"
IMAGES-005-HOUSE_OVERSIGHT_020035.txt,"why he singled her out at the condo board meeting.

In a real sense, however, her advantage was not meeting Trump but being taken up by
the Mercers. They recruited Conway in 2015 to work on the Cruz campaign, when Trump
was still far from the conservative ideal, and then, in August 2016, inserted her into the
Trump campaign.

She understood her role. “I will only ever call you Mr. Trump,” she told the candidate
with perfect-pitch solemnity when he interviewed her for the job. It was a trope she would
repeat in interview after interview—Conway was a catalog of learned lines—a message
repeated as much for Trump as for others.

Her title was campaign manager, but that was a misnomer. Bannon was the real
manager, and she was the senior pollster. But Bannon shortly replaced her in that role and
she was left in what Trump saw as the vastly more important role of cable spokesperson.

Conway seemed to have a convenient On-Off toggle. In private, in the Off position, she
seemed to regard Trump as a figure of exhausting exaggeration or even absurdity—or, at
least, if you regarded him that way, she seemed to suggest that she might, too. She
illustrated her opinion of her boss with a whole series of facial expressions: eyes rolling,
mouth agape, head snapping back. But in the On position, she metamorphosed into
believer, protector, defender, and handler. Conway is an antifeminist (or, actually, in a
complicated ideological somersault, she sees feminists as being antifeminists), ascribing
her methods and temperament to her being a wife and mother. She’s instinctive and
reactive. Hence her role as the ultimate Trump defender: she verbally threw herself in
front of any bullet coming his way.

Trump loved her defend-at-all-costs shtick. Conway’s appearances were on his
schedule to watch live. His was often the first call she got after coming off the air. She
channeled Trump: she said exactly the kind of Trump stuff that would otherwise make her
put a finger-gun to her head.

After the election—Trump’s victory setting off a domestic reordering in the Conway
household, and a scramble to get her husband an administration job—Trump assumed she
would be his press secretary. “He and my mother,” Conway said, “because they both
watch a lot of television, thought this was one of the most important jobs.” In Conway’s
version, she turned Trump down or demurred. She kept proposing alternatives in which
she would be the key spokesperson but would be more as well. In fact, almost everyone
else was maneuvering Trump around his desire to appoint Conway.

Loyalty was Trump’s most valued attribute, and in Conway’s view her kamikaze-like
media defense of the president had earned her a position of utmost primacy in the White
House. But in her public persona, she had pushed the boundaries of loyalty too far; she
was so hyperbolic that even Trump loyalists found her behavior extreme and were
repelled. None were more put off than Jared and Ivanka, who, appalled at the

HOUSE_OVERSIGHT_020035
"
IMAGES-011-HOUSE_OVERSIGHT_032410.txt,"New Book: Radicalbeauty.com

HOUSE_OVERSIGHT_032410
"
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HOUSE_OVERSIGHT_014196
"
IMAGES-003-HOUSE_OVERSIGHT_015819.txt,"ouldan army of monkeys write Hamlet by bashing away randomly

on typewriters? Of course, we don't mean this literally. We are

asking whether knowledge can be created without understanding.
Can a monkey, or perhaps some form of computerized random number
generator, accidentally type out the script for Shakespeare's Hamlet
or write Tolstoy’s War and Peace? Is knowledge generation simply a
numbers game?

Leo Tolstoy’s War and Peace is generally assumed to be the longest
novel ever written. This is not quite true. Wikipedia reckons the longest
novel is a French book, Artamene, with over 2.1 million words. Tolstoy
comes in sixteenth, with a mere half million!

Written in 1869, War and Peace tells the story of five Russian families
during the Napoleonic wars. Originally written in a mixture of Russian
and French, and numbering over 500,000 words, it was quickly translated
to other languages. The mistress of composer Franz Liszt translated it
fully into French, where it expands to 550,000 words. Contrary to popular
myth the length of the book drops slightly in German. If you really want
to save paper Chinese is best. Because
it uses a single symbol per word, the
Chinese translation needs only 750,000
characters compared with the 3 million
for English. It is wrong to assume this
is necessarily more efficient than a
phonetic language. Although it might
save on paper, it is considerably more
laborious to write. Three strokes are
required to write ‘war in English
whereas the Chinese pictogram
requires ten.

Computers work with numbers. It is a simple process to translate
a book into numbers because books are composed of discrete symbols.
All we need do is give each symbol a unique number and record those
numbers in digital format. Artistic works involving pictures and sound
are more difficult to represent because they are continuous in nature. We
have to digitize them first. With music or painting this inevitably means
some loss of information as we can’t cut a sound or image into an infinite
number of pieces.

The modern standard for translating text to numbers is Unicode.
Each character is represented by a five-digit number ranging from 1
to 64,000 — two bytes for those of you who know computing. This is

War in Chinese

HOUSE_OVERSIGHT_015819
"
IMAGES-006-HOUSE_OVERSIGHT_021193.txt,"and body language, a very primitive form of speaking, but what choice
did we have?

I did my best to get acquainted and as I had previously assumed after
lunch on the beach we were again ushered into another part of the island,
Jeffrey’s cabana. There was no need for words here, as the girls already
knew exactly what to do. Without saying anything they undressed me and
began to ravage my body with their hands, tongues, lips and fingers. I
was delirious, never having done anything like this before with so many
girls. It was sheer chaos; | don’t honestly know how men could fantasize
over this. Through the glimpses in between bodies crossing over me I
could see Jeffrey and Brunel watching us, sitting in a chair with their
hands around their penises, stroking themselves together “The best part is
they don’t even speak English so there’s never a need to have to keep
them amused” | could hear one of the men divulge and pretty sure it came
from Jeffrey laughing out Joud to Brunel. [ just closed my eyes and went
somewhere else in my mind until it was all over. That was that, life went
on and we all moved on to eat dinner together.

It couldn’t be more awkward as Jeffrey and Brunel were beside
themselves with their ego’s beaming, and the girls chatted like busy little
chipmunks with each other. Ghislane and Emmy on the other end of the
table were being amused at the entire racquet around the table and then
there was me. Sitting quietly and smiling in people’s direction when
needed, I was counting down the minutes until | could go lay down in my
giant comfortable bed, slipping away to the gentle noises the island
created and sink comfortably into a deep sleep with the assistance of my
Xanax. Scratching at the plate in front of me with my fork out of
boredom, I wasn’t even hungry. I had lost my appetite for food. Rather
sipping on the champagne I wanted to feel as far away from here as
possible. What seemed fike hours for everyone to finish their meals we
were finally all saying goodnight and goodbye to each other, as Brunel
was off early in the morning and taking the eight beauties with him.
“Thank God” I told myself, once was more than T could handle of that in
one day.

It didn’t take me long to get back into my own comfort zone. Heading
straight back to my cabana after dessert was served nearly tripping over
my own two feet as I tried to scuttle off in a hurry. As soon as I entered
my domain, I drew a breath and sighed a deep exhale outwards, finally
alone and at peace... for now at least. Although the sun had set hours ago
the high temperatures of the Caribbean were still an affliction, plaguing
my cabana I was welcomed by a rush of warm air as I opened the door. 1
hit the switch to the fan and stripped down for a shower. Preparing my
towel and toiletries | opened the back door to the outside shower and
placed them on the floor. Whether | was cleaning up in the midst of a hot

oF

C Copyright Protected Material
CONFIDENTIAL, GIUFFREO04230

day or retiring for the evening, an outside shower was always splendid.
Under a thick dark cloak of the night sky only the moon and stars to shed
enough light for me to see my way around. I could feel the soft breeze
lick the droplets falling off of my bodies’ curves in the reflection of the
moonlight. It only encouraged me to stay longer under the warmth from
the spray of rushing water. I let the hot water run out before I was
sufficed enough to go back inside. Lounging around the bed in my
panties and a tank top I was still sweltering from the heat. Trying to tire
myself out, I did some reading and eventually fell asleep. | needed those
times to unwind after such an ordeal, letting the Xanax wash away all of
the pain I could then forgive the mistakes I had made, blaming myself for
staying around for this I had wished | was never born at all. The pills
would take all of that away for me. My heart was a tangled weave of
deception and pain, only reassured by the lies that were told to me and the
lies | would have to convince myself of.

Chapter 16

When we flew back into Palm Beach, Juan drove me back to my
apartment. Lonely for some companionship I decided to call an old
friend. | was longing to be important to someone and unfortunately with
such little time to have a social life of my own I was compelled to call T.J
again. His Mom answered the phone and sounded quite surprised to hear
my voice on the other end. She was always kind to me, I even used to
bring her back “Cola” cans from other countries a bizarre hobby she
loved collecting. She just didn’t know what I saw in her son, even saying
that to his face many times over. Not blind to his ways of cheating and
stealing, being a personal victim of it, she made it apparent that she did
not approve of T.J’s choice in lifestyle. It used to really hurt him how his
parents thought so badly of him, so he gave up trying to eam their love a
long time ago. As long as he didn’t steal from them anymore he was
allowed to live there. Instead of that being a lesson to him, he would just
try to be more clever in what he would steal, less obvious things. He
would steal the toaster and sell it for five dollars if he knew it would help
to get him his next high.

Nonetheless and at my expense I had a sweet spot for him. With
enough water under the bridge, I was able to forget about the troubles he
caused. His Mom told me she’d pass on the message when he got home,
but that could be days from now. The last time he had been home was
over a couple of weeks now. He only stopped by to get something to eat,
have a long sleep and to beg her for a few bucks, supposedly to help him
buy food. Then he was off again without a single word said, only leaving

98

11 Copyright Protected Material

GIUPFRE00423 1

HOUSE_OVERSIGHT_021193
"
IMAGES-011-HOUSE_OVERSIGHT_031119.txt,"to Robert DeNiro. We even applauded Bob putting his handprints in cement in front of Grauman's Chinese
Theater.

The conversations continued about how our government put the cabasch on ""Zero Dark Thirty"" with their
arrogant denial of enhanced interrogation. Even MPAA President Chris Dodd could not help Mark Boal,
Katherine Bigalow and Amy Pascal.

Additional chatter was the renewed last minute love for ""Les Miserables"". Clearly the most polarizing
film in the race, this 27 year old theatrical musical seen by 60 million fans is now the talk of the
Oscar weekend.

Hugh Jackman, Anne Hathaway, Russell Crowe, Amanda Segfried, Eddie Redmayne, Sasha Baron Cohen, Helena
Bonham Carter and Samanthe Barks are making an historic one time live performance as part of Sunday's
television broadcast. Producers Craig Zadan and Neil Meron's will attempt to razzel dazzel us with an
homage to movie musicals for three plus hours at the Dolby theater.

Barbra Streisand, Adele and Shirley Basse's appearances also create high anxiety and a blood bath for
tickets...hence the hysteria created by Dreamworks’ messenger cutting the line.

After checking into the iconic Beverly Hills Hotel, my home away from home for 30 years of Oscar weekends
and meticulously laying out all the ensembles sent from Valentino and Ralph Rucci, I hit the party
circuit overdressed for life.

Daisy... I can do this...fairly easily now...but I have a lunch at 12:30pm and important meetings. I am
so distraught about all this pressure. I am calling you now. Peggy

HOUSE_OVERSIGHT_031119
"
IMAGES-012-HOUSE_OVERSIGHT_032870.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

Landon Thomas, Jr.
Financial Reporter
New York Times

ir_ thomas/index.h

HOUSE_OVERSIGHT_032870
"
IMAGES-001-HOUSE_OVERSIGHT_012039.txt,"But after he struck a deal with Emirates NBD to roll out his product, SpanCash, he claimed the bank stole his
proprietary technology, killed the deal and ruined his company. (Though it’s hard to feel too sorry for him--
he’s pictured in front of his house, a mansion that would put Versailles to shame. In this David-and-Goliath
story, he’s a David from the 1 percent.)

Bajwa sought $554 million plus punitive damages on trade secret misappropriation and misrepresentation
claims.

Trial began on July 26 in U.S. District Court for Central District of California. On Aug. 10, Ruemmler and
Isaacson summed up their opposing positions in closing arguments.

Let’s take a look.

Isaacson, who did not respond to a request for comment, led with one of his strongest cards: USA! USA!
“We as a country, made up of flawed people, come together as one of the greatest countries on Earth, because
we are a nation of laws,” he said, according to a transcript of the proceedings. “This was about hard work and
what happens when your work is destroyed and taken, how you're entitled to be treated under the laws of the
United States.”

For Ruemmler, the appeal was not emotional or jingoistic. It was rational all the way.

Her first line: “Mr. Bajwa has come up with an interesting story, but it's not what happened.”

And then, in the most matter-of-fact, conversational way, she annihilated his case.

“There are at least five fatal flaws in Mr. Bajwa's case, and any one of those alone sinks his case. Any one,”
she said, according to the transcript.

Bajwa couldn’t prove that SpanCash was ever fully functional and commercially ready, Ruemmler said. In
fact, she argued, it was never even a real product.

Further, she said, Bajwa didn’t prove that the technology or platform was comprised of any trade secrets; or
that Emirates Bank stole SpanCash; or that it ever used it. Finally, Bajwa didn’t prove InfoSpan suffered any
damages, she said.

Some of her turns of phrase are refreshingly non-lawyerly. ““Sham is going down there... It's not as if these
guys were exactly rubes...This is some flimflam thing... One of the many, many dog-ate-my-homework
excuses....This is an absolute double-down lie.”

The overall effect: she simplified without being condescending.

But there was still a hurdle for Emirates. Or as Latham’s Schecter put it in an interview, “There are some facts
we wouldn’t script.”

After the bank terminated its agreement with InfoSpan and demanded its investment back, Infospan’s deputy
CEO, Larry Scudder, was arrested when he tried to leave the UAE.

“At the Dubai Airport that day, the Dubai police arrested Mr. Scudder after he presented his passport at an
electronic terminal. Police told Mr. Scudder that a charge of criminal fraud had been filed against him for
$1,465,000. Mr. Scudder was handcuffed and marched through the airport and then held in police detention
facilities and interrogated,” the complaint states.

HOUSE_OVERSIGHT_012039
"
IMAGES-004-HOUSE_OVERSIGHT_016870.txt,"(3) Investments in AI should be accompanied by funding for research on ensuring
its beneficial use. ... How can we make future AI systems highly robust, so that they do
what we want without malfunctioning or getting hacked.'®

The first two involve not getting stuck in suboptimal Nash equilibria. An out-of-
control arms race in lethal autonomous weapons that drives the price of automated
anonymous assassination toward zero will be very hard to stop once it gains momentum.
The second goal would require reversing the current trend in some Western countries
where sectors of the population are getting poorer in absolute terms, fueling anger,
resentment, and polarization. Unless the third goal can be met, all the wonderful AI
technology we create might harm us, either accidentally or deliberately.

AI safety research must be carried out with a strict deadline in mind: Before AGI
arrives, we need to figure out how to make AI understand, adopt, and retain our goals.
The more intelligent and powerful machines get, the more important it becomes to align
their goals with ours. As long as we build relatively dumb machines, the question isn’t
whether human goals will prevail but merely how much trouble the machines can cause
before we solve the goal-alignment problem. If a superintelligence 1s ever unleashed,
however, it will be the other way around: Since intelligence is the ability to accomplish
goals, a superintelligent AI is by definition much better at accomplishing its goals than
we humans are at accomplishing ours, and will therefore prevail.

In other words, the real risk with AGI isn’t malice but competence. A
superintelligent AGI will be extremely good at accomplishing its goals, and if those goals
aren’t aligned with ours, we’re in trouble. People don’t think twice about flooding
anthills to build hydroelectric dams, so let’s not place humanity in the position of those
ants. Most researchers argue that if we end up creating superintelligence, we should
make sure it’s what Al-safety pioneer Eliezer Yudkowsky has termed “friendly AI’—AI
whose goals are in some deep sense beneficial.

The moral question of what these goals should be is just as urgent as the technical
questions about goal alignment. For example, what sort of society are we hoping to
create, where we find meaning and purpose in our lives even though we, strictly
speaking, aren’t needed? I’m often given the following glib response to this
question: “Let’s build machines that are smarter than us and then let them figure out the
answer!” This mistakenly equates intelligence with morality. Intelligence isn’t good or
evil but morally neutral. It’s simply an ability to accomplish complex goals, good or bad.
We can’t conclude that things would have been better if Hitler had been more intelligent.
Indeed, postponing work on ethical issues until after goal-aligned AGI is built would be
irresponsible and potentially disastrous. A perfectly obedient superintelligence whose
goals automatically align with those of its human owner would be like Nazi SS-
Obersturmbannfithrer Adolf Eichmann on steroids. Lacking moral compass or
inhibitions of its own, it would, with ruthless efficiency, implement its owner’s goals,
whatever they might be.!?

When I speak of the need to analyze technology risk, ’m sometimes accused of
scaremongering. But here at MIT, where I work, we know that such risk analysis isn’t
scaremongering: It’s safety engineering. Before the moon-landing mission, NASA

18 https://futureoflife.org/ai-principles/
19 See, for example, Hannah Arendt, Eichmann in Jerusalem: A Report on the Banality of Evil (New York:
Penguin Classics, 2006).

67

HOUSE_OVERSIGHT_016870
"
IMAGES-008-HOUSE_OVERSIGHT_025921.txt,">> From: Realblond:s i! <i [is

>> Date: March 9, 2016 at 9:26:23 AM CST

>> Subject: Fwd: Gingrich view of Trump

Se

$e

>> SUBJECT; GINGRICH VIEW OF TRUMP

>>

>>

Soe

$e

>> Understanding Donald Trump The Washington Times January 8, 2016 by Newt Gingrich

>>

>> Donald Trump is a genuine phenomenon. He may or may not become the Republican nominee for
president. He may or may not win the presidency even if he becomes the nominee. Yet it is clear that he is a
phenomenon and that any history of the 2016 presidential race will have to spend a good bit of time
analyzing Trump and his impact.

>>

>> From the time he announced on June 16, Trump has dominated social and mainstream media. He
dominates the conversation despite the lack of paid advertising. Trump says outrageous things and his
supporters shrug it off. At every turn, his poll numbers continue to rise.

>>

>> As a step toward understanding this amazing performance, I spent part of the Christmas break reading his
first bestseller, ‘The Art of the Deal’. Written in 1987, this book is a classic among American business
books and has influenced a generation of entrepreneurs. Trump wrote ‘The Art of the Deal’ when he was 41
years old and having a successful run. The book’s popularity contributed to Time Magazine’s decision to
feature Donald Trump on its cover in January 1989.

>>

>> The portrait that emerges from this easy-to-read and remarkably interesting book is of an aggressive,
ambitious person who is constantly pushing, constantly learning, and always seeking the next

challenge. Reporters and analysts who are trying to understand Trump would be well served by slowing
down and reading this nearly three-decade-old bestseller.

>>

>> They would discover that Donald Trump has developed a remarkable set of rules and principles that
allow him to make decisions with incredible speed. Trump knows a lot, but what is amazing is how rapidly
he figures out what he doesn’t know.

$e

>> My favorite story is of the Wollman Skating Rink in New York’s Central Park.

>> The Wollman Rink was a heavily used public skating rink which had fallen into disrepair in 1980. New
York City tried for six years to fix it, spent $13 million, and the rink still was not ready to open. In June of
1986 Trump, who could see the rink from his apartment, finally got tired of the embarrassment and offered
to fix the rink at his own expense. At first the city turned him down because its bureaucracy did not want to
be embarrassed by someone fixing something they couldn’t fix. Trump kept pushing and finally out of
embarrassment the city gave in.

>>

>> The key part of the story is Trump’s reaction to being put in charge. He promptly recognized that he
didn’t know anything about fixing a skating rink. He asked himself who built a lot of skating rinks.
“Canadians!” he concluded. He found the best Canadian ice skating rink construction company. When the
Canadians flew in to assess the situation, they were amazed at how bad the city had been at solving the
problem. They assured Trump that this was an easy job. Trump fixed the six year embarrassment two
months ahead of schedule and nearly $800,000 under-budget. (The city did end up paying for the work, and
Trump donated the profits to charity.)

HOUSE_OVERSIGHT_025921
"
IMAGES-009-HOUSE_OVERSIGHT_026861.txt,"uo

situation in order not to get lost in complexity and the changing international situation.
Xi concludes on this count by stating that “throughout human history, the development of the
world has always been the result of contradictions intertwining and interacting with each
other.”

Once again, all this will seem more than a little arcane. But in the ideological dialect of the
Communist Party, it seems to mean several things. First, that there is nothing random about
what is unfolding in the world today. Second, these reflect certain immutable laws of political
and economic development. Third, the business of Chinese foreign policy is to use this dialectal
prism to understand precisely what is happening in the world today, why it is happening and
what to do about it. And fourth, applying these disciplines to the current period, it means that
the global order is at a turning point with the relative decline of the US and the West, with
this coinciding with the fortuitous national and international circumstances currently enabling
China’s rise.

To use Xi’s own language, this: “has been in the best period of development since modern
times, while the world is undergoing the most profound and unprecedented changes in a
century” adding that “the two aspects are intertwined and interact with each other.” Xi refers
to the current period as a period of unprecedented strategic opportunity for China and the
current mission of the party. Although this is not itself a new term, Xi says the party’s mission
is to extend this period. To do this, he calls for the party to engage in “in-depth analysis of
the law of how the international situation changes as the world comes into this transitional
period, as well as developing an accurate grasp of the basic characteristics of the external
environment China is facing at this historical juncture in order to better plan and facilitate the
country's work on foreign affairs.”

In other words, what is being said here is that China now has the wind at its back. Of course
there are formidable obstacles ahead. But a dialectical analysis of history causes China to
conclude that the forces of reaction facing the US and the West are greater. Just as the
contradictions operating domestically within the US and the West (in their particular political
systems) are greater as well. Which in turn renders China’s overall domestic and international
circumstances much better by comparison in the emerging contest between the two. All of
which, again in this view, pushes towards a new historical synthesis more in China’s (and
Chinese socialism’s) favour.

You will all be forgiven if you think this all sounds more like medieval theology than modern
international relations. And it’s anyone’s guess what any of this actually will have to do with
concrete foreign policy reality. But we often forget that how one-party states, and in particular
Marxist states, choose to ‘ideate’ reality actually matters. It’s how the system speaks to itself.
It’s the political lingua franca among political and policy elites.

And the important thing here is that the message from Xi Jinping to his international policy
elite is one of great confidence. Not just because China wills it to be so, but because from a

Marxist theoretical perspective, which in their view articulates certain immutable ‘laws’ of
political and economic development, the forces of history are now with China. Furthermore,

6 of 10

HOUSE_OVERSIGHT_026861
"
TEXT-002-HOUSE_OVERSIGHT_032506.txt,"From: Thomas Jr., Landor 
Sent: 3/3/2017 2:57:50 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Masa 
Importance: High 
Have you met Masa yet? Seems to me he is a person you should know and you are a person he should 
know. 
https://www.nytimes.com/2o17/o3/o3/business/dealbook/masayoshi-son-sprint-and-a-bet-on-the-
trump-economy.html?hp&action=click&pgtype=Homepage&clickSource=story-
heading&module=first-column-region&region=top-news&WT.nav=top-news  
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 032506 
"
IMAGES-010-HOUSE_OVERSIGHT_029479.txt,"Business Expansion Portfolio and Prospectus
Twin City Care of The Virgin Islands
4

Performance Parameters:

Pre-Schedule Transports On time 90%
Non-Schedule Urgent On time within | hour of call time 90%
Non-Schedule Non- Urgent On time within 2 hours of call time 90%

Mental Health Transports

Definitions:
Priority 1 Law Enforcement with the patient.
Priority 2 Transport requests coming from the Emergency Room, include Air Ambulance
Priority 3 Transport request from Hospital rooms, Detention Centers, Exparte, voluntary
request, inpatient mental health units, other “stable” environments, and voluntary
requests. “Non- Air Ambulance”
Priority 4 Pre-Scheduled transports with a minimum of 24 hours’ notice.

Performance Parameters

Priority 1 On scene 45 minutes from time of call’s acceptance 90% on time

Priority 2 On scene | hour from time of call’s acceptance from receiving facility, 90% on time
Priority 3 On scene 2 hours from time of call’s acceptance from receiving facility, 90% on time
Priority 4 On scene at the agreed upon time, 90% on time

Fees for Service

Transport Rate Schedule

BLS Non-Emergency $290.00

ALS Non-Emergency $400.00

BLS Emergency $440.00

ALS Emergency $520.00

ALS-2 $775.00

All Mileage $11.25 per mile

Stand-by or Waiting Time $125.00 per hour or increment thereof*
Medical Coverage (First Aid Station) Contracts $800.00 per day

In addition to TCMIH primarily non-emergency inter-facility services, TCMIH will routinely
render ambulance services in response to facility requests that fall into the Center for Medicare
and Medicaid Services (CMS) guidelines qualifying Twin City for reimbursement under the CMS
code for ALS or BLS Emergency based on the “Immediate Response” criteria. The current CMS
definition for Emergency is not based on “lights and sirens”, it is based on “immediate response”.

HOUSE_OVERSIGHT_029479
"
IMAGES-011-HOUSE_OVERSIGHT_032376.txt,"From: Linda Pinto

Sent: 11/25/2016 11:53:06 AM
To: ‘jeffrey E.' [jeevacation@gmail.com]
Subject: RE: ILE MOUSTIQUE

Importance: — High

OK great | will ask the accounting department to prepare and send the first request.

Good luck with the government...

Linda PINTO

Cabinet Alberto Pinto
11 rue d'Aboukir
75002 Paris

T:
F:
www.albertopinto.com

De : jeffrey E. [mailto:jeevacation@gmail.com]
Envoyé : jeudi 24 novembre 2016 18:09

A: Linda PINTO
Objet : Re: ILE MOUSTIQUE

please do so. Iam having a meeting with the government on the 15th re foreigb workers , painters. etc. sorry
, Its beeen crazy with trump people here in palm beach

On Thu, Nov 24, 2016 at 11:49 AM, Linda Pinto  wrotc:
Dear Jeffrey,

Since your last meeting in Paris and the meeting on site I have had no news from you. I would
just like to know if you intend to go ahead with the interior design work because Florence is
blocked and waiting. If you want to do it and since about ~70-80-90% of the project is
approved then why don’t we start with what is sure and for the remaining points, such as the
kitchen, we can see about these the next time you are in Paris.

As for the kitchen I understand new samples were sent yesterday. These samples are in grey
which is not a very bright color for a beach house kitchen where perhaps blue might be more
appropriate. Let’s see.

If you would like us to do the project we will send you a budget recap for the points agreed
upon along with our first account and fees.

Big kisses,

HOUSE_OVERSIGHT_032376
"
IMAGES-001-HOUSE_OVERSIGHT_011530.txt,"the go-ahead. Still, he was convinced that if we could demonstrate a toughness,
commitment and competence which offered an obvious addition to Israel’s
intelligence capability, even they would recognize the folly of not using it.

He made every one of us feel a part of making this possible. I was one of ten
new recruits, bringing the size of the sayeret to twenty. We were almost all
teenagers. In fact, the oldest of our officers was 21. Most of the men were
Sephardi Jews. For a unit like ours, with the aim of undertaking secret missions
in Arab countries, Avraham believed that a background in Arabic culture and
language was an important asset. I was the sayeret’s only lock-picker. But all of
us had been recruited in the much same way that I was. It was how the top
Palmach units had been formed, and the way Sharon assembled Unit 101:
friends recommending friends, in my case, my old yeled chutz schoolmate from
the kibbutz.

We trained in the whole range of commando skills. We used not only Uzis,
but Soviet-made Kalashnikovs and Gurionov machine guns. We worked with
detonators and explosives. We staged raids on Israeli airfields. We conducted
exercises using rubber dinghies to practice attacking from the sea. But mostly
we walked. For hundreds of miles, almost always at night the length and breadth
of the country. We would study a map of each area, committing every town or
village, hilltop or dry creek bed, to memory before we set off. I can still
remember what Meir Har-Zion told us: to be truly prepared, you needed to
spend “an hour for an hour” — an equal time mastering the lay of the land to the
amount you’d need to carry out an operation. It was a gruelling regime —
designed to push us to the very limits of endurance. On one series of exercises,
we were limited to a single canteen of water as we trekked deep into the Negev
Desert. It was gruelling, designed to push us to the very limits of endurance. I
remember the first time Errol set eyes on me after I joined the unit. He turned to
Avraham, laughed, and said: “Are we taking high school kids now?” But before
long, I was a “high school kid” no longer.

Meir Har-Zion rarely took a direct part in our exercises. On his final
Company A mission, a month before the 1956 war, he had been shot in his
throat and arm. A medic saved his life by performing a tracheotomy. But his
speech was affected, and he still had almost no use of his right arm. Errol,
Micha Kapusta and Yitzhak Gibli were more actively involved with us. They
were there not only to help train us, but to instill a commando aftitude, a spirit
of confidence bordering on bravado.

59
HOUSE_OVERSIGHT_011530
"
IMAGES-010-HOUSE_OVERSIGHT_028767.txt,"Lena

BS Df 24S IS DIS IS 24S BIS DIS BIS iS DIS IC 24K BIS DIS 5S 2S DIS IC OIC BIS DIS DIC 2k DIS Ig 24K BIS DIC 3IC DiC DIS ik DIC BIC DIC DIS DiC DIC ik 24S SOIR FIC DI DIC 2k OIC iS 2IC IC 2c IC 2k 2I6 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_028767
"
IMAGES-010-HOUSE_OVERSIGHT_030128.txt,"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_030128
"
TEXT-002-HOUSE_OVERSIGHT_032512.txt,"From: Larry Visoski 
Sent: 3/5/2017 4:21:06 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: TSA 
Importance: High 
Not yet,. I'll be there at 12:30pm 
Sent from my iPhone 
On Mar 5, 2017, at 11:04 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
are you at the plane already? 
On Sun, Mar 5, 2017 at 10:52 AM, Larry Visoski 
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 
wrote: 
HOUSE OVERSIGHT 032512 
"
IMAGES-011-HOUSE_OVERSIGHT_032362.txt,"from: Linde Stn hE

Sent: 11/13/2016 6:26:33 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: My sister's perspective from Europe

Importance: — High

I am looking at this from over here in Germany. American politics gets reduced in the end to only a few
issues: pro-life or pro-choice, gun laws, and establishment vs. anti-establishment. Political categories
are so wishy washy and intermingled with what is termed 'liberal'’ and ‘conservative’ that one forgets
what they actually mean.

Of course, not everybody who voted for Trump is sexist or a racist, but, on some level, they didn't care
if he is. He knew how to gather momentum with the discourse he chose, and, even if he changes his tone,
he has let loose a storm. We will brace ourselves over here for Putin's eventual takeover of the Baltic
States. Putin has extended his power back into Republic of Georgia, the Crimea, and Armenia. Trump has
said that he would not come to the aid of Nato allies if they were attacked. IS is the least of our
problems here in Germany; Erdogan is a much larger threat, for now.

I don't see Hillary Clinton as being at fault. I see the growth of nationalism (all throughout the world,
not just in the USA) and an underestimation of the fear that non-Hispanic whites have about the
trajectory they are on to become a minority Cin the USA and other European countries).

Every news show, talk show, etc here is discussing and analysing the fallout of Trump's win. German

politicians are hoping to learn from it, to stem the growth of the right wing AFD party here. As far as I
know, Merkel is the only leader who congratulated Trump with a warning.

HOUSE_OVERSIGHT_032362
"
IMAGES-001-HOUSE_OVERSIGHT_011524.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_011524
"
IMAGES-010-HOUSE_OVERSIGHT_028773.txt,"From: Boris Nikolic Po

Sent: 5/7/2012 11:21:03 PM
To: Jeffrey Epstein (jeevacation@gmail.com) [jeevacation@gmail.com]
Subject: FW: Tix for Jeffrey

Attachments: image003.jpg; Auktionsblatt.pdf; TXT AIDS Solidarity Gala_E.pdf

Importance: — High

It was not easy as people from LifeBall are very difficult. But | go it (they even now approved you - they needed to doa
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.

| have the same ones (through Bill).

| also got two additional for you but it turns out that they are not the same level so | reached to Kevin for help.

The price is 2,500Euro per ticket (this is very reduced price as | 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 | am sending you with my next email!

Boris

From: Kevin Frost [mailto yaaa
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. | 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 Robert Frost

HOUSE_OVERSIGHT_028773
"
IMAGES-006-HOUSE_OVERSIGHT_021839.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 —

16

than -- than otherwise.

Q. And if the dispute concerned, for example, a
specific discovery issue, would you expect the response
to be directed to that issue?

A. I would expect that the record would be built
so that it would be available for the discovery issue,
yes.

Q. Okay. I am going to ask the reporter to mark
as Cassell -- am I pronouncing your name correctly?

A. Yes, it's Cassell, yes.

Q. Okay. Could I ask the reporter to mark as
Cassell Exhibit 1 -- I will hand that to the reporter.

(4 Plaintiff's * Defendant's I.D. Exhibit
No. 1 - * description was marked for identification. )
BY MR. SIMPSON:

Q. Let me identify that for the record. I may
want to mark two things.

A. Okay.

Q. Exhibit 1 is documented Plaintiff's Response
to Motion for Limited Intervention by Alan M.
Dershowitz, and I'm going to ask the reporter to mark
another exhibit at the same time. This will be
Exhibit 2, and this is a document entitled Jane Doe
Number 3 and Jane Doe Number 4's motion pursuant to rule

21 for joinder in action. Both cases having been filed

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021839

"
IMAGES-007-HOUSE_OVERSIGHT_022979.txt,"fo)
nm
ro)
N
N
ro)
L
o
top)
or
LU
>
O
LU
1)
_)
O
a

"
IMAGES-004-HOUSE_OVERSIGHT_016864.txt,"the (currently) esoteric domain of self-reproducing machines—to the power and
versatility of neurons and their synapses. This could become a new, great frontier of
research. Here too, biology might point the way, as we come to understand biological
development well enough to imitate its essence.

Altogether, the advantages of artificial over natural intelligence appear
permanent, while the advantages of natural over artificial intelligence, though substantial
at present, appear transient. I’d guess that it will be many decades before engineering
catches up, but—barring catastrophic wars, climate change, or plagues, so that
technological progress stays vigorous—few centuries.

If that’s right, we can look forward to several generations during which humans,
empowered and augmented by smart devices, coexist with increasingly capable
autonomous Als. There will be a complex, rapidly changing ecology of intelligence, and
rapid evolution in consequence. Given the intrinsic advantages that engineered devices
will eventually offer, the vanguard of that evolution will be cyborgs and superminds,
rather than lightly adorned Homo sapiens.

Another important impetus will come from the exploration of hostile
environments, both on Earth (e.g., the deep ocean) and, especially, in space. The human
body is poorly adapted to conditions outside a narrow band of temperatures, pressures,
and atmospheric composition. It needs a wide variety of specific, complex nutrients, and
plenty of water. Also, it is not radiation-hardened. As the manned space program has
amply demonstrated, it is difficult and expensive to maintain humans outside their
terrestrial comfort zone. Cyborgs or autonomous AIs could be much more effective in
these explorations. Quantum Als, with their sensitivity to noise, might even be happier in
the cold and dark of deep space.

In a moving passage from his 1935 novel Odd John, science fiction’s singular
genius Olaf Stapledon has his hero, a superhuman (mutant) intelligence, describe Homo
sapiens as “the Archaeopteryx of the spirit.” He says this, fondly, to his friend and
biographer, who is a normal human. Archaeopteryx was a noble creature, and a bridge to
greater ones.

61

HOUSE_OVERSIGHT_016864
"
IMAGES-011-HOUSE_OVERSIGHT_030575.txt,"Date: Tuesday, March 8 2011 11:17 PM
Subject: RE: <no subject>

Fon:

To: Jeffrey Epstein <jeevacation@gmail.com >;

| think this is a great article | think ll was clearly very nice...| remember when | got the call when she was thinking about her
writing the article 8 years ago...she was spot on here this is the article that citrick should work off of...

Home all night

From: Jeffrey Epstein [mailto:jeevacation@gmail.com]
Sent: Tuesday, March 08, 2011 5:48 PM
To:

Subject: Fwd: <no subject>

---------- Forwarded message ----------
From: gmax <gmax1@ellmax.com >
Date: Tue, Mar 8, 2011 at 12:17 PM
Subject: <no subject>

To: J Jep <jeevacation@gmail.com >

Jeffrey and Ghislaine: Notes on New York's Oddest Alliance <
http://www.vanityfair.com/online/daily/2011/03/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

“T’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

HOUSE_OVERSIGHT_030575
"
IMAGES-008-HOUSE_OVERSIGHT_025935.txt,"From: Michael Wolff [

Sent: 5/25/2016 11:23:50 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Trump

Importance: — High
What was the letter?

On Wednesday, May 25, 2016, jeffrey E. <jeevacation@gmail.com> wrote:
nussbaum white house counsel.. hillary doing naughties with vince

On Wed, May 25, 2016 at 7:19 AM, Michael Wolff {qq wrote:

What's the thumb nail on Nussbaum/foster?

On Wednesday, May 25, 2016, jeffrey E. <jeevacation@gmail.com> wrote:
maybe you can ask why bernie nussbaum got vince fosters letter quickly, that is a hillary problem. he
would smile then you can ask his realtionsjipwith the elctricians unions and maralago . and out you go

On Wed, May 25, 2016 at 7:12 AM, Michael Wolff [nn wrote:

Job is to get the hard ones in without being ejected from the room. What's the one question that
pierces through?

On Wednesday, May 25, 2016, jeffrey E. <jeevacation@gmail.com> wrote:
do you want to be provacative .? trump shuttle. hawaiin tropic contests.. mortgage on mara
lago. ? revenue of golf courses as income.??! , total debt of all cos .? people dont want to conribute
money as he said he is worth over 10b , why should they? , calif already coming up short. . fatther
bought chips in the casino to stave off bankruptcy, chips because it was better than a first lien. under the
gambling rules. matt his bag man? his loan from his brother in law ( JUdges husband) how much did
his father leave. his brother robert etc.
otherwise you can just throw easys

On Wed, May 25, 2016 at 7:05 AM, Michael Wolff <n wrote:

I'm interviewing him this afternoon. Anything you think I should ask?

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_025935
"
IMAGES-009-HOUSE_OVERSIGHT_026875.txt,"CNN

RLK: But there are five real
reasons that are problematic to
the US with respect to China:
closed markets; intellectual
property protection; industrial
espionage, which includes cyber
theft; forced technology transfer
in JVs; and government support
for future industries. Those are
five real issues that the smart
people in America are focusing on.
And legitimately so.

RLK: But these are, I believe,
solvable — because intellectual
property rights, China's
improving. Industrial espionage,
they're reducing and they have
reduced. It needs to be more.
Tech transfer, I think that will be
eliminated.

RLK: The two critical issues are
government support of nascent
industries in China and the
opening of markets. I think
ultimately those two can be
traded. The US can recognize that
China can do some of those things
with certain restrictions and really
open their markets more. I think
that's the ultimate trade.

November 2017
= Beijing

JACK MA: TRADE WAR COULD LAST 20 YEARS Fa""')

Robert Lawrence Kuhn | Long-term adviser to China's leaders su 4 sss:

QUEST MEANS
‘BUSINESS

November 2017

JACK MA: TRADE WAR COULD LAST 20 YEARS [fe

DAX A 61.26
QUEST MEANS

BUSINESS

HOUSE_OVERSIGHT_026875

"
IMAGES-006-HOUSE_OVERSIGHT_021187.txt,"and headed to my car with T.J in tow. For the rest of the night he was
oddly quiet and asked to be dropped off at his parent’s house, I was more
than obliged to do so. I couldn’t stand the sight of him let alone want to
be around him tonight. Being so revved up it didn’t yet dawn on me that
something wasn’t right. The next morning I was woken up by an alerting
phone call, | had the manager from the restaurant where I worked, on the
other end screaming at me and asking where the money is. I sat up in bed,
completely awake now, and asked him back, “What are you talking
about, what money?” His tone had calmed a bit and he could hear the
eamestly in my voice and explained his accusations “The tip jar was
empty after you had left last night and there was over a hundred and fifty
dollars in there, now it’s missing”. The answer hit me instantly and I got
a terrible knot in my stomach...T.J. When I left him at the bar not even
thinking about the tip bowl to talk with the manager, he saw an
opportunity to fund more drugs and he took it. That’s why he didn’t even
want to come back to my apartment last night. It was all too clear for me
now and I tried to explain to my manager about my boyfriend’s sickness
and asked him to take the lost money out of my wages. “I have no choice
but to let you go and file a police report for the missing money”. I
couldn’t believe what I was hearing. How did things tum upside down so
quickly? I exclaimed “Even though I’m paying you from my pocket for
money I didn’t even steal and you’ve never even had any problems from
me before?”. His apologies were short and icy, nothing that could be
done. I slammed down the receiver only to pick it up again to dial T.J’s
parents house and to no surprise he hadn’t slept there last night and was
not able to be reached. J felt like I was in a bad dream I couldn’t wake up
from and with no money to pay rent, eat, or even survive, | was back to
the drawing board.

The week passed without hearing from T.J, he was in hiding, for now.
When the phone rang early one morning [ expected it to be him, instead it
was a surprise phone call from a familiar voice. Jeffrey decided to give
me a call to invite me over to his Palm Beach mansion for some lunch
and to catch up, it really was just his way of finding out if | was cleaned
up and ready to come back to work for him. With my life in chaos once
again and having to borrow money off my parents for grocery food, I saw
a quick solution to my situation and was even convinced this is what I
had to do to take care of myself.

He greeted me at the door and led me inside. Ghislane was at her usual
spot, her desk working away, and we headed past her with a quick wave
and lip-synced a “Hello”, not wanting to disturb her important sounding
phone call. She glanced up quickly and gave a brisk wave my way, then
put her attention back to the computer. Once we were inside the poolside
cabana, which was Jeffrey’s office, & gym, Jeffrey took a seat behind his

85

\ Copyright Protected Material
CONFIDENTIAL GIUFFREO0$218

desk and told me to have a seat across from him. He took a sip of water
from an already poured glass and asked if I'd like some. “Yes, Thank
you” My reply was short and polite, already just wanting to get this
meeting done and over with. His face was like steel and his expressions
were stern, I felt like a child in trouble sitting in the principles office.

He cut straight to the chase wanting to know “Are you on drugs
anymore?” There was a moment’s pause as | took a deep breath and told
him the entire truth. “I got really depressed for awhile and coped with my
emotions by blanketing them with mind-altering substances. Just smoking
ajay to relax wasn’t good enough anymore. | needed to be high and
flying to believe I was happy and dealing with all of life’s curveballs.
Snorting things like coke and popping amphetamines replaced my
sorrows with an overflow of endorphins, making it possible to keep up
with everything, until | would come down and the cycle just kept on
repeating itself”.

He listened to me continue to tell him about the good things that have
come from the break. Like my dog, yoga, and working at a restaurant,
making lots of new friends but most of all, I got my smile back, without
the drugs this time. He was really happy to hear the upside of everything,
but there was one thing I was reluctant to tell him about. My recent
travail that T.J effortlessly caused at the restaurant where I was so happily
employed. As my manager had warned he had to file a police report
stating that after I had left, the tips were gone, putting the blame solely on
me.

Giving Jeffrey a clear picture of the entire ordeal he exclaimed “What
are you doing with this idiot Jenna, he is no good for you! I know you can
do better for yourself, why do you let him drag you down every time?”
Nodding my head in concurrence I went on to finish my epic drama. “T
received a phone call from the PBCP asking me to come in about the
money, I told them what happened over the phone but they still want me
to come in. I don’t want to have a record for something I never did or
ever would do!’ I put my face into my hands and covered the tears now
trickling down my cheeks. “I just can’t believe this is happening to me
when everything has been going so uphill, now I’m out of work and in
trouble” I wiped my face and looked up at him “ What do I do?” Enabling
him as my mentor once again, his sly grin said it all. Jeffrey normally
hated when girls made waves in any way and this one would be
considered a tsunami but this time it worked to his favor. He wanted me
to come back to work for him, continuing my massage studies and I
needed his help. In his eyes he was doing me a solid, which in return [
would have to scratch more than his back for. Taking his time to
contemplate what to respond back and what solution he could offer, |
began to worry that maybe | shouldn’t have done this.

86

O Copyright Protected Material

GIUIFRE004219.

HOUSE_OVERSIGHT_021187
"
IMAGES-012-HOUSE_OVERSIGHT_032864.txt,"From: jeffrey E. [jeevacation@gmail.com]
Sent: 5/10/2016 8:17:34 PM
To: Peter Thiel

trump delegate? fun

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_032864
"
IMAGES-005-HOUSE_OVERSIGHT_019878.txt,"For Victoria and Louise, mother and daughter

HOUSE_OVERSIGHT_019878
"
IMAGES-002-HOUSE_OVERSIGHT_013835.txt,"Great cook =»make Christmas dinner without help

Fluent in Chinese —have a five-minute conversation
with a Chinese co-worker

4, What are the four dreams that would change it all?
Using the 6-month timeline, star or otherwise highlight the four most exciting and/or important dreams
from all columns. Repeat the process with the 12-month timeline if desired.

5. Determine the cost of these dreams and calculate your Target Monthly Income (TMI) for both
timelines.

If financeable, what is the cost per month for each of the four dreams (rent, mortgage, payment plan
installments, etc.)? Start thinking of income and expense in terms of monthly cash flow—dollars in and
dollars out—instead of grand totals. Things often cost much, much less than expected. For example, a
Lamborghini Gallardo Spyder, fresh off the showroom floor at $260,000, can be had for $2,897.80 per
month. I found my personal favorite, an Aston Martin DB9 with 1,000 miles on it, through eBay for

$136,000—$2,003.10 per month. How about a Round-the-World trip (Los Angeles... Tokyo ...

Singapore . . . Bangkok . . . Delhi or Bombay . . . London. . . Frankfurt . . . Los Angeles) for $1,399?
For some of these costs, the Tools and Tricks at the end of Chapter 14 will help.

Last, calculate your Target Monthly Income (TMI) for realizing these dreamlines. This is how to do it:
First, total each of the columns A, B, and C, counting only the four selected dreams. Some of these
column totals could be zero, which is fine. Next, add your total monthly expenses x 1.3 (the 1.3
represents your expenses plus a 30% buffer for safety or savings). This grand total is your TMI and the
target to keep in mind for the rest of the book. I like to further divide this TMI by 30 to get my TDI—
Target Daily Income. I find it easier to work with a daily goal. Online calculators on our companion site
do all the work for you and make this step a cinch.

Chances are that the figure is lower than expected, and it often decreases over time as you trade more
and more “having” for once-in-a-lifetime “doing.” Mobility encourages this trend. Even if the total is
intimidating, don’t fret in the least. I have helped students get to more than $10,000 per month in extra
income within three months.

Sample Dreamline

HOUSE_OVERSIGHT_013835
"
IMAGES-001-HOUSE_OVERSIGHT_011242.txt,"Cristina_Cus | Goita! El primer que m'han plantufat avui nomA@s 23 Jun 2016, | SarriA - 0 | positive
co arribar a la City (previa pregunta, of course)#Brexit 15:47 - CEST | Barcelo
https://t.co/rNW2zzxij5k na -
Catalun
ya
aspland&86 RT @Wotamoron: Us at moron think all mp's are alla | 23 Jun 2016, | England 83 | negative
waste of time but here is our fav #Brexit 15:47 - CEST
https://t.co/rydH1v8YN2
ha43zu RT @nhk_news: a€PlafOa, naf—af—afa,° 23 Jun 2016, | we+ta2- 138 | negative
4,84, °Af24,'arhee‘aeSec¥ a€‘ 15:47 - CEST
A€ceé Ce, tAP°6ELEZ—
4€AR ey-aRRAa, AM ar ar ar“aeas oVarKae%A,-
ab§abl a€fa,nd,°af2a,'a»¥an—
afl«a, aPPliarl® ace aPmhanc a2farick anf al | AP, AP“AaR™ a€,
https://t.co/IPb62D4Vub #nhk_news
https://t.co/KLyKnT5vhi
Trev_Forres | The question is In or Out #LeaveEU #Brexit #Stayln 23 Jun 2016, | England 0 | positive
ter 15:47 - CEST
meifanOshiz | afCkat...4°24,,zeSec¥ ej Cabana, abtah§Brexitae 4 | 23 Jun 2016, | 4,- 0 | negative
hong AO©att arl2a, a2<4,,,a,%oa€, 15:47 - CEST | an®ee—
é,74,¢a
e™C/¢2
“e%olze
ce at’ce
area®y
e°j
vmorillo ""Quiz: The 4€” Brexita€™ Vote Is Here. How Much Do 23 Jun 2016, | En algun 0 | positive
You Know?"" by STEVEN ERLANGER and HANNAH 15:47 - CEST | lugar dla
OLIVENNES via NYT https://t.co/7UCIEqGJzQ Mancha
creo
asif Oh shit. #Brexit #BrexitOrNot #VoteRemain 23 Jun 2016, | LON/DX 0 | negative
https://t.co/Zg3z6FmR59 15:47 - CEST | B/DAR/
NBO
AU_bebe #UK #Brexit VILE Billionaire Open Borders Funder 23 Jun 2016, | Proud 0 | positive
Soros Tells Britain To Stay In EUa€” Or Else 15:47 - CEST | Auburn
For SOROS #VoteLeave https://t.co/GNWPqHLcHT Tiger.
War
Eagle!
dbenie RT @MarketWatch: Stocks in rally mode as Brexit vote | 23 Jun 2016, | NY 11 | positive
gets under way https://t.co/UyUgxRNBgu 15:47 - CEST
BrendaPach | RT @eleconomista: Con o sin #Brexit, la UniA?n 23 Jun 2016, | Mexico 4 | negative
ecoP Europea no serAj la misma... Te decimos por quAO: 15:47 - CEST | city
https://t.co/YAaaBaSdmU https://t.co/7pCfC4U3a€ |
AnnaSophia | RT @ltalians4Trump: God Seems to Be Voting for 23 Jun 2016, | Toronto 11 | positive
_TOPS Brexit Breitbart 15:47 - CEST
GOD WE NEED YOU AT THIS MOMENT!
#VoteLeave #Leave #Brexit #EURef https:/a€ |
Choodleum @JohnClarke1960 @YourMrBumbles Born in London 23 Jun 2016, | Cornwal 0 | positive
ma in '32 | soon learnt who could be trusted & who could | 15:47-CEST | |

not. Brexit leaders r not to be trusted.

HOUSE_OVERSIGHT_011242
"
IMAGES-005-HOUSE_OVERSIGHT_020021.txt,"14

SITUATION ROOM

ust before seven o’clock on the morning of Tuesday, April 4, the seventy-fourth day of
J the Trump presidency, Syrian government forces attacked the rebel-held town of Khan
Sheikhoun with chemical weapons. Scores of children were killed. It was the first time a
major outside event had intruded into the Trump presidency.

Most presidencies are shaped by external crises. The presidency, in its most critical
role, is a reactive job. Much of the alarm about Donald Trump came from the widespread
conviction that he could not be counted on to be cool or deliberate in the face of a storm.
He had been lucky so far: ten weeks in, and he had not been seriously tested. In part this
might have been because the crises generated from inside the White House had
overshadowed all outside contenders.

Even a gruesome attack, even one on children in an already long war, might not yet be
a presidential game changer of the kind that everyone knew would surely come. Still,
these were chemical weapons launched by a repeat offender, Bashar al-Assad. In any other
presidency, such an atrocity would command a considered and, ideally, skillful response.
Obama’s consideration had in fact been less than skillful in proclaiming the use of
chemical weapons as a red line—and then allowing it to be crossed.

Almost nobody in the Trump administration was willing to predict how the president
might react—or even whether he would react. Did he think the chemical attack important
or unimportant? No one could say.

If the Trump White House was as unsettling as any in American history, the president’s
views of foreign policy and the world at large were among its most random, uninformed,
and seemingly capricious aspects. His advisers didn’t know whether he was an isolationist
or a militarist, or whether he could distinguish between the two. He was enamored with
generals and determined that people with military command experience take the lead in
foreign policy, but he hated to be told what to do. He was against nation building, but he
believed there were few situations that he couldn’t personally make better. He had little to
no experience in foreign policy, but he had no respect for the experts, either.

HOUSE_OVERSIGHT_020021
"
IMAGES-011-HOUSE_OVERSIGHT_032404.txt,"From: Bruce Moskowitz [as

Sent: 1/1/2017 12:44:33 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Chatter

Importance: — High
when you bring a donkey to the Kentucky derby you won't get into the starting gate and you certainly won't

cross the finish line. This donkey brought four racehorses who will get to the finish line!
This was my major role hopefully we have a way forward.

https://ww

Sent from my iPhone

On Dec 31, 2016, at 7:16 PM, jeffrey E. <jeevacation@gmail.com> wrote:

Fun?

On Sat, Dec 31, 2016 at 7:57 PM Bruce Moskowitz EE Otc:

FYI you were right. Happy New Year.

Sent from my iPad

Bruce Moskowitz M.D.

HOUSE_OVERSIGHT_032404
"
TEXT-002-HOUSE_OVERSIGHT_032274.txt,"From: Richard Kahn 
Sent: 7/14/2016 11:59:52 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Importance: High 
funny you sent as i just read and saw Peter Thiel speaking 
i am hoping he will have some surprises as well.. 
polls getting closer.. 
General Election: Trump vs. Clinton 
General Election: Trump vs. Clinton 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
tel I 
fax 
cell 
CBS News/NY Times Clinton 40, Trump 40 Tie 
Economist/YouGov Clinton 45, Trump 43 Clinton +2 
On Jul 14, 2016, at 7:27 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
http://www.nytimes.com/2016/07/14/us/politics/republican-convention-speakers-donald-trump.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 032274 
"
IMAGES-002-HOUSE_OVERSIGHT_014182.txt,"a
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HOUSE_OVERSIGHT_014182
"
IMAGES-006-HOUSE_OVERSIGHT_022465.txt,"a

vox.com / Kaitlyn Tiffany When Kimberly Matte captions an
Instagram post “suns out, guns out, buns out,” she mostly means it. The

sun may be out, but she’s inside. Her buns are...

HOUSE_OVERSIGHT_022465
"
IMAGES-002-HOUSE_OVERSIGHT_013606.txt,"2? +0 x 2'+0 x 2°(in which the last term, arbitrarily, is 2° = 1, since anything to
the power O = 1). This can be written even more simply as a series of 0’s or 1’s,
their presence indicating whether the power represented by each place in the left to
right descending sequence of powers of two participates in the sum of the partition.
It is in this way that in binary numbers, 100 = 110010. As another example, if we
similarly partition the decimal number 729 = 512 (2°) + 128 (2”) + 64 (2°) + 16 (2°) +
8 (2°) + 1(2°), we find that its binary transformation results in 729 = 1011011001,
the 0’s representing the descending powers of two that are absent in the powers of
two partition. One can compute the binary representations of lower valued numbers
immediately; for example, 4 = 1 x 27 +0 x 2'+0 x 2°s0 that there is a 1 in the
multiply-the-power-of- two column and 0 the power 1 and power O columns so in
binary representation, 4 = 100. Similarly, 6 = 1 x 22+ 1 x 2'+0 x 2° making the
binary transformation of 6 = 110.

It was the co-inventor (with Isaac Newton) of the calculus, Gottfried Wilhelm
Leibniz, in about 1665, who fully developed the binary representation of all decimal
numbers. |n a state of wonderment about the simplicity, power and completeness of
this 1 and 0 encoding, he is said to have the beliefs that 0 symbolized the
emptiness of the universe’s beginnings, 1 represented the complete fullness of God
and that this transformation served as metaphoric evidence consistent with God’s
creation of the universe out of nothing.

The simplicity of binary expressions as in the dynamics of hard spheres or
rotations on the circle as well as the transformations such as 729 = 1011011001
make them propitious for exemplifying the methods for computing the entropies of
the growth rate of the possible, called the topological entropy, Hr, and the probable,
the metric entropy, Hy, which was introduced in a previous chapter called “Sensual
In-Between Entropies.” The following exemplify the computations of measures of
topological and metric entropies, Hr and Hy, another computable idea called
algorithmic complexity, AC and finally, the well known (to statisticians) standard run
score, src. Their descriptions have as their purpose a demonstration for the reader
that these apparently abstract, perhaps nebulous sounding, words can be

transformed into well-defined, concrete, quantitative and computable form of reality.

106

HOUSE_OVERSIGHT_013606
"
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HOUSE_OVERSIGHT_014169
"
TEXT-001-HOUSE_OVERSIGHT_030630.txt,"From: 
Sent: 7/8/2016 8:10:26 PM 
To: jeffrey epstein [jeeyacation@gmail.com] 
Subject: News 
Attachments: IMG_4903.moy; Untitled attachment 378917.txt 
Importance: High 
Hi Jeffrey ! 
Here is a short video of me sailing under Golden Gate Bridge with my Stanford friends. Really rett : 
can't express how happy I am to be here. Totally over the moon every day going to 
and exploring the area. 
Now I'm on the way to Tuscon to visit whose info I sent you for assistant r,osition. She 
would love to pass interviews with you. She is smart and easy, her mum produced movie so 
knows a lot in film industry too besides other assets. 
What happens with zubair's project ? Do you believe it can be used in H.clinton's campaign or the Trump's 
one to help her/ him win elections ? His goal is to propose it to them to find out in which states, what 
kind of people should be targeted to collect votes. He says that his algorithms can figure reasons why a 
category of people vote against a candidate and to help candidate to adapt the campaign to the people's 
preferences...well, to win elections at the end! 
HOUSE OVERSIGHT 030630 
"
TEXT-002-HOUSE_OVERSIGHT_033181.txt,"﻿Donald Trump Used Legally Dubious Method to Avoid Paying Taxes
Photo
Donald J. Trump in Atlantic City in 1990, seeking approval for his Trump Taj Mahal casino. Credit Associated Press
Donald J. Trump proudly acknowledges he did not pay a dime in federal income taxes for years on end. He
insists he merely exploited tax loopholes legally available to any billionaire — loopholes he says Hillary
Clinton failed to close during her years in the United States Senate. “Why didn’t she ever try to change
those laws so I couldn’t use them?” Mr. Trump asked during a campaign rally last month.
But newly obtained documents show that in the early 1990s, as he scrambled to stave off financial ruin,
Mr. Trump avoided reporting hundreds of millions of dollars in taxable income by using a tax avoidance
maneuver so legally dubious his own lawyers advised him that the Internal Revenue Service would most
likely declare it improper if he were audited.
Thanks to this one maneuver, which was later outlawed by Congress, Mr. Trump potentially escaped
paying tens of millions of dollars in federal personal income taxes. It is impossible to know for sure
because Mr. Trump has declined to release his tax returns, or even a summary of his returns, breaking a
practice followed by every Republican and Democratic presidential candidate for more than four decades.
Tax experts who reviewed the newly obtained documents for The New York Times said Mr. Trump’s tax
avoidance maneuver, conjured from ambiguous provisions of highly technical tax court rulings, clearly
pushed the edge of the envelope of what tax laws permitted at the time. “Whatever loophole existed was
not ‘exploited’ here, but stretched beyond any recognition,” said Steven M. Rosenthal, a senior fellow at
the nonpartisan Tax Policy Center who helped draft tax legislation in the early 1990s.
Graphic
Mr. Trump managed to save millions in
personal taxes by borrowing – then losing
– other people’s money.
Moreover, the tax experts said the maneuver trampled a core tenet of
American tax policy by conferring enormous tax benefits on Mr. Trump
for losing vast amounts of other people’s money — in this case, money
investors and banks
had entrusted to him to build a casino empire in
Atlantic City.
Continue reading the main story
OPEN Graphic
"
IMAGES-005-HOUSE_OVERSIGHT_019893.txt,"“No way we'll get fifty million unless we can guarantee him victory,” said a clear-eyed
Kushner.

“Twenty-five million?” prodded Bannon.
“If we can say victory 1s more than likely.”

In the end, the best Trump would do is loan the campaign $10 million, provided he got
it back as soon as they could raise other money. (Steve Mnuchin, then the campaign’s
finance chairman, came to collect the loan with the wire instructions ready to go, so
Trump couldn’t conveniently forget to send the money.)

There was in fact no real campaign because there was no real organization, or at best
only a uniquely dysfunctional one. Roger Stone, the early de facto campaign manager, quit
or was fired by Trump—with each man publicly claiming he had slapped down the other.
Sam Nunberg, a Trump aide who had worked for Stone, was noisily ousted by
Lewandowski, and then Trump exponentially increased the public dirty-clothes-washing
by suing Nunberg. Lewandowski and Hope Hicks, the PR aide put on the campaign by
Ivanka Trump, had an affair that ended in a public fight on the street—an incident cited by
Nunberg in his response to Trump’s suit. The campaign, on its face, was not designed to
win anything.

Even as Trump eliminated the sixteen other Republican candidates, however far-
fetched that might have seemed, it did not make the ultimate goal of winning the
presidency any less preposterous.

And if, during the fall, winning seemed slightly more plausible, that evaporated with
the Billy Bush affair. “I’m automatically attracted to beautiful—I just start kissing them,”
Trump told the NBC host Billy Bush on an open mic, amid the ongoing national debate
about sexual harassment. “It’s like a magnet. Just kiss. I don’t even wait. And when you’re
a star they let you do it. You can do anything... . Grab them by the pussy. You can do
anything.”

It was an operatic unraveling. So mortifying was this development that when Reince
Priebus, the RNC head, was called to New York from Washington for an emergency

meeting at Trump Tower, he couldn’t bring himself to leave Penn Station. It took two
hours for the Trump team to coax him across town.

“Bro,” said a desperate Bannon, cajoling Priebus on the phone, “I may never see you
again after today, but you gotta come to this building and you gotta walk through the front
door.”

OOK Ok

The silver lining of the ignominy Melania Trump had to endure after the Billy Bush tape
was that now there was no way her husband could become president.

HOUSE_OVERSIGHT_019893
"
IMAGES-002-HOUSE_OVERSIGHT_012518.txt,"sor & Associates

‘Reporting and Transesiptics, Ins.

Twenty-one.
Very good.
What we're going to do today is we're going
to take what's know as a sworn statement from you. And |
my court reporter just put you under oath. So ail I want
you to do is tell the absolute truth today. d
A. Right. i
Q. I don't want you to color what you're
saying in any way. Really, the only thing that will be
of any use to anyone is if you just tell the absolute
truth. ; :
C 2 < Right. :
~ F So those are the instructions, okay?
A. Okay.
Q. All right. And sometimes -- I've been :
doing this for a lot of years and sometimes I talk like a
lawyer too much, and if you don't understand what I'm --
As That's your job. 5
Q. I guess. But if you don't understand what

I'm saying at some point, just say, ""Jack, say it in

English,"" and I'll make it better for you. Okay?

A. Okay.

QO. So tell me how you First met Jeffrey ql

HOUSE_OVERSIGHT_012518
"
IMAGES-005-HOUSE_OVERSIGHT_018555.txt,"way -- that is, it can ironically be harder for abuse survivors to talk about abuse within the
BDSM community because the community is pushing back so hard against the stereotype
of abusive BDSM. I've spoken to BDSMers who feel that the S&M community
pushes back far too hard, and that survivors are being aggressively silenced simply
because the rest of us are so invested in fighting mainstream stereotypes. I have
never personally experienced this, but I would not be surprised if I did. And the fact is
that I'm sure there are toxic dynamics in some BDSM communities -- we aren't a
monolith, folks -- and that even in 100% awesome communities, I'm sure there are at
least a few abusive relationships. And even one abusive relationship in the community
is obviously too many.

As Thomas MacAulay Millar wrote when the most recent abusive BDSM case hit the
media, ""Our declaration that the abusers are not us has to be substantive."" This is
something we should be taking action on. But how?

te ok ok

Dynamics Within the Community

I have personally had excellent experiences within the S&M community. However, I am
also pretty thick-skinned (unfortunately, this is partly due to lots of time spent working in
a sexist industry); and I have a well-developed sense of my own boundaries. I am saying
this not to sound self-congratulatory but because I believe that, due to being thick-
skinned, I may be less bothered by actual harassment and pressuring dynamics than
others are. Also, I am lucky enough that I've never experienced an assault. Therefore, it's
incumbent upon me to listen to how other S&Mers -- especially female or genderqueer
S&Mers -- feel about their experiences being pressured within the community.

There are issues that even I have noticed. For example, I think that there is a distasteful
tendency to talk about ""real BDSM"" or ""serious BDSM,” as if some S&M is more
legitimate than other S&M. That's wrong and dangerous because it can make some
people feel as though they have to push past their boundaries -- do things they aren't
comfortable with -- in order to be accepted, liked, or seen as ""real."" On the rare occasions
that I encounter this, I try to point out the problems right there and then. There is no such
thing as ""more real"" and ""less real"" S&M. The only truly important part about any
S&M activity is that it happen among enthusiastic, consenting adults.

Thomas once wrote to me by email that ""I tend to think that the dynamics of abuse in the
community are a combination of the desire to avoid washing our laundry in public,
patriarchy colonizing our own, and the usual thing in small communities where people's
willingness to do the right thing in theory bumps up against their personal friends and
loyalties.” I completely agree. I'd add that similar issues arise in almost all small
communities, and it's not fair to blame S&M in itself for these problems. At the same
time, though, it's incumbent upon all BDSMers to contribute to an environment
where people who don't want to participate can easily say ""no"", and can rely on
being supported by others when they do.

te ok ok

Existing Anti-Abuse Initiatives in the BDSM Community

HOUSE_OVERSIGHT_018555
"
IMAGES-003-HOUSE_OVERSIGHT_016337.txt,"reasoning without having to hire a programmer for each problem. Wiener recognized the
role of feedback in machine learning, but he missed the key role of representation. It’s
not possible to store all possible images in a self-driving car, or all possible sounds in a
conversational computer; they have to be able to generalize from experience. The “deep”
part of deep learning refers not to the (hoped-for) depth of insight but to the depth of the
mathematical network layers used to make predictions. It turned out that a linear increase
in network complexity led to an exponential increase in the expressive power of the
network.

If you lose your keys in a room, you can search for them. If you’re not sure
which room they’re in, you have to search all the rooms in a building. If you’re not sure
which building they’re in, you have to search all the rooms in all the buildings in a city.
If you’re not sure which city they’re in, you have to search all the rooms in all the
buildings in all the cities. In AI, finding the keys corresponds to things like a car safely
following the road, or a computer correctly interpreting a spoken command, and the
rooms and buildings and cities correspond to all of the options that have to be considered.
This is called the curse of dimensionality.

The solution to the curse of dimensionality came in using information about the
problem to constrain the search. The search algorithms themselves are not new. But
when applied to a deep-learning network, they adaptively build up representations of
where to search. The price of this is that it’s no longer possible to exactly solve for the
best answer to a problem, but typically all that’s needed is an answer that’s good enough.

Taken together, it shouldn’t be surprising that these scaling laws have allowed
machines to become effectively as capable as the corresponding stages of biological
complexity. Neural networks started out with a goal of modeling how the brain works.
That goal was abandoned as they evolved into mathematical abstractions unrelated to
how neurons actually function. But now there’s a kind of convergence that can be
thought of as forward- rather than reverse-engineering biology, as the results of deep
learning echo brain layers and regions.

One of the most difficult research projects P ve managed paired what we’d now
call data scientists with AI pioneers. It was a miserable experience in moving goalposts.
As the former progressed in solving long-standing problems posed by the latter, this was
deemed to not count because it wasn’t accompanied by corresponding leaps in
understanding the solutions. What’s the value of a chess-playing computer if you can’t
explain how it plays chess?

The answer of course is that it can play chess. There is interesting emerging
research that is applying AI to AI—that is, training networks to explain how they operate.
But both brains and computer chips are hard to understand by watching their inner
workings; they’re easily interpreted only by observing their external interfaces. We come
to trust (or not) brains and computer chips alike based on experience that tests them
rather than on explanations for how they work.

Many branches of engineering are making a transition from what’s called
imperative to declarative or generative design. This means that instead of explicitly
designing a system with tools like CAD files, circuit schematics, and computer code, you
describe what you want the system to do and then an automated search is done for
designs that satisfy your goals and restrictions. This approach becomes necessary as
design complexity exceeds what can be understood by a human designer. While that

117

HOUSE_OVERSIGHT_016337
"
IMAGES-012-HOUSE_OVERSIGHT_033549.txt,"a

theguardian.com / Anya Alvarez When we talk about hiking, we
typically think about escaping urban confines and exploring land less

touched by humanity. We envision walking through...

A Soccer Ball Can Tell a Story | By Alex
Morgan

HOUSE_OVERSIGHT_033549
"
IMAGES-007-HOUSE_OVERSIGHT_023332.txt,"and pwe 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 ll
Leon,

Yesterday , | 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 Ilc'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 , asarule 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. ete 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 ) Iam 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 Ihave 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

HOUSE_OVERSIGHT_023332
"
IMAGES-008-HOUSE_OVERSIGHT_025060.txt,"support other parallel solutions, including
the political one. But FSA [has] become a
jungle. ... My recommendation is... to
start working on elite [forces that can]...
initiate key attacks plus help as a buffer
from potential warlords and fights among
fragmented FSA factions. Plus, this unit
can handle other key tasks, like securing
chemical weapons.”

This Syrian strategist argues in another
memo that the rebels must “speak to the
silent majority, many who did not care
about the revolution, and they want their
life back.” He said that such a negotiated
settlement requires more pressure on the
United States, Russia and the United
Nations “to find a way out of the
deadlock.”

Article 5.

Foreign Policy

Why Does Europe
Pretend Hezbollah Has a

Good Side?

Matthew Levitt

HOUSE_OVERSIGHT_025060
"
TEXT-002-HOUSE_OVERSIGHT_031796.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 6/15/2018 1:26:04 PM 
To: Richard Kahn_________________________________ 
Subject: Re: Trump advisors reportedly seeking a pardon for 'junk bond king' Milken 
Importance: High 
Did we get bank appraisal ayh 
On Fri, Jun 15, 2018 at 9:06 AM Richard Kahn < 
> wrote: 
https://www.cnbc.com/2018/06/15/trump-advisors-reportedly-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 
HOUSE OVERSIGHT 031796 
Fax 
Cell 
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 031797 
"
IMAGES-012-HOUSE_OVERSIGHT_032657.txt,"From: Darren Indykc

Sent: 11/17/2017 6:34:33 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re:

Importance: — High

Privileged - Redacted

DARREN K. INDYKE
DARREN K. INDYKE, PLLC
575 Lexington Avenue, 4th Floor
New York, New York 10022
Telephone:
Telecopier:
Mobile:

*#* Please note that my mobile telephone number has changed to the new number provided above. ***

Be ee eee eee ee ee ee i ee ee ee ee ee ee ee ee
Big 2s 2s 2g 3s Is 2k 3s 2 2s 2g 2k

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 - © 2017 Darren K.

Indyke, PLLC — All rights reserved.

Be ee ee ee ee ee ee ee ee ee ee ee ee ee ee
BS 2fS 3S 2k DIS 2 2S I 2k is 2c 2s 2k

On Nov 16, 2017, at 3:46 PM, jeffrey E. <jeevacation@gmail.com> wrote:

Privileged - Redacted

i i
Ibparecsear pene per ctea tania teas aes eat panes sie peares tea ne tee he tet ty tat niu eee cas ase Rees a ges ec i ec ty a ty a ES aS ea es ee es ea tea te a ty a En tS ates rep ares sea eat tes tat as ay piesa bass 2

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_032657
"
TEXT-001-HOUSE_OVERSIGHT_022234.txt,"From: MOMMINNEMUMMIN 
Sent: Tuesday, March 8, 2011 8:32 PM 
To: Jeffrey Epstein 
Subject: Re: 
Importance: High 
? Good for you. And ghislaine. congrats 
From: Jeffrey Epstein <ieeyacation  gmail.com> 
To____________________________ 
Sent: Tue, March 8, 2011 3:27:58 PM 
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.vanityfair.com/contributors/vicky-ward> 
""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 
1 
HOUSE OVERSIGHT 022234 
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 
all sorts of blemishes. 
2 
HOUSE OVERSIGHT 022235 
--
*********************************************************** 
The information contained in this communication is 
confidential, 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 
3 
HOUSE OVERSIGHT 022236 
"
IMAGES-003-HOUSE_OVERSIGHT_014520.txt,"TAX ALERT 2016-5: THE 2016 ELECTION: TAX CHANGES EXPECTED

e Roth conversions. It is generally better to convert traditional retirement funds to a Roth IRA in a
lower tax rate environment rather than a higher rate environment. For taxpayers who converted a
traditional IRA to a Roth IRA in 2016, the normal rules will provide a chance to review whether 2016
or 2017 would be the better year for a conversion. Generally, a 2016 conversion can be unwound
(“recharacterized”) as late as October 16, 2017. Following a recharacterization, the IRA could again
be converted to a Roth IRA 30 days later (assuming the original conversion occurred in 2016). Thus,
you could wait until October 2017 to determine whether 2016 or 2017 would be the better year for
conversion based on the relative tax rates, changes in the market value of the retirement funds and
other relevant considerations. If 2016, then you could let the 2016 conversion remain. If 2017, you
could “recharacterize” in October of 2017 and re-convert 30 days later.

ESTATE AND GIFT TAX

Current law. Under current law, the federal exemption for estate and gift tax is $5 million, subject to an inflation
adjustment each year. For 2016, the exemption is $5,450,000, and for 2017, it is $5,490,000. For gifts or estates
above the exemption, the federal tax rate is 40%. If an appreciated asset is includible in the estate, it generally
receives a step-up in basis for income tax purposes equal to the fair market value at death. Accordingly, there
would be little or no capital gains tax for appreciated assets sold soon after death.

Proposals. President-elect Trump has proposed to repeal the estate tax. The House Republicans’ Tax Proposal
also proposes federal estate tax repeal. It would appear that such repeal would be temporary, unless the tax
changes proposed can be enacted on a revenue neutral basis.’ It is not clear whether the federal gift tax would
also be repealed. The federal gift tax may be viewed as serving two purposes. First, it serves to support the estate
tax, because without it you could make unlimited gifts during your life and thereby avoid federal estate tax at
death. From that perspective, repealing the estate tax would suggest that the gift tax would also be repealed.
However, the gift tax also serves to support the federal income tax. Without a gift tax, income-producing property
could be given to family members or others in a lower tax bracket (or residing in a state without an income tax),
and subsequently given back. From that perspective, repealing the estate tax would not suggest that the gift tax
also be repealed. Neither President-elect Trump’s proposal nor the House Republicans’ Tax Proposal includes a
repeal of the gift tax.

As noted, appreciated assets includible in the estate generally receive a step-up in basis. President-elect Trump
has proposed to change this, however specific details have not been offered. The proposal sets forth a $10 million
exemption for gains at death. It is not clear whether this exemption is for each decedent, or if that is the combined
exemption for a married couple. It is also not clear whether any gains above the exemption would be subject to
capital gains tax at death (in effect a deemed sale at fair market value), or only subsequently when the asset is
actually sold. It is also uncertain whether any unused exemption could be transferred to a surviving spouse.

2 In order to comply with the Reconciliation procedure, the repeal needs to “sunset,” resulting in reinstatement of the estate
tax after approximately 10 years. Under the 2001 Tax Act, there was a temporary repeal of the estate tax (and other taxes)
for this reason. Reconciliation rules will likely also add pressure to produce a revenue-neutral tax bill in order to avoid such a
“sunset.” That could cause Congress to abandon repealing the estate tax.

HOUSE_OVERSIGHT_014520
"
IMAGES-011-HOUSE_OVERSIGHT_031680.txt,"From: J [jeevacation@gmail.com]
Sent: 12/13/2018 10:02:38 PM

Federal prosecutors are investigating whether U.S. President Donald Trump's inaugural
committee misspent some of the funds it raised, the Wall Street Journal reported on
Thursday, citing people familiar with the matter.

The probe opened by the Manhattan U.S. attorney's office is examining whether some of the
committee's donors gave money in exchange for policy concessions, influencing
administration positions or access to the incoming administration, the Journal said.

Read Newsmax: WSJ: Federal Prosecutors Probing Trump Inauguration Spending

Urgent: Do you approve of Pres. Trump’s job performance? Vote Here 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

destroy this communication and all copies thereof,

including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_031680
"
IMAGES-009-HOUSE_OVERSIGHT_027558.txt,"Sender: e:jeeitunes@gmail.com

Time: 12/06/18 03:41:14 PM (565832474)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: EH6CF6910-098F-4FA5-8A45-DEF10694B3ED

Message: So to speak

Sender: e:jeeitunes@gmail.com

Time: 12/06/18 03:41:52 PM (565832512)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: BEAF2347-66FF-407C-9AAF-B600B9DCF884

Message: James Watson. All in, he said to hurt before he dies

Sender: e:jeeitunes@gmail.com

Time: 12/06/18 03:41:57 PM (565832517)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 6DAD1403-006F-4234-ADA7-7A8E1356B923

Message: Hurry

Sender: ay

Time: 12/06/18 03:50:19 PM (565833019)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: FBFC9146-1521-4593-8B17-45067C68C6D5

Message: How old is he ???--- I can film in 10 days

Sender: e:jeeitunes@gmail.com

Time: 12/06/18 03:50:26 PM (565833026)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 22FF4124-3830-4DF8-B8F4-FAC90CC93874

Message: 90

Time: 12/06/18 03:51:36 PM (565833096)

HOUSE_OVERSIGHT_027558
"
IMAGES-004-HOUSE_OVERSIGHT_016657.txt,"TREATMENT PROCESSES

- wells can be located near the plant. No ‘
existing users to cause interference (today).

| T- disposable 5 micron cartridge
filters, pH adjustment, & scale inhibitor.

S — Low Pressure Reverse Osmosis
elements require less power to push water thru scree

aaron inet subaqueous cr

HOUSE_OVERSIGHT_016657
"
IMAGES-011-HOUSE_OVERSIGHT_031858.txt,"2D

Article 7.

STRATFOR

The Geopolitics of Israel: Biblical and
Modern

The founding principle of geopolitics is that place — geography —
plays a significant role in determining how nations will behave. If
that theory is true, then there ought to be a deep continuity in a
nation's foreign policy. Israel is a laboratory for this theory, since it
has existed in three different manifestations in roughly the same
place, twice in antiquity and once in modernity. If geopolitics is
correct, then Israeli foreign policy, independent of policymakers,
technology or the identity of neighbors, ought to have important
common features. This is, therefore, a discussion of common
principles in Israeli foreign policy over nearly 3,000 years.

For convenience, we will use the term ""Israel"" to connote all of the
Hebrew and Jewish entities that have existed in the Levant since the
invasion of the region as chronicled in the Book of Joshua. As
always, geopolitics requires a consideration of three dimensions: the
internal geopolitics of Israel, the interaction of Israel and the
immediate neighbors who share borders with it, and Israel's
interaction with what we will call great powers, beyond Israel's
borderlands.

Israel has manifested itself three times in history. The first
manifestation began with the invasion led by Joshua and lasted
through its division into two kingdoms, the Babylonian conquest of
the Kingdom of Judah and the deportation to Babylon early in the
sixth century B.C. The second manifestation began when Israel was
recreated in 540 B.C. by the Persians, who had defeated the
Babylonians. The nature of this second manifestation changed in the

HOUSE_OVERSIGHT_031858
"
IMAGES-004-HOUSE_OVERSIGHT_017549.txt,"YO-YO MA

Yo-Yo Ma’s multi-faceted career is testament to his continual
search for new ways to communicate with audiences, and
to his personal desire for artistic growth and renewal.
Whether performing new or familiar works from the
cello repertoire, coming together with colleagues for
chamber music or exploring cultures and musical forms
outside the Western classical tradition, Mr. Ma strives
to find connections that stimulate the imagination.

One of Mr. Ma’s goals is the exploration of music as
a means of communication and as a vehicle for the migrations
of ideas across a range of cultures throughout the world.
Expanding upon this interest, in 1998, Mr. Ma established
the Silk Road Project, a nonprofit arts and educational
organization. Under his artistic direction, the Silk Road Project
presents performances by the acclaimed Silk Road Ensemble,
engages in cross-cultural exchanges and residencies, leads
workshops for students, and partners with leading cultural
institutions to create educational materials and programs.

The Project’s ongoing affiliation with Harvard
University has made it possible to broaden and enhance
educational programming. In the 2011-2012 school year,
with ongoing partnerships with arts and educational
organizations in New York City, it continues to expand Silk
Road Connect, a multidisciplinary educational initiative
for middle-school students in the city’s public schools.
Developing new music is also a central undertaking of the
Silk Road Project, which has been involved in commissioning
and performing more than 60 new musical and multimedia
works from composers and arrangers around the world.

As the Chicago Symphony Orchestra’s Judson
and Joyce Green Creative Consultant, Mr. Ma is partnering
with Maestro Riccardo Muti to provide collaborative
musical leadership and guidance on innovative program
development for The Institute for Learning, Access and
Training at the Chicago Symphony Orchestra, and for Chicago
Symphony artistic initiatives. Mr. Ma’s work focuses on the
transformative power music can have in individuals’ lives,
and on increasing the number and variety of opportunities
audiences have to experience music in their communities.

Mr. Ma and the Institute have created the Citizen Musician
Initiative, a movement that calls on all musicians, music
lovers, music teachers and institutions to use the art form
to bridge gulfs between people and to create and inspire a
sense of community. www.citizenmusician.org features
stories of Citizen Musician activity across the globe.

Mr. Ma is also widely recognized for his strong
commitment to educational programs that bring the world
into the classroom and the classroom into the world.

While touring, he takes time whenever possible to conduct
master classes as well as more informal programs for
students—musicians and non-musicians alike. He has also
reached young audiences through appearances on “Arthur,”
“Mister Rogers’ Neighborhood” and “Sesame Street.”

Mr. Ma’s discography of over 75 albums (including
more than 15 Grammy Award winners) reflects his wide-
ranging interests. He has made several successful recordings
that defy categorization, among them “Hush” with Bobby
McFerrin, “Appalachia Waltz” and “Appalachian Journey”
with Mark O’Connor and Edgar Meyer and two Grammy-
winning tributes to the music of Brazil, “Obrigado Brazil”
and “Obrigado Brazil—Live in Concert.” Mr. Ma’s recent
recordings include Mendelssohn Trios with Emanuel Ax and
Itzhak Perlman. His new album, “The Goat Rodeo Sessions,”
with Edgar Meyer, Chris Thile and Stuart Duncan was
released in October 2011. Across this full range of releases,
Mr. Ma remains one of the best-selling recording artists in the
classical field. All of his recent albums have quickly entered
the Billboard chart of classical best sellers, remaining in
the Top 15 for extended periods, often with as many as four
titles simultaneously on the list. In fall 2009, Sony Classical
released a box set of over 90 albums to commemorate Mr.
Ma’s 30 years as a Sony recording artist.

Yo-Yo Ma was born in 1955 to Chinese parents living
in Paris. He began to study the cello with his father at age
four and soon came with his family to New York, where he
spent most of his formative years. Later, his principal teacher
was Leonard Rose at The Juilliard School. He has received
numerous awards, including the Avery Fisher Prize (1978),

the Glenn Gould Prize (1999), the National Medal of the
Arts (2001), the Dan David Prize (2006), the Sonning Prize
(2006), the World Economic Forum’s Crystal Award (2008)
and the Presidential Medal of Freedom (2010). In 2011 Mr.
Ma was recognized as a Kennedy Center Honoree. He was
the recipient of the 2012 Polar Music Prize. Appointed a
CultureConnect Ambassador by the United States Department
of State in 2002, Mr. Ma has met with, trained and mentored
thousands of students worldwide in countries including
Lithuania, Korea, Lebanon, Azerbaijan and China. Mr. Ma
serves as a UN Messenger of Peace and as a member of the
President’s Committee on the Arts & the Humanities. He
has performed for eight American presidents, most recently
at the invitation of President Obama on the occasion of the
56th Inaugural Ceremony. Mr. Ma and his wife have two
children. He plays two instruments, a 1733 Montagnana
cello from Venice and the 1712 Davidoff Stradivarius.

For additional information, see: www.yo-yoma.
com, www.silkroadproject.org, and www.opus3artists.com.

HOUSE_OVERSIGHT_017549
"
IMAGES-007-HOUSE_OVERSIGHT_023454.txt,"Date: Thursday, December 15 2011 02:57 AM
Subject: Re: The Edge Annual Question 2012 - Invitation (Confidential)

From: John Brockman FST

To: jeffrey epstein <jeevacation@gmail.com>;

Keep it coming. JB
On Dec 14, 2011, at 3:47 PM, jeffrey epstein wrote:

> Mathematics ideals are universal truths , biology is intrinsically based in deception . Predators in search of
free energy , would be able to decipher and consume , if it weren't couched ina multi layered encrypted form .
Even self deception acts as a defensive strategy. More later

>

> Sorry for all the typos .Sent from my iPhone

>

> On Dec 14, 2011, at 3:05 PM, John Brockman {nn wrote:
>

>> To: Paul Allen, Jeff Bezos, Sergey Brin. Hubert Burda, Steve Case. John Doerr, Jeffrey Epstein, Tony
Fadell, Bill Gates, Danny Hillis, Maja Hoffman, Bill Joy, Salar Kamangar, Dean Kamen, Vinod Khosla,
Marissa Mayer, Kary Mullis Elon Musk, Nathan Myhrvold, Pierre Omidyar, Larry Page, Sean Parker, Jean
Pigozzi, Nick Pritzker, Miuccia Prada, Eric Schmidt, Jacqui Safra, Ricardo Salinas Pilego, Charles Simonyi,
Jeff Skoll, Craig Venter, Jimmy Wales, Evan Williams, Mark Zuckerberg

>>

>> Re: The EDGE Annual Question 2012 - Invitation to participate

SS

>> In the summer of 2009, in a talk at the Bristol (UK) Festival of Ideas, Freeman Dyson articulated a vision for
the future. He referenced ""The Age Of Wonder"", by Richard Holmes, in which the first Romantic Age
described by Holmes was centered on chemistry and poetry, while Dyson pointed out that this new age is
dominated by computational biology. Its leaders, he noted, include ""biology wizards"" Kary Mullis, Craig
Venter, medical engineer Dean Kamen; and ""computer wizards"" Larry Page and Sergey Brin, and Charles
Simonyi. He pointed out that the nexus for this intellectual activity — the Lunar Society for the 21st century —
is centered around the activities of EDGE.

>>

>> Dyson continued to articulate his vision for a new age of biology ina related review inNew York Review of
Books in which he wrote: ""...a new generation of artists, writing genomes as fluently as Blake and Byron wrote
verses, might create an abundance of new flowers and fruit and trees and birds to enrich the ecology of our
planet. Most of these artists would be amateurs, but they would be in close touch with science, like the poets of
the earlier Age of Wonder. The new Age of Wonder might bring together wealthy entrepreneurs like Venter
and Kamen ... and a worldwide community of gardeners and farmers and breeders, working together to make
the planet beautiful as well as fertile, hospitable to hummingbirds as well as to humans.""

Sh

>> So, along these lines, who can best articulate the important issues questions we face today than the very
people who are, through their ideas and entrepreneurial zeal, changing the very nature of reality itself. Here's
the 2012 Annual Question. Before sending it out widely to the list, it's useful to seed the project with a dozen or
so interesting responses to provide examples and set a high bar. Even better, to inspire. How about it?? Hope to
hear from you. JB

‘obs

>>

>> THE WORLD QUESTION CENTER

>>

>> 2012: WHAT IS YOUR FAVORITE DEEP, ELEGANT, OR BEAUTIFUL EXPLANATION?

>>

>> http://edge.org/annual- question/what-is-your-favorite- deep-elegant-or-beautiful-explanation &view=draft

HOUSE_OVERSIGHT_023454
"
IMAGES-008-HOUSE_OVERSIGHT_025706.txt,"05/27/2008 12:18 FAX 4901

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¥xxX TX REPORT EEX
EXKAKKAKKKKAKKAKKSKKKEKE

TRANSMISSION OK

TH/RK NO 0439
RECIPIENT ADDRESS 912025140467
DESTINATION ID

ST. TIME 05/27 12:18
TIME USE 00'S4

PAGES SENT 3

RESULT OK

KIRKLAND & ELLIS LLP

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Message:

HOUSE_OVERSIGHT_025706
"
IMAGES-007-HOUSE_OVERSIGHT_022992.txt,"The answer to the many questions that still swirl around Epstein and his high-
placed friends are the subject of roughly a half-dozen lawsuits that are still
pending in both Palm Beach County and New York. Some of the nation’s top
attorneys have represented Epstein and some of his victims.

But like many of the past lawsuits spawned by Epstein’s behavior, most of the
remaining ones are expected to be settled. And even public court records don't
tell the full story — because many documents have been sealed or are heavily
redacted.

For example, a defamation lawsuit against one of Epstein’s close friends was
scheduled to go to trial in U.S. District Court in New York this coming Monday.
But both sides agreed to a delay last week, often a signal that a settlement
could be in the works.

The suit was filed by Virginia Roberts Giuffre against British-born socialite and
longtime Epstein friend Ghislaine Maxwell. In a 2009 lawsuit that Epstein
settled for an undisclosed amount, Giuffre claimed she was 15 when Maxwell
recruited her from her $9-an-hour job in the locker room at Mar-a-Lago, where
her father had a job as a maintenance worker. Giuffre claims in court records
that Maxwell introduced her to Epstein and that Epstein turned her into his
international sex slave.

Maxwell wasn’t sued as part of the lawsuit Giuffre filed against Epstein. But, in
court papers filed by Giuffre, Maxwell was accused of grooming Giuffre to be
Epstein’s sexual toy.

Maxwell ignored the allegations until Giuffre raised them again in December
2014 and Maxwell began publicly disputing Giuffe’s claims. Famed attorney
David Boies then filed a defamation lawsuit on Giuffre’s behalf, claiming
Maxwell “undertook a concerted and malicious campaign to discredit Giuffre.”
In media interviews, Maxwell called Giuffre’s claims “obvious lies,” Boies wrote.

The trial promised to provide scurrilous details about Giuffre’s widely publicized
contention in court records that Epstein not only used her but loaned her to his
rich and powerful friends, including such notables as Prince Andrew and
former President Bill Clinton. Similar claims against nationally-known attorney
Alan Dershowitz, who represents Epstein, were withdrawn when the Harvard
law professor and Giuffre’s attorneys reached a confidential settlement in
dueling defamation lawsuits they filed against each other over the allegations.

HOUSE_OVERSIGHT_022992
"
IMAGES-009-HOUSE_OVERSIGHT_026646.txt,"slj

This research note is provided by Eurizon SLJ Capital Limited, a Limited Company with Company Number:
9775525, registered in England with Registered Office Address 100 Brompton Road, SW3 1ER. Eurizon SLJ
Capital Limited is authorised and regulated by the Financial Conduct Authority (“FCA”).

This commentary has been prepared by a member of Eurizon SLJ Capital Limited and may not be reproduced,
redistributed or copied in whole or in part for any purpose. Neither this document, nor any copy or part thereof,
may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose
possession the material comes should inform themselves about, and observe, any such restrictions.

The information and opinions provided in our research take no account of investor's individual circumstances and
should not be taken as specific advice on the merits of any investment decision. No member of Eurizon SLJ Capital

Limited accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or
indirectly, from any use of our research or its contents.

This note is provided in accordance with s.54(1) of The Financial Services and Markets Act 2000 (Regulated
Activities) Order 2001, which provides that the giving of advice in this way 1s neither that of: :

(a)the regulated activity of giving advice; nor

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Eurizon SLJ Capital Limited has taken all reasonable care to ensure that the information contained in this document

is accurate at the time of publication, however no representation or warranty, express or implied, is made as to the
accuracy, reliability or completeness of such information.

Landon Thomas, Jr.
Financial Reporter
New York Times

HOUSE_OVERSIGHT_026646
"
IMAGES-003-HOUSE_OVERSIGHT_015158.txt,"TRACK: I’ m telling you, those Iraq Veterans Against the War were
real traitors at the Democratic convention. | learned that they had the
nerve to be in full uniform, and they were chanting, “My buddy’ s in the
foxhole with a bullet in his head--I called to get the medic but he’ s
already dead.” But at our convention, just like the war in Iraq was a
justifiable pre-emptive strike, so was the raid on the protesters before the
convention began.

WILLOW: What happened? | was busy taking care of Trig.

TRACK: The police and the sheriff’ s department seized material
that could’ ve been used to barricade roads, and spikes that could disable
the delegates’ buses. They confiscated slingshots and buckets of gray
water and urine. It’ s better to prevent using that stuff before it happens.
They busted four people on suspicion of conspiracy to commit a riot, and
detained dozens of others. They took boxes of pamphlets on free-speech
laws in Minnesota, and booklets on how to protest legally.

WILLOW: That doesn’ t seem right. | was listening to the radio, and
a pundint was talking --

TRACK: You mean pundit--

WILLOW: --a pundit, he was talking about keeping protesters out of

sight, they could only speak on P.A. systems in fenced-off, like cages, on

HOUSE_OVERSIGHT_015158
"
IMAGES-006-HOUSE_OVERSIGHT_020514.txt,"95

22 Ibid.

23 Dewan, Shaila. “Chinese Student in US Is Caught in Confrontation.” New York Times. April 17, 2008.
http://www.nytimes.com/2008/04/17/us/17student.html.

24 Reynolds, Emma. “Tensions Rise as Chinese Government’s Influence Infiltrates Aussie Universities.”
News.com.au. September 1, 2017. http://www.news.com.au/finance/economy/australian-economy
/tensions-rise-as-chinese-governments-influence-infiltrates-aussie-universities/news-story/e7768bO0bb1f5
953a7608884527387372.

25 For example, to cite cases, in the last few years Wang Jianlin from Wanda is reported to have
personally pledged substantial amounts to Harvard and Yale. SOHO China founders Pan Shiyi and Zhang
Xin reportedly set up a $100 million dollar scholarship fund for American universities in 2014 to facilitate
attendance of underprivileged Chinese students, and they have already made substantial gifts to Harvard
and Yale.

26 See the list of 18,467 foreign gifts to US institutions of higher education for the period 2011-2017
accessible at https://studentaid.ed.gov/sa/about/data-center/school/foreign-gifts, accessed 2018.07.17.

27 Admissions officers at leading universities say this is an increasingly common practice.
28 “China Studies Program.” Hanban. english.hanban.org/node_43075.htm.

29 This program, created in 2014, has been for short-term visits to China, but in 2018 has added a research
grant component. See http://en.chinaculture.org/2016-07/21/content_845260.htm.

30 “About Us.” China-United States Exchange Foundation. https://www.cusef.org.hk/about-us.

31 The CPPCC is a body in which the Communist Party liaises with China’s eight so-called democratic
parties. It is comprised of representatives of these parties as well as CCP members.

32 These activities are all listed in the CUSEF Annual Reports: https://www.cusef.org.hk/annual-reports.

33 Redden, Elizabeth. “Thanks, but No Thanks.” /nside Higher Education. January 16, 2018. https://www
-insidehighered.com/news/2018/01/16/ut-austin-rejects-funding-chinese-government-linked-foundation.

34 It was assumed that the funding came from Chinese government funds.

35 Allen-Ebrahimian, Bethany. “This Beijing-Linked Billionaire Is Funding Policy Research at Washington’s
Most Influential Institutions.” Foreign Policy. November 28, 2017. https://foreignpolicy.com/2017/11/28
/this-beijing-linked-billionaire-is-funding-policy-research-at-washingtons-most-influential-institutions
-china-de.

36 “Paul Tsai China Center: About Us.” https://law.yale.edu/china-center/about-us.

37 Li, Raymond. “Seven subjects off-limits for teaching, Chinese universities told.” South China Morning
Post. May 10, 2013. https://www.scmp.com/news/china/article/1234453/seven-subjects-limits-teaching
-chinese-universities-told.

38 Feng, Emily. “China tightens grip on university joint ventures.” Financial Times. August 7, 2018.
https://www.ft.com/content/dbb7b87e-99f7-11e8-9702-5946bae86e6d.

39 Feng, Emily. “China closes a fifth of foreign university partnerships,” Financial Times. July 18, 2018,
https://www.ft.com/content/794b7 7e8-8976-11e8-bf9e-8771d5404543.

40 See Greitens, Sheena Chestnut and Rory Truex. “Repressive Experiences Among China Scholars:
New Evidence from Survey Data.” Paper presented at American Political Science Association.
September 2018.

Section 4

HOUSE_OVERSIGHT_020514
"
IMAGES-003-HOUSE_OVERSIGHT_016451.txt,"That same year, 2011, more girls continued to come forward, including Roberts,
who claimed in a British tabloid story that Epstein directed her — while she was
underage by Florida standards — to have sex, not only with him, but with other
powerful men, including his attorney, Alan Dershowitz, and Prince Andrew.
Dershowitz and Andrew denied her claims, but after she filed a sworn affidavit in
federal court in Miami, the ensuing news media firestorm forced Acosta, then
dean of the law school at Florida International University, to explain why he’d
declined to prosecute Epstein.

In a written, public statement on March 20, 2011, Acosta asserted that the deal
he struck with Epstein’s lawyers was harsher than it would have been had the case
remained with the state prosecutor, Krischer, who favored charging Epstein with
only a misdemeanor prostitution violation.

Acosta also described what he called a “year-long assault’ on prosecutors by
Epstein’s “army of legal superstars” who, he said, investigated individual
prosecutors and their families, looking for “personal peccadilloes”’ to disqualify
them from Epstein’s case.

Dershowitz, in an interview, denied that Epstein’s lawyers would ever investigate
prosecutors.

Documents nevertheless show that Acosta not only buckled under pressure from
Epstein’s lawyers, but he and other prosecutors worked with them to contain the
case, even as the FBI was uncovering evidence of victims and witnesses in other
states, FBI and federal court documents show.

A 53-page federal indictment had been prepared in 2007, and subpoenas were
served on several of Epstein’s employees, compelling them to testify before a
federal grand jury. The court records reveal that emails began to fly back and
forth between prosecutors and Epstein’s legal team. Those emails show that
federal prosecutors kept acquiescing to Epstein’s demands.

Prosecutors allowed Epstein’s lawyers to dictate the terms of each deal that they
drew up, and repeatedly backed down on deadlines, so that the defense
essentially controlled the pace of the negotiations, the emails and letters show.

HOUSE_OVERSIGHT_016451
"
IMAGES-010-HOUSE_OVERSIGHT_028798.txt,"All I can say about Bill’s message on Monday is: “Amen, brother! Amen!”

He hit every nail right on the head.

To those self-deluding worthies who think that a Donald Trump
presidency will solve all of America’s problems I say, “Get your heads

out of your collective a***s, because it ain’t gonna happen.”

Trump will continue the policies (if we can laughably call them such) of
the Deep State... with a dash of Adolph Hitler thrown in for good

measure. Clinton will be no better, if not worse.

I’m with Bill — a vote for the lesser of two evils is still voting for evil.
However, unlike him, I will vote, but for a third-party candidate who
doesn’t have a snowball’s chance of winning. A “wasted” vote is better

than a vote for Trump or Hillary.

— Dale A.

I think you are correct in your assessment of the Deep State. I disagree

in how to deal with it.

It seems easy for the rich or the poor to walk away and state it doesn’t
matter. The poor because they do not have a choice; the rich because
they do. For those of us in the middle we need to deal with it, lest we
end up in the poor camp. For me, a decision that includes a less bad

scenario is still a decision worth pursuing.

— Rudy R.

In Case You Missed It...

The third part of Doug Casey’s “virtual workshop” on how to turn crises into

wildly profitable investments goes live today.

HOUSE_OVERSIGHT_028798
"
TEXT-001-HOUSE_OVERSIGHT_030156.txt,"﻿                    
22 June, 2011

Article 1.	The Washington Post
Avoiding a summer of blood
David Ignatius	
Article 2.	Project Syndicate
The Middle East’s Slow-Motion Revolution
Prince El Hassan bin Talal	
Article 3.	Stratfor
Turkey's Inevitable Problems With Neighbors	
Article 4.	Agence Global
A Defiant Asad Sticks to His Guns
Patrick Seale	
Article 5.	Foreign Policy In Focus
Egypt's Evolving Foreign Policy
Richard Javad Heydarian	
Article 6.	Foreign Affairs
How Fatah-Hamas Unity Threatens U.S. Funding
Douglas N. Greenburg and Derek D. Smith	
Article 7. 	TIME
Why the Muslim Brotherhood Are Egypt's Best Democrats
Bobby Ghosh	



Article 1.

The Washington Post

Avoiding a summer of blood

David Ignatius



June 22 -- “Peace is at hand,” Henry Kissinger famously announced in October 1972 after a seeming breakthrough in Vietnam negotiations. But it wasn’t at hand. It took three more months to complete the Paris Peace Accords, which collapsed in 1975 when North Vietnam overran Saigon.

This Vietnam history is a caution against premature optimism about diplomatic solutions to deeply embedded conflicts, such as the one in Afghanistan. But the fact remains, as is so often stated, that there is no military solution to such conflicts. The challenge is creating a dialogue among people who profoundly mistrust each other — and averting a pell-mell civil war.

President Obama is embracing the logic of a political settlement for Afghanistan with his speech Wednesday night. With Osama bin Laden dead, Obama can claim that America’s core mission of combating al-Qaeda is succeeding. He can bring some troops home and step up diplomatic negotiations with the Taliban to reach a broad peace deal by 2014. 

Obama’s strategy for the Afghanistan negotiations highlights two factors that could also be relevant in the increasingly messy conflicts in Libya and Syria. First, the dialogue must be sponsored by people inside the country that’s facing internal strife. The United States may encourage contacts, but the process has to be “Afghan-led,” or “Libyan-led,” or “Syrian-led.” Second, this dialogue requires a regional framework, so that the combatants don’t turn to meddling neighbors for help. 

America’s secret contacts with the Taliban have made progress partly because President Hamid Karzai wants them to succeed and, perhaps more important, because India, Pakistan, Russia and China are also supporting the outreach process — with silent acquiescence from Iran, too. This regional framework is the real exit ramp that will allow withdrawal of U.S. troops. 

Let’s think about how this diplomatic model might apply to Libya and Syria. In both cases, the insurgents are seen in the West as the “good guys,” battling corrupt, autocratic leaders. Personally, I wish that both Moammar Gaddafi and Bashar al-Assad would give up power tomorrow. But that doesn’t seem in the cards: Both leaders have shown they’re willing to kill thousands of their citizens to hang on, and the rebel movements in both countries seem too weak to displace the dictators by force. Outside military intervention may seem tempting, but it isn’t working very well in Libya, and might fare even worse in Syria.

The right goal in Libya and Syria (as in Afghanistan) is a transition to an inclusive, democratic government — with as little bloodshed along the way as possible. The alternative to such a settlement is a protracted conflict that could mean massacres of civilians and, on present evidence, a bloody stalemate that further destabilizes the region. 

It’s distasteful to contemplate dialogue with leaders such as Gaddafi and Assad who, to put it bluntly, have blood on their hands. But this approach is worth exploring if it can foster a transition to a democratic government — where the autocrats cede power to a coalition that includes reformist elements of the old regime and the opposition.

An emissary who is close to Gaddafi’s inner circle has outlined in recent interviews a Libyan formula for transition. He proposes a gradual transfer of power to a new government that would unite the rebel Transitional National Council with “reconcilables” from the regime. Gaddafi himself would quit Tripoli and give up power, but this would be an outcome of negotiations, rather than a precondition. State Department officials are skeptical, but they should test the emissary’s ability to deliver. 

The Syrian case is also complicated by the blood-soaked history of the regime. In a speech Monday, Assad proposed a national dialogue, in which the democratic opposition would select 100 participants to meet with government representatives — and plan elections and a new constitution. Given Assad’s disappointing record, it’s doubtful that he can or will deliver. But it makes sense to test his offer — not least because such a process would terrify Assad’s patrons in Iran. If the dialogue fails, the Syrian demonstrations will be all the more potent, and Assad’s hold weaker. 

These internal dialogues should be bolstered by regional support, as with Afghanistan. The right shepherds for Libya are its newly democratic neighbors, Egypt and Tunisia, backed by France, Britain and Germany. In Syria, the obvious mediator-in-waiting is Turkish Prime Minister Recep Tayyip Erdogan, backed by the Gulf countries. 

Here’s the point: The Arab Spring should not turn into a summer of blood, if there are diplomatic alternatives. 






Article 2.

Project Syndicate

The Middle East’s Slow-Motion Revolution

Prince El Hassan bin Talal



2011-06-21 -- AMMAN – There seem to be a thousand and one interpretations of the changes sweeping across the countries of the Middle East and North Africa. One response that is often heard is a note of cautious optimism, captured in US President Barack Obama recent speech at the State Department when he referred to the “promise of the future.”

But sometimes we also hear the populist smears that have been applied to the Middle East for so long that nothing, it seems – no amount of extraordinary change – can silence them. After the successful revolts in Cairo and Tunis, the slanders abated. Soon, however, the old messages depicting the Middle East as extreme, fundamentalist, and hostile to democracy began to re-insinuate themselves in the West.

On the other hand, ordinary men and women in the West seem to feel an instinctive sympathy toward their counterparts in the Middle East and North Africa, many of whom are paying the ultimate price in fighting for their rights. These sacrifices have convinced many Westerners that the Middle East is not beyond redemption, and that the region’s people should be given a chance to enjoy the same liberty that they do.

This clash of perceptions has caught the world’s policy experts and analysts off guard. That, too, is not surprising, because the situation remains an amorphous mix of hope and destruction.

But today, in Amman, as in almost every Arab capital, independent meetings and debates about how to move forward are taking place in art galleries, think tanks, salons, ordinary households, and, most significantly, online. A region often depicted as “backward” is debating its destiny both face-to-face and across social networks every second of every day.

Yet tweeting is no substitute for thought. Indeed, the events and personalities that have so far gained attention seem to fill the void where the declarations of freedom and treatises on rights – where the ideas – should be.

The result is the confusion that we now see. Contradictions abound. Governments across the region have been identified as the problem, and yet the state is being called upon to address a social and political agenda that has not yet been fully defined. We are seeing the birth of a more democratic spirit among the region’s peoples, but a corresponding sense of democratic responsibility remains underdeveloped.

No matter how influential new media have been, they cannot replace the need for a region-wide “manifesto for change” that all who seek freedom can embrace. Any such manifesto must address the two elephants in the room – Palestine and the price of oil – as well as the extent to which regional water and energy resources, now rapidly depleting, should be shared. (Here, I and experts from around the world have been calling for the creation of a Supranational Commission for Water and Energy to ensure the kind of sustainable resource management that the Strategic Foresight Group has labeled “Blue Peace.”)

Of course, generating ideas is easier said than done. By limiting free speech and forcing millions of young people to stay at home without jobs, the only public space left for many people happens to be virtual. Arab governments switched their people off, so their people migrated online. The result is that an old guard now confronts a new wave, and the two sides think entirely differently and speak at cross-purposes.

Whatever the new wave’s limitations, its borderless online conversations are offsetting the region’s political, religious, social, and cultural balkanization. The people of West Asia and North Africa are talking among themselves, even if their governments remain remote. That is a source of hope, if not yet of the systematic and coherent ideas about how to remake their societies that the region needs.

Cyber-activism has its limits; it cannot, in the end, deliver either democracy or prosperity. Communication may be instant, but, with no coherent animating ideology, the revolution proceeds in slow motion. The battle being fought for the soul of the Middle East cannot be won online, nor can it be subdued through the cynical manipulation of trust and fear. The quality of freedom in the Middle East, as elsewhere, will depend on its supporters’ commitment to liberal and democratic values.



HRH Prince El Hassan bin Talal is chairman and founder of the Arab Thought Forum and the West Asia-North Africa Forum.


Article 3.

Stratfor

Turkey's Inevitable Problems With Neighbors



June 21, 2011 -- Syrian President Bashar al Assad delivered a long and uneventful speech Monday, during which he basically divided Syria's protest society into three categories: the good, the criminal and the Salafi. Assad claimed that instability caused by the latter two was to blame for the delay in implementing reforms. Rather than promising concrete reforms that have been strongly urged by the Turks, the Syrian president emphasized that security had to come first, while trying to present himself as a neutral mediator between the population and security forces. Not surprisingly, the speech fell on deaf ears throughout Syria, but also in Ankara, where the government let its growing impatience show and told the Syrian president once again that he isn't doing enough to satisfy the demands of his people.

With more than 10,000 Syrian refugees spilling across the Turkish border to escape the army's siege, the situation in Syria is undoubtedly growing desperate. However, we have not yet seen the red flags that would indicate the al Assad regime is in imminent danger of collapse. The reasons are fairly straightforward. The al Assad clan belongs to Syria's Alawite minority, who only 40 years ago were living under the thumb of the country's majority Sunni population. Four decades in power is not a long time, and vengeance is a powerful force in this part of the world. The Alawites understand that they face an existential crisis, and if they allow their grip over the Baath-dominated political system - and most importantly the military - to loosen even slightly, they will likely become the prime targets of a Sunni vendetta campaign aiming to return the Alawites to their subservient status. This may explain why al Assad felt the need to stress in his speech that his minority government would not take ""revenge"" against those who stand down from their protests.

Turkey is understandably nervous about what is happening next door in Syria. Ankara would prefer a Syria ruled by a stable Sunni regime, especially one that would look to Turkey's ruling Justice and Development Party (AKP) for political guidance. However, the Turks can see that Alawite leadership will not leave power without a long and bloody fight. Recreating a sphere of Turkish-modeled Sunni influence in the Levant may be a long-term goal for Ankara, but the Turkish government is certainly not prepared to pay the near-term cost of civil strife in Syria spilling across Turkish borders.

Turkey has so far addressed this dilemma mainly through rhetoric, issuing angry speeches against Syrian leadership, while floating the idea of a military buffer zone for Syrian refugees. For awhile, assuming the role of regional disciplinarian played well to an AKP public-relations strategy that portrayed Turkey as the model for the Arab Spring and the go-to mediator for the Mideast's problems. But the more Syria destabilizes - and with each time it ignores Ankara's demands - the more Turkey risks appearing impotent.

The crisis in Syria will likely lead to a recalibration of Turkish foreign policy. The architect of Turkey's foreign policy, Foreign Minister Ahmet Davutoglu, coined the phrase ""zero problems with neighbors"" to describe the guiding principle of Turkey's interactions with surrounding regimes. Turkey obviously has a problem with Syria's leadership, and not a small one. It is becoming increasingly apparent that Turkey may not yet have what it takes to deal with Syria, beyond issuing rhetorical censures. Establishing a military buffer zone as a safe haven for Syrian refugees not only would call for an international mandate, but would entail Turkish troops occupying foreign land - which would likely set off alarm bells among Arabs who already suspect Turkey of harboring a so-called neo-Ottoman agenda. Turkey's ardent support for Libyan rebels against Moammar Gadhafi and public backing for Syrian opposition forces have already unnerved Arab monarchist regimes that are trying to undermine the effects of the Arab Spring and are growing distrustful of Turkish intentions. Moreover, any move construed as Turkey trying to facilitate the downfall of the al Assad regime would undoubtedly create problems with Iran, a neighbor Turkey has taken great care to avoid aggravating. Iran relies heavily on the Alawite regime in Syria to maintain a foothold in the Levant through groups like Hezbollah in Lebanon and Palestinian Islamic Jihad and Hamas in the Gaza Strip. Since the return of Syria to Sunni control would unravel a key pillar of Iranian deterrent strategy, we can expect that Iran is doing everything possible to undermine the very Syrian opposition forces looking to Ankara for support. Turkey has avoided confrontation with Iran thus far while working quietly to build a Sunni counterbalance to Iranian-backed Shia in Iraq in the face of an impending U.S. withdrawal. A power vacuum in Syria filled by Turkish-backed Sunnis would reinforce a nascent confrontation between Iran and Turkey with deep geopolitical underpinnings.

Nations do not have friends; they have interests. And Turkey, an historically influential country sitting on one of the most geopolitically complex pieces of real estate in the world, is now finding that a foreign policy built on avoiding problems with neighbors grinds against reality. In STRATFOR's view, this was inevitable, which is why we took interest in Monday's issue of Today's Zaman, an English-language outlet loyal to the movement of Fethullah Gulen and strongly supportive of the ruling AKP. Two editorials in Monday's publication held that the Syrian crisis has exposed the coming demise of Turkey's ""zero problems with neighbors"" policy.

That this idea is being introduced into the public discourse is revealing, not only of Turkey's internal debate on this issue, but also of the message that Ankara may be trying to send to the United States and others: It needs time to develop the wherewithal to meaningfully influence its neighborhood. The United States wants Turkey to help shoulder the burden of managing the Middle East as it looks to extricate its military from Iraq. Washington especially needs to develop a strong counterbalance to Iran - a role historically filled by Turkey. This obviously presents a conflict of interests: Washington is trying to push Turkey into a role it's not quite ready for; meanwhile, Turkey is trying to sort out its growing pains while appearing influential abroad.

Turkey's evolution will be difficult and uncomfortable, but this should not come as a surprise. ""Zero problems with neighbors"" worked well for Turkey at the start of the century, as it came out of its domestic shell, yet took care to avoid being seen as a resurgent power with imperial interests. After a decade of regional conflict, Turkey is finding that problems with neighbors are not only unavoidable, but may even be necessary as the Turkish state redefines its core interests.








Article 4.

Agence Global

A Defiant Asad Sticks to His Guns

Patrick Seale



21 Jun 2011 -- All those dreaming of -- and working for -- ‘regime change’ in Syria will be outraged by President Bashar al-Asad’s speech last Monday, 20 June. They want him out, together with the hate figures around him who have been conducting the brutal repression of the protest movement. But he is not stepping down. He intends to stay on -- and to fight on. 
Asad gave no ground to his political enemies. The speech was not, in fact, addressed to them. It was addressed to Syria’s ‘silent majority’ which -- or so the President continues to believe -- aspires to security, stability and national unity, and is terrified, above all, of a sectarian war on the Iraqi model. 
The President explained that, in order to understand the nature of the crisis, he had held several meetings in recent weeks with citizens from all parts of the country. He wanted to hear directly from them. The conclusion he had reached was that there were several different components to the protest movement.
First, there were those who had legitimate demands, who wanted justice, democracy and jobs, and the resolution of problems which had accumulated over decades. Their demands could not be ignored. He intended to address them and had already started to do so. But then there were the others -- the criminal outlaws, the blasphemous intellectuals who spoke in the name of religion, the vandals, conspirators and paid agents of foreign powers. Under cover of the protest movement, they had taken up arms against the state!
These conspirators, he said, had called for foreign intervention, they had smeared Syria’s image and destroyed public and private property. 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 be drafted and passed into law. There could be no giant leap into the unknown because decisions taken now would affect Syria for decades to come.
The speech will disappoint all those who had hoped for immediate and dramatic reforms. The President served up a diet of words rather than of actions. He did mention, however, that elections would take place in August, and that among the bills to be discussed would be a new electoral law, a law allowing for the formation of political parties, a media law, a law to give greater powers to municipal authorities, and the need to amend or even entirely rewrite the Constitution. He seemed to be indicating that the notorious Article 8 of the Constitution, which gives the Ba‘th party a “leading role in state and society,” might be scrapped.
This may well prove hard to achieve. Having enjoyed a monopoly on the political scene since 1963, Syria’s Ba‘th party has long since become rigid and Stalinist, and is probably incapable of sharing power with other parties. More battles lie ahead.
To all but his diehard political enemies, President Asad seemed thoughtful and even conciliatory. He did not look like a leader battling for survival. No doubt, the credits outweigh the debits in his personal profit-and-loss account. He knows that he need fear no foreign military intervention: After Libya, no Western power would even contemplate it. Some soldiers have defected to the rebels, but there has been no major split in the army or the security services, or in the regime itself. Whatever disputes and dissensions there may have been in the ruling circle have been carefully hidden from view. He knows that so long as they remain united, it will be difficult, if not impossible, for the opposition to topple him.
At the UN and elsewhere, Syria enjoys the protection of Russia -- perhaps concerned for its naval base at Tartus. The Russian view is that the Syrian crisis poses no threat to international peace and security. China, India, South Africa and Brazil all side with Syria. At home, the country will not face starvation -- this year’s wheat harvest is estimated at 3.6m tons. Oil and gas exports have so far not been affected.
On the debit side, however, tourism has collapsed; inward investment has dried up; the increase Asad has decree in the salaries of government bureaucrats is estimated to cost $1bn a year -- driving the government deficit to dangerous heights. If the crisis continues much longer, Syria will need a large cash injection from somewhere, and is probably looking to Qatar. Then there is the unpredictable factor. What if the protests continue and become more violent? Will the merchant middle class, the backbone of the regime, remain loyal? Could the economy take the strain? What might next Friday bring?
I was reached this week on the phone by a well-placed Syrian, close to the regime. “Western condemnation of Syria is pure hypocrisy,” he fumed. “Every regime in the world will try to destroy its enemies. Have you heard of a place called Abu Ghraib? Or the hundreds of thousands killed by America in Iraq? Or Israel’s massacre in Gaza? Or the 10,000 Palestinians in Israeli jails? If the U.S. and Israel can get away with large-scale killing and torture, why can’t we? They claim to act in self-defence, so do we!”
It would seem that lawlessness and contempt for human life are contagious.

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 5.

Foreign Policy In Focus

Egypt's Evolving Foreign Policy

Richard Javad Heydarian



June 21, 2011 -- Egypt was once a major player in the Middle East, particularly under the leadership of Gamal Abdel Nasser in the 1950s and 1960s. Over the last decades, Egypt gradually lost its prestige and influence in the region as it became an introverted autocratic regime. In the post-Nasserite period, Egypt strengthened its ties with Israel, isolated Hamas, repressed domestic Islamic movements, marginalized democratic forces, and confronted regional powers such as Iran. However, with the political demise of Hosni Mubarak the country’s foreign policy is gradually moving in a direction that better reflects popular sentiments. The new Egypt is looking to normalize relations with countries like Iran, re-evaluate ties with Israel, and tilt more toward the Palestinian cause.   Given its profound cultural capital, powerful military, huge population, and strong economic fundamentals, Egypt could not only regain its regional influence but also play a more assertive and prominent international role. More importantly, the emergence of a democratic system in Egypt could transform the country into a model for the Arab world.

Democratic Earthquake

Domestic factors like corruption, political repression, and desperate economic conditions galvanized the populace against the Egyptian state. But Mubarak’s foreign policy doctrine also contributed to the erosion of his political base. The democratic revolution was also a response to the government’s complicity in the siege of Gaza, seeming timidity in foreign affairs, and his growing reliance on the United States for the perpetuation of his reign.  The High Council of the Armed Forces currently rules Egypt, and the military shows no sign of making a decisive break with the past. Nevertheless, the new leaders are more wary and sensitive to the qualms of the people. The prosecution of former ministers, officials, and even the former president and his family symbolizes the junta’s responsiveness to popular demands. The military’s consistently expressed commitment to push through with democratic elections and create a conducive environment for an eventual transition to a civilian democratic political system indicates that the balance of forces has shifted to the people — despite the lingering threat of counterrevolution, mobilization fatigue, and medium-term disenchantment with democracy.   The military occupies a position of prestige and privilege in the society, and it is in its best interest to create a smooth transfer of power in succeeding months and years. Perpetuating the policies of the past regime would anger the population. So it's more than likely that the new Egyptian leadership will review the tenets of the former regime’s foreign policy architecture.   The Islamists are already pre-empting their opponents by talking about how they seek to emulate the Turkish model, where Islam and political moderation coincide, especially in the realm of foreign affairs. Moreover, the Muslim Brotherhood has expressed its interest in occupying more low profile and welfare-oriented executive ministries. So far, the Islamists have not even vied for the position of presidency, content with gaining some parliamentary representation and possibly some influence in the executive branch.   The Islamists at this point are more concerned with gaining domestic political support and avoiding any backlash from the military, democrats, and foreign powers. Any Islamist-backed radical departure from the past could justify a crackdown by the military or compromise the country's economic well-being and political stability, which could, in turn, erode broader popular support for their agenda. However, if Israel steps up its aggressive policies in the region — with the West failing to support the democrats — the Islamists could try to pressure the government — through mass rallies, political mobilization, and populist rhetoric — to abrogate the peace treaty with Israel or to qualitatively shift, if not downgrade, bilateral relations with the United States. Such a dynamic would inadvertently put pressure on post-revolutionary Egypt to be more assertive in its ties with Israel and the West.

The Gushing Wound of Palestine

The Palestinian question has been at the heart of the Arab political discourse for the last seven decades. The 1979 peace deal between Egypt and Israel ushered in an unprecedented phase of strong bilateral cooperation between the two former enemies, but it was also a major cause of the unpopularity of both Sadat and Mubarak. Israel benefited from the cold peace by neutralizing the most powerful conventional force in the Arab world. It even coordinated closely with Egypt on the siege of Gaza.Although the peace accords allowed Egypt to avoid another conflict with Israel and win substantial economic-military aid from the United States, the country’s image has suffered a significant blow in the last three decades. Strategically, Egypt’s withdrawal from the Arab-Israeli conflict allowed other powers to raise their political profile and regional influence. The resulting strategic vacuum simply shifted the regional balance of power in favor of non-Arab and/or non-traditional powers. Iran, Syria, and Qatar — and later Turkey — have been the biggest beneficiaries of Egypt’s neutrality on the Palestinian issue.

Aware of the popular sentiment in favor of the Palestinian cause, the new Egyptian leadership initiated two important policy shifts. First, it re-opened the Rafah border, which has allowed most residents of Gaza to escape the suffocating siege imposed by Israel. Second, Egypt has played an active role in facilitating the unity deal between rival factions in Palestine. The deal represents the best chance for Palestinians to finally form a united front in future negotiations with Israel and break the oppressive deadlock that has plagued previous negotiations. These two developments may portend more critical foreign policy reformulations, especially on Israeli-Egyptian relations, in coming years.

Reaching out to Others

Anxieties over political change in Egypt are not only confined to the Palestine-Israel equation. Egypt’s emerging détente with Iran is beginning to worry not only the United States and Israel, but also monarchies in the Persian Gulf.  A year before the 2011 revolution, many prominent leaders in Egypt and the Arab world began to realize the value of normalized relations with Iran. The two countries began to consider the resumption of direct flights between the two nations after 32 years. Also in 2010, the head of the Arab League, Amr Moussa, urged member countries to acknowledge the new geopolitical realities in the region: namely, the rise of non-Arab countries such as Turkey and Iran. He touched on the thorny issue of Iran-Arab tensions by stating, “I realize that some are worried about Iran but that is precisely why we need the dialogue.” He reiterated his  position after the revolution as he was preparing to run for the presidency in the Egyptian elections:“Iran is not the natural enemy of Arabs… We have a lot to gain by peaceful relations -- or less tense relations -- with Iran.”   Just weeks after the downfall of Mubarak, Egypt allowed Iranian warships to cross the Suez Canal, provoking uproar among Israelis and even Americans. In succeeding months, the diplomatic flirtation between the two countries took an even more interesting turn when Egyptian Foreign Minister Nabil El-Arabi stated that Egypt was ""turning over a new leaf with all countries, including Iran."" Iran’s Foreign Minister Ali Akbar Salehi immediately expressed his countrys appreciation of El-Arabi’s comments by expressing his wishes for “expansion in relations.” The two ministers met on the sidelines of the Organization of Islamic Conference (OIC) in Bali, where the OIC expressed its support for improvement of ties between the two major Muslim countries.

Egypt’s Changing Role

Gamal Abdel Nasser was the central figure behind the first Arab revolution, which precipitated the withdrawal of colonial powers, Britain and France, from the Middle East. As Saudi Arabia spearheads a regional counter-revolution by abetting repressive monarchs in the Persian Gulf and providing sanctuary to fallen autocrats — with President Saleh of Yemen being among the latest beneficiaries — post-revolutionary Egypt could once again inspire change across the region. Given its size, history, and cultural influence, a successful transition to democracy would undoubtedly transform Egypt into a role model for smaller fellow Arab countries.

The era of yes men in the Arab world is beginning to end, and the new Egypt — though it has maintained good ties with the U.S. — will be more assertive and independent in its foreign policy choices. The case of Turkey is very instructive. Despite being a pillar of NATO, and a strong ally of the Unites States, Turkey has repeatedly shown its independence on a number of key regional issues such as Iran's nuclear program, the invasion of Iraq, and the siege of Gaza.

There are limits to this independence. Egypt is heavily reliant on aid, investments, tourism, and trade. Economic concerns are still the country’s top priority. According to the latest Gallup poll, the majority of Egyptians are extremely pessimistic about the economy. Therefore, the priority of post-revolutionary Egypt’s leaders is ultimately the restoration of confidence and economic dynamism.

Democrats and Islamists are also aware that the military could choose to intervene — with tacit support from outside — if the democratic process gives birth to a radical government that jeopardizes the interests of the military and the state. This has been the case in other comparable countries such as Turkey and Pakistan, where the military has also played a central role in determining the destiny of the nation-state. Egypt is still the top U.S. recipient of military assistance after Israel. It is simply too embedded in the U.S. military-industrial complex to risk alienating Washington. So, too, has the financial clout and political weight of the Gulf Cooperation Council made a precipitous Egyptian tilt toward Iran unlikely.   Already, the Saudis are reportedly trying to sabotage the emerging rapprochement between the two countries. According to the head of Iran's Interest Section in Cairo Mojtaba Amani, “Saudi Arabia has even threatened to expel 1.5 million workers to dissuade Cairo from the resumption of ties with Tehran.”  Given these undeniable realities, an abrogation of the Israeli-Egyptian 1979 peace accords or the formation of an axis between Iran and Egypt is not in the offing. Moreover, the Egyptian foreign minister has injected realism into the rapprochement euphoria by indicating that Iran should not expect any substantial improvement in bilateral ties unless a new government is elected. In fact, just recently, Egypt expelled an Iranian on grounds of espionage, denting efforts by both states to improve relations.  Nonetheless, Egyptians from across the political spectrum seem to support normalizing ties. A delegation composed of Egyptian academics and civil society leaders recently visited Iran. According to a member of the delegate, Mustafa Nagar, “Iranians believe Egypt is a strong country, not only to put Israel under pressure, but to benefit from the Egyptians themselves, that’s why Egypt must restore ties with this great civilization.”

The Post-Hegemonic Era

The United States should play a constructive role in the democratic transition of Egypt. Despite anxieties over the possible shift in Cairo’s foreign policy doctrine, Washington should ensure that the development of civil democratic institutions is not, again, compromised in the name of stability. The last thing Washington needs is the emergence of a Pakistan-like political system, where the military controls the state at the expense of economic development, democratization, and political stability. The collapse of Arab autocracies and the impending conflagration in Pakistan should serve as wake-up calls for policymakers in Washington.

Instead of indiscriminately throwing its weight around and unconditionally cultivating ties with intransigent allies such as Israel and Saudi Arabia, the United States should be looking toward further cooperation with powerful and democratizing countries such as Turkey and Egypt. Maintenance and deepening of close ties with legitimate states with civilian governments committed to democracy and economic development is the best way for the United States to create islands of peace in different regions and construct durable multilateral arrangements, which serve common interests.

Such strategic patience could also rehabilitate the battered U.S. image around the globe. For instance, Brazil’s case is very instructive: the rise of a democratic and progressive government, under President Luiz Ignacio Lula da Silva, ushered in a new era of stability and economic progress. Today, Brazil is sharing the responsibilities of hemispheric leadership with the United States and contributing to regional stability and integration. The lesson is simple: reliance on responsible regional powers is America’s best chance for a smooth transition to a truly multipolar global system. Egypt can and should be just such a partner. 



Foreign Policy In Focus contributor Richard Javad Heydarian is a foreign affairs analyst based in Manila.
Article 6.

Foreign Affairs

How Fatah-Hamas Unity Threatens U.S. Funding

Douglas N. Greenburg and Derek D. Smith


June 20, 2011 -- The reconciliation agreement signed in April between Fatah and Hamas, which called for the creation of an interim Palestinian unity government followed by elections later this year, raises a number of difficult issues for the United States. Among these is whether Washington can lawfully continue to provide aid to the Palestinian Authority (PA) if it includes Hamas as an equal partner. After all, existing U.S. law designates Hamas as a terrorist organization and thus prevents the United States from aiding it in any way. Although the unity pact suffered a setback when a planned conference in Cairo on Tuesday to announce a new government was postponed, negotations are ongoing. Should the two sides eventually succeed in creating a unity government, continued U.S. funding for the PA could be illegal. Despite this, given the PA’s dependence on U.S. aid, Washington may decide that financially sustaining the Palestinian leadership is vital to the peace process or other strategic interests. As a result, it may attempt to continue aiding elements of the PA that remain unaffiliated with Hamas. Yet absent specific congressional authorization, such a strategy will face significant legal obstacles.

U.S. law has long prohibited citizens from providing support to or doing business with Hamas, which has been on the Treasury Department’s designated terrorist list since 1995 and the State Department’s list of designated Foreign Terrorist Organizations since 1997. Under the U.S. criminal code, individuals cannot knowingly provide an FTO with “material support or resources,” which is broadly defined as any “property or service,” including money, training and advice, safe haven, transportation, and weapons, among other forms of assistance. Violation of this statute is punishable by up to 15 years in prison, or life in prison if the support results in the death of any person. 

The Treasury Department’s Office of Foreign Assets Control (OFAC) also enforces sanctions against Hamas and its affiliates, forbidding U.S. persons from engaging in any transactions with a designated terrorist, and further requiring that U.S. financial institutions block any transactions involving assets of FTOs. OFAC frequently imposes civil fines against violators of these sanctions, who may also suffer criminal penalties. 

The U.S. government has enforced these laws by bringing several high-profile criminal prosecutions against various individuals and charitable organizations for raising funds for Hamas. In 2008, for example, a federal jury in Texas convicted five U.S. citizens on charges of providing material support to Hamas through their ostensibly charitable organization, the Holy Land Foundation, resulting in sentences of 15 to 65 years in prison. The Treasury Department has also targeted charities acting as fundraising fronts for Hamas, such as the Al-Aqsa Foundation, an international relief organization formerly based in Germany that Treasury designated a terrorist entity in 2003, aiming to put them out of business by freezing their bank accounts. 

Current U.S. law, then, clearly forbids and severely punishes a wide range of assistance to Hamas. But what if Hamas takes a leading role in another organization not designated as an FTO -- specifically, the PA? This question arose in 2006, when Hamas members defeated Fatah in that year’s Palestinian elections. Hamas’ presence in the PA posed a significant challenge to U.S. interests in the Palestinian territories. Even so, the PA remained highly dependent on U.S. aid, receiving more than $400 million per year from Washington, and it was unclear whether the PA and its president, Fatah leader Mahmoud Abbas, could survive without it. 

As a result, the U.S. Congress responded to Hamas’ 2006 electoral victory by passing the Palestinian Anti-Terrorism Act (PATA), which conditioned assistance to the PA on a presidential certification that Hamas did not effectively control any “ministry, agency, or instrumentality” of the PA and made “demonstrable progress” toward five benchmarks related to transparency, democratization, and antiterrorism. PATA provided a national security waiver that allowed the White House to continue funding various entities in the PA presidential office and judiciary branch, so long as Hamas did not control the recipient. It also permitted funding to nongovernmental organizations that provide aid to the West Bank and Gaza relating to humanitarian needs and democracy promotion. 

Ultimately, the dilemma over funding the PA resolved itself in 2007, when Hamas broke with Fatah and the PA and took control of Gaza. This separation freed OFAC to allow all transactions with the Fatah-controlled PA in the West Bank. But should Hamas rejoin the PA as a result of the recent unity arrangement, there may be pressure on OFAC to take a tougher stance. Indeed, in recent appropriations bills, Congress has made assistance to a “power-sharing government” in Palestine contingent on compliance with PATA. 

Congressional authorization to fund a Hamas-affiliated PA would likely overcome existing legal prohibitions. In the face of PATA, however, there is a substantial risk that providing aid without specific congressional authority would violate U.S. criminal laws. Although there are several arguments for exempting the PA from the U.S. laws against dealing with FTOs, none is particularly convincing. To begin with, it could be argued that although U.S. law prohibits individuals from assisting Hamas, the president’s constitutional powers to conduct foreign affairs might exempt officials carrying out the government’s international policy from criminal prosecution. The existing laws and regulations, however, make federal officials just as liable for providing aid to FTOs as any private citizen, and any contrary argument would rest, at best, on untested grounds. 

Additionally, it could be argued that because Hamas does not control the PA outright, aid to the PA is not the same as aid to Hamas. This may seem persuasive in some circumstances; for instance, if Hamas held only a small minority of the PA’s parliamentary seats. But that is hardly the case with regard to the current reconciliation agreement, which places equal power in the hands of Fatah and Hamas to form an interim government and appoint various ministers through consensus. Moreover, according to OFAC’s regulations, Hamas needs only an interest in PA transactions, rather than full control of the PA itself, to trigger sanctions against funding the PA. In fact, following Hamas’ election success in 2006, OFAC determined that Hamas had “a property interest” in PA business; this may have some bearing on funding the new unity government. Much like the OFAC regulations, the U.S. criminal code does not clearly specify when an FTO’s interest in an organization becomes so great that it is unlawful to provide that organization with “material support.” Moreover, the serious penalties associated with violating these criminal laws demand caution when considering whether to aid an organization in which an FTO such as Hamas plays a significant role. 

Another possible method for the United States to continue funding the PA is an exception in the criminal code for persons who provide “personnel,” “training,” or “expert advice or assistance” to an FTO with approval of the secretary of state and the attorney general. This exception could allow the United States to advise PA security and police forces, but it would not permit direct financial aid. Similarly, the United States could attempt to convince non-Hamas elements in the PA to use and disseminate U.S. funds without any knowledge or participation of Hamas. Yet such a plan may not withstand legal scrutiny. If non-Hamas PA officials failed to honor the agreement and Hamas gained access to U.S. funds, prosecutors might one day argue that the persons who made the donation knew that such a result was likely and disregarded the risk. Such “willful blindness” could serve as the basis of a criminal prosecution. Or, the whole government may turn out to be Hamas-affiliated, rendering any such distinction meaningless. 

The Obama administration could also instruct OFAC to grant specific exemptions so that the United States could fund particular entities within the PA. OFAC followed this strategy in 2006, announcing at the time that “consistent with current foreign policy” it was “authorizing U.S. persons to engage in certain transactions in which the PA may have an interest.” Mirroring some of the exceptions listed under PATA, OFAC exempted transactions with the Palestinian judiciary, non-Hamas members of the Palestinian Legislative Council, and various entities controlled by Abbas. 

Although the United States sought to continue supporting non-Hamas elements of the PA in 2006, it is doubtful that OFAC could repeat the same tactic now, thanks to the relationship between Fatah and Hamas. In 2006, Hamas campaigned against Fatah and tensions between the two camps remained strong after the election. Armed conflict broke out the following year despite the creation of a de facto unity government, splintering the PA. Should the current reconciliation agreement come to fruition, however, it would create a joint power-sharing government. As a result, it may be more difficult for OFAC to justify special exemptions on the grounds that certain entities within the PA are insulated from Hamas; by all appearances, they will be intertwined. 

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. 




Article 7.

TIME

Why the Muslim Brotherhood Are Egypt's Best Democrats

Bobby Ghosh



June 21, 2011 -- After the fall of Saddam Hussein in 2003, many Western commentators were surprised by the ease with which Iraq's religious movements adapted to multiparty democracy. The Shi'ite groups, in particular, were quick to organize into political parties, set up grass-roots organizations across the country and form practical coalitions ahead of elections. Long assumed to be ideologically opposed to democracy, these groups showed they were in fact brilliantly adaptable. Their leaders, despite having little experience in kissing babies, campaigned like seasoned pros.

In contrast, Iraq's liberal parties were rank amateurs. Their leaders, despite having spent decades in exile in Western democracies (whereas most Islamist exiles were confined to places like Iran and Syria), seemed not to understand how democracy works: people like Iyad Allawi and Ahmed Chalabi had an air of entitlement, assuming that people would vote for them merely because they were modern, progressive and famous. They didn't bother to create a national party infrastructure, nor did they care to campaign. Instead, they held all-day salons in the manner of medieval monarchs giving audience to the elite.

Something very similar is unfolding in Egypt. Of all the political groups to have emerged since the fall of Hosni Mubarak — including the myriad youth movements, secular parties, leftists and remnants of the old National Democratic Party — the Muslim Brotherhood seem to have the best understanding of how democracy works. The Islamist group may have taken a backseat to the liberal youth movement that brought down the dictator, but it has wasted little time in preparing for the post-Mubarak era. Although the generals in charge of Egypt's transition have not yet announced a date for the parliamentary elections (which are expected in the fall), the Brotherhood is already campaigning vigorously, in Cairo and the countryside. The youth movement, on the other hand, seems unable to break out of protest mode. The gap between the two sides was exposed in a mid-March referendum on constitutional reforms. The Brotherhood mobilized a massive ""yes"" vote to ensure that any meaningful reforms would take place after the parliamentary elections. The liberals were split, unsure as to which scenario they feared more: a constitution written by a military-appointed panel before the elections, or one written by a Brotherhood-dominated parliament afterward. It was a rout: 77% voted yes.

The gap has not closed. Since the referendum, many liberals have sought to undermine the result by trying to force through reforms before the elections. Their great champion, former U.N. nuclear watchdog (and Nobel laureate) Mohamed ElBaradei, argues that the constitution can't wait for people's elected representatives. The youth leaders agree and are threatening to return to Tahrir Square if they don't get their way. They claim the referendum doesn't matter because the Brotherhood misled Egyptians by portraying it as a vote on religion. (The Islamists deny this, and some neutral observers say both sides played fast and loose with the facts.)

This carping makes the liberals look like sore losers, and far from democratic. Critics accuse them of trying to buy time: a postponement in the elections would give liberals more time to get their political house in order and hopefully catch up with the Brotherhood's organizational lead. Even Alaa al-Aswany, a novelist and strong Brotherhood critic, acknowledges that it ill behooves the liberals to attempt an end run around the referendum. ""The people made a choice, and we have to respect it,"" he says.

The Brotherhood, meanwhile, is sitting pretty. It has offered to form a broad coalition with liberals and leftists in the elections, and promises that there will be no attempt to hijack the constitutional reform process afterward. ""The new constitution has to be written by all Egyptians,"" says Essam Erian, a top Brotherhood leader. ""No one group should have a louder voice than the others."" This makes the Islamists look responsible and conciliatory, and is likely to play well with voters. (See more on the Brotherhood's election strategy in posts to come.)

In Iraq, it took the liberals years to catch up with the religious parties in organizational and campaigning skills. In the last election, Allawi finally cobbled together a coalition that won more seats than any other group, only to be outmaneuvered by postelection horse trading. If Egypt's liberals aren't careful, a similar fate awaits them.





Bobby Ghosh, TIME's Deputy International Editor, writes mainly about conflict and terrorism. His previous assignments have included stints in Iraq, London and Hong Kong. He has also traveled extensively in the Middle East.



























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"
IMAGES-001-HOUSE_OVERSIGHT_010809.txt,"oOnrat nu FWD

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281

What was his motive against you?

A. I was Jeffrey Epstein’s friend and lawyer
and, in fact -- well, I can't get into this. But I
can say this, I gave advice --

MR. SCOTT: Be careful about anything
involving --

THE WITNESS: Okay.

MR. SCOTT: -- Mr. Epstein, please.

A. He could easily have believed that 1 was
one of the causes of his firing.

BY MR. SCAROLA:

Q. So, he was -- he may have been angry at
you because you assisted in getting him fired?

A. It's --

MR. SCOTT: Objection,
mischaracterization.

A. It's conjecture. It's possible. But in
any event, even --

BY MR. SCAROLA:

Q. It's conjecture, is that what you were
about to say?

A. I'm saying I have -- I don't know what he
was thinking, but there is a basis for him believing
that. But most -- most important, even if you take
everything he says as true, which it's not, it's

wo Owas HAM FW NY

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283

A. Yes.

Q. A man who would never undertake to advance
the cause of a client whom he believed to be
incredible, right?

A. Yes. And a man who told me and a man
who --

MR. SCOTT: That's it.

A. Okay. And aman who believes I'm
innocent.

BY MR. SCAROLA:

Q. You knew that Bob Josefsberg would never
file charges on behalf of a client alleging that she
was lent out by Jeffrey Epstein for purposes of
sexual abuse while she was a minor to academicians
unless he absolutely had confidence that those
statements were true --

MR. SCOTT: Let me object -
BY MR. SCAROLA:

Q. ~~ right?

MR. SCOTT: -- that this is completely
irrelevant to the issues in this case.

Whatever Mr. Josefsberg thinks has nothing to

do with this lawsuit. This is all your effort

to try to put Josefsberg into this case to try

to give some justification to your position.

282

exculpatory because it has no suggestion that | ever
had any sexual encounter with Virginia Roberts.
And if | were a lawyer reading that --
MR. SCOTT: It’s okay?

A. -- [certainly would not base this heinous

accusation on that flimsy read.
BY MR. SCAROLA:

Q. You know the context in which that
deposition was taken, den't you?

A. I don't recall it as I'm sitting here
today.

Q. Do you remember that the lawsuit in which
that deposition was taken was a lawsuit in which
Virginia Roberts was being represented by Bob
Josefsberg?

A. No.

Q. You know Bob Josefsberg, don't you?

A. We -- we were classmates at law school.

Q. You know Bob Josefsberg to be an extremely
ethical, highly professional and extraordinarily
well-respected lawyer, right?

. Absolutely, yes.
. Absolutely?
. Yeah.
A man of impeccable honesty and integrity?

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A. Tl answer that question.
BY MR. SCAROLA:

Q. Thank you.

A. And also know Bob Josefsberg and know
that he would never maintain a friendship, as he has
with me, if he believed that | was one of the,
quote, academicians --

Q. Well, how about —

A. -- with whom --

Q. -- answering my question --

MR. SCOTT: Wait a minute. No, no, no.

A. You're going to let me finish.

BY MR. SCAROLA:

Q. Lknow I'm going to go, but I don't have
to like it —

MR. SCOTT: Yeah, but --
BY MR. SCAROLA:
Q. ~- when you're not being responsive to the
questions that are being asked.
MR. SCOTT: Yeah, but you're
interjecting ~
BY MR. SCAROLA:

Q. And --

MR. SCOTT: You're interjecting questions
that are irrelevant utilizing Bob Josefsberg's

27 (Pages 281 to 284)

www.phippsreporting.com
(888) 811-3408

HOUSE_OVERSIGHT_010809
"
IMAGES-010-HOUSE_OVERSIGHT_029486.txt,"Business Expansion Portfolio and Prospectus
Twin City Care of The Virgin Islands
11

Past

Prior to TCMIH there were no Advance Life Support Ambulance providing interfacility service
on St. Croix and the Governor Juan F. Luis Hospital was left on numerous occasions with patients
who were discharged tying up beds. Transports for Patients who need stretcher services were being
transported by the 911 emergency ambulances after no alternatives were provided. The research
show that an overwhelming number of patients that need stretcher transportation and medical
monitoring could not be provided by the current services on St. Croix.

Present

Presently, the competitor, Wheel Coach Services, hasn’t the ability or the authorization to bill the
customers insurance and in many cases the patients and family members will have to pay for their
own ambulance / stretcher transportation home. The request for Non-emergency ambulance
services has experienced an increase on St. Croix 88-92% and has been channeled through the 911
system. Today we also find a lack of Non-emergency ambulance services to provide timely
transportation. This constantly creates a multi-tiered domino effect when patients cannot be moved
out of the hospital. Discharged patients are tying up valuable beds, family members are angry and
receiving facilities are not going to accept late patients. Current reimbursements of ambulance
services that are medically necessary are at 100% if filed correctly.

Future

With the present situation of the Governor Juan F. Luis & Lester Schneider Hospital the need to
mobilize patients frequently, has caused a growth spurt within the district of St. Croix, St. Thomas,
St. John and will continue to grow. This growth will be perpetuated by the hospitals need to
transport patients from its facility to either a nursing home or home healthcare. Twin City will
currently fill part of the void by providing non-emergency and urgent advance life support
ambulance transport to and from JFLH, nursing homes and other health facilities / organizations
which would avoid much needed bed delays.

Service Definition

Non-Medical Stretcher service is stretcher patient transportation that requires no medical attention
or treatment. The service is provided by utilizing a high-top van with a stretcher mounted in the
back or transport of a patient in an ambulance without providing basic medical care / monitoring
and is being provided by Wheel Coach Services locally. Twin City will provide Ambulance
services which are categorized in the following manner and staffing patterns:

1. ALS ambulance services — One (1) AEMT and One (1) EMR or EMT
2. ALS 2 ambulance services — One (1) Paramedic and One (1) AEMT or EMT

HOUSE_OVERSIGHT_029486
"
IMAGES-010-HOUSE_OVERSIGHT_028940.txt,"On Davis, | 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 Ces 8 =|

Sent: Thursday, September 10, 2015 1:51 AM

To: Noam Chomsky qa jeffrey £. <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

Arizona State University, P.O. Box 871404, Tempe, AZ 85287-1404

Research Office: AD ssistant
Origins Office

krauss@asu.edu

origins.asu.edu | twitter.com/Ikrauss1 | 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

HOUSE_OVERSIGHT_028940
"
IMAGES-006-HOUSE_OVERSIGHT_022303.txt,"54032

Federal Register/Vol. 76, No. 168/Tuesday, August 30, 2011/Rules and Regulations

employee rights as well as a remedial
notice.14° 75 FR 80414.

The comments opposing this proposal
make three principal arguments. First,
only Congress, not the Board, has the
authority to ‘create a new unfair labor
practice.” 141 Second, even if the Board
possesses such authority, it has not
identified the Section 7 rights that
would be interfered with by an
employer’s failure to post the notice.142
Third, “interfer[ing] with, restrain[ing],
or coercling]’’ employees within the
meaning of NLRA Section 8(a)(1)
necessarily involves action, not failure
to act; therefore, failure to post the
notice cannot violate Section 8(a)(1).14%
The Board finds no merit in any of these
contentions.

To begin with, it is incorrect to say
that the Board lacks the authority to find
that failure to post the notice violates
Section 8(a)(1) without Congressional
approval. It is true, as the Society for
Human Resource Management states,
that “Section 10(a) of the Act
specifically limits the NLRB’s powers to
preventing only the unfair labor
practices listed in Section 8 of the Act.
Section 8 is silent regarding any notice
posting requirement (emphasis in
original).’”” However, as the Supreme
Court remarked long ago,

The [NLRA] did not undertake the
impossible task of specifying in precise and
unmistakable language each incident which
would constitute an unfair labor practice. On
the contrary that Act left to the Board the
work of applying the Act’s general
prohibitory language in the light of the
infinite combinations of events which might
be charged as violative of its terms. Thus a
“rigid scheme of remedies” is avoided and
administrative flexibility within appropriate
statutory limitations obtained to accomplish
the dominant purpose of the legislation.

Republic Aviation Corporation v. NLRB,
324 U.S. 793, 798 (1945) (citation
omitted). Accordingly, since its
creation, the Board in interpreting
Section 8(a)(1) has found numerous
actions as to which “Section 8 is

silent” —e.g., coercively interrogating
employees about their protected
concerted activities, engaging in

140 Consistent with precedent, it will be unlawful
for an employer to threaten or retaliate against an
employee for filing charges or testifying in a Board
proceeding involving an alleged violation of the
notice-posting requirement. NLRA Sections 8(a)(1),
8(a)(4), 29 U.S.C. 158(a)(1), (4); Romar Refuse
Removal, 314 NLRB 658 (1994).

141 See, e.g., comments of FMI, Assisted Living
Federation of America (ALFA).

142 See, e.g., comment of U. S. Chamber of
Commerce.

143 See, e.g., comments of Employment and Labor
Law Committee, Association of Corporate Counsel
(“ACC”); California Chamber of Commerce
(California Chamber); and National Council of
Agricultural Employers (NCAE).

surveillance of employees’ union
activities, threatening employees with
retaliation for engaging in protected
activities—to violate Section 8(a)(1) by
“interfer[ing] with, restrain[ing], or
coerc[ing] employees in the exercise of
the rights guaranteed in section 7” of
the NLRA. Section 8 is equally silent
concerning unions’ duty to inform
employees of their rights under NLKB v.
General Motors, above, and
Communications Workers v. Beck,
above, before attempting to obligate
them pursuant to a union-securily
clause, yet the Board finds that a
union’s failure to provide that notice
restrains and coerces employees in
violation of Section 8(b)(1)(A).
California Saw & Knife Works, above,
320 NLRB at 233, 259, 261.144

Because, as described in detail above,
notice posting is necessary to ensure
effective exercise of Section 7 rights, a
refusal to post the required notice is at
least an interference with employees’
exercise of those rights. For these
reasons, in finding that an employer’s
failure to post the required notice
interferes with, restrains, or coerces
employees in the exercise of their NLRA
rights, in violation of Section 8(a)(1), the
Board is acting consistently with its
settled practice. Some comments claim
that the Board has not identified any
specific Section 7 right to justify this
remedy. But such specificity is not
needed, because all Section 7 rights are
implicated by an employer’s failure to
post the required notice. As previously
stated, there is a strong nexus between
knowledge of Section 7 rights and their
free exercise. It therefore follows that an
employer’s failure to post this notice,
which informs employees of their
Section 7 rights, reasonably tends to
interfere with the exercise of such
rights.

Finally, although most violations of
the NLRA involve actions rather than
failures to act, there are instances in
which a failure to act may be found to
interfere with, restrain, or coerce
employees in the exercise of their
Section 7 rights. Thus, a union’s failure
to provide the required notices under
NLRB v. General Motors, above, and

144 See Harkin and Miller. Although the Board
suggested in a footnote in California Saw that there
was no obligation to inform employees of their
Section 7 rights, 320 NLRB at 232 n. 42, this dicta
merely indicated that no such obligation had yet
been recognized in that particular context. To the
extent it could be read as denying that such an
obligation may exist, it is the considered view of the
Board that this reading must be rejected. Similarly,
the statement in U.S. Postal Service, 241 N.L.R.B.
141, 152 (1979), regarding affirmative notice
obligations is limited to Weingarten rights, and, in
any event, does not suggest that notice of NLRA
rights may never be required.

Communications Workers v. Beck,
above, violates Section 8(b)(1)(A) of the
NLRA. California Saw & Knife Works,
above, 320 NLRB at 233, 259, 261. An
employer that fails or refuses to execute
an agreed-to collective-bargaining
agreement on request of the union
violates Section 8(d), 8(a)(5) and,
derivatively, Section 8(a)(1). An
employer that fails to provide relevant
information requested by the union that
represents the employer’s employees
violates Section 8(a)(5) and (1). See, e.g.,
NLEB v. Truitt Mfg. Co., 351 U.S. 149
(1956).

The NLRA’s recognition that a failure
to perform a legal duty may constitute
unlawful interference, coercion or
restraint is not unique. Courts have
expressly held that the failure to post
notice required by regulation can be an
“interference” with employee Family
and Medical Leave Act rights. In a
provision that “largely mimics thle
language of] § 8(a)(1) of the NLRA,”
Bachelder v. Am. W. Airlines, 259 F. 3d
1112, 1123 (9th Cir. 2001), the FMLA
states that “‘[i]t shall be unlawful for any
employer to interfere with, restrain, or
deny the exercise of or the attempt to
exercise, any right provided under this
title.” 29 U.S.C. 2615(a)(1). In
interpreting this language, the
Department of Labor’s regulations
specifically state that failure to post the
required notice of FMLA rights “may
constitute an interference with,
restraint, or denial of the exercise of an
employee’s FMLA rights” under section
2615(a)(1). 29 CFR 825.300(e). Courts
have agreed, finding that the failure to
provide FMLA notices is an “adverse
action” against the employee that
supports a prima facie case of
interference. Greenwell v. Charles
Machine Works, Inc., (W.D. Ok. April
15, 2011); Smith v. Westchester County,
(S.D.N.Y. February 14, 2011).
Accordingly, the Board finds no
impediment to declaring that an
employer’s failure to post the required
notice will violate Section 8(a)(1).145

As it explained in the NPRM,
however, the Board expects that, in
practice, few violations will be found
for failures to post the notice. The Board
anticipates that most employers that fail
to post the notice will do so because
they are unaware of the rule, and that
when they learn about the rule, they
will post the notice without the need for
formal administrative action or
litigation. 75 FR 80414. To that end,

§ 104.212(a) of the rule states that if an

145 ALFA contends that failure to post a Board-
required notice is not an unfair labor practice, but
the authorities cited do not support that
proposition.

HOUSE_OVERSIGHT_022303
"
IMAGES-002-HOUSE_OVERSIGHT_013160.txt,"HOUSE_OVERSIGHT_013160
"
IMAGES-011-HOUSE_OVERSIGHT_032389.txt,"From:

Sent: 12/7/2016 5:29:21 PM
To: jeevacation@gmail.com
Subject: Re:

Importance: — High

yikes your birthday coming up next month

In a message dated 12/7/2016 12:25:22 P.M. Eastern Standard Time, jeevacation@gmail.com writes:
plenty left

On Wed, Dec 7, 2016 at 1:01 PM, Jonathan Farkas EEE wrote:
Hi jeffrey hope all is well | think you are going to have a winderful life from now on in your opinion how much is left in this
market it's been a trump triumph | gave him some money through woody best jonathan

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_032389
"
IMAGES-003-HOUSE_OVERSIGHT_016445.txt,"HOUSE_OVERSIGHT_016445
"
TEXT-001-HOUSE_OVERSIGHT_030142.txt,"﻿

                    Proposal 







• Introduction 
• What is JASTA?
• What is the impact of JASTA on KSA politically and economically?







• Our approach to find the weaknesses 
• Title 
     Content 
2. Title 
     Content 







• Timeline 
• Timeline of our approach 







• Actions  
• 1. Signing the agreement (Payment method, successful fee)  
• 2. Program Launching 







• Leaders 
• Kathryn Ruemmler

Kathryn is an attorney who formerly served as White House Counsel to President Barack Obama. She previously worked as Principal Deputy White House Counsel.
Former federal prosecutor who helped lead the government’s case against the former executives of Enron. 
In 2006, she delivered the government's closing argument in the trial of former Enron executives Kenneth Lay and Jeffrey Skilling. 
She returned to Latham in 2007, this time as a partner.
 From 2000 to 2001 she served as Associate Counsel to President Clinton. 
She was a litigation partner in the Washington, D.C. office of Latham & Watkins from 2007
She serve as principal associate deputy attorney general at the Justice Department.
In 2014 Ruemmler was speculated as being a potential candidate as the next United States Attorney General








• Ken Starr

• Ken Starr is an American lawyer who has also been a federal judge and U.S. Solicitor General. 
• Former President and Chancellor of Baylor University
• Held the Louise L. Morrison Chair of Constitutional Law at Baylor University Law School.
•  He carried out a controversial investigation of members of the Clinton administration.
• Starr served as a federal Court of Appeals judge and as solicitor general for George H. W. Bush. 
• He received the most publicity for his tenure as independent counsel while Bill Clinton was U.S. president. 
• The three-judge panel charged with administering the Independent Counsel Act later expanded the inquiry into numerous areas including an extramarital affair that Bill Clinton had with Monica Lewinsky. 
• After several years of investigation, Starr filed the Starr Report, which alleged that Bill Clinton had lied about the existence of the affair during a sworn deposition. 

•  



"
IMAGES-010-HOUSE_OVERSIGHT_029492.txt,"Business Expansion Portfolio and Prospectus
Twin City Care of The Virgin Islands
17

Gea ED) $6800.00 ea. $6800.00 X 1 $6,800.00
Ferno

Combination

Backboard/Scoop $950.00 ea $950.00 X 2 $1,900.00

Head Immobilizer $130.00 ea $130.00 X 4 $520.00
Pedi Board $180.00 ea $180.00 X 2 $360.00

LifePak 15 Defib/ Monitor * as $27000.00 X 2 $54,000.00

$640.00
$756.00
$180.00
$900.00
$4,000.00

ms EMS Pedi Braslow | ¢1350.00ea. | $1320.00 X2 $2,640.00

Total $75,194.00

Ambulance 2017
Amt. TOTAL
Sprinter Ambulance 2018 $245,617.74 1 $245,617.74

or Vee .. | ee | ,
ening (Gani WSU ain. wes nal ,
Peeemees Vi -y sri yl
ee SE

Cost

HOUSE_OVERSIGHT_029492
"
IMAGES-006-HOUSE_OVERSIGHT_022317.txt,"54046

Federal Register/Vol. 76, No. 168/Tuesday, August 30, 2011/Rules and Regulations

effective date of the rule is 75 days after
publication in the Federal Register.21%

List of Subjects in 29 CFR Part 104

Administrative practice and
procedure, Employee rights, Labor
unions.

Text of Final Rule

Accordingly, a new part 104 is added
to 29 CFR chapter 1 to read as follows:

PART 104—NOTIFICATION OF
EMPLOYEE RIGHTS; OBLIGATIONS
OF EMPLOYERS

Subpart A—Definitions, Requirements for
Employee Notice, and Exceptions and
Exemptions

Sec.

104.201 What definitions apply to this part?

104.202 What employee notice must
employers subject to the NLRA post in
the workplace?

104.203 Are Federal contractors covered
under this part?

104.204 What entities are not subject to this
part?

Appendix to Subpart A—Text of Employee
Notice

Subpart B—General Enforcement and
Complaint Procedures

104.210 How will the Board determine
whether an employer is in compliance
with this part?

104.211 What are the procedures for filing
a charge?

104.212 What are the procedures to be
followed when a charge is filed alleging
that an employer has failed to post the
required employee notice?

104.213 What remedies are available to cure
a failure to post the employee notice?

104.214 How might other Board
proceedings be affected by failure to post
the employee notice?

Subpart C—Ancillary Matters

104.220 What other provisions apply to this
part?

rule’ because, as explained in the discussion of the
Regulatory Flexibility Act above, the Board has
estimated that the average cost of compliance with
the rule will be approximately $64.40 per affected
employer; thus, because there are some 6 million
employers that could potentially be affected by the
rule, the total cost to the economy of compliance
with the rule will be approximately $386.4 million.
As further explained, nearly all of that cost will be
incurred during the year in which the rule takes
effect; in subsequent years, the only costs of
compliance will be those incurred by employers
that either open new facilities or expand existing
ones, and those that for one reason or another fail
to comply with the rule during the first year. The
Board therefore expects that the costs of compliance
will be far less than $100 million in the second and
subsequent years. The Board is confident that the
rule will have none of the effects enumerated in 5
U.S.C. 804(2)(B) and (C) above.

213 The Board finds unpersuasive the suggestions
in several comments that the effective date of the
rule be postponed to as late as April 15, 2012. The
Board finds nothing in the requirements of the rule
or in the comments received that would warrant
postponing the effective date.

Authority: National Labor Relations Act
(NLRA), Section 6, 29 U.S.C. 156;
Administrative Procedure Act, 5 U.S.C. 553.

Subpart A—Definitions, Requirements
for Employee Notice, and Exceptions
and Exemptions

§ 104.201
part?

Employee includes any employee, and
is not limited to the employees of a
particular employer, unless the NLRA
explicitly states otherwise. The term
includes anyone whose work has ceased
because of, or in connection with, any
current labor dispute or because of any
unfair labor practice, and who has not
obtained any other regular and
substantially equivalent employment.
However, it does not include
agricultural laborers, supervisors, or
independent contractors, or anyone
employed in the domestic service of any
family or person at his home, or by his
parent or spouse, or by an employer
subject to the Railway Labor Act (45
U.S.C. 151 ef seq.), or by any other
person who is not an employer as
defined in the NLRA. 29 U.S.C. 152(3).

Employee notice means the notice set
forth in the Appendix to Subpart A of
this part that employers subject to the
NLRA must post pursuant to this part.

Employer includes any person acting
as an agent of an employer, directly or
indirectly. The term does not include
the United States or any wholly owned
Government corporation, or any Federal
Reserve Bank, or any State or political
subdivision thereof, or any person
subject to the Railway Labor Act, or any
labor organization (other than when
acting as an employer), or anyone acting
in the capacity of officer or agent of
such labor organization. 29 U.S.C.
152(2). Further, the term “‘employer”
does not include entities over which the
Board has been found not to have
jurisdiction, or over which the Board
has chosen through regulation or
adjudication not to assert jurisdiction.

Labor organization means any
organization of any kind, or any agency
or employee representation committee
or plan, in which employees participate
and which exists for the purpose, in
whole or in part, of dealing with
employers concerning grievances, labor
disputes, wages, rates of pay, hours of
employment, or conditions of work. 29
U.S.C. 152(5).

National Labor Relations Board
(Board) means the National Labor
Relations Board provided for in section
3 of the National Labor Relations Act, 29
U.S.C. 153. 29 U.S.C. 152(10).

Person includes one or more
individuals, labor organizations,

What definitions apply to this

partnerships, associations, corporations,
legal representatives, trustees, trustees
in cases under title 11 of the United
States Code, or receivers. 29 U.S.C.
152(1).

Rules, regulations, and orders, as used
in § 104.202, means rules, regulations,
and relevant orders issued by the Board
pursuant to this part.

Supervisor means any individual
having authority, in the interest of the
employer, to hire, transfer, suspend, lay
off, recall, promote, discharge, assign,
reward, or discipline other employees,
or responsibly to direct them, or to
adjust their grievances, or effectively to
recommend such action, if in
connection with the foregoing the
exercise of such authority is not of a
merely routine or clerical nature, but
requires the use of independent
judgment. 29 U.S.C. 152(11).

Unfair labor practice means any
unfair labor practice listed in section 8
of the National Labor Relations Act, 29
U.S.C. 158. 29 U.S.C. 152(8).

Union means a labor organization as
defined above.

§ 104.202 What employee notice must
employers subject to the NLRA post in the
workplace?

(a) Posting of emplovee notice. All
employers subject to the NLRA must
post notices to employees, in
conspicuous places, informing them of
their NLRA rights, together with Board
contact information and information
concerning basic enforcement
procedures, in the language set forth in
the Appendix to Subpart A of this part.

(b) Size and form requirements. The
notice to employees shall be at least 11
inches by 17 inches in size, and in such
format, type size, and style as the Board
shall prescribe. If an employer chooses
to print the notice after downloading it
from the Board’s Web site, the printed
notice shall be at least 11 inches by 17
inches in size.

(c) Adaptation of language. The
National Labor Relations Board may
find that an Act of Congress,
clarification of existing law by the
courts or the Board, or other
circumstances make modification of the
employee notice necessary to achieve
the purposes of this part. In such
circumstances, the Board will promptly
issue rules, regulations, or orders as are
needed to ensure that all future
employee notices contain appropriate
language to achieve the purposes of this

art.
p (d) Physical posting of employee
notice. The employee notice must be
posted in conspicuous places where
they are readily seen by employees,
including all places where notices to

HOUSE_OVERSIGHT_022317
"
IMAGES-010-HOUSE_OVERSIGHT_028954.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_028954
"
IMAGES-005-HOUSE_OVERSIGHT_019139.txt,"Firtuy Ricu

Officer Pagan’s starting to feel as though she’s swimming in
uncharted waters. She’s young, and the cases she’s worked before
this have been minor. Robberies, that sort of thing. Pagan’s not
used to the Gold Coast. She was educated in New York City, and,
to her, the less affluent towns further in from the Coast might as

——

well be somewhere in Georgia. Then again, she knows enough to

sore

know that in the back of the station, detectives are already
CHAPT ER 8 whispering.

What’s a guy with that kind of money need with some girl from
out west? The women around here could make a man cry.

Extortion?

The kid’s fourteen. What would she know from extortion?

Have you seen the shows these kids watch? They know about
things we’ve never dreamed about.

No, Pagan thinks. This is her case.

a police officer Michele Pagan She’s the one who's going to work it.

{ary’s stepmother.
’m going to have to ask you to {

ig more until | speak with my f

it Pd urge you to come in. Let us

x the rest of the day. We're on
does most of the talking.

says. “At school. A fight between

-ase understand, our Mary's not “i

22

HOUSE_OVERSIGHT_019139
"
IMAGES-002-HOUSE_OVERSIGHT_013174.txt,"258 13 Local, Global and Glocal Knowledge Representation

13.5 Neural Foundations of Learning

Now we move from knowledge representation to learning — which is after all nothing but the
adaptation of represented knowledge based on stimulus, reinforcement and spontaneous activity.
While our focus in this chapter is on representation, it’s not possible for us to make our points
about glocal knowledge representation in neural net type systems without discussing some
aspects of learning in these systems.

13.5.1 Hebbian Learning

The most common and plausible assumption about learning in the brain is that synaptic connec-
tions between neurons are adapted via some variant of Hebbian learning. The original Hebbian
learning rule, proposed by Donald Hebb in his 1949 book [Heb49], was roughly

1. The weight of the synapse 2 > y increases if x and y fire at roughly the same time
2. The weight of the synapse « — y decreases if x fires at a certain time but y does not

Over the years since Hebb’s original proposal, many neurobiologists have sought evidence that
the brain actually uses such a method. One of the things they have found, so far, is a lot of
evidence for the following learning rule [DC02, LS05]:

1. The weight of the synapse x > y increases if x fires shortly before y does
2. The weight of the synapse « — y decreases if x fires shortly after y does

The new thing here, not foreseen by Donald Hebb, is the “postsynaptic depression” involved in
rule component 2.

Now, the simple rule stated above does not sum up all the research recently done on Hebbian-
type learning mechanisms in the brain. The real biological story underlying these approximate
rules is quite complex, involving many particulars to do with various neurotransmitters. IIl-
understood details aside, however, there is an increasing body of evidence that not only does
this sort of learning occur in the brain, but it leads to distributed experience-based neural
modification: that is, one instance synaptic modification causes another instance of synaptic
modification, which causes another, and so forth? [Bi01].

13.5.2 Virtual Synapses and Hebbian Learning Between Assemblies

Hebbian learning is conventionally formulated in terms of individual neurons, but, it can be
extended naturally to assemblies via defining “virtual synapses” between assemblies.

Since assemblies are sets of neurons, one can view a synapse as linking two assemblies
if it links two neurons, each of which is in one of the assemblies. One can then view
two assemblies as being linked by a bundle of synapses. We can define the weight of the
synaptic bundle from assembly Al to assembly A2 as the number w so that (the change

? This has been observed in “model systems” consisting of neurons extracted from a brain and hooked together
in a laboratory setting and monitored; measurement of such dynamics in vivo is obviously more difficult.

HOUSE_OVERSIGHT_013174
"
IMAGES-011-HOUSE_OVERSIGHT_031694.txt,"From:

Sent: 4/30/2011 9:36:09 PM
To: Jefffrey Epstein [jeevacation@gmail.com]
Subject: Fw: from Jesse Kornbluth

Importance: — High

Sent via BlackBerry by AT&T

From: ""Peggy Siegal”

Date: Sat, 30 Apr 2011 16:59:25 -0400
To:

Subject: Fw: from Jesse Kornbluth

Jesse Kornbluth could never make a dime. He is an angry loser who was married to Annette Tapert years ago.(She now is married to
Joe Allen and they live near you in PB) Annette left him because there was no bread on the table and he is nasty.

What should I do? Call him or not? Peg

n--- Original Message -----

From: Jesse Kornbluth (iii 7!

To: Peggy Siegal

Ce: Jesse Kornbluth

Sent: Sat Apr 30 16:29:18 2011

Subject: Re: from Jesse Kornbluth

Peg --

Obviously, I'm sharing what follows on the assumption that everything here is just between us.

The thesis of the Times piece is that the rich and their corporations have SO much power
that we no longer live in a democracy.

Can ""we the people"" make change? Not really.
Who can? The rich and powerful.
Huh? All they want is the status quo. Or more.

But they could --- okay, it's not likely, but they could --- turn on the bad actors at their social/economic level.
For example: Wall Street CEOs, donors to the Tea Party, etc.

That's the topic. Shaming. Shunning.
One of the people I deal with --- there are several others. --- is Jeffrey Epstein.
Reading the clips, I don't see that Jeffrey as been shunned.

In this piece --- http://www.thedailybeast.com/blogs-and-stories/2011-04-01/bill-clinton-katie-couric-woody-allen-jeffrey-epsteins-
society-friends-close-ranks/ ---

Tread:

The crowd at the events top publicist Peggy Siegal has organized for Epstein proves the point, at least behind closed doors. ""I and
many others that know him describe him as brilliant,"" says Siegal.

""His unique mind is what attracts the world's smartest people to his home."" Last September, with Siegal's help, Epstein hosted a Break
Fast after Yom Kippur. A group of 120 friends brought their children over for a buffet dinner

This was just a few months after he finished his prison obligations in Florida.
And here he is, entertaining --- with children present.

HOUSE_OVERSIGHT_031694
"
IMAGES-004-HOUSE_OVERSIGHT_016643.txt,"DESALINATION PLANT OPTION

City Dedicates Seawater Plant for Town

Beach

é Additional capital and operational costs to Town of |
Palm Beach

Desalination plant located on City property

secure
reliable
sustainable

HOUSE_OVERSIGHT_016643
"
TEXT-001-HOUSE_OVERSIGHT_025229.txt,"﻿August 4, 2011
Today
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
1
August 4, 2011
Today
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 as shown in the chart from JP Morgan Securities, 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
2
"
IMAGES-007-HOUSE_OVERSIGHT_023440.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 9/20/2014 5:29:55 AM
To: Kathy Ruemmler | |
Subject: Re:

He is a pseudo intellectual . Friendship is a complex biological process . Part altruism part cooperation , it does
not lead to genetic fitness , friends are not inherited with genes . Nick christophalos at kit has done much work .
That being said , I get your point

On Friday, September 19, 2014, Kathy Ruemmler - i—i‘i—sSOSOSOSCsCS wrote:

Did you read David Brooks today?
On Sep 19, 2014 9:58 PM, ""Kathy Ruemmler"" gg wrote:
I will try.

On Sep 19, 2014 8:52 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
try to get a good night sleep. see you sunday

On Fri, Sep 19, 2014 at 8:48 PM, Kathy Ruemmler - | @ wrote:

Harder to say no for sure.

On Sep 19, 2014 8:46 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
I assume that means harder to say no, ? easier to say yes. .

On Fri, Sep 19, 2014 at 8:38 PM, Kathy Ruemmler i wrote:

Both harder and easier. He was there.

On Sep 19, 2014 8:32 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
decision :easier, harder, more complex?

On Fri, Sep 19, 2014 at 8:17 PM, Kathy Ruemm|cr Si > wrote:

I have so much more info to tell you on Sunday.

On Sep 19, 2014 8:16 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
how much and who pays now?

On Fri, Sep 19, 2014 at 5:35 PM, Kathy Ruemmler ~  00—sssi‘ wrote:

I will. The rent on the apartment is significantly more than the monthly salary.

On Sep 19, 2014 5:34 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
no need to. call eric and get a data point

On Fri, Sep 19, 2014 at 5:23 PM, Kathy Ruemm|cr (> wrote:

I don't want to give up my apartment in NY.

On Sep 19, 2014 5:18 PM, ""Kathy Ruemmler"" {i wrote:

Good advice.

On Sep 19, 2014 5:15 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
lets see how you feel sunday

On Fri, Sep 19, 2014 at 5:12 PM, Kathy Ruemmler :_  § wrote:

HOUSE_OVERSIGHT_023440
"
IMAGES-008-HOUSE_OVERSIGHT_025712.txt,"Time: 08/18/18 05:25:14 AM

Flags: 1060865

Is Read:

Yes

Is Invitation: No

(556287914)

GUID: BBFSECE4-5E65-4E03-8 9DA-145F5F3AEE77

Message:

Sender:

Dialed it way back

:jeeitunes@gmail.com

Time: 08/18/18 05:27:06 AM

Flags: 1085445

Is Read:

No

Is Invitation: No

GUID: 74A65]

Message:

(556288026)

Mike tyson waltzing

E20-22C7-4497-A976-46F521066C18

Time: 08/18/18 05:29:02 AM

Flags: 1060865

Is Read:

Yes

Is Invitation: No

GUID: 987DE573-E4

5

(556288142)

Messag
doing to

Sender:

these guys

:jeeitunes@gmail.com

Time: 08/18/18 05:40:37 AM

Flags: 1085445

Is Read:

No

Is Invitation: No

GUID: BF

Message: Actually the first of Very many to come.
Your eye is the best ,

better for you?

Over the

Agr but different audience wi

1E-4ABF-9F49-1B60414403E1

(556288837)

shoulder for him ,

too restrictive for you. ?

Time: 08
Flags: 1

Is Read:

/18/18 05:43:21 AM
060865

Yes

Is Invitation: No

GUID: 59

Message:

E91471-9AA5-4015-83

E67DC7-BAEC-4475-8A09-2567C360BBD8

3/4 for you.

(556289001)

EZ

Yes

E78FSD63AF5

th a different tonality --first of many I'm

Thats why -what tweaks will make it

so important for you to watch the play reel.
lighting. . hot for you. /. chairs . ?
Loved pulling out the FT.  .!

HOUSE_OVERSIGHT_025712
"
IMAGES-009-HOUSE_OVERSIGHT_026652.txt,"From: Kathy Ruemm|cr

Sent: 1/24/2017 4:21:55 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Fwd: Press: Heatstreat- ‘Shady’ Israeli Mogul Hires Ex-White House Counsel To Represent Employee Arrested in

Inauguration Day Riot, Raising Questions
Attachments: image001.jpg; image005.jpg; image004.jpg; image003.jpg; image007.jpg; image008.jpg; image002.jpg; image006.jpg

Importance: — High

Look at this craziness.

Begin forwarded message:

fon:

Date: January 24, 2017 at 10:54:59 AM EST

To:

Subject: FW: Press: Heatstreat- ‘Shady’ Israeli Mogul Hires Ex-White House Counsel To Represent
Employee Arrested in Inauguration Day Riot, Raising Questions

From: Zuieback, Jamie (DC) <i

Date: Tuesday, Jan 24, 2017, 10:37 AM

To: Ruemmler, Kathy (DC) <r

Subject: RE: Press: Heatstreat- ‘Shady’ Israeli Mogul Hires Ex-White House Counsel To Represent Employee
Arrested in Inauguration Day Riot, Raising Questions

I’m dying to hear about your weekend. I can’t take credit, but I heard someone say that you handling this was
like asking your buddies if they had anyone who could fill in for a pick-up game, and somebody sends over
LeBron.

From: Ruemmler, Kathy (DC)

Sent: Tuesday, January 24, 2017 10:24 AM

To: Glick, Jamie (DC); Kurlander, Stuart (DC)

Ce: Zuieback, Jamie (DC); Alexander, Kimberly (DC)

Subject: RE: Press: Heatstreat- ‘Shady’ Israeli Mogul Hires Ex-White House Counsel To Represent Employee
Arrested in Inauguration Day Riot, Raising Questions

Gotta love the conspiracy theorists

From: Glick, Jamic (DC)

Date: Tuesday, Jan 24, 2017, 10:04 AM

To: Ruemmler, Kathy (DC) , Kurlander,
Stuart (DC) < =
Ce: Zuieback, Jamie (DC) < >, Alexander,

Kimberly (DC) <i

HOUSE_OVERSIGHT_026652
"
IMAGES-007-HOUSE_OVERSIGHT_022986.txt,"a | LOG IN

HOUSE_OVERSIGHT_022986
"
IMAGES-006-HOUSE_OVERSIGHT_020500.txt,"41

Confucius Institutes

One of the most controversial aspects of the whole US-China educational exchange

is the Confucius Institutes (CI), of which there are now 110 (plus 501 Confucius
Classrooms in secondary schools) across the United States.* For secondary schools and
colleges that have no or little other coverage of China on campus, CIs are an important
resource. Sponsored by the Hanban, an organization directly under the Ministry of
Education in Beijing, but also with ties to the External Propaganda Leading Group of
the CCP Central Committee, the primary mission of CIs is to teach Chinese language
and culture abroad. However, faculty and other watchdogs have warned that they may
present risks to intellectual freedom by using American universities as vehicles through
which to advance Chinese Communist Party propaganda. Accusations leveled at Cls
revolve mainly around the exclusive use of PRC materials that promote PRC Chinese
viewpoints, terminology, and simplified characters; the avoidance of discussion

on controversial topics such as Tibet, Tiananmen, Xinjiang, the Falun Gong, and
human rights in American classrooms and programs; and potential infringement on
theoretically independent studies curricula on American campuses.

Although proponents of CIs like to compare them with branches of France’s L’Alliance
Francaise, Germany’s Goethe Instituts, and Spain’s Cervantes Institute, they are
different in important ways. Unlike these other institutions, CIs are joint operations
located inside—and co-funded by—a host university or secondary school for which
the Hanban arranges a Chinese university to supply teachers, textbooks, and other
materials. The teachers are paid by the Chinese university (and hence do not hold
green cards or pay US taxes). Typically, the Hanban provides a $150,000 start-up grant
with $100,000—$200,000 per year follow-on funding (depending on the institution)
directly to the American university. Secondary schools normally receive $50,000 in
initial funding and $15,000 subsequently per annum. Most troublesome are two
provisions in the Hanban contracts with US host institutions: One forbids the Cls
from conducting any activities that contravene Chinese law while the other requires
that the enabling contract remain confidential, making oversight by the academic
community difficult.

Some participating American institutions have belatedly had second thoughts about
their partnerships. In 2014, the University of Chicago terminated its CI contract

with the Hanban after months of controversy among faculty, spurred by a high-
profile critical article by an emeritus member.’ Since that time, at least two additional
American universities have also closed their branches (Pennsylvania State University
and University of West Florida),!° and Senator Marco Rubio (R-FL), a leading critic of
alleged Chinese “influence activities,” has written letters to a number of other Florida
institutions hosting CIs requesting that they also be closed.'' Representatives Michael
McCaul (R-TX) and Henry Cuellar (D-TX) called for the same termination in their own

Section 4

HOUSE_OVERSIGHT_020500
"
IMAGES-007-HOUSE_OVERSIGHT_024449.txt,"EBITDA, Adjusted EBITDA and Adjusted EBITDAR have limitations as analytical tools, and you should
not consider them in isolation, or as a substitute for analysis of our results as reported under GAAP.
Some of these limitations are:

@ they do not reflect our cash expenditures for capital expenditures or contractual commitments;

@ they do not reflect the cost of our non-cash stock-based compensation or our SAR plan or long term
incentive plan or the expense associated with allocating Profits Participation LP Units (as defined
below) to employees;

& they do not reflect changes in, or cash requirements for, our working capital;

M@ they do not reflect the significant interest expense, or the cash requirements necessary to service
interest or principal payments, on our indebtedness:

B they do not reflect management fees;

HB although depreciation and amortization are non-cash charges, the assets being depreciated and
amortized will offen have to be replaced in the future, and our non-GAAP measures do not reflect cash
requirements for such replacements or the related expense;

@ they do not reflect the impact of earnings or charges resulting from the significant costs we have
incurred in integrating KinderCare, and we are likely to incur significant integration costs in future
acquisitions;

@ other companies, including other companies in our industry, may calculate these measures differently
than we do, limiting their usefulness as a comparative measure; and

@ they do not comply with the requirements of Item 10(e) of Regulation S-K or Regulation G of the
Securities and Exchange Commission (“SEC"").

Because of these limitations, EBITDA, Adjusted EBITDA and Adjusted EBITDAR should not be
considered as measures of discretionary cash available to us to invest in the growth of our business or
reduce our indebtedness. We compensate for these limitations by relying on our GAAP results as well as
these non-GAAP measures.

For more information, see our consolidated financial statements and the notes io those statements
included elsewhere in this Memorandum.

FORWARD-LOOKING STATEMENTS

This Memorandum contains forward-looking statements, which involve risks and uncertainties. You can
identify forward-lcoking statements because they contain words such as “anticipates,” “expects,”
""should,"" ‘intends,” “plans,” “believes,” “seeks,” “estimates,” ""will,"" ""may,"" “approximately"" and similar
expressions which concern, among other things, the Company's results of operations, financial condition,
liquidity, prospects, growth, strategies and the industry in which the Company cperates. Examples
include statements regarding anticipated growth in revenue, net income and EBITDA, expectations
regarding the likelihood of recurrence of certain charges and gains, expectations regarding capital
investments, and expectations regarding future cash generated from operations. These forward-looking
statements are based on our management's current expectations, assumptions, estimates and
projections about us and our industry. You are cautioned that actual results could differ from those

16

HOUSE_OVERSIGHT_024449
"
IMAGES-007-HOUSE_OVERSIGHT_023326.txt,"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 atthe 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 andi
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 ‘ve had a rough 15 months.

3. Remind me to talk to you about MR
Date: Mon, Sep 19, 2016 at 8:56 PM
Subject:

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 -""1is 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 alist of things I think would be in your interest to get done asap .but definitely not by me.

isuggest you form new grats. , hire a high level tax partner. use your trading accounts as they remain

HOUSE_OVERSIGHT_023326
"
IMAGES-004-HOUSE_OVERSIGHT_018108.txt,"24

relationships, the course of operations and other factors would place
the United States and Iran at the center of more or less structured
coalitions of the marginally willing.

A Western coalition could consist of the United States and most of its
traditional allies (but very likely not Turkey, based on the evolution
of Turkish politics) in addition to some Persian Gulf states, Jordan
and perhaps Egypt, depending on where its revolution takes it. Much
would depend on whether U.S. leaders could persuade others to go
along, which would mean convincing them that U.S. forces could
shield them from Iranian and Iranian-proxy retaliation, or at least
substantially weaken its effects.

Coalition warfare would present a number of challenges to the U.S.
government. Overall, it would lend legitimacy to the action, but it
would also constrict U.S. freedom of action, perhaps by limiting the
scope and intensity of military operations. There would thus be
tension between the desire for a small coalition of the capable for
operational and security purposes and a broader coalition that would
include marginally useful allies to maximize legitimacy.

The U.S. administration would probably not welcome Israeli
participation. But if Israel were directly attacked by Iran or its allies,
Washington would find it difficult to keep Israel out—as it did during
the 1991 Gulf War. That would complicate the U.S. ability to manage
its coalition, although it would not necessarily break it apart. Iranian
diplomacy and information operations would seek to exploit Israeli
participation to the fullest.

Iran would have its own coalition. Hizballah in particular could act at
Iran’s behest both by attacking Israel directly and by using its
asymmetric and irregular warfare capabilities to expand the conflict
and complicate the maintenance of the U.S. coalition. The escalation
of the Hizballah-Israel conflict could draw in Syria and Hamas;
Hamas in particular could feel compelled to respond to an Iranian

HOUSE_OVERSIGHT_018108
"
IMAGES-008-HOUSE_OVERSIGHT_025074.txt,"2010, witnessed some of the political
discussions that accompanied the project's
creation. ""This could be a huge, iconic
victory for the whole strategy of building
Palestine from the bottom up rather than
trying to build it at the negotiating table,""
he says.

Its success would prove just how much
power Palestinians can, and indeed already
do, have in shaping their future. And its
failure could prove the exact opposite.

I visited Rawabi two weeks ago with a
group of national security professionals, as
part of a trip organized by the Foundation
for Defense of Democracies, a Washington,
DC-based think tank. (All of the photos in
the body of the article are mine.) We were
taken around the construction site by a
young Palestinian engineer who conveyed
the vast ambition underlying the project:
When the city is completed, she said, it will
house 45,000 people in 23 distinct
neighborhoods with innocuous, nature-
based names like ""Flint,"" and ""Hard Rock"".
(Rawabi is Arabic for ""Hills"".) There will
be eight schools -- some of them built with
the help of the U.S. Agency for
International Development -- a ""huge
park,"" a convention center, an 850-seat
indoor theater, and a 20,000-seat
amphitheater carved into a hillside.

Most ambitiously, there will be a
commercial center that developers hope

HOUSE_OVERSIGHT_025074
"
IMAGES-003-HOUSE_OVERSIGHT_014534.txt,"2017 OUTLOOK

Dear Clients,

Readers of our previous Outlook publications may recall that this page typically
summarizes the key themes of our economic and financial market prospects for the
coming year. However, for 2017 we decided that a brief overview would not suffice,
given the current environment of high market valuations, great policy uncertainty,
significant geopolitical tensions and, in all likelihood, an unconventional US
presidency.

Since the trough of the global financial crisis, we have consistently emphasized US
preeminence and maintained a strategic overweight to US equities relative to global
market capitalization-weighted benchmarks. Tactically, we have had an overweight
allocation to US equities and US high yield bonds from as early as mid-2008. Even
when US equities became more expensive, we continued to recommend that clients
stay fully invested at their strategic allocations. Indeed, we have reiterated that
recommendation in our past Outlook publications, client calls and Sunday Night
Insight reports as many as 59 times since January 2010.

But now we have crossed into the 10th decile of valuations: US equities have been
more expensive than current levels only 10% of the time in the post-WWII period.
Yet we continue to recommend staying the course. We are duly aware that this
recommendation is long in the tooth, particularly given such high valuations and the
unusually high level of policy uncertainty.

Policy uncertainty, both economic and political, abounds globally: uncertainty with
respect to Brexit (the how and when), upcoming elections in Germany and France
(the who), transitional government in Italy (the how long followed by what) and new
appointments to the Standing Committee in China and their significance (the who and
what of any reform agenda), to name a few.

We are also facing rising geopolitical tensions that could trigger significant market
volatility. Tensions in the Middle East will not abate. Greater Russian involvement
in that region is stabilizing in some respects and destabilizing in others. Further
Russian incursions into Eastern Europe may elicit a more robust reaction from the
West. Terrorism could spread in the US and Europe as ISIL (Islamic State of Iraq and
the Levant) loses territory in Iraq and Syria and foreign fighters return home. North

Outlook | Investment Strategy Group 1

HOUSE_OVERSIGHT_014534
"
IMAGES-012-HOUSE_OVERSIGHT_032643.txt,"Sent: 11/6/2017 9:07:51 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

this was just tweeted by famous saudi opposition @mujtahidd .. almost 2 million followers ..
#Trump_ MBS scandal involving President @realDonaldTrump and Crown Prince Mohammad bin Salman...

Following @realDonaldTrump's visit to SA, US stance on Saudi affairs changed especially on competition
between MBS & MBN and Qatar siege.

MBS = Saudi Crown Prince Mohammad bin Salman (de facto King)
MBN = Mohammad bin Nayef (deposed Saudi Crown Prince and Interior Minister)

Prior to @realDonaldTrump, US institutions stood firmly with MBN throughout Obama's presidency. This was
reaffirmed in a letter to the King.

After @realDonaldTrump's Riyadh visit, he changed the US stance on the MBS v MBN power struggle and
forced the establishment to back MBS.

Past US administrations were keen on avoiding strife within GCC: This is because American interests cannot be
upheld without a harmonic GCC.

That was until @realDonaldTrump's return from Saudi upon which Qatar siege began and he openly supported
it contradicting Defence&State Dept

That was until @realDonaldTrump's return from Saudi upon which Qatar siege began and he openly supported
it contradicting Defence&State Dept

More bizarrely; MBS has a secure direct line to Trump like no other leader has - not even Israeli Netanyahu &
British May...

The following story explains MBS's 'special' influence over @realDonaldTrump - even if it means
compromising America's national interests...

During @realDonaldTrump's Riyadh visit in May 2017 a private yacht discreetly arrived at Jeddah Port; heavily
guarded and identity hidden.

Even the Port's authorities were not allowed near it. Only a number of individuals reached it - delivering several
boxes of cash ($1bn USD).

After loading the boxes, the yacht disappeared. The operation lasted hours & was kept secret as was yacht's
identity, origin and destination

It transpired from MBS's inner circles that the $1bn was from MBS himself & the yacht belonged indirectly to
@Trump Organisation. #Trump_ MBS

HOUSE_OVERSIGHT_032643
"
IMAGES-009-HOUSE_OVERSIGHT_028119.txt,"the interview would be a journalistic coup. For me, it was a risk. He was a
famously combative questioner, a bit like Sam Donaldson at White House
briefings, or Jeremy Paxman and John Humphreys in Britain.

On the night of July 13, I drove to the television studio in Tel Aviv. Mishal
confronted me with Yedio?’s version of events. I was angry, and showed it.
“This report was not some night editor’s mishap,” I said. “It was authorized by
the highest levels of a mass-circulation newspaper which 1s power-drunk,
corrupted by power, and manipulative. The so-called ‘story’ was an amateurish
and distorted depiction of a chief-of-staff who sees wounded soldiers, turns his
back, deserts them and flies away. That is an evil, vain falsehood.” As Mishal
pressed me about the allegation that I had fled, I cited, by name, other officers
who had been there with me and had confirmed precisely the opposite. I had left
Tze’elim, along with Amnon Lipkin, a full 50 minutes after the missiles struck,
I said. And only after the helicopters had arrived, the injuries had been treated
and the choppers were evacuating the wounded. “A chief of staffs job is not to
treat the wounded, when others are doing that already,” I added. My
responsibility was “to keep my head, and ensure a safe and speedy medical
evacuation.” That was what I’d done. “I’ve given years of my life to serving this
country,” I said. “I have been shot at. I have shot men dead from as close as I
am to you now. How did the hand that wrote these things against me not
tremble?”

It was certainly high drama. But it was not an act. The way that I’d gone
after Yediot prompted some pundits to suggest my skin was too thin. One
commentator even said I was obviously not suited to politics. Yet what mattered
most to me was what the rest of Israel felt: people who were not reporters or
editors, commentators or politicians. Opinion polls the day afterwards showed
that something like 80 percent of Israelis believed what I’d said. I think this was
only partly due to the details of the argument I made. When you’re under such
close, direct scrutiny, I’m sure viewers have an innate sense of whether what
they are hearing is the truth.

Almost as soon as I’d got home from the interview, the phone rang. It was
someone who, of course, already knew it was the truth: Yitzhak Rabin. “Ehud,”
he said, “you did well. Let’s move forward.”

271

HOUSE_OVERSIGHT_028119
"
IMAGES-006-HOUSE_OVERSIGHT_021178.txt,"bottom of the floor as he was saying “You can’t really expect to give a
massage wearing this, here sweetie, I'll help you out of it.” He just
wanted to see the hidden bounty my clothes were hindering his eyes from
seeing. I just went about my way trying to get his hands off of me and to
get him to lie down for a massage. Making quaint conversation with him
was pointless as I was trying to send his thoughts elsewhere other than
the apparent perverted schemes replaying in his mind from the heavy
breathing he was making and the looks he was giving to me. I was using
all of the tricks in the “turn-off” book even asking him about his wife and
kids.

Unquestionably he was in seventh heaven turning every one of my
distractions into another flattering compliment. He was saying things like
“I love what you do you to me, I have never felt like this before, come
stay with me and I will pay you double, no, triple whatever Jeffrey pays
you!” Knowing he was just a drunk idiot, | wasn’t being lured in by any
of his offers of money or a privileged lifestyle, I knew these cages all too
well and I was better off sticking with the one that I was at least
accustomed to already. Holding back any composure now, he was going
extremely wild ravishing at my body trying to tear off my panties like a
hungered wild animal. After all of the champagne I had drunk that night
it gave me the nerve that I needed to know exactly how to handle perverts
like this one, who had been no different from every other shmuck in my
life, and I quickly shut him up with a blowjob lasting no longer than two
terrible minutes. It had only been shy of a half an hour before ] was
already getting quickly get dressed and hurrying out his cottage door.

When I got to Jeffrey’s cottage I rushed through the door and told
Jeffrey and Ghislane, who were sitting front of the fireplace reading a
books, that 1 never ever wanted to see that guy ever again. When they
asked me what was the matter, | told them of every thing that had
happened that night even how he offered me to come work for him
getting paid triple. I established a lot of trust with Jeffrey that night. He
asked me why I didn’t accept the offer and I responded with “ Who
would look after you, if I were gone?” Like a caring grand father would
do, he pulled me into his chest for a hug and told me that it meant a lot to
him. It was so late and I was so tired but I still had to give Jeffrey his
massage that night. He asked me to just rub his feet as he fell asleep, and
thankfully he was out like a light in no time. The next morning I took two
headache tablets and a ginger ale instead of a coffee. Trying to contain
my hangover as best as possible behind a pair of sunnies it was mid
afternoon by the time I had felt like myself again. We spent the day Yacht
hopping, soaking in the sunny weather while Jeffrey and Ghislane caught
up with old acquaintances, Emmy and I were just accessories to look
good on the arms of them. The next day we wrapped up the tail end of

67

U1 Copyright Protected Material
CONFIDENTIAL, GIUFFREO04200

our trip and commenced our flight back into the U.S. 1 was paid a
generous amount and set off to go car shopping as soon as | got back to
Florida. Through a private seller, I was able to pay out right for my car. I
got a Dodge Dakota in cherry red, and immediately had an impressive
sound system put in. She was my first pride and joy and taste of freedom.
I would love to drive her down to Lakeworth Beach to sit in my car and
watch the waves while J listened to my stereo blare music and puffed on a
jay. Letting the rest of the world pass by while I sat back and watched
them walk past wondering to myself what their story was about.

I turned seventeen that summer and had accumulated a string of exotic
destinations that I had travelled in such a short time. I was given more
make-up and a pair of diamond earrings from Jeffrey. Ghislane only
wished me a happy day, wondering at times if she felt threatened by
Jeffrey’s and my closeness. We went to the island after we left N.Y.C and
Lasked If Sarah would be meeting us, mentioning it had been a while
since we had last seen her. He said he had some bad news about her.
Expecting the worse, thinking she had gotten hurt or something, I was
astounded when Jeffrey told me that she had been sent to his island with
one of his friends for a couple days and when the housekeepers were
cleaning her room and they found a stash of cocaine left out carelessly in
the bathroom.

He said he had no choice but to let her go. Addicts with no respect for
themselves or his wishes had no leeway in Jeffrey’s book. He didn’t mind
that I dabbled in drugs once in a while as long as | never brought them
along with us on any trips, except for my Xanax, which he didn’t mind
because it was pharmaceutical and most of all wouldn’t cause him trouble
being a legal narcotic. Sarah took it too far when she crossed international
borders with an illegal drug, risking her welfare and almost costing
Jeffrey public attention. She lost her apartment and contacts in the acting
world, only hearing from acquaintances once in a while that she was
sinking deeper and deeper into the black hole of addiction. It was sad to
find out, as I always did like her.

At the island, Ghislane had just recently obtained her helicopter pilot’s
license and wanted to get some practice airtime and flew Jeffrey and I to
St. John where we picked up Alexandria Cousteau, the grand daughter to
the inventor of the scuba tank and underwater explorer Jack Cousteau.
Ghislane was out to set us affright in the air, but it was all talk, she was
actually an impressive pilot. Still a daredevil though, she got her kicks
out of hearing us fret on the earmuffs intercom’s. Jeffrey made it clear
that Alexandria was a guest when I was told to adhere to her if she
wanted a massage, which I obliged her with several times during our first
meeting. It was Jeffrey who instigated that her and I reenact as lovers in
lesbian acts of foreplay and penetration. I couldn’t imagine a girl with

68

C) Copyright Protected Material

GIUFFRED0420L

HOUSE_OVERSIGHT_021178
"
IMAGES-006-HOUSE_OVERSIGHT_022471.txt,"a

theatlantic.com / Olga Khazan Evolution might have played a trick
on women’s immune systems. About 65 million years ago, shortly after

the time of the dinosaurs, a new critter popped...

The CBD boom in 15 charts

HOUSE_OVERSIGHT_022471
"
IMAGES-002-HOUSE_OVERSIGHT_013612.txt,"(2x6x4)(2x6x4-6-4)
(6+4) x(6+4-1)

E(r)—Obs(r) _ 5.8—6,0
\Var(E(r) V2.03

the standard run score of the binary series is less than zero and therefore more

and tails minus one. That is, Var(E(r)) = = 2.03. From these

=-0.140. We conclude that

three terms, we compute srs =

random than the expected random behavior of a fair coin.

Recall from the last chapter that Karen Selz, Martin Paulus and others have
shown that various personality types and psychiatric diagnoses are associated with
characteristic deviations of srs from zero. When the winners of the 2002 Annual
World Rock, Paper Scissors Championships held in Montreal Canada were
interviewed, they said that sensing their opponent’s characteristic style of deviations
from randomness in what we would call the continuum from maximal to minimal
entropy determined their successes. We characteristically use all of these measures
to estimate quantitate the deviation from randomness standard run score, Srs,
algorithmic complexity, AC, as well as H; and Hy,, the topological and metric
entropies.

The encounter with mystical Absolute Reality, though sought by arduous
contemplative and other practice, emerges spontaneously, most often during times
of apparent mental emptiness, detachment, a state in which rationally instructive
thought and the choral background of brain voiced, emotion-ladened, commentary
have disappeared into the entropic soup of formless silence. It is this indescribable,
ineffable, stillness that we think serves as the psychophysiological anlage of
mystical experience. The mathematical systems yielding quantitative metaphors,
descriptive ideas about dynamical entropic statistical emptiness and form inspire the
use of mathematical structures in place of localized lumps in brain meat as
personalized icons of doing.

Our wedding of well-defined mathematical objects to metaphoric elements of

more general nonverbal intuition has a long tradition. Rene Thom’s 1990 book,

112

HOUSE_OVERSIGHT_013612
"
TEXT-001-HOUSE_OVERSIGHT_021729.txt,"From: J [jeeyacation@gmail.com] 
Sent: 3/14/2019 4:48:11 PM 
To: Martin Weinberg Darren Indyke 
Jack Goldberger 
Subject: Fwd: Epstein prosecutor was rebuked for prior child sex case I Miami Herald 
Attachments: Sp_Marie_Villafana2.jpg; WilliamZloch.jpeg; acosta.jpg 
Privileged - Redacted 
----------Forwarded message---------  
From: Darren Indyke < 
Date: Thu, Mar 14, 2019 at 12:30 PM 
Subject: Epstein prosecutor was rebuked for prior child sex case 1Miami Herald 
To: jeevacation@gmail.com <jeevacation@gmail.com> 
Cc: Darren Indyke 
https://www.miamiherald.cominews/politics-government/article226765309.html 
Kathy Ruemmler 
Jeffrey Epstein prosecutor was 
previously rebuked for handling of a 
child sex case 
Julie K. Brown 
Nine months before cutting a covert plea deal with sex trafficking suspect Jeffrey 
Epstein, Miami U.S. Attorney Alexander Acosta was notified that the lead 
prosecutor in Epstein's case had concealed victim information in another underage 
sex crimes case, the Miami Herald has learned. 
The prosecutor, A. Marie Villafaria, was harshly rebuked by a federal judge in 
January 2007 for what he called her ""intentional and/or serious lapse in judgment"" 
when she failed to explicitly inform him that the defendant, a Texas man who 
traveled to Florida to have sex with a 14-year-old girl, had a prior history of 
predatory behavior with minors, court records show. 
Acosta, her boss at the time, not only knew about Villafaria's breach — records show 
that he subsequently defended it. Acosta assigned another prosecutor in his office to 
write a treatise for the judge in an unsuccessful attempt to persuade him to soften 
the stinging language in his order. 
HOUSE OVERSIGHT 021729 
Senior U.S. District Court Judge William J. Zloch copied Acosta on his order, 
noting, ""The court is at a total loss as to why the Office of the United States Attorney 
for the Southern District of Florida, as well as the Assistant United States Attorney 
assigned to the above-styled cause, found it appropriate to intentionally withhold ... 
information from the court."" 
HOUSE OVERSIGHT 021730 
HOUSE OVERSIGHT 021731 
A. Marie Villafaria was the lead federal prosecutor in the Jeffrey Epstein sex case. The U.S. attorney's office's handling of 
the prosecution, which led to a plea to minor charges in state court, has been harshly criticized. 
Later that year, Acosta and Villafaria put together a plea bargain for Epstein, a 
multimillionaire money manager who sexually abused nearly three dozen teenage 
girls at his mansion in Palm Beach. The deal, a federal judge ruled last month, was 
intentionally kept from his victims in violation of the Crime Victims' Rights Act. 
While the two cases are unrelated, it shows that both Acosta and Villafaria had been 
warned about the importance of victim disclosure in sex crimes cases before the 
Epstein agreement. They nevertheless forged ahead with a pact with Epstein that 
violated the law. 
U.S. District Court Judge Kenneth A. Marra wrote: ""When the Government gives 
information to victims, it cannot be misleading. While the Government spent untold 
hours negotiating the terms and implications of the [agreement] with Epstein's 
attorneys, scant information was shared with victims."" 
This comes as Acosta, who is now the U.S. secretary of labor, is facing mounting 
scrutiny for his oversight of the Epstein case. On Monday, White House press 
secretary Sarah Huckabee Sanders declined to say whether President Trump has full 
confidence in Acosta, noting that Acosta's involvement in the Epstein case is 
GG 
currently under review."" 
The Justice Department launched a probe in January into whether Acosta, Villafaria 
and other prosecutors committed professional misconduct. 
Francey Hakes, who worked in the Justice Department's Crimes Against Children 
unit, said Zloch's comments were so brutal that it should have deterred Acosta and 
Villafaria from keeping the deal secret. 
""It is highly unusual for a court to allege an assistant U.S. attorney has intentionally 
withheld information. That allegation is like dropping a bomb in the legal 
community,"" she said. 
The story behind a Palm Beach sex offender's remarkable deal 
Palm Beach multimillionaire Jeffrey Epstein is a free man, despite sexually abusing 
dozens of underage girls according to police and prosecutors. His victims have never 
had a voice, until now. 
""It seems to show that they are not taking these cases very seriously, they are not 
advocating for strong punishment for sexual predators, and not advocating for 
victims in a meaningful way."" 
Villafaria, a well-regarded 18-year veteran federal prosecutor, would not comment 
for this story. But her lawyer, Jonathan Biran, said she has worked tirelessly on 
HOUSE OVERSIGHT 021732 
behalf of crime victims. She received the 2011 National Crime Victims' Rights 
Service Award as well as the Attorney General's Project Safe Childhood Award. 
He also pointed out that the parents of the victim in the Texas man's case wrote a 
letter thanking Villafaria at the conclusion of the case. 
""AUSA Villafaria has spent her 18-year career advocating tirelessly on behalf of 
victims of some of the most serious crimes in Florida, and has received numerous 
awards for her successful prosecution of major cases,"" Biran said, adding that 
Villafaria has ""made South Florida a safer place for children and adults alike."" 
Enticing a minor 
By all accounts, Adam McDaniel was an awkward and shy Texas teenager who spent 
countless hours on his computer, socializing with girls on the internet. 
In 2005, McDaniel, then 19, traveled from Texas to Fort Lauderdale, where he 
hopped into a taxi and headed to Boca Raton to meet up with a 14-year-old girl he 
had been talking to online for about a year. He picked up the ninth grader at a high 
school basketball game, and drove her to a Marriott, hotel where they spent the 
night, court records show. 
When she failed to come home that evening, her parents called Boca Raton police. 
Officers tracked the pair down at the hotel the next day, where they found them in 
bed, clad in little more than their underwear, according to court records. 
McDaniel was arrested on federal sex charges, and pleaded guilty on Oct. 6, 2006, to 
enticing a minor into sexual conduct by means of interstate commerce, which 
carried a sentence of from five years up to 30 years in federal prison. 
HOUSE OVERSIGHT 021733 
U.S. District Judge William Zloch 
At sentencing, McDaniel's public defender, Patrick Hunt, argued for a reduced 
sentence, blaming his client's immaturity for the crime. McDaniel had been a good 
student at Texas Tech and had a family that supported him, Hunt told Zloch. 
HOUSE OVERSIGHT 021734 
Family and acquaintances, including a former Fort Worth police lieutenant, 
submitted letters to the court vouching for McDaniel's character. 
There were other issues, however, presented to the judge. While McDaniel was 
being held in federal lockup awaiting sentencing, he had corresponded with his 
victim, despite being ordered not to contact her, the court record shows. 
Still, Hunt argued that a sentence of five years was overly harsh. 
Villafaria disagreed, but conceded that McDaniel would benefit from psychological 
treatment. She advocated for a sentence of five to sex years, which was at the low 
end of the guideline. 
It was then that the judge heard from the victim's mother. 
In a statement, the mother decried the emotional and mental trauma her daughter 
suffered and the long road to recovery she had ahead of her. The mother mentioned 
she was further upset that McDaniel continued contact with her daughter after his 
arrest and she said she believed that McDaniel was still trying to manipulate her 
daughter by blaming her for his arrest. 
The mother pointed out that prior to their sexual encounter, McDaniel had directed 
her daughter to watch sexually explicit movies and had described for her sex 
activities he had had with another underage girl. 
At that point, the judge interrupted. 
""...There has been some reference to another incident with a minor girl. What do 
you know about that, if anything?"" Zloch asked Villafaria. 
HOUSE OVERSIGHT 021735 
Former U.S. Attorney Alex Acosta never told sexual-abuse victims of a lenient plea 
deal for Jeffrey Epstein. 
Getty Images 
Only then did Zloch learn that McDaniel had preyed on other girls over the internet, 
including a 16-year-old California girl whom he brought to Texas and impregnated. 
He was also having another relationship with a 15-year-old girl at the time of his 
arrest, Villafaria admitted in court. 
The judge promptly sentenced McDaniel to 10 years — twice what Villafaria 
recommended. 
Three months later, in January 2007, after reviewing the entire case, Zloch issued 
an order excoriating Villafaria for failing to tell him about McDaniel's prior history. 
""The serial nature of defendant's seduction of minor girls was revealed for the first 
time to the court upon the Government's response to the Court's inquiry,"" Zloch 
wrote, explaining that the defendant's past was evidence of predatory behavior that 
warranted a harsher sentence because he may pose a danger to the community. 
Assistant U.S. Attorney Andrew Lourie was assigned to try to correct the record and 
persuade the judge to strike a portion of his comments. They argued that since 
McDaniel had never before been charged with a crime, the history was not relevant 
HOUSE OVERSIGHT 021736 
at sentencing. The defendant's prior relationship with a 16-year-old was not illegal 
in Texas or in California, they said, and the girl classified her relationship as a 
friendship. 
All the relevant information was provided to the probation department and at 
McDaniel's detention hearing, they added, making the point that it was in the record 
and therefore, not intentionally withheld by the government. 
While Zloch conceded that the information was part of the probation and bond 
hearing record, he said it was nevertheless the U.S. Attorney's Office's duty to 
present the defendant's prior history with minors at sentencing. He refused to strike 
the most critical portions of his order. 
""Lack of candor to the court is a serious charge, and the judge has quite reasonably 
expressed dismay that the assistant U.S. attorney apparently intended that he never 
be given a full picture of the defendant's conduct,"" Hakes said. 
But nine months later, in September 2007, Villafaria was in the throes of thorny 
negotiations with Epstein's lawyers. While an FBI investigation was ongoing, 
Villafaria discussed ways to quietly resolve the case, emails show. 
A Miami Herald investigation, -Perversion of Justice,"" published in November, 
revealed how federal prosecutors, including Acosta and Villafaria, tried to keep the 
full scope of Epstein's crimes out of the public eye. At one point, they discussed 
charging Epstein in Miami, instead of Palm Beach where the crimes happened, 
noting there would be less media coverage. 
Emails also show that prosecutors repeatedly abided by Epstein's lawyers' demands 
that his victims not be told that an agreement had been reached until after he was 
sentenced. That meant that the girls could not appear at the hearing to derail the 
deal. Prosecutors had drafted a 53-page federal indictment on sex trafficking 
charges, but Acosta instead allowed Epstein to plead guilty to two prostitution 
charges in state court. In exchange, Epstein and his co-conspirators were given 
federal immunity. 
Villafaria wrote Epstein's lawyer, Jay Lefkowitz, to discuss the wording of the 
sentencing agreement for the judge: 
""I will include all our standard language regarding resolving all criminal liability and 
I will mention co-conspirators, but I would prefer not to highlight for the judge all of 
the other crimes and all the other persons we could charge,"" Villafaria wrote. 
At Epstein's sentencing, assistant Palm Beach prosecutor Lanna Belohlavek was 
questioned by the judge about whether all of Epstein's victims were told about the 
deal, as required by law. 
HOUSE OVERSIGHT 021737 
""Are there more than one victim?"" Circuit Court Judge Deborah Dale Pucillo asked 
Belohlavek at the June 30, 2008 sentencing. 
""There's several,"" Belohlavek replied. 
""Are all the victims in both these cases in agreement with the terms of the plea?"" the 
judge asked. 
""Yes,"" Belohlavek said. 
Coincidentally, the lawyer representing one of the victims was in the courtroom that 
day. He told the Herald that neither he, nor his client, was told about the agreement. 
Acosta has not responded to the Herald's repeated requests for comment. A 
spokesman at the Labor Department told the Washington Post last month: ""The 
office's decisions were approved by departmental leadership and followed 
departmental procedures."" 
In the past, Acosta has said that he believed the deal was the best chance 
prosecutors had of ensuring that Epstein spent some time behind bars and was 
required to register as a sex offender. Epstein served 13 months in the Palm Beach 
County jail — but he was allowed to leave for up to 12 hours a day as part of a work 
release program not normally offered to convicted sex offenders. 
Epstein's victims, now in their late 20S and 30s, are fighting to have his deal 
overturned and Epstein sent to prison. 
Bradley Edwards, who represents several of Epstein's victims, defended Villafaria, 
saying he believed that she was directed to settle the case and not inform Epstein's 
victims about the deal. 
""In my conversations with her, I came to believe that she was in a difficult position. 
She never came out and said this, but I suspected that someone above her directed 
her to do what she did,"" Edwards said. 
DARREN K. INDYKE 
5300 W. Atlantic Avenue, Suite 602 
Delray Beach, Florida 33484 
Telephone: 
Teleco ier: 
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. Unauthorized use, disclosure or copying of this communication 
or any part 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 - @ 2019 Darren K. Indyke — All rights reserved. 
******************************************************************************************************* 
HOUSE OVERSIGHT 021738 
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 021739 
"
IMAGES-005-HOUSE_OVERSIGHT_019887.txt,"With a sideways look, Ailes continued to stare him down, as though waiting for
Bannon to show more of his cards.

“Really,” Bannon said. “He’s on the program. It’s his program.” Pivoting from Trump
himself, Bannon plunged on with the Trump agenda. “Day one we’re moving the U.S.
embassy to Jerusalem. Netanyahu’s all in. Sheldon’—Sheldon Adelson, the casino
billionaire, far-right Israel defender, and Trump supporter—‘‘is all in. We know where
we're heading on this.”

“Does Donald know?” asked a skeptical Ailes.
Bannon smiled—as though almost with a wink—and continued:

“Let Jordan take the West Bank, let Egypt take Gaza. Let them deal with it. Or sink
trying. The Saudis are on the brink, Egyptians are on the brink, all scared to death of
Persia ... Yemen, Sinai, Libya ... this thing is bad... . That’s why Russia is so key... . Is
Russia that bad? They’re bad guys. But the world is full of bad guys.”

Bannon offered all this with something like ebullience—a man remaking the world.

“But it’s good to know the bad guys are the bad guys,” said Ailes, pushing Bannon.
“Donald may not know.”

The real enemy, said an on-point Bannon, careful not to defend Trump too much or to
dis him at all, was China. China was the first front in a new cold war. And it had all been
misunderstood in the Obama years—what we thought we understood we didn’t understand
at all. That was the failure of American intelligence. “I think Comey is a third-rate guy. I
think Brennan is a second-rate guy,” Bannon said, dismissing the FBI director and the CIA
director.

“The White House right now is like Johnson’s White House in 1968. Susan Rice”—
Obama’s National Security Advisor—“is running the campaign against ISIS as a National
Security Advisor. They’re picking the targets, she’s picking the drone strikes. I mean,
they’re running the war with just as much effectiveness as Johnson in sixty-eight. The
Pentagon is totally disengaged from the whole thing. Intel services are disengaged from
the whole thing. The media has let Obama off the hook. Take the ideology away from it,
this is complete amateur hour. I don’t know what Obama does. Nobody on Capitol Hill
knows him, no business guys know him—what has he accomplished, what does he do?”

“Where’s Donald on this?” asked Ailes, now with the clear implication that Bannon
was far out ahead of his benefactor.

“He’s totally on board.”
“Focused?”
“He buys it.”

“T wouldn’t give Donald too much to think about,” said an amused Ailes.

HOUSE_OVERSIGHT_019887
"
TEXT-002-HOUSE_OVERSIGHT_033195.txt,"From: Richard Kahn 
Sent: 11/18/2016 8:37:36 PM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Trump University agrees to settle lawsuit for $25 million: 
Importance: High 
http://www.cnbc.com/2016/11/18/president-elect-donald-trump-nearing-settlement-in-trump-university-case-
source.html 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033195 
"
TEXT-001-HOUSE_OVERSIGHT_030624.txt,"From: Tonja Haddad Coleman_____________________________ 
Sent: 10/18/2013 10:38:16 PM 
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 Virginia Roberts 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 Roberts 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 
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: 
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 
HOUSE OVERSIGHT 030624 
(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 030625 
"
IMAGES-003-HOUSE_OVERSIGHT_016323.txt,"Chris Anderson’s company, 3DR, helped start the modern drone industry and now
focuses on drone data software. He got his start building an open-source aerial robotics
community called DIY Drones, and undertook some ill-advised early experiments, such
as buzzing Lawrence Berkeley Laboratory with one of his self-flying spies. It

may well have been a case of antic gene-expression, since he’s descended from a founder
of the American Anarchist movement. Chris ran Wired magazine, a go-to publication for
techno-utopians and -dystopians alike, from 2001 to 2012; during his tenure it won five
National Magazine Awards.

Chris dislikes the term “roboticist” (“like any properly humbled roboticist, I
don’t call myself one”). He began as a physicist. “I turned out to be a bad physicist,” he
told me recently. “T struggled on, went to Los Alamos, and thought, ‘Well maybe I’m not
going to be a Nobel Prize winner, but I can still be a scientist.’ All of us who were in
Physics and had these romantic heroes—the Feynmans, the Manhattan Project—realized
that our career trajectory would at best be working on one project at CERN for fifteen
years. That project would either be a failure, in which case there would be no paper, or
it would be a success, in which case you'd be author #300 on the paper and become an
assistant professor at Iowa State.

“Most of my classmates went to Wall Street to become quants, and to them we
owe the subprime mortgage. Others went on to start the Internet. First, we built the
Internet by connecting physics labs; second, we built the Web; third, we were the first to
do Big Data. We had supercomputers—Crays—which were half the power of your phone
now, but they were the supercomputers of the time. Meanwhile, we were reading this
magazine called Wired, which came out in 1993, and we realized that this tool we
scientists use could have applications for everybody. The Internet wasn’t just about
scientific data, it was a mind-blowing cultural revolution. So when Conde Nast asked me
to take over the magazine, I was like, ‘Absolutely!’ This magazine changed my life.”

He had five children by that time—video-game players—who got him into the
“flving robots.” He quit his day job at Wired. The rest is Silicon Valley history.

103

HOUSE_OVERSIGHT_016323
"
TEXT-001-HOUSE_OVERSIGHT_020437.txt,"From: Richard Kahn [ ii 
Sent: 4/27/2018 8:25:30 PM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Will Cohen Cooperate? Tenuous Finances May Provide Crucial Clues 
Importance: High 
shockingly it appears he has some money in real estate deals_ 
Will Cohen Cooperate? Tenuous Finances May Provide Crucial Clues 
2018-04-27 08:00:00.2 GMT 
By Shahien Nasiripour and Caleb Melby 
(Bloomberg) -- In the two weeks since federal agents seized 
the files of Michael Cohen, President Donald Trump's personal 
attorney and fixer, a question has hovered: Will Cohen cooperate 
with investigators? 
His decision could depend in part on whether he can readily 
shoulder the enormous legal fees required to fight a federal 
probe of this magnitude. 
At first blush, Cohen looks like a pretty rich man. He 
drives a white Rolls Royce, sports a $50,000 watch and owns a 
fair amount of Manhattan real estate. 
But just as his loyalty to Trump is coming under scrutiny, 
a more tenuous financial picture is emerging. A taxi business he 
and his wife built is deeply in debt and losing money daily, his 
commercial real estate is throwing off only modest income, and 
his legal and consulting work is on hold while he remains under 
investigation. 
Cohen declined repeated requests to comment. 
The owners of 32 New York City taxi licenses -- known as 
medallions -- he and his wife, Laura, took out at least 16 loans 
based on their once-soaring value, liens show. With the rise of 
Uber and Lyft, the price of a medallion has fallen from more 
than $1 million to around $163,000 in the past four years. 
Income from the taxi business has plummeted, and millions of 
dollars of the Cohens' loans went under water. Their bank said 
in a November public filing that it had loans out to three taxi 
borrowers, and all were at high risk of default. 
Suspended Medallions 
Unpaid taxes and fines have piled up at the Cohen taxi 
companies, triggering a suspension of about half of the 
medallions, city records show, squeezing cash flow. 
Whatever monthly income the cabs once produced almost 
certainly fell well short of the debt payments owed to Sterling 
National Bank, their Montebello, New York-based lender. Sterling 
has foreclosed on operators in similar situations and sued them 
but appears to be taking a less-confrontational approach with 
the Cohens. On Tuesday, the bank agreed to new loans for their 
companies and to Cohen personally, public filings show. Sterling 
declined to comment. 
The taxi business isn't the only part of Cohen's empire 
that's suffering. The law firm Squire Patton Boggs said it ended 
its ""strategic alliance"" with Cohen after law enforcement raided 
his offices, and the rest of his legal work could decline for 
the same reason. Cohen, 51, makes others' ugly problems 
disappear, a practice that was previously lucrative. Essential 
Consultants LLC, a company affiliated with Cohen, was paid 
$250,000 after he negotiated a $1.6 million payment to a former 
Playboy model on behalf of Republican National Committee 
official Elliott Broidy, according to a Wall Street Journal 
report. 
HOUSE OVERSIGHT 020437 
Sean Hannity 
Cohen has said in court that he had only three legal 
clients during the past year: Broidy, Trump and talk-show host 
Sean Hannity. He gave seven others ""strategic advice and 
business consulting."" 
Last month Cohen said he borrowed from his home-equity 
credit line to make a $130,000 payment in October 2016 to Stormy 
Daniels, an adult-film star who says she had sex with Trump. 
In a Thursday morning appearance on ""Fox & Friends,"" Trump 
distanced himself from Cohen, saying he did only ""a tiny, tiny 
little fraction"" of Trump's legal work, but it included 
representation ""on this crazy Stormy Daniels deal."" 
Russian Interference 
Cohen is under investigation for bank fraud and violating 
campaign-finance law. But his decade at Trump's side as his 
lawyer and enforcer could yield information he might trade to 
investigators looking into the Trump campaign and Russia's 
interference in the U.S. election. 
Still, if he chooses to defend himself, Cohen does have 
assets. Companies he signs for own two investment properties 
purchased in 2015. The larger one, with 92 units on New York's 
Upper East Side, is 38 percent owned by Cohen's companies. The 
businesses also appear to be the sole owner of a downtown 
building with 20 units. 
Together they likely generate less than $1 million in 
annual net income for Cohen's companies after accounting for 
partner interests, expenses and financing costs, data compiled 
by Bloomberg show. Debt against the buildings is low, meaning 
that Cohen could tap them for cash. Last October, the Cohens 
sold a unit at Trump World Tower, near the United Nations, for 
$3.3 million. 
Cohen has been a savvy property investor. He previously 
owned four buildings in need of repairs in Lower Manhattan, 
rehabilitated them and sold them for $32 million in 2014, more 
than doubling his initial investment. 
'Cautious, Methodical' 
Richard Guarino, a partner at Friedman-Roth Realty, has 
worked with Cohen on a handful of deals, including the purchase 
of his Upper East Side building. As a real estate investor, 
Cohen is ""cautious, methodical, smart and, I think, 
conservative,"" Guarino says. 
Cohen's current business partners are a family of New York 
real estate lawyers headed by Herbert Chaves. The family, having 
just sold a plot of Brooklyn land to a partnership including the 
family company of Jared Kushner, were looking to reinvest their 
gains when they bought Cohen's Lower Manhattan buildings in 
2014. Months later, they partnered with Cohen to buy the Upper 
East Side property, 330 East 63rd Street. Guarino, a broker on 
the deal, says he dealt only with Cohen, who served as a 
representative for the investor group even though the Chaves 
family companies hold the majority stake. 
Purchased for $58 million, the squat, brown-brick seven-
story building has only a $17 million mortgage, meaning Cohen's 
share has at least $15 million of equity he could borrow against 
if his partners allowed him to do so. Another property at 133 
Avenue D, not previously reported to be owned by Cohen, has at 
least $5 million of equity not tapped by a mortgage. But more 
debt means more risk and could hurt Cohen later if the taxi 
business doesn't turn around to help cover higher interest 
payments. 
HOUSE OVERSIGHT 020438 
Park Avenue 
One property that may prove harder to extract cash from: 
Cohen's palatial Park Avenue home. Purchased for $5 million in 
2005, the sprawling 10th-floor unit used to be three separate 
apartments and has four bedrooms. It could be worth $8 million 
or more, based on comparable sales. 
In late 2015, the Cohens moved the property into a type of 
trust designed to limit tax exposure when transferring property 
to heirs. The trust structure has tax consequences for typical 
mortgages, but those could be dodged if the Cohens took out an 
interest-only loan. 
In February 2016, Laura Cohen, in her role as a trustee of 
the new entity, did just that, taking out a revolving $500,000 
home-equity line of credit against the property from First 
Republic Bank. It was the first time the family had borrowed 
against the property since a loan of more than $2 million 11 
years earlier when they bought it, property records show. 
There are also Cohen's in-laws, who may pitch in to a 
legal-defense effort. Fima and Ania Shusterman, who haven't 
responded to requests for comment, emigrated from Ukraine and 
built their own taxi empire over decades while helping Cohen 
expand his across New York and Chicago. They own three units in 
Trump World Tower. In an indication of their willingness to help 
those close to them, the couple have lent $20 million to another 
Ukranian couple in the taxi business, Semyon and Yasya Shtayner 
and their companies. 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
tel 
fax 
cell 
HOUSE OVERSIGHT 020439 
"
IMAGES-005-HOUSE_OVERSIGHT_018541.txt,"more receptive to sexual energy. It's not that BDSM is exactly a sexual turn-on in itself;
sometimes it is, but that's actually surprisingly rare. Yet BDSM often... gets my blood
flowing?... and seems to ""open the floodgates,” so sexual hormones can storm through
my body.

And just in case this wasn't complex enough for you... on the other hand, I've had BDSM
encounters where my partner tried to take it sexual, and I wasn't interested. It's almost
like there's a BDSM cycle that I often get into, and once the cycle is sufficiently
advanced, I can't easily shift out of it.

Sometimes, when I'm near the ""peak"" of the BDSM cycle, then being interrupted for any
reason -- sex, or anything else -- is absolutely horrible. I'd rather be left on the edge of
orgasm, burning with sexual desire, than be hurt until I almost cry. The emotion becomes
a stubborn lump in my throat; becomes balled up in my chest. At times like that, it almost
feels hard to breathe.

A while back, a reporter named Mac McClelland who worked in Haiti made a splash by
writing an article about how she used ""violent sex"" to ease her Post-Traumatic Stress
Disorder. I briefly reported on the article for Feministe, but at the time, I didn't share
many of my thoughts about what she wrote. One thing I did say was that the reporter
didn't use any BDSM terminology -- at least not that I spotted. She didn't seem to
conceptualize her desire for ""violent sex"" as a BDSM thing at all. Interestingly, a
Feministe commenter named Jadey, who has experience with kink, also didn't
conceptualize the reporter's article that way. Jadey wrote:

I don't think she's bad or wrong, and I don't think her method of coping with her PTSD is
bad or wrong.... [Yet] I've got a kink/BDSM background, but that's not what she's
describing here. She's talking about something far different, and I can't understand the
experience she describes with Isaac. It is... incomprehensible.

I want to stress here that I, Clarisse Thorn, have never been diagnosed with Post-
Traumatic Stress Disorder. (And I've undergone plenty of analysis, so I'm sure that if I
had PTSD, someone would have noticed by now.) And just in case it needs to be said
again, I'll also stress that I have no intention of telling anyone else how to define their
own experiences. And just in case it needs to be said again, there is a big difference
between consenting BDSM and abuse.

But unlike Jadey, when I read the original ""violent sex"" article, the reporter's description
of her encounter sounded a lot like some of my preferences... indeed, it sounded like
some of the BDSM encounters I've had. For example, the reporter writes:

""Okay,"" my partner said. ""I love you, okay?"" I said, I know, okay. And with that he was
on me, forcing my arms to my sides, then pinning them over my head, sliding a hand up
under my shirt when I couldn't stop him. The control I'd lost made my torso scream with
anxiety; I cried out desperately as I kicked myself free.... When I got out from under him
and started to scramble away, he simply caught me by a leg or an upper arm or my hair
and dragged me back. By the time he pinned me by my neck with one forearm so I was
forced to use both hands to free up space between his elbow and my windpipe, I'd largely
exhausted myself.

HOUSE_OVERSIGHT_018541
"
IMAGES-007-HOUSE_OVERSIGHT_024461.txt,"LLC, a Delaware limited liability company (¢""KUE LLC”)
through conversion of its preferred limited partner units,
including accrued dividends at the option of KUE LLC, into
Common LP Units} is U.S. $280.0 million. Subscriptions
received will be promptly refunded if 280,000 Common LP
Units are not issued for $1,000 per unit {in cash or preferred
limited partner units) before the end of the Offering Period.
Subscriptions paid in any closing will not otherwise be
returned regardless of the size or occurrence of any
subsequent closing.

Investors admitted during the Offering Period after the first
closing of this offering and after September 30, 2006 will pay
an additional amount accruing at a rate of 0.67% per month
calculated from the first closing date of the offering (pro-
rated for partial periods) for each Common LP Unit
purchased, which will be distributed promptly to the holders
of Common LP Units outstanding prior to such admission in
proportion to the number of Common LP Units held by such
holders.

Use of Proceeds: The proceeds of the offering described herein will be used:
(i) to expand operations, including through — strategic
acquisitions in the U.S. and internationally, (i) to develop
new products and services, (iii) to repay, in whole or in part,
$150 million of existing debt plus accrued interest (including
through the application of a portion of the proceeds of the
initial closing of the offering}, (iv) an estimated $50 million in
fees and expenses (including amounts payable from July 1,
2006 under a Fixed Overhead Payment Agreement (the
“Fixed Overhead Payment Agreement’)), {v) in the discretion
of KUE LLC, payment at the initial closing of the offering of
approximately $7.0 million of accrued preferred return on the
preferred limited partner units of KUE being converted to
Common LP Units if such accrued preferred return is not
converted to Common LP Units and (vi) for other corporate
purposes.

Capital Structure: Assuming that 1,000,000 Units are sold to Investors by
March 31, 2007, and that the accrued dividends on the
preferred limited partner units are paid in cash,
approximately 2,530,000 Units will be outstanding. The
investors will own approximately 40% of KUE in the form of
Common LP Units (excluding profits participation limited
partner units of KUE, “Profits Participation LP Units"") and
approximately 40% of the General Partner in the form of
Class A Shares.

The General Pariner will be the sole general partner of KUE
and will hold approximately 1,000 General Partner Units
(“GP Units"") in KUE, representing approximately 0.04%
ownership in KUE.

The economic interest in KUE represented by the Common

28

HOUSE_OVERSIGHT_024461
"
TEXT-002-HOUSE_OVERSIGHT_031972.txt,"﻿nr 
York. noncompliance with ederal immi- Sacramenw, 
romento and Vi _ 
iVart Yee from New onstrate that it 
f 
Thomas Fuller +-- 
reported _ 
Suit Against California 
Relies on a Court Case 
Won by Obama in 2012 
tr. sac 
..Sre•pfzera shacleee, a law profes-
ses-et the Chzieersity of Tetras, said 
history was repeating itself, but 
backward. 
""The suit is modeled on the 
Marna administration's success-
ful suit against Arizona,"" he said. 
But he added that ""some of the 
key considerations are flipped."" 
In the Arizona case, conserva-
tives insisted that respect for state 
sovereignty required letting 
states play a leading role in con-
trolling immigration within their 
borders. But Mr. Sessions, a long-
time conservative himself, disa-
vowed that position in his speech 
on Wednesday. ""Immigration law 
is the province of the federal gov-
ernment,"" he said. 
Justice Antonin Scalia, the con-
servative jurist who died in 2016, 
took a different view of the Ari-
zona case. In an impassioned par-
tial dissent, he wrote that ""it is 
easy to lose sight of the states' tra-
ditional role in regulating immi-
gration — and to overlook their 
sovereign prerogative to do so."" 
There is no doubt that the Cali-
fornia lawsuit is at odds with some 
of the Trump administration's 
usual positions. ""It's a fascinating 
suit on a number of levels,"" Profes-
sor Vladeck said, ""not the least of 
aznalosous contexts, 
Cristina nearigoes, a law pro-
at 'Yale said she detected 
political parallels between the two 
suits. 
""Both administrations claim 
that the state laws they challenge 
impermissibly interfere with the 
executive branch's ability to en-
force the immigration laws,"" she 
said. ""But both lawsuits are also 
clearly designed to take on visible 
and politically powerful local offi-
cials whose vision of immigration 
policy conflicts with the presi-
dent's and his supporters'."" 
In a news conference on 
Wednesday, Xavier Becerra, the 
California attorney general, said 
he was ready for the fight. The 
state's laws, he said, were ""fully 
constitutional and provide for the 
safety and welfare of all our peo-
ple."" 
""California is in the business of 
public safety,"" he said. ""We are not 
in the business of deportations?' 
The Justice Department chal-
lenged parts of three of Califor-
nia's so-called sanctuary laws. 
One restricts employers from co-
operating with immigration offi-
cials. A second generally prohibits 
state officials from telling federal 
ones when undocumented immi-
grants are to be released from 
NOAH BERGER/AGENGE FRANGE.PRESSE — GETTY IMAGES 
Protesting a speech delivered by Attorney General Jeff Sessions in Sacramento on Wednesday. 
The state may not 
pursue policies that 
undermine federal 
law,' a justice wrote. 
the commandeering issue was a 
substantial one. ""To the ?xtenttlie-,_ 
Trump administration s claims 
against California would produce 
an outcome that would effectively 
force states and localities to par-
ticipate m immigration enforce-
ment; she said,'. there couldhe an 
unconstitutional commandeer-
ing:"" 
Professor Spiro said that Cali-
fornia may have the upper hand in 
the suit's early stages, as the is-
sues in it are novel, leaving judges 
with substantial discretion. 
The Trump administration has 
not fared well in federal courts in 
California in other cases concern-
ing immigration, including ones 
challenging President Trump's ef-
forts to restrict travel from pre-
dominantly Muslim countries and 
to rescind a program protecting 
some 700,000 young unauthorized 
immigrants from deportation. 
But the ultimate fate of the suit 
will probably rest with the Su-
preme Court. In 2012, with what 
may have been unwarranted opti-
mism Justice Kennedy said he 
hoped that conflicts over immi-
gration policy would be worked 
out through reasoned discussion. 
""The national government has 
significant power to regulate im-
migration,"" he wrote. ""The sound 
exercise of national power over 
immigration depends on the na-
tion's meeting its responsibility to 
base its laws on a political will in-
formed by searching, thoughtful, 
rational civic discourse?' 
state custody. A third requires 
state officials to inspect some fa-
cilities that house people detained 
on behalf of the federal govern-
ment. 
Jennifer Chacon, a law profes-
sor at the University of California, 
Irvine, said the state laws had 
been carefully written to avoid di-
rect conflicts with federal immi-
gration laws. ""I think it is clear 
that California deliberately tried 
to draft laws that involved core ex-
ercises of state police power in a 
way that did not run afoul of fed-
eral law,"" she said. 
Each state law presents differ-
ent issues, and courts may give 
varying answers depending on 
how directly the state laws con-
flict with federal ones. More gen-
erally, though, courts will take ac-
count of the Supreme Court's deci-
sion in the Arizona case, which 
called for collaboration rather 
than conflict. 
""Consultation between federal 
and state officials is an important 
feature of the immigration sys-
tem?' Justice Kennedy wrote in 
the court's decision in the Arizona 
case. 
Gov. Jerry Brown, a Democrat, 
has said that consultation is fine 
but that federal officials should 
not use California's resources to 
pursue undocumented Californi-
ans. The federal government, he 
added, may do so on its own. 
""They are free to use their own 
considerable resources to enforce 
federal immigration law in Cali-
fornia,"" he said in October in sign-
ing one of the challenged laws. 
The Supreme Court has said 
that the federal government may 
not commandeer state resources 
to achieve federal objectives. In 
his speech on Wednesday, Mr. Ses-
sions denied that anything like 
that was afoot. 
""Contrary to what you might 
hear from the lawless open bor-
ders radicals,"" he said, ""we are not 
asking California, Oakland or any-
one else to enforce immigration 
laws."" 
""We are simply asking Califor-
nia and other sanctuary jurisdic-
tions to stop actively obstructing 
federal law enforcement,"" he add-
ed. 
But Professor Rodriguez said 
Investigating Sexual Misconduct Accusations, Arizona State Suspends a Physicist 
By KENNETH CHANG 
Arizona State University has 
suspended Lawrence M. Krauss, 
a prominent theoretical physicist, 
while the university investigates 
accusations of sexual misconduct 
over a decade. 
""In an effort to avoid further 
disruption to the normal course of 
business as the university contin-
ues to gather facts about the alle-
gations, Krauss has been placed 
on paid leave and is prohibited 
from being on campus for the du-
ration of the review,"" the univer-
sity said in a statement released 
on Thesday. 
Last month, BuzzFeed reported 
that several women have accused 
Dr. Krauss of inappropriate be-
havior including groping women 
and making sexist jokes. 
The university said it would not 
Order home delivery today. 
release any additional details until 
its investigation is complete. 
Dr. Krauss, a professor in the 
university's School of Earth and 
Space Exploration, is director of 
Arizona State's Origins Project, a 
multidisciplinary research effort 
to tackle questions about life, the 
universe and complex social prob-
lems. He gained prominence for 
his book, ""The Physics of Star 
Trek"" in 1995. He later became one 
of the leaders of the so-called 
""skeptics"" movement that es-
pouses science over religion. He 
has also written essays and Op-Ed 
articles that were published in 
The Times. 
Michael Crow, president of Ari-
zona State, told The State Press, 
an independent student news or-
ganization, that the university had 
received no complaints of har-
assment against Dr. Krauss. The 
university started the investiga-
tion after being contacted by Buz-
zFeed. 
Dr. Krauss moved to Arizona 
State from Case Western Reserve 
University in Ohio in 2008. 
Lawrence M. Krauss is direc-
tor of Arizona State's Origins 
Project, a multidisciplinary re-
search effort to tackle ques-
tions about life, the universe 
and complex social problems. 
CAROLYN RAs thA/AA.A,AT`rs YY`''S 
On Wednesday afternoon, Dr. 
Krauss posted a lengthy rebuttal 
to the BuzzFeed article. He said 
many of the incidents reported by 
BuzzFeed were based on unsub-
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signed from the board of e 
stantiated rumors and others letin of the Atomic Scientists, 
which is best known for its 
Doomsday Clock that represents 
that danger of atomic war and 
other calamities to the planet. In 
his resignation letter, he said he 
was resigning from the board be-
cause he did not want to distract 
from the organization's work. 
Additionally, a conference 
scheduled for next month to mark 
the 10th anniversary of the On-
of often vague innuendo. gins Project has been canceled. 
The university is not the only ""What we hope to do is reschedule 
one to take action against Dr. it for another time,"" Dr. Krauss 
Krauss. The American Physical said in an interview on Wednes-
Society and other organizations day. 
were distorted and misleading. 
""Has my language or demeanor 
sometimes made others feel un-
comfortable?"" Dr. Krauss wrote. 
""Clearly yes, and for that I sin-
cerely apologize. Nevertheless, 
the BuzzFeed article effectively 
paints a false picture of me and my 
relationships with others through 
a mosaic constructed largely out 
of anonymous hearsay aml a we b 
have withdrawn invitations to Dr. 
Krauss for upcoming talks. The 
Center for Inquiry, an organiza-
tion that promotes secularism, 
suspended its association with Dr. 
Krauss on Monday. 
On Tuesday, Dr. Krauss re-
th Bul-
"
IMAGES-003-HOUSE_OVERSIGHT_015602.txt,"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.” /d. 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.” Jd.; 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.

HOUSE_OVERSIGHT_015602
"
IMAGES-012-HOUSE_OVERSIGHT_033575.txt,"From: Tonja Haddad Coleman

Sent: 5/13/2013 10:28:30 PM

To: Jeffrey Epstein rn | Darren Indyke EE Debbie Fein

Farmer Jaffe is suing Donald Trump!

http://www.mypalmbeachpost.com/news/business/lawsuit-lobbed-against-trumps-ownership-of-former-
/nXjjQ/?icmp=pbp_internallink_invitationbox_apr2013_pbpstubtomypbp_launch

Tonja Haddad Coleman, Esq.
TONJA HADDAD, P.A.

Advocate Building

315 SE 7“ Street

Fort Lauderdale, FL 33301

facsimile

This e-mail contains PRIVILEGED AND CONFIDENTIAL information intended only for use of the addressee(s) named above. If you are not the intended recipient of this
e-mail, or an authorized employee or agent responsible for delivering it to the intended recipient, you are hereby notified that any dissemination or copying of this e-
mail is strictly prohibited. If you have received this e-mail in error, please notify us by reply e-mail and delete this e-mail from your records. Thank you for your
cooperation.

HOUSE_OVERSIGHT_033575
"
IMAGES-004-HOUSE_OVERSIGHT_018120.txt,"internet industry and new media in the San Francisco area, Sandy established TravelTalKMEDIA
in 2001 to provide radio and web-based, online information to the U.S. and global travel industry.

Listen to the radio interview (MP3)

GTX Corp's Tracking Apps Hit One Million Dowloads
GPS Wolrd - July 12, 2011 - GPS Tracking Apps, from GTX Corp subsidiary

LOCiMOBILE, have been downloaded more than one million times by users in 116 countries, and
continues to be on the top charts of iTunes and Android marketplace, the company said.

""The GPS Tracking app is the simplest way to stay connected to a child, parent, friend or business
associate, quickly and accurately from a Smartphone or Internet-ready device like the iPad, iPod
or Android tablet, allowing users to locate people, instantly with one simple touch of a button,""
said Patrick Bertagna, CEO of GTX Corp. ""We also offer it at a price everyone can afford without
compromising privacy.""

Read the full article

GTX Corp... More'n A Million Served (GPS)

——

SatNews Daily - July 1, 2011 - GTX Corp. (OTCBB: GTXO.OB), a
provider of real-time two way GPS Tracking and personal location
services (PLS) has announced its LOCiMOBILE subsidiary’s GPS

Tracking Apps has managed more than 1 Million downloads with

users in 116 countries and continues to be on the top charts of iTunes

and Android market place. “The GPS Tracking app is the simplest way to stay connected to a
child, parent, friend or business associate, quickly and accurately from a Smartphone or internet
ready device like the iPad, iPod or Android tablet, allowing users to locate people, instantly with
one simple touch of a button,” said Patrick Bertagna, CEO of GTX Corp. “We also offer it at a
price everyone can afford without compromising privacy.”

Read the full article

Professor Andy Carle talks about ""Nana"" technology and the GPS Smart Shoe™

HOUSE_OVERSIGHT_018120
"
IMAGES-004-HOUSE_OVERSIGHT_017213.txt,"4.2.12
WC: 191694

provide him with classified material. I do not know this to be a fact, but I have been told by
several experienced investigative reporters that this is how it is done—that without some
encouragement and promises of confidentiality and positive portrayal of the source, the leaks “dry
up.” When I read books by these authors, I can often surmise who at least some of the sources
are: they’re usually the ones who are portrayed positively in other parts of the book—dquid pro
quo!

In other words, authors like Seymour Hirsh not only report the classified information given to
them by sources, they develop, encourage, and in other ways facilitate the continuing flow of
information—information which they know is classified and hence being illegally turned over to
them—from their “criminal” sources. An important difference is that Hirsh has a political agenda:
he publishes only information that serves that agenda. Assange, on the other hand, seems willing
to publish material equally critical of all governments. For engaging in such journalism, Hirsh
wins Pulitzer Prizes, gets invited to White House dinners and to lecture at schools of journalism
which teach these methods.

Woodward is different in some respects and similar in others. Whereas Hirsh’s sources tend to be
beauracratic dissidents, Woodward relies on high ranking members of the administration who
want their “spin” on the story he is publishing to a very wide audience. Some of those politicians
may be authorized to disclose the material, but certainly some are not, and much of the material is
classified (though it probably shouldn’t be).

Both authors recognize the reality that many, if not most “state” secrets are designed not to
protect the security of the nation, but rather to protect (and enhance) the reputations of the
incumbent officials. In this regard, I recall a joke that made the rounds of the Soviet dissident
community when I represented several of them in the 1970s. It is set during the period of the
Stalin Show trials, when a dissident is arrested for calling Stalin a “fool.” He wanted to defend
himself by showing that Stalin was indeed a fool, but he was cut off by the judge who said: “If
you were being charged with defamation, truth might be a defense.

But it is not a defense to what you are being charged with.” The dissident was taken aback and
asked the judge, “If I am not being charged with defaming Stalin for calling him a fool, what am I
being charged with?”

The judge responded solemnly: “You are being charged with revealing a state secret!”

Many current state secrets are really secrets whose disclosure would embarrass—properly
embarrass—office holders. Even the Solicitor General who argued for the Nixon Administration
to prevent publication of the Pentagon Papers later acknowledged this reality. That’s why
selective leaking and selective withholding of classified material is so damaging to truth,
accountability and historical accuracy. And that’s also why it is so prevalent in every
administration.

Wikileaks is different precisely because Assange is not publishing selectively in order to tell a
story favorable to one group or another. He has no political agenda. His goal is transparency for
the sake of accountability. With the exception of some names and addresses, Wikileaks has let

126

HOUSE_OVERSIGHT_017213
"
IMAGES-009-HOUSE_OVERSIGHT_028131.txt,"ministers when we’d arrived in the banqueting hall. I did have a good talk with
Egypt’s Amr Moussa, and the foreign ministers of Morocco and Tunisia. When
I tried to start a conversation with Syria’s Farouk al-Sharaa, however, he
pointedly, though politely, said he felt that would not be appropriate. President
Assad had broken off talks with us earlier in the year, insisting that we first
commit explicitly to honor Rabin’s “pocket deposit” on the Golan Heights. Still,
in my formal remarks at the dinner, I urged both sides to resume our effort to
negotiate an Israeli-Syrian agreement. Sharaa’s response was, again,
unencouraging. But I did notice, and take heart from, the fact that it was neither
polemic nor overtly hostile towards Israel.

When I returned to Israel, I found that Peres, too, wanted to restart the
negotiating process with the Syrians. The effort took on fresh momentum after a
meeting at Peres’s home in Jerusalem in early December, ahead of his visit to
Washington for talks with President Clinton. Itamar Rabinovich and I had each
met with him separately a few weeks earlier to brief him on how the talks with
the Syrians had gone under Rabin, and why they’d reached an impasse. We
emphasized Assad’s insistence on a preemptive agreement on our leaving the
Golan. Peres now came forward with a plan. It was the diplomatic equivalent of
what the Americans, a few years later in the second Gulf War, would call
“shock and awe.” This was “dazzle and befuddle.” As Peres explained it, we
would flood Assad with proposals: not just on land or security, but everything
from water and electricity to tourism and industrial zones. Assad was in
personal control of the Syrian side of the talks. The mere volume, range and
complexity of the simultaneous engagement Peres had in mind would, he
hoped, dilute his focus on the Golan. “The best results are extracted from
confusion,” he said. Having watched President Assad operate for years, when I
was head of intelligence and chief of staff, I said I was skeptical. I used the
image of a bulldog. “It comes into your living room with one aim: to lock on to
your ankle. You can throw fireworks, cookies, balloons, a tasty bone. But it’s a
bulldog. It’s still going to move another step toward your ankle.” For Assad, the
ankle was the Golan.

I understood why Peres wanted to make a new effort to get peace with Syria.
Obviously, it was something to be desired in itself. It would transform the terms
of our conflict with the Arabs, and maybe even bring within reach the hope of
ending it altogether. But there was a political consideration as well. For all his
other accomplishments, Peres had a record of repeated electoral defeat as head
of Labor. This next election would be the first held under a new set of rules.
Instead of merely choosing lists of Knesset candidates, Israelis would cast two

283
HOUSE_OVERSIGHT_028131
"
IMAGES-006-HOUSE_OVERSIGHT_021150.txt,"Starting my day with a few of the supplied oxytocin’s and a bloody
mary, made by the live-in house chef. Having two celery sticks for my
breakfast, I wanted to lye out by the pool and forget the world. Ron hated
tan-lines so to be caught with a bikini top on was a big no-no in his rule
book but after my cries to stop were so blatantly ignored last night, I was
out to piss him off so I didn’t remove my shirt. I put on my headphones
and before I knew it had fallen into a deep slumber from my self-made
therapeutic cocktail, the only way I knew how to cope with the emotional
turmoil on the inside.

Desperate to hear his voice I called my friend T.J a few more times that
week. I needed to feel like someone out there really knew me. Sometimes
we could just chat like old friends with no care in the world and laugh at
a distant memory from too long ago. Then would come the good-bye part
of the conversation and we would both get teary-eyed not knowing what
could happen next or if this would even be the last time we ever spoke to
each other again.

My biggest fear came to reality when f was in our bedroom one
afternoon, just lounging around out of boredom. Ron came bursting in
through the door, red as a tomato. I couldn’t help but feeling I was in big
trouble. His face was distorted and raging towards me. I knew right away
he must have found out that | was calling T_J, but how, | had no idea. 1
had always tried to be as invisible as possible, soon enough it was all
explained.

“Are you trying to get me caught? You are nothing but a stupid girl
you know that! What am I supposed to do with you now?” He was
tearing up the room while his rants gave me something else to think
about. What would he do with me if he had no use for me any longer? |
wasn’t even thinking about him being caught for soliciting illegal
immigrants for the purpose of prostitution. | was more worried that he
would be upset at the fact I was talking to another guy, maybe even
jealous that he was at least my age. | replied with simple sentences that I
could manage to get out between all the shouting. I kept saying, “I’m
sorry” and putting my head down in shame. He picked me up by my
throat pinning me against the wall, “You are going away, far -far away
from me and you better be nicer to the next man I send you to, I’ve heard
he’s not a nice as most would like. Are you fucking hearing me Bitch?” I
slid down the wall, choking on the first air entering my lungs, breathless
and terrified, | never thought Ron was a nice guy but I had never seen
him lose it this bad. Now | was being sent me away to another stranger,
another man, it only terrified me more.

The girls came in to say their good-byes all of them were crying and
asking me in their best English languages, why | had to call someone and
lose everything? I was able to find out through the broken sobs off of

11

C Copyright Protected Material
CONFIDENTIAL GIUFFREO04 144

them that the confession came from the house-keeper who said she saw
me use the room regularly but was never messed up, so Ron looked at the
recent telephone bills and found the same number dialed from that room
consecutively, he knew it was me right away. At least he didn’t know it
was another guy, I thought to myself, or I probably wouldn’t have made it
out of there alive.

Ron came back to usher the girls out of my room and told me I had five
minutes to pack my clothes, which he made clear were to be my only
belongings to take with me. He washed his hands clean of me that night,
or so he thought. The driver came knocking at my door, just as Ron said,
no longer than the five minutes that he had offered me and he took my
single bag to the car. 1 didn’t want all the jewelry, music or books that he
so caringly bought me as tokens of his twisted affection. Only taking my
clothes and a wad of hundred dollar bills I had been saving, | slit a hole in
my scrunchie inserting my cash for a rainy day that I was more than sure
was just around the corner. .

We drove for hours, until I started seeing familiar surroundings. |
couldn’t believe my own eyes. | was back in Miamt, but not on the
beaches, somewhere in the CBD this time. The Driver delivered me to the
front door with my one bag and waited at the door with me. Now I knew
how it felt to be a puppy picked from her litter as you can only hope your
next owner would treat you with some sort of kindness.

Another balding man answered the door but he wasn’t so grotesquely
fat like Ron, but still a new owner at that. He looked me up and down and
seemed amused as he snickered to himself. With one last look to the
driver over my shoulder it was almost an appeal to him for some way to
help me. I knew he couldn’t anyways, I was just hoping. He told me his
name was Charlie but didn’t even bother in asking me for mine. I was
sure Ron already filled in all of my details when he arranged this.

Charlie picked up my bag and led me into his bachelor pad townhouse.
I was never given a welcoming tour of my new residence or made to feel
comfortable. He walked me up the stairs and opened one of the doors in
the small hallway. Telling me this would be my room, he showed me into
it and told me to wait, he would be back shortly. I sat on my bed afraid to
touch anything and after the warning Ron gave me I knew I had to watch
my step around here. I put my head down onto the pillows my where
world was falling apart and let my emotions downpour. Exhausted from
the days emotional turmoil | ended up falling asleep. 1 don’t even know if
he ever came in at all that night.

The next morning I looked out of the window to see my new
surroundings. It was a beautiful sunny day outside, unlike the dreary cell
I was locked away inside of. Feeling the sun warm up my face through
the glass, it radiated a familiar sense of comfort from the days of the good

12

O Copyright Protected Material

GIULFREO04 145

HOUSE_OVERSIGHT_021150
"
IMAGES-009-HOUSE_OVERSIGHT_027202.txt,"GUID: ASAC6A82-A3E1-484C-9949-935E9F217713
Message: http://m.klgates.com/daniel-f-ritter/

Time: 03 ‘39:51 PM (510367191)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: ED4099E2-8ACD-40FF-AEE4-380CE018366B
Message: This guy next week

Sender: e:jeeitunes@gmail.com

Time: 03/04/17 04:43:21 PM (510367401)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 8611 EE6C-08E3-48BD-BADB-9A85057B437B

Message: They think everyone should have med records in their phone . Defense dept records different system
than VA. Hate intl aid vs US NEEDS . NIH, techno transfer goofy , Grant s too difficult. Drugs too addicting etc

Sender:

Time: 03/04/17 04:45:42 PM (510367542)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 9FBCE866-D13B-402E-9A65-4EFOFB827427

Message: Med records should be in cloud w homomorphic encryption ability To get what is needed without
putting data at risk but yes ppl should own their own medical records

Sender:

Time: 03/04/17 04:46:02 PM (510367562)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 9F8D1F98-9D1B-4C1D-B3C3-211E7F93E2EF
Message: Ok got it let's talk next week

Sender:

Time: 03/04/17 04:46:07 PM (510367567)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 5B2F64C2-6EE9-4505-B04D-801FE47367DE
Message: Or whenever

Sender:

Time: 03/04/17 04:46:33 PM (510367593)
Flags: 1126401

Is Read: Yes

Is Invitation: No

HOUSE_OVERSIGHT_027202
"
IMAGES-005-HOUSE_OVERSIGHT_019677.txt,"The Unheeded Warning | 189

ton had pointed out to me that “the business of intelligence services
requires understanding precisely the relationship of their opposi-
tion to them.” His view, though his opponents inside the CIA would
call it with some justification an obsession, was that an intelligence
service had to focus on the moves of its rivals. To accomplish this
“business” in the first decade of the twenty-first century, the CIA
had to establish why its new opposition, the SVR, was laying the
foundation for an espionage operation. What were its priorities in
the resumption of the intelligence war? Its inside man in the SVR,
Poteyev, provided it with a tremendous advantage in this relation-
ship. He knew the links in a sleeper network that the SVR believed
was safely hidden from surveillance. If they were followed, when
they were activated, they could expose whatever recruits the SVR
had in the American government. The CIA duly shared this infor-
mation about the sleeper ring with the FBI, which had the respon-
sibility for the surveillance of foreign agents in the United States.
The FBI, for its part, kept the Russian sleeper agents under tight
surveillance—an operation that grew in complexity and expense as
© more SVR agents arrived in the United States. ®
Meanwhile, in Moscow, Poteyev was following the unfolding
operation. Part of his SVR job was to continue preparing these
“Americans,” as they were called by the SVR, for their assignments.
Some had been sent as couples, others as singles. One of the sin-
gles that Poteyev personally handled was Anna Kushchyenko. She
was a strikingly beautiful Russian student who changed her name
to Anna Chapman by briefly marrying a British citizen she met at
a rave party. After taking his name, she left him. After completing
her training in Russia, she was sent by the SVR to New York City
to establish herself as an international real estate specialist. Other
“Americans” under Poteyev’s watch became travel agents, students,
and financial advisers. In all, Poteyev identified to the CIA twelve
such sleeper agents. The cost of FBI surveillance of them over the
years became sizable. According to a former FBI agent, around-the-
clock surveillance on the movements and communications of a sin-
gle individual can cost over $10,000 a day.
When the CIA received Poteyev’s message in 2010 warning that
Russian military intelligence had asked the SVR to activate some of

| | Epst_9780451494566_2p_all_r1.z.indd 189 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019677
"
IMAGES-006-HOUSE_OVERSIGHT_022459.txt,"Inference: International Review of Science

Feedback & Comments

Vangelis Tourloukis

Post-doctoral researcher in the Paleoanthropology Department of the Institute for Archaeological
Sciences at the Eberhard Karls University of Tiibingen.

d

“T enjoy and respect Inference, and I really appreciate your invitation. ’

Luca Turin
Biophysicist with an interest in biological electronics.

“A science article I wrote for Inference is now online. I am honored to find myself in the
company of people whose writing I admire, like the great critic George Scialabba and the

d

astronomer and cosmologist Jean Pierre Luminet. And I even like the caricature.’

“The article looks great, many thanks. I would be happy to write some more for your excellent
magazine.”

Reidun Twarock
German-born mathematical biologist at the University of York.

“Many thanks for the link - I have read the essays with great pleasure.”

Jaya Sivaswami Tyagi
Professor and Head, Department of Biotechnology, All India Institute of Medical Sciences.

“T have indeed received the print version of Inference in very good condition considering its size
and was impressed by the product. I have glanced through it and will definitely read the articles
and give you my feedback in due course of time.”

Richard Wagner
Holbert L. Harris Professor of Economics at George Mason University.

“Thanks for sending along the new issue of Inference. Your journal has established a wonderful
editorial policy of presenting deeply thoughtful examinations of a broad range of scholarly
topics. Not only do I plan to keep up with Inference going forward, but also I will convey my
enthusiasm for your journal to those colleagues of mine who I think will be interested.”

15

HOUSE_OVERSIGHT_022459
"
IMAGES-002-HOUSE_OVERSIGHT_014155.txt,"LMS UINoS smay UOIER 17
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HOUSE_OVERSIGHT_014155
"
IMAGES-001-HOUSE_OVERSIGHT_011295.txt,"Esa Origins 7 February 24 — 26, 2017
PROJECT An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:

Envisioning and Addressing Adverse Outcomes

ARIZONA STATE UNIVERSITY

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:

e 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

IZ

HOUSE_OVERSIGHT_011295
"
IMAGES-002-HOUSE_OVERSIGHT_012524.txt,"sor & Associates

* Reporting aod Transsrigies, Jas,

QO. one offered you any drugs to do a
massage?

A.

Q. one offered you any alcohol to doa
message?

A.

HOUSE_OVERSIGHT_012524
"
IMAGES-005-HOUSE_OVERSIGHT_018569.txt,"biggest recurring questions in my life. Later events have taught me a lot about work that
has already been done on accountability within communities. In particular, I want to
highlight the book The Revolution Starts At Home: Confronting Intimate Violence
Within Activist Communities (edited by Ching-In Chen, Jai Dulani, and Leah Lakshmi
Piepzna-Samarasinha), which was published in 2011.

But there's a lot of other work out there on how to deal with a perpetrator of violence
without resorting to our corrupt and violent established prison svstem. People of color
Should be credited for much of this work, because communities of color are rarely well-
served by the criminal justice system, and thus have particular incentives to seek
alternatives. Sometimes, this field is called ""transformative justice"" or ""restorative
justice."" Here is a post that links to a number of resources on transformative justice:

http://clarissethorn.com/blog/2012/01/30/some-transformative-justice-links/

te Ok ok

Social Responsibility Within Activism

Tonight I had Thanksgiving dinner with my mother and her boyfriend. Some friends of
my mother attended, one of whom is a lesbian who I'll call Kay. Kay attended dinner
with her mother, who is unaware of Kay's sexual orientation. One of the reasons Kay's
mom doesn't know about Kay's sexual orientation is that Kay's mom has already behaved
quite badly towards Kay's elder sister, who is an out-of-the-closet lesbian.

I knew this whole situation going in, and one thing that struck me was how much of a
nice person Kay's mom is. I mean... she's really nice. I mean, she clearly tries to be a
good person. She also tried really hard to help me do the dishes. (I didn't let her because I
wanted them all to myself.)

I've been thinking a lot lately about how to engage with people who have done bad
things, or who are currently doing things I think are bad (like shaming their lesbian
daughters). It wouldn't have been right to throw my sex-positive ideas on the table while
talking to Kay's mom -- mostly because Kay specifically asked me not to, ahead of time.
But. The most powerful tool for getting people to reconsider their stigma against
alternative sexuality is personal engagement. Don't I have some responsibility here? Is
there something I can do?

Other examples of this are rife. One very intense, very important issue I grappled with
this week was having a friend email me to inform me that another friend -- someone I
like and admire a lot -- has been credibly accused of sexual assault by a person who will
never press charges. This has come up before in my life... every time it's a little different,
and yet so many things are the same: a person is assaulted, the news gets out among
friends, the survivor doesn't press charges, there is confusion among the friends about
how to act, eventually things die down, and I feel as though I should have done more.

When I was in high school, one of my closest male friends raped a female acquaintance
of mine. She didn't press charges and they later had a romance that was, to all
appearances, consensual. I pieced events together slowly -- he did acknowledge what he'd
done, though never directly to me. I didn't know what to do, at the time, and I still feel as
though I should have done so much more. He and I were so close. I never had the nerve

HOUSE_OVERSIGHT_018569
"
IMAGES-001-HOUSE_OVERSIGHT_010835.txt,"01:52:54

01:52:54

01:52:56

01:52:58

01:53:00

01:53:02

01:53:05

ON Oa bb WN —

01:53:07

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01:53:09
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04:53:13 1 1
orsate 12
01:83:19 1 3
04:53:21 14
01:53:22 1 5
01:53:26 1 6
01:53:34 1 7
ors3.c2 18
01:53:33 1 9
01:53:36 20
o2z0743 24
020743 22
02:08:03 23
02:08:06 24
02:08:08 25

02:08:12

02:08:12

02:08:14

02:08:16

02:08:18

02:08:23

02:08:27

ON Oa hb ON =

02:08:28
02:08:28 9
02:08:34 10
02:08:37 11
o20s40 12

o2z08a4 13
o2osae 14
ozess: 15
oz08ss 16
ozoess 17
ozos01 18
ozoa03 19
ozos0e 20
o209:09 21
020912 22
o200:14 23
ozoeis 24
ozos21 25

10/20/2015 01:07:28 PM

101

identified Alan Dershowitz as someone who had 020923 1
information relevant -- and let's be clear, that o20825 2
this is not a lawsuit about some contract dispute 020928 3
or something -- that he was someone who had 20323 4
information relevant to the sexual abuse of o20c30 5
underage girls and, indeed, they were asking o20832 §
questions about what information -- what o20934 7
information he might have. o2038 8

Another -- I know, I remember now, there's a ozoo28 9
whole other line of things that -- that I had in ozoaar 10
mind at the time, and I think since you want to o2zos43 11
test my memory -- I'm not -- let me be clear. orooas 12
I'm not claiming I have a superb memory. I have ozosaa 13
an average memory, but this is a subject that's 020052 14
very important to me, and so I've worked, you ozossa 15
know, very hard to get all the information. ozoes7 16

1 would like to take a break. ozoess 17

MR, SCAROLA: Sure. Take a break. ozi001 18

THE VIDEOGRAPHER: We are going off the video | oz100 19
record, 3:27 p.m. o21007 20

(Thereupon, a recess was taken.) o210:11 21

THE VIDEOGRAPHER: We are back onthe video | oz1014 22
record, 3:41 p.m. oztors 23

THE WITNESS: I want to continue my answer. ozto21 24
I'm sorry. I got emotional there for a moment. oz1023 25

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

102

I want to do a good job for Virginia Roberts o210.27 1
on -- on representing all the -- the evidence o2t028 2
that is available to support her. ozt031 8

The next thing that I was thinking of was, oz1o3s | 4
all right, then the question is: Well, what does ozto38 5
Mr. Dershowitz have to say about all this? So I ozt01 « &
started to look at the information on that as o2toas | 7
well. oie | 8

In 2009, there had been a deposition request oz1048 | 9
sent to Mr. Dershowitz, and I -- I saw a document e2z1050 10
showing that that had actually been served on -- oztoss 11
on him, and, you know, to the extent that what I o2zto 42
saw was a -- I think a receipt from the process o2t101 13
server, or something along those lines, so I saw o2z1108 14
attempt to contact him in -- in 2009. ozii07 15

And then I saw an additional attempt to oz 16
contact him in 2011. Mr. Scarola had sent him a oz11ts 17
note and there was, you know, some back and oz 18
forth. The -- the one note that -- that jumped ori 19
out to me was one in which Mr. Scarola had o2tr21 20
written to Mr. Dershowitz, I think the phrase ozi121 24
was: Multiple witnesses have placed you in the ozt123 22
presence of Jeffrey Epstein and underage girls; I ori126 23
would like to depose you about those subjects. o2ti2s 24

And the answer that came back was not, well, 021131 25

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

103
let me clear all of that misunderstanding up.
You know, that's -- frankly, if I had gotten
something like that, that's what I would have
said.

The answer that came back was -- from
Mr. Dershowitz was something along the lines of,
if I remember correctly, well, tell me what
you -- you -- tell me what you want to know and
I'll decide whether to cooperate, was I think
the phrase that was used. And -- and so there
was an attempt, you know, a 2009 attempt, a 2011
attempt to get information from Mr. Dershowitz.

Then there was another subpoena without
deposition for -- for documents. You know, we
have heard a lot about records in this case that
could prove innocence. There was a records
request to Mr. Dershowitz in 2013. And, again,
my understanding was that there was no -- you
know, no documents were provided on that.

And so those -- I had that information.
Another bit of information that I had was that in
2011, I believe in early April -- this is not
attorney/client privileged information from
Virginia Roberts. This is a telephone call that
she placed from Australia where she had been

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

104
essentially forced into hiding by Jeffrey
Epstein. She managed to escape and was hiding
out in -- in Australia, and that she would --
that somehow, you know, Mr. Scarola and
Mr. Edwards were able to reach her and there was
a telephone call that was made.

And in that telephone call she identified
Alan Dershowitz as someone who would have
relevant information about Jeffrey Epstein and
the sexual abuse of underage girls.

And so I had that information as well. So
that, as I understand, the question was: What
could I recall off the top of my head with regard
to the factual basis for information connecting
Mr. Dershowitz with the sexual abuse of minor
girls, plural, and that, sitting here at this
moment, is the best that I can recall for the
information along those lines.

BY MR. SIMPSON:
Q. Was that answer --

MR. SCAROLA: Excuse me. Before -~ before
you go on to another subject, Professor Cassell
is entitled to refresh his recollection to give
you a complete response. So why don't you go
ahead and do that now. Make sure you've covered

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

Page 101 to 104 of 151

26 of 38 sheets

HOUSE_OVERSIGHT_010835
"
IMAGES-008-HOUSE_OVERSIGHT_026233.txt,"From: Lvjet

Sent: 11/21/2017 1:37:36 AM
To: jeevacation@gmail.com
Subject: Re: TSA PBI

Importance: — High

yes,,, that makes sense,
ok,., I'll re-positon to Boca on Saturday, ill make resv for departure for Dave and |,

thx
Larry

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

Sent: Mon, Nov 20, 2017 8:29 pm

Subject: Re: TSA PBI

might make more sense to reposition on sat to boca?

On Mon, Nov 20, 2017 at 7:23 PM, Larry Visoski ,ti‘i‘i wrote:
Jeffrey
While Trump is in PBI, TSA only allows arrival and departures between 8am and 5pm for General Aviation.
| made a resv for Nov 26th at 8am to St Thomas,,
Passengers: You and
| can make passenger changes up to 24 Hours before Departure, they also request if we are traveling with an animal.,
FYI,
They also ask if Passengers are Male or Female, strange, they didn’t ask names.

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
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communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@qmail.com, and
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including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026233
"
IMAGES-005-HOUSE_OVERSIGHT_019111.txt,"A A POWERFUL BILLIONAIRE,

THE SEX SCANDAL THAT UNDID HIM, AND ALL
: THE JUSHIEE THAT MONEY CAN BUY:

THES SHOCKING TAUE STORY OF JEFFREY EPSTEIN

HOUSE_OVERSIGHT_019111
"
IMAGES-006-HOUSE_OVERSIGHT_021636.txt,"f
. D.

0

-515 (Rev, 12-19-06)

“Squad supervisor approval
(please initial)

Accomplishment Report

(Accomplishment must be reported and loaded into
ISRAA within 30 days from date of accomplishment)

Accomplishment involves:
(check all that apply)

4. Used, but did not help
2. Helped, minimally

File Number
(S/E-MIN-16¥ O62!

Boon Pa acto

Drugs im}
A Fugitive O
Bankruptcy Fraud Cj
Computer Fraud/Abuse Oo
Corruption of Public Official
Money Laundering

Sub Invest Asst by FO(s)

Asst. FO(s)
A B.C. OD.

Rate FO

Fin,Analyst | |

[Aiccrantasss [|

ELSUR/T.N |_|

Rate FO IAT

Consen Mon.

Eng. Tape Ex.
Legats Asst.

| | Evid. Purchase
|_| ntrow info

A, Complaint / Information/ Indictment

(Federal []Local
Complaint Date:

F, Conviction
O Federal C1 Locat
Conviction Date:,

(J Intemational (1 Intemational

Check if Civit Rico Complaint 1 Subject Description Code

e (——-)*

Information Date: For 6F, G, H-Include Agency Code
(1 Felony or

(1 Plea or
State:

(7 Misdemeanor

0 Triai .

Judicial District:

indictment Date:

B. Locate / Arrest
(Federal ([JLocal {J International :

Subject Priority, OA (7B Oc
Locate Date:

G. U.S. Code Violation
Required for sections A, B, F and J
(Federal Only)

Title

Arrest Date: Section

(-) Subject Resisted Arrest
(D Subject Arrested was Armed

C. Summons Date:
(Federal [7 Local

D, Recovery / Restitution / PELP X

[Federal [JLocal [1 International H. Sentence Date:
Recovery Date: Sentence Type: ' : .,
e
Code v Amount § In Jail: Years Months__
Code * Y Amount $

Months___
Months,

Suspended: Years.

Restitution Date: _.
[] Court Ordered = [[] Pretrial Diversion

Probation: Years,

Code* ev = Amount $ Fines: $
PELP Date: F
Code * ¥ Amount $ I. Disruption/Dismantlement: “

E. Hostages(s) Released Date:

Disruption Date:

Released by: (] Terrorist [7] Other

Dismantlement Date:

Number of Hostages:
Completion of FD-515a Side 2 Mandatory

P, Subject Information - Required for all blocks excluding block D (Recovery/PELP), blocks E, f, Land N

Oo Subject related to an LCN, Asia

Org:
Complete FD-515a, Side 1 Blocks A-E mandatory, F-H as appropriate,

Completa FD-515a, Side 1 Blocks A-C only.

x.Additional information may be added by attaching another form or a plain sheet of paper for additional entries.
e See codes on reverse side.

[pen sisters |__|
[compuer | | |Phoocover |_|
[Consen Mon, | [MB Poyorann ||
PeusuriFisc | | search Warant| |
| ELSUR/T. IN | Show Money
fro. Feldsen| | |socass. |_|
[swat Teom |_|
Tech Agtcuip.| |
See
[tabi eam] | _[uco-Grow il] —_|

es ee

jagzed Crime (AOC), Italian Organized Crma (10C), Russian/Eastern European, Caribbean, or Nigerian Organized Crime Group -

Investigative Assistance or Technique Used
3. Helped, substantially

4. Absolutely essential
For Sub, Invest. Assist. by other FO(s) indicate A, B, C, D for corresponding FO

IAT
Lab. Field Sup

J. Civil Rico Matters

Judgment.
Judicial Outcome. ox

Amount $
Suspension: Years

K. Administrative Sanction Date:

Subject Description

Type: Length:
Suspension [[] Permanent
Debarment or
Injunction Year Months

L. Asset Seizure Date:

Asset Forfeiture D
CATS # Mandatory

Circte below one of the three asset forfeiture:
Admin, Civil Judicial, or Criminal
Do not indicate $ value in Section D

(Circle one) Date:

N. Drug Seizures “

Drug Code ®
Weight

FDIN

Do not indicate $ in

0. Child Victim Information

Child located /identified Date: ofgofroy

Prriving

oO Subject relaled to an OC/Drug organization, a VCMO Program National Gang Sirategy target group, or a VCMO Program National Priority tnitialive target group -

Rate FO \AT

|| Juco-Natacr| |
Be crinins ieassl |
ERT Asst.

|

Ft. Mon. - ITC
For, Lang Asst.
Non FBI Lab Ex

Also complete “Section G""

Other Civit Matters Date:

M. Acquittal/ Dismissal/ Pretrial Diversion

Date Prepared 29
Date Loaded
Date Loader's Initials

Rate FO IAT

| Vict Witn Coor | Coor

10 Wanted Flyer

[eee
a

Date:

Months__

Code *

ate:

Date:

Code °

Section D

[J Deceased

Social Security No. (if available)

Serial No. of FD-515

v Requires that an explanation be attached and loaded into ISRAA for recovery over $1 m and PELP over $5 m, disruption, dismantlement, and drug seizures,

B/E-MM- 108062 - 20%

b6
b7C

HOUSE_OVERSIGHT_021636 |
"
IMAGES-009-HOUSE_OVERSIGHT_027564.txt,"GUID: 329FFCAB-A4A2-4345-8042-0C368F34AR84

Gl

Message: But he didn't refuse-- he rollled

Sender: Po

Time: 12/07/18 03:07:15 PM (565916835)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 8F848841-0B15-4374-BB45-AB3A02DFDF81

Message: After all this he stiffed them???

Senders Po

Time: 12/07/18 03:08:15 PM (565916895)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 2B5C0947-ECC9-4127-9449-7209DB8B68D7

Message: He has never been accused of having a big beautiful brain

Time: 12/07/18 03:34:46 PM (565918486)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 47CA8585-B848-4395-8B03-FF125DB52B

tl
Hy

Message: What does that mean

sender:

Time: 12/07/18 03:35:05 PM (565918505)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 291CB58D-9180-4A87-8BBF-B9AAC8C8EF79

Message: Aren't they going to 'unseal' tonight

Time: 12/09/18 04:19:22 AM (566050762)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: DDE23083-065F-4132-A05A-E43269B370DB

Message: Yaweh is a honor badger

HOUSE_OVERSIGHT_027564
"
IMAGES-007-HOUSE_OVERSIGHT_022776.txt,"From:

Sent: Friday, January 22, 2016 2:28 PM
To: Jeffrey Epstein

Subject: Help!

Importance: High

Since I need and at this point want to move off this breathtaking property, I want to be able to buy a home in
NJ, with $0 savings, = impossible. With salary and cost of living, I don't get ahead. Also my luck with men and
relying on a man for support is the worst idea. Average homes in NJ are $400-$500K ugh I also still have to pay
off student loan, ($9,809.74).

On Wednesday, January 20, 2016, jeffrey E. <jeevacation@gmail.com> wrote:
what do you suggest?

On Wed, Jan 20, 2016 at 7:19 PM, i ote:

Happy birthday, I remember the few I had spent with you, good memories!

The problem is that you may appreciate my support but that doesn't help me. Yes, I told you I can't have
people coming here to ask about you and ex pals.... My landlord may shoot them. He is pissed. I need your
help. Out of all the people you should be helping is someone who actually genuinely cared about you.i realize
you're living the good life and I'm not your concern, but if you really appreciated my support then you'd help
me otherwise I don't know what I'll do.

On Wednesday, January 20, 2016, jeffrey E. <jeevacation@gmail.com> wrote:
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, [iS rote:

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. <jeevacation@gmail.com> wrote:
i appreciate it. I should be back feb 14,

On Tue, Jan 19, 2016 at 6:39 PM, [ii rote:

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.

1

HOUSE_OVERSIGHT_022776
"
IMAGES-011-HOUSE_OVERSIGHT_031864.txt,"si

is rare, 1s rarely coordinated and usually is not designed to be a
mortal blow. It is defeated by Israel's strategic advantage of interior
lines.

Israeli Geography and the Convergence Zone

Therefore, it is not surprising that Israel's first incarnation lasted as
long as it did — some five centuries. What is interesting and what
must be considered is why Israel (now considered as the northern
kingdom) was defeated by the Assyrians and Judea, then defeated by
Babylon. To understand this, we need to consider the broader
geography of Israel's location.

Israel is located on the eastern shore of the Mediterranean Sea, on the
Levant. As we have seen, when Israel is intact, it will tend to be the
dominant power in the Levant. Therefore, Israeli resources must
generally be dedicated for land warfare, leaving little over for naval
warfare. In general, although Israel had excellent harbors and access
to wood for shipbuilding, it never was a major Mediterranean naval
power. It never projected power into the sea. The area to the north of
Israel has always been a maritime power, but Israel, the area south of
Mount Hermon, was always forced to be a land power.

The Levant in general and Israel in particular has always been a
magnet for great powers. No Mediterranean empire could be fully
secure unless it controlled the Levant. Whether it was Rome or
Carthage, a Mediterranean empire that wanted to control both the
northern and southern littorals needed to anchor its eastern flank on
the Levant. For one thing, without the Levant, a Mediterranean power
would be entirely dependent on sea lanes for controlling the other
shore. Moving troops solely by sea creates transport limitations and
logistical problems. It also leaves imperial lines vulnerable to
interdiction — sometimes merely from pirates, a problem that
plagued Rome's sea transport. A land bridge, or a land bridge with
minimal water crossings that can be easily defended, is a vital

HOUSE_OVERSIGHT_031864
"
IMAGES-004-HOUSE_OVERSIGHT_017575.txt,"Dialog participantsi¢%

/ii% partial list of people who will be participating in the 2013 Dialog
Retreat (all are references):

*Veronica Allende Serra**iz% 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*i¢% Professor, Harvard Law School. Fmr Acting AsstuU.s.
Attorney General in the office of Legal Counsel.

*Kirsten Bartok*-- CEO, AirFinance. Fmr CFO of XOJet. Fmr GP at Alpine
Investors.

*Evan Bayh*1¢% 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*1é% CEO, AKQA.

*Nick Beim*1g% GP, Matrix. Boards: Gilt Groupe, TheLadders, Care.com,
Conductor, Intent Media, BuywithMe.

*Nicolas **Berggruen*-- President, Berggruen Holdings.

*Charles Best*1¢% CEO, DononrsChoose.

*Elizabeth Blackburn*iz4 Prof of Biology and Physiology, UCSF. 2009 Winner
of Nobel Prize in Medicine. President, American Association of Cancer
Research.

*David Bonderman*i¢% 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*1iz% Senior Advisor for Energy and Environmental Policy to
U.S. President Obama.

*Erik Brynjolfsson*iz% 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*ig% CEO, Passport Capital.

*John Burbank*1¢% President, Nielsen Strategic Initiatives. Fmr CEO of
Online, Nielsen. Fmr CMO, Nielsen. Fmr CMO, AOL.

*Leah Busque*1é% Founder, TaskRabbit.

*Marc Cenedella*iz% CEO, TheLadders.

*Stephen Cohen*1z% cofounder, Palantir.

*Gio Colella *1g% CEO, Castlight Health. Fmr CEO, RelayHealth.

*Mark Colodny*1¢% 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 Dig/Angelo*i¢% CEO, Quora. Fmr CTO, Facebook.

HOUSE_OVERSIGHT_017575
"
IMAGES-007-HOUSE_OVERSIGHT_023468.txt,"11

dead the next morning, protests have continued sporadically. But in
the financial district and areas where Sunni Muslims predominate, the
demonstrations have ended.

In Yemen, the Saudis, also working under a Gulf Cooperation
Council umbrella, have taken control of the political negotiations to
transfer power out of the hands of President Ali Abdullah Saleh,
according to two Saudi officials.

""We stayed out of the process for a while, but now we have to
intervene,"" said one official. ""It's that, or watch our southern flank
disintegrate into chaos.""

HOUSE_OVERSIGHT_023468
"
IMAGES-007-HOUSE_OVERSIGHT_024307.txt,"Table of Contents

TABLE OF CONTENTS

Commonly Asked Questions and Answers About the Annual Meeting 1
Board of Directors and Corporate Governance 5
ITEM 1—ELECTION OF DIRECTORS 8
Director Nominees 8
Continuing Directors 9
Independence Status 10
Controlled Company Status 10
Board Meetings and Committees 11
Board Leadership Structure 13
Section 16(a) Beneficial Ownership Reporting Compliance. 14
Risk Oversight 14
Compensation Committee Interlocks and Insider Participation 15
Communications by Stockholders and Other Interested Parties with the Board of Directors 15
Director Compensation 15
Executive Officers 17
Compensation Discussion and Analysis 19
Executive Summary 19
Compensation Objectives and Principles 22
Compensation Setting Process 23
Competitiveness of Our Compensation Program 24
Compensation Components 24
Compensation-Related Policies 31
Compensation and Risk 31
Tax and Accounting Implications 32
Compensation and Nominating Committee Report 33
Compensation Tables 34
Summary Compensation Table 34
Grants of Plan-Based Awards 36
Outstanding Equity Awards at 2018 Fiscal Year End 37
Option Exercises and Stock Vested 38
Potential Payments upon a Change of Control 38
CEO Pay Ratio 39
Certain Relationships and Related Party Transactions 39

HOUSE_OVERSIGHT_024307
"
IMAGES-006-HOUSE_OVERSIGHT_020528.txt,"69

a junior researcher was told not to list the think tank as her place of employment

on her visa application or it might be rejected. (To avoid this scenario, the senior
researcher reached out to a Chinese official to pave the way and the visa was issued.)
In another instance, a visa expediter was banned from doing business with the
Chinese embassy after it informed a think tank that it had landed on a list making
it difficult to get visas.

A senior Chinese official told one think-tank analyst that responsibility for reviewing
visa requests has shifted from the Ministry of Foreign Affairs to the Ministry of
Public Security, thus creating many delays and difficulties. One US think-tank scholar
reported that he has not only been advised on a number of occasions not to even
apply for a visa but also has had a planned invitation to a conference hosted by an
American company revoked because the Foreign Ministry told the company not to
invite him. Others have been granted visas only for “personal” trips, with the proviso
that they do no public speaking nor meet with anyone outside of family members or
cultural figures.

Think-tank scholars report that on several occasions, when one member of a
delegation has been in danger of not receiving a visa (or not receiving it in time),
reaching out to the Chinese Embassy or consular officials (in one case threatening to
cancel the delegation) has resulted in a favorable disposition. Two think tanks now
routinely reach out to Chinese officials before submitting applications in order to pave
the way. Nonetheless, a few think-tank analysts are concerned about being beholden
to the embassy or the consulate and the shadow such dependency casts on their ability
to continue their work. One analyst indicated that although he is asked to help other
members of the think tank with their visa issues, he does not want to be in debt to the
embassy and therefore does not offer to help proactively.

Chinese Media and Think Tanks

The Chinese media offer both opportunities and pitfalls to American think-tank
analysts. A significant part of a think-tank analyst’s job is to influence official and
public opinion—and the media, whether Chinese or Western, is an essential part of
that process. Think-tank analysts are under no illusion, however, that the Chinese
media can be trusted to present their ideas as they are delivered. As one interviewee
underscored, “The desire of Chinese media is to make Americans see things the
Chinese way—in a positive and beneficial light—and to present positive American
views to the Chinese public. You have to be prepared that the Chinese media will have
leading questions and know that they will not include critical things.” One senior
US scholar has had multiple experiences of censorship, and one case of fabricated
quotations, by Chinese newspapers. It is also apparent that Chinese journalists

Section5

HOUSE_OVERSIGHT_020528
"
IMAGES-003-HOUSE_OVERSIGHT_015164.txt,"SARAH: Come in. [Willow opens the door, walks in and sits down.]
I' m just looking over my stump speech here. It keeps changing.

WILLOW: Mon, | have to talk to you.

SARAH: Yes, dear, what’ s on your mind?

WILLOW: /Pausing/\' m... pregnant.

SARAH: Very funny.

WILLOW: Mom, I’ m not kidding.

SARAH: Willow, you’ re only fourteen years old! How could you be
pregnant? Are you sure?

WILLOW: | did the test three different times. They all said

“Positive.” | can feel changes in my body.

SARAH: This is horrible. | mean wonderful, of course. God always has
a plan. Who’ s the father?

WILLOW: /Pausing/\t' s... Track.

SARAH: What! How can that be? He’ s your brother! You had sex
with your brother?!

WILLOW: | still don’ t understand Aow | got pregnant. He borrowed
a condom from Dad’ s sock drawer.

SARAH: I’ m shocked beyond belief. When did this happen?

WILLOW: Let’ s see, the first time was--

HOUSE_OVERSIGHT_015164
"
IMAGES-012-HOUSE_OVERSIGHT_033213.txt,"From: Richard Kahn [i

Sent: 1/11/2017 11:38:08 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Peter Thiel, Trump’s Tech Pal, Explains Himself - NYTimes.com

Importance: — High

https://mobile.nytimes.com/2017/01/11/fashion/peter-thiel-donald-trump-silicon-valley-technology-
gawker.html?referer=http://www.drudgereport.com/

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue, 4th Floor
New York, NY 10022

HOUSE_OVERSIGHT_033213
"
IMAGES-006-HOUSE_OVERSIGHT_021622.txt,"|

FD-515 (Rev. 12-19-06) 6 Accomplishment Report Date Prepared

quad supervisor approval (Accomplishment must be reported and loaded into Date Loaded
please initial) ISRAA within 30 days from date of accomplishment) Date Loader's Initials

Investigative Assistance or Technique Used
1. Used, but did not help 3. Helped, substantially
2. Helped, minimally 4, Absolutely essential
For Sub. Invest. Assist. by other FO(s) indicate A, B, C, D for corresponding FO
Rate FO AT Rate FO (AT

Rate FO —sIAT.-—«<s=—séRale FO. sIAT
| rin anayst [tcp rewsup || [uco-nateack] IR victwitn coor
PenRegisters | JMENcavorvicap| NII 10 Wanted Fiyer

| BM Aircrafts. | | ;
|_| Photo Cover Griminis tne ass] |
Me Crisis Neg. Fed | | CART

Money Laundering
ELSUR/FISC| | | Search Warrant Ecrsis Neg Local| NNN Asset Fort Prog
; leRTAsst, | [| | Fort Support Proj | Support Proj

Asst.FO(s) __ KZ (7 , —, v—2.
A BOG. OD. ELSUR/T. It! Show Money
Tape Bx, jsav-irc_ | xsioTD

Eng. Tepoex |
Poo-17c | «I InfraGardiCy

Legats Asst. Tech, AgiEquip.
| [Evia. Purchase] | | BBFt.Mon.-1tc | [RB oFcicip

Phone Toll Rec
invowinfo | | [uco-Groupi | |

NonFBtLabex] | |

A. Complaint / information/ indictment F, Conviction J. Civil Rico Matters Date:

[tab.ov.exam| | [uco-croup i] |
ClFederat [CJLocat (J Intemational (Federal [Local [7] Intemational Also complete “Section G""

Complaint Date: Conviction Dates Other Civil Matters Date:

Accomplishment involves:
(check all that apply)

File Number

O
O
Bankruptcy Fraud oO
Computer Fraud/Abuse Oo
Corruption of Public Official C1

Check if Civil Rico Complaint Subject Description Code *(——_)* MOQMOT ates
Judicial Outcome. x

Amount $

Suspension: Years Months

Information Date: For 6F, G, H-Include Agency Code

indictment Date: [Felony or [1] Misdemeanor
(Plea or 0 Trial ;
B, Locate / Arrest State:_______._ Judicial District: ___ K. Administrative Sanction Date:

(CiFederal ([JLoca! [] international: oe Subject Description Code

; . G. U.S. Code Violation Type: Length:

Subject Priority: JA 4B 1c Required for sections A, B, F and J a ‘ Suspension [[] Permanent
i: Debarment oO

Locate Date: (Federal Only) r
Injunction Year Months

Arrest Date: Title Section # Counts

(2 Subject Resisted Arrest mm ---_ —_ L. Asset Seizure Date:

(J Subject Arrested was Armed Asset Forfeiture Date:
——__ __ TT CATS # Mandatory

Cc, Summons Date: Circle below one of the three asset forfeiture:
(Federat [7] Local Admin, Civil Judicial, or Criminal

Do not indicate $ value in Section D
D, Recovery / Restitution / PELP X

[]Federal [Local [1 International H. Sentence Date:
Recovery Date: Sentence Type: '

* Circle one) Date:
Gade ° y Amount § ‘In Jail; Years____.. Months. ( )
Code*_ oY ~=Amount $

Restitution Date:
(1 Court Ordered = [[] Pretrial Diversion Probation: = Years_____. Months____ Drug Code ® ;
Code*_ sv) Amount $ Fines: i Weight ________. Code
PELP Date: gus

———_—_—_—_— ‘ Do not indicate $ in Section D
Code * ¥ Amount $e 1. Disruption/Dismantlement: ~

E. Hostages(s) Released Date:___...___ . . O. Child Victim Information

. Disruption Date:

Released by: [J Terrorist []) Other Child located /identified Date: O&/goO of
Dismantiement Date:

Number of Hostages: Phivi ° D d
5 Completion of FD-515a Side 2 Mandatory =e - [)Decease

M. Acquittal/ Dismissal/ Pretrial Diversion

. Suspended; Years__._.— Months.._ N. Drug Seizures Y Date:

P, Subject Information - Required for all blocks excluding block D (Recovery/PELP), blocks E, !, Land N

2

Subject related to an LCN, Asian Organized Crime (AOC), italian Organized Cnme (IOC), Russian/Eastern European, Caribbean, or Nigerian Organized Came Group -
Complete FD-515a, Side 1 Blocks A-E mandatory, F-H as appropriate,

| Subject related to an OC/Drug organization, a VCMO Program National Gang Stralegy target group, or a VCMO Program Nalional Priority Initialive target group +
Complate FD-615a, Side 1 Blocks A-C only.

x. Additional information may be added by attaching another form or a plain sheet of paper for additional entries. Ba NET RD AIS
e See codes on reverse side. |

v Requires that an explanation be attached and loaded into ISRAA for recovery over $1 m and PELP over $5 m, disruption, dismantlement, and drug seizures.

B/E-Nn- 108062-29]

HOUSE_OVERSIGHT_021622
"
IMAGES-009-HOUSE_OVERSIGHT_027570.txt,"Time: 02/02/19 08:46:54 AM (570818814)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 8F833F98-F77A-4143-B64B-B9818A849B98

Message: Yes

Sender: e:jeeitunes@gmail.com

Time: 02/02/19 08:47:36 AM (570818856)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 94E564E5-17F3-458E-A5A1-4B55 9EFOADBD

Message: You are his only hope

Time: 02/02/19 09:50:50 AM (570822650)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: ODE16FOC-B67F-4CCF-AB98-7E8356D271AD

Message: I think u might be right

Sender: e:jeeitunes@gmail.com

Time: 02/02/19 09:51:53 AM (570822713)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 47631670-8950-4462-BCDF-CA2D4DFEE81B

Message: Im pushing, jared needs squashed

Time: 02/02/19 09:53:13 AM (570822793)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: AE30758C-4C66-45C5-9E5F-322FA920BAFF

Message: He is killing trump

Sender: e:jeeitunes@gmail.com
Time: 02/02/19 10:00:01 AM (570823201)

Flags: 1085445

HOUSE_OVERSIGHT_027570
"
TEXT-001-HOUSE_OVERSIGHT_025215.txt,"﻿From: us.gio@jpmorgan.com
To: Undisclosed recipients:; 
Subject: Eye on the Market, July 25, 2011
Sent: 7/25/2011 4:33:45 PM
Attachments: 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.



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.

 



 

Europe: Finally (!!), 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:

 

** 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

** Greece must execute on its asset sale targets, despite having little success or experience doing this in the past 

** Banks listed in the IIF 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.

 



 

In addition to execution risk in Greece, we are left with 3 other concerns.  The current EU-IMF lending facility capacity is Eur 255 bn, but we anticipate that as agreed, national parliaments will expand it to 440 bn.  First concern: while that’s 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 (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 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). 

 



 

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).  If the 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.  

 



 

The third concern: Germany as paymaster.  We are often told that Germans across both major parties are unflinching supporters of the European project, and will do whatever it takes to prevent a break-up.  The objections from members of the Bundesbank are described as lonely voices of opposition that carry no weight [a].  But how large are the costs going to be?  German politicians and voters may see current circumstances as exceptional, and that if they just agree to one more package, the problem will go away.   However, we are starting to see analyses of how costly a permanent transfer union may be for Germany.  Bernard Connolly at Hamiltonian Advisors sent me a recent paper from the Centrum fur Europaische Politik in Freiburg, which provides some clues.  They see three alternatives for the deficit countries: 

 

** massive reduction in regulations and unit labor costs to regain competitiveness

** exit from the EMU, re-introduction of national currencies

** permanent transfer union from surplus countries to deficit ones

 

On the last option, they estimate a “creditworthiness gap” in European deficit countries of Eur 108 billion in 2010.  The gap measures how much European deficit countries rely on capital inflows to fund consumption, rather than investment (which contributes to future GDP).   Germany’s share of the European surplus is around ¾, so let’s assume a pro-rata burden on Germany to maintain the transfer union.  As a result, the theoretical economic cost could be 3.3% of German GDP every year, which as shown, gets close to some expensive episodes in German history.   If German citizens were faced with costs this high, it could be a White Castle hamburger-throwing moment of national proportions.

 



 

Bottom line.  At a time when European equities are trading close to 2009 lows relative to earnings and book value, this package could result in a relief rally for European equities, particularly banks.  The chance of a disorderly default in 2011 has decreased markedly, and a process has been put in place to create more seamless transfers to areas (and banks) in need.  But the size of the transfer union fund is not big enough to allay all concerns, particularly with Spain and Italy growing at anemic levels, and there is execution risk in Greece.  

 

Recent bank stress tests conducted by the EU concluded that only Eur 2.5 billion of capital needs to be raised (70 to 80 billion sounds more reasonable to us).  And in the package announced last week, the following Orwellian clause indicates how European policymakers feel about rating agencies these days: 

 

Point 15.  We agree that reliance on external credit ratings in the EU regulatory framework should be reduced, taking into account the Commission's recent proposals in that direction, and we look forward to the Commission proposals on credit ratings agencies

 

In Europe, denial appears to be an essential ingredient to the process (See “Five Stages of Greece”, June 30, 2011).  Last week’s package is a bold step towards Federalization and the worst-case outcomes have been avoided (money market failures, bank runs, etc), but markets will remain nervous about Europe.

 

While we’re waiting: large cap growth stocks

One day, the melodramas around US and European sovereign debt will end.  While we’re waiting, one of the asset classes that looks attractive is large cap growth stocks.  As shown below (for a universe of 300 U.S. large cap growth stocks that meet certain earnings quality and stability factors), free cash flow relative to both revenues and stock prices looks good compared to the last four decades.   This is where we believe investors should be adding exposure if they are underweight versus their desired equity allocations.  This is also an asset class where active management can still provide a lot of value; the dispersion of large cap growth managers is higher than large cap core, large cap value and international equity manager dispersion.

 



 

Q2 earnings season in the US is off to a good start.  Nearly 30% of the S&P has reported, and results have generally been positive.  Earnings are beating consensus estimates by almost 4% (7.4% ex-financials), all ten sectors are beating on revenue targets, and only 7% of companies are reporting below-consensus earnings.  Given earnings expectations for 2011 at $98.50, the S&P 500 is trading at a reasonable 13.5x forward multiple.   However, y/y earnings growth expectations appear to be flattening out for both 2011 and 2012 at around 11%-12%.  While Q2 earnings are doing well so far, some company guidance for the remainder of the year has been below consensus, which would be consistent with the recent batch of reports indicating a slowdown in manufacturing and service sector surveys.

 

Michael Cembalest

Chief Investment Officer

 

Notes

[a] Bundesbank President Weidmann, in response to last week’s package: “By transferring significant risks to the support-giving countries and their taxpayers, the Euro area has taken a large step to socialising risks created by unsound government finances and macroeconomic problems. This weakens the foundations of the fiscal self-responsibility that EMU is built on”.

 

CBO    Congressional Budget Office

OMB    Office of Management and Budget

EFSF    European Financial Stability Facility

FICA    Federal Insurance Contributions Act

EU       European Union          

IMF      International Monetary Fund 

IIF        Institute of International Finance

ECB     European Central Bank

EMU    European Monetary Union

AMT    Alternative Minimum Tax 

 

A White Castle hamburger is smaller than its competitors’ offerings, measuring 2.5 inches square.

 

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-007-HOUSE_OVERSIGHT_022762.txt,"sex with anyone over the age of 14 is a class D misdemeanor calling for a
$100 fine—the law has recently been changed to TK).

In fact, the “SG” tells the police that she lied about being 18 because
otherwise she knew she would not have been admitted to the house (other
girls will say they knew this is what they had to say, nevertheless not
stopping them from saying it).

The local sex crimes prosecutor, Lana Belhalevic, interviews all the
girls and determines that the offense is solely related to prostitution—that
there are no real victims here.

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, 1s 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 cana
girl not old enough to vote be a prostitute? And yet, many girls not old
enough to vote are 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

HOUSE_OVERSIGHT_022762
"
IMAGES-004-HOUSE_OVERSIGHT_017561.txt,"will.i.am

will.i.am, a multi-faceted entertainer and creative innovator,
is a seven-time Grammy Award winner. Known for his

work with The Black Eyed Peas, who have sold 31 million
albums and 58 million singles worldwide, he also works

with some of the industry’s biggest names including
Michael Jackson, Rihanna, Usher, Nicki Minaj, Britney
Spears, David Guetta, and film composer Hans Zimmer.

Frontman and founder of The Black Eyed Peas
will.i.am has released two songs from his upcoming solo
cd, #willpower on Interscope Records. The first two singles
from the cd released in 2012 are: “T.H.E (The Hardest Ever),”
featuring Mick Jagger and Jennifer Lopez, and number one
hit song in the UK, “This is Love” featuring Eva Simons.

His songs and imagery have entertained and inspired
millions, and the power of his words resonated deeply in his
song “Yes We Can” that mobilized an entire generation to
action during the 2008 presidential campaign. Demonstrating
that music, brands and causes can be intertwined to entertain
and inform, “Yes We Can” garnered an Emmy Award for
“Best New Approaches in Daytime Entertainment.”

In 2011, will.i.am executive produced and starred in
his first prime time TV special “i.am FIRST: Science is Rock
and Roll” to get young people excited about math and science
education, as well as technology and science-related careers.
Earlier this year he starred as a Coach on the hit reality TV
show, “The Voice” UK edition on BBC One. While in London,
will.i.am was a featured performer in “Concert for The Queen”
in celebration of Queen Elizabeth II’s Diamond Jubilee.

As a musician, producer, director and advocate
for education, he is an enthusiastic user of technologies in
both his professional and personal lives. In recognition of
his ability to harness technology to enhance entertainment,
creativity and communication, Intel Corporation appointed
will as Director of Creative Innovation in 2011.

In collaboration with The Coca-Cola Company,
will.i.am is on a mission to elevate the importance of recycling
and to turn waste into a valued commodity through his
EKOCYCLE brand. Launched in July, 2012, EKOCYCLE
will give consumers more stylish options when shopping
for fashion apparel, accessories and sporting goods that
incorporate recycled plastic bottles and aluminum cans.

With a commitment to inspire kids to stay in
school and go to college to become the leaders of tomorrow,
will.i.am advocates regarding the importance and power of
a good education through his i.am angel foundation’s i.am
scholarship. The i.am scholarship provides future leaders
and innovators with comprehensive financial assistance to
complete post-secondary education. The i.am angel foundation
is also active in the U.K. through a STEM education and
computer skills joint initiative with The Prince’s Trust.

Recognized and honored by numerous industry
organizations, will.i.am is the recipient of multiple Grammy
Awards, a Latin Grammy Award, an Emmy Award, two
NAACP Image Awards, a VH1 Do Something Award, the
BMI President’s Award and a 2008 Webby Award.

HOUSE_OVERSIGHT_017561
"
IMAGES-011-HOUSE_OVERSIGHT_031870.txt,"37

primary sea lane to India. As such, Gibraltar and the Suez were
crucial. The importance of the Suez was such that the presence of a
hostile, major naval force in the eastern Mediterranean represented a
direct threat to British interests. It followed that defeating the
Ottoman Empire during World War I and breaking its residual naval
power was critical. The British, as was shown at Gallipoli, lacked the
resources to break the Ottoman Empire by main force. They resorted
to a series of alliances with local forces to undermine the Ottomans.
One was an alliance with Bedouin tribes in the Arabian Peninsula;
others involved covert agreements with anti-Turkish, Arab interests
from the Levant to the Persian Gulf. A third, minor thrust was
aligning with Jewish interests globally, particularly those interested in
the refounding of Israel. Britain had little interest in this goal, but saw
such discussions as part of the process of destabilizing the Ottomans.
The strategy worked. Under an agreement with France, the Ottoman
province of Syria was divided into two parts on a line roughly
running east-west between the sea and Mount Hermon. The northern
part was given to France and divided into Lebanon and a rump Syria
entity. The southern part was given to Britain and was called
Palestine, after the Ottoman administrative district Filistina. Given
the complex politics of the Arabian Peninsula, the British had to find
a home for a group of Hashemites, which they located on the east
bank of the Jordan River and designated, for want of a better name,
the Trans-Jordan — the other side of the Jordan. Palestine looked
very much like traditional Israel.

The ideological foundations of Zionism are not our concern here, nor
are the pre- and post-World War II migrations of Jews, although
those are certainly critical. What is important for purposes of this
analysis are two things: First, the British emerged economically and
militarily crippled from World War II and unable to retain their
global empire, Palestine included. Second, the two global powers that

HOUSE_OVERSIGHT_031870
"
IMAGES-007-HOUSE_OVERSIGHT_024313.txt,"Table of Contents
BOARD OF DIRECTORS AND CORPORATE GOVERNANCE

Our business and affairs are managed under the direction of our Board, which is composed of five directors. Our certificate of incorporation
provides that the authorized number of directors may be changed only by resolution of our Board. Our certificate also provides that our Board will be
divided into three classes of directors, with the classes as nearly equal in number as possible. At each annual meeting of stockholders, a class of directors
will be elected for a three-year term to succeed the class whose term is then expiring.

The following table sets forth the director class, name, age as of April 23, 2019, and other information for each member of our board of

directors:

EXPIRATION

CURRENT OF TERM
DIRECTOR TERM FOR WHICH

NAME CLASS AGE POSITION SINCE EXPIRES NOMINATED
Gregory Sullivan II 60 Director 2017 2019 2022
Dan Quayle II 72 Director 2017 2019 2022
Michael Maroone Ill 65 Lead Director 2017 2020
Ernest Garcia III I 36 President, CEO and Chairman 2017 2021
Ira Platt I 55 Director 2017 2021

We believe that in order for our Board to effectively guide us to long-term sustainable, dependable performance, it should be composed of
individuals with sophistication and experience in the many disciplines that impact our business. To best serve our stockholders, we seek to have a board
that, as a whole, is competent in key corporate disciplines, including accounting and financial acumen, business judgment, crisis management, governance,
leadership, people management, risk management, social responsibility and reputational issues, and strategy and strategic planning. Additionally, the Board
desires to have specific knowledge related to our industry, such as expertise in automotive retail and consumer finance.

The Compensation and Nominating Committee believes that all directors must, at a minimum, meet the criteria set forth in the Board’s code of
conduct and the corporate governance guidelines, which specify, among other things, that the Compensation and Nominating Committee will consider
criteria such as independence, diversity, age, skills, and experience in the context of the needs of the Board. In addressing issues of diversity in particular,
the Compensation and Nominating Committee considers a nominee’s differences in viewpoint, professional experience, background, education, skill, age,
race, gender, and national origin. The Compensation and Nominating Committee believes that diversity of backgrounds and viewpoints is a key attribute for
a director nominee. Accordingly, to improve director diversity and best serve our stockholders, the Compensation and Nominating Committee adopted a
policy in 2019 to request that any search firm that it engages include women and minority candidates in the initial list from which the committee selects
director candidates. The Compensation and Nominating Committee also will consider a combination of factors for each director, including whether the
nominee possesses:

-5-

HOUSE_OVERSIGHT_024313
"
IMAGES-012-HOUSE_OVERSIGHT_033207.txt,"From: David Fisze!

Sent: 12/15/2016 8:37:33 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Trump Tells Tech Chiefs He Will Foster Innovation - The Wall Street Journal.

Importance: — High

This is pretty cool, Palantir was the only private company invited to yesterday's tech summit. That seems like a
huge change post election and bigger oppty. Let's hang in PB.

I thought you would be interested in the following story from The Wall Street Journal.
Trump Tells Tech Chiefs He Will Foster Innovation

http://www.wsj.com/articles/top-tech-execs-to-meet-trump-to-talk-jobs-regulations-148 1724004

Download the Wall Street Journal app here: WSJ.

This e-mail and any file(s) transmitted with it may contain confidential and/or privileged information. Nothing contained in this e-
mail and/or any file(s) transmitted with it constitutes a solicitation or an offer to buy or sell any securities. Use or disclosure of this e-
mail or any such files by anyone other than a designated addressee is unauthorized. If you are not an intended recipient (or have
received this email in error), please notify the sender immediately and delete this e-mail without making a copy. If this e-mail is
misdirected, Honeycomb Asset Management, L.P. and its affiliates do not waive confidentiality or any privilege.

HOUSE_OVERSIGHT_033207
"
IMAGES-003-HOUSE_OVERSIGHT_015170.txt,"Y' know, Sarah, if we get elected, | was hoping that our little tryst in
Washington could happen again, perhaps this time in the Oval Office.

PALIN: Thanks but no thanks.

McCAIN: | remember you were so pregnant then.

PALIN: And | remember exactly what you said. “Let me baptize your
fetus with some maverick juice.” How romantic. But you were lucky | was
already pregnant, because it would not have happened otherwise, since, as
you know, I’ m against birth control. Raising children is performing a task
that is from God. And | believe that life begins before conception.

McCAIN: You and the Bush administration. They also consider birth
control to be a form of abortion. The Health and Human Services
Department is secretly trying to redefine contraception--the Pill, IUDs, you
name it—redefine as abortion. So this federal agency could eliminate
many state laws. Pharmacists could refuse to supply women with birth
control devices. Insurance companies wouldn’ t cover contraception. Rape
victims wouldn’ t have access to the morning-after pill. You have your
beliefs and | respect them, but I’ m trying to distance myself from George
Bush.

PALIN: Except for his speechwriters.

HOUSE_OVERSIGHT_015170
"
IMAGES-001-HOUSE_OVERSIGHT_010821.txt,"oO owt nN MO bP WN

NNNNNN FP BP RP BP BPP BP RP Be
OP WHF OHM MOAN AU PWN RO

329

MR. SCAROLA: I'm giving you notice as to
what you can do to do your homework. Okay?
They directly conflict with the witness's

assertion that the flight logs exonerate him.
In fact --

MR. SCOTT: Wait a minute.

MR. SCAROLA: -- the flight logs -- the
flight logs corroborate Virginia Roberts’
assertions.

MR. SCOTT: And I thank you very much for
that explanation and we look forward to
resuming this at the appropriate time and
responding to that.

THE WITNESS: And that is a false
statement.

MR. SCOTT: Thank you.

VIDEOGRAPHER: Going off the record. The
time is approximately 12:26 p.m.

(The proceedings ADJOURNED at 12:26 p.m.)

CERTIFICATE OF REPORTER

STATE OF FLORIDA
COUNTY OF BROWARD

I, KIMBERLY FONTALVO, Registered
Professional Reporter, do hereby certify that I
was authorized to and did stenographically report
the foregoing videotape deposition of ALAN M.
DERSHOWITZ; pages through 145; that a review of
the transcript was requested; and that the
transcript is a true record of my stenographic
notes.

I] FURTHER CERTIFY that I am nota
relative, employee, attorney, or counsel of any
of the parties, nor am I a relative or employee
of any of the parties' attorneys or counsel
connected with the action, nor am I financially
interested in the action.

Dated this 16th day of October, 2015.

KIMBERLY FONTALVO, RPR, FPR, CLR

CERTIFICATE OF OATH

STATE OF FLORIDA
COUNTY OF BROWARD

I, the undersigned authority, certify
that ALAN M. DERSHOWITZ personally appeared
before me and was duly sworn on the 16th day of
October, 2015.

Signed this 16th day of Octaber, 2015.

2 hz “ft i e
iy, hag eld s
IMBERLY FONTALVO, RPR, FPR, CLR

Notary Public, State of Florida
My Commission No. EE 161994
Expires: 2/01/16

October 16, 2015

COLE, SCOTT & KISSANE, P.A.

Dadceland Centre II - Suite 1400

9150 South Dadeland Boulevard

Miami, Florida 33156

BY: THOMAS EMERSON SCOTT, JR., ESQ.
Re: Edwards v. Dershowitz

Please take notice that on the 16th day of October,
2015, you gave your deposition in the above cause.
At that time, you did not waive your signature,

The above-addressed attomey has ordered a copy of
this transcript and will make arrangements with you
to read their copy. Please execute the Errata

Sheet, which can be found at the back of the
transcript, and have it returned to us for
distribution to all parties.

If you do not read and sign the deposition within a
reasonable amount of time, the original, which has
already been forwarded to the ordering attorney, may
be filed with the Clerk of the Court.

If you wish to waive your signature now, please sign
your name in the blank at the bottom of this letter
and return to the address listed below.

Very truly yours,

KIMBERLY FONTALVO, RPR, FPR, CLR
Phipps Reporting, Inc.

1615 Forutn Place, Suite 500

West Palm Beach, Florida 33401

{ do hereby waive my signature.

ALAN M. DERSHOWITZ

39 (Pages 329 to 332)

www.phippsreporting.com
(888) 811-3408

HOUSE_OVERSIGHT_010821
"
IMAGES-008-HOUSE_OVERSIGHT_026227.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_026227
"
IMAGES-005-HOUSE_OVERSIGHT_019105.txt,"From: Darren indyke

Sent: 8/17/2016 3:27:07 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fwd: Privileged and Confidential - Fwd: JAMES PATTERSON NEW BOOK TELLING FEDS COVER UP OF BILLIONAIRE

JEFF EPSTEIN CHILD RAPES RELEASE DATE OCT 10 2016 STEVEN HOFFENBERG IS ON THE BOOK WRITING TEAM !!!!

Attachments: 2016.08.16 - Draft Letter to Eric Rayman re Epstein Book re Steven Hoffe....docx; Untitled attachment 110187.htm;
Ex. A - 2016.08.11 - Hoffenberg Email re Being on Book Writing Team.pdf; Untitled attachment 110190.htm; Ex. B -
1997.03.05 - Sentencing Opinion.pdf; Untitled attachment 110193.htm; Ex. C - 2014.12.16 - Consent Decree re NY
Post.pdf; Untitled attachment 110196.htm; Ex. D - 2016.07.05 - Order Dismissing Case.pdf; Untitled attachment
110199.htm

Importance: — High

DARREN K. INDYKE
DARREN K. INDYKE, PLLC
575 Lexington Avenue, 4th Floor
New York, New York 10022
Telephone:
Telecopigr:
Mobile:

Be ee ee ee ee ee ee ee ee ee ee ee ee ee ee
ig 2s 2S 2g 2S I 2k 2s 2 2s 2g 2k

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 - © 2016 Darren K.

Indyke, PLLC — All rights reserved.

Bee eee eee ee ee ee ee ee ee i ee ee ee
De ee ee ee ee

Begin forwarded message:

From: ""Michael, Charles"" ye

HOUSE_OVERSIGHT_019105
"
IMAGES-002-HOUSE_OVERSIGHT_013148.txt,"232 12 The Engineering and Development of Ethics

Tweets and Youtube comments have their place in the cosmos, but they probably aren’t ideal
in terms of helping humanity to form a coherent volition of some sort, suitable for providing an
AGI with goal system guidance.

A description of communication at the opposite end of the spectrum is presented in Adam
Kahane and Peter Senge’s excellent book Solving Tough Problems [IkS04], which describes a
methodology that has been used to reconcile deeply conflicting views in some very tricky real-
world situations (e.g. helping to peacefully end apartheid in South Africa).

One of the core ideas of the methodology is to have people with very different views explore
different possible future scenarios together, in great detail — in cognitive psychology terms, a
collective generation of hypothetical episodic knowledge. This has multiple benefits, including

e emotional bonds and mutual understanding are built in the process of collaboratively ex-
ploring the scenarios

e the focus on concrete situations helps to break through some of the counterproductive
abstract ideas that people (on both sides of any dichotomy) may have formed

® emergence of conceptual blends that might never have arisen only from people with a single
point of view

The result of such a process, when successful, is not an ""average"" of the participants views, but
more like a ""conceptual blend"" of their perspectives.

According to conceptual blending, which some hypothesize to be the core algorithm of cre-
ativity [FT02], new concepts are formed by combining key aspects of existing concepts — but
doing so judiciously, carefully choosing which aspects to retain, so as to obtain a high-quality
and useful and interesting new whole.

A blend is a compact entity that is similar to each of the entities blended, capturing their
""essences"" but also possessing its own, novel holistic integrity.... But in the case of blending
different peoples’ world-views to form something new that everybody is going to have to live
with (as in the case of finding a peaceful path beyond apartheid for South Africa, or arriving
at. a humanity-wide CBV to use to guide an AGI goal system), the trick is that everybody has
to agree that enough of the essence of their own view has been captured!

This leads to the question of how to foster deep conceptual blending of diverse and divergent
human perspectives, on a global scale. One possible answer is the creation of appropriate Global
Brain oriented technologies — but moving away from technologies like Twitter that focus on quick
and simple exchanges of small thoughts within affinity groups. On the face of it, it would seem
what’s needed is just the opposite — long and deep exchanges of big concepts and deep feelings
between individuals with radically different perspectives who would not commonly associate
with each other. Building and effectively popularizing Internet technologies capable to foster
this kind of interaction — quickly enough to be helpful with guiding the goal systems of the first
highly powerful AGIs — seems a significant, though fascinating, challenge.

Relationship with Coherent Extrapolated Volition

The relation between this approach and CEV is interesting to contemplate. CEV has been
loosely described as follows:

""In poetic terms, our coherent extrapolated volition is our wish if we knew more, thought faster,
were more the people we wished we were, had grown up farther together; where the extrapolation
converges rather than diverges, where our wishes cohere rather than interfere; extrapolated as

HOUSE_OVERSIGHT_013148
"
IMAGES-010-HOUSE_OVERSIGHT_028968.txt,"From: Roy Black

Sent: 4/28/2016 4:47:41 PM

To: jeffrey E. [jeevacation@gmail.com]; Alan M. Dershowitz Re. Jack Goldberger
PCs

Subject: RE: Reuters / lawsuit against Jeffrey Epstein

Importance: — High

Privileged - Redacted

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

a Forwarded message ----------

From: Martin Weinberg i

Date: Thu, Apr 28, 2016 at 12:20 PM
Subject: Fwd: Reuters / lawsuit against Jeffrey Epstein
To: Jeff Epstein <jeevacation@gmail.com>

| Privileged - Redacted |

Loin aieiiie RATS N eR iN Te emia R aii mN Ri RRR OR iN Ta Rees eaie ater eieNeTereeA il

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 is] and I’m available any time. I also just tried your cell phone.

Thank you in advance.

David Ingram

HOUSE_OVERSIGHT_028968
"
IMAGES-005-HOUSE_OVERSIGHT_019663.txt,"The Keys to the Kingdom Are Missing | 175

rov, had spent almost six months negotiating with Hillary Clinton’s
State Department a one-on-one summit between President Obama
and President Putin. Not only would this summit be a diplomatic
coup for Russia, but also it would add to Putin’s personal credibil-
ity in advance of the Olympic Games in Russia. In mid-June, after
USS. intelligence reported to Obama’s national security adviser that
Snowden was in contact with Russian officials in Hong Kong, the
State Department explicitly told Lavrov that allowing Snowden
to defect to Russia would be viewed by President Obama as a bla-
tantly unfriendly act. As such, it could (and did) lead to the cancella-
tion of the planned summit. Putin knew the downside of admitting
Snowden.

But if Snowden had a large archive of files containing the sources
of the NSA’s electronic interceptions, as Snowden claimed he had in
Hong Kong, there was an enormous potential intelligence upside.
Putin had to choose between the loss of an Obama summit and
an intelligence coup. Would Putin have made the choice he did if
Snowden had destroyed, or refused to share, the stolen data?

© “No country, not even the United States, would grant sanctuary ©
to an intelligence defector who refused to be cooperative,” answered
a former CIA officer who had spent a decade dealing with Russian
intelligence defectors. “That’s not how it works.” If so, it seems plau-
sible to believe that, as Kucherena said, the documents Snowden
brought to Russia explain why Russia exfiltrated him from Hong
Kong and provided him with a safe haven.

The Quickly Changing Narrative

Three weeks after Kucherena’s appearance on Shevardnadze’s show,
on October 17, Snowden had his first interview exchange with a
journalist since his arrival in Russia. It was over the Internet with
James Risen of The New York Times, as noted earlier. Snowden now
asserted a very different narrative. The subsequent front-page story,
which carried the headline “Snowden Says He Took No Secret Files
to Russia,” reported that Snowden claimed he gave all his documents
to journalists in Hong Kong and brought none of them to Russia. He

| | Epst_9780451494566_2p_all_r1.z.indd 175 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019663
"
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HOUSE_OVERSIGHT_014141
"
TEXT-001-HOUSE_OVERSIGHT_030618.txt,"From: Darren Indyke 
Sent: 10/19/2013 12:27:41 AM 
To: Fred Haddad 
CC: Tonja Haddad Coleman Jeffrey Epstein [jeevacation@gmail.com]; Debbie Fein 
Subject: Re: Request for comment from The Mail on Sunday with noon ET Saturday deadline re Mr Bradley Edwards vs Mr 
Jeffrey Epstein 
Privileged - Redacted 
Sent from my iPhone 
On Oct 18, 2013, at 8:10 PM, Fred Haddad______________________wrote: 
Privileged - Redacted 
Sent from my iPhone 
On Oct 18, 2013, at 6:38 PM, Tonja Haddad Coleman < > wrote: 
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 030618 
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 030619 
"
IMAGES-002-HOUSE_OVERSIGHT_012530.txt,"sor & Associates

Storage and Traseription, tne,

Page 16

resrasaee cake

1 give a massage?
2 A. If it wasn't | | then I believe P| :
3 maybe one other person I don't know the name of. Just -- é

And PY I spoke to a time

I mean it was mostly |

or two.

6 O. Okay. Now when you would go over to

Jeffrey's house after getting a phone call, you would go

DAMA Sah ere rial eee DNS

and you'd go to give him a massage, right?

A. Yes.

10 Q. And occasionally would there be more than a

massage that occurred?

12 A. It happened a few times.

13 Q. Okay. And the few times that it happened,

though, it was very sporadic and it was nothing that was

15 planned?

ARTES aT

16 Bes No way.

Q.

It just occurred?

ape (ssi: beer erereraieysei di

18 A. Right.

Q. So it wasn't like there was a phone call,

you know, ""Today we want you to come over and do more

than just a massage with Jeffrey""?

OG A. Right.

23 Q. When anything more occurred you'd be over

there and it would be totally voluntary on your part?

25 A. Yes; definitely consensual,

SAV TL TOSENN BT aiTG he Ae EPO TE Hane Pe We eee Ur TN EC ARNTRE ET CRT NY CTE PY 2 TS Ae OTN EE LYASE TLE YEN or Teale ECO eee

HOUSE_OVERSIGHT_012530
"
IMAGES-001-HOUSE_OVERSIGHT_011281.txt,"Regards,

Amanda

Amanda Ens

Director | Global Equities

Bank of America Merrill Lynch

Merrill Lynch, Pierce, Fenner & Smith Incorporated
One Bryant Park | 5th Floor | New York, NY 10036

Phone: Mobil: iii

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 Buyai110% 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

HOUSE_OVERSIGHT_011281
"
IMAGES-007-HOUSE_OVERSIGHT_024475.txt,"5. SUMMARY FINANCIAL DATA

The following summary historical pro forma and projected financial data should be read in conjunction
with the financial statements and “Management's Discussion and Analysis of KLC’s Pro Forma Results of
Operations” presented elsewhere in this Memorandum. See also “Non-GAAP Financial Measures”
elsewhere in this Memorandum for a discussion of the derivation and limitations of EBITDA, Adjusted
EBITDA and Adjusted EBITDAR. The historical information is pro forma for the effects of our acquisition
of KinderCare in January 2005 and for the separation of our business into operating (KLC OpCo) and
property (KLC PropCo) in November 2005, as if those transactions and related financing had occurred on
January 1, 2004. The rental income received by KLC PropCo in all periods presented is primarily
comprised of lease payments from KLC OpCo.

Our pro forma results for KLC were not prepared in conformity with Article 11 of Regulation S-X of the
SEC (which would not, among other limitations, permit a 2004 pro forma presentation after completion of
our 2005 financial statements). In addition, by presenting a pro forma comparison, this section does not
include a comparison of KLC’s historical GAAP consolidated operating results or segment information that
would be required by Item 3-03 of Regulation S-X of the SEC. In addition, the non-GAAP financial
information presented below does not comply with Item 10(e) of Regulation S-K or Regulation G of the
SEC. For further information, please see KLC's GAAP financial statements and those of KinderCare
included in this Memorandum.

The pro forma presentation below is not shown with adjustments to historical financial statements.
Instead, it is based on a “ground up” combination of corporate level expenditures (overhead and capital
expenditures) and internal financial statements derived from a center-by-center build up of KLC’s results.
The primary reasons for the presentation based on internal reports are different fiscal year ends and
expense classification between KLC and KinderCare.

Projected results presented below are based on assumptions management believes to be reasonable, but
which are inherently uncertain and may not be realized. For a discussion of the assumptions, see “The
Operating Company (KLC OpCo) — Summary Financial Information and Projections Discussion” and “The
Real Estate Company (KLC PropCo) — Summary Financial Information and Projections Discussion.” Our
ability to perform as projected depends on a number of variables that cannot be predicted with certainty
and our performance could be adversely affected by a number of factors, including those described in
“Risk Factors” elsewhere in this Memorandum. See also “Forward-Looking Statements.”

KLC Consolidated Historical Pro Forma and Projected Financial Summary

Fiscal Year Ended December 31,

($ in millions) 2004PF' 2005PF' 2006P 2007P

OPERATIONAL DATA:

Revenue $1,442.2 $1,477.7 $1,557.8 $1,661.0
Revenue Growth 2.5% 5.4% 6.6%
Gross Profit $329.6 $340.7 $387.0 $421.4
Adjusted EBITDA’ $231.4 $238.0 $249.7 $272.6
Adjusted EBITDA Margin 16.0% 16.1% 16.0% 16.4%
Adjusted EBITDAR $344.5 $359.1 $363.1 $387.7
Adjusted EBJTDAR Margin 23.9% 24.3% 23.3% 23.3%

OTHER FINANCIAL DATA:
Interest Expense 89.9 89.9 89.9 89.5
Capital Expenditures 70.6 83.1 69.9 60.2

42

HOUSE_OVERSIGHT_024475
"
IMAGES-012-HOUSE_OVERSIGHT_033561.txt,"From: SC

Sent: 1/21/2014 10:51:27 PM
To: jeevacation@gmail.com
Subject: Fwd: Why Palm Beach, Florida Is The 'New Greenwich' For Wall Streeters

aiataetal Original Message-----

From: BRYAN SUBOTNICK </>

To: es: Subotnick Stuart (MM; ;: prosperi paul
ee

>
Sent: Tue, Jan 21, 2014 4:35 pm
Subject: why Palm Beach, Florida Is The 'New Greenwich’ For Wall Streeters

FINANCE

why Palm Beach, Florida Is The ""New Greenwich’ For wall Streeters

JACQUELINE DETWILER, DUJOUR
JAN. 21, 2014, 1:18 PM

Neilson Barnard/Getty Images
The Palm Beach finance crowd can paddleboard whenever they please.

Behind a semicircular brick drive and a lawn as manicured as a putting green sits a 30,000-square-foot
masterpiece of Italian Renaissance architecture called Casa Nana.

John Porter, a real estate associate for Corcoran who oversees some of the largest sales in Palm Beach
County, Florida, points out the spiral staircase, built by famed 1920s architect Addison Mizner for the
founder of the National Tea Company. “This home went for $30.2 million in 2003; today that sum wouldn’t
be in the top 25 highest prices” of houses for sale in this area, Porter says. “Palm Beach real estate
has gone from nothing going on to nothing left to sell.”

Porter is giving me a tour of the so-called Billionaire’s Row, a stretch of South Ocean Boulevard on the
island of Palm Beach that is bordered by some of the highest hedges I’ve ever seen. Through gaps in the
greenery appear stone fountains, elephant statues, pools the size of tennis complexes (next to actual
tennis complexes), and more clay roofs than one could count. It’s a monumental display of wealth, and it
is rapidly expanding, not just here but in Delray Beach, Jupiter, Palm Beach Gardens and Boca Raton, as
money pours out of the Northeast Cand in some cases, from as far as London and Singapore) and into this
already wealthy section of southeast Florida. Approximately 70 hedge and private equity funds are now
headquartered here, many of which have set up shop in the last two years, jacking up home prices and
spurring a countywide initiative to become, as some have said, “the new Greenwich.”

For hedge fund managers who might normally be inclined toward Westchester or Connecticut, the allure of
South Florida is as plain as grits on toast. The homes are sprawling; the Intracoastal waterway is a
yachter’s paradise. It has a glittering social scene. During high season—October through March-there
might be several fundraisers on any given night. Perhaps the key factor, however: In Florida, there are
no individual income taxes, no estate taxes and no capital gains taxes. A hedge fund manager reporting $1
million in income can expect to pay only the federal government, whereas his counterpart living in
Connecticut pays that plus an extra $67,000. And if the poor schmuck were still in New York City? He’d
better be ready to fork over $104,300.

As for why all of this is happening now, when Florida has long been a sunny tax haven, so to speak,
financiers point to the upcoming application of Section 457A of the Internal Revenue Code. Before 457A
was enacted, certain fees and related earnings could grow tax deferred in offshore accounts for up to ten
years. But now, according to the section, hedge fund managers will need to funnel all of the fees that
were deferred before 2009 and their related earnings back into the U.S. by 2017. If a manager lives in

HOUSE_OVERSIGHT_033561
"
TEXT-001-HOUSE_OVERSIGHT_023102.txt,"﻿White Collar Titan Reid Weingarten on Juries Clients and the Scariest Federal Prosecutor...
http://www.litigationdaily.com/printerfriendly/id=1202736534962
Page 1 of 5
9/8/2015
NOT FOR REPRINT
Click to Print or Select 'Print' in your browser menu to print this document.
Page printed from: Litigation Daily
White Collar Titan Reid Weingarten on
Juries, Clients and the Scariest Federal
Prosecutors
Jenna Greene, The Litigation Daily
September 4, 2015
Hope you never have to call Reid Weingarten. Because if you do, it means you’re in a world
of trouble.
The Steptoe & Johnson LLP partner is one of the country’s preeminent white collar defense
lawyers. His clients have included former WorldCom CEO Bernard Ebbers, former Enron
chief accounting officer Richard Causey, former Tyco general counsel Mark Belnick and film
director Roman Polanski, as well as Goldman Sachs CEO Lloyd Blankfein.
But if you do have to call him, here’s a bonus: he’s one of the most
interesting, engaging lawyers you’ll ever meet.
Weingarten spoke at length with the Litigation Daily about his
practice—what it means when he wants the “smart jurors,” what he
says to prosecutors in their offices to convince them not to bring a case,
how he and close friend Eric Holder Jr. years ago started a foundation
that has helped thousands of juvenile offenders and at-risk teens.
The interview has been edited for clarity and length.
Lit Daily: A corporate executive recently told me he thought the best
lawyers are as much psychologists as legal experts. Do you agree?
Reid Weingarten: Yes, yes, yes. The ratio is probably two-thirds lawyer, one-third shrink.
There are two distinct parts to my practice—the New York piece, largely CEOs and CFOs,
Wall Street guys, hedge fund guys—and the D.C. piece, largely but not exclusively public
official types and people who deal with public officials.
These are all big-ego, extraordinarily successful people who find themselves dramatically at
odds with Uncle Sam, because typically people don’t come to me unless the Justice
Department wants to put them in prison for a long time and take all their money.
White Collar Titan Reid Weingarten on Juries Clients and the Scariest Federal Prosecutor...
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Sometimes their reaction is denial, sometimes shock and horror, sometimes anger, but it’s
always dramatic. The mission at a minimum is to get the client to understand what’s
happening so that he can be effective for me, in terms of my defending him.
LD: Have you ever declined to represent someone because you were so appalled by what
they did?
RW: At this point, I’m in the fortunate position of turning down more cases than I take. I turn
down cases for many reasons, though it’s not so much that I’m appalled by the behavior.
The way I look at it is, do I bring value? Is there something about me representing the
individual that adds something, as opposed to every other lawyer in town? I think if I halted,
or I was so shocked or appalled or dismayed by the conduct that I’d pull my punches, I’d
know that.
I break bread with the would-be client. If there’s a visceral feel, either overtly or covertly, that
I’m not going to want to spend time with him or her, it all factors in. There are often a variety
of factors that cause me to take seriously the potential of the representation, and then I turn
it down.
LD: Are conflicts much of an issue?
RW: Steptoe & Johnson is a big firm, but it’s not one of the megafirms. There have probably
been a dozen significant matters I got conflicted out of because of Steptoe’s other
representations. But I have colleagues who work at much bigger firms who are constantly
getting conflicted out of representations.
I represented the CEO of Goldman Sachs, and Goldman intersects with everyone in the
world. If I had nothing but Goldman-like representations, that would be an issue. But if you
represent Jesse Jackson Jr. or [other] public officials, as I do, the potential for conflicts is
significantly less.
LD: What agency is most likely to strike fear in the heart of defendants?
RW: The Southern District of New York is the elite prosecutor’s office in the country. I don’t
think you’d get much dispute there. They’re aggressive, they’re smart, they have this
enormous home court advantage. Right after them, there are several very fine, very
aggressive, very talented U.S. attorneys offices like Chicago, Boston, EDVA and certainly
the District of Columbia. And you can go to Topeka, Kansas, or Burlington, Vermont, and
find a federal prosecutor who is very smart, has a good case and is talented in court.
In the Justice Department itself, there’s the Criminal Division, and the two litigating
sections—the public integrity section, where I was for 10 years, and the fraud section.
They’ve had their ups and downs. As a defense attorney dealing with both sections
regularly, you can have your hands full with either.
LD: Some of the people you’ve represented have been so high-profile. How much of a
challenge is jury selection, and how do you handle it?
RW: By way of example, in my most recent trial I went down to New Orleans. I represented
the former head of exploration for BP, who was accused of lying to Congress about how
White Collar Titan Reid Weingarten on Juries Clients and the Scariest Federal Prosecutor...
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much oil was coming out of the hole after the explosion. BP had pleaded guilty to the very
same conduct and paid $4 billion. That was not a positive piece.
I was told by everybody that BP was loathed in New Orleans. So now I have to pick a jury in
New Orleans for the very same conduct the company pleaded guilty to. And BP had paid a
zillion dollars to every fisherman and stripper in New Orleans who claimed the spill
prevented them from earning a living. But now, BP was getting pissed off that they were
getting ripped off, and were pulling back. In addition to being hated for killing all the pelicans
and ruining tourism and fishing, now they’re pulling back on their largesse.
So I have to pick a jury. We had all the consultants you can imagine. The common wisdom
was, don’t pick anybody close to the gulf, because anyone close to the explosion will hate
BP, and don’t take African-Americans because they hate fancy white lawyers from
Washington, blah blah blah.
I picked a jury and I did exactly the opposite, because my gut was that a sophisticated
person near the water who is familiar with the industry will appreciate how difficult it is to drill
these wells. If you have 100 deep sea wells in the gulf, every once in a while, you’re going to
have an accident.
And there’s no reason to assume that the rest of the population, no matter what their
background or color, wouldn’t strive to be fair. I also thought I had the upper hand in that I
didn’t think my client was guilty of anything, so I went against the grain.
You have standard thinking among most defense counsel on jury selection, and this is an
instance where I threw it out, and the jury came back in about two seconds and acquitted. I
was lucky and right.
It’s interesting to see who wants the smart jurors. Sometimes prosecutors want the smart
jurors, sometimes I want the smart jurors. That is an indication of who thinks they have the
righteous case. When prosecutors are striking all the lawyers and accountants and collegeeducated
people, and—in New York City this happens—they want doormen and bus drivers,
what they want is to rely on visceral hatred for the target and also a visceral reliance on
Uncle Sam, as opposed to the facts.
When that happens, I want to blow my brains out, because that’s not how prosecutors
should behave. Prosecutors always should have the righteous case, and it should only be
crafty defense attorneys who want to obscure the facts. When I want the smart jurors
because I think I have a righteous case, that case never should have been brought.
These days I find that to be the case many times.
LD: How do you prepare for court? Do you rehearse what you’re going to say?
RW: I can’t prepare that way. There are clients who say, ""I want to hear your opening before
you make it."" I say, ""Get another lawyer.""
This is not good or bad, it’s just Reid. I can’t say the same thing twice, and I cannot read a
speech. It’s not how I work with information.
White Collar Titan Reid Weingarten on Juries Clients and the Scariest Federal Prosecutor...
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If I think there’s a real likelihood there’s going to be a trial, I’ll make a file for opening, a file
for closing, a file for putting the client on, and I’ll make a cross-examination file for the snitch
or snitches. If I’m taking a walk or kayaking in the North Atlantic or sleeping and have a
thought, I’ll throw notes in there. Two days before the opening, I’ll go through the notes.
I’ll have it largely in my head. I used to have a chocolate Lab I’d walk in the woods behind
my house. I’d talk to myself, and I’d talk to Emma the chocolate Lab, and we’d try things and
I’d practice my opening with her, but only with her.
The notes I toss in those files end up being what I do in court.
LD: You’ve been described as “almost constitutionally incapable of settling a case.” Do you
think that’s true?
RW: No. I’ve had a lot of trials, but the great majority of my advocacy is done in prosecutors’
offices. I’ll say one or two things. One is that ‘this is not a righteous case, and here’s why,’
and/or ‘If you bring it, I’ll kick your ass.’ I find sometimes No. 2 is more effective, especially if
it’s a high-profile matter. In that sense, the case doesn’t go to trial.
But Jesse Jackson Jr., for example, pleaded guilty and went to prison for couple of years. I
didn’t do it because I am a snitch lawyer or because I’m a rollover guy. I did it because the
evidence was overwhelming, and there was no choice about it, and it was in his interest.
And of course it was what he wanted to do.
I settle cases. But the people who come to me generally are people who have thought
through the issues and decided there’s a real chance of a scrap, and someone recommends
me. Those are the people with whom I have the initial conversation, not people who are
looking for an old-timer who routinely gets the best deals. Those are not the people who
come to me.
LD: How do you handle losses?
RW: Do I want to throw myself off a bridge? Yeah. It’s interesting psychologically—I just had
this very nice win in New Orleans. I expected it, I was gratified, I’m very fond of my client, I
was pleased—and three minutes later I’m done, on to the next one. When I lose, I replay the
spool and second-guess myself constantly. It’s hard to shake. The pain of a defeat is much
greater than the joy of victory. I don’t know why that is—I wish it were otherwise.
LD: Is there one win that stands out as particularly satisfying?
RW: It would be hard to separate them out. A couple come immediately to mind.
I represented a kid named Lamar Owens. He was a black Navy quarterback accused of rape
by a white young woman who was his classmate. He actually moved into my house and
became close friends with my son. He was acquitted of the rape charge.
I represented Ron Carey, the president of the Teamsters, during 9/11. I actually saw the
second plane go into the tower. And we came back two weeks later when the court was put
back together and got an acquittal. That was a huge experience.
White Collar Titan Reid Weingarten on Juries Clients and the Scariest Federal Prosecutor...
http://www.litigationdaily.com/printerfriendly/id=1202736534962
Page 5 of 5
9/8/2015
Ted Wells [at Paul, Weiss, Rifkind, Wharton & Garrison] and I did Mike Espy together. That
was probably the first huge national trial I had as a defense lawyer. Espy was a very
promising former congressman from Mississippi who [Bill] Clinton made secretary of
Agriculture. It was very controversial because traditional, white hidebound farmers were not
crazy about Mike Espy being secretary, and he was charged with taking bribes from Don
Tyson. It was a huge trial, and I think there were 35 counts of not guilty on everything. That
put me in a different place. I’m friends with Espy to this day, and very close friends with Ted
Wells.
LD: Do you wind up being friends with many of your clients?
RW: Some, certainly not all. For many, even when there’s an acquittal, the experience is so
harrowing that they want to close that chapter. To maintain a relationship with me would
hamper that closure for them.
With opposing counsel—these days, that’s prosecutors—one of two things happens. We
become close friends or we never speak again. There’s no middle ground.
LD: Tell me a little about the See Forever Foundation and how it came into existence.
RW: By accident of history, [former Attorney General] Eric Holder and I are extremely close.
We grew up together in the Justice Department and had offices next to each other for many
years in the public integrity section. We’re like family. We used to go to Oak Hill, which was
then this dreadful juvenile justice facility in Maryland, and teach and tutor in the jail.
We came to the conclusion that one-third of these kids are hopelessly gone, we can’t fix
them no matter what, too much damage. One-third who knows, but one-third we could fix.
These were the kids with the bright eyes and quick wit, usually drug runners. We made a
commitment and we started the foundation. David Domenici, the son of the senator from
New Mexico, and James Forman Jr., son of the famous civil rights leader, they deserve the
credit. Reid Weingarten does not. I started it. Eric had to drop by the wayside when he
became the U.S. attorney [for the District of Columbia], because he had to prosecute these
kids. It was an obvious conflict. He’s been a supporter in his heart since then.
But David Domenici and James Forman are phenomenally gifted lawyers who for 20 years
threw their lives at this. They brought Maya Angelou in. Bob Strauss of Akin Gump gave us
a million bucks, and we bought a building on Ninth Street in the Shaw neighborhood. That
was a huge turning point.
We took over the education at Oak Hill, turned it around, and right now it’s a model for the
country. We are also a large public charter school. Frankly, it’s had its ups and downs. But
when I put my head down for the last time and think about what I’ve done and not done, the
See Forever experience will be one of the things that gives me the most satisfaction.
Contact Jenna Greene at jgreene@alm.com or on Twitter @jgreenejenna.
Copyright 2015. ALM Media Properties, LLC. All rights reserved.
"
IMAGES-003-HOUSE_OVERSIGHT_015616.txt,"IN THE CIRCUIT COURT OF THE 17""!
JUDICIAL CIRCUIT IN AND FOR
BROWARD COUNTY, FLORIDA

CIVIL DIVISION
BRADLEY J. EDWARDS, and CASE NO, CACE 15-000072
PAUL G. CASSELL,
Plaintiffs,
Vv.
ALAN DERSHOWITZ,
Defendant.

/

ORDER ON BOIES, SCHILLER & FLEXNER LLP AND JANE DOE NO, 3’s MOTIONS

oe

TO QUASH SUBPOENAS OR FOR PROTECTIVE ORDER

This Cause comes before the Court on November 2, 2015 upon Boies, Schiller & Flexner
LLP’s Motion to Quash Subpoena Or For Protective Order and Jane Doe No. 3’s Motion to Quash
Subpoena Or For Protective Order.
Having reviewed. the record and being otherwise fully advised, the Court hereby Orders:
1. Non-Party Law Firm Boies, Schiller & Flexner LLP’s Motion to Quash Subpoena is
GRANTED. The subpoena to Boies, Schiller & Flexner LLP is quashed in its entirety.
2. Non-Party Jane Doe No. 3’s Motion to Quash Subpoena or For Protective Order is
Denied in Part, Granted in part, as follows:
a. The Motion to Quash is Granted as to Requests Nos. 9, 17, 18, 20, and 23, The
Motion is denied as to the remaining Requests.
b. A Confidentiality Order shall be entered.
ce. The deposition of Jane Doe No. 3 shall be limited to 4 hours without prejudice
to request for additional time in the future.
d. The deposition will be taken at the law firm representing the witness, Boies,

Schiller & Flexner LLP.

HOUSE_OVERSIGHT_015616

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Entertainment Inc. 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IMAGES-004-HOUSE_OVERSIGHT_018134.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_018134
"
IMAGES-008-HOUSE_OVERSIGHT_025048.txt,"other military aspects of the nuclear
enterprise.

Seizing the Nuclear High Road with Little
to Lose

Even as he confronts a real bomb in North
Korea (very bad options there) and a
potential one in Iran (bad options there
too), Obama is trying to make good ona
longstanding commitment to reduce
America's own nuclear arsenal. Backed by
the military chiefs and likely by the public
too (getting rid of nukes equals saving
money), but opposed by Republicans in
Congress, Obama will try to work around
the political obstacles by seeking a deal
with yes ... you got it ... his old friend Vlad
Putin. It's worth a try. If Putin balks or
Republicans get in the way, the president
can always advocate unilateral cuts -- not
something he wants to do. But if he can't
have his way on nukes, he can always
blame it on the Russians and the
Republicans with little to lose. The road to
getting rid of nukes is a long one. Let the
next guy (or gal) worry about it.

A Little Leg on Palestine?

Obama hasn't mentioned the Israeli-
Palestinian conflict ina SOTU speech since
2009. And that's no coincidence. His own
poorly thought-through initial effort
crashed and burned, leaving the president
pretty frustrated and annoyed with both

HOUSE_OVERSIGHT_025048
"
IMAGES-004-HOUSE_OVERSIGHT_017207.txt,"4.2.12
WC: 191694

“security —or “corporate security” or “university security” or the security of any
institution—should be subject to rigorous challenge, in an effort to separate the contrived from
the authentic. But this will not eliminate all conflict. There will be some cases of real and
intractable conflict between security and freedom. Our Constitution purports to resolve doubts in
favor of freedom, but there are cases where even that presumption will not resolve the problem:
where the authentic claims of national security will seem to outweigh the powerful presumption in
favor of free expression.

In those cases we need to develop adequate mechanisms for resolving the dispute. Resolution
cannot be left entirely in the hands of those responsible for security, such as the executive or the
military. Our experience in delegating decision-making authority to these institutions in times of
crisis 1s discouraging.

It has been indeed fortunate for the survival of our liberties that there have always been some
Americans—often only a small group and sometimes not those directly affected—willing to
challenge governmental high-handedness, even during periods of crisis. Under our constitutional
system, it takes only a single person challenging the government to create a case or controversy
suitable for judicial resolution.

This is not to suggest that justice should remain blind to the existence of a real emergency
endangering the survival of the nation. As Justice Arthur Goldberg once wrote: “While the
Constitution protects against the invasion of individual rights, it is not a suicide pact.” But it is
precisely during times of crisis—when the balance between momentary expediency and enduring
safeguards often goes askew—that courts can perform their most critical function: to preserve or
restore a sense of perspective.

In the eternal struggle between liberty and security we have come to expect the executive and
legislative branches to champion the latter. The judiciary—with its lifetime tenure, its tradition of
independence, and its unique stewardship over our irrepealable rights—is the institution most able
to resist the passing fears and passions of a dangerous moment.

But liberty is not a commodity that can be obtained once and for all, and then passively held on to.
The battle for civil liberties, as Roger Baldwin, the late founder of the ACLU, liked to say, “never
stays won.” (A variation on the Biblical admonition that justice must be actively pursued, because
it too “never stays won.”) The struggle must be endured by every new generation and in each
new crisis. What Thomas Paine taught us on the eve of our own Revolution remains true today:
“Those who expect to reap the blessings of freedom must. . . undergo the fatigue of supporting
it.”

The stakes on both sides are much higher when the government seeks to censor dangerous
“leaks” than when it seeks to censor obscenity or other merely offensive or disturbing speech.
The danger of publication is greater and the danger of repression is also greater. There are
serious risks in not censoring, and there are serious risks in censoring. Striking the proper
constitutional balance between these risks is a daunting challenge that every democracy must
confront. Unfortunately it is a challenge that too few democracies—including our own—have
confronted wisely and correctly.*!

120

HOUSE_OVERSIGHT_017207
"
IMAGES-006-HOUSE_OVERSIGHT_021144.txt,"40 MICHAEL WOLFF

the presidency. That's what it looked like on paper. But the opposite was
true, too. There was a permanent-government class in the Justice Depart-
ment that believed an election ought to have no role at all in how the
DOJ conducted itself. The department was outside politics and ought
to be as blind as the courts. In this view, the Justice Department, as the
nation’s preeminent investigator and prosecutor, was as much a check on
the White House, and ought to be as independent of the White House,
as the other branches of government. (And within the Justice Department,
the FBI claimed its own level of independence from its DOJ masters, as
well as from the White House itself.)

Even among those at Justice and the FBI who had a more nuanced
view, and who recognized the symbiotic nature of the department's rela-
tionship with the White House, there was yet a strong sense of the lines
that cannot be crossed. The Justice Department and the FBI had, since
Watergate, found themselves accountable to Congress and the courts. Any
top-down effort to influence an investigation, or any evidence of having
bowed to influence—memorialized in a memo or email—might derail a
career.

In February 2018, Rachel Brand, the associate attorney general, a for-
mer Bush lawyer who had been nominated for the number three DOJ
job by Obama, resigned to take a job as a Walmart lawyer. If Trump had
fired Rosenstein during Brand's tenure, she would have become acting
attorney general overseeing the Mueller investigation. She told col-
leagues she wanted to get out before Trump fired Rosenstein and then
demanded that she fire Mueller. She would take Bentonville, Arkansas,
where Walmart had its headquarters, over Washington, D.C.

For a generation or more, the arm’s-length relationship between the
White House and the Department of Justice often seemed more like a
never-ending conflict between armed camps. Bill Clinton could hardly
stomach his attorney general, Janet Reno, having to weather the blowback
from her decisions regarding Ruby Ridge, a standoff and deadly overre-
action between survivalists and the FBI; Waco, another botched standoff
with a Christian cult; and the investigation of Dr. Wen Ho Lee, with the
DOJ chastised for its reckless pursuit of a suspected spy. Clinton came
very close to firing Louis Freeh, his FBI director, who openly criticized

SIEGE 41

him, but managed to swallow his rage. Top people from the Bush White
House, the FBI, and the Justice Department almost came to literal blows
at the bedside of the ailing AG John Ashcroft—James Comey himself
standing in the way of the White House representatives trying to get Ash-
croft to renew a domestic surveillance program—with the White House
finally having to back down. Under Obama, Comey, who by then was the
FBI director, made a further grab for the FBI’s independence from the
Justice Department when he unilaterally decided to end and later reopen
the Hillary Clinton email investigation—and, by doing so, arguably toss-
ing the election to her opponent.

Enter Donald Trump, who had neither political nor bureaucratic
experience. His entire working life was spent at the head of what was in
essence a small family operation, one designed to do what he wanted and
to bow to his style of doing business. At the time of his election, he was
absent even any theoretical knowledge of modern government and its
operating rules and customs.

Trump was constantly being lectured about the importance of “cus-
tom and tradition” at the Justice Department. As reliably, he would
respond, “I don't want to hear this bullshit!”

He needed, one aide observed, “a hard, black line. Without a hard,
black line that he can’t cross, he’s crossing it.”

Trump believed what to him seemed obvious: the DOJ and FBI
worked for him. They were under his direction and control. They must do
exactly what he demanded of them; they must jump through his hoops.
“He reports to me!” an irate and uncomprehending Trump repeated early
in his tenure about both his attorney general Jeff Sessions and his FBI
director James Comey. “I am the boss!”

“I could have made my brother the attorney general,” Trump insisted,
although in fact he did not even speak to his brother (Robert, a seventy-
one-year-old retired businessman). “Like Kennedy.’ (Six years after John
E Kennedy appointed his brother Robert attorney general, Congress
passed the Federal Anti-Nepotism Statute, called the “Bobby Kennedy
law,’ to prevent exactly this sort of thing in the future—although that
did not stop Trump from hiring his daughter and son-in-law as senior

advisers.)

HOUSE_OVERSIGHT_021144
"
IMAGES-009-HOUSE_OVERSIGHT_028125.txt,"ceremony with both the Interior Minister and the Prime Minister present. The
first was in Ofakim, near where I’d worked in the fields with Yigal Garber in
the 1950s. Shortly after we arrived, a group of protestors started shouting at
Rabin. Manyac, they yelled, “maniac”. Boged: traitor. At the second event, near
Haifa, busloads of protestors from right-wing religious schools shouted abuse at
Rabin when he rose to speak.

As the Knesset vote on Oslo II approached, the hatred reached new levels.
The day before, thousands of protesters packed into Jerusalem’s Zion Square.
Some shouted “Death to Rabin!” Others burned pictures of him, or passed out
photos of him dressed in an Arab keffityeh, or even a Nazi uniform. Bibi had
publicly declared that opposition to the agreement must remain within the
bounds of the law. Yet as he addressed the baying mob from a hotel balcony, he
uttered not a single word of reproach. In fact, he called Rabin’s government
“illegitimate”, because it relied in part on the votes of Israeli Arab Knesset
members.

The day of the vote, the mob descended on the Knesset. Rabin had called a
government meeting beforehand. When I got there, the crowd was so large that
I was taken in through a special security entrance away from the front of the
building. But the Housing Minister, Binyamin Ben-Eliezer, arrived late and
tried to drive through the main gate. Protestors pounded furiously on his car and
tried to break the windows. Our meeting had already begun when he arrived. He
had spent nearly as long as I had in the army, but he was shaken. Interrupting
Rabin, he banged his fist on the table. “I’ve been on battlefields,” he said. “I’ve
been shot at. I know how to read a situation. I saw their faces. It’s insane! It is
beyond anything rational, this kind of hatred.” Pounding the table again, he
shouted: “I warn you. It will end with a murder! It will end with a murder!”
Rabin motioned for calm. He, too, was concerned by the rhetorical violence,
even more so now that it was becoming physical violence. But as he would tell
an interviewer a few weeks later, he simply didn’t believe that “a Jew will kill a
Jew.” Nor, at that point, did I.

After the Knesset vote, which passed by a margin of 61 to 59, plans got
underway for a rally in defense of the peace process, and against the tide of
hatred on the right. It was the idea of two people: Shlomo Lahat, a Likud mayor
of Tel Aviv who now backed Oslo, and a French Jewish businessman named
Jean Frydman, a friend of Shimon Peres whom I had got to know and like. But
in several of the early planning discussions in which I was involved, Rabin was
against the rally, which was to be held in the huge Kings of Israel Square in the

2/7
HOUSE_OVERSIGHT_028125
"
IMAGES-003-HOUSE_OVERSIGHT_014508.txt,"Tuesday, December 13, 2016 The Virgin Islands Daily News 11

inci : 2 Fort Salé (formerly Fort
Fort Sale : Flamand) at the entrance
to Salt River in St. Croix is
the oldest intact colonial
earthwork fort under
3 United States authority. It
Ancient Taino ceremonial is-also believed to be the
ball court and plaza 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 agree-
ment with the government
of the Virgin Islands.

The Daily News of May 13,
1938, reported the 1934 discov-
ery 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 atten-
tion of J.C. Trevor, who was
conducting field work on the
Negroes of the Eastern Carib-
bean under his fellowship in

thy | t North t
University. The skeletal remains An old scale found on St. John and donated to Cruz Bay Museum on July
had been re-interred and while 4 2 8, 1974, by Russel Dennem.
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 “Skel-
etal Remains from the Virgin
Islands” in the April 1938 issue
of “Man, A Monthly Record of
Anthropological Science,’ pub-
lished by the Royal Anthropo-
logical Institute of Great Britain
and Ireland (Vol. XXXVIII, 47-65).

According to The Daily News, : ‘ aes Ris

Virgin Islands “Governor Law- pot a eS as
rence Cramer gave permission TWO SKULLS FROM THE VIRGIN ISLANDS. Photo courtesy of ARCHAEOLOGICAL RECONNAISSANCE OF THE ISLAND OF ST. JOHN,
for the material to be excavated 1-8 male : 2-4 female : abet one-thint waturot size. UNITED STATES VIRGIN ISLANDS, PLATE VII
and sent to England” 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.

HOUSE_OVERSIGHT_014508
"
IMAGES-009-HOUSE_OVERSIGHT_027216.txt,"Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 98B4DF94-BDBB-49D1-B440-152CC70D878F

Message: I think it really will take trump pushing back on him to make him realize these are different times

Sender:

Time: 03/17/17 04:57:34 AM (511444654)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 121FB7C4-7C26-4D8A-BA8E-E2D5C7AED325
Message: That might be the only way

Sender: YF

Time: 03/17/17 02:09:46 PM (511477786)

Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: BE841E10-D5A6-4846-8E19-CS5B69A0DBE3C0

Message: http://time.com/4704550/bill-gates-cutting-foreign-aid-makes-america-less-safe/

Sender: iia

Time: 03/17/17 02:51:29 PM (511480289)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 7C538399-4DBE-47 1 D-BA35-A544FCB4E2CA

Message: Unrelated topic Do you think endogenous inflammatory cells have exploitable Magnetic properties

Sender:

Time: 03/17/17 02:51:46 PM (511480306)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 7F2FC11F-EOFC-4C05-8889-661047DEEC8E
Message: Asking for endovascular purposes

Sender:

Time: 03/17/17 02:52:00 PM (511480320)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 99D7EEBS5-69A5-4CB9-81A2-BA4AC5F90887
Message: I want to talk about it

HOUSE_OVERSIGHT_027216
"
IMAGES-011-HOUSE_OVERSIGHT_030987.txt,"From: Michael Wolff

Sent: 2/1/2019 4:07:11 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: FYI

Importance: — High

Books and newspaper accounts of Trump’s 45 years in business were full of his
shady dealings, and the presidency had only helped to highlight them and to surface even
juicier ones. Real estate was the world's favorite money laundering currency and Trump's
B-level real estate business was quite explicitly designed to appeal to money launderers.
What’s more, Trump’s own financial woes, and desperate efforts to maintain billionaire
lifestyle, cache, and market viability, forced him into constant and unsubtle
schemes. Practically speaking, you couldn’t miss him, as the Mueller investigation
appeared to be finding.

In November 2004, for instance, Jeffrey Epstein, the financier later caught in a scandal
involving under-age prostitutes, agreed to buy out of bankruptcy a house in Palm Beach,
Florida for $30 million—a house that had been on the market for two years. Epstein and
Trump had been close friends—playboys in arms, as it were—for more than a decade,
with Epstein often counseling Trump on his chaotic financial affairs. Epstein took Trump
to see the Palm Beach house to advise him on construction issues involved with moving a
swimming pool. As he prepared to finalize his deal for the house, an incredulous Epstein
saw a severely cash-constrained Trump bid $41 million for the property, buying it through
an entity called Trump Properties LLC, financed by Deutsche Bank. Trump, Epstein knew,
had been renting his name, telling Epstein he ought to do the same—that is, for an ample
fee, Trump was willing to serve as a front man to disguise the actual ownership in a real
estate transaction. (This was, in effect, just another variation of Trump’s basic business
model of licensing his name for commercial properties owned by someone else.) A furious
Epstein, suspecting that the real owner was a Russian oligarch, who Trump Knew, Dmitry
Rybolovlev—part of the close Putin circle of government-aligned industrialists in Russia—
threatened to expose the deal, then getting extensive scrutiny in Florida papers. The fight
became all the more bitter when, two months later, the house was put on the market for
$125 million. Well known to Trump, who often saw Epstein at his current Palm Beach
house, Epstein was visited almost every day, and had been for many years, by girls who he
paid for massages with happy endings—girls recruited from local restaurants, strip clubs,
and, also, Trump’s Mar-a-Lago. Just as the threats and enmity of the two friends increased
over the house sale, Epstein found himself under investigation by local Palm Beach police.
Epstein’s legal problems vastly escalated as the house, with only minor improvements,
was bought for $96 million by Dmitry Rybolovlev. That is, Trump had either miraculously
earned $55 million, without putting up a dime, or Rybolovlev, or someone such as
Rybolovlev, paid Trump Properties, LLC—actual owner unknown—$96 million, thereby
providing a clean payment of $55 million to someone. Rybolovlev might have, in effect,
paid himself for the house, thereby cleansing the money. Epstein, on his part, would spend
12 months in jail on a prostitution charge.

HOUSE_OVERSIGHT_030987
"
IMAGES-004-HOUSE_OVERSIGHT_016496.txt,"entirety pursuant to N.Y. Civil Rights Law section 50-b and could not be released — even with
the names of victims redacted — without an order from this Court. /d. Nonetheless, the District
Attorney’s Office stated in an email that it would “ot oppose” the Post’s motion requesting that
a redacted brief be produced. /d. Ex. D.

Counsel for the Post also contacted counsel for Epstein to ascertain his position on the
disclosure of the appellate briefs. /d. On December 20, 2018, Mr. Epstein’s lawyer stated that
he would not take a position until he had an opportunity to review the brief and reserved his right
to oppose. Counsel for Epstein later informed counsel for the Post that “after consideration of
your request for the unsealing of the appellate briefs with redactions of certain identities, we take
no position on behalf of Mr. Epstein.” /d. Ex. F.

On December 21, 2019, the Post moved this Court for an order unsealing the appellate
briefs and directing the Manhattan District Attorney’s Office to produce copies of the briefs with
the names of victims redacted (the “December 21 Motion”). On January 2, 2019, counsel for the
Post received an affirmation signed by Assistant District Attorney Karen Friedman Agnifilo,
dated December 28, 2018, which opposed the December 21 Motion. After telling the Post that it
“will not oppose the petition for a redacted brief,” the District Attorney’s Office argued that the
December 21 Motion should be denied on two grounds. First, the District Attorney’s office
faulted the Post for supposedly failing to “furnish the requisite notice” to “the prosecuting
agencies for defendant’s underlying sex crimes,” as required by section 50-b of the New York
Civil Rights Act. fd. Ex. E92. According to the Manhattan District Attorney, the Post should
have notified “the federal and local prosecutor’s offices in Florida, where defendant was

charged” (and presumably not the Manhattan District Attorney’s Office). !

' The Post firmly disputes the District Attorney’s contention — which is not supported by any authority — that section
50-b requires the Post to serve any prosecutor who touched Epstein’s case in Florida in order to unseal documents

9
481 1-3721-9459v.3 3930033-000039

HOUSE_OVERSIGHT_016496
"
IMAGES-011-HOUSE_OVERSIGHT_031441.txt,"Fresn: ee
on behalf of Christina Galbraith

Sent: 1/5/2015 10:12:19 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fwd: High Profile

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

From: Jamie Rosenwald (ie
Date: Mon, Jan 5, 2015 at 5:07 PM

Subject: High Profile

To: ""Jeffrey@jeffreyepstein.org"" <Jeffrey@jeffreyepstein.org>

Dear Jeff,

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,
Ps. David Asch and I toasted to you during our Thanksgiving weekend in Amagansett in November.

Christina Galbraith
MEDIA/PR

an Foundation

HOUSE_OVERSIGHT_031441
"
IMAGES-004-HOUSE_OVERSIGHT_017950.txt,"Case 1:19-cv-03377 Document1 Filed 04/16/19 Page 16 of 28

60. Ms. Farmer, like other victims of, and witnesses to, Epstein and Dershowitz’s sex
trafficking and abuse has been subjected to attacks and intimidations. (Exhibit 12, Jf] 8-9). Her
courageous testimony, together with the sworn testimony of victims such as Sarah Ransome and
witnesses such as Mr. Alessi and Mr. Rodriguez , proves beyond any doubt that Dershowitz’s
claims that he was never present where Ms. Roberts was trafficked, and never in the presence of
young girls, are a lie intended to cover up his culpability.

61. Again both to conceal his relationship with Epstein and to discredit Roberts,
Dershowitz has repeatedly asserted that he has records that prove that it would have been
“impossible” for him to be with Roberts because he was never in the same place and time as
Roberts. As both Dershowitz and Epstein know, that too was a lie. The testimony of Epstein’s
household staff establishes that Dershowitz was repeatedly at Epstein’s residence. Even
Dershowitz’s own selected, incomplete, and apparently revised, records demonstrate that
Dershowitz was present at locations where Ms. Roberts was with Epstein.

62.  Dershowitz’s assertion that Roberts accused him of having sex with her only after
her lawyers convinced her to do so in late 2014 is not only false, as both Dershowitz and Epstein
knew, but thoroughly disproved by the record.

63. Roberts had identified Dershowitz as a participant in her sexual abuse at the time
it occurred. She did so again in 2009. In 2010 Epstein’s co-conspirators were repeatedly asked
about Dershowitz. For example:

(a) Adriana Ross refused to answer on Fifth Amendment grounds whether
“Alan Dershowitz stays at Jeffrey Epstein’s house... when underage minor

females have been in the bedroom with Jeffrey Epstein”.

16

HOUSE_OVERSIGHT_017950
"
IMAGES-009-HOUSE_OVERSIGHT_027799.txt,"GULL: EBB

Message:

547F6-FB9A-4B4A-BA98-12FFA672B1FA

Incredible

sender:

Time: 06/
Flags: 10
ITs Read:

Is Invita

15/19 10:47:58 AM (582313678)
60865
Yes

tion: No

GUID: 49EDFF64-ADEA-4FD0-A03A-DFCB525370AE
Message: Incredible

Sender: e:jeeitunes@gmail.com

Time: 06/15/19 10:50:05 AM (582313805)
Flags: 1085445

Is Read: No

Is Invita

tion: No

GUID: 042133B8-8B6D-4C28-809B-7O02CB81161CA

Message: Its the family issue of when do you put daddy in a home.
eholees.

Sender: e:jeeitunes@gmail.com

Time: 06/15/19 10:51:51 AM (582313911)

Flags: 1150981

Is Read: No

Is Invita

tion: No

? all painful

GUID: F2B01A55-D244-4855-BA43-33BF7A463582

Message: https://www.msn.com/en-us/video/be-prepared/trump-warns-us-will-suffer
biggest-stock-market-crash-if-he-loses-in-2020/vp-AACVH6h

Sender: e:jeeitunes@gmail.com

Time: 06/15/19 10:51:51 AM (582313911)

Flags: 1085445

Is Read: No

Is Invita
GUID: 054

Message:

tion: No

ED3EF-ODA8-4C75-9F85-4682ABR7A4C70

A prediction or a threat???!

sender:

Time: 06/
Flags: 10
Is Read:

Is Invita

GUID: D78

16/19 05:55:39 AM (582382539)
60865
Yes

tion: No

E49CO-1F67-4119-A3FB-5ACAAC4C78F9

HOUSE_OVERSIGHT_027799
"
IMAGES-008-HOUSE_OVERSIGHT_024801.txt,"CHAPTER IX
Cannabis Industry Risk Factors

Companies in the cannabis industry are subject to many risks. The realization of one or more of these
risks could have a material adverse effect on the business and results of operations of a company and
on its lenders, investors and principals. The following discussion highlights some, but not all, of these
risks,

Risks Related to U.S. Federal Law

¢ The manufacture, distribution, dispensing and possession of cannabis are strictly controlled
under the Controlled Substances Act (CSA), irrespective of whether such activities comply with
applicable state law. Financial transactions in connection with cannabis-related violations of
the CSA may violate other federal laws. Individuals and businesses—including the principals,
employees, directors, agents, lenders and investors of such businesses—that violate the CSA or
such other laws are subject to fines, asset seizure and imprisonment under federal law.

¢ Federal statutes and policies that currently restrict or deprioritize enforcement of certain CSA
violations related to cannabis are subject to expiration, rescission and other changes. There can
be no assurance that in the future the federal government will not strictly and aggressively enforce
cannabis-related CSA provisions.

¢ If CSA controls applicable to cannabis are relaxed or repealed in the future, other federal laws
and regulations governing the production, distribution and marketing of products for human
consumption, such as the Federal Food, Drug, and Cosmetic Act, may be more strictly enforced
by the federal government in relation to the cannabis industry.

¢ CSA controls and federal enforcement priorities applicable to cannabis both preclude interstate
commerce in cannabis and cannabis products. As a result, it can be costly or impractical for
companies in the cannabis industry to operate in multiple states and to gain economies of scale
through centralized operations.

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC 165

HOUSE_OVERSIGHT_024801
"
IMAGES-003-HOUSE_OVERSIGHT_015399.txt,"George’ s mother: Yeah, but it’ s not me he gets excited over. It’ s
only because of the Viagra.

George’ s father: What difference does it make, George? Listen to
this. The pills cost $10 each, but a friend of mine goes to Mexico and he
gets me a whole bottle of fifty for $42.

George: Gee, that’ s less than a buck a fuck, isn’ t it?

George’ s mother: George! You must never say the F-word in this
kitchen! /7o her husband] See, | told you, we never should’ ve told’ im.

[Cut to Jerry’ s apartment. Kramer bursts through the door]

Kramer: Jerry! Jerry! I’ m gonna be rich! | bought a bunch of shares
in Pfizer when it was real low, and now they put Viagra on the market and
all the doctors are getting writers’ cramp from writing prescriptions, and
the stock is going up and up like it swallowed Viagra! Jerry, I’ m gonna be
able to retire!

Jerry: Retire from whaf? Kramer, you don’ t do anything now.

Kramer: Yes, | do. | scheme. | spend a lot of time scheming, Jerry. But
now I’ Il be able to finance my schemes. |’ m gonna be able to call my

own bluff, every day! If that’ s not retirement, | don’ t know what is.

HOUSE_OVERSIGHT_015399
"
IMAGES-009-HOUSE_OVERSIGHT_026487.txt,"In addition to the numerous anti-Trump messages uncovered by the inspector general, there is a strong
circumstantial case—including personnel, timing, methods and the absence of evidence—that Crossfire

was initiated for political, not national-security, purposes.

It was initiated in defiance of a longstanding Justice Department presumption against investigating
campaigns in an election year. And while impartiality 1s always required, a 2012 memo by then-
Attorney General Eric Holder emphasizes that impartiality is “particularly important in an election
year,” and “politics must play no role in the decisions of federal prosecutors or investigators regarding
any investigations. ... Law enforcement officers and prosecutors may never select the timing of
investigative steps or criminal charges for the purpose of affecting any election, or for the purpose of

giving an advantage or disadvantage to any candidate or political party.”

Strong evidence of a crime can overcome this policy, as was the case with the bureau’s investigation of
Mrs. Clinton’s private email server, which began more than a year before the 2016 election. But
Crossfire was not a criminal investigation. It was a counterintelligence investigation predicated on the
notion that Russia could be colluding with the Trump campaign. There appears to have been no
discernible evidence of Trump-Russia collusion at the time Crossfire was launched, further reinforcing

the notion that it was initiated “for the purpose” of affecting the presidential election.

The chief evidence of collusion is the hacking of the Democratic National Committee’s servers. But
nothing in the public record suggests the Trump campaign aided that effort. The collusion narrative
therefore hinges on the more generic assertion that Russia aimed to help Mr. Trump’s election, and that
the Trump campaign reciprocated by embracing pro-Russian policies. Yet despite massive surveillance
and investigation, there’s still no public evidence of any such exchange—only that Russia attempted to

sow political discord by undermining Mrs. Clinton and to a lesser extent Mr. Trump.

Some members of the Trump team interacted with Russians and advocated dovish policies. But so did
numerous American political and academic elites, including many Clinton advisers. Presidential
campaigns routinely seek opposition research and interact with foreign powers. The Clinton campaign
funded the Steele dossier, whose British author paid Russians to dish anti-Trump dirt. The Podesta
Group, led by the brother of Mrs. Clinton’s campaign chairman, received millions lobbying for
Russia’s largest bank and the European Center for a Modern Ukraine, both with deep Kremlin ties. The

Clinton Foundation and Bill Clinton took millions from Kremlin-connected businesses.

No evidence has emerged of Trump-Russia collusion, and Mr. Mueller has yet to bring collusion-
related charges against anyone. Evidence suggests one of his targets, George Papadopoulos, was lured

to London, plied with the prospect of Russian information damaging to Mrs. Clinton, and taken to

HOUSE_OVERSIGHT_026487
"
IMAGES-001-HOUSE_OVERSIGHT_012207.txt,"003/003

11/05/2007 11:27 FAX ; ; ;
A1/05/707 MON 10:06 FAX 305 530 6440 EXECUTIVE OFFICE

NOVEMBER 5, 2007
PAGE 2 OF 2

=pstein iad to begin his term of incarceration not later than January 4, 2008, Thave learned that the

November hearing has been removed from the calendar and the next case disposition conference hag
not been set until Jamnary 7, 2008. This delay is unacceptable, and, pursuant to your obligations, the
Office requests that you confer with the State Attorney’s Office to try to find a date in November
when the judge is available to conduct a simultaneous plea and sentencing. Ifyou cannot find such
a date, please provide documentation of your efforts to abide by the terms of the Non-Prosecution
Agreement,

Third, there have been several press reports that Mr. Epstein no longer intends to enter a
guilty plea. Normally 1 would not Pay any attention to such reports, but your recent correspondence
attempting to restrict our Offlee from communicating with the State Attormey’s Office and the
allusion to the imposition of sentences that vlearly fall outside the terms of the Non-Prosecution
Agreement raises concer. Please confirm that Mr. Epstein intends to abide by hig agreement to
plead guilty to the specified charges and to make a binding recommendation that the Court impose
a sentence of 18 months of cuntinuous confinement in the county jail,

Finally, the Non-Prosecution Agreenient requires that you provide the Office with copics of
all proposed agreements with the State Attomey’s Office before Mr. Epstein signs any such
aercements. To date, no such agreements have been received. Please provide me with copies ofany
and all agreements with the State Attomey’s Office for our review. The Office also would like to
have someone present at the change of plea and sentencing to monitor Mr. Epstcin's compliance with
the terms of the Non-Prosecution Agreement, $0 please keep me informed of the date, time, and
location of the hearing,

Please provide me with a written response, adopted by Mr. Epstein, addressing these
concerns and reiterating Mr, Epstein’s intention to comply with the terms ol the Non-Prosecution
Agreement by November 8, 2007,

Sincerely,
R, Alexander Acosta

United States Attomey

Jeffrey Sloman
First Assistant United States Attorney

ee! R, Alexander Acosta, U.S. Attomey
AUSA A. Marie Villafaia

HOUSE_OVERSIGHT_012207

Id) 063
"
IMAGES-004-HOUSE_OVERSIGHT_017788.txt,"Case 1:19-cv-03377 Document1-6 Filed 04/16/19 Page 2 of 2

My perjuring accusers are Virginia
Roberts and Sarah Ransomme. Both
have long records of lying. Roberts sold
a Story claiming that she met Al Gore on
Epstein’s island. Secret Service records
prove he was never on the island.

Ransomme claims she has sex tapes of
Hillary C and DJT

Alan Dershowitz ©

My false accusers won't accuse me on Twitter
but | will accuse them: | hereby accuse my false
accusers of committing the felony of perjury
and challenge them to sue me for defamation
They won't ,because they know the truth will L.

Twitter for iPhone

https://twitter.com/AlanDersh

HOUSE_OVERSIGHT_017788
"
IMAGES-009-HOUSE_OVERSIGHT_027941.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_027941
"
IMAGES-007-HOUSE_OVERSIGHT_023695.txt,"Fareed Zakaria GPS

“Xi Jinping: The Governance of China”

Robert Lawrence Kuhn
October 5, 2014

FZ: What in the world is the leader of the second
largest economy on the planet thinking? That’s a
question many would love to know the answer to,
but in a closed, secretive society, like China, it’s
all but impossible to know. He rarely gives
interviews, and the press in China is far from free.
But now we have something to look at. Chinese
President Xi Jinping has a new book, entitled The
Governance of China, and it’s aiming for
worldwide impact. State media there reports that
the book has been published in nine languages:
Chinese, English, French, Russian, Arabic,
Spanish, Portuguese, German and Japanese.

My next guest, Robert Lawrence Kuhn, says it is a
milestone. Kuhn has advised the Chinese
government for twenty-five years, and is the
author of How China’s Leaders Think. Welcome.

KUHN: Pleasure to be here.

WHAT IN THE WORLD IS XI JINPING THINKING? FZ: First, give us a sense of who this man is for
ers © : eet § our viewers. Who is Xi Jinping, and why is he a
little different from China’s ordinary leaders?

KUHN: Xi Jinping has been involved in all aspects
of what makes China today. His father was one of
the founders of the country, truly a great
revolutionary and a great reformer in the early
days. Xi Jinping graduated from Tsinghua
University [‘China’s MIT’], with a degree in
chemical engineering. Then he went through
4 more than two decades working at the local level.
WHAT IN THE WORLD IS XI JINPING THINKING? Cy Starting in a county, and then a city, Xiamen,

: = working his way up for many years in Fujian
a — 4 , eS province, becoming the governor. Then for five
years Xi was the Party Secretary of, the number
one official responsible for, Zhejiang province,
which is the center of entrepreneurship in China.
So that gives him a great sense of business. And
that was when I first met Xi Jinping, actually, in
2005, and then again in 2006, seeing him doing
the real work of running a province, a local area.

a | President Xi is a person, when you see him, who
is unassuming; he’s big, he has a strong presence
WHAT IN THE WORLD IS X! JINPING THINKING? Cee | in aroom, but you feel very comfortable with

= oro him. He doesn’t put on airs, he’s very warm and

HOUSE_OVERSIGHT_023695
"
TEXT-002-HOUSE_OVERSIGHT_033426.txt,"From: Larry Summers 
Sent: 12/22/2018 12:52:50 PM 
To: J [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Of course. Who knows whether I'm serious? Not at this moment me. 
Will trump crack into insanity? 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
On Dec 22, 2018, at 7:18 AM, J <jeevacation@gmail.com> wrote: 
trump - borderline insane. dersh, a few feet further from the border but not by much 
On Sat, Dec 22, 2018 at 7:03 AM Larry Summers /rote: 
Sent 45 minutes after she sent an outline. 
I had sent a comment in mtg w her father flattering her father and saying other China officials had flattered him 
as well. 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: lhsoffice@lawrencesummers.com 
Follow me on twitter glhsummers 
www.larrysummers.com 
Begin forwarded message: 
From: Keyu Jin 
Date: December 22, 2018 at 12:49:20 AM EST 
To: Larry Summers 
I also wanted to say how grateful I am and have been for your support, and also your support of my father's 
work. I don't say these things often enough but it is I hope implied. 
HOUSE OVERSIGHT 033426 
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 033427 
"
TEXT-001-HOUSE_OVERSIGHT_030397.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 12/14/2017 9:31:07 PM 
To: Brad S Karp 
Importance: High 
http ://www. dailymail. co .uk/news/article-3 9 140 1 2/Troub led-woman-history-drug-us e-claimed-ass aulted-
Donald-Trump-Jeffrey-Epstein-sex-party-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 030397 
"
IMAGES-010-HOUSE_OVERSIGHT_030316.txt,"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
"
IMAGES-010-HOUSE_OVERSIGHT_028559.txt,"Cite as: 586 U.S. (2019) 1

BREYER, J., dissenting

SUPREME COURT OF THE UNITED STATES

No. 17-1011

BUDHA ISMAIL JAM, ET AL., PETITIONERS v.
INTERNATIONAL FINANCE CORPORATION

ON WRIT OF CERTIORARI TO THE UNITED STATES COURT OF
APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT

[February 27, 2019]

JUSTICE BREYER, dissenting.

The International Organizations Immunities Act of 1945
extends to international organizations “the same immu-
nity from suit and every form of judicial process as is en-
joyed by foreign governments.” 22 U.S. C. §288a(b). The
majority, resting primarily upon the statute’s language
and canons of interpretation, holds that the statute’s
reference to “immunity” moves with the times. As a con-
sequence, the statute no longer allows international or-
ganizations immunity from lawsuits arising from their
commercial activities. In my view, the statute grants
international organizations that immunity—just as for-
eign governments possessed that immunity when Con-
gress enacted the statute in 1945. In reaching this conclu-
sion, I rest more heavily than does the majority upon the
statute’s history, its context, its purposes, and its conse-
quences. And I write in part to show that, in difficult
cases like this one, purpose-based methods of interpreta-
tion can often shine a useful light upon opaque statutory
language, leading to a result that reflects greater legal
coherence and is, as a practical matter, more sound.

I

The general question before us is familiar: Do the words
of a statute refer to their subject matter “statically,” as it

HOUSE_OVERSIGHT_028559
"
IMAGES-011-HOUSE_OVERSIGHT_032148.txt,"Over the last decade, Siem Reap, the gateway to Cambodia's
magnificent temples of Angkor Wat, has morphed from a dusty
backpacker hangout to a picturesque town filled with an array of five-star
hotels, artsy boutiques and restaurants oozing with ambience. Service
here is some of the finest and friendliest in the region, a trait nowhere
more evident than at the all-suite Alila Sothea. The hotel's regal 39
rooms, which surround a glittering slate-and-gold-leaf-tiled pool, offer a
tranquil, resort-like atmosphere that's rich with local culture and just 20
minutes by car from Angkor.

Click here to preview sale

Starting Sunday
31/7 at Noon BST

Hilltop Romance on Phuket

HOUSE_OVERSIGHT_032148
"
TEXT-001-HOUSE_OVERSIGHT_031089.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 10/28/2010 4:16:11 PM 
To: Faith Kates 
Special tax benefits could help founders and investors 
by Craig Sherman and Andrew Bryant on Tuesday, October 26, 2010, 9:10am PDT 
Craig Sherman and Andrew Bryant: A little noticed provision of a recently enacted federal tax law may lead 
to a significant increase in the formation of new startups and angel investing before the end of this year. If you 
have been thinking about founding or investing in a technology startup, there is no better time to jump in and 
take advantage of a recently enacted federal income tax benefit. 
President Obama recently signed into law changes to tax law that may, under certain circumstances, exempt 
profits from investments in startup companies from ALL federal income tax, including alternative minimum 
tax. Yes, that's right, if you start a new company now and sell it more than five years from now and make a $10 
million profit on the sale, you may owe NO federal income taxes on your profit. 
This special tax benefit will apply only to stock issued to founders or investors between September 28 and 
December 31, 2010, so time is of the essence. 
The founder or investor would have to buy and hold shares of a ""qualified small business"" for five or more 
years. A ""qualified small business"" is a C corporation engaged in an active trade or business with less than $50 
million in aggregate gross assets. 
If you satisfy the above requirements and certain other conditions, you may not have to pay federal income 
taxes on your first $10 million of gain. If there is a liquidity event within five years of your purchase of 
qualified small business stock, you may still be eligible to ""roll over"" any gains from sale of the shares tax-free 
within 60 days into another qualified small business. 
*********************************************************** 
The information contained in this communication is 
confidential, 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 031089 
"
IMAGES-002-HOUSE_OVERSIGHT_012901.txt,"This book 1s dedicated by Ben Goertzel to his beloved,
departed grandfather, Leo Zwell — an amazingly
warm-hearted, giving human being who was also a deep
thinker and excellent scientist, who got Ben started on the
path of science. As a careful experimentalist, Leo would
have been properly skeptical of the big hypotheses made
here — but he would have been eager to see them put to the

test!

HOUSE_OVERSIGHT_012901
"
IMAGES-010-HOUSE_OVERSIGHT_029121.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_029121
"
IMAGES-005-HOUSE_OVERSIGHT_018794.txt,"The Strip contains some of the highest visitor counts and retail sales per square
foot in the world. High profile retail properties that would compete with a
future luxury or lifestyle retail development at the Site are summarized below.

Located just south of the Site, Town Square Las Vegas contains a world-class
902,000 square-foot regional lifestyle center anchored by Apple, AMC Cinemas,
Whole Foods, H&M, Old Navy, Staples, Guitar Center and a recently opened
Saks Off Fifth Avenue.

Fashion Show Mall, a +1.9 million square-foot regional mall, is located at the
northwest corner of Las Vegas Boulevard and Sands Avenue. It underwent a $1
billion expansion and renovation in 2003. Anchors at this high-end fashion mall
include Neiman-Marcus, Nordstrom, Saks, Robinson-May, Dillard’s, Macy’s
and Bloomingdales Home.

Built in 1992, Forum Shops contains +510,000 square feet. Major tenants
include Niketown and high-end fashion houses such as Hugo Boss, Armani,
Burberry, Christian Dior, Ferragamo, and Valentino.

The Grand Canal Shoppes at The Venetian is located on the second floor of the
Venetian Hotel. Built in 1999, this mall contains +500,000 square feet. It also
features specialty shops such as St. John, Cannaletto, Sephora, Ann Taylor,
and Bebe. The Palazzo resort opened in early 2008 and The Shoppes contain
over 50 international boutiques and is anchored by Barneys New York. Other
boutiques include Coach, Ralph Lauren, Burberry, and Christian Louboutin.
The newest addition to the retail sector is the Crystals Shopping Center which
is located in the City Center Development.

~ HOUSE_OVERSIGHT 018794
"
IMAGES-001-HOUSE_OVERSIGHT_011068.txt,"peacock’s tail feathers are an encumbrance in running from predators. And why give
the expensive displays mostly to males? Why do males exist at all in species where

they contribute genes but no care?

We just saw the answer to the first. Answers to the second two again build on an
insight of Trivers in 1973. Males produce cheap sperm carrying genes alone.
Females produce eggs packed with costly nutrients. A male can pass genes to many
descendants through many mates if they approve his signs. That speeds up the fight
against parasites. Nature evolved males and their self-promoting signs and their

contests for fastest spread of antidote genes to catch up to shifts in parasite load.

Where Do Losers Go?

A key point in the Hamilton-Zuk theory is that losers’ genes in the beauty contest are
typically not driven to extinction. They are driven to low frequencies until needed
again. Kin selection, up to a point, helps maintain genic diversity by preserving
current losers within the gene pool. Selection pressures punish and restrain kin
selection when it conflicts with preservation of other genes whose time will come
again. | met Hamilton at a conference in Squaw Valley, where Bob Trivers had
helped us attract him, and told him this reason why I thought his 1982 paper helped
complete and qualify his 1964 paper. He was the absent-minded professor to
perfection. Moody, distracted, profound. He smiled, a rare thing for him, and said

“It’s been a long search.”

This explains what | mean by lineage survival or fitness. Much of this book assumes
its maximization even among modern humans, who create our own urban
environments in place of the ancestral savanna for which we were adapted. And
much of economic history, although written in cities by city-dwellers, appears to
assume the same. Chapter 2 listed some examples. Let’s review them. There was
Petty’s of 1662. The similar equilibrium wage theories of Smith and Ricardo
expected pay to converge to the level maintaining and replacing the work force,

which is trusted to spend it on both. Malthus’ population principle in 1798 and 1801

Chapter 7 Petty’s Idea 2/3/16 9

HOUSE_OVERSIGHT_011068
"
TEXT-002-HOUSE_OVERSIGHT_033340.txt,"From: Richard Kahn 
Sent: 1/18/2019 3:13:37 PM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: Trump-Deutsche Bank links in sights of U.S. House investigators 
Importance: High 
https://www.reuters.com/article/us-usa-trump-deutsche-bank/trump-deutsche-bank-links-in-sights-of-u-s-house-
investigators-idUSKCN1PC123  
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033340 
"
IMAGES-010-HOUSE_OVERSIGHT_030470.txt,"From: Jean Luc Brune! as

Sent: 3/8/2011 9:08:46 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re:

Importance: — High

This is not bad

On 3/8/11 3:47 PM, “Jeffrey Epstein"" <jeevacation@gqmail.com> wrote:

Jeffrey and Ghislaine: Notes on New York's Oddest Alliance
<http://www.vanityfair.com/online/daily/2011/03/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.

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.

HOUSE_OVERSIGHT_030470
"
IMAGES-003-HOUSE_OVERSIGHT_014939.txt,"Price objective basis & risk

Alphabet (GOOGL / GOOG)

Our price objective is $1025/$1025, representing 17x our core 2018 Google non-GAAP
EPS estimate (excluding non-Google losses), plus $118/share in cash, or 21x core
Google GAAP EPS plus cash. Alphabet has traded at 12-24x forward P/E over the last
five years and we think our 17x multiple is reasonable given shareholder friendly actions
that include the non-core revenue and operating loss disclosures, and stock buybacks.

Downside risks to our PO are: 1) Search revenue growth decelerates faster than
anticipated due to market maturity, 2) mobile transition drives negative search behavior
changes, 3) revenue growth pressure from competitor initiatives, 4) margins disappoint
due to revenue mix and investment initiatives, and 5) negative regulatory changes,
including EU antitrust. The stock has been subject to heavy volatility in the past based
on revenue growth and margin trends and this volatility could increase if economic
conditions deteriorate.

Amazon.com (AMZN)

Our PO of $1,100 is based on our SOP that values AWS at $127bn or $259 per share
and the retail business at $413bn or $841 per share. Our 5.5x AWS multiple is a modest
premium to the software/SaaS comp group at 5.0x on 2018 sales, and 0.9x multiple is a
premium to a retail general merchandise comp group at 0.7x. We think the premiums are
warranted given share gains and superior growth. Our $1,100 price objective implies
2.8x 2018E Price/Sales, a multiple above the high end of Amazon's historical range of
1.0-2.5x. We argue the historical P/S multiple should increase given positive 3rd party
sales (3P) that is reported on a net basis, a higher AWS revenue contribution, and record
gross profit margins.

Downside risks to our price objective are a consumer spending slowdown, rich P/E
multiple, margin or growth pressure from the digitization of media, more aggressive
offline competition, hardware strategy, AWS investments and/or price cuts, Prime
Instant Video content costs, and decelerating growth. The stock has been subject to
heavy volatility in the past, based on margin trends, and this volatility could increase due
to economic uncertainty.

Bankrate (RATE)

Our $13 price objective is based on 9x our 2018E EV/EBITDA, a slight discount to the
online lead-gen and marketplace peer group average of 11x. We believe it is reasonable
for RATE to trade at a slight discount given RATE's recent challenges to both growth
and margins and its position as a turnaround in the space.

Downside risks to our PO are: 1) limited visibility into intra-quarter trends, 2) stock
dependent on economic outlook, 3) card issuer spending is volatile and the turnaround is
short lived, 4) slower growth in personal loans than expected, 5) higher than expected
marketing spending to drive traffic to Bankrate sites, resulting in lower margins, 6)
Google changes have a negative impact on marketing margins and EPS, 7) competition
with other consumer finance sites, and 8) a large acquisition.

Care.com (CRCM)

Our $9 price objective is based on 1.3x 2018E EV/Sales or 10x 2018E EV/EBITDA, in line
with small cap ecommerce and subscription peers. Care.com has category leadership
and a large TAM, but we do not believe 7% 2-yr expected revenue growth warrants a
premium to peers. At the same time, we believe that the Google Capital investment
could provide some downside support on take-out potential.

Downside risks to our PO are 1) need to add more customers each year to grow given
high churn, 2) competition from SitterCity and Homestead, and 3) new care offerings

Bankof America

Merrill Lynch Internet/e-Commerce | 06 April2017 53

HOUSE_OVERSIGHT_014939
"
TEXT-001-HOUSE_OVERSIGHT_025942.txt,"From: Noam Chomsky 
Sent: 6/27/2016 12:23:53 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
CC: 
Subject: RE: Re: 
Importance: High 
All too true, I'm afraid. 
From: jeffrey E. [mailto:jeevacation@gmail.com] 
Sent: Sunday, June 26, 2016 6:20 AM 
To: Noam Chomsky_________________________ 
Subject: Re: Re: 
brexit. trump. Syria , ukraine. all tribal 
On Sat, Jun 25, 2016 at 8:59 PM, Noam Chomsky < i> wrote: 
Highlight? A chance to spend some free time alone together. Some good concerts. An evening in a small café with jazz 
duo playing Brazilian jazz. Things like that. 
Still eager to make it to the Caribbean, but looks as though we'll have to wait. 
From: jeffrey E. [mailto:jeevacation@gmail.com] 
Sent: Saturday, June 25, 2016 11:54 AM 
To: Noam Chomsky 
Subject: Re: 
what was the highlight.? caribean is close to brazil, if you wanted you are always welcome and valeria can 
meet you there. 
On Sat, Jun 25, 2016 at 11:51 AM, Noam Chomsky > wrote: 
Got back a few days ago. Right now at the Cape for a few days. After that Valeria is off to Brazil and I'll be in 
Cambridge until she comes back. 
From: jeffrey E. [mailto:jeevacation@qmail.com] 
Sent: Saturday, June 25, 2016 8:23 AM 
To: Noam Chomsky 
Subject: 
now where? 
please note 
HOUSE OVERSIGHT 025942 
The information contained in this communication is 
confidential, 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 025943 
"
IMAGES-011-HOUSE_OVERSIGHT_031327.txt,"From: Gmax [gmax1@ellmax.com]

Sent: 5/18/2011 11:27:04 AM
To: jeevacation@gmail.com
Subject: Re:

Importance: — High

a--- Original Message -----

From: Jeffrey Epstein <jeevacation@gmail.com>
To: Gmax

Sent: Wed May 18 06:37:36 2011

Subject:

do you have photos from our clinton trip to africa

Bis Bis Bis hs Bis ois hs 2s 2s fs 2s 2S IS fs 2s Bis fe 2 is fe 2 is Bhs 2h 2s 28s ahs 2s 2S fs fe 2s OIE fe 2 is fe 2 is ais fe fs 28s aft of 2fs ahs oft 2s 2fs fe fe afs afk 2k 2fs afc 2c afk

The information contained in this communication is
confidential, 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_031327
"
IMAGES-012-HOUSE_OVERSIGHT_032496.txt,"From: Darren Indyke

Sent: 2/17/2017 8:34:47 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re: update

Importance: — High

DARREN K. INDYKE
DARREN K. INDYKE, PLLC
575 Lexington Avenue, 4th Floor
New York, New York 10022

BS DS IS IS DIS Ig OIC BIS DIS 2S ik DIC Ig 24S BIS DIS 2S 2k DIS Ik 24S BIC DIS 24S DiC DIC ik DIC BIS DIR 2S 2k DIC IC 24S IS DIS SIC DC DIS IC DIC BIC DIR SIC DIC DIC 2g 34S BIC DIC FIC DC DIC 2g 24S IC DIC SIC DC DIC IC 24S IC OIC 5S 24S DIC 2g 24S IC 24S SIC Df DIC 2g DIC Dk OIC BIC 24g OIC 2k OIC ik 2Ie 2s 2fe 2c 2
Big 2s 2S 2g 2s i 2Ik 5s 2 2s 2g 2

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 - © 2017 Darren K.

Indyke, PLLC — All rights reserved.

Be ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee
BS 2fe 3S 2 2s 2g 24s 2g 2k is 2k 2s 2k

On Feb 17, 2017, at 3:26 PM, jeffrey E. <jeevacation@gmail.com> wrote:

DARREN K. INDYKE
DARREN K. INDYKE, PLLC
575 Lexington Avenue, 4th Floor

HOUSE_OVERSIGHT_032496
"
IMAGES-012-HOUSE_OVERSIGHT_032482.txt,"All the artists we have in mind or send to you are people we have direct connections with. Not just their
studio, but also their home. They are people the work of whom we follow, and many of them are already
friendly (Arianna, Cali have had dinner or stayed home).

The idea is absolutely to have an impact on the ecosystem and to make a difference by supporting great
artists when they need it.

Galleries references are important, because galleries allow artist to reach a broader audience. We would go
directly to the source.

This is why it's important for me to go to LA or Berlin (or elsewhere) because those artists are not rich yet,
they dont travel so much. They belong to a scene, and it does make a big difference to them if you connect
in person.

The spirit is to have an impact on young, talented folks, and absolutely to stay at the source.

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 inant vc cie:

Gentlemen

| hope you are having a great week.

In LA hoping to begin acquiring pieces: are we on?
If not yet, when please

thanks

HOUSE_OVERSIGHT_032482
"
IMAGES-011-HOUSE_OVERSIGHT_031333.txt,"From: ee

Sent: 6/18/2011 2:51:44 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: The European Union Times

Importance: — High

Sent from my iPad

Russia Says IMF Chief Jailed For Discovering All US Gold is
Gone

A new report prepared for Prime Minister Putin by the Federal Security Service (FSB) says that former
International Monetary Fund (IMF) Chief Dominique Strauss-Kahn was charged and jailed in the US for sex
crimes on May 14th after his discovery that all of the gold held in the United States Bullion Depository located
at Fort Knox was ‘missing and / or unaccounted’ for.

According to this FSB secret report, Strauss-Kahn had become “increasingly concerned” earlier this month
after the United States began “stalling” its pledged delivery to the IMF of 191.3 tons of gold agreed to under
the Second Amendment of the Articles of Agreement signed by the Executive Board in April 1978 that were to
be sold to fund what are called Special Drawing Rights (SDRs) as an alternative to what are called reserve
currencies.

This FSB report further states that upon Strauss-Kahn raising his concerns with American government officials
close to President Obama he was ‘contacted’ by ‘rogue elements’ within the Central Intelligence Agency (CIA)
who providedhim ‘firm evidence’ that all of the gold reported to be held by the US ‘was gone’.

Upon Strauss-Kahn receiving the CIA evidence, this report continues, he made immediate arrangements to
leave the US for Paris, but when contacted by agents working for France’s General Directorate for External
Security (DGSE) that American authorities were seeking his capture he fled to New York City’s JFK airport
following these agents directive not to take his cell-phone because US police could track his exact location.
Once Strauss-Kahn was safely boarded on an Air France flight to Paris, however, this FSB report says he made
a ‘fatal mistake’ by calling the hotel from a phone on the plane and asking them to forwarded the cell-phone
he had been told to leave behind to his French residence, after which US agents were able to track and
apprehend him.

Within the past fortnight, this report continues, Strauss-Kahn reached out to his close friend and top Egyptian
banker Mahmoud Abdel Salam Omar to retrieve from the US the evidence given to him by the CIA. Omar,
however, and exactly like Strauss-Kahn before him, was charged yesterday by the US with a sex crime against
a luxury hotel maid, a charge the FSB labels as ‘beyond belief’ due to Omar being 74-years-old and a devout
Muslim.

HOUSE_OVERSIGHT_031333
"
IMAGES-005-HOUSE_OVERSIGHT_018958.txt,"lean a cn ae ce ee

Date: 7 /13/06 PALM BEACH POLICE DEPARTMENT Page:
Time: 9:27:55 Incident Report Program: CMS301L
ee b6
b7C

HOUSE_OVERSIGHT_018958 |
"
IMAGES-002-HOUSE_OVERSIGHT_012915.txt,"Contents xix

18 Advanced Self-Modification: A Possible Path to Superhuman AGI........ 317
L8el JPOAWEtIOH, «205 ses emtes Cees ENNOE LE SMES MEME SEMS SERS EME!s dees ems 317
18.2 Cognitive Schema Learning .......... 0.000 e cee eee eens 318
18.3 Self-Modification via Supercompilation ..............0..00 000 cee eee 319

18.3.1 Three Aspects of Supercompilation .............0..00 000022 eee eee ee 321
18.3.2 Supercompilation for Goal-Directed Program Modification............. 322
18.4 Self-Modification via Theorem-Proving ........... 0.00 eee eee eee 323

A Glossary ..... 0.00000 tne teen eee 325
A.1 List of Specialized Acronyms.........0.. 00 0c cece eee eee eee 325
A.2 Glossary of Specialized Terms ........... 00000. c cece eee teen eee 326
References 2.0... eet et ete eee t eee 343

HOUSE_OVERSIGHT_012915
"
TEXT-001-HOUSE_OVERSIGHT_026287.txt,"From: 
Sent: 7/4/2018 1:23:17 PM 
To: jeevacation@gmail.com 
Subject: Re: Hello 
Importance: High 
By the way, your friend dershowitz is in hog heaven. He gets on every talk show on this issue, then he writes a 
piece about his friends now hate him, and today the Times has a piece about him writing a piece about how his 
friends hate him. He might just be the Kim Kardashian of the legal scene. 
On Wednesday, July 4, 2018 jeffrey E. jeevacation@gmail.com> wrote: 
we're on the same team. strzok. testimony was that discussions with lovers , often include embellishments. 
and not indicative of non professionalism. I believe he said nothing more than it referenced"" andys 
office"". . paige says andy was there. how many other people were there ? were strzok and paige. off in the 
corner talking to each other. was mccabe on the phone? you know that taking emails alone is not 
meaningful. . isnt it a but much to say that prosecutors that have strong opinions . should be looked out with 
skepticism? who doesnt have bias. . strzok had many neg hillary opinions. . - michael cohen. michael 
flynn.. are not fictions created by mueller ? how are you ? 
On Wed, Jul 4, 2018 at 8:31 AM, wrote: 
Gotti was an anomaly because of his personality (some agents loved him and some hated him); but I get your 
point. Couple of things: 
1. This the investigation of the President. It is only as good as public confidence in it can be (subtracting the conspiracy 
theorists on both sides). We just can't have someone with this kind of political bias as a lead investigator. But more 
importantly, he was not alone. He was just stupid enough to show it in office emails. We don't yet know what his private 
emails showed. Strzok, however, says that he met with McCabe - the number 2 guy in the FBI - and in his office 
discussed how best to stop Trump from becoming President. That just cannot be tolerated. Plus, if I find any evidence 
of personal or other extraneous animus in any case by any agent or prosecutor, I view it as an open invitation for cross 
examination and any other exploitation possible as it cannot be an accepted part of the process. 
2. In this whole matter, I am most disturbed by the composition of the Mueller team and it seems to me that if we are to 
learn anything from the IG's report it is the importance of having an investigation conducted above-board without 
personal and political baggage. Mueller had a whole universe of lawyers from around the country to choose from to 
make up his team. He purposefully chose a murderer's row of the worst. I can go one by one; but I will spare you. Here 
are a couple of examples: 
A. Andrew Weissmann was known in the EDNY as ""The Pathological Liar"" after the SNL character. He literally would 
withhold exculpatory evidence throughout the case and then one day when defense counsel went to the bathroom or 
lunch, stick the documents under others on his table and tell the judge the lawyer had it all along. I have been brought 
into a case in which he lied from start to finish - and now his rats have come to me to admit their role in it - to get murder 
convictions in two cases. He has been cited by judges for his misconduct and he runined both Arthur Anderson and 
Enron through his work, all of which was rejected by the higher courts. He also is a Trump hater and Clinton 
sycophant. Mueller knows Weissmann's conduct up close and personal. He chose Weissmann for his chief counsel at 
the FBI years ago. 
HOUSE OVERSIGHT 026287 
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 I don't want that kind 
of character around. I 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. 
I don't personally believe Russia affected the election at all; but I certainly am not qualified to say. I 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. I am friends for a long time with the IG. If they had picked him to head up the team, 
I would not be a weekly guest on Hannity tv and radio (I never would have been asked), as I know he would pick a team 
of honest folks from across the spectrum. 
-----Original Message----- 
From: jeffrey E. <j_qevacationagmail.com> 
To: David Schoen __________________________ 
Sent: Wed, Jul 4, 2018 8:10 am 
Subject: Re: Hello 
is it overblown. ? all mob prosecutors have strong feelings towards their targets. I 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: 
I am obsessed with prosecutorial and FBI misconduct wherever it rears it ugly head and i am 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. 
I assume you were just flipping the channels. 
Hope you are doing well. I 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. I hope the cases are all behind you now. I would have liked to have helped; but i guess you and your team 
decided on a different direction. Whatever works best. 
On Wednesday, July 4, 2018 jeffrey E. 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. I hope all the litigation is well behind you and things are 
going well 
Take care. 
David 
David I. Schoen 
HOUSE OVERSIGHT 026288 
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 jeevacationagmail.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 jeevacationagmail.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 026289 
"
IMAGES-010-HOUSE_OVERSIGHT_029135.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

HOUSE_OVERSIGHT_029135
"
IMAGES-005-HOUSE_OVERSIGHT_018780.txt,"HOUSE_ OVERSIGHT 018780
"
TEXT-002-HOUSE_OVERSIGHT_033354.txt,"From: Nicholas Ribis 
Sent: 5/7/2019 11:53:10 PM 
To: Jeffrey Epstein [JEEyacation@gmail.com] 
Subject: NYTimes: Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses 
Importance: High 
Here's a link from The New York Times that I thought you'd find interesting: 
Newly obtained tax information reveals that from 1985 to 1994, Donald J. Trump's businesses were in far 
bleaker condition than was previously known. 
See More...  
Get The New York Times on your mobile device  
Sent from my iPhone 
HOUSE OVERSIGHT 033354 
"
TEXT-001-HOUSE_OVERSIGHT_010735.txt,"﻿Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 1 of 19
JANE DOE #1 AND JANE DOE #2,
vs.
Plaintiffs,
UNITED STATES OF AMERICA,
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
Case No. 08-80736-CIV-MARRA/JOHNSON
Defendant.
________________________________________/
REPLY IN SUPPORT OF MOTION
FOR LIMITED INTERVENTION BY ALAN M. DERSHOWITZ
Alan M. Dershowitz hereby replies in support of his Motion for Limited Intervention (DE
282). Prof. Dershowitz’s only interest in joining this case is to strike the false, sensational and
irrelevant allegations against him. In its response (DE 290), the government compellingly set
forth the many reasons why Jane Does #3 and #4’s request, filed over 6 years after the
commencement of the CVRA case, should be denied. Jane Doe #3’s false allegations against
Prof. Dershowitz were not included in her statement to the government, were not made to the
FBI when she was initially contacted by that agency, were not included in her civil action against
Epstein in 2009, were not included in her recorded interview with her attorneys in 2011 and were
not included in her interview with the British press in 2011. These allegations first appeared in
Jane Doe #3’s Motion for Joinder in December 2014 (DE 279), and therefore have absolutely no
relevance as to whether there was a CVRA violation when Epstein and the government executed
the Non-Prosecution Agreement in September 2007. The request for limited intervention was
initiated to give Dershowitz a voice in the proceedings if and only if the Court allowed the
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 2 of 19
joinder of Jane Doe 3 and her untimely allegations to the underlying CVRA case. If the Court
rejects the pending motion for joinder (DE 279), then the Court should strike the scurrilous
allegations against Dershowitz, or, alternatively, determine the possible mootness of his Motion
for Limited Intervention. Of course, if the Court strikes the allegations against him sua sponte,
Prof. Dershowitz will withdraw his motion for limited intervention. However, if the Court grants
Jane Does #3 and #4’s motion for joinder, then Prof. Dershowitz’s motion for limited
intervention should be granted for such purposes as may be appropriate including submitting a
motion to strike or other relief, so as to give him an opportunity to defend himself against these
malicious and false allegations. In support of his Reply in Support of his Motion for Limited
Intervention, Prof. Dershowitz states as follows:
Despite swearing under oath to her falsehoods about Prof. Dershowitz, Jane Doe #3
struggles to justify her defamations as having any relevance to the issues in this proceeding. Her
Response to Prof. Dershowitz’s Motion for Limited Intervention (DE 291) (herein “Response”)
offers no legitimate reason for defaming Prof. Dershowitz in her Joinder Motion, and she has no
right to continue to do so in this Court. Strikingly, the Response does not explain why Jane Doe
#3, with an obvious financial motive for fabrication of salacious accusations, waited almost
seven years to lob a stink bomb into a proceeding in which she has no right to participate. The
Response does not account for why Jane Doe #3 never once asserted her accusations about Prof.
Dershowitz until a month ago, even though the alleged transgressions supposedly occurred some
fifteen years ago. Although neither Jane Doe #3 nor anyone else had previously asserted any
improper sexual contact with Prof. Dershowitz, now Jane Doe #3 cynically exploits the yoke of
victimhood to victimize others.
2
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 3 of 19
At bottom, Jane Doe #3’s Response is nothing but a paper-thin pastiche of conspiracy
theory and outright misrepresentation that crumbles upon examination. Invocations of the Fifth
Amendment by nonparty witnesses in response to innocuous questions about Prof. Dershowitz
are said to take on a “sinister cast”; yet these same witnesses invoked their right against selfincrimination
to almost every question asked of them, including their parents’ names. Prof.
Dershowitz, as Epstein’s former legal counsel, is one of hundreds of people listed in an address
book purloined by Jeffrey Epstein’s criminal butler; yet because Prof. Dershowitz’s name is
circled in the address book by an unknown person for unknown reasons, the argument is made
that Prof. Dershowitz must have sexually abused a minor. The record shows that while Prof.
Dershowitz and Jane Doe #3 are both separately mentioned in the flight logs of Mr. Epstein’s
private plane, they are never listed on the same flight. Plaintiffs, in turn, falsely claim that
somehow Prof. Dershowitz single-handedly orchestrated the destruction of logs without any
evidence of ability or possibility to do so. The increasingly unfounded accusations and insults
are both sad and irresponsible.
It is precisely this toxic mix of irrelevancy, malicious falsehood, and empty accusation
that justifies Prof. Dershowitz’s intervention to, at least, strike the allegations against him. Jane
Doe #3 never had any need to drag Prof. Dershowitz into this action besides to wrongfully use
his good name and international stature to stir up media interest in her filing. This is
impertinence, plain and simple, and it has no place in this Court. Prof. Dershowitz therefore
urges the Court to either allow him to intervene to strike Jane Doe #3’s defamatory allegations or
deny Jane Doe #3’s Joinder Motion so she is no longer afforded the ability to use the docket of
this Court to defame others without being held accountable and strike these allegations from the
record.
3
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 4 of 19
I. Jane Doe #3’s Continued Smears of Prof. Dershowitz
Demonstrate His Need to Intervene
Jane Doe #3 and her counsel’s actions over the past month have confirmed that Prof.
Dershowitz’s request for intervention stands upon dramatically different circumstances than
other intervention motions in this case, or any other case for that matter. Simply put, the scope
and tenor of their attacks against Prof. Dershowitz differ both in degree and in kind from other
reputational muggings conducted in the case before this Court. Nor is there a single reported
decision in federal case law in which the vitriol, severity, and length of the attacks against a
nonparty approach those levelled against Prof. Dershowitz here. What has become further
apparent is that if Jane Doe #3’s Motion for Joinder is granted and Prof. Dershowitz is not
allowed to intervene, Jane Doe #3 and her counsel will proceed with their attacks against him, all
the more emboldened with complete impunity.
While Jane Doe #3 asks to “prove” her allegations against Prof. Dershowitz, she argues
paradoxically that he does not have “any direct interest” in defending these allegations. Instead,
she directs Prof. Dershowitz to defend the allegations that she makes in a contrived lawsuit filed
by her attorneys against him in Broward County Circuit Court for defamation of them.
Moreover, the law cited by Prof. Dershowitz, including the Sackman and Penthouse cases,
demonstrates a need and entitlement to intervene to vindicate his legitimate reputational interest
that no other party is situated to protect. “The individual’s right to the protection of his own
good name reflects no more than our basic concept of essential dignity and worth of every
human being – a concept at the root of any decent system of ordered liberty…” Krauser v.
Evolution Holdings, Inc., 975 F.Supp. 2d 1247, 1260 (S.D. Fla. 2013); quoting Spencer v.
Kemna, 523 U.S. 1, 24 n. 5 (1998) (Stevens, J., dissenting).
4
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 5 of 19
In an effort to cite contrary law to the Court, Jane Doe #3’s Response takes remarkable
liberties in describing what is claimed to be the law to Court. For example, the Response quotes
Calloway v. Westinghouse Elec. Corp., 115 F.R.D. 73, 74 (M.D. Ga. 1987) for the proposition
that “a witness’ interest in his reputation alone . . . does not constitute the required ‘interest
relating to the property or transaction which is the subject of the present action’ necessary to
allow intervention as a matter of right.” Yet what is excised from that quote through the ellipses
is the most crucial part of the case: “following a finding by a court that he is not credible.”
Calloway actually stands for the proposition that a witness cannot intervene in a case as of right
if the Court has found him not credible in one of its orders. This finding has never been made as
to Prof. Dershowitz either in this Court, or in hundreds of others in which he has appeared.
II.
Jane Doe #3’s Lies About Prof. Dershowitz
Are Wholly Irrelevant to This Action
Meanwhile, Jane Doe #3 fails to come up with a single credible reason for naming Prof.
Dershowitz in her Joinder Motion. First, she claims she needed to drag Prof. Dershowitz’s name
through the mud to prove that Jane Doe #3 was a victim of sexual abuse by Jeffrey Epstein. Yet,
in her Joinder Motion, she states that “[t]he Government was well aware of Jane Doe #3 when it
was negotiating the NPA, as it listed her as a victim in the attachment to the NPA.” (DE 279 at
6.) If she was already listed as a victim on the NPA, why would they need to prove that further
by adding pages of scurrilous allegations against various individuals? And why did they have to
mention Prof. Dershowitz by name, when elsewhere they claim that “numerous prominent”
individuals also allegedly committed sexual abuse, but keep those alleged figures anonymous?
The bad faith against Prof. Dershowitz is apparent 1 .
1 Similarly, Jane Doe #3’s allegations that she named Prince Andrew because of outstanding
5
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 6 of 19
Second, Jane Doe #3 claims that she needed to defame Prof. Dershowitz and others in the
Joinder Motion because of discovery disputes between the government and Jane Doe #1 and Jane
Doe #2. This does not even make sense, legally or factually. Jane Doe #3’s right to join in this
case has nothing to do with Jane Doe #1 and Jane Doe #2’s entitlement to documents in
discovery. In fact, the discovery requests that Jane Doe #3 cites to in her Response as purported
cover for their sliming of Prof Dershowitz show that their argument is factually bogus. Prof.
Dershowitz is mentioned in only two of twenty-five requests for production propounded by Jane
Doe #1 and Jane Doe #2. (See Jane Doe #1 and Jane Doe #2’s First Request for Production to
the Government Regarding Information Relevant to Their Pending Action Concern [sic] the
Crime Victims Act, at DE 225-1 at 26-38.) Both requests, nos. 8 and 21 seek his
communications with the government in his role as Mr. Epstein’s defense attorney. There is no
issue of complicity or knowledge in any misconduct. Moreover, a fact conveniently omitted by
Jane Doe #3 is that Prof. Dershowitz is one of eleven lawyers whose communications Jane Doe
#1 and Jane Doe #2 sought in the requests for production. As the Court knows, Prof. Dershowitz
had no material connection to this case—as to the merits or as to discovery—before he was
dragged in by Jane Doe #3.
Third, Jane Doe #3 claims that the smears against Prof. Dershowitz are relevant to show
that Prof. Dershowitz had a motive to negotiate “confidentiality” and “blank check” provisions
discovery requests regarding her belief that Prince Andrew was somehow involved in “lobbying
efforts to persuade the Government to give him a more favorable plea arrangement,” and because
her allegations against Prince Andrews occurred in London, therefore “affect[ing] foreign
commerce” are patently absurd. (DE 291 at 20 and 18, fn. 10.) Because Jane Doe #3’s other
allegations are replete with allegations of interstate activity and because implications of Prince
Andrew’s involvement in “lobbying” for the NPA are entirely nonsensical, it is obvious that the
inclusion of claims against Prince Andrew were included solely for their intended audience: the
media.
6
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 7 of 19
into the NPA entered into between the government and Mr. Epstein. Again, this argument makes
no sense in the context of this case. 2
The inclusion of certain provisions in the agreement simply
has nothing to do with whether the government complied with its obligations under the Crime
Victims’ Rights Act (“CVRA”). If anything, it is the government’s motive that would be at
issue—although even that point is doubtful—not the defense attorneys’. Moreover, because the
first time Jane Doe #3 made these contemptible allegations against Prof. Dershowitz was in her
Motion for Joinder in December 2014, those allegations are irrelevant as to the inquiry of
whether Jane Doe #3’s rights under the CVRA were violated at the time the NPA was entered.
The government confirms that when Jane Doe #3 was contacted by the FBI about this
investigation, she clearly “stated that she did not want to be involved in the federal
investigation.” (DE 290 at 6.) She was not “kept in the dark” as she alleges in her Response.
(DE 291 at 25.) Instead, she apparently chose to stay in the dark. Moreover, she did not make
any allegations against Prof. Dershowitz at the time the NPA was entered, nor did she made any
allegations against Prof. Dershowitz in her action for civil damages in 2009, nor did she make
any allegations against Prof. Dershowitz in her tape recorded interview with her attorney in
2011, nor did she make any allegations against Prof. Dershowitz in her interview with the British
press in 2011. The first time these allegations surfaced were in connection with Jane Doe #3’s
Motion for Joinder in this action. The allegations have absolutely no relevance to the underlying
issue of whether Jane Doe #3 was “treated with fairness” when the NPA was entered, as the
allegations against Prof. Dershowitz did not surface until approximately eight years later.
2 Prof. Dershowitz, along with many other lawyers, was involved in negotiating the plea bargain
under which Epstein agreed to plead guilty to State charges in exchange for an agreement not to
prosecute him federally. However, he was not involved in drafting the text of the NPA. In fact,
two other lawyers did the drafting.
7
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 8 of 19
Moreover, if the government had any reason to believe that Prof. Dershowitz was involved in
any criminal activity they would have immediately demanded his recusal rather than continuing
to work with him as one of Epstein’s attorneys in negotiating a plea bargain.
Fourth, Jane Doe #3 then makes the facially absurd and libelous claim that somehow
Prof. Dershowitz must have drafted and benefited from the “co-conspirators” clause of the NPA.
But the link between the need to include these allegations and their ability to rescind the “coconspirators”
clause goes completely unexplained. The allegations are completely gratuitous, as
there is no such link. No such claim existed until fabricated by Jane Doe #3 many years after the
NPA was signed and fully performed. Additionally, as stated in Prof. Dershowitz’s Supplement
to his Motion for Limited Intervention, this “co-conspirator” provision “was intended to apply to
four alleged co-conspirators, who were named in the original NPA and later redacted at their
request…. Alan Dershowitz was never alleged to be a potential co-conspirator.” (DE 285 at 4 3 .)
Incredibly, Jane Doe #3’s counsel, Bradley Edwards, agreed with this reading of the NPA
in his Statement of Undisputed Fact during his own personal lawsuit against Jeffrey Epstein
(Jeffrey Epstein v. Scott Rothstein and Bradley J. Edwards, lawsuit (Case no. 502009-CA-
040800)) in Palm Beach County Circuit Court. There, Edwards explained that these coconspirators
were certain individuals who “procured minor females to be molested by Epstein.”
(DE 291-15 at ¶ 27.) Only now, when convenient as a way to try to justify allegations against
Prof. Dershowitz does Edwards argue (on behalf of Jane Doe #3) that the “co-conspirator”
provision was actually intended to protect Prof. Dershowitz.
3 Moreover, it is unlikely that anyone who had sexual contact with Jane Doe #3, or any other
minor involved in the Epstein case, would be considered to be a “co-conspirator.” Instead those
individuals would be substantive perpetrators, not covered by the agreement.
8
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 9 of 19
Fifth, Jane Doe #3 claims that she needed to include Prof. Dershowitz in her filing
because her CVRA claim of “unfair” treatment “implicates a fact-sensitive equitable defense
which must be considered in the factual context of the entire interface between Epstein, the
relevant prosecutorial authorities and the federal offense victims.” The “facts” to which this
“defense” is sensitive, even if Jane Doe #3 is allowed to intervene, are the interactions between
the prosecutors and Jane Doe #3, and not anything pertinent to Prof. Dershowitz personally. Nor
are attorney-client communications between Epstein and his counsel at issue, or the proper
subject of discovery in this action under any scenario.
III.
Jane Doe #3’s Efforts to Bolster Her Lies About
Prof. Dershowitz Are Remarkably Thin
Setting aside the utter irrelevancy of the allegations against Prof. Dershowitz, having
created an international imbroglio by their ill-conceived libels of Prof. Dershowitz, one would
expect that Jane Doe #3 would be able to muster at least some credible support for their
allegations. Yet the two “incontestable” facts she leads with in support of her claim that Prof.
Dershowitz is a serial sex abuser are (1) that Mr. Epstein and Prof. Dershowitz were friends; and
(2) Prof. Dershowitz visited Mr. Epstein’s house. Of course, these supposedly “incontestable”
facts are evidence of nothing.
In the affidavit she submitted to this court, Jane Doe #3’s lack of credibility is readily
apparent. She has now sworn under oath, repeating a fragrant lie that she had previously sold to
a British newspaper: namely that “former President Bill Clinton was present on the island
[Jeffrey Epstein’s private island] at a time when [Jane Doe #3] was also present on the island.”
(DE 291-1 at ¶ 53.) In this easily discredited fabrication 4 , Jane Doe #3 expounded in imaginative
4 The name of the publication is intentionally omitted as Jane Doe # 3 reveals her identity
9
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 10 of 19
detail about her fictional meeting with former President Clinton, providing an elaborate
description about how Mr. Clinton and his secret service detail somehow allowed Ghislaine
Maxwell, then a novice helicopter pilot, to fly all of them to Jeffrey’s Epstein’s private island on
Epstein’s black helicopter, as well as details about the specific place at the dinner table at which
she and Mr. Clinton were seated 5 . Id. Jane Doe #3 also gave this British newspaper an account
of yet another fictional meeting on the same island, but this time with former vice president Gore
and his then wife, Tipper, providing specific details purportedly to enhance the value of her
fictional story: “The Gores seemed like a beautiful couple when I met them… Jeffrey [Epstein]
didn’t ask me to give him a massage… I was planning on voting for him when I turned 18. I
thought he was awesome.” On information and belief, Prof. Dershowitz represents to the Court
therein. A copy of the publication, or a link to the article, will be provided to the Court at the
Court’s request.
5 The article states, in relevant part: “On one occasion,[Jane Doe #3] adds, Epstein did invite two
young brunettes to a dinner which he gave on his Caribbean island for Mr. Clinton shortly after
he left office. But, as far as she knows, the ex-President did not take the bait. “‘I’d have been
about 17 at the time,’ [Jane Doe #3] says. ‘I flew to the Caribbean with Jeffrey and then
Ghislaine Maxwell went to pick up Bill [Clinton] in a huge black helicopter that Jeffrey had
bought her. She’d always wanted to fly and Jeffrey paid for her to take lessons, and I remember
she was very excited because she got her licence around the first year we met. I used to get
frightened flying with her but Bill had the Secret Service with him and I remember him talking
about what a good job she did. I only ever met Bill twice but Jeffrey had told me that they were
good friends. I asked, ‘How come?’ and he laughed and said, ‘He owes me some favours.’
Maybe he was just joking but it constantly surprised me that people with as much to lose as Bill
and [Prince] Andrew weren’t more careful. Bill must have known about Jeffrey’s girls… We all
dined together that night. Jeffrey was at the head of the table. Bill was at his left. I sat across
from him. [], Ghislaine’s bonde British assistant, sat at my right. Ghislaine was at Bill’s left and
at the left of Ghislaine there were two olive-skinned brunettes who’d flown with us from New
York. I’d never met them before. I’d say they were no older than 17, very innocent-looking…
Maybe Jeffrey thought they would entertain Bill, but I saw no evidence that he was interested in
them. He and Jeffrey and Ghislaine seemed to have a very good relationship. Bill was very
funny. He made me laugh a few times. And he and Jeffrey Ghislaine told blokey jokes and the
brunettes listed politely and giggled. After dinner I gave Jeffrey an erotic massage. I don’t
remember seeing Bill again on the trip but I assume Ghislaine flew him back.’”
10
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 11 of 19
that evidence will show that former president Clinton, former vice president Al Gore, and Tipper
Gore never set foot on Epstein’s private island, and that in all events Jane Doe #3’s detailed
accounts are not merely preposterous on their face but in fact entirely false and her sworn
statement to this court is perjurious.
Indeed, while the points raised above show a complete lack of investigation into the
credibility of the woman making these scurrilous allegations 6 , what is most remarkable about
Jane Doe #3’s Response is what it omits. Approximately six years ago, Jane Doe #3 took
advantage of the NPA’s provisions, sued Mr. Epstein and received a monetary settlement.
Ironically, Jane Doe #3 now seeks to overturn the very NPA which required Epstein to waive his
right to contest liability by moving to join the instant action which seeks to rescind that very
agreement.
Yet, she apparently never once mentioned Prof. Dershowitz’s now supposedly systematic
sexual abuse of her to the prosecutors or to her own lawyer. No explanation is given for this
monumental inconsistency. Nor, despite his supposed status as a co-conspirator in a scheme to
cover up an underage sex abuse ring, is there any explanation given for the fact that Prof.
Dershowitz was never even investigated—or even mentioned—as a potential suspect.
Meanwhile the present case has been proceeding for the last six and a half years, but no
explanation has been given for the timing of Jane Doe #3’s effort to join this case only last
month.
6 Prof. Dershowitz reserves the right to promptly file a succinct supplement to this Reply brief
with information which he is in the process of confirming presently.
11
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 12 of 19
IV.
Prof. Dershowitz Immediately Responded to Jane Doe #3’s Allegations
Against Him by Asking to Defend his Reputation
Jane Doe #3 also argues that Prof. Dershowitz should not be allowed to intervene because
“he has declined to defend his reputation in other actions.” (DE 279, at 12.) This is
demonstrably false. It is without question that the Motion for Joinder filed by Jane Doe #3 on
December 30, 2014 (DE 279) was the first time anyone has ever alleged that Prof. Dershowitz
had any sexual contact with a minor. It necessarily follows that this is the first opportunity Prof.
Dershowitz has had to defend his reputation related to “his involvement in Epstein’s offenses.”
In fact, just six days after these venomous allegations were made, Prof. Dershowitz filed his
Motion for Limited Intervention. (DE 282.)
More specifically, Jane Doe #3 argues that when the civil lawsuit was brought by “one of
the underage females” against Epstein in 2009 (Doe v. Epstein, No. 9:08-80893-KAM (S.D.
Fla.), “Dershowitz understood that counsel for many of Epstein’s victims believed that mounting
evidence pointed toward his role extending beyond merely being an attorney for Epstein.” (DE
279 at 13.) This, too, is demonstrably false. Despite this rank and self-serving speculation about
what Prof. Dershowitz “understood,” there is not one piece of evidence which points to any
allegations that he engaged in any sexual contact with any minor, or even observed any criminal
activity, prior to the December 30, 2014 Motion for Joinder. Instead, the deposition testimony
which Jane Doe #3 points to simply states that Prof. Dershowitz visited Epstein’s home
(Deposition Testimony of Alfredo Rodriguez at 199, 278, 279, DE 291-18, herein, “Rodriguez
Depo. Tr.”) Rodriguez specifically testified that he has no idea whether Prof. Dershowitz had
any contact at all with any female.
12
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 13 of 19
Q. And did you have any knowledge of why [Dershowitz] was visiting there?
A. No ma’am.
…
Q. And do you have any idea whether or not Mr. Dershowitz was also receiving
massages?
A. I don’t know, Ma’am.
…
Q. As to whether any of those women were ever associated with Mr. Dershowitz would it
be a correct statement that you have absolutely no knowledge?
A. I don’t know, sir.
…
Q. Okay. Were you in any way attempting in your response to Ms. Ezell to imply that
Mr. Dershowitz had a massage by one of these young ladies?
A. I don’t know, sir.
Q. You have no knowledge?
A. No, sir.
(Rodriguez Depo. Tr. at 279, 280, 385, 386.) To be sure, Rodriguez does testify that Prof.
Dershowtiz was at Epstein’s home when young females were present at the home – an allegation
which Dershowitz strenuously denies. However, Rodriguez did not testify that Prof. Dershowitz
saw, interacted with, or touched any of these females. Instead, when asked what Prof.
Dershowitz did “while those girls were at the house,” Rodriguez answered “He will read a book
with a glass of wine by the pool, stay inside.” (Id. at 426, 427.) When asked if Prof. Dershowitz
ever even spoke to any of the girls, or “even knew that they were there” Rodriguez answered “I
don’t know.” (Id. at 427.) This is consistent with the fact that Epstein’s home is very large and
has separate closed-off quarters where Epstein resided. Prof. Dershowitz never stepped into
these private quarters.
Jane Doe #3 also relies upon the September 8, 2009 deposition testimony of Mr. Juan
Alessi to “corroborate” Jane Doe #3’s sensational and false allegations regarding Prof.
Dershowitz. However, a more complete examination of that testimony reveals that Alessi did
not make any allegations of any wrong doing by Dershowitz. (See, DE 291-17, hereinafter
13
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 14 of 19
“Alessi Depo. Tr.”) Alessi testified that he saw “many celebrities” at the house… [including] a
very famous lawyer[] that I’m sure you know, Alan Dershowitz, who spend [sic] at the house a
couple times.” (Alessi Depo. Tr. 70, 71.) However, Alessi made no allegations of improprieties
against any of these individuals. Jane Doe #3 asks the Court to infer that because Prof.
Dershowitz was at his client’s home, he must have participated in nefarious activities. In fact,
Prof. Dershowitz’s friendship with Epstein consisted of the exchange of academic and
intellectual ideas. At most, Alessi testified that Prof. Dershowitz visited Epstein’s home and
received a massage from an adult massage therapist, which “was a treat for everybody” at the
Epstein home. (Id. at 74) (“Q. Did [Dershowitz] have massages sometimes when he was there?
A. Yes. A massage was like a treat for everybody. If they want it, we call the massage and they
have a massage.”)
Alessi explains that he was referring to massages performed by adult
massage therapists. (Id. at 184) (“Q. All right. And if I understood your testimony is, the ones
the – that is, of the massage therapists as you’ve just described [a hundred, 200 different massage
therapists], you saw some men? A. Yes. Q. You saw more women? A. Yes. Q. And all of the
women, at least from your viewpoint, were 18, 19 or older? A. Yes.”) 7
Messrs. Alessi and Rodriguez did not allege that Prof. Dershowitz received a massage
from any underage females, had any physical contact whatsoever with any underage females, or
witnessed anyone engaging in any inappropriate behavior with any underage females.
Additionally, despite their allegations to the contrary, it is clear that previous testimony from
Rodriguez and Alessi does not corroborate Jane Doe #3’s baseless and utterly false affidavit.
(DE 291-1.)
7 In fact, the only massage Prof. Dershowitz ever received at any of Epstein’s homes was from a
professional massage therapist who was in her 30’s or 40s.
14
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 15 of 19
Next, Jane Doe #3 claims that Prof. Dershowitz declined to defend his reputation in the
Edwards v. Epstein lawsuit (Case no. 502009-CA-040800) in Palm Beach County Circuit Court.
(Opp. to Mtn. to Intervene at 13.) In support of this allegation, Jane Doe #3 argues that her
attorney in the instant matter, Bradley Edwards (through his attorney Jack Scarola) contacted
Prof. Dershowitz to seek his voluntary cooperation in answering questions about Prof.
Dershowitz’s client, Jeffrey Epstein’s conduct. Prof. Dershowitz responded by letter stating
As you may know, I was Jeffrey Epstein’s attorney when he submitted his guilty plea.
Accordingly, “any knowledge” I may have in connection with that plea is privileged
information. If you would let me know what non-privileged information you would seek
from me, I would then be able to decide whether to cooperate.
(DE 291-11.) Dershowitz sent a second letter on or about August 29, 2011 explaining that he
has “never personally observed Jeffrey Epstein in the presence of underage females,” and asking
Edwards’ attorney to provide him with any alleged basis for his unfounded belief. Edwards’
attorney responded by stating that based on “sworn testimony and private interviews” he had
“placed [Dershowitz] in the presence of Jeffrey Epstein on multiple occasions… when Jeffrey
Epstein was in the company of underage females subsequently identified as victims.” (DE 291 at
13, 14.) Again, no allegations were made at that time by Edwards’ attorney, or by anyone else,
that Prof. Dershowitz engaged in any inappropriate conduct or witnessed any inappropriate
conduct related to Jeffrey Epstein and underage females. Instead, Edwards was incorrectly
seeking Prof. Dershowitz’s cooperation for a civil suit between Dershowitz’s client, Jeffrey
Epstein, and Edwards himself. Remarkably, because Prof. Dershowitz did not agree to
compromise his ethical obligations to his client, by voluntarily cooperating with Epstein’s
15
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 16 of 19
adversaries, Jane Doe #3 argues that Prof. Dershowitz should not be allowed to intervene in this
action 8 .
It is clear from the record, however, that Prof. Dershowitz acted immediately to defend
himself the first time he was made aware of any such allegations against him. In fact, just six
days after Jane Doe #3 filed her Motion for Joinder, which included vicious allegations against
him, Prof. Dershowitz filed his Motion for Limited Intervention. (DE 282.) Accordingly, Prof.
Dershowitz should be permitted to intervene for the limited purposes of moving to strike these
outrageous and impertinent allegations.
V. Jane Doe #3’s Reliance on Other’s Invocation of the
Fifth Amendment is Improper and Wholly Unpersuasive
Without a shred of physical evidence or witness corroboration for Jane Doe #3’s
fantasies, she relies on invocations of the Fifth Amendment by Epstein as supportive of an
adverse inference as to Prof. Dershowitz. Given that Epstein was taking the Fifth Amendment
on virtually all questions, and would have responded in the same way had the opposite questions
been asked, there is no inference against Prof. Dershowitz to be made from the invocation of the
Fifth Amendment by Epstein 9 . Epstein’s interest – in declining to answer any questions
whatsoever – was his own personal interest and not that of his lawyers, and lacks even minimal
relevance. Coquina Investments v. TD Bank, N.A., 760 F.3d 1300, 1310-11 (11th Cir.
2014)(adverse inferences from the fifth amendment invocation by third parties allowed only
8 Jane Doe #3’s argument that he has not yet scheduled his deposition in this case, or the recently
filed defamation action, is of no moment. At the appropriate time, Prof. Dershowitz will of
course, appear for his deposition and testify that Jane Doe #3’s allegations as to him are entirely
false. This, however, has no bearing as to whether the Court should permit the limited
intervention Prof. Dershowitz seeks.
9 Had Epstein been asked about anyone – from leading government officials to members
of the clergy – he would have similarly invoked the Fifth Amendment.
16
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 17 of 19
where inference is “trustworthy under all of the circumstances” including relationship, shared
interest and control); Kontos v. Kontos, 968 F.Supp. 400, 407-408 (1997) (no adverse inference
allowed from invocation of Fifth Amendment by sister of civil defendant in absence of “identity
of interests”); Sebastian v. City of Chicago, 2008 WL 2875255 *33-34 (N.D. Ill. 2008)(no
adverse inference from invocation of Fifth Amendment in absence of close family or business
relationship). Similarly, any other witnesses taking the Fifth Amendment and remaining silent to
protect themselves are obviously not creating any kind of evidence against Prof. Dershowitz.
See, Coquina Investments, 760 F.3d at 1310 (11th Cir. 2014).
Conclusion
In conclusion, Prof. Dershowitz has no interest in joining this case other than to strike the
scurrilous and irrelevant allegations against him. If the Court grants Jane Does #3 and #4 motion
for joinder (DE 279), then Prof. Dershowitz’s motion for limited intervention should be granted
for such purposes as may be appropriate including submitting a motion to strike or other relief,
so as to give him an opportunity to defend himself against harmful, defamatory and false
allegations of the worse kind. If the Court rejects the pending motion for joinder, then the Court
should strike the scurrilous allegations against Dershowitz, or, alternatively, determine the
possible mootness of his Motion for Limited Intervention. Of course, if the Court strikes the
allegations against him sua sponte, Prof. Dershowitz will withdraw his motion for limited
intervention.
Respectfully submitted,
/s/ Kendall Coffey
Kendall Coffey, Fla. Bar No. 259681
kcoffey@coffeyburlington.com
Gabriel Groisman, Fla. Bar No. 25644
ggroisman@coffeyburlington.com
17
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 18 of 19
Benjamin H. Brodsky, Fla. Bar No. 73748
bbrodsky@coffeyburlington.com
COFFEY BURLINGTON, P.L.
2601 South Bayshore Drive, PH1
Miami, Florida 33133
Telephone: (305) 858-2900
Facsimile: (305) 858-5261
- and –
Thomas Scott, Fla. Bar No. 149100
thomas.scott@csklegal.com
COLE, SCOTT & KISSANE, P.A.
Dadeland Centre II
9150 South Dadeland Boulevard, Suite 1400
Miami, Florida 33156
Telephone: (305) 350-5300
Facsimile: (305) 373-2294
Counsel for Prof. Alan M. Dershowitz
18
Case 9:08-cv-80736-KAM Document 306 Entered on FLSD Docket 02/02/2015 Page 19 of 19
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the foregoing was served by Notice of
Electronic Filing generated by CM/ECF, on this 2nd day of February, 2015, on all counsel or
parties of record on the Service List below.
SERVICE LIST
/s/ Kendall Coffey
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
Dexter Lee
A. Marie Villafaña
UNITED STATES ATTORNEY’S OFFICE
500 S. Australian Ave., Suite 400
West Palm Beach, FL 33401
(561) 820-8711
Fax: (561) 820-8777
E-mail: Dexter.Lee@usdoj.gov
E-mail: ann.marie.c.villafana@usdoj.gov
Attorneys for the Government
Attorneys for Jane Doe #1, 2, 3, and 4
19
"
IMAGES-010-HOUSE_OVERSIGHT_030464.txt,"From: Jessica Cadwell, Paralegal Po

Sent: 3/8/2011 8:49:29 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: RE:

Attachments:  bclc.gif

Importance: — High

That’s actually a very well written article, and | suspect very true and from the heart.
| was thinking about you today and all the BS....

How are you holding up??

Did you see the comments on Lambiet’s Page re: Spencer ©

BURMAN, CRITTON
LUTTIER & COLEMAN.LLP

YOUR TRUSTED ADVOCATES

Jessica Cadwell, Paralegal - to Robert D. Critton, Jr. & Michael J. Pike
303 Banyan Boulevard | Suite 400 | West Palm Beach | FL 33401

es | www. bclclaw.com

This e-mail contains legally privileged and confidential information intended only for the individual or entity
named within the message. Should the intended recipient forward this message to another person or party, that
action could constitute a waiver of the attorney/client privilege. If the reader of this message is not the intended
recipient, or the agent responsible to deliver it to the intended recipient, you are hereby notified that any review,
dissemination, distribution or copying of this communication is prohibited. If this communications was received
in error, please notify us by reply e-mail and delete the original message.

From: Jeffrey Epstein [mailto:jeevacation@gmail.com]
Sent: Tuesday, March 08, 2011 3:42 PM

To: Jessica Cadwell, Paralegal

Subject:

Jeffrey and Ghislaine: Notes on New York's Oddest Alliance
<http://www.vanityfair.com/online/daily/2011/03/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.

HOUSE_OVERSIGHT_030464
"
TEXT-001-HOUSE_OVERSIGHT_030383.txt,"Date: Saturday, September 24 2016 01:26 PM 
From: jeffrey E. <jeevacation@gmail.com > 
To: Michael Wolff <____________________________ 
>; 
you can also add, fresh politcal juice by stating that Clinton was never on the island. I never met Al gore. no 
diiners on the island with either , no matter how much detail has been in the press. in fact boies Gores attny, 
knows that byt continues to represent the fabricator, the girl who claimed prince andrew had sex with her also 
accused stephen hawking and marvin minsky, . ? ehud barak on a gulfstream with five secruity guards 
looking the other way. ? all ludcrous. 
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 030383 
"
TEXT-002-HOUSE_OVERSIGHT_033432.txt,"﻿12:53 / 
.111 LIE • 
OVERVIEW TOP STORIES MOVIES VIDEOS B 
Alan Dershowitz Replied-
All to the Entire Media to 
Claim Trump Didn't... 
1 day ago 
F14 Alan Dershowitz 
i 0 W Twitter > AlanDersh 
Trump lawye 
and Dersholn 
on Saturday 
11 hours ago 
J s e rs are My false accusers won't D 
)nd Sarah accuse me on Twitter but I b, 
have long will accuse them: I hereby h, 
Roberts sold accuse my false accusers of hi 
hat she met committing the felony of rr 
n's island. perjury and challenge them tc 
cords prove to sue me for defamation. 
the island. They won't ,because they w 
s she has know the truth will land them d, 
ry C and in prison. 0, 
15 hours ago 
About Alan Dershowitz 
"
IMAGES-010-HOUSE_OVERSIGHT_030302.txt,"Former disc jockey and teacher Bruno Moore was charged with that Tuesday.
Investigators say the 34-year-old used the Internet - myspace.com - to recruit a 13-year
old.

Police say Jeffrey Epstein used a 20-year-old woman who had a myspace.com
account to recruit young girls. His actions were sleazy. It would have been good to ask a
jury just how criminal they were.

Palm Beach Post Editorial #3

Spare us the outrage

Wednesday, February 13, 2008

An 11-month police investigation led to an indictment on one felony charge of
solicitation of prostitution. That was in July 2006, and part-time Palm Beacher
Jeffrey Epstein still has faced no repercussions for allegedly preying on underage
girls.

So maybe Mr. Epstein is satisfied that he's getting his money's worth from his large
legal team, which includes Harvard Law School Professor Alan Dershowitz
(remember O.J. Simpson?) and Kenneth Starr (remember Monica Lewinsky?). Jack
Goldberger of West Palm Beach, who's also on the team, told Post columnist Jose
Lambiet in November: ""This case is absolutely going to end without a trial within
the next two months.""

He was wrong, but Mr. Goldberger remains on Mr. Epstein's payroll, feigning
moral outrage at two lawsuits filed this year against the Manhattan money

manager. The lawsuits allege sexual exploitation of teenaged girls, one of

them as young as 14. Said Mr. Goldberger after the first lawsuit, seeking

more than $50 million, was filed on Jan. 24: ""We think this shows what this

case is all about: money."" Yes, it is - Mr. Epstein's effort to buy his way out

of prosecution.

According to the lawyer of a 17-year-old whose parents are suing him, Mr. Epstein
masturbated in front of her (she was 14 at the time) and used a vibrator on her at his
home in February 2005. Another Epstein attorney, Lilly Ann Sanchez dismissed it:
""Jeffrey Epstein did not have sex with this woman.""

For those girls who claim that he did, Mr. Epstein's lawyers maintain that he did not
know their ages, despite a police search of his home and garbage that found phone
messages about the girls’ school schedules and even a high school transcript. For all of
his money, Mr. Epstein's best defense remains ""I didn't know that I was a criminal
pervert""?

Palm Beach Post Editorial #4

Rich man fought the law and he mostly won

Palm Beach Post Editorial

Monday, July 07, 2008

Two years after a grand jury indicted him on a felony charge of solicitation of
prostitution, Jeffrey Epstein finally admitted that he lured a teenage girl to his $8.5
million, 13,000-square-foot Palm Beach mansion for sex. A week ago, the 55-yearold

investment banker began serving 18 months in jail.

HOUSE_OVERSIGHT_030302
"
IMAGES-006-HOUSE_OVERSIGHT_020919.txt,"Debt Level: Why Will It Continue to Rise?

Answer Part 1: Notional Social Security “Trust Fund” Surpluses Likely
Turning Into Deficits Owing to Aging Population

Social Security Cumulative Real Operating Surpluses / Deficits, 1982-2037E

Cumulative Surpluses Projected Cumulative
(1982-2008) Reduced MES Deficits (2009-2037E)
Federal Debt by Could Increase Federal
$1.4T Debt by $11.6T

Social Security Operating Income ($B)

1982 1987 1992 1997 2002 2007 2012E 2017E 2022E 2027E 2032E 2037E

Note: Surpluses & deficits exclude Trust Fund interest income, adjusted for inflation in 2009 dollars.

KP Source: Congressional Budget Office.
(@)E) www.kpcb.com USA Inc. | Income Statement Drilldown 155

Debt Level: Why Will It Continue to Rise?
Answer Part 2: Notional Medicare* “Trust Fund” Surpluses Likely
urning Into Deficits Owing to Aging Population

Medicare Part A* Cumulative Real Operating Surpluses / Deficits, 1982-2037E

$100

& $0

a

E

°

)

=

2 -$100

rs

@

a

fe)

= -$200

a

¢ Cumulative Surpluses Projected Cumulative

2 (1982-2008) Reduced MEN Deficits (2009-2037E)

ks -$300 Federal Debt by Could Increase Federal

$21B Debt by $5T

-$400

1983 1988 1993 1998 2003 2008 2013E 2018E 2023E 2028E 2033E

Note: Data are adjusted for inflation in 2009 dollars. *Only Medicare Part A (hospital insurance) has a trust fund (funded by payroll taxes), Part B (medical
KP insurance) and Part D (prescription drug benefits) are primarily funded by general tax revenue and premium / co-payments. Source: Medicare Trustees.
(@E) www.kpcb.com USA Inc. | Income Statement Drilldown 156

HOUSE_OVERSIGHT_020919
"
IMAGES-004-HOUSE_OVERSIGHT_016482.txt,"rt] Tremaine LLP New York, NY 10020-1104

Robert D. Balin
(212) 489-8230 tel
(212) 489-8340 fax

robbalin@dwt.com

January 4, 2019
VIA HAND DELIVERY eed
‘ sit
Clerk of Court yp 4,
Supreme Court of the State of New York . apr: pW
Appellate Division, First Department 6 cosy 201.
27 Madison Avenue SUE E\e2)

New York, NY 10010

Re: Motion to Unseal Briefs (with Names of Victims Redacted) in People v. Epstein, N.Y.
Co. Index No. 30129/10 (Appellate Division No. 6081

Dear Sir or Madam:

We wnite on behalf of non-party movant NYP Holdings, Inc., publisher of the New York
Post (the “Post”), to withdraw the motion filed by the Post on December 21, 2018 seeking an
order to unseal the briefs submitted by the parties in the above-captioned appeal (with the names
of victims redacted). Pursuant to NYCRR § 1250.2, we write to inform the Court that the Post
hereby withdraws its pending motion without prejudice and expressly reserves the right to refile
the motion. See NYCRR § 1250.2(a) (“Withdrawal of Motion. A moving party may file a
written request to withdraw a motion at any time prior to its determination”).

The Post intends to refile its motion for an order unsealing the briefs (with appropriate
redactions), but has withdrawn its pending motion in response to an affidavit submitted by the
office of the Manhattan District Attomey on December 28, 2018. That affidavit asserts that the
Post was required, but failed, to provide notice of the unsealing motion to “prosecutor’s offices
in Florida” before proceeding with its motion. While the Post firmly believes that it satisfied its
obligations by serving the Manhattan District Attorney’s office with a copy of its unsealing
motion, it wishes to avoid and moot any dispute with the District Attorney’s office over whether
the notice requirements of the relevant statute were met. Accordingly, the Post will refile its
motion to unseal next week and, at that time, will serve its motion papers on the relevant Florida
prosecutors, as well as on the parties to the appeal.

4844-9920-0645v. | 3930033-000135

Anchorage | Bellevue | Los Angeles | New York
Portiand | San Francisco | Seattle | Washington, D.C

HOUSE_OVERSIGHT_016482
"
IMAGES-011-HOUSE_OVERSIGHT_030993.txt,"Which leaves 55 million to do the work.

Of this there are 35 million employed by
the federal government.

Leaving 20 million to do the work.

2.8 million are in the armed forces

HOUSE_OVERSIGHT_030993
"
IMAGES-007-HOUSE_OVERSIGHT_023859.txt,"How to Teach the Twelve Cognitive Processes 1713

This should start as early as 1st grade (or age 5—I don’t really be-
lieve in grades).

How do we do it? We design experiences for children that are age
appropriate and talk about what will happen in those experiences be-
fore they do them and how they can learn from and improve upon
those experiences after they happen. Then they undergo a slightly
more complex experience that builds on what they learned. The pro-
cess is simple enough. The question is what experiences to design,
how to design them.’

I should note that prediction is used as a teaching methodology in
schools today, especially in reading. I suggested this in a book I wrote
about teaching reading in 1978, and since that time (not necessarily
because of that book) it has become more common to use prediction
to teach reading. Also, high school kids are asked to make predictions
in courses that cover current events. Kids predict sporting events or
the sex of their in utero sibling.

The idea that kids can make predictions is not a really radical
point. My point is that prediction has to be the curriculum, not be
ancillary to the curriculum. If we want children to predict well, we
need to help them do that. As it stands now, they are on their own.
As adults who have not been taught to predict well, they will make
poor life decisions, predicting wrongly about how people in their lives
(bosses, spouses, children, co-workers, etc.) will behave toward them
after they take certain actions, for example. Yes, understanding is im-
proved if one predicts the future actions of characters in a book one is
reading—it helps a lot. And, reading is a skill that is very important.
But it also helps to understand how to predict daily actions better and
how to find out whether you were right and how to explain why you
were wrong. Doing this consistently makes you better at predicting
something more important than what an author has a character do
in a story.

How do we get good at making predictions about the outcome of
actions? What outcomes do we need to predict?

Every action we take involves a prediction. When we put one foot
in front of the other in an effort to move our bodies forward, we are
predicting that this will work, that we won't fall down, and that it
won't hurt to do this. Sometimes we do fall or it does hurt. We learn
this and compensate next time. This is learning in its most basic form.
And obviously, we have been learning about walking since we were

HOUSE_OVERSIGHT_023859
"
IMAGES-004-HOUSE_OVERSIGHT_017944.txt,"Case 1:19-cv-03377 Document1 Filed 04/16/19 Page 10 of 28

addition, Epstein’s employees have confirmed that Dershowitz visited Epstein’s Palm Beach and
New York City mansions often, would stay overnight, and was present when the victims of
Epstein’s sex trafficking were there. Dershowitz also visited Epstein’s other homes.

35. In addition to their close friendship, Dershowitz represented Epstein as his
attorney. On or about December 2, 2018, Dershowitz stated that he is still Epstein’s attorney
(Exhibit 9).

36. During the time period that Roberts was being trafficked by Epstein she was
forced to have sex with Alan Dershowitz. Roberts was forced to engage in sexual acts with
Dershowitz in, among other locations, Epstein’s mansion located at 9 East 71*' Street, New York,
New York 10021.

C. The Arrest and Prosecution of Epstein

37. Epstein ultimately pled guilty to procuring a minor for prostitution, and is now a
registered sex offender.

38. In September 2007, Epstein entered into a Non-Prosecution Agreement (“NPA”)
in which the U.S. Attorney for the Southern District of Florida agreed not to prosecute Epstein
for numerous federal sex crimes committed in that District.

39, In the NPA, the United States Attorney for the Southern District of Florida
additionally agreed that it would not institute any federal criminal charges against any potential
co-conspirators of Epstein.

40. Epstein flippantly referred to his sexual abuse of multiple minors, and the slap on
the wrist he had received for it, in a 2011 interview with the New York Post: “Billionaire pervert
Jeffrey Epstein is back in New York City — and making wisecracks about his just-ended jail stint

for having sex with an underage girl. ‘I am not a sexual predator, I’m an “offender,”’ the

10

HOUSE_OVERSIGHT_017944
"
IMAGES-011-HOUSE_OVERSIGHT_031455.txt,"""T've known Jeff for fifteen years. Terrific guy,"" Trump booms from a speakerphone. ""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. No doubt about

it -- Jeffrey enjoys his social life.""

That story will never die.

Landon Thomas, Jr.
Financial Reporter
New York Times

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

ex. 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
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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
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
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HOUSE_OVERSIGHT_031455
"
IMAGES-008-HOUSE_OVERSIGHT_024815.txt,"AEssenseGrows
Ample Organics
Apeks Supercritical
The Apothecarium
Auntie Dolores
Baker Technologies
BAS Research

BDS Analytics
Beboe

Berkeley Patients Group
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Organa Brands

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None of the companies referenced in the report, including those companies referenced in the Top 100 Private Cannabis Companies 2018 and The Green Field 2018, have seen this report prior to publication; therefore, there
isno endorsement of the contents of this report or the inclusion in the Top 100 Private Cannabis Companies 2018 or The Green Field 2018 by any company referenced. In addition, any display of any company’s logo included
in this report is meant solely as an efficient communications method of identifying the company so referenced. Inclusion in the Top 100 Private Cannabis Companies 2018 and the Green Field 2018 does not represent an
investment recommendation or an endorsement of any particular company or product. For additional disclosures and disclaimers, see page 175.

HOUSE_OVERSIGHT_024815
"
IMAGES-001-HOUSE_OVERSIGHT_012213.txt,"NS

10
11
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16
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20

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what I'm talking about?

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Okay. ! hear your voice got very low al! of a sudden so if you don't mind..
Oh, okay.

""ll even hold it. Okay. Can you tell me how you know,
She’s my ex-boyfriend's cousin.

And what's your ex-boyfriend's name?

Zack

is that his last name? J?

Yes.

What schcol does he go to?

{inaudible} Summit Christian School.

And you said he’s your ex-boyfriend. How long ago was that?
| don't know. Like two months, two months and a half ago.
Hew long did you go out with him?

Three weeks...?

Not tong? AndfP You met her through Zack?

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Okay. And do you know a: last name?

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Do you know where she lives?

Yes. She lives on ER streets away from me.

Page Zof 43

OSn9

HOUSE_OVERSIGHT_012213
"
IMAGES-009-HOUSE_OVERSIGHT_026493.txt,"Similarly, although Mr. Horowitz found no evidence that then-FBI Director James Comey was trying
to influence the election, Mr. Comey did make decisions based on political considerations. He told the
inspector general that his election-eve decision to reopen the Clinton email investigation was

motivated by a desire to protect her assumed presidency’s legitimacy.

The inspector general wrote that Mr. Strzok’s text messages “created the appearance that investigative
decisions were impacted by bias or improper considerations.” The report adds, importantly, that “most
of the text messages raising such questions pertained to the Russia investigation.” Given how biases
ineluctably shape behavior, these facts create a strong inference that by squelching the Clinton
investigation and building a narrative of Trump-Russia collusion, a group of government officials
sought to bolster Mrs. Clinton’s electoral chances and, if the unthinkable happened, obtain an

insurance policy to cripple the Trump administration with accusations of illegitimacy.

What does this have to do with Mr. Mueller, who was appointed in May 2017 after President Trump
fired Mr. Comey? The inspector general concludes that the pervasive bias “cast a cloud over the FBI
investigations to which these employees were assigned,” including Crossfire. And if Crossfire was
politically motivated, then its culmination, the appointment of a special counsel, inherited the taint. All
special-counsel activities—investigations, plea deals, subpoenas, reports, indictments and
convictions—are fruit of a poisonous tree, byproducts of a violation of due process. That Mr. Mueller

and his staff had nothing to do with Crossfire’s origin offers no cure.

When the government deprives a person of life, liberty or property, it is required to use fundamentally
fair processes. The Supreme Court has made clear that when governmental action “shocks the
conscience,” it violates due process. Such conduct includes investigative or prosecutorial efforts that

appear, under the totality of the circumstances, to be motivated by corruption, bias or entrapment.

In U.S. v. Russell (1973), the justices observed: “We may someday be presented with a situation in
which the conduct of law enforcement agents is so outrageous that due process principles would
absolutely bar the government from invoking judicial processes to obtain a conviction.” It didn’t take
long. In Blackledge v. Perry (1974), the court concluded that due process was offended by a
prosecutor’s “realistic likelihood of ‘vindictiveness’ ” that tainted the “very initiation of proceedings.”
In Young v. U.S. ex rel. Vuitton (1987), the justices held that because prosecutors have “power to
employ the full machinery of the state in scrutinizing any given individual . .. we must have assurance
that those who would wield this power will be guided solely by their sense of public responsibility for
the attainment of justice.” Prosecutors must be “disinterested” and make “dispassionate assessments,”

free from any personal bias.

HOUSE_OVERSIGHT_026493
"
IMAGES-007-HOUSE_OVERSIGHT_023681.txt,"| PBs e+ Le—m

° Thr a iret e

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4 CCTW/CGTN
; 12:07 Pu

BREAKING NEWS
CHINA NAMES NEW SEVEN-MEMBER LEADERSHIP COMMITTEE (RS.

@ONBRK CHINA'S COMMUNIST PARTY ALREADY ELEVATED STATURE OF PRESIDENT XI! JINPING
al > i

HOUSE_OVERSIGHT_023681
"
IMAGES-009-HOUSE_OVERSIGHT_027955.txt,"were still behind schedule. Dawn was 25 minutes away. I radioed the helicopter
pilot with a new pickup point, closer to where we’d installed the equipment
though still far enough, I hoped, to avoid giving away what we’d done. Still, we
barely made it. The sun was rising as the chopper began weaving among the
dunes and wadis on the flight back to Israel. Looking back, we could see flames
leaping up from the oil pipeline in the dim, dawn light.

There could be no doubt the prize was worth it. By the time we returned, the
receiving equipment at Um-Hashiba was, for the first time, picking up real-time
communications at the highest level of the Egyptian military. With the War of
Attrition showing every sign of getting even fiercer, it was a criticial
intelligence advantage. When we landed, not only Digli, but Ahrale Yariv were
there to meet us. Digli, smiling broadly, handed me a small cloth insignia.
“You've earned it,” he said, adding that Bar-Lev himself had endorsed my
promotion from captain to major.

With the Cairo-Suez mission, and a series of other operations I helped run
nearer to the canal, there now seemed every possibility that I would be chosen
to succeed Digli as commander when his term expired. But that was still more
than a year away, in the spring of 1971. With his agreement, I decided to use the
time to do what Eli Zeira had advised me before I made my decision to return:
to get experience in the regular army. The War of Attrition had created a
demand for qualified officers who could command tank units, since they were
playing a key role against the Egyptians along the canal. Along with about a
dozen other middle-ranking officers who had volunteered to move into the
armored corps, I embarked on a course covering every facet of tank warfare:
how each system on an individual tank worked, how to pilot one, load in the
shells, and then calibrate its main gun, aim and fire. We studied
communications protocols, even tank maintenance. We were taught how to
command an armored platoon — a group of three tanks — and then an armored
company of eleven tanks and APCs. Finally, in July 1970, we were given
command of actual companies, with the aim of deploying us against the
Egyptians.

My company was part of Brigade 401, in the Sinai. It was one of the several
armored forces that were rotated, every three months, into action on the front

107
HOUSE_OVERSIGHT_027955
"
IMAGES-010-HOUSE_OVERSIGHT_028565.txt,"Cite as: 586 U.S. (2019) 7

BREYER, J., dissenting

the International Monetary Fund, Art. IX, §8, Dec. 27,
1945, 60 Stat. 1413, T. I. A. S. No. 1501. UNRRA required
members, absent waiver, to accord the organization “the
facilities, privileges, immunities, and exemptions which
they accord to each other, including ... [i]mmunity from
suit and legal process.”. 2 UNRRA, A Compilation of the
Resolutions on Policy: First and Second Sessions of the
UNRRA Council, Res. No. 32, p. 51 (1944). And the UN
Charter required member states to accord the UN “such
privileges and immunities as are necessary for the fulfill-
ment of its purposes.” Charter of the United Nations, Art.
105, 59 Stat. 1058, June 26, 1945, T. 8S. No. 998.

These international organizations expected the United
States to provide them with essentially full immunity.
And at the time the treaties were written, Congress un-
derstood that foreign governments normally enjoyed im-
munity with respect to their commercial, as well as their
noncommercial, activities. Thus, by granting international
organizations “the same immunity from suit” that
foreign governments enjoyed, Congress expected that
international organizations would similarly have immu-
nity in both commercial and noncommercial suits.

More than that, Congress likely recognized that immu-
nity in the commercial area was even more important for
many international organizations than it was for most
foreign governments. Unlike foreign governments, inter-
national organizations are not sovereign entities engaged
in a host of different activities. See R. Higgins, Problems
& Process: International Law and How We Use It 98
(1994) (organizations do not act with “‘sovereign author-
ity,” and “to assimilate them to states ... is not correct’).
Rather, many organizations (including four of the five I
mentioned above) have specific missions that often require
them to engage in what U.S. law may well consider to be
commercial activities. See infra, at 12.

Nonetheless, under the majority’s view, the immunity of

HOUSE_OVERSIGHT_028565
"
IMAGES-001-HOUSE_OVERSIGHT_011732.txt,"from the massacre was that the mix of Jewish settlers, some of whom felt they
were on a messianic mission to resettle all of Biblical Israel, and restive
Palestinians who wanted sovereignty and control over their own lives was
potentially toxic, for both sides. Ideally, the process which had begun with Oslo
might start to disentangle it, though I remained far from confident that anything
resembling full peace would come any time soon.

Rabin, and even more acutely Shimon Peres, believed it was important to
press ahead with the opening phase of the handover of Israeli authority mapped
out by Oslo. In May 1994, a draft of the so-called “Gaza and Jericho First”
agreement was completed. Once it was ratified, the five-year interim period
would begin, with further withdrawals and parallel negotiations on the
“permanent status” of the territories. In this first step, Israel would transfer civil
authority in Gaza Strip and the Jordan Valley town of Jericho to the
Palestinians, and local security would be in the hands of a newly created
Palestinian police force.

My primary concern, and my responsibility, was the security provisions in
the agreement, since the Israeli army retained its role in charge of overall
security. When I went to see Rabin a few days before the cabinet meeting to
approve the Gaza-Jericho agreement, I told him I was worried that it left room
for potentially serious misunderstandings, friction and even clashes on the
ground. There was no clear definition of how our soldiers would operate
alongside the new local police in the event of a terror attack, violence by Hamas
or Islamic Jihad, or, for that matter, a car crash involving an Israeli and a
Palestinian. He agreed this needed to be addressed, although it was clear he
intended to do so with Arafat, via the Americans, not by reopening and delaying
the formal agreement.

But I had a deeper concern about the entire Oslo Agreement, which I also
now raised with Rabin. I did not doubt the importance of reaching a political
agreement, and ideally a peace treaty, with the Palestinians. But I’d now read
the Oslo Declaration in greater detail, and discussed it with lawyer friends of
mine. I’d also re-read the 1978 Camp David framework on which the self-rule
provisions were based. The endpoint was pretty clear, just as it had been at
Camp David: Palestinian authority over the West Bank and Gaza, defined as a

261
HOUSE_OVERSIGHT_011732
"
TEXT-001-HOUSE_OVERSIGHT_017714.txt,"﻿User Name: DAVID SCHOEN
Date and Time: Thursday, February 28, 2019 10:28:00 AM EST
Job Number: 83852970
Document (1)
1. ARTICLE: Recognizing Victims in the Federal Rules of Criminal Procedure: Proposed Amendments in Light
of the Crime Victims' Rights Act, 2005 B.Y.U.L. Rev. 835
Client/Matter: -None-
Search Terms: cvra and sixth amendment
Search Type: Terms and Connectors
Narrowed by:
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Narrowed by
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Sources: Law Reviews and Journals
| About LexisNexis | Privacy Policy | Terms & Conditions | Copyright © 2019 LexisNexis
DAVID SCHOEN
ARTICLE: Recognizing Victims in the Federal Rules of Criminal Procedure: Proposed
Amendments in Light of the Crime Victims' Rights Act
Reporter
2005 B.Y.U.L. Rev. 835 *
2005
Length: 36451 words
Author: Paul G. Cassell*
* Professor of Law for the S.J. Quinney College of Law of the University of Utah and United States District Court Judge for
the District of Utah. Thanks to Doug Beloof, Janna Tucker Davis, Meg Garvin, Wendy Murphy, Judge James Orenstein, and
Steve Twist; to my able law clerks Ann Bauer, Tim Conde, Tyler Green, Felise Thorpe Moll, Justin Starr, and Stewart Young;
and especially to my wife Trish for all her support. I write this article as a law professor, not as a judge. It is not intended to
comment on any pending cases and implies no positive commitment on legal issues that may arise in cases that come before me
in my court.
Text
[*837]
I. Introduction
Crime victims are virtually absent from the Federal Rules of Criminal Procedure. The sixty federal rules comprehensively
cover every aspect of federal criminal proceedings - from initial appearance through preliminary hearing, arraignment,
acceptance of pleas, trial, and sentencing. Yet the rules substantively mention victims only once, briefly recognizing the right
of some victims to speak at sentencing. 1
The federal rules can no longer leave victims unmentioned. In October 2004, Congress passed and President Bush signed into
law the Scott Campbell, Stephanie Roper, Wendy Preston, Louarna Gillis, and Nila Lynn Crime Victims' Rights Act (CVRA).
2 The CVRA transforms crime victims into participants in the criminal justice process by (among other things) guaranteeing
them notice of court hearings, the right to attend those hearings, and the opportunity to testify at appropriate points in the
process. These new victims' rights will reshape the federal criminal justice system and force significant changes to the Federal
Rules of Criminal Procedure to reflect the victim's expanded role. This Article offers comprehensive proposals for changing the
federal rules to both implement the CVRA and reflect sound public policy. The CVRA dictates changes like these to the Federal
Rules of Criminal Procedure because only by integrating victims into the federal rules will Congress's goal of making victims
participants in the process be fully realized.
This Article is divided into five parts. Following this introduction, Part II reviews the current absence of victims from the
federal rules. Surprisingly, even where the rules cover issues of great concern to victims, victims somehow go unmentioned.
1
See Fed. R. Crim. P. 32(i)(4)(B); discussion infra note 3 and accompanying text.
2
Crime Victims' Rights Act, Pub. L. No. 108-405, 118 Stat. 2261 (2004) (codified at 18 U.S.C.A. 3771 (West 2004 & Supp. 2005)). The
CVRA was part of a much larger piece of legislation that addressed a variety of subjects, known as the ""Justice for All Act."" See generally
Steven J. Twist, On the Wings of Their Angels: The Scott Campbell, Stephanie Roper, Wendy Preston, Louarna Gillis, Nila Lynn Crime
Victims' Rights Act, 9 Lewis & Clark L. Rev. (forthcoming 2005).
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *837
Page 2 of 52
Part II then discusses the crime victims' rights movement and concludes with a brief sketch of the events leading to the CVRA's
enactment.
[*838] Part III discusses why it is necessary to amend the federal criminal rules to incorporate victims. Although the CVRA is
a federal statute that automatically trumps any conflicting procedural rule, procedural rules drive day-to-day courtroom
practices. Given that Congress was particularly concerned about integrating victims into the fabric of the criminal justice
system, the Advisory Committee on Criminal Rules should amend the rules to directly reflect the CVRA's requirements.
Part IV provides a rule-by-rule analysis of the changes needed in the Federal Rules of Criminal Procedure to implement the
CVRA. Of particular importance is new language protecting crime victims' rights to be notified of and to be present and heard
at public criminal proceedings. Congress should also implement the right to notice in a new rule mandating that prosecutors
keep victims apprised of criminal proceedings. In addition, the rules should also reflect victims' rights to attend court
proceedings and to testify at bail, plea, and sentencing hearings. Part IV also discusses other significant changes needed to
conform the rules to the CVRA: defining ""victim,"" giving victims notice before confidential information is subpoenaed,
allowing victims to be heard before cases are transferred to remote districts, giving victims access to relevant parts of the presentence
report, permitting courts to appoint counsel for victims, and protecting the victim's right to proceedings free from
unreasonable delay. Part V contains a brief conclusion.
II. The Missing Victims of Crimes
Crime victims are absent from the Federal Rules of Criminal Procedure. Yet this is not because victims lack vital interests in
criminal cases. As the CVRA recognizes, victims have vital concerns throughout the criminal process. This section recounts the
absence of victims from the federal criminal rules, then contrasts that absence with the aims of the victims' rights movement.
The movement has argued successfully before state legislatures and Congress for the recognition of crime victims' rights - with
these efforts culminating in the passage of the CVRA, protecting crime victims' rights in the federal system.
[*839]
A. The Victim's Absence from the Current Federal Criminal Rules
The sixty Federal Rules of Criminal Procedure provide the architecture for the entire federal criminal court process, including
initial appearance, preliminary hearing, arraignment, acceptance of pleas, trial, and sentencing. One would expect that the rules
would frequently mention crime victims, given the subjects - such as bail, scheduling, and restitution - that directly concern
victims. Yet amazingly, the current rules substantively use the word ""victim"" only a single time.
The single direct reference to victims is Rule 32(i)(4)(B), which directs that before imposing a sentence, ""the court must
address any victim of a crime of violence or sexual abuse who is present at sentencing and must permit the victim to speak or
submit any information about the sentence."" 3 The word ""victim"" appears in passing in only two other rules: Rule 12.4 requires
the government to disclose to the court any organizational ""victim,"" 4 and the heading of Rule 38(e) mentions ""Restitution""
and ""Notice to Victims,"" but the text of the rule does not contain the term ""victim."" 5
Victims deserve far more than the single reference in Rule 32. While later parts of this Article work through the rules sectionby-section
to illustrate where victims have been unfairly ignored, 6 a few examples here will prove the point. The rules
currently fail to give victims any right to be heard regarding whether a judge should accept a plea, even though the judge must
evaluate the public interest in deciding whether to do so. 7 The rules fail to require notice to victims before their confidential
3
Fed. R. Crim. P. 32(i)(4)(B).
4
Id. at 12.4(a)(2).
5
Id. at 38(e) (mentioning ""victim"" in the heading of the rule).
6
See discussion infra Part IV.
7
See Fed. R. Crim. P. 11; discussion infra notes 148-53 and accompanying text.
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *839
Page 3 of 52
information is subpoenaed from third parties - such as schools or medical providers - even though victims have compelling
privacy interests to protect. 8 And the rules do not protect the victim's right to attend trials, despite [*840] victims' long
history of having at least some protected interest in observing trials and other proceedings. 9
One provision conveniently encapsulates the surprising absence of victims from the rules: Rule 32(d)(2)(B). The drafters of this
rule 10 appear to have been so afraid to utter the word ""victim"" that they did not use the term even when describing the person
harmed by a crime. Rule 32(d)(2)(B) directs that a presentence report contain ""verified information, stated in a
nonargumentative style, that assesses the financial, social, psychological, and medical impact on any individual against whom
the offense has been committed."" 11 The phrasing of this provision is striking for several reasons. It eschews the
straightforward term ""victim,"" preferring instead the obscuring phrase ""individual against whom the offense has been
committed."" The provision also uses the responsibility-obscuring passive voice in describing the individual ""against whom"" the
offense has been committed, leaving the reader to wonder who might have committed that offense (the defendant, perhaps?).
Interestingly, the provision requires that information about the victim be ""verified."" Fair enough - until one realizes that the
directly adjacent provision regarding information about the defendant lacks a similar verification requirement. 12 Why would
information about the victim need to be verified while information about the defendant would not? Finally, the provision
requires that victim information be stated in a ""nonargumentative"" style. Again, the adjacent defendant's provision contains no
such direction. 13 In short, even a rule that seemingly must mention victims - the rule dictating preparation of a presentence
report describing the crime - manages to avoid mentioning the word.
B. The Victims' Rights Movement
That victims are missing from the Federal Rules of Criminal Procedure exemplifies their treatment in the modern American
[*841] criminal justice system. As one commentator has described the situation, the victim is ""seen at best as ""the forgotten
man' of the system and, at worst, as being twice victimized, the second time by the very system to which he has turned for
justice."" 14 The absence of victims conflicts with ""a public sense of justice keen enough that it has found voice in a nationwide
victims' rights movement."" 15
The crime victims' rights movement developed in the 1970s because of a perceived imbalance in the criminal justice system.
Led by feminist and civil rights activists, victims' advocates argued that the criminal justice system had become preoccupied
8
See Fed. R. Crim. P. 17; discussion infra notes 177-91, and accompanying text.
9
See Fed. R. Crim. P. 43; discussion infra notes 269-300 and accompanying text.
10
To be clear, Congress, not the Advisory Committee on Criminal Law and Procedure, drafted the language of this rule. See Victims of
Crime Act of 1984, Pub. L. No. 98-473, 98 Stat. 2014 (1984) (directly amending Rule 32).
11
Fed. R. Crim. P. 32(d)(2)(B) (emphasis added).
12
Id. at 32(d)(2)(A).
13
Id.
14
William F. McDonald, Towards a Bicentennial Revolution in Criminal Justice: The Return of the Victim, 13 Am. Crim. L. Rev. 649, 650
(1976).
15
Payne v. Tennessee, 501 U.S. 808, 834 (1991) (Scalia, J., concurring) (internal quotation marks omitted). See generally Douglas Evan
Beloof, Paul G. Cassell & Steve J. Twist, Victims in Criminal Procedure 29-37 (2005); Shirley S. Abrahamson, Redefining Roles: The
Victims' Rights Movement, 1985 Utah L. Rev. 517; Douglas Evan Beloof, The Third Model of Criminal Process: The Victim Participation
Model, 1999 Utah L. Rev. 289 [hereinafter Beloof, The Third Model of Criminal Process]; Paul G. Cassell, Balancing the Scales of Justice,
1994 Utah L. Rev. 1373, 1380-82; Abraham S. Goldstein, Defining the Role of the Victim in Criminal Prosecution, 52 Miss. L.J. 514 (1982);
Erin Ana O'Hara, Victim Participation in the Criminal Process, 13 J.L. & Pol'y 229 (2005); William T. Pizzi & Walter Perron, Crime Victims
in German Courtrooms: A Comparative Perspective on American Problems, 32 Stan. J. Int'l L. 37 (1996).
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *841
Page 4 of 52
with defendants' rights to the exclusion of crime victims' legitimate interests. 16 These advocates urged reforms to give more
attention to victims' concerns, including protecting the victim's right to be notified of court hearings, to attend those hearings,
and to be heard at appropriate points in the process.
The victims' rights movement received considerable impetus with the publication in 1982 of the Report of the President's Task
Force on Victims of Crime. 17 The Task Force concluded that the criminal justice system ""has lost an essential balance … .
The system has deprived the innocent, the honest, and the helpless of its protection … . The victims of crime have been
transformed into a group oppressively burdened by a system designed to protect them. This oppression must be redressed."" 18
The Task Force advocated [*842] multiple reforms. It recommended that prosecutors assume the responsibility for keeping
victims notified of all court proceedings and bringing to the court's attention the victim's view on such subjects as bail, plea
bargains, sentences, and restitution. 19 The Task Force also urged that courts receive victim impact evidence at sentencing,
order restitution in most cases, and allow victims and their families to attend trials even if they are also called as witnesses. 20
In its most sweeping recommendation, the Task Force proposed a federal constitutional amendment to protect crime victims.
The Task Force proposed adding to the Sixth Amendment's protections for defendants' rights a provision allowing crime
victims to be present and heard: ""Likewise, the victim, in every criminal prosecution shall have the right to be present and to be
heard at all critical stages of judicial proceedings."" 21
In the wake of that recommendation, crime victims' advocates considered how best to pursue a federal constitutional
amendment that would protect victims' rights throughout the country. Recognizing the difficulty of obtaining the consensus
required to amend the United States Constitution, advocates decided to go to the states first to pursue state victims' rights
amendments. This ""states-first"" strategy 22 met with considerable success. To date, some thirty states have adopted victims'
rights amendments to their own state constitutions. 23 While these amendments take various forms, Arizona's amendment
illustrates the types of rights typically protected. The Arizona constitutional provision gives victims the broad right to ""be
treated with fairness, respect, and dignity, and to [*843] be free from intimidation, harassment, or abuse, throughout the
criminal justice process."" 24 It also specifically confers a right to ""be present at, and, upon request, to be informed of all
criminal proceedings where the defendant has the right to be present."" 25 The amendment further allows victims to be heard at
bail, plea, and sentencing hearings. 26
16
See generally Beloof, Cassell & Twist, supra note 15, at ch. 1; Douglas E. Beloof, The Third Wave of Crime Victims' Rights: Standing,
Remedy, and Review, 2005 BYU L. Rev. 255 [hereinafter Beloof, The Third Wave of Crime Victims' Rights]; Cassell, supra note 15, at 1381-
82.
17
President's Task Force on Victims of Crime, Final Report 114 (1982).
18
Id.
19
Id. at 63.
20
Id. at 72-73.
21
Id. at 114.
22
See S. Rep. No. 108-191, at 3 (2004), as reprinted in 2004 U.S.C.A.N.
23
Alaska Const. art. I, 24; Ariz. Const. art. II, 2.1; Cal. Const. art. I, 12, 28; Colo. Const. art. II, 16(a); Conn. Const. art. I, 8(b); Fla. Const.
art. I, 16(b); Idaho Const. art. I, 22; Ill. Const. art. I, 8.1; Ind. Const. art. I, 13(b); Kan. Const. art. 15, 15; La. Const. art. 1, 25; Md. Decl. of
Rights art. 47; Mich. Const. art. I, 24; Miss. Const. art. 3, 26(A); Mo. Const. art. I, 32; Neb. Const. art. I, 28; Nev. Const. art. I, 8(2); N.J.
Const. art. I, 22; N.M. Const. art. 2, 24; N.C. Const. art. I, 37; Ohio Const. art. I, 10(a); Okla. Const. art. II, 34; Or. Const. art. I, 42-43; R.I.
Const. art. I, 23; S.C. Const. art. I, 24; Tenn. Const. art. 1, 35; Tex. Const. art. I, 30; Utah Const. art. I, 28; Va. Const. art. I, 8-A; Wash.
Const. art. 1, 35; Wis. Const. art. I, 9(m). These amendments passed with overwhelming popular support.
24
Ariz. Const. art. II, 2.1(A)(1).
25
Id. 2.1(A)(3).
26
Id. 2.1(A)(4).
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The movement also successfully prodded the federal system to recognize victims' rights. In 1982 Congress passed the first
federal victims' rights legislation, the Victim and Witness Protection Act (VWPA). 27 The VWPA had three primary goals: (1)
to expand and protect the role of victims and witnesses in the criminal justice process; (2) to ensure that the federal government
used all available resources to protect and assist victims without infringing defendants' constitutional rights; and (3) to provide
a model for state and local legislation. 28 Since passage of the VWPA, Congress has remained active in this area of the law,
passing several acts further protecting victims' rights, such as the Victims of Crime Act of 1984, 29 the Victims' Rights and
Restitution Act of 1990, 30 the Violent Crime Control and Law Enforcement Act of 1994, 31 the Antiterrorism and Effective
Death Penalty Act of 1996, 32 and the Victim Rights Clarification Act of 1997. 33 Other federal statutes have been passed to
deal with specialized victim situations such as child victims and witnesses. 34
[*844] These statutes spawned guidelines for how federal prosecutors should treat crime victims. The VWPA required the
Attorney General to develop guidelines for the Department of Justice. 35 To implement this Act, the Attorney General
developed guidelines designed to assist victims during the criminal justice process, mandating protocol, separate waiting areas
at court, the prompt return of the victim's property, and victim training for law enforcement personnel. 36 The guidelines also
directed that prosecutors notify victims about available services, major case events, consultations with the prosecutor, and the
opportunity for consultation about the prosecution. 37 In 2000, Attorney General Reno updated and expanded the guidelines.
The revised guidelines heightened the notification requirements, requiring prosecutors and law enforcement agents to notify
victims of important criminal justice events and to confer with victims about important decisions in the process. 38
Among the federal victims' statutes, the Victims' Rights and Restitution Act of 1990 is noteworthy. This Act purported to create
a comprehensive list of victims' rights in the federal criminal justice process. It commanded that ""[a] crime victim has the
following rights"" and then listed various procedural rights, including the right to ""be treated with fairness and with respect for
the victim's dignity and privacy,"" 39 to ""be notified of court proceedings,"" 40 to ""confer with [the] attorney for the Government
in the case,"" 41 and to attend court proceedings even if called as a witness. 42 The statute also directed the Justice Department
27
Pub. L. No. 97-291, 96 Stat. 1248 (1982) (codified as amended in scattered sections of 18 U.S.C.).
28
Id.
29
Pub. L. No. 98-473, 98 Stat. 2170 (1984) (codified as amended at 42 U.S.C. 10601-03 (2000); 18 U.S.C. 3013; id. 3671).
30
Pub. L. No. 101-647, 104 Stat. 4820 (1990) (codified as amended at 42 U.S.C. 10601, 10606-07).
31
Pub L. No. 103-322, 108 Stat. 1796 (1994) (codified as amended in scattered sections of U.S.C.).
32
Pub. L. No. 104-132, 110 Stat. 1214 (1996) (codified as amended in scattered sections of U.S.C.).
33
Pub. L. No. 105-6, 111 Stat. 12 (codified as amended at 18 U.S.C. 3510).
34
See, e.g., 18 U.S.C. 3509 (protecting rights of child victim-witnesses); Pub L. No. 101-647, 104 Stat. 4789 (1990).
35
Victim and Witness Protection Act, Pub. L. No. 97-291, 6(a), 96 Stat. 1248, 1252 (1982).
36
U.S. Dep't of Justice, Office of the Att'y Gen., Attorney General Guidelines for Victim and Witness Assistance (1995).
37
Id.
38
U.S. Dep't of Justice, Office of the Att'y Gen., Attorney General Guidelines for Victim and Witness Assistance 31-37 (2000) [hereinafter
2000 A.G. Guidelines]. The Guidelines were recently revised. See U.S. Dept. of Justice, Office for Victims of Crime, Attorney General
Guidelines for Victim and Witness Assistance (2005) [hereinafter 2005 A.G. Guidelines].
39
42 U.S.C. 10606(b)(1) (repealed 2004).
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to make ""its best efforts"" to ensure [*845] that victims' rights were protected. 43 Yet this federal statute never successfully
integrated victims into the federal criminal justice process and instead became something of a dead letter. Because Congress
passed the CVRA in 2004 to remedy the problems with the 1990 Act, a brief review of the law's shortcomings is valuable.
Curiously, the 1990 Victims' Rights and Restitution Act was codified in Title 42 of the United States Code - the Title dealing
with ""Public Health and Welfare."" Such placement effectively limited the Act's effectiveness because federal practitioners
reflexively consult Title 18, the Title that covers ""Crimes and Criminal Procedure,"" 44 for guidance on criminal law issues.
More prosaically, federal criminal enactments are bound together in a single West publication entitled the Federal Criminal
Code and Rules. This publication is carried to court by prosecutors and defense attorneys and is on the desk of most federal
judges. Because West Publishing never included the Victims' Rights Act in this book, the statute was essentially unknown even
to experienced judges and attorneys. 45
The prime illustration of the ineffectiveness of the Victims' Rights and Restitution Act comes from the Oklahoma City
bombing case. 46 While one might expect victims' rights would have been fully protected during such a high profile trial, in
fact victims were denied one fundamental right: the right to observe court proceedings. During a pretrial motion hearing, the
district court sua sponte precluded any victim who wished to provide victim impact testimony at sentencing from observing
proceedings in the case. 47 The court based its ruling on Rule 615 of the Federal Rules of Evidence - the so-called ""Rule on
Witnesses."" 48 Thirty-five victims and survivors of [*846] the bombing then filed a motion for reconsideration. 49 They
noted that the district court apparently had overlooked the Victims' Rights Act giving victims the right ""to be present at all
public court proceedings related to the offense, unless the court determines that testimony by the victim would be materially
affected if the victim heard other testimony at trial."" 50 The district court denied the motion for reconsideration. 51 It
concluded that victims present during court proceedings would not be able to separate the ""experience of trial"" from ""the
experience of loss from the conduct in question,"" and, thus, their testimony at a sentencing hearing would be inadmissible. 52
Unlike the original ruling, which was explicitly premised on Rule 615, the later ruling was more ambiguous, alluding to
concerns under the Constitution, the common law, and the rules of evidence. 53
40
Id. 10606(b)(3) (repealed 2004).
41
Id. 10606(b)(5) (repealed 2004).
42
Id. 10606(b)(4) (repealed 2004). Testifying victims can attend proceedings unless the victim's testimony ""would be materially affected"" by
hearing other testimony at trial. Id.
43
Id. 10606(a) (repealed 2004).
44
18 U.S.C. (2000).
45
Last year, I wrote a letter to West Publishing requesting that they include the law in their book. That request became moot with the passage
of the CVRA, which moved victims' rights from obscurity in Title 42 to centrality in Title 18, thereby guaranteeing them a spot in the West
publication.
46
See generally Paul G. Cassell, Barbarians at the Gates? A Reply to the Critics of the Victims' Rights Amendment, 1999 Utah L. Rev. 479,
515-22 (discussing the Oklahoma City bombing case in greater detail).
47
See United States v. McVeigh, No. 96-CR-68, 1996 WL 366268, at 2 (D. Colo. June 26, 1996).
48
Id. at 2-3 (discussing application of Fed. R. Evid. 615).
49
Motion of Marsha and Tom Kight et al. and the National Organization for Victim Assistance Asserting Standing To Raise Rights Under
the Victims' Bill of Rights and Seeking Leave To File a Brief as Amici Curiae, United States v. McVeigh, No. 96-CR-68-M, 1996 WL
570841 (D. Colo. Sept. 30, 1996). I represented a number of the victims on this matter on a pro bono basis, along with able co-counsel Robert
Hoyt, Arnon Siegel, and Karan Bhatia of the Washington, D.C. law firm of Wilmer, Cutler, and Pickering, and Sean Kendall of Boulder,
Colorado.
50
42 U.S.C. 10606(b)(4) (1994) (repealed 2004). The victims also relied on a similar provision found in the authorization for closed circuit
broadcasting of the trial, 42 U.S.C.A. 10608(a) (West Supp. 1998), and on a First Amendment right of access to public court proceedings. See
Richmond Newspapers, Inc. v. Virginia, 448 U.S. 555, 577 (1980) (finding First Amendment right of court access).
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The victims subsequently filed a petition for writ of mandamus in the U.S. Court of Appeals for the Tenth Circuit seeking
review of the district court's ruling. 54 Three months later, a Tenth Circuit panel rejected the victims' claims. 55 The circuit
found ""a number of problems with the excluded witnesses' reliance on the Victims' Rights Act."" 56 Indeed, the circuit found
that the Act created no obligations for courts:
[*847]
The statute charily pledges only the ""best efforts"" of certain executive branch personnel to secure the rights listed. The district
court judge, a judicial officer not bound in any way by this pledge, could not violate the Act. Indeed, the Act's prescriptions
were satisfied once the government made its arguments against sequestration - before the district court even ruled. 57
Efforts by both the victims and the Department of Justice to obtain a rehearing were unsuccessful, 58 despite the support of
separate briefs urging such a rehearing from forty-nine members of Congress, all six Attorneys General in the Tenth Circuit,
and some of the leading victims' groups in the nation. 59
In the meantime, the victims, supported by the Oklahoma Attorney General's Office, sought remedial legislation in Congress
clearly providing that victims should not have to decide between testifying at sentencing or watching the trial. A bill was
introduced to provide that watching a trial in a capital case does not constitute grounds for denying a victim the chance to
provide an impact statement. In a matter of weeks, Congress passed the Victims Rights Clarification Act of 1997, 60 but even
that specific statute failed to protect the bombing victims' rights. The district court in the Oklahoma City case found that the
statute had constitutional problems. 61
Because of the difficulty accompanying the statutory protection of victims' rights, victims advocates decided to press for a
federal constitutional amendment. They argued that the statutory [*848] protections could not sufficiently guarantee victims'
rights. In their view, such statutes ""frequently fail to provide meaningful protection whenever they come into conflict with
bureaucratic habit, traditional indifference, [or] sheer inertia."" 62 As the Justice Department reported:
Efforts to secure victims' rights through means other than a constitutional amendment have proved less than fully adequate.
Victims' rights advocates have sought reforms at the state level for the past [twenty] years, and many states have responded
51
McVeigh, 1996 WL 366268 at 25.
52
Id. at 24.
53
See id.
54
Petition for Writ of Mandamus, Kight et al. v. Matsch, No. 96-1484 (10th Cir. Nov. 6, 1996) (on file with author).
55
United States v. McVeigh, 106 F.3d 325, 328 (10th Cir. 1997), superseded by statute, 18 U.S.C. 3510.
56
Id. at 334-35.
57
Id. at 335 (internal citation omitted).
58
See Order, United States v. McVeigh, No. 96-1469, 1997 WL 128893, at 3 (10th Cir. Mar. 11, 1997).
59
See Brief for Amici Curiae Washington Legal Foundation and United States Senator Don Nickles and 48 Other Members of Congress,
United States v. McVeigh, 106 F.3d 325 (10th Cir. Feb. 14, 1997) (No. 96-1469); Brief for Amici Curiae States of Oklahoma, Colorado,
Kansas, New Mexico, Utah, and Wyoming Supporting the Suggestion for Rehearing and the Suggestion for Rehearing En Banc by the
Oklahoma City Bombing Victims and the United States, United States v. McVeigh, 106 F.3d 325 (10th Cir. Feb. 14, 1997) (No. 96-1469);
Brief for Amici Curiae National Victims Center, Mothers Against Drunk Driving, National Victims' Constitutional Amendment Network,
Justice for Surviving Victims, Inc., Concerns of Police Survivors, Inc., and Citizens for Law and Order, Inc., in Support of Rehearing, United
States v. McVeigh, 106 F.3d 325 (10th Cir. Feb. 17, 1997) (No. 96-1469).
60
Pub. L. No. 105-6, 111 Stat. 12 (1997).
61
See generally Cassell, supra note 46, at 519-20 (recounting problems).
62
Laurence H. Tribe & Paul G. Cassell, Embed the Rights of Victims in the Constitution, L.A. Times, July 6, 1998, at B5.
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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. 63
To place victims' rights in the Constitution, victims advocates - led most prominently by the National Victims Constitutional
Amendment Network 64 - approached the President and Congress regarding a federal amendment. 65 On April 22, 1996,
Senators Kyl and Feinstein with the backing of President Clinton introduced a federal victims' rights amendment. 66 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."" 67 A companion resolution was introduced in the House of Representatives. 68 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. 69 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. 70 A series of hearings were held that year in both the House and the Senate. 71 Kyl and Feinstein
reintroduced the amendment the following year. 72 The Senate Judiciary Committee held hearings 73 and passed the proposed
amendment out of committee. 74 Yet again, the full Senate did not consider the amendment.
In 1999, Senators Kyl and Feinstein again proposed the amendment, 75 and on September 30, 1999, the Judiciary Committee
voted, as before, to send the amendment to the full Senate. 76 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. 78
63
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).
64
See http://www.nvcan.org. See generally Twist, supra note 2.
65
For a comprehensive history of victims' efforts to pass a constitutional amendment, see Twist, supra note 2.
66
S.J. Res. 52, 104th Cong., 2d Sess. (1996).
67
S. 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).
69
See S.J. Res. 65, 104th Cong., 2d Sess. (1996).
70
S.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).
72
S.J. Res. 44, 105th Cong., 2d Sess. (1998).
73
Victim's Rights Amendment: Hearings Before the Sen. Judiciary Comm., 105th Congress (1998).
74
See 144 Cong. Rec. S11,010 (daily ed. Sept. 28, 1998) (statement of Sen. Kyl).
75
S.J. Res. 3, 106th Cong., 1st Sess. (1999).
76
146 Cong. Rec. S2966 (daily ed. Apr. 27, 2000).
77
See id.
78
H.R.J. Res. 64, 106th Cong., 1st Sess. (2002).
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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, 79 and the following day, President Bush announced his support. 80 On
May 1, [*850] 2002, a companion measure was proposed in the House. 81 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. 83 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. 84 In exchange for backing off from the federal amendment in the short term, victims' advocates received nearuniversal
congressional support for a ""broad and encompassing"" statutory victims' bill of rights. 85 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. 86 The victims' [*851] movement is currently evaluating the success of the statute before deciding whether
to continue pushing for a federal amendment. 87
The Crime Victims' Rights Act gives victims ""the right to participate in the system."" 88 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;
79
S.J. Res. 35, 107th Cong., 2d Sess. (2002).
80
149 Cong. Rec. S82 (daily ed. Jan. 7, 2003) (statement of Sen. Kyl).
81
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
S. Rep. No. 108-191 (2003).
84
See Twist, supra note 2.
85
150 Cong. Rec. S4261 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).
86
Id. at S4263 (statement of Sen. Feinstein).
87
Id. (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. S4263 (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.
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(4) The right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any
parole proceeding;
(5) The reasonable right to confer with the attorney for the Government in the case;
(6) The right to full and timely restitution as provided in law;
(7) The right to proceedings free from unreasonable delay;
(8) The right to be treated with fairness and with respect for the victim's dignity and privacy. 89
Rather than relying merely on the ""best efforts"" of prosecutors to vindicate rights, the CVRA also contains specific
enforcement [*852] mechanisms. 90 Most importantly, it directly gives victims standing to assert their rights, addressing a
flaw in the earlier enactment. 91 The Act provides that rights can be ""asserted"" by ""the crime victim, the crime victim's lawful
representative, and the attorney for the Government."" 92 The victim or the government may appeal any denial of a victim's
right through a writ of mandamus on an expedited basis. 93 The courts are also required to ""ensure that the crime victim is
afforded the rights"" in the new law. 94
These changes were intended to make the victim ""an independent participant in the proceedings."" 95 Congress desired to
modify what it viewed as the unfair treatment of crime victims; in particular, congressional sponsors of the CVRA cited the
Oklahoma City bombing case as the kind of decision that they intended the new law to overrule. 96
III. The Need To Place Victims' Rights in the Rules
With the CVRA in place as the law of the land, the Federal Rules of Criminal Procedure should be amended to conform to the
statute. While one court has derisively referred to the Act as mere ""mushy, feel good legislation,"" 97 it in fact substantively
changes the posture of crime victims on a whole host of issues. In the wake of the Act, victims now must be folded into the
process through which federal courts conduct criminal cases, including bail, plea, trial, and sentencing hearings. The Federal
Rules of Criminal Procedure - the ""playbook"" of the federal courts - should reflect this fact.
Some might agree that victims now have a number of new rights, but nonetheless dispute the need for a rules amendment.
After all, it might be argued, the CVRA in fact creates substantive rights for crime victims. Because nothing in the federal
procedural [*853] rules can modify substantive rights, 98 the CVRA will trump any conflicting provision in the federal rules.
99 In other words, the CVRA will automatically govern federal criminal proceedings even if the rules remain as written.
89
18 U.S.C.A. 3771(a) (West 2004 & Supp. 2005).
90
Id. 3771(d).
91
Cf. Beloof, The Third Wave of Crime Victims' Rights, supra note 16 (identifying the lack of victim standing as a pervasive flaw in victims'
rights enactments).
92
18 U.S.C.A. 3771(d)(1).
93
Id. 3771(d)(3).
94
Id. 3771(b).
95
150 Cong. Rec. S10911 (daily ed. Oct. 9, 2004) (statement of Sen. Kyl).
96
Id. at S4269 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).
97
United States v. Holland, 380 F. Supp. 2d 1264, 1279 (N.D. Ala. 2005).
98
See 28 U.S.C. 2072(b) (2000).
99
See, e.g., Miguel v. Country Funding Corp., 309 F.3d 1161, 1165 (9th Cir. 2002).
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While this argument is legally precise, as a practical matter, compelling reasons justify amending the federal rules to include
victims. Congress intended that the CVRA's new rights not be ""simply words on paper,"" but rather ""meaningful and functional""
reforms. 100 To that end, Congress mandated that courts shall ""ensure"" that crime victims are ""afforded the rights"" conveyed
by the CVRA. 101 To effectively ensure that victims' rights are protected, these rights must become part of the warp and woof
of the criminal process. That can occur only if the federal rules - the day-to-day operations manual of the courts - spell out how
to integrate victims into the process.
Judges and practitioners frequently refer to the Federal Rules of Criminal Procedure for guidance as to how to conduct
hearings. If victims' rights are left out of the federal rules, the strong possibility exists that courts may mistakenly disregard
victims' rights under the CVRA. A good illustration comes from Rule 11, which spells out in some detail how judges should
conduct a hearing accepting a plea. The judge is required to personally inform the defendant of certain specified rights and
ensure that the defendant understands he will be waiving those rights. 102 The judge must also determine that the defendant is
voluntarily entering the plea and that there is a factual basis for the guilty plea. 103 Under the CVRA, victims now also have the
right to be heard before the judge accepts any plea. 104 This is a new right, 105 which judges are not accustomed to
administering. Unless the victim's right to be heard is specifically spelled out in Rule 11's plea procedures, some judges may
inadvertently disregard it.
[*854] The Oklahoma City bombing case further demonstrates how courts sometimes blindly follow the federal rules without
considering superseding statutes. In that case, the court excluded victim-witnesses from certain proceedings, relying solely on
Federal Rule of Evidence 615 in making its determination. In denying the witnesses entrance to the proceedings, the court was
apparently unaware of the provision in the Victims' Rights and Restitution Act protecting a victim's right to attend. 106 This
deficiency was called to the attention of the Advisory Committee on the Federal Rules of Evidence. 107 The committee
acknowledged the need to include victims in the evidence rules and later added a new provision reflecting the victim's right to
attend. 108
One reason for including victims' rights in the rules is to avoid litigation about the negative inferences that might be drawn if
victims' rights are not in the rules. It is a well-settled principle of statutory construction that expressio unius est exclusio alterius
(the expression of one thing implies the exclusion of the other). This canon of construction applies to the federal rules as much
as to statutes. 109 Because the rules repeatedly spell out situations in which the defendant has the right to have his interests
considered but say nothing about victims, it might be argued that the rules have implicitly determined that a victim's interests
are irrelevant. To return to the Rule 11 plea example, given that the criminal rules specify that a court must address the
defendant but lack any comparable requirement for victims, it might be inferred that victims cannot speak at plea hearings. Any
100
150 Cong. Rec. S4262 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).
101
18 U.S.C.A. 3771(b) (West 2004 & Supp. 2005).
102
Fed. R. Crim. P. 11(b)(1).
103
Id. at 11(b)(2), (b)(3).
104
18 U.S.C.A. 3771(a)(4).
105
Cf. 42 U.S.C. 10606(b) (listing victims' rights; right to be heard at pleas not included) (repealed by 18 U.S.C. 3771).
106
See supra note 45 and accompanying text.
107
See Letter from Paul G. Cassell to Advisory Comm. (on file with author).
108
See Fed. R. Evid. 615 advisory committee's notes (1998 Amendments).
109
See, e.g., Leatherman v. Tarrant County Narcotics Intelligence & Coordination Unit, 507 U.S. 163, 168 (1993).
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such conclusion would be contrary to the plain language of the CVRA. 110 To avoid possible confusion, the rules should be
clear on this point.
An additional reason for integrating victims into the federal rules is that Congress seemingly expects this to happen. Congress
adopted the CVRA with the express goal of making the new law ""a formula [*855] for success"" and a ""model for our States.""
111 Congress clearly wants the new law aggressively implemented, thereby avoiding the need for further legislative action or
even, possibly, a federal constitutional amendment. Congress is watching to see whether the Judiciary (and the Executive) will
fully and fairly implement this new Act. As Senator Leahy warned, ""Passage of this bill will necessitate careful oversight of its
implementation by Congress."" 112
Construing the CVRA to require changes is also appropriate because the Act is remedial legislation. As the Supreme Court has
instructed, ""When Congress uses broad generalized language in a remedial statute, and that language is not contravened by
authoritative legislative history, a court should interpret the provision generously so as to effectuate the important congressional
goals."" 113 The congressional sponsors described the victims' rights in the CVRA as ""broad rights,"" 114 the significance of
which should not ""be whittled down or marginalized by the courts or the executive branch. This legislation is meant to correct,
not continue, the legacy of the poor treatment of crime victims in the criminal process."" 115
A final reason for amending the rules is that crime victims' groups are looking for the effective implementation of the CVRA.
They are urging that the federal rules be comprehensively amended to reflect victims' rights; indeed, they have even suggested
that Congress should directly amend the federal rules to include victims' rights. 116 The Judiciary would be well advised not to
ignore these lobbying efforts. Victims have proven very effective at advancing legislation in Congress, particularly where they
have legitimate grievances about how they have been treated. 117
Moreover, allowing the initiative for drafting of rules to pass from the Judiciary to Congress is not ideal. The Advisory
Committee on Federal Rules of Criminal Procedure includes many skilled [*856] members with considerable experience in
drafting rules. The Committee is well aware of the CVRA. Shortly after the passage of the CVRA, the Committee withdrew a
modest victim amendment it was proposing in anticipation of the need to make more extensive changes, 118 and is already
working on proposed amendments to the rules. 119 It is preferable to have victims integrated into the federal rules through
careful drafting by the Committee rather than by the potentially blunderbuss approach of direct congressional action.
For all these reasons, the Federal Rules of Criminal Procedure should be comprehensively amended to recognize the interests
of crime victims and thereby to allow victims to be full participants in the criminal process.
IV. Proposed Amendments to the Federal Rules of Criminal Procedure To Implement the CVRA
With the goal of effectively implementing the CVRA firmly in mind, the remainder of this Article proposes twenty-eight
specific rule changes for consideration by the Advisory Committee on Criminal Rules. The individual sections that follow first
110
18 U.S.C.A. 3771(a)(4) (Victims have ""the right to be … heard"" at any public proceeding ""involving … [a] plea."").
111
150 Cong. Rec. S4262 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).
112
Id. at S4271 (statement of Sen. Leahy).
113
California v. Am. Stores Co., 495 U.S. 271, 279 n.4 (1990) (quoting Cia. Petrolera Caribe, Inc. v. Arco Caribbean, Inc., 754 F.2d 404,
428 (1st Cir. 1990)).
114
150 Cong. Rec. S4269 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl).
115
Id. (statement of Sen. Feinstein).
116
Interview with Steve J. Twist, Nat'l Victims' Constitutional Amendment Network (March 11, 2005).
117
See supra notes 27-34 and accompanying text (recounting victims' legislation passed by Congress).
118
See infra note 223 and accompanying text.
119
Telephone interview with Judge Susan C. Bucklew, Chair, Adv. Comm. on Fed. Rules of Criminal Procedure (May 2005).
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recite a specific proposed change followed by the rationale for that change as both a matter of law and of policy. For
convenience, this Article discusses the proposed changes sequentially, beginning with Rule 1.
Rule 1 - Definition of ""Victim""
The Proposal:
Rule 1 should be amended to include the following definition of a victim:
""Victim"" means a person directly and proximately harmed as a result of the commission of a federal offense or an offense in the
District of Columbia. In the case of a crime victim who is under 18 years of age, incompetent, incapacitated, or deceased, the
legal guardians of the crime victim or the representatives of the crime victim's estate, family members, or any other persons
appointed as [*857] suitable by the court, may assume the crime victim's rights under these rules, but in no event shall the
defendant be named as such guardian or representative.
The Rationale:
The CVRA directly defines ""victim"" using this language, 120 which ought to be folded into the rules for convenience. The
rules currently define such terms as ""attorney for the government,"" ""federal judge,"" and ""petty offense."" 121 ""Victim"" should
likewise be defined.
A definition is required for a second reason: Rule 32 currently contains a differing definition of ""victim"" as ""an individual
against whom the defendant committed an offense for which the court will impose sentence."" 122 Because that definition varies
from that mandated by the CVRA, it must be changed. Furthermore, the CVRA's definition comes with an interpretative
history. 123 The CVRA's definition of ""victim"" is taken almost verbatim from the 1996 Mandatory Victims Restitution Act
(MVRA). 124 In turn, the MVRA drew on the 1982 Victim Witness Protection Act (VWPA). 125 As a result, the CVRA uses a
definition of ""victim"" that is more than twenty-two years old and that has not produced major administrative or definitional
problems. Courts will be able to draw from that history to determine who qualifies as a ""victim."" 126
120
18 U.S.C.A. 3771(e) (West 2004 & Supp. 2005).
121
See Fed. R. Crim. P. 1(b)(1), 1(b)(3), 1(b)(8).
122
Id. at 32(a)(2).
123
See generally Beloof, Cassell & Twist, supra note 15, at 49-69 (reviewing different definitions of ""victim"" for purposes of crime victims'
legislation).
124
See 18 U.S.C. 3663A(a)(2). For differences from the old law, see Twist, supra note 2.
125
See 18 U.S.C. 3663(a)(2).
126
See, e.g., Hughey v. United States, 495 U.S. 411 (1990) (holding that VWPA limited ""victim"" to victims of the actual offense of
conviction so that district court could not order restitution on basis of charges that were dropped as part of plea agreement); United States v.
Follet, 269 F.3d 996 (9th Cir. 2001) (holding that a free clinic was not a ""victim"" of the defendant's rape of his niece); Moore v. United
States, 178 F.3d 994 (8th Cir. 1999) (holding that a bank customer was ""victim"" of attempted bank robbery under MVRA where defendant
pointed a sawed-off shotgun at the customer and the teller, who were standing only two feet apart, while demanding money), cert. denied,
528 U.S. 943 (1999); United States v. Sanga, 967 F.2d 1332 (9th Cir. 1992) (holding that foreign national who conspired to be brought into
United States illegally was still a ""victim"" of the conspiracy where her smuggler threatened her life and forced her to work as live-in maid
once she had arrived); United States v. Bedonie, 317 F. Supp. 2d 1285 (D. Utah 2004) (holding that ""victim"" in manslaughter case under
MVRA was murdered person himself and not the estate), rev'd on other grounds, United States v. Serawop, 410 F.3d 656 (10th Cir. 2005).
See generally John F. Wagner, Jr., Annotation, Who Is a ""Victim,"" So as To Be Entitled to Restitution Under Victim and Witness Protection
Act, 108 A.L.R. Fed. 828 (2005).
A few new issues will need to be litigated. For example, the Hughey case noted above conflicts with the views of Senator Jon Kyl, cosponsor
of the CVRA, who explained that the definition of ""victim"" in the CVRA is an intentionally broad definition because ""all victims of
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[*858] Rule 1 also appears to be the best place to include the CVRA's language about a ""representative"" of a victim. This
language, too, draws from the restitution statutes. 127
Rule 2 - Fairness to Victims in Construction
The Proposal:
Rule 2 should be amended to require fairness to victims in construing the rules as follows:
These rules are to be interpreted to provide for the just determination of every criminal proceeding, to secure simplicity in
procedure and fairness in administration to the government, defendants, and victims, and to eliminate unjustifiable expense and
delay.
The Rationale:
The CVRA broadly mandates that victims have the right to ""be treated with fairness and with respect for the victim's dignity
and privacy."" 128 This creates a substantive right to fairness, similar to that found in various state victims' rights amendments -
including the [*859] amendment found in Senator Kyl's home state of Arizona. 129 This broad reading was explained by
Senator Kyl, who, along with Senators Feinstein and Hatch, was the primary legislative sponsor of the CVRA: ""The broad
rights articulated in this section are meant to be rights themselves and are not intended to just be aspirational. One of these
rights is the right to be treated with fairness. Of course, fairness includes the notion of due process."" 130
In light of victims' new substantive right to fairness, Rule 2 should be amended to make clear that all of the rules must be
construed to be fair to victims no less than to the government and defendants.
(New) Rule 10.1 - Notice of Proceedings for Victims
The Proposal:
A new Rule 10.1 should be added to guarantee victims their right to notice of proceedings as follows:
Rule 10.1 Notice to Victims.
crime deserve to have their rights protected, whether or not they are the victim of the count charged."" See 150 Cong. Rec. S10,910-01 (daily
ed. Oct. 9, 2004) (statement of Sen. Kyl). At least one court has suggested that, as a matter of discretion, it is desirable to notify even victims
of uncharged conduct under the CVRA. See United States v. Turner, 367 F. Supp. 2d 319, 327 (E.D.N.Y. 2005) (concluding that, absent
reason to think otherwise, any person who the government asserts has been harmed by a crime or who self-identifies as such qualifies as a
""victim""); cf. In re W.R. Huff Asset Mgmt. Co., 409 F.3d 555, 561 (2d Cir. 2005) (holding that the CVRA does not grant victims any rights
against individuals not convicted of a crime, but the government can attempt to obtain voluntary restitution from such persons).
127
See, e.g., 18 U.S.C. 3663A(a) (same definition of victim ""representative"").
128
18 U.S.C.A. 3771(a)(8) (West 2004 & Supp. 2005).
129
See, e.g., Ariz. Const. art. II, 2(A)(1) (victim's right ""to be treated with fairness, respect, and dignity""); see also Alaska Const. art. I, 24
(victim's right ""to be treated with dignity, respect, and fairness during all phases of the criminal and juvenile justice process""); Idaho Const.
art. I, 22 (victim's right ""to be treated with fairness, respect, dignity and privacy throughout the criminal justice process""); Ill. Const. art. I, 8.1
(victims ""to be treated with fairness and respect for their dignity""); Mich. Const. art. I, 24 (victims ""to be treated with fairness and respect for
their dignity and privacy throughout the criminal justice process""); N.J. Const. art. I, P 22 (victim's right to ""be treated with fairness,
compassion and respect by the criminal justice system""); N.M. Const. art. II, 24 (the ""right to be treated with fairness and respect for the
victim's dignity and privacy throughout the criminal justice process""); Ohio Const. art. I, 10a (victims ""shall be accorded fairness, dignity,
and respect in the criminal justice process""); Tex. Const. art. I, 30(a)(1) (""right to be treated with fairness and with respect for the victim's
dignity and privacy throughout the criminal justice process""); Utah Const. art. I, 28(1)(a) (victim's right to be ""treated with fairness, respect,
and dignity""); Wis. Const. art. I, 9m (victim's right to be treated with ""fairness, dignity and respect for their privacy""). See generally Cassell,
supra note 15, at 1387-88 (discussing victims' right to fairness in Utah).
130
150 Cong. Rec. 4269 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl).
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(a) Identification of Victim. During the prosecution of a case, the attorney for the government shall, at the earliest reasonable
opportunity, identify the victims of the crime.
[*860]
(b) Notice of Case Events. During the prosecution of a crime, the attorney for the government shall make reasonable efforts to
provide victims the earliest possible notice of:
(1) The scheduling, including scheduling changes and/or continuances, of each court proceeding that the victim is either
required to attend or entitled to attend;
(2) The release or detention status of a defendant or suspected offender;
(3) The filing of charges against a defendant, or the proposed dismissal of all charges, including the placement of the defendant
in a pretrial diversion program and the conditions thereon;
(4) The right to make a statement about pretrial release of the defendant;
(5) The victim's right to make a statement about acceptance of a plea of guilty or nolo contendere;
(6) The victim's right to attend public proceedings;
(7) If the defendant is convicted, the date and place set for sentencing and the victim's right to address the court at sentencing;
and
(8) After the defendant is sentenced, the sentence imposed and the availability of the Bureau of Prisons notification program,
which shall provide the date, if any, on which the offender will be eligible for parole or supervised release.
(c) Multiple Victims. The attorney for the government shall advise the court if the attorney believes that the number of victims
makes it impracticable to provide personal notice to each victim. If the court finds that the number of victims makes it
impracticable to give personal notice to each victim desiring to receive notice, the court shall fashion a reasonable procedure
calculated to give reasonable notice under the circumstances.
The Rationale:
This proposed change stems from the CVRA's requirement that victims have the ""right to reasonable, accurate, and timely
notice of [*861] any public court proceeding … involving the crime."" 131 Senator Feinstein explained the importance of
giving victims notice:
Victims are the persons who are directly harmed by the crime and they have a stake in the criminal process because of that
harm. Their lives are significantly altered by the crime and they have to live with the consequences for the rest of their lives. To
deny them the opportunity to know of and be present at proceedings is counter to the fundamental principles of this country. It
is simply wrong. 132
Under the CVRA, then, victims of the crime allegedly committed by the defendant 133 are entitled to notice of court
proceedings. The tricky issue is who should provide that notice to victims. This responsibility must fall on prosecutors and their
investigative agents for several reasons. First, prosecutors and their agents are the only parties who know the identity of the
victims at the outset of the case. After a bank robbery, for example, it is the FBI agents who respond and interview the tellers.
131
18 U.S.C.A. 3771(a)(2).
132
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein); see also id. at S4267 (statement of Sen. Kyl) (""It does not
make sense to enact victims' rights that are rendered useless because the victim never knew of the proceeding at which the right had to be
asserted."").
133
See United States v. Guevara-Toloso, 2005 U.S. Dist. LEXIS 9762 (E.D.N.Y. 2005) (noting that CVRA requires notice to victims of the
crime charged against the defendant but not notice to victims of any previous crimes the defendant may have committed).
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Second, prosecutors and their agents continue dealing with victims throughout the course of a prosecution. They work with
victims in investigating the crime, identifying potential defendants, preparing the indictment, and presenting evidence to the
grand jury and at trial. Because of this working relationship, prosecutors are best situated to provide notice in most cases.
Third, most crime victims lack legal counsel and are unfamiliar with federal criminal proceedings. They may need assistance
from someone familiar with the process to understand what is happening. United States Attorneys' offices, including the victimwitness
components in those offices, are well situated to provide that assistance. As the President's [*862] Task Force of
Victims of Crime concluded, the prosecutor is ""in the best position to explain to victims the legal significance of various
motions and proceedings."" 134 For all these reasons, prosecutors should notify victims of their rights and of upcoming
hearings. 135 Most states that have addressed the issue follow this approach. 136
The Justice Department appears to agree that it should notify victims. In the 2000 Attorney General Guidelines for Victim and
Witness Assistance, the Department required prosecutors and their [*863] agents to provide notice to crime victims. In
particular, the Guidelines currently obligate prosecutors to provide victims with ""the earliest possible notice"" of:
(a) The release or detention status of an offender or suspected offender … .
(b) The filing of charges against a suspected offender, or the proposed dismissal of all charges … .
(c) The scheduling, including scheduling changes and/or continuances, of each court proceeding that the victim or witness is
either required to attend or entitled to attend … .
(d) The acceptance of a plea of guilty or nolo contendere or the rendering of a verdict after trial … .
(e) If the offender is convicted, the date set for sentencing, the sentence imposed … . 137
134
President's Task Force on Victims of Crime, Final Report 64 (1982).
135
But cf. United States v. Turner, 367 F. Supp. 2d 319, 328 (E.D.N.Y. 2005) (concluding that, in the absence of a national rule requiring
prosecutors to provide notice to victims, the court would direct the prosecutor to provide the name and contact information of each victim so
that the court can ensure that notice is properly given).
136
See, e.g., Ala. Code 15-23-62(8) (2000) (requiring law enforcement officers to give victims initial description of their rights and ""the
name and telephone number of the office of the prosecuting attorney to contact for further information""); Ariz. Rev. Stat. 13-4409 (2001)
(requiring prosecutor to provide notice to victim of criminal proceedings; Conn. Gen. Stat. Ann. 51-286e (2000) (requiring prosecutor to
notify victim of any judicial proceedings related to the case); Del. Code Ann. tit. 11, 9411 (2001) (requiring Attorney General to provide
information to victim including ""notice of the scheduling of court proceedings and changes including trial date, case review and sentencing
hearings""); Ga. Code Ann. 17-17-8(b) (2004) (requiring prosecutor where possible to give victim ""prompt advance notification of any
scheduled court proceedings""); Ky. Rev. Stat. Ann. 421.500.5 (LexisNexis 1992) (requiring prosecutor to provide victim ""prompt notification,
if possible, of judicial proceedings relating to the case""); Me. Rev. Stat. Ann. tit. 15, 6101 (2003) (requiring prosecutor to provide victims of
certain crimes notice of any plea agreement and of trial date); Mass. Gen. Laws Ann. ch. 258B, 3 (West 2004) (requiring prosecutor to give
victims notice of various rights); Mich. Comp. Laws Ann. 780.755(1) (West 1998) (requiring prosecutor to give victims notice of court
proceedings); Minn. Stat. Ann. 611A.03 (West 2003) (requiring prosecutor to give victim notice of plea agreement and sentencing hearing);
N.M. Stat. Ann. 31-26-9(B) (LexisNexis 2004) (requiring prosecutor to provide victim with notice of scheduled court proceedings); N.Y.
[Executive] Law. 646a (McKinney 2005) (requiring prosecutor to provide notice of court proceedings); S.D. Codified Laws 23A-28C-1
(2004) (requiring prosecutor to notify victim of certain hearings); Tenn. Code Ann. 40-38-103 (2003) (requiring prosecutor to notify victim of
""times, dates, and locations of all pertinent stages in the proceedings""); Tex. Code Crim. Proc. Ann. art. 56.08(b) (Vernon 2004) (requiring
prosecutor to give victim notice of court proceedings); Utah Code Ann. 77-38-3 (2004) (requiring prosecutor to give victim notice of
""important criminal justice hearings""); Wis. Stat. Ann. 972.14(2m) (West 1998) (""Before pronouncing sentence, the court shall inquire of the
district attorney whether he or she has complied with 971.095(2) and with sub. (3)(b), whether any of the victims of a crime considered at
sentencing requested notice of the date, time and place of the sentencing hearing and, if so, whether the district attorney provided to the
victim notice of the date, time and place of the sentencing hearing.""); Wyo. Stat. Ann. 1-40-204(b)(i) (2004) (requiring prosecutor to inform
victim about all hearings). But see Ohio Rev. Code Ann. 2930.06(C) (2005) (requiring court to give notice to victim of court proceedings).
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To avoid creating only significant new responsibilities for prosecutors and their agents, the proposed new Rule 10.1 is lifted
essentially verbatim from the 2000 Attorney General Guidelines for Victim and Witness Assistance. The 2005 revisions to the
Guidelines continue essentially the same requirements. 138
The drafters of the CVRA also appear to believe that the notification obligations will fall primarily on prosecutors' offices, as
the CVRA authorizes an appropriation of $ 22,000,000 over the next five fiscal years to the Office for Victims of Crime of the
Department of Justice for enhancement of victim notification systems. 139 [*864] Presumably, those enhanced new
notification systems can be used to keep victims apprised of court proceedings. Moreover, the CVRA directs that the
Department of Justice and its investigative agencies ""shall make their best efforts to see that crime victims are notified of, and
accorded, the rights described in subsection (a)."" 140
Proposed new Rule 10.1 adds only two new obligations beyond those found in the 2000 Attorney General Guidelines: (1)
notice to victims of their right to make a statement regarding any proposed plea, and (2) notice to victims of their right to attend
public proceedings. Both of these obligations are currently found in the 2005 Guidelines. 141
One last issue deserves brief discussion: Is it proper for the Judiciary, through the rule-making process, to command another
branch of government to take certain actions? 142 The starting point for analyzing this question is the congressional command
in the CVRA that the executive branch must protect victims' rights. 143 Consequently, implementing these rights through rule
changes presents no question of the courts inventing new rights or exercising some kind of ""supervisory"" power over federal
agents. 144 Instead, the implementation is simply enforcing congressionally created rights through the Judiciary's
congressionally authorized rulemaking authority - an uncontroversial exercise of judicial power. 145 Moreover, in the CVRA,
Congress commanded the courts to ""ensure that the crime victim is afforded the rights described [in the CVRA]."" 146 Rule
changes needed to implement the CVRA thus rest [*865] on this statutory authority as well. Additionally, this Article's
proposals affecting prosecutors are closely connected to court proceedings; they deal with such things as prosecutors notifying
victims of hearings and conferring with victims in anticipation thereof. It is difficult to see new separation of powers concerns
arising in such contexts so closely connected to the courtroom.
137
See 2000 A.G. Guidelines, supra note 38; see also U.S. Dept. of Justice, Office for Victims of Crime, New Directions from the Field:
Victims' Rights and Services for the 21st Century 82 (1998) (""Prosecutors' offices should notify victims in a timely manner"" of all significant
hearings.).
138
See 2005 A.G. Guidelines, supra note 38, at 27-29 (providing for notice to victims, although relying on the department's Victim
Notification Systems (VNS) to do this).
139
See 118 Stat. 2260, 2264 (2004); see also 150 Cong. Rec. S4267 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl) (""We authorized an
appropriation of funds to assure … that moneys would be made available to enhance the victim notification system, managed by the
Department of Justice's Office for Victims of Crime, and the resources additionally to develop state-of-the-art systems for notifying crime
victims of important statements of development) (emphasis added). But cf. id. (discussing court notification of attorneys of record and
concluding ""it is a relatively simple matter to add another name and telephone number or address to that list"").
140
18 U.S.C.A. 3771(c)(1) (West 2004 & Supp. 2005) (emphasis added).
141
See 2005 A.G. Guidelines, supra note 38, at 27 (prosecutors to notify victims of all their rights under the CVRA).
142
Victims cannot rely on the provisions of the Attorney General Guidelines to protect their rights because the Guidelines themselves state
that they ""are not intended to … and may not be relied upon to create any rights … enforceable at law by any person in a matter civil or
criminal."" 2005 A.G. Guidelines, supra note 38, at 27.
143
18 U.S.C.A. 3771(c)(1).
144
Cf. Sarah Sun Beale, Reconsidering Supervisory Power in Criminal Cases: Constitutional and Statutory Limits on the Authority of the
Federal Courts, 84 Colum. L. Rev. 1433 (1984) (discussing more problematic applications of judicial power).
145
See id. at 1476-77; 28 U.S.C. 2071, 2072 (establishing court rule-making power).
146
18 U.S.C. 3771(b) (emphasis added).
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Furthermore, the Federal Rules of Criminal Procedure already direct executive branch actions less directly connected to court
hearings. For instance, Rule 16 directs that prosecutors must turn over various discoverable items to the defendant. 147 Rule 41
directs federal agents serving a warrant to leave a copy for the person whose premises are searched. 148 And, most
controversially, Rule 5 directs that federal agents making an arrest ""must take the defendant without unnecessary delay"" before
a judicial officer. 149 The kinds of rule changes discussed in this Article are far less invasive than these commands. Finally, it
should be remembered that federal prosecutors serve as ""officers of the court."" 150 In that capacity, the court can be reasonably
expected to facilitate victims' involvement in the criminal justice process. 151 For all of these reasons, this proposed rule breaks
no new ground in directing prosecutors to notify victims of courtroom proceedings.
Rule 11(a)(3) - Victims' Views on Nolo Contendere Pleas
The Proposal:
Rule 11's procedures on pleas should be revised to allow victims to express their views on any plea of nolo contendere before
the court decides whether to accept it as follows:
[*866]
(a)(3) Nolo Contendere Plea. Before accepting a plea of nolo contendere, the court must consider the parties' and victims' views
and the public interest in the effective administration of justice.
The Rationale:
As discussed at greater length in the immediately following sections, the CVRA gives victims the right to be heard regarding
any plea, presumably including any nolo contendere plea. It is a natural corollary that the court should consider the victim's
views before accepting any such plea.
Rule 11(b)(4) - Victims' Right To Be Heard on Pleas
The Proposal:
The court should address any victim present in court when taking a plea in order to determine whether the victim wishes to
make a statement and to consider the victim's view before accepting a plea as follows:
(4)[cfn ]Victims' Views. Before the court accepts a plea of guilty or nolo contendere or allows any plea to be withdrawn, the
court must address any victim who is present personally in open court. During this address, the court must determine whether
the victim wishes to present views regarding the proposed plea or withdrawal and, if so, what those views are. The court shall
consider the victim's views in acting on the proposed plea or withdrawal.
The Rationale:
The CVRA gives victims the right ""to be reasonably heard at any public proceeding in the district court involving … [a] plea.""
152 Many states afford victims similar rights. 153 The rationale for a [*867] victim's right to be heard regarding a plea is to
147
Fed. R. Crim. P. 16(a)(1).
148
Id. at 41(f)(3).
149
Id. at 5(a)(1). See generally, Office of Legal Policy, Report to the Att'y Gen. on the Judiciary's Use of Supervisory Power To Control Law
Enforcement Action (Dec. 15, 1986), reprinted in 22 Mich. J.L. & Reform 773 (1989).
150
See United States v. Sells Eng., Inc., 463 U.S. 418, 466 (Burger, C.J., dissenting).
151
See, e.g., State v. Casey, 44 P.3d 756 (Utah 2002), discussed infra notes 163-66 and accompanying text.
152
18 U.S.C.A. 3771(a)(4) (West 2004 & Supp. 2005); see In re Kari Ann Jacobsen, 2005 U.S. App. LEXIS 13990 (D.C. Cir. 2005) (noting
victim's right to be heard on pleas).
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provide the judge with as much information as possible. The court is under no obligation to accept a plea proposed by the
parties. 154 After hearing from the victim about the plea, the court can determine what weight to give to the victim's views. 155
To implement the victim's right to be heard regarding a plea, the proposed rule change requires the court to directly address any
victim present in court. This is consistent with the CVRA's legislative history that explains that ""this provision is intended to
allow crime victims to directly address the court in person."" 156 The language of the proposed rule is lifted from an earlier
paragraph in Rule 11, which requires the court to ""address the defendant personally in open court"" ""before accepting a plea of
guilty."" 157 Victims should be treated even-handedly. It may be important for the judge to address victims directly because
many victims will lack the assistance of counsel. As novices in legal proceedings, victims may be uncertain about exactly when
in the process they should present their views. By addressing victims, the court will eliminate that uncertainty and ensure that
the victim's right to be heard is vindicated.
[*868]
Rule 11(c)(1) - Prosecution To Consider Victims' Views on Pleas
The Proposal:
The prosecution should be required to consider the victims' views in developing any proposed plea arrangement as follows:
(1) In General. An attorney for the government and the defendant's attorney, or the defendant when proceeding pro se, may
discuss and reach a plea agreement. The court must not participate in these discussions. The attorney for the government shall
make reasonable efforts to notify identified victims of, and consider the victims' views about, any proposed plea negotiations. If
the defendant pleads guilty or nolo contendere to either a charged offense or a lesser or related offense, the plea agreement may
specify that an attorney for the government will … .
The Rationale:
The proposed change requires prosecutors to make reasonable efforts to notify victims about possible plea bargains and to
consider the victim's views regarding those pleas. This requirement is taken essentially verbatim from the Attorney General
Guidelines for Victim and Witness Assistance, which direct prosecutors to ""make reasonable efforts to notify identified victims
153
See, e.g., Conn. Const. art. 1, 8 (giving victim right to be heard and to object to plea agreement); Mo. Const. art. 1, 32 (giving victim right
to be heard at plea hearing); Utah Const. art. I, 28(1)(b) (giving victim the ""right to be heard at important criminal justice hearings related to
the victim""); Ala. Code 15-23-71 (2000) (giving victim right to be present at plea hearing and requiring prosecutor to confer with victim
about plea); Ariz. Rev. Stat. 13-4423 (2001) (giving victim right to be present and heard at plea hearing and requiring prosecutor to confer
with victim about plea); Minn. Stat. Ann. 611A.03 (West 2003) (giving victim right to be heard at plea hearing); Miss. Code Ann. 99-43-33
(2000) (giving victim right to make statement at plea hearing); N.H. Rev. Stat. 21-M:8-k (2000) (giving victim right to be heard at plea
hearing); R.I. Stat. 12-28-4.1 (2000) (giving victim right to make statement at plea hearing). See generally Beloof, Cassell & Twist, supra
note 15, at 476-94 (discussing victims and pleas); Sarah N. Welling, Victim Participation in Plea Bargains, 65 Wash. U. L.Q. 301 (1987).
154
See, e.g., United States v. Bean, 564 F.2d 700 (5th Cir. 1977).
155
But cf. George P. Fletcher, With Justice for Some: Victims' Rights in Criminal Trials 252, 257-58 (1995) (proposing that victims have a
veto over any plea); Bennett L. Gershman, Crimes Against Victims: The Prosecutor's Duty of Neutrality, 9 Lewis & Clark L. Rev.
(forthcoming 2005) (discussing situations in which victims have effectively been given a veto over pleas); Karen L. Kennard, Comment, The
Victim's Veto: A Way To Increase Victim Impact on Criminal Case Dispositions, 77 Cal. L. Rev. 417, 437 (1989) (advocating that victims be
given a veto over any plea).
156
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl).
157
Fed. R. Crim. P. 11(b)(2).
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of, and consider victims' views about, prospective plea negotiations."" 158 Twenty-nine states already require prosecutors to
""consult with"" or ""obtain the views of"" victims at the plea agreement stage. 159
The proposed rule helps to implement not only a victim's right to be heard at plea proceedings but also the right to ""confer with
the attorney for the Government."" 160 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 [*869] right to confer with the Government concerning any critical stage or disposition of the case."" 161
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 taken by
the majority of states, directing prosecutors to consult with victims about pleas.
Rule 11(c)(2) - Court To Be Advised of Victim Objections to Plea
The Proposal:
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.
The Rationale:
When an attorney for the victim or for the government is aware that a victim objects to a plea, that information should be
relayed to the court. In those rare cases where the victim has an attorney, the attorney will obviously raise the victim's
objection. The proposed rule change clarifies the prosecutor's corresponding and equal obligation to communicate this
information to the court.
The CVRA appears to obligate prosecutors to relay a victim's objection to the court, commanding them to use their ""best
efforts"" to enforce victims' rights. 162 Part of those ""best efforts"" would seem to be conveying objections to the court. Victims
are often untrained in the law and unexpectedly thrust into criminal proceedings; they may well believe that prosecutors
automatically relay to the court [*870] their objections to the plea. The proposed rule avoids such 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 instructive case of State v. Casey, 163 which considered whether a victim's objection to a
plea made to a prosecutor was sufficient to trigger the victim's right to be heard under the Utah Constitution. 164 In Casey, the
victim told the prosecutor that she opposed a plea arrangement. The prosecutor refused to convey the victim's concern to the
158
2005 A.G. Guidelines, supra note 38, at 30 (defining what can be considered in determining whether notice is reasonable in a particular
case); see also Office for Victims of Crime, supra note 137, at 75 (""Prosecutors should make every effort … to consult with the victim on the
terms of any negotiated plea … ."").
159
Office for Victims of Crime, supra note 137, at 75.
160
18 U.S.C.A. 3771(a)(5) (West 2004 & Supp. 2005).
161
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).
162
18 U.S.C.A. 3771(c).
163
44 P.3d 756 (Utah 2002). I represented the victim in this case.
164
See generally Nicole G. Farrell, Recent Case Development, 2003 Utah L. Rev. 716.
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court, and the trial judge accepted the plea. The victim then obtained legal counsel and appealed to the Utah Supreme Court,
urging that under the Utah Victims' Rights Amendment, her right to be heard regarding a plea had been violated. The State
responded that the victim was obligated to ask the trial court directly to be heard rather than relying on the prosecutor to pass
that information along. In rejecting the State's argument, the Utah Supreme Court explained that prosecutors, no less than other
actors in the criminal justice system, were required to assist victims throughout the process. 165 More important for present
purposes, the court also concluded that prosecutors had ethical obligations as officers of the court to convey that information to
the judge:
Prosecutors must convey such requests [to be heard] because they are obligated to alert the court when they know that the court
lacks relevant information. This duty, which is incumbent upon all attorneys, is magnified for prosecutors because, as our case
law has repeatedly noted, prosecutors have unique responsibilities… . The prosecutor is the representative not of an ordinary
party to a controversy, but of a sovereignty whose obligation to govern impartially is as compelling as its obligation to govern
at all; and whose interest … in a criminal prosecution is not that it shall win … but that justice shall be done. 166
Applying the reasoning of Casey to analogous rights in the CVRA, federal prosecutors must, as officers of the court, convey a
[*871] victim's request to be heard regarding a plea. Indeed, the prosecutor should convey not only the request to be heard but
also the fact that the victim objects to the plea. In deciding whether to accept a plea, the court must consider the public interest.
167 As the Tenth Circuit has explained, """"Rule 11 also contemplates the rejection of a negotiated plea when the district court
believes that bargain is too lenient, or otherwise not in the public interest.'"" 168 When the prosecutor is aware of an objection
from a keenly interested member of the public - the victim - the court should not be left in the dark about it.
An alternative way of drafting the rule is to require courts to inquire of prosecutors whether the victim has been advised of the
proposed plea and whether the victim wishes to make a statement concerning it. 169 For example, Oregon requires the court to
ask the prosecutor whether the victim has been consulted about a plea and, if so, what the victim's view is:
Before the judge accepts a plea of guilty or no contest, the judge shall ask the district attorney if the victim requested to be
notified and consulted regarding plea discussions. If the victim has made such a request, the judge shall ask the district attorney
if the victim agrees or disagrees with the plea discussions and agreement and the victim's reasons for agreement or
disagreement. 170
South Dakota law contains a similar requirement that prosecutors disclose ""any comments"" by the victim about the plea. 171
Texas law requires the court to ask the prosecutor whether a victim impact statement has been submitted; 172 if so, the court
165
Casey, 44 P.3d at 763.
166
Id. at 764 (internal quotations and citations omitted).
167
See, e.g., United States v. Bean, 564 F.2d 700 (5th Cir. 1977).
168
United States v. Carrigan, 778 F.2d 1454, 1462 (10th Cir. 1985) (emphasis added) (quoting United States v. Miller, 722 F.2d 562, 563
(9th Cir. 1983)).
169
See Office for Victims of Crime, supra note 137, at 108 (""Judges should facilitate the input of crime victims into plea agreements … and
they should request that prosecuting attorneys demonstrate that reasonable efforts were made to confer with the victim."").
170
Or. Rev. Stat. 135.406(1)(b) (2003).
171
S.D. Codified Laws 23A-7-9 (2004) (""The prosecuting attorney shall disclose on the record any comments on the plea agreement made by
the victim, or his designee, of the defendant's crime to the prosecuting attorney."").
172
Tex. Code Crim. Proc. Ann. art. 26.13(e) (Vernon Supp. 2004) (""Before accepting a plea of guilty or a plea of nolo contendere, the court
shall inquire as to whether a victim impact statement has been returned to the attorney representing the state and ask for a copy of the
statement if one has been returned."").
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must review that [*872] statement. 173 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. 174
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."" 175 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
173
See id.
174
Ariz. Rev. Stat. Ann. 13-4423(b)(1) (2001).
175
18 U.S.C.A. 3771(a)(1) (West 2004 & Supp. 2005).
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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. 176
[*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
will be materially affected. 177 Depositions authorized by Rule 15 are for the purpose of preserving evidence for trial, 178 and
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,
179 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 information 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
176
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).
177
18 U.S.C.A. 3771(a)(3).
178
See, e.g., United States v. Edwards, 69 F.3d 419, 437 (10th Cir. 1995).
179
18 U.S.C.A. 3771(a)(3), discussed infra notes 276-308 and accompanying text.
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criminal proceedings involving the kidnapping of Elizabeth Smart. Elizabeth was kidnapped from her home in Salt Lake City,
Utah. She was found nearly nine months later with a local transient and his wife, who had taken Elizabeth at knifepoint. 180
Attorneys for Elizabeth's alleged kidnapper subpoenaed class records from her high school - class and teacher lists, report
cards, and disciplinary and attendance records - and medical records from her hospital. 181 While the hospital refused to turn
over the requested records, the school willingly turned over the requested records without notice to the Smart family.
Elizabeth's father learned about the subpoena only after her school records had already been turned over to defense counsel.
The Smart family [*876] attorney then filed a motion to return the records to the school. Prosecutors in the case have objected
to the fact that they were not given an opportunity to file a motion to quash. 182 The matter is still under review in state court.
The problem that occurred in the Smart case under the Utah rules could also occur under the federal rules. 183 The federal rules
currently allow the witness to whom the subpoena is issued to object, 184 but there is no provision for notifying the victim
when personal or confidential information has been subpoenaed from another witness.
Serving such subpoenas without notice to the victim violates the provisions of the CVRA guaranteeing victims the rights to be
treated ""with respect for the victim's dignity and privacy"" and ""with fairness."" 185 Allowing subpoenas to go directly to thirdparty
custodians of records can fail to protect privacy if the custodian is disinterested or disinclined to protect the victim's
privacy. Such a scenario is not far-fetched; a third party who is subpoenaed will often have no interest in incurring legal fees to
protect a victim's rights. Even if interested, third parties may not fully understand the sensitive nature of certain victim
information. Victims may also have important statutory rights to protect. In the Elizabeth Smart case, for example, the school
may have violated the Family Educational Rights and Privacy Act by turning over private information about Elizabeth. 186
Subpoenas served without notice to victims may also raise constitutional concerns. 187 It is well settled that a right to privacy
is implicitly incorporated within the protections guaranteed under the [*877] United States Constitution. The Supreme Court
""has recognized that a right of personal privacy, or a guarantee of certain areas or zones of privacy, does exist under the
Constitution."" 188 Supreme Court precedent establishes two lines of privacy interests: (1) the ""individual interest in avoiding
disclosure of personal matters"" and (2) ""the interest in independence in making certain kinds of important decisions."" 189 In
essence, the right to privacy includes an individual's interest in making certain decisions that fundamentally affect his or her
person ""free from unwarranted governmental intrusion."" 190 In light of interests such as these, several courts have held that
crime victims' records - such as rape crisis counseling records - are not subject to subpoena. 191
180
See generally Ed Smart & Lois Smart with Laura Morton, Bringing Elizabeth Home: A Journey of Faith and Hope (2003).
181
Stephen Hunt, Defense Blasted for Obtaining Smart's School Records, Salt Lake Trib., Jan. 14, 2005, at B2.
182
Pat Reavy, Quash Smart Subpoenas, DA Says, Deseret Morning News, Feb. 1, 2005, at B3.
183
See Letter from Gregory G. Skordas, attorney for Elizabeth Smart, to Judge Susan Bucklew (May 23, 2005) (on file with author)
(proposing changes to the federal rules to avoid recurrence of this problem in federal court).
184
Fed. R. Crim. P. 17(c).
185
18 U.S.C.A. 3771(a)(8).
186
Pat Reavy, Elizabeth Wants Records Returned, Deseret Morning News, Jan. 15, 2005, at B3; see 20 U.S.C. 1232g (2000) (establishing
rights of privacy in educational records).
187
See generally Wendy J. Murphy, Using the Federal Courts To Make State Courts Respect Victims' Rights, 9 Lewis & Clark L. Rev.
(forthcoming 2005) (discussing federal constitutional rights of privacy for victims' confidential records).
188
Roe v. Wade, 410 U.S. 113, 152 (1973).
189
Whalen v. Roe, 429 U.S. 589, 599-600 (1977).
190
Eisenstadt v. Baird, 405 U.S. 438, 453 (1972); see also Carey v. Population Servs. Int'l, 431 U.S. 678, 684-85 (1977).
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The proposed new rule protects victims' statutory and potential constitutional interests in two ways. First, the court is required
to make a preliminary determination that the subpoena seeks information relevant at trial and that compliance appears to be
reasonable. This is consistent with the trial court's existing power to quash unreasonable subpoenas, including subpoenas
directed at crime victims. 192 Second, if the court makes a preliminary determination that the subpoena is appropriate, the
victim would then receive notice of the subpoena. To avoid harassment, the notice would be provided either through the
victim's own attorney or, more commonly, through the prosecutor.
The proposed rule makes no substantive change in the right of the party to obtain appropriate information through a subpoena.
Instead, it merely changes procedures to ensure victims are treated fairly by having the opportunity to file a motion to quash
where such [*878] a motion is appropriate. The court is then authorized to grant the victim's motion to quash under the same
standards that already apply to other motions to quash - where compliance would be ""unreasonable or oppressive."" 193
The proposed change does not interfere with the legitimate interests of the government or defendants. The change will not
hamper government investigations because it applies only to subpoenas issued after indictment. Before indictment, a victim's
privacy is protected through grand jury secrecy. After indictment, the only legitimate purpose for a subpoena by either the
government or the defendant is to obtain testimony or evidence for trial or similar court hearing. Rule 17 does not permit a
subpoena for discovery purposes, 194 although upon a proper showing a party can obtain pre-trial access to materials. 195
Therefore, when challenged by a victim on a motion to quash, the party seeking the evidence will prevail upon a proper
showing that the subpoena is appropriate. The only change made by the rule, then, is to require preliminary screening by the
court when confidential information is involved and give the victim the opportunity for court review in cases where legitimate
interests are at stake. Constitutional interests in privacy and the victim's right to be treated ""with fairness"" require nothing less.
Rule 18 - Victims' Interests Considered in Setting Place of Prosecution
The Proposal:
Rule 18 should be amended to require the court to consider the convenience of victims in setting the place of prosecution as
follows:
Unless a statute or these rules permit otherwise, the government must prosecute an offense in a district where the offense was
committed. The court must set the place of trial within the district with due regard for the convenience of the defendant, any
victim, and the witnesses, and the prompt administration of justice.
[*879]
The Rationale:
191
See, e.g., State ex rel. Romley v. Superior Courts, 836 P.2d 445, 451-52 (Ariz. Ct. App. 1992) (crime victim had the right to deny
defendant access to medical records); Commonwealth v. Wilson, 602 A.2d 1290, 1296-97 (Pa. 1992). See generally Tera Jckowski Peterson,
Distrust and Discovery: The Impending Debacle in Discovery of Rape Victims' Counseling Records in Utah, 2001 Utah L. Rev. 695; Anna Y.
Joo, Note, Broadening the Scope of Counselor-Patient Privilege To Protect the Privacy of the Sexual Assault Survivor, 32 Harv. J. on Legis.
255 (1995).
192
See, e.g., Amsler v. United States, 391 F.2d 37, 51 (9th Cir. 1967) (upholding trial court's decision to quash subpoena directed to
kidnapping victim's father for lack of materiality).
193
See Fed. R. Crim. P. 17(c)(2).
194
See generally United States v. Nixon, 418 U.S. 683, 689 (1974).
195
See id. at 699.
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This change helps to implement a victim's right under the CVRA to be treated ""with fairness."" 196 The rule change is modest.
Rule 18 already requires the court to consider the convenience of the ""witnesses"" in a case. In many cases, of course, the victim
will be a witness. But for clarity in those cases, and to account for cases in which the victim will not be a witness, the rule
should be amended to refer specifically to victims.
Rule 20 - Victims' Views Considered Regarding Consensual Transfer
The Proposal:
Rule 20 should be amended to allow the court to consider the victims' views in any decision to transfer a case as follows:
(a) Consent to Transfer. A prosecution may be transferred from the district where the indictment or information is pending, or
from which a warrant on a complaint has been issued, to the district where the defendant is arrested, held, or present if:
(1) the defendant states in writing a wish to plead guilty or nolo contendere and to waive trial in the district where the
indictment, information, or complaint is pending, consents in writing to the court's disposing of the case in the transferee
district, and files the statement in the transferee district; and
(2) the United States attorneys in both districts approve the transfer in writing after consultation with any victim. If any victim
objects to the transfer, the United States attorney in the transferring district or the victim's attorney shall advise the court where
the indictment or information is pending of the victim's concerns.
A similar change should be made to Rule 20(d) regarding transfer of juvenile proceedings.
[*880]
The Rationale:
As with the previous proposal, this change implements the victim's right under the CVRA to be ""treated with fairness."" 197
The procedure for transferring a case for a plea is not constitutionally required, but rather is designed for the convenience of the
defendant and the government. 198 In considering whether such administrative reasons justify a transfer, the concerns of the
victim appropriately enter into the balance. For reasons similar to those discussed above in connection with changes regarding
plea procedures, the prosecution would be directed to confer with the victim and to advise the court of any objection to the
transfer. 199
Rule 21 - Victims' Views Considered Regarding Transfer for Prejudice
The Proposal:
Rule 21 should be amended as follows to require consideration of the victim's interest in whether a case should be transferred:
(e) Victims' Views. The court shall not transfer any proceeding without giving any victim an opportunity to be heard. The court
shall consider the views of the victim in making any transfer decision.
The Rationale:
Rule 21 authorizes the trial judge to transfer a case to avoid prejudice or for the convenience of the parties. The proposed rule
would require that the court consider the victim's concerns in making any such transfer decision. Such consideration would
seem to be part and parcel of protecting the victim's right to be ""treated with fairness."" In addition, the vicinage provision of
196
18 U.S.C.A. 3771(a)(8) (West 2004 & Supp. 2005).
197
Id. 3771(a)(8).
198
See generally Wright, Federal Practice and Procedure 321, at 357-58.
199
See supra notes 158-174 and accompanying text.
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Article III and the public's First Amendment right of access to trials give constitutional dimensions to the victim's interest in
transfer decisions.
[*881] Victims may have compelling interests in observing the trial in their local community. 200 Traveling to a remote
location to watch the trial may be financially difficult for many victims and impossible for indigent victims. Moreover, forcing
victims to travel to distant communities alone may deprive them of the accompaniment and support of family and friends,
which may be especially important when observing emotionally charged court proceedings.
Defendants, too, have the right to have cases tried locally. Under the Sixth Amendment, ""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 … ."" 201 This right might be viewed as the defendant's to assert or waive as circumstances dictate. For
federal cases, however, the vicinage right is not exclusively placed in the hands of the defendant. Instead, Article III provides
that ""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."" 202
This difference in language supports the reading that the federal provision is a structural guarantee designed to protect broader
interests than the defendant's alone. 203 Moreover, the provision provides for trial in the state where the crime was committed.
In most cases, this state would be where the victim resided; whether the defendant also resided in that state would be incidental.
An understanding of the Article III provision as protecting the community's interest is bolstered by the Supreme Court's
decisions on right of public access to trials. In cases such as Richmond Newspapers, Inc. v. Virginia, 204 the Court has held
that a guarantee of the public's right to attend trials is implicit in the First Amendment. Compelling victims' interests underlie
this guarantee. As the Court has explained, ""the presence of interested spectators [*882] may keep [the defendant's] triers
keenly alive to a sense of their responsibility and to the importance of their functions."" 205 In addition, ""public proceedings
vindicate the concerns of the victims and the community in knowing that offenders are being brought to account for their
criminal conduct."" 206 As Justice Blackmun has emphasized, ""The victim of the crime, the family of the victim, [and] others
who have suffered similarly … have an interest in observing the course of a prosecution."" 207 Victims are vitally interested in
observing criminal trials because society has withdrawn ""both from the victim and the vigilante the enforcement of criminal
laws, but [it] cannot erase from people's consciousness the fundamental, natural yearning to see justice done - or even the urge
for retribution."" 208 To be sure, transferring a trial to a distant city may not flatly violate the public right of access to a trial, but
it can surely burden the rights of the public, including the victim, which suggests that victims ought to be heard before any such
decision is made.
The Article III vicinage provision and the public right of access to trials provide constitutional underpinnings for construing the
victim's rights under the CVRA to include a right to be heard on transfer proceedings. In addition, Congress has mandated that
200
See generally Beloof, Cassell & Twist, supra note 15, 392-99 (reviewing case law on the victim's interest in venue decisions).
201
U.S. Const. amend. VI (emphasis added).
202
Id. art. III, 2, cl. 3 (emphasis added).
203
See Steven A. Engel, The Public's Vicinage Right: A Constitutional Argument, 75 N.Y.U. L. Rev. 1658, 1687 (2000); see also Drew L.
Kirshen, Vicinage, 29 Okla. L. Rev. 803 (1976).
204
448 U.S. 555 (1980).
205
Gannett Co. v. DePasquale, 443 U.S. 368, 380 (1979) (internal citation omitted).
206
Press-Enterprise Co. v. Superior Court, 464 U.S. 501, 509 (1984).
207
Gannett Co., 443 U.S. at 428 (Blackmun, J., concurring in part and dissenting in part).
208
Richmond Newspapers, 448 U.S. at 571.
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victims be treated with fairness. This is a broad provision intended to be broadly construed and to give victims a right to due
process. As Senator Kyl has stated,
The broad rights articulated in this section are meant to be rights themselves and are not intended to just be aspirational. One of
these rights is the right to be treated with fairness. Of course, fairness includes the notion of due process. Too often victims of
crime experience a secondary victimization at the hands of the criminal justice system. This provision is intended to direct
Government agencies and employees, whether they are in executive or judicial branches, to treat victims of crime with the
respect they deserve and to afford them due process. 209
[*883] Clearly, Congress intended to afford crime victims a broad right to due process in criminal proceedings. Due process,
of course, uncontroversially includes a right to be heard. 210 Thus, victims should be heard before the court makes a transfer
decision.
Concluding that victims have a right to be heard on transfer decision does not mean, of course, that they will dictate the transfer
decision. In some cases, the defendant will be able to establish sufficiently pervasive prejudice in a particular community to
entitle him to a change of venue to protect his constitutional rights. 211 But the limited point here is that victims may provide
an important perspective that the judge ought to consider in reaching a decision. Moreover, even if the judge decides to transfer
a case, the victims may have valuable information for the judge on where to transfer the case to (e.g., to an adjacent state rather
than a distant one).
An illustration of the general approach of the proposed rule comes from State v. Timmendequas, 212 a capital case decided by
the New Jersey Supreme Court. In Timmendequas, the trial judge imported a jury from a distant community rather than force
the family of a murdered young girl to travel to another district. Construing New Jersey state law provisions similar to the
CVRA's, the New Jersey Supreme Court explained that the trial judge properly considered the views of the victim's family:
Over the past decade, both nationwide and in New Jersey, a significant amount of legislation has been passed implementing
increased levels of protection for victims of crime. Specifically, in New Jersey, the Legislature enacted the ""Crime Victim's Bill
of Rights."" That amendment marked the culmination of the Legislature's efforts to increase the participation of crime victims in
the criminal justice system.
[*884]
The purpose of the Victim's Rights Amendment was to ""enhance and protect the necessary role of crime victims and witnesses
in the criminal justice process. In furtherance of [that goal], the improved treatment of these persons should be assured through
the establishment of specific rights."" One of the enumerated rights guaranteed for victims is ""to have inconveniences associated
with participation in the criminal justice process minimized to the fullest extent possible.""
… .
… 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
209
150 Cong. Rec. S10,910-11 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl) (emphases added).
210
Mullane v. Central Hanover Bank & Trust Co., 339 U.S. 306, 314 (1950) (acknowledging that ""the fundamental requisite of due process
of law is the opportunity to be heard"" (quoting Grannis v. Ordean, 234 U.S. 385, 394 (1914))).
211
See, e.g., Irvin v. Dowd, 366 U.S. 717 (1961) (holding that prisoner should have been granted change of venue where pre-trial publicity
caused prejudice). But cf. Fletcher, supra note 155, at 252 (calling for abolition of a defendant's right to change venue because it ""is, in effect,
to accord the defense a whole peremptory challenge against the entire community"").
212
737 A.2d 55 (N.J. 1999).
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account does not constitute error, provided that the constitutional rights of the defendant are not denied or infringed on by that
decision. 213
Just as the New Jersey courts have recognized that victims' interests should be considered in transfer decisions, the federal
courts should do the same. Therefore, Rule 21 should be amended to allow victims to provide information to the judge on
transfer decisions.
Rule 23 - Victims' Views Considered Regarding Non-Jury Trial
The Proposal:
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.
[*885]
The Rationale:
In the federal courts the ""preferred"" trial method is a jury trial. 214 As Justice Blackmun has explained, the public has interests,
independent of a criminal defendant, in monitoring judges, police, and prosecutors - and in being educated about ""the manner
in which criminal justice is administered."" 215 Nonetheless, the Supreme Court has concluded that defendants can waive their
right to a jury trial. 216 To help protect the general public interest in trial by jury, Rule 23 requires not only prosecutor approval
217 but also judicial approval before proceeding by way of bench trial. This approval requires careful weighing of the
competing concerns. The Supreme Court has instructed that
213
Id. at 76 (internal citations omitted). The hardship to the victim was established via affidavits from the victim's family provided to the
court by the prosecutor.
214
See Singer v. United States, 380 U.S. 24, 35 (1965) (""Trial by jury has been established by the Constitution as the ""normal and preferable
mode of disposing of issues of fact in criminal cases.'"" (citation omitted)). See generally Rachel E. Barkow, Recharging the Jury: The
Criminal Jury's Constitutional Role in an Era of Mandatory Sentencing, 152 U. Pa. L. Rev. 33, 68 (2003).
215
Gannett Co. v. DePasquale, 443 U.S. 368, 428 (1979) (Blackmun, J., dissenting in part).
216
See Patton v. United States, 281 U.S. 276 (1930). But cf. Akhil Reed Amar, The Bill of Rights as a Constitution, 100 Yale L.J. 1131,
1196-98 (1991) (mounting a strong argument against Patton and noting that before 1930 court decisions had held jury trial could not be
waived).
217
Fed. R. Crim. P. 23(a)(2). But cf. Adam H. Kurland, Providing a Criminal Defendant with a Unilateral Right to a Bench Trial: A
Renewed Call To Amend Federal Rule of Criminal Procedure 23(a), 26 U.C. Davis L. Rev. 309 (1993) (suggesting that prosecutorial
consent should be eliminated by the legislature). See generally ABA Standards for Criminal Justice 15-1.2, cmt. at 15.17 (2d ed. 1980)
(concluding that arguments in favor of requiring prosecutorial approval of jury trial waivers outweigh those against).
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the duty of the trial court [in considering whether to approve a jury trial waiver] is not to be discharged as a mere matter of rote,
but with sound and advised discretion, with an eye to avoid unreasonable or undue departures from that mode of trial or from
any of the essential elements thereof, and with a caution increasing in degree as the offenses dealt with increase in gravity. 218
This is a ""serious and weighty responsibility."" 219
[*886] To discharge that serious and weighty responsibility, the trial court should receive as much information as possible.
The victim is often well situated to provide information about how the public will view a non-jury trial. The proposed rule
change takes the modest step of requiring the court to hear the victim before approving any non-jury trial, a step that is
consistent with the CVRA's command that victims be treated with fairness.
Importantly, this change would not interfere with defendants' rights. The Supreme Court has squarely held that the defendant
lacks any constitutional right to unilaterally elect a bench trial. 220 Of course, in some circumstances, despite a victim's
objection, a non-jury trial nonetheless will be appropriate. Moreover, in extreme cases, the defendant may have a right to a nonjury
trial where pretrial publicity has pervasively tainted the jury pool. 221 Nothing in the proposed rule change would interfere
with a court's right to approve a bench trial in such circumstances, so long as the court considers the victim's perspective as part
of the approval process.
Rule 32(a) - Deleting Old Definition of ""Victim""
The Proposal:
The definition of ""victim"" currently contained in Rule 32 should be stricken as follows:
Rule 32. Sentencing and Judgment
(a) Definitions. The following definitions apply under this rule:
(1) ""Crime of violence or sexual abuse"" means:
(A) a crime that involves the use, attempted use, or threatened use of physical force against another's person or property; or
(B) a crime under 18 U.S.C. 2241-2248 or 2251-2257.
[*887]
(2) ""Victim"" means an individual against whom the defendant committed an offense for which the court will impose sentence.
The Rationale:
The old definition of victim in Rule 32 is now too narrow, as it is limited to crimes of violence or sexual abuse. The CVRA, in
contrast, includes all victims within its protections. In the proposed new rules, ""victim"" would be defined in Rule 1. 222
Accordingly, the narrower definition found here can simply be eliminated. The Advisory Committee on Criminal Rules is well
218
Patton, 281 U.S. at 312-13.
219
United States v. Saadya, 750 F.2d 1419, 1421 (9th Cir. 1985) (internal quotation omitted).
220
Singer v. United States, 380 U.S. 24, 36 (1965) (finding that waiver of jury trial may be conditioned on consent of prosecutor); cf.
Kurland, supra note 217, at 340-46 (urging that the rules be amended to create such a right, but not considering in any way the victim's
interests involved).
221
See Singer, 380 U.S. at 37-38 (leaving this question open).
222
See supra notes 120-27 and accompanying text.
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aware of this issue, having withdrawn a previous proposal to expand Rule 32 to include all victims in the wake of the CVRA.
223
Rule 32(c)(1)(B) - Presentence Report Considering Restitution in All Cases
The Proposal:
Rule 32(c)(1)(B) should be amended to require that the presentence report contain restitution information in all cases as
follows:
(c) Presentence Investigation.
(1) Required Investigation.
(A) In General. The probation officer must conduct a presentence investigation and submit a report to the court before it
imposes sentence unless:
(i) 18 U.S.C. 3593(c) or another statute requires otherwise; or
(ii) the court finds that the information in the record enables it to meaningfully exercise its sentencing authority under 18 U.S.C.
3553, and the court explains its finding on the record.
[*888]
(B) Restitution. If the law requires permits restitution, the probation officer must conduct an investigation and submit a report
that contains sufficient information for the court to order restitution.
The Rationale:
As currently written, the rule directs that a presentence report contain information about restitution only when the law
""requires"" restitution. The proposed amendment directs that all presentence reports contain appropriate restitution information
whenever the law ""permits"" restitution. If the law permits restitution, the court ought to receive information sufficient to allow
it to determine whether to order such restitution. Only with such knowledge can the court appropriately exercise its discretion.
In most cases, restitution is covered by one of two federal statutes: the Mandatory Victims Restitution Act of 1996 (MVRA),
224 and its predecessor, the Victim and Witness Protection Act of 1982 (VWPA). 225 For all crimes of violence and certain
crimes against property, the MVRA firmly directs that ""notwithstanding any other provision of law, when sentencing a
defendant convicted of [certain offenses such as crimes of violence] … the court shall order … that the defendant make
restitution to the victim of the offense or, if the victim is deceased, to the victim's estate."" 226 For other crimes, the earlier
VWPA controls. It permits the court to order restitution in its discretion after considering various relevant factors. 227
223
See Letter from Ed Carnes, Chair of the Advisory Comm. on Federal Rules of Criminal Procedure, to Hon. David F. Levi, Chair of the
Standing Committee on Rules of Practice and Procedure (May 18, 2004) (on file with the author) (noting that proposed expansion of Rule 32
should be withdrawn if the CVRA was passed).
224
18 U.S.C. 3663A, 3664 (2000).
225
Id. 3663, 3664. See generally United States v. Bedonie, 317 F. Supp. 2d 1285 (D. Utah 2004) (discussing different statutes), rev'd on other
grounds, United States v. Serawop, 410 F.3d 656 (10th Cir. 2005).
226
18 U.S.C. 3663A(a)(1) (emphasis added); see United States v. Monts, 311 F.3d 993, 1001 (10th Cir. 2002) (holding that restitution under
the MVRA is mandatory).
227
18 U.S.C. 3663A(a)(3); see United States v. Fountain, 768 F.2d 790, 801 (7th Cir. 1985) (holding that restitution under the VWPA is
discretionary).
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In its current form, Rule 32(c)(1)(B) suggests that the probation officer is required to include restitution information only in a
case covered by the MVRA because only then is restitution (in the language of the current rule) ""required."" 228 No sound
reason exists [*889] for such a limitation, particularly after the enactment of the CVRA. The CVRA guarantees that victims
have ""the right to full and timely restitution as provided in law."" 229 Even when the court is proceeding under the discretionary
VWPA, without appropriate information in the presentence report, the court cannot determine whether to exercise its discretion
to award restitution. Therefore, the rule should be changed to require that the presentence report contain restitution information,
from which the court can determine whether to make a restitution award.
(New) Rule 32(c)(3) - Probation Officer To Seek Out Victim Information
The Proposal:
The probation officer preparing a presentence report should be directed to determine whether a victim wishes to provide
information for the report as follows:
(3) Victim Information. The probation officer must determine whether any victim wishes to provide information for the
presentence report.
The Rationale:
Under the CVRA, the victim has ""the right to be reasonably heard at any public proceeding in the district court involving …
sentencing … ."" 230 This right clearly encompasses the victim's right to allocate, or make an oral statement at sentencing, as
discussed below in connection with Rule 32(i). 231 However, the right to be ""reasonably heard"" also appears to include the
opportunity to provide information to the probation office during preparation of the presentence report.
As Senator Kyl explained, the victim's right to be heard at sentencing should be broadly construed:
[*890]
[The CVRA] provides victims the right to reasonably be heard at any public proceeding involving … sentencing. This provision
is intended to allow crime victims to directly address the court in person. It is not necessary for the victim to obtain the
permission of either party to do so … . When a victim invokes this right during … sentencing proceedings, it is intended that …
he or she be allowed to provide all three types of victim impact: the character of the victim, the impact of the crime on the
victim, the victims' family and the community, and sentencing recommendations … .
It is not the intent of the term ""reasonably"" in the phrase ""to be reasonably heard"" to provide any excuse for denying a victim
the right to appear in person and directly address the court. Indeed, the very purpose of this section is to allow the victim to
appear personally and directly address the court. This section would fail in its intent if courts determined that written, rather
than oral communication, could generally satisfy this right. On the other hand, the term ""reasonably"" is meant to allow for
alternative methods of communicating a victim's views to the court when the victim is unable to attend the proceedings. Such
circumstances might arise, for example, if the victim is incarcerated on unrelated matters at the time of the proceedings or if a
victim cannot afford to travel to a courthouse. In such cases, communication by the victim to the court is permitted by other
reasonable means. 232
In light of this legislative history, victims undoubtedly have a right to make an in-court statement at sentencing as part of their
right ""to be heard."" But they also have the right to communicate in other ways with the court. At sentencing, an obvious
228
Fed. R. Crim. P. 32(c)(1)(B).
229
18 U.S.C.A. 3771(a)(6) (West 2004 & Supp. 2005).
230
18 U.S.C.A. 3771(a)(4).
231
See infra notes 273-75 and accompanying text.
232
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl) (emphases added); see also id. (statement of Sen. Feinstein).
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alternative way is via the probation officer. If there is any doubt about whether the right ""to be heard"" covers communications
to the probation officer, the right ""to be treated with fairness"" comfortably covers such a requirement.
The proposed rule requires that the probation office affirmatively seek out the victim. It is unlikely that a probation officer
could properly prepare a thorough presentence report without obtaining the victim's views. Indeed, the rules already require the
officer to include victim information in the report. 233 Because there is no way [*891] to know in advance whether the victim
will have relevant information for the report, the probation officer should be required to investigate that possibility. Of course,
nothing in the proposed rule change would require the probation officer to include irrelevant or argumentative information in
the report.
Rule 32(d)(2)(B) - Presentence Report To Contain Victim Information
The Proposal:
Rule 32(d)(2)(B) should be amended to refer directly to victims in describing the content of the presentence report and to
conform to the style used for information about defendants as follows:
(2) Additional Information. The presentence report must also contain the following information:
(A) the defendant's history and characteristics, including:
(i) any prior criminal record;
(ii) the defendant's financial condition; and
(iii) any circumstances affecting the defendant's behavior that may be helpful in imposing sentence or in correctional treatment;
(B) verified information, stated in a nonargumentative style, that assesses the financial, social, psychological, and medical
impact on any individual against whom the offense has been committed any victim of the crime …
The Rationale:
As discussed at the outset of this article, 234 Rule 32(d)(2)(B) typifies the victim's absence from the current federal rules by
failing to use the word ""victim"" in describing what information belongs in a presentence report. In addition, the rule should be
amended to conform to the style used in describing the presentence report's information about the defendant. The rule dealing
with the [*892] defendant's background 235 contains no requirement that information be ""verified"" or stated in a ""nonargumentative
style."" As a matter of even-handedness, no such requirement should be listed for victim information. Of course,
well-trained federal probation officers will no doubt attempt to verify all information in the presentence report and phrase all of
the report in a non-argumentative style. The peculiarity in the current rule is that, among the numerous subjects covered by the
rules, the verification and non-argumentative style requirements apply to victim information alone.
Rule 32(e) - Prosecutor To Disclose Presentence Report to Victim
The Proposal:
The prosecutor should be required to disclose relevant parts of the presentence report to victims as follows:
(e) Disclosing the Report and Recommendation.
233
See supra notes 10-13 and accompanying text (discussing Rule 32(d)(2)(B)).
234
See supra notes 10-13 and accompanying text.
235
Fed. R. Crim. P. 32(d)(2)(A).
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(1) Time to Disclose. Unless the defendant has consented in writing, the probation officer must not submit a presentence report
to the court or disclose its contents to anyone until the defendant has pleaded guilty or nolo contendere, or has been found
guilty.
(2) Minimum Required Notice. The probation officer must give the presentence report to the defendant, the defendant's
attorney, and an attorney for the government at least 35 days before sentencing unless the defendant waives this minimum
period. The attorney for the government shall, if any victim requests, communicate the relevant contents of the presentence
report to the victim.
The Rationale:
The presentence report plays a critical role in the federal sentencing process. The report contains information about the crime,
the background of the defendant, the impact of the crime on the victim, and other matters relevant to sentencing. Most
important, the report also contains a calculation under the Federal [*893] Sentencing Guidelines specifying a range for any
recommended prison sentence (e.g., forty-six to fifty-seven months). While judges need not slavishly impose a sentence within
this range, 236 most trial judges give significant weight to the Guidelines calculation, 237 and appellate courts have
discouraged straying too far from the Guidelines without good reason. 238
The CVRA entitles victims to be heard on disputed Guidelines issues and, as a corollary, entitles them to the right to review
parts of the presentence report relevant to those issues. The CVRA gives victims ""the right to be reasonably heard at any public
proceeding in the district court involving … sentencing … ."" 239 This codifies the right of crime victims to provide what is
known as a ""victim impact statement"" to the court. 240 The victim's right to be heard, however, is not narrowly circumscribed
to just impact information. To the contrary, the right conferred is a broad one - to be ""reasonably heard"" at the sentencing
proceeding.
The victim's right to be ""reasonably heard"" is best understood as giving the victim the opportunity to speak about disputed
issues regarding the Sentencing Guidelines calculation. As Senator Kyl explained, the right to be heard includes the right to
make sentencing recommendations:
When a victim invokes this right [to be heard] during … sentencing proceedings, it is intended that the [sic] he or she be
allowed to provide all three types of victim impact [information]: the character of the victim, [*894] the impact of the crime
on the victim, the victim's family and the community, and sentencing recommendations. 241
A ""sentencing recommendation"" will often directly implicate Guidelines issues. For example, if the victim wishes to
recommend a hundred-month sentence when the maximum guideline range is only fifty-seven months, that sentencing
recommendation is essentially meaningless unless a victim can provide a basis for recalculating the Guidelines or departing or
varying from them. 242
236
See United States v. Booker, 125 S. Ct. 738 (2005).
237
See, e.g., United States v. Wilson, 350 F. Supp. 2d 910, 912 (D. Utah 2005) (giving ""heavy weight"" to Guidelines recommendation).
238
See, e.g., United States v. Dalton, 404 F.3d 1029 (8th Cir. 2005); United States v. Rogers, 400 F.3d 640 (8th Cir. 2005).
239
18 U.S.C.A. 3771(a)(4) (West 2004 & Supp. 2005).
240
See generally Beloof, Cassell & Twist, supra note 15, at 625-67 (discussing victim impact statements); Paul G. Cassell, Balancing the
Scales of Justice: The Case for and the Effects of Utah's Victims' Rights Amendment, 1994 Utah L. Rev. 1373, 1395-96; cf. Dan Narled,
State, Be Not Proud: A Retroactive Defense of the Commutation of Death Row and the Abolition of the Death Penalty, 40 Harv. C.R.-C.L. L.
Rev. 407 (2005).
241
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl) (emphasis added). See generally Beloof, Cassell & Twist, supra
note 15, at ch. 10 (discussing three types of victim impact information).
242
See United States v. Wilson, 355 F. Supp. 2d 1269, 1272-73 (D. Utah 2005) (discussing departures and variances from the Guidelines).
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Because a victim has the right to be heard on a Guidelines issue, a victim also has the right to see the document which contains
the Guidelines calculations - the presentence report. 243 Congress intended the victim's right to be heard to be construed
broadly, as Senator Feinstein stated: ""The victim of crime, or their counsel, should be able to provide any information, as well
as their opinion, directly to the court concerning the … sentencing of the accused."" 244 It is hard to see how victims can
meaningfully provide ""any information"" that would have a bearing on the sentence without being informed of the Guidelines
calculations that likely will drive the sentence and reviewing the document that underlies those calculations.
An independent basis for victims reviewing presentence reports is within the victim's broad right under the CVRA to be
""treated with fairness."" 245 This right easily encompasses a right of access to relevant parts of the presentence report. The
victim's right to fairness gives victims a free-standing right to due process. As Senator Kyl instructed, ""Of course, fairness
includes the notion of due process … . [*895] This provision is intended to direct government agencies and employees,
whether they are in the executive or judicial branches, to treat victims of crime with the respect they deserve and to afford them
due process."" 246 Due process principles dictate that victims have the right to be apprised of Guidelines calculations and
related issues. The Supreme Court has explained that ""it is … fundamental that the right to … an opportunity to be heard ""must
be granted at a meaningful time and in a meaningful manner.'"" 247 It is not ""meaningful"" for victims to make sentencing
recommendations without the benefit of knowing what everyone else in that courtroom knows: the recommended Guidelines
range and how that range was derived. Congress plainly intended to pass a law establishing ""fair play for crime victims,
meaningful participation of crime victims in the justice system, [and] protection against a government that would take from a
crime victim the dignity of due process."" 248 In federal sentencing today, meaningful participation means participation
regarding Guidelines issues.
It is interesting that the federal law allowing appointment of a guardian ad litem for juvenile victims appears to allow for access
to the presentence report. The law guarantees that, upon appointment, a guardian ad litem ""may have access to all reports,
evaluations and records, except attorney's work product, necessary to effectively advocate for the child."" 249 In a recent federal
""shaken baby"" case in Arizona, a guardian for the child victim received access to the presentence report under this provision.
250 The guardian in that case found it exceedingly difficult to formulate an appropriate sentencing recommendation without
access to the presentence report. After successfully gaining access to the report, she found a need to change her original
recommendation. She later reported that ""but for the [*896] disclosure, I would have ended up making a mis-informed
recommendation."" 251
A victim's right to review the presentence report is also important to ensure proper restitution. Federal law guarantees most
victims of serious crimes the right to restitution. 252 Reinforcing those laws, the CVRA guarantees that victims have ""the right
243
Magistrate Judge Orenstein of the Eastern District of New York, who has written many thoughtful opinions on the CVRA, has taken a
contrary position. See Report and Recommendation, United States v. Ingrassis, No. CR 04-0455 at 31 (E.D.N.Y. Sept. 7, 2005) (""In the
absence of any change to applicable rules or the Guidelines, the court is under no legal obligation to ensure such disclosure"" of the
presentence report.). For the reasons explained here, I think he takes too narrow a view of the victim's rights at sentencing.
244
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein) (emphasis added).
245
18 U.S.C.A. 3771(a)(8) (West 2004 & Supp. 2005).
246
150 Cong. Rec. S10,911 (daily ed. Oct. 9, 2004) (statement of Sen. Kyl) (emphases added).
247
Fuentes v. Shevin, 407 U.S. 67, 80 (1972) (quoting Armstrong v. Manzo, 380 U.S. 545, 552 (1965)).
248
150 Cong. Rec. S4264 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl) (emphasis added).
249
See 18 U.S.C. 3509(h)(2) (2000).
250
See United States v. James, No. CR-04-0651-PCT-JAT (D. Ariz. 2005).
251
E-mail from Keli Luther, Arizona Voice for Victims, to Paul G. Cassell (June 20, 2005) (on file with author).
252
See 18 U.S.C. 3663A (Mandatory Victims Restitution Act); see also id. 3663 (Victim Witness Protection Act).
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to full and timely restitution as provided in law."" 253 As a practical matter, many of the calculations supporting a restitution
award will rest on information in the presentence report. While the restitution statutes have their own detailed procedural
provisions, 254 the presentence report is clearly a central part of the restitution process. If a presentence report fails to
accurately recount restitution figures, crime victims may be short-changed. For all these reasons, the CVRA should be
understood as giving victims the right to review relevant parts of the presentence report and to be heard before a court makes
any final conclusions about Guidelines calculations and other sentencing issues. Many states follow a similar approach and
give victims access to the presentence report. 255
In February 2005, I testified before the Sentencing Commission to recommend a change in the U.S. Sentencing Commission
Guidelines Manual along the lines of the proposals contained in this [*897] Article. 256 In particular, I suggested that the
Commission change its current rule, which allows only the parties to see the presentence report. 257 The Practitioners'
Advisory Group to the Sentencing Commission later disputed my proposal. In a letter to the Commission, 258 they argued that
""nothing in the CVRA or its legislative history states that crime victims should be permitted to review portions of the
presentence report, dispute guidelines calculations, raise grounds for departure, or, as such rights would seem to imply, appeal a
sentence on factual or legal grounds."" 259 The Practitioners' Group also cited the drafting history of the proposed constitutional
amendment protecting victims' rights, which they thought was limited to giving a victim merely the right to ""allocute"" at
sentencing - that is, merely to provide victim impact information. 260
The Practitioners' Group's arguments are flawed for several reasons. First, the Group too narrowly views the relevant legislative
history of the CVRA. As explained above, Congress intended for victims to have broad rights in the sentencing process,
including rights to be reasonably heard in a meaningful manner. 261 It is not reasonable to deprive victims of the critical
information in the presentence report. Second, the Practioners' Group inaccurately describes the relevant history of the Victims'
Rights Amendment. It is true that the proposed constitutional amendment contained a right to be ""reasonably heard,"" just as the
CVRA does. However, the Practitioner's Group fails to recognize that the legislative history of the amendment suggests that
253
18 U.S.C.A. 3771(a)(6) (West 2004 & Supp. 2005).
254
18 U.S.C. 3664.
255
Ala. Code 15-23-73 (1975) (""victim shall have the right to review a copy of the pre-sentence investigative report, subject to the applicable
federal or state confidentiality laws""); Alaska Stat. 12.55.023 (2004) (giving victim right to look at portions of sentencing report); Ariz.
Const. art. 2, 2.1 (giving victim right to review presentence report when available to the defendant); Ariz. Rev. Stat. Ann. 13-4425 (2004)
(giving victim right to review presentence report ""except those parts excised by the court or made confidential by law""); Fla. Stat. Ann.
960.001 (2000) (giving victim right to review presentence report); Idaho Code 19-5306 (2004) (giving victim right to review presentence
report); Ind. Stat. Ann. 35-40-5-6(b) (2004) (giving victim right to read and ""respond to"" material contained in the presentence report); La.
Const. art. 1, 25 (giving victim ""right to review and comment upon the presentence report""); Mont. Code Ann. 46-18-113 (2005) (giving
prosecutor discretion to disclose contents of presentence report to victim); Or. Rev. Stat. Ann. 137.077 (2003) (presentence report may be
made available to victim); see also Colo. Rev. Stat. 24-72-304(5) (2005) (giving prosecutor discretion to allow victim or victim's family to see
presentence report).
256
See The Effect of United States v. Booker on the Federal Sentencing Guidelines: Hearing Before the U.S. Sentencing Comm'n (Feb. 15,
2005) (statement of Paul G. Cassell, United States Judge for the District of Utah), available at http://www.ussc.gov/hearings/ 02 15 05/cassell
testimony.pdf.
257
U.S. Sentencing Comm'n, 1 Federal Sentencing Guidelines 6A1.2 (West 2004).
258
Letter from Amy Baron-Evans & Mark Flanagan to Hon. Ricardo H. Hinojosa (Feb. 28, 2005), available at
http://sentencing.typepad.com/sentencing law and policy/ files/pag letter.doc.
259
Id. at 2.
260
Id.
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Congress was taking an expansive view of the victim's right to be heard at sentencing, including a view that [*898] would
embrace a victim's right to make a specific sentencing recommendation. 262
Most important, the Practitioners' Group's letter fails to consider the impact of denying the victim access to the presentence
report on the victim's right to fairness. Presumably the Group, comprised primarily of defense attorneys, would be outraged if
defendants were sentenced without receiving notice about relevant parts of the presentence report, because of the defendant's
due process rights. But victims now also have due process rights during sentencing, which make it clear that they should
receive the same information.
The Practitioners' Group raises one concern that can be readily dispelled. The Group wonders whether a victim's right to be
heard on Guidelines issues implies a general right to appeal a sentence. It would not. The CVRA contains its own specific
remedial provision, which permits victims to appeal only denials of their rights. 263 It specifically allows a victim to file a
motion ""to re-open … a sentence"" only for violations of the victim's ""right to be heard."" 264 Moreover, while victims possess
due process protections, due process does not guarantee a right to an appeal. 265 Finally, the Sentencing Reform Act spells out
the limited rights of appeal on Guidelines issues available to only the government and the defense. 266 For all these reasons,
victims have the right to review relevant parts of the [*899] presentence report and to be heard on Guidelines issues in the trial
court, but if the court properly hears them on the Guidelines issues, victims would not have the right to appeal the sentence the
court ultimately imposes.
Because victims have a right of access to the presentence report, the question arises of how to provide that access. Nothing in
current law precludes releasing presentence reports to victims. While 18 U.S.C. 3552 requires disclosure to government and
defense counsel, it does not forbid further dissemination. Several federal courts have held that circulation of reports to third
parties is proper on a showing of particularized need approved by the court. 267 Some courts' local rules also allow additional
distribution with court approval. 268 Victims always have a particularized need for access to the Guidelines calculations and
261
See supra notes 239-44 and accompanying text.
262
The Group cites a 2000 Senate Judiciary Committee Report regarding the Victims' Rights Amendment, which referenced a Tenth Circuit
decision restricting the right of victims to present a sentencing recommendation. See Letter from Amy Baron-Evans, supra note 258 (citing S.
Rep. No. 106-254, at 12 (2000) (discussing Robinson v. Maynard, 943 F.2d 1216 (10th Cir. 1991))). By 2003, however, the same passage in
the Senate Judiciary Committee Report was changed to remove the citation to that case and instead to cite a leading proponent of expansive
rights for victims to give judges specific sentencing recommendations:
Victim impact statements concerning the character of the victim and the impact of the crime remain constitutional. See Douglas E. Beloof,
Constitutional Implications of Crime Victims as Participants, 88 Cornell L. Rev. 282 (2003). The Committee does not intend to alter or
comment on laws existing in some States allowing for victim opinion as to the proper sentence.
S. Rep. No. 108-191, at 38 (2003). It is hard to see anything in this history suggesting that Congress wanted victims to be deprived of the
chance to review presentence reports.
263
18 U.S.C.A. 3771(d)(5) (West 2004 & Supp. 2005). See generally In re W.R. Huff Asset Mgmt. Co., 409 F.3d 555, 561-64 (2d Cir. 2005)
(discussing appeals under CVRA).
264
18 U.S.C.A. 3771(d)(5).
265
See McKane v. Durston, 153 U.S. 684 (1894).
266
18 U.S.C. 3742 (2000).
267
See, e.g., United States v. Corbitt, 879 F.2d 224, 238 (7th Cir. 1989) (compelling, particularized need standard); United States v. Schlette,
842 F.2d 1574, 1579 (9th Cir. 1988) (interests of justice standard); United States v. Charmer Indus., Inc., 711 F.2d 1164, 1174 (2d Cir. 1983)
(compelling need standard).
268
See, e.g., D. Utah Crim. Local R. 32-1(c) (presentence reports not released without order of the court).
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related parts of the presentence report; without such access they are unable to effectively make their sentencing
recommendation.
In view of that legal landscape, there are three ways in which the Federal Rules of Criminal Procedure might deal with
disclosure of the presentence reports to victims:
(1) Complete Disclosure. The rules could direct full disclosure of the presentence report to the victim. While no statute bars this
approach, legitimate policy objections might be raised. Some reports may contain sensitive private information about the
defendant such as results of psychiatric examinations, prior history of drug use, or childhood sexual abuse. Some reports may
also reveal confidential law enforcement information that should not be widely circulated. Victims may not always need access
to these parts of the report. While a number of states give victims unfettered right to access the presentence report, 269 a more
limited approach seems appropriate in the federal system.
[*900] (2) Selective Disclosure. The rules could direct that the probation office redact any presentence report to remove
confidential information and then provide the redacted report to the victim. This approach, too, is problematic; it would require
considerable work by busy probation officers to prepare an additional document - a redacted report - presumably only after
consulting with the attorneys on both sides of the case about what might be viewed as confidential.
(3) Disclosure through Prosecutors. The simplest solution to the competing concerns is to disclose the report to victims through
an intermediary: the prosecutor. The prosecutor would serve as the filter for confidential information and assist the victim by
highlighting critical parts of the report. Opponents might object that this approach would burden prosecutors, who are no less
busy than probation officers. But the CVRA already gives victims the right to ""confer"" with prosecutors, 270 and presumably
they will confer regarding the important topic of sentencing. Moreover, many U.S. Attorney's Offices already have Victim-
Witness Coordinators who communicate with victims regarding impact statements. The CVRA also authorizes increased
funding of $ 22 million for the Victim-Witness Assistance Programs in U.S. Attorney's Offices, presumably enabling those
offices to expand their victim services. 271
It might be burdensome to require that prosecutors disclose presentence reports to victims in all cases, even when they are not
interested in such disclosure. Accordingly, disclosure of the report should be required only upon request of a victim.
For all those reasons, the Commission should amend the rules to give requesting victims access to presentence reports through
the prosecutor. In addition, some of the aspects of preparing and disclosing presentence reports are covered in Chapter 6.A of
the United States Sentencing Guidelines Manual. 272 The Manual falls within the jurisdiction of the U.S. Sentencing
Commission. Accordingly, the Advisory Committee on Criminal Rules should [*901] coordinate with the Commission to
ensure that any changes in the Criminal Rules are consistent with the provisions of the Manual.
Rule 32(f), (h), (i) - Victim Opportunity To Object to Presentence Report
The Proposal:
Rule 32(f), (h), and (i) should be amended to allow the victim to object to the presentence report as follows:
(f) Objecting to the Report.
(1) Time To Object. Within 14 days after receiving the presentence report, the parties must state in writing any objections,
including objections to material information, sentencing guideline ranges, and policy statements contained in or omitted from
the report. The attorney for the government or for the victim shall raise for the victim any reasonable objection by the victim to
the presentence report.
269
See supra note 255.
270
18 U.S.C.A. 3771(a)(5) (West 2004 & Supp. 2005).
271
See 118 Stat. 2260, 2264 (2004).
272
See supra note 257 and accompanying text.
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(2) Serving Objections. An objecting party must provide a copy of its objections to the opposing party and to the probation
officer.
(3) Action on Objections. After receiving objections, the probation officer may meet with the parties and the victim to discuss
the objections. The probation officer may then investigate further and revise the presentence report as appropriate.
… .
(h) Notice of Possible Departure from Sentencing Guidelines. Before the court may depart from the applicable sentencing
range on a ground not identified for departure either in the presentence report or in a party's prehearing submission or in a
victim impact statement, the court must give the parties reasonable notice that it is contemplating such a departure. The notice
must specify any ground on which the court is contemplating a departure. The attorney for the government or for the victim
shall advise defense counsel and the court of any ground identified by the victim that might reasonably serve as a basis for
departure.
(i) Sentencing.
[*902]
(1) In General. At sentencing, the court:
(A) must verify that the defendant and the defendant's attorney have read and discussed the presentence report and any
addendum to the report;
(B) must give to the defendant and an attorney for the government a written summary of - or summarize in camera - any
information excluded from the presentence report under Rule 32(d)(3) on which the court will rely in sentencing, and give them
a reasonable opportunity to comment on that information;
(C) must allow the parties' attorneys and any victims to comment on the probation officer's determinations and other matters
relating to an appropriate sentence; and
(D) may, for good cause, allow a party or any victim to make a new objection at any time before sentence is imposed.
(2) Introducing Evidence; Producing a Statement. The court may permit the parties or the victim to introduce evidence on the
objections. If a witness testifies at sentencing, Rule 26.2(a)-(d) and (f) applies. If a party fails to comply with a Rule 26.2 order
to produce a witness's statement, the court must not consider that witness's testimony.
(3) Court Determinations. At sentencing, the court:
(A) may accept any undisputed portion of the presentence report as a finding of fact;
(B) must - for any disputed portion of the presentence report or other controverted matter - rule on the dispute or determine that
a ruling is unnecessary either because the matter will not affect sentencing, or because the court will not consider the matter in
sentencing; and
(C) must append a copy of the court's determinations under this rule to any copy of the presentence report made available to the
Bureau of Prisons.
The Rationale:
For the reasons explained in the preceding section, the victim's right to be ""reasonably heard"" at a sentencing hearing
encompasses the right to be heard on Sentencing Guidelines issues. Congress [*903] intended that the victim become a
participant in the process with rights ""independent of the Government or the defendant."" 273 Those independent rights include
273
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl).
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the opportunity to make ""sentencing recommendations."" 274 Given that matters in the presentence report may often determine
what effect a sentencing recommendation will have, the victim's right presumably extends to participating in the process that
determines the Guideline range.
The changes in Rule 32 noted above simply incorporate the victim in the Guidelines process. Changing the rule in this fashion
would also clarify the appropriate sequencing of sentencing hearings. Rule 32(i) already allows the victim to submit ""any
information"" about the sentencing. 275 Yet if the experience in my court is any guide, the victim's allocution frequently occurs
only after the court has decided all the issues surrounding the presentence report. For the victim's right to provide information
to the court to truly have meaning, the victim's information must be presented early enough to potentially affect critical
sentencing issues, including issues about Guidelines calculations.
As with the changes discussed in the previous section, changes in the Sentencing Guidelines Manual are also required here. The
Advisory Committee also should coordinate with the Sentencing Commission to ensure that its actions are consistent.
Rule 32(i)(4) - Conforming Amendment to Victims' Right To Be Heard
The Proposal:
Rule 32(i)(4) should be amended to conform the definition of victim to that found in the CVRA as follows:
(B) By a Victim. Before imposing sentence, the court must address any victim of a the crime of violence or sexual abuse who is
present at sentencing and must permit the victim to speak or submit any information about the sentence. Whether or not the
victim is [*904] present, a victim's right to address the court may be exercised by the following persons if present:
(i) a parent or legal guardian, if the victim is younger than 18 years or is incompetent; or
(ii) one or more family members or relatives the court designates, if the victim is deceased or incapacitated.
The Rationale:
As noted earlier, 276 Rule 32 currently contains a definition of ""victim"" that is narrower than the CVRA's definition. The
simplest fix is simply to strike the definition of victim and victim's representative here and include an appropriate definition in
Rule 1.
(New) Rule 43.1 - Victim's Right To Attend Trials
The Proposal:
A new rule implementing the victim's right to be present at trials and other proceedings should be added as follows:
Rule 43.1 Victim's Presence
(a) Victim's Right To Attend. A victim has the right to attend any 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. Before making any determination to exclude a victim, the court shall make every effort to permit
the fullest attendance possible by the victim and shall consider reasonable alternatives to the exclusion of the victim from the
criminal proceeding. The reasons for any decision to exclude a victim shall be clearly stated on the record.
(b) Proceeding With and Without Notice. The court may proceed with a public proceeding without a victim if proper notice has
been provided to that victim under Rule 10.1. The court may proceed with a public proceeding (other than a trial or sentencing)
274
Id.
275
Fed. R. Crim. P. 32(i)(4)(B).
276
See discussion supra notes 120-27, 220-23 and accompanying text discussing Rules 1 and 32(a).
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[*905] without proper notice to a victim only if doing so is in the interest of justice, the court provides prompt notice to that
victim of the court's action and of the victim's right to seek reconsideration of the action if a victim's right is affected, and the
court ensures that notice will be properly provided to that victim for all subsequent public proceedings.
(c) Numerous Victims. If the court finds that the number of victims makes it impracticable to accord all of the victims the right
to be present, the court shall fashion a reasonable procedure to facilitate victims' attendance.
(d) Right To Be Heard on Victims' Issues. In addition to rights to be heard established elsewhere in these rules, at any public
proceeding at which a victim has the right to attend, the victim has the right to be heard on any matter directly affecting a
victim's right.
The Rationale:
The rules should reflect the CVRA's command that victims have the right to attend public proceedings in all but the most
unusual circumstances. The CVRA guarantees victims the right to attend a 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."" 277 This is a fundamental right for victims. A crime is often a very significant event in the life of
a victim, and the trial, too, may be extremely important. Victims deserve to see in person whether justice is being done and
should be exempted from the rule requiring trial witnesses to sit outside the courtroom. 278 The CVRA adopts this approach by
allowing crime victims, in the vast majority of cases, to attend the hearings and trial of the case involving their victimization.
This is so important because crime victims share an interest with the [*906] government in seeing that justice is done in a
criminal case and this interest supports the idea that victims should not be excluded from public criminal proceedings, whether
these are pretrial, trial, or post-trial proceedings. 279
Most states have also adopted language affirming a victim's right to attend court proceedings, including the trial. 280
One way of addressing the victim's right to attend would be to leave the matter to the Federal Rules of Evidence. Federal Rule
of Evidence 615 - the so-called ""rule on witnesses"" - requires exclusion of witnesses with certain exceptions, including the
fourth exception for ""a person authorized by statute to be present."" 281 This exception was added to cover crime victims, 282
277
18 U.S.C.A. 3771(a)(3) (West 2004 & Supp. 2005).
278
See generally President's Task Force on Victims of Crime, Final Report 80 (1982) (urging that victims be able to attend trial); Douglas E.
Beloof & Paul G. Cassell, The Victim's Right To Attend the Trial: The Reascendant National Consensus, 9 Lewis & Clark L. Rev. 481 (2005)
(developing this argument at length).
279
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl).
280
See, e.g., Ariz. Const. art. II, 2.1(A) (""To preserve and protect victims' rights to justice and due process, a victim of crime has a right: …
to be present at and, upon request, to be informed of all criminal proceedings where the defendant has the right to be present.""); Colo. Const.
art. II, 16a (""Any person who is a victim of a criminal act, or such person's designee, legal guardian, or surviving immediate family members
if such person is deceased, shall have the right to be heard when relevant, informed, and present at all critical stages of the criminal justice
process."" (emphasis added)); Idaho Const. art. I, 22 (""A crime victim, as defined by statute, has the following rights: … (4) to be present at all
criminal justice proceedings … ."") (emphasis added); La. Const. art. I, 25 (""As defined by law, a victim of crime shall have the right to … be
present … during all critical stages of preconviction … proceedings … ."" (emphasis added)); Mich. Const. art. I, 24 (""Crime victims … shall
have the following rights … The right to attend trial and all other court proceedings the accused has the right to attend."" (emphasis added));
Miss. Const. Ann. art. III, 26A (2000) (""Victims of crime … shall have the right … to be present … when authorized by law, during public
hearings."" (emphasis added)); Mo. Const. art. I, 32 (""Crime victims, as defined by law, shall have the following rights … (1) the right to be
present at all criminal justice proceedings at which the defendant has such right … ."" (emphasis added)); Miss. Code Ann. 99-43-21 (2000)
(""The victim has the right to be present throughout all criminal proceedings as defined in Section 99-43-1."" (emphasis added)). See generally
Beloof & Cassell, supra note 278, (collecting all state statutes and rules pertaining to the victim's right to attend).
281
Fed. R. Evid. 615(4).
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who had a right to attend trials subject to certain conditions even before the passage of the CVRA. 283 Without the explicit
listing of this exception, some trial courts simply overlooked the victim's right to attend - most notoriously in the Oklahoma
City bombing trial. 284
[*907] Merely relying on Rule 615 to protect the victim's right to attend proceedings, however, would be inadequate. First, the
defendant's right to attend proceedings is deemed sufficiently important to merit treatment in a specific rule in the Federal
Rules of Criminal Procedure - Rule 43. This proposed victim's rule, Rule 43.1, would even-handedly mirror that treatment for
victims.
Second, Federal Rule of Evidence 615 does not comprehensively address the victim's right to attend proceedings. For starters, it
would seem that the Advisory Committee Notes in the Federal Rules of Evidence now need a revision to reference the CVRA.
Otherwise, judges, prosecutors, and defense counsel might simply be unaware that a victim is now ""authorized by statute"" - the
CVRA - to be present. 285 Even if legal professionals realize the CVRA's ramifications, most crime victims are not lawyers and
lack experience in the criminal justice system. Therefore, their rights need to be laid out in the most direct manner possible by
listing their right to attend any public court proceeding in the criminal rules.
Finally, providing the details of the victim's right to attend is important for practical reasons. The CVRA qualifies the victim's
right to attend by requiring exclusion in those rare cases when the victim's testimony ""would be materially altered if the victim
heard other testimony at that proceeding."" 286 The CVRA, however, contains additional procedural requirements that judges
must follow before excluding a victim in such situations: ""Before making a determination … [to exclude a victim], the court
shall make every effort to permit the fullest attendance possible by the victim and shall consider reasonable alternatives to the
exclusion of the victim from the criminal proceeding."" 287 Presumably, these reasonable alternatives include having the victim
testify first and then watching all the following witnesses testify, 288 something judges are authorized to require. 289 The Act
also requires that ""the reasons for any decision denying relief under this chapter shall be clearly stated on [*908] the record.""
290 These procedural requirements are new and potentially complex. Moreover, issues surrounding victim attendance at
criminal proceedings are likely to occur frequently. Victims can appeal any exclusion order, and appellate courts must take up
those appeals expeditiously. 291 Accordingly, it is important that lawyers, judges, and victims have the new rule and its
procedural requirements at their fingertips, rather than being forced to dig it out through some cross-reference to the United
States Code. For all these reasons, subsection (a) of the proposed rule simply tracks verbatim the substantive and procedural
requirements of the CVRA.
Proposed Rule 43.1(a) also limits the victim's right to attend ""public"" proceedings. It is clear that the CVRA intended to make
no change in the circumstances in which proceedings could be closed to the public. As Senators Kyl and Feinstein explained in
a colloquy regarding the law: ""The Government or the defendant can request, and the court can order, judicial proceedings to
282
See Fed. R. Evid. 615, Adv. Comm. Notes, 1998 Amendments.
283
See 42 U.S.C. 10606 (1990) (replaced by the CVRA).
284
See supra notes 35-58 and accompanying text; Beloof & Cassell, supra note 278, at 514-17.
285
The current Advisory Committee Notes reference the old Victims Rights Act, which contains a narrower formulation of the victim's right
to attend than found in the CVRA. See Beloof & Cassell, supra note 278, at 514-19.
286
18 U.S.C.A. 3771(a)(3) (West 2004 & Supp. 2005).
287
Id. 3771(b).
288
See Beloof & Cassell, supra note 278, at 540-43 (discussing this approach).
289
See Fed. R. Evid. 611(a) (judge controls ""order"" of evidence).
290
18 U.S.C.A. 3771(b).
291
Id. 3771(d)(3).
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be closed under existing laws. This provision [of the CVRA] is not intended to alter those laws or their procedures in any way
… ."" 292
Proposed Rule 43.1(b) turns to the potentially complex subject of whether the court may go forward with a proceeding when
the victim is not present. Of course, if the victim has been properly notified but has elected not to attend the proceeding, no
problem arises. The difficult issue is what to do when the victim is absent because of lack of notice of the proceeding. It could
be argued that the court has no choice but to reschedule such a proceeding, just as it would be required to reschedule a
proceeding when the defendant had not received notice. The CVRA mandates that courts ""shall ensure"" that crime victims are
accorded their rights, 293 and one of the rights is notice for court proceedings. 294 If the victim has not received notice of a
proceeding, then going forward with the proceeding arguably violates the victim's rights under the CVRA. As Senator Kyl
explained:
[*909]
It does not make sense to enact victims' rights that are rendered useless because the victim never knew of the proceeding at
which the right had to be asserted. Simply put, a failure to provide notice of proceedings at which a right can be asserted is
equivalent to a violation of the right itself. 295
Proposed Rule 43.1(b) stakes out a position more limited than an absolute requirement of proper victim notification. Except for
trials and sentencings (which are discussed below), proposed Rule 43.1(b) would allow the court to move forward with a
proceeding without notice to the victim provided that three conditions are met: (1) doing so is in the interests of justice, (2) the
court provides prompt notice to the victim of the court's action and of the victim's right to seek reconsideration of the action if a
victim's right is affected, and (3) the court ensures that notice will be properly provided to the victim for all subsequent public
proceedings.
Each of these three conditions serves an important purpose. To begin with, the court should not go forward unless the interests
of justice are served - the first requirement. The court should also notify the victim of the opportunity to seek reconsideration of
the court's action if a victim's right is affected - the second requirement. For example, if the court holds a bail hearing without
proper notice to the victim and decides to release a defendant, the victim should be advised of this fact and of the right to ask
the court to reconsider that bail decision. (The CVRA, as noted earlier, gives victims the right to provide information regarding
bail decisions. 296 ) Finally, if the court is moving forward without proper notice to a victim at a particular proceeding, it seems
only fair that the problem be solved for future proceedings - the third requirement.
For two important proceedings - trial and sentencing - the proposed rule would bar a court from moving forward without proper
notice to the victim. This is consistent with the CVRA's directive that ""in any court proceeding involving an offense against a
crime victim, the court shall ensure that the crime victim is afforded the rights [in the CVRA]."" 297 If the victim has not been
notified of a [*910] trial or sentencing, the only way the court can ""ensure"" that the victim's right is protected is to delay the
trial or sentencing until the victim receives notice. This is entirely appropriate; a victim of a crime deserves the opportunity to
see the trial of her victimizer and to speak at sentencing. A modest delay in these proceedings is a small price to pay for
respecting the victim's rights. Moreover, neither a trial nor a sentencing can be repeated. Double jeopardy principles may well
292
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (colloquy between Sen. Kyl and Sen. Feinstein) (explaining that ""in this regard, it is not
our intent to alter 28 C.F.R. Sec. 50.9 in any respect"").
293
18 U.S.C.A. 3771(b).
294
Id. 3771(a)(2).
295
150 Cong. Rec. S10,910 (daily ed. Oct. 9, 2004) (statement of Sen. Kyl).
296
See 18 U.S.C.A. 3771(a)(4) (discussed at supra notes 104-10 and accompanying text).
297
Id. 3771(b) (emphasis added).
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forbid retrial even when a victim has received no notice, 298 and the CVRA itself bars a new trial remedy. 299 Sentencings
would appear to be subject to limitations that might prevent a crime victim from obtaining a resentencing 300 - although the
CVRA directly allows for re-sentencings in certain limited circumstances. 301
While neither trial nor sentencing could proceed without proper notice to the victim, this restriction will affect only a small
number of cases for a short period of time. Many federal cases lack a specifically identifiable victim (e.g., drug and
immigration offenses) and thus are not covered by the CVRA. In those cases with a victim, a significant percentage of victims
may waive any right to receive notice. In cases where victims choose to receive notice, presumably the notice will be properly
given the vast majority of the time. Even apart from notice requirements, most victims will be trial witnesses and therefore will
have been notified of the trial by a subpoena. Victims will also often be aware of sentencings through the work of probation
officers in preparing presentence reports. 302 In the tiny fraction of cases where notice has not been properly provided, notice
will often be only a [*911] telephone call away. While the burdens of delaying a trial or sentencing are not trivial, Congress
has determined that the victim's rights must take precedence. Proposed subsection (b) faithfully implements that determination.
Subsection (c) of the proposed rule deals with the victim's right to attend in situations involving multiple victims. Congress has
recognized that in some cases, such as the Oklahoma City bombing case, it is impossible to afford all victims the opportunity to
attend trials. Accordingly, the CVRA provides that where ""the number of crime victims makes it impracticable"" to protect
rights for all victims, the court ""shall fashion a reasonable procedure"" to give effect to victims' interests. 303 Possible
procedures include closed-circuit transmission of the proceedings to a ceremonial courtroom, auditorium, or other facility that
can accommodate many people. To permit such transmission, an amendment to Rule 53 is proposed below. 304
Subsection (d) gives victims a general right to be heard on issues ""directly affecting"" their rights. The CVRA specifically
mandates that victims have the right to be heard with regard to release of the defendant, a plea, or a sentence. 305 The right to
be heard at these hearings has been addressed elsewhere in these proposed rules, 306 but courts will sometimes consider other
issues that directly affect victims' rights. For example, courts may consider whether to release the address and telephone
number of the victim to the defendant. 307 It makes little sense for the court to decide this issue without hearing from the
victim, particularly since the CVRA gives victims the right ""to be reasonably protected from the accused."" 308 Subsection (d)
298
See U.S. Const. amend. V. See generally Beloof, The Third Wave of Crime Victims' Rights, supra note 16, at 303-04 (discussing double
jeopardy barriers to remedying violations of victim's rights).
299
18 U.S.C.A. 3771(d)(5).
300
See Fed. R. Crim. P. 35(c) (correction of sentence allowed only for technical or other clear error). Whether denial of a victim's right
constitutes ""clear error"" subject to correction presumably will need to be resolved in future cases. Cf. United States v. Bedonie, 413 F.3d 1126
(10th Cir. 2005) (remedying error in restitution award not permitted after imposition of sentence).
301
18 U.S.C.A. 3771(d)(5) (authorizing a victim motion to ""re-open a … sentence"" if the victim's right to be heard was denied); see 150
Cong. Rec. S10,910 (daily ed. Oct. 9, 2004) (statement of Sen. Kyl) (discussing this provision). In light of these provisions, the Advisory
Committee may need to consider redrafting Rule 35 to allow reopening of sentences imposed in violation of victims' rights.
302
See supra notes 231-34 and accompanying text (discussing probation officers collecting victim information for presentence reports).
303
18 U.S.C.A. 3771(d)(2).
304
See infra notes 340-42 and accompanying text.
305
18 U.S.C.A. 3771(a)(4) (discussed at supra notes 104, 230 and accompanying text).
306
See supra note 296 and accompanying text (bail hearings); supra note 110 and accompanying text (plea hearings); supra note 275 and
accompanying text (sentencing hearings).
307
See supra notes 175-76 and accompanying text (discussing changes to Rule 12.1).
308
18 U.S.C.A. 3771(a)(1).
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2005 B.Y.U.L. Rev. 835, *911
Page 45 of 52
would cover such situations by allowing victims who are present at a hearing to be heard on issues ""directly"" affecting their
rights.
[*912]
Rule 44.1 - Discretionary Appointment of Counsel for Victim
The Proposal:
The court's discretionary authority to appoint counsel for a victim should be included in a new rule as follows:
Rule 44.1 Counsel for Victims.
When the interests of justice require, the court may appoint counsel for a victim to assist the victim in exercising his or her
rights.
The Rationale:
An argument could be made that the CVRA guarantees crime victims the right to appointed counsel. After all, the CVRA
guarantees victims the right to be ""treated with fairness"" and fairness can be understood as embracing the assistance of counsel.
309 But on closer examination, it becomes clear that nothing in the CVRA directly mandates counsel for victims. As Senator
Kyl explained, ""This bill does not provide victims with a right to counsel but recognizes that a victim may enlist counsel on
their own."" 310
While the CVRA does not require judges to appoint counsel for victims, nothing in it prevents judges from doing so in
appropriate cases, particularly under prevailing case law demonstrating that federal courts have inherent authority to make such
appointments. Because this authority may not be well known to judges (or to victims), the authority should be clearly laid out
in the Federal Rules of Criminal Procedure.
A number of federal courts have recognized inherent judicial authority to appoint lawyers for indigent litigants in both civil and
criminal cases. 311 While these cases do not directly involve [*913] appointment of counsel for crime victims, their principles
309
Cf. Gideon v. Wainwright, 372 U.S. 335, 344 (1963) (discussing ""fairness"" to the defendant as a reason for recognizing a right to
appointed counsel).
310
150 Cong. Rec. S4268 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl).
311
See, e.g., Powell v. Alabama, 287 U.S. 45, 73 (1932) (holding, in a capital case, that courts have the power to appoint counsel and that
""attorneys are officers of the court, and are bound to render service when required by such an appointment""); United States v. Bertoli, 994
F.2d 1002, 1015-18 (3d Cir. 1993) (holding that the court has inherent power to order defendant's retained law firm to remain as standby
counsel at a criminal trial when defendant elects to represent himself pro se); United States v. Accetturo, 842 F.2d 1408, 1412-16 (3d Cir.
1988) (holding that courts have inherent power to appoint counsel during a criminal trial proceeding but that the power does not extend to
appointing lawyers licensed in other states); United States v. Bowe, 698 F.2d 560, 566-67 (2d Cir. 1983) (noting that a court has inherent
authority to appoint counsel for an indigent witness who may incriminate herself during testimony in a criminal case); Williamson v.
Vardeman, 674 F.2d 1211, 1212-16 (8th Cir. 1982) (upholding a state court judge's appointment of pro bono counsel in criminal case as
constitutional although noting that forcing an attorney to advance his own funds may be unconstitutional); Tyler v. Lark, 472 F.2d 1077, 1079
(8th Cir. 1973) (noting that in civil rights cases, ""representation of indigents upon court order has been a traditional obligation of the lawyer
which he assumes when he becomes a member of the bar""); Dolan v. United States, 351 F.2d 671, 672 (5th Cir. 1965) (holding, in a criminal
case, that lawyers implicitly consent to be appointed by courts pro bono when accepting a license to practice law); United States v. Dillon,
346 F.2d 633, 635-36 (9th Cir. 1965) (holding, in a criminal case, that there is ""an obligation on the part of the legal profession to represent
indigents upon court order, without compensation""). But cf. Colbert v. Rickmon, 747 F. Supp. 518, 527 (W.D. Ark. 1990) (holding that courts
have no inherent power to order attorneys to represent indigent clients). See generally Jerry L. Anderson, Court-Appointed Counsel: The
Constitutionality of Uncompensated Conscription, 3 Geo. J. Legal Ethics 503 (1989) (discussing the trend against requiring lawyers to take
uncompensated court appointments); Bruce Andrew Green, Court Appointment of Attorneys in Civil Cases: The Constitutionality of
Uncompensated Legal Assistance, 81 Colum. L. Rev. 366 (1981) (discussing the constitutionality of pro bono court appointments); Judy E.
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *913
Page 46 of 52
clearly apply to victims. Illustrative of these decisions is the thoughtful analysis by the U.S. District Court for the District of
Nebraska in Bothwell v. Republic Tobacco Co. 312 Bothwell presented four grounds for its holding that courts have inherent
power to appoint attorneys to represent indigent litigants:
1) courts possess the inherent power to bring to their assistance those ""instruments"" necessary to ensure a ""fair and just""
adjudicative process in individual cases; 2) in many, if not most, cases, due to the adversarial nature of our system, lawyers are
a necessary component in ensuring such a ""fair and just"" process; 3) to a significant degree, neither the private marketplace nor
public or charitable efforts provide indigent litigants with adequate access to legal assistance; and 4) to that extent, such failure
threatens the reliability of the results of the adversarial process. 313
These grounds readily apply to appointing attorneys for indigent victims when important rights under the CVRA are at stake.
Without [*914] an attorney to press her claims, a victim may be unable to obtain a ""fair and just"" adjudicative process. 314
Moreover, crime victim representation appears to be a prime example of a situation where ""neither the private marketplace nor
public or charitable efforts provide indigent litigants with adequate access to legal assistance."" 315 No financial incentive will
drive lawyers to represent victims in criminal cases. 316 And while pro bono representation for victims is expanding, 317 it still
falls far short of the needs of victims in the federal system. The fourth and final requirement - that the failure of attorneys to
represent the indigent client threatens the reliability of the system - is also present where rights under the CVRA are at stake.
Neither the prosecutor nor the defendant has a personal stake in the victim's rights, and, frequently, they will have other
priorities and interests that may even be adverse to the rights of the victim. 318 Accordingly, courts have inherent authority to
appoint counsel to represent indigent victims and, indeed, may even be able to require [*915] counsel to serve without
compensation. 319 The local rules of some federal courts already explicitly recognize this power. 320
In addition to this inherent authority, federal courts appear to possess statutory authority to make such an appointment. Title 28
broadly permits the court in both civil and criminal cases to ""request an attorney to represent any person unable to afford
counsel."" 321 Moreover, at least one statute already directly authorizes federal courts to appoint counsel for child victims in
Zelin, Court Appointment of Attorney To Represent, Without Compensation, Indigent in Civil Action, 52 A.L.R. 4th 1063 (1987 & Supp.
2004).
312
912 F. Supp. 1221 (D. Neb. 1995).
313
Id. at 1229.
314
See generally John W. Gillis & Douglas Beloof, The Next Step for a Maturing Victim Rights Movement: Enforcing Crime Victim Rights
in the Courts, 33 McGeorge L. Rev. 689, 692 (2002).
315
Bothwell, 912 F. Supp. at 1229.
316
See Gillis & Beloof, supra note 314, at 698-700.
317
See infra note 324 and accompanying text (discussing funding in the CVRA for the National Crime Victims Law Institute and other legal
clinics for victims).
318
See Gillis & Beloof, supra note 314, at 692.
319
See Mallard v. U.S. Dist. Court, 490 U.S. 296, 307 & n.8 (1989) (leaving open the question of whether federal courts possess the inherent
authority to require counsel to provide legal services to the poor). Several lower courts have concluded that appointment without
compensation is proper. See Bothwell, 912 F. Supp. at 1230-34 (counsel have a duty to serve without compensation); Family Division Trial
Lawyers of the Superior Court-D.C. v. Moultrie, 725 F.2d 695, 705 (D.C. Cir. 1984) (rejecting argument that pro bono appointment violates
the Thirteenth Amendment because attorneys can take steps to avoid the pro bono appointments and holding that pro bono court
appointments are not per se ""takings,"" as accepting court ordered representation of indigents is a condition of receiving a law license, but
excessive burden could present takings problem); Williamson v. Vardeman, 674 F.2d 1211, 1211 (8th Cir. 1982) (noting that pro bono
service is a voluntary obligation undertaken by attorneys when they apply for a license to practice law); Tyler v. Lark, 472 F.2d 1077, 1079-
80 (8th Cir. 1973) (no takings problem with appointment); United States v. Dillon, 346 F.2d 633, 635-36 (9th Cir. 1965) (no taking problems
with appointment). But see State ex rel. Scott v. Roper, 688 S.W.2d 757, 759-70 (Mo. 1985) (questioning power of courts to appoint counsel
without providing compensation).
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *915
Page 47 of 52
certain cases. Title 18 U.S.C. 3509 provides, ""The court may appoint a guardian ad litem for a child who was a victim of, or a
witness to, a crime involving abuse or exploitation to protect the best interests of the child."" Congress, however, has not yet
provided funding for this particular right. 322 Finally, in unusual circumstances where a crime victim may also face possible
criminal charges of his or her own, the Criminal Justice Act would authorize appointment of and payment for defense counsel.
323
Proposed Rule 44.1 would confirm the existing discretionary power of the courts to appoint volunteer counsel. The rule is
purely discretionary (the court ""may"" appoint counsel) and is limited to [*916] situations where the interests of justice require
appointment. The rule does not address payment for counsel, as this matter must be left to subsequent appropriations from
Congress. The court, however, can ask for volunteer counsel to assist victims on a pro bono basis.
There is reason to expect that some attorneys will volunteer. Not only are many attorneys willing to undertake pro bono
representation, but the CVRA itself authorizes millions of dollars in funding for victim representation around the country. The
authorization includes support for the National Crime Victims Law Institute at the Northwestern School of Law at Lewis and
Clark College to help establish eleven legal offices around the country representing crime victims. 324
Finally, it might be argued that it is unnecessary to address this subject in a rule because the court's inherent authority to
appoint counsel exists even without a rule. Both courts and victims, however, will find it useful to have this authority spelled
out in the criminal rules to eliminate any lingering doubt. In addition, the CVRA obliges prosecutors to eliminate any lingering
doubt in the event of any material conflict of interest between the prosecutor and the victim by ""advising the crime victim that
the crime victim can seek the advice of an attorney."" 325 This requirement may frequently require prosecutors to help victims
obtain legal counsel. Accordingly, a separate rule on this subject is appropriate.
For all these reasons, the rules should be amended to recognize the court's authority to appoint volunteer counsel to represent a
crime victim.
[*917]
Rule 46 - Victims' Right To Be Heard Regarding Defendant's Release from Custody
The Proposal:
Victims should be explicitly given the right to be heard regarding the defendant's release from custody as follows:
(k) Victims' Right To Be Heard. A victim has the right to be heard regarding any decision to release the defendant. The court
shall consider the views of victims in making any release decision, including such decisions in petty cases. In a case where the
court finds that the number of victims makes it impracticable to accord all of the victims the right to be heard in open court, the
court shall fashion a reasonable procedure to facilitate hearing from representative victims.
The Rationale:
320
See, e.g., D. Utah Civ. R. 83-1.1(b)(3) (1997) (""Any attorney who is admitted to the bar of this court must agree, as a condition of such
admission, to engage in a reasonable level of pro bono work when requested to do so by the court."").
321
28 U.S.C. 1915(e)(1) (2000) (emphasis added).
322
Memorandum from the Administrative Office of the United States Courts to the United States District Court Judges and the United States
Magistrate Judges (March 19, 1991) (available from the Administrative Office).
323
See 18 U.S.C. 3006A(a)(1).
324
See 42 U.S.C. 10603(d) (2000); see also 150 Cong. Rec. S4266 (daily ed. Apr. 22, 2004) (statement of Sen. Kyl) (noting appropriations
for the National Crime Victims Law Institution ""to provide grants and assistance to lawyers to help victims of crime in court"" with funding
sufficient to ""provide for two new regional offices and nine specific clinics""). For more information on NCVLI, see http://www.ncvli.org.
325
18 U.S.C.A. 3771(c)(2) (West 2004 & Supp. 2005).
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2005 B.Y.U.L. Rev. 835, *917
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The CVRA guarantees victims the right ""to be reasonably heard"" at ""any public proceeding … involving release."" 326 A
similar right already exists for victims of stalking offenses. 327 This proposed rule simply recognizes a victim's right ""to be
reasonably heard"" and further directs the court to consider the victim's input. The victim's right to be heard would be
meaningless if the court did not consider the victim's views. Moreover, existing law appears to recognize that the court should
consider the victim's concerns. 328
Rule 48 - Victims' Views on Dismissal To Be Considered
The Proposal:
The court should be required to consider the views of victims in deciding whether to grant a government motion to dismiss
charges as follows:
[*918]
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.
The Rationale:
This proposed change would implement a victim's right to be ""treated with fairness"" and to be heard at any proceeding
""involving release"" of the defendant by requiring the court to consider the views of the victim before granting a government
motion to dismiss a charge. The rule already requires leave of court before a dismissal can be approved. In determining whether
to grant leave, the court should consider whether dismissal is ""clearly contrary to manifest public interest."" 329 Among the
relevant factors in making this public interest determination is whether the prosecution's motion to dismiss is motivated by
""animus towards the victim."" 330 The proposed rule would simply require the court to consider the views of the victim in
making this determination, leaving the weight to afford those views up to the court.
Rule 50 - Victims' Right to Proceedings Free from Unreasonable Delay
The Proposal:
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.
[*919]
(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.
326
18 U.S.C.A. 3771(a)(4).
327
18 U.S.C. 2263.
328
See, e.g., 18 U.S.C. 3142(c) (court to consider whether release of the defendant ""will endanger the safety of any other person"").
329
United States v. Cowan, 524 F.2d 504, 513 (5th Cir. 1975).
330
In re Richards, 213 F.3d 773, 787 (3d Cir. 2000).
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2005 B.Y.U.L. Rev. 835, *919
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(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.
The Rationale:
Under the CVRA, a victim has a right ""to proceedings free from unreasonable delay."" 331 A number of states have similar
provisions. 332
[*920] The proposed rule would give effect to this right. Of course, in some situations, delay is reasonable. In others,
however, the court should deny a motion to continue in order to wrap up the proceedings and possibly bring closure to a victim.
As Senator Feinstein has explained,
This provision does not curtail the government's need for reasonable time to organize and prosecute its case. Nor is the
provision intended to infringe on the defendant's due process right to prepare a defense. Too often, however, delays in criminal
proceedings occur for the mere convenience of the parties and those delays reach beyond the time needed for defendant's due
process or the government's need to prepare. The result of such delays is that victims cannot begin to put the crime behind them
and they continue to be victimized. It is not right to hold crime victims under the stress and pressure of future court proceedings
merely because it is convenient for the parties or the court. 333
The proposed rule gives victims a right against unreasonable delay in subsection (c). To ensure that defendants' rights are
reasonably protected, a new subsection (b) is added recognizing defendants' rights in the Speedy Trial Act. 334 The existing
rule's direction to give scheduling preference to criminal cases would remain in subsection (a).
The proposal also gives victims the right to be heard on any continuance. This is consistent with the drafters' intent, as at least
one court has already opined. 335 As Senator Kyl stated, ""This provision [in the CVRA] should be interpreted so that any
331
18 U.S.C.A. 3771(a)(7). Even before the adoption of the CVRA, child victims had the right to a ""speedy trial"" in certain situations. 18
U.S.C. 3509(j).
332
See, e.g., Ariz. Rev. Stat. 13-4435 (2001) (""In any criminal proceeding in which a continuance is requested, the court shall consider the
victim's views and the victim's right to a speedy trial.""); Cal. Penal Code 1050(a) (2005) (stating policy of the California legislation that
""excessive continuances … cause substantial hardship to victims and other witnesses … . It is therefore recognized that the people, the
defendant, and the victims and other witnesses have the right to an expeditious disposition … .""); Del. Code Ann. tit. 11, 9423 (2001) (""In
ruling on any motion or other request for a delay or continuance … the court shall consider and give weight to any adverse impact such delay
or continuance might have on the well-being of any victim … .""); 730 Ill. Comp. Stat. Ann. 5/5-4-3.1(c) (West 2005) (""Victim shall be
notified of the date and time of hearing [on any motion for continuance] and shall be provided an opportunity to address the court on the
impact the continuance may have on the victim's well-being.""); La. Rev. Stat. Ann. 46:1844 (1999) (""When ruling on a defense motion for
continuance, the court shall consider the impact on the victim.""); Miss. Code Ann. 99-43-19 (2000) (""The court … should make every
reasonable effort to consider whether granting [a] continuance shall be prejudicial to the victim.""); R.I. Gen. Laws 11-37-11.2 (2000) (""The
court shall consider any adverse impact the delay or continuance may have on the well-being of the victim … .""); Tenn. Code 40-38-116(a)
(2003) (""In any criminal proceeding in which a continuance is requested, the court shall consider the victim's views and the victim's right to a
speedy trial. If the continuance is granted over the victim's objection, the court shall state on the record the reason for the continuance and the
procedures that have been taken to avoid further delays.""); Wyo. Stat. Ann. 1-40-207 (2004) (""The court shall consider the victim's interest
and circumstances when … granting or denying continuances."").
Some states limit speedy trial rights to child victims. See, e.g., Ala. Code 15-25-6 (2000) (""In ruling on any motion … for … continuance …
the court shall consider and give weight to any adverse impact the delay or continuance may have on the well-being of a child victim or
witness.""); Del. Code Ann. tit. 11, 5133 (2001) (same); Idaho Code Ann. 19-110 (2004) (same); Ky. Rev. Stat. Ann. 421.510 (LexisNexis
1992) (same); N.Y. Penal Law 642-a (2005) (same); N.D. Cent. Code 12.1-35-05 (2003) (same); Wis. Stat. 971.105 (2005) (same). For
general review of the victim's right to a speedy trial, see generally Beloof, Cassell & Twist, supra note 15, at 383-91; Cassell, Balancing the
Scales of Justice, supra note 15, at 1406.
333
150 Cong. Rec. S4268-69 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *920
Page 50 of 52
decision to schedule, reschedule, or continue criminal cases should include victim input through the victim's assertion of the
right to be free from unreasonable delay."" 336
[*921] The proposed rule also requires that the court state its reason for granting any continuance. This requirement stems
from a recommendation from the President's Task Force on Victims of Crime, which noted ""the inherent human tendency to
postpone matters, often for insufficient reason,"" and accordingly recommended that ""reasons for any granted continuance … be
clearly stated on the record."" 337 Several states have adopted similar provisions. 338
Rule 51 - Claiming Error Regarding Victims' Rights
The Proposal:
The procedures for a victim to assert error should be spelled out in the rules as follows:
Rule 51. Preserving Claimed Error
(a) Exceptions Unnecessary. Exceptions to rulings or orders of the court are unnecessary.
(b) Preserving a Claim of Error. A party or a victim may preserve a claim of error by informing the court - when the court
ruling or order is made or sought - of the action the party wishes the court to take, or the party's objection to the court's action
and the grounds for that objection. If a party or a victim does not have an opportunity to object to a ruling or order, the absence
of an objection does not later prejudice that party. A ruling or order that admits or excludes evidence is governed by Federal
Rule of Evidence 103.
The Rationale:
The CVRA authorizes victim appeals and includes procedures for expedited handling of those appeals. 339 The proposed rule
would [*922] incorporate victims into the existing rule regarding preservation of errors.
Rule 53 - Closed-Circuit Transmission of Proceedings for Victims
The Proposal:
Closed-circuit transmission of court proceedings for victims should be authorized as follows:
Rule 53. Courtroom Photographing and Broadcasting Prohibited
(a) General Rule. Except as otherwise provided by a statute or these rules, the court must not permit the taking of photographs
in the courtroom during judicial proceedings or the broadcasting of judicial proceedings from the courtroom.
334
18 U.S.C. 3161-3174.
335
United States v. Turner, 367 F. Supp. 2d 319, 334 n.14 (E.D.N.Y. 2005) (recognizing victim's ""participatory right"" with respect to delays
in a criminal case).
336
150 Cong. Rec. S10,911 (daily ed. Oct. 9, 2004) (statement of Sen. Kyl) (emphasis added).
337
President's Task Force on Victims of Crime, Final Report 76 (1982).
338
See, e.g., Ariz. Rev. Stat. Ann. 13-4435(B) (2001) (courts required to ""state on the record the reason for [any] continuance""); Utah Code
Ann. 77-38-7(3)(b) (2004) (court required to ""enter in the record the specific reason for the continuance and the procedures that have been
taken to avoid further delays"").
339
See 18 U.S.C.A. 3771(d)(3) (West 2004 & Supp. 2005).
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *922
Page 51 of 52
(b) Closed-Circuit Transmission for Victims. In order to permit victims of crime to watch criminal trial proceedings, the court
may authorize closed-circuit televising of the proceedings for viewing by victims or other persons the court determines have a
compelling interest in doing so.
The Rationale:
The CVRA grants victims the right to attend trials, as noted previously in connection with proposed Rule 43.1. 340 At the same
time, however, the CVRA recognizes that in situations with numerous victims, the court may have to craft ""a reasonable
procedure"" to protect victims' rights. 341 One such reasonable procedure would appear to be closed-circuit transmission of
court proceedings to a facility sufficiently large to accommodate all the victims. This was the procedure followed in the
Oklahoma City bombing case. 342
[*923] The proposed rule would authorize such transmission in appropriate cases. The language for the proposed rule comes
from 42 U.S.C. 10608(a), which authorizes closed-circuit transmissions ""notwithstanding any provision of the Federal Rules of
Criminal Procedure to the contrary"" in cases in which a proceeding has been transferred more than 350 miles - as was the case
with the Oklahoma City bombing trial. In light of the CVRA's mandate that the court must always craft ""a reasonable
procedure"" to protect the rights of multiple victims, there is no compelling reason to tie the device to such geographical
circumstances. The proposed rule authorizes courts to allow such transmissions in any appropriate case.
Rule 58 - Victims and Petty Offenses
The Proposal:
Courts should hear from victims regarding sentences in petty cases as follows:
Rule 58. Petty Offenses and Other Misdemeanors.
…
(3) Sentencing. The court must give the defendant an opportunity to be heard in mitigation and then proceed immediately to
sentencing. The court must also give victims an opportunity to be heard. The court may, however, postpone sentencing to allow
the probation service to investigate or to permit either party to submit additional information.
The Rationale:
The CVRA gives a ""victim"" the right to be heard at sentencing. The CVRA defines ""victim"" as including anyone who is
directly and proximately harmed by ""a Federal offense."" 343 The Act does not limit those offenses to felonies or
misdemeanors. Accordingly, a victim has a right to be heard at sentencing for any petty offense, as would be reflected in the
proposed rule.
[*924]
Conclusion
The CVRA commands that victims be made participants in the federal criminal process and thus requires significant changes to
the Federal Rules of Criminal Procedure. This Article has provided one possible and comprehensive way to implement that
congressional command with specific language and supporting analysis for each change. Undoubtedly there are other ways of
340
See supra notes 277-308 and accompanying text.
341
18 U.S.C.A. 3771(d)(2).
342
See Paul G. Cassell & Robert F. Hoyt, The Tale of Victims' Rights, Legal Times, Dec. 23, 1996, at 32; Jo Thomas, Trial to Be Shown in
Oklahoma for Victims, N.Y. Times, Jan. 30, 1997, at A14.
343
18 U.S.C.A. 3771(e).
DAVID SCHOEN
2005 B.Y.U.L. Rev. 835, *924
Page 52 of 52
implementing the CVRA. However, since the Advisory Committee will be making many decisions about how to best change
the rules, one concluding thought may be worth highlighting.
Congress will be paying close attention to how courts protect the rights of future victims. Indeed, the CVRA directs the
Administrative Office for the U.S. Courts to report each year the number of times that victims have attempted to assert their
rights and been denied the requested relief. 344 More generally, Congress views the new Act as an important step to protecting
crime victims - a ""new and bolder approach, than has ever been tried before in our Federal system."" 345 Congress is eagerly
awaiting the results of this approach. As Senator Leahy warned, ""Passage of this bill will necessitate careful oversight of its
implementation by Congress."" 346 Victims' advocates, too, will be watching carefully. 347
In light of this thorough and ongoing interest, the judiciary should not merely attempt a ""quick fix"" or minimalist approach to
implementing the CVRA, but should comprehensively protect crime victims' rights by changes in court rules. If Congress
believes that the federal rules fail to faithfully reflect crime victims' concerns, it can directly amend the rules. But such direct
amendments may not sufficiently attend to the needs of the judicial branch or others involved in the criminal justice process. It
is in that spirit of eliminating any need for congressional intervention that this Article [*925] offers proposals to fully and
faithfully implement the congressional directive that victims be integrated into the criminal justice process.
In the final analysis, whether the courts or Congress redraft the rules is less important than that the redrafting occur. As
commanded in the CVRA, crime victims are now participants in federal criminal cases. That new reality must be reflected
throughout the Federal Rules of Criminal Procedure.
Brigham Young University Law Review
Copyright (c) 2005 Brigham Young University Law Review
End of Document
344
18 U.S.C.A. 3771, Historical and Statutory Notes (requiring the Administrative Office of the courts to file an annual report with Congress
concerning the number of times a victim's right is asserted and denied by federal courts).
345
150 Cong. Rec. S4263 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).
346
Id. at S4271 (daily ed. Apr. 22, 2004) (statement of Sen. Leahy).
347
United States v. Turner, 367 F. Supp. 2d 319, 337 (E.D.N.Y. 2005) (noting that victims' advocates ""will be watching to see how federal
courts and prosecutors carry out the new law's mandate"").
DAVID SCHOEN
"
IMAGES-011-HOUSE_OVERSIGHT_032174.txt,"4

educated and potentially high-achieving population that is trapped
with no horizon. Pressure needs to be maintained to end the siege
entirely, they say, and talk of improvement is counterproductive.
The recent changes stem from a combination of Israeli policy shifts
and the chaos in Egypt. The new Egyptian border policy has made
little difference, but Egypt’s revolution and its reduced policing in
the Sinai have had a profound effect.

For the past year, Israel has allowed most everything into Gaza but
cement, steel and other construction material — other than for
internationally supervised projects — because they are worried that
such supplies can be used by Hamas for bunkers and bombs. A
number of international projects are proceeding, but there is an urgent
need for housing, street paving, schools, factories and public works
projects, all under Hamas or the private sector, and Israel’s policy
bans access to the goods to move those forward.

So in recent months, tunnels under the southern border that were
used to bring in consumer goods have become almost fully devoted
to smuggling in building materials.

Sacks of cement and piles of gravel, Turkish in origin and bought
legally in Egypt, are smuggled through the hundreds of tunnels in
double shifts, day and night, totaling some 3,000 tons a day. Since
the overthrow of President Hosni Mubarak, the Egyptian security
authorities no longer stop the smugglers. Streets are being paved and
buildings constructed.

“Mubarak was crushing us before,” said Mahmoud Mohammad, a
subcontractor whose 10-man crew in Gaza City was unloading steel
bars that were carried through the tunnels and were destined for a
new restaurant. “Last year we were sitting at home. The contractor I
work for has three major projects going.”

Nearby, Amer Selmi was supervising the building of a three-story, $2
million wedding hall. Most of his materials come from the tunnels.

HOUSE_OVERSIGHT_032174
"
IMAGES-006-HOUSE_OVERSIGHT_020931.txt,"One-Time Charges: What Charges from F2008-F2010

May Look Like on Net Basis Over Next 10 Years

One-Time Charges from the ‘Financial Crisis’ are Not Created Equal — While TARP Was the
Headliner, When All’s Said & Done, TARP may be Smallest Component, by a Long Shot

Current Cost |Ultimate Cash Cost
($B, as of 2/11) ($B, by F2020E) |Comments
May fall from net $213 billion to $51 billion or
less! as banks continue to pay back their loans

and automakers / AIG seek IPOs / sales to
realize value of USA Inc.’s equity stake.

May grow from net $152 billion to ~$160 billion
(or higher)? as Fannie Mae and Freddie Mac
losses on loan guarantees stabilize and they
continue to pay dividends on USA Inc.’s shares.

TARP $213B — —|— > <$51B'

GSE $152

Should rise from $177 billion to $417 billion’
ARRA $177 ——|— > $417 based on commitments...and a payback plan
was never factored into these payments.

Note: 1) Latest Treasury estimate as of 12/10, includes net profits from banks of $16B, net costs from AIG ($5B) / Automakers ($17B) / Consumers & Housing
programs ($-46B) and other. AIG net costs excludes potential gains from selling AIG’s common shares held by the Treasury, which could turn out to be a $22B profit
for the Treasury based on 10/1/10 closing price. Including this potential gain, TARP ultimate cost to the Treasury would be $29B. 2) White House OMB estimates
ultimate cash cost of Fannie Mae / Freddie Mac at $165B while the CBO estimates the ultimate cash costs at $160B. Both estimates imply an average default rate of
5-10% on Fannie Mae + Freddie Mac’s $5T loan guarantee portfolio and a loss severity of 50%. The Federal Housing Finance Agency (FHFA) estimates ultimate
costs to range from $142B to $259B. 3) Net cash costs are limited to discretionary spending items in ARRA. Source: CBO, U.S. Dept of Treasury, White House
OMB, FHFA.

(@)E) www.kpcb.com USA Inc. | Income Statement Drilldown 179

Recipients of $ from USA One-Time Charges (F2008-2011YTD)

Total Net 2008-2011 One-Time Charges = $542 Billion (as of 2/11)

Other

Transportation + Energy + Other

Consumers
Homeowners + Consumers
& Small Businesses +
Education + Nutrition + Tax

Banks
700 Banks received funds,
100 repaid so far

credits
Automakers
Insurers / Other Government-
Financial Institutions Sponsored
in ter Financial Enterprises
ASUS Fannie Mae + Freddie Mac
KP Source: Dept. of Treasury, as of 2/11.
a USA Inc. | Income Statement Drilldown 180

HOUSE_OVERSIGHT_020931
"
IMAGES-007-HOUSE_OVERSIGHT_023871.txt,"How to Teach the Twelve Cognitive Processes 125

itself, is the knowledge that underlies the hypothesis and understand-
ing what constitutes evidence and the consequences of evidence. This
knowledge is very domain specific and is the reason that doctors don’t
necessarily make good car mechanics, and vice versa. This knowledge
can be acquired only through practice and experience and can be ac-
quired only consciously. Diagnosis is thus a conscious process that is
very knowledge dependent. There is no seat-of-the-pants diagnosis,
namely, diagnosis that is seemingly subconscious, although it may
well seem that way. Having an intuition is usually just the result of
having a great deal of experience, so much so that hypotheses just
jump out at you because similar cases are so easily recognizable to an
expert. Someone who is good at diagnosis would be good at diagnosis
in any domain of knowledge if they knew how to gather and interpret
evidence in that domain.

Diagnosis is clearly very difficult to learn. Most people are rather
bad at it outside of their own areas of interest. Even inside their knowl-
edge base they can be sloppy in the reasoning and leap to wrong con-
clusions. This is true of all analytic skills. It is possible to never learn
to do them well.

HOW TO TEACH PLANNING

Planning is extremely important and typical of an analytic cognitive
process; it is something that some people simply never learn to do
well. Teaching planning must be focused around the assembly of a
case base. Planning is taught in many domains of knowledge and is
almost always taught wrong. The classic error is to teach the theory of
planning, means-ends analysis, a theory of urban planning, spatial
planning, military planning, and logic-based artificial intelligence
planning. Such courses all make the same mistake. Course designers
think people use theories when, in fact, when people plan, they sim-
ply try to adapt old plans that have worked before to new situations.
Often people don’t plan at all. They simply assume that a set of ac-
tions they intend to perform will work to achieve an expected goal.
Teaching planning is therefore a tedious process that is best begun
in childhood. It involves making plans, seeing how they play out,
and performing an analysis of what went wrong. Often people are
not even aware that they have made a plan, and are simply frustrated
when things go wrong. They almost never perform an after-action

HOUSE_OVERSIGHT_023871
"
IMAGES-011-HOUSE_OVERSIGHT_030763.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
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030763
"
TEXT-001-HOUSE_OVERSIGHT_022977.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
paul krassner______________________________________ 
5/5/2017 3:19:21 PM 
jeffrey E. [jeeyacation@gmail.com] 
I ONLY FORWARD THIS SO YORE AWARE OF ITS EXISTENCE--pk 
facebook.png; twitter.png; google_plus.png; rss.png; email.png; Screen-Shot-2017-05-04-at-10.31.40-PM-
410x220.png; Black-teen-confronts-white-teacher-over-racials-slur-Twitter-410x220.png; Texas-Governor-Greg-
Abbott-410x220.jpg; Joe-Scarborough-MSNBC-410x220.png; Sad-Paul-Ryan-via-twitter-410x220.png; Sen.-Bill-
Cassidy-CNN-410x220.png; Screenshot-814-410x220.png; trumpepstein2-410x220.jpg; Big-Bang-Theory-1-
410x220.jpg; Screen-Shot-2017-05-04-at-8.56.43-PM-410x220.png; default.gif; Sad-Paul-Ryan-yia-twitter-
290x156.png; Tennessee-Goy-Steye-Bashear-yia-screencap-300x161.png; Sad-Paul-Ryan-via-twitter-300x161.png; 
Sen.-Bill-Cassidy-CNN-300x161.png; A-judges-gavel-Shutterstock-300x161.jpg; Screenshot-814-300x161.png; Rep.-
Barbara-Comstock-Facebook-300x161.png; Big-Bang-Theory-1-300x161.jpg; Iyanka-Trump-ABC-News-300x161.png; 
a45-300x161.jpg; Black-teen-confronts-white-teacher-oyer-racials-slur-Twitter-300x161.png; Robert-Reich-2-
300x161.jpg; Joe-Scarborough-MSNBC-300x161.png; Screen-Shot-2017-05-04-at-10.31.40-PM-300x161.png; rs-
footer-email-icon.gif 
Importance: High 
i only forward this link so you're aware of its existence... 
Top of Form 
Search ... 
Bottom of Form 
HOUSE OVERSIGHT 022977 
HOUSE OVERSIGHT 022978 
HOUSE OVERSIGHT 022979 
Sex slavery lawsuit links Trump's 
Mar-a-Lago to pedophile ring: report 
NOOR AL-SIBAI 
04 MAY 2017 AT 16:45 ET 
Facebook8.8K8.9KSkvoeMore299300 
Jeffrey Epstein (left, via YouTube screengrab) and President Donald Trump (right, via Creative Commons) 
DON'T MISS STORIES. FOLLOW RAW STORY! 
Last fall's allegations of sexual assault against President Donald Trump failed to stop his 
presidency, but one of the more explosive of those allegations is once again making headlines. 
POLITICO reported that a new lawsuit reveals details linking Trump to billionaire 
pedophile Jeffrey Epstein, a convicted sex offender. The reports indicate that one lawsuit 
contains information about Virginia Giuffre who alleges that she met Epstein while working as 
a towel girl at Mar-a-Lago when she was 15 before being recruited into ""sexual slavery"". 
HOUSE OVERSIGHT 022980 
Giuffre's case is set to appear before a judge on May 15, and although her accusations against 
Epstein have been public for some time, this is the first time the detail about her employment 
at Mar-a-Lago has been included. 
Last summer, the Trump-Epstein connection made headlines when Trump was slated to win 
the Republican nomination, and just before the election, a woman came forward alleging that 
Trump raped her when she was 13 at one of Epstein's parties — only to drop suit a few days 
later. 
In 2015, Trump lawyers denied claims of the then-candidate's involvement with Epstein by 
saying their only relation was that Epstein was ""one of thousands of people who has visited 
Mar-a-Lago"". Those claims that fly in the face of a 2002 New York Magazine interview in 
which Trump claimed to have known Epstein for 15 years. 
""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. No doubt about it — Jeffrey enjoys his social life,"" 
Trump told reporters. 
Reiort los and corrections to corrections@rawstor .com 
NEXT ON RAW STORY > 
Gleeful Democrats see Trumpcare as political suicide for House GOP: 
'They are staring death in the face' 
By commenting, you agree to our terms of service and to abide by our commenting policy. 
READ COMMENTS - JOIN THE DISCUSSION 
NEW STORIES 
Obamacare 
______How one US state is leading the charge to dismantle 
HOUSE OVERSIGHT 022981 
• 
for House GOP: 'They are staring death in the face' 
• 
Kimmel test' to win his su 
ort 
• 
spills onto a Missouri school playground 
as political suicide 
ill must pass 'Jimmy 
church and state 
• blem crushing 
the poor and sick to help the ultra-rich 
Raw Story 
SIGN UP FOR OUR NEWSLETTER 
Get the best of Raw Story, delivered daily 
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HOUSE OVERSIGHT 022982 
TRUMP NEWS 
Obamacare 
are starin 
death in the face' 
for House GOP: 'The 
- 
Trump 
backlash 
How ing I arge to dismantle 
are as political suicide 
2 he GOP health bill 
ad a message for 
o received online 
HOUSE OVERSIGHT 022983 
• 
Pope 
Li 
Kimmel test' to win his su 
white teacher who insists on 
• 
`unnecessar 
of Tru 'onship with the 
ill must pass 'Jimmy 
': Watch a black teen confront his 
p actions — le for its 
•ty of the 
GOP health care bill are deplorable'  
HOUSE OVERSIGHT 022984 
• 
Meyers hilariously taunts a White House 'detached from reality' 
picer': Seth 
SEE ALL RAW STORIES 
SIGN UP FOR OUR NEWSLETTER 
Get the best of Raw Story, delivered daily 
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HOUSE OVERSIGHT 022985 
"
IMAGES-003-HOUSE_OVERSIGHT_014905.txt,"Expedia (Buy, $146 PO)

Stock view: 1Q faces tough comps, but should clear way for strength into ‘18

We think 1Q expectations are somewhat muted as Expedia has highlighted several
earnings headwinds in early 2017, including incremental cloud migration spend, higher
marketing spend and, recently, potential ADR pressure. 1Q’17 earnings will face the
toughest room night growth comps, though Expedia expressed optimism on trends
through January on the 4Q call. Comps ease during the rest of the year for Expedia,
which we see as a positive set up for the stock. We think Expedia will reiterate its 10-
15% EBITDA growth outlook and .Expedia remains our top 2017 summer (2Q/3Q) travel
idea.

We currently forecast 20% y/y room night growth in 2Q/3Q, though the comp is
1600bps easier vs. 1Q and street growth expectations could be higher. The ongoing
benefit of conversion rate improvements, the Easter shift into 2Q (noted as 1% impact
in 2Q’16), as well as the benefit of more aggressive marketing spend should aid 2Q
growth. Additionally, prior to 1Q’17 earnings, Expedia will begin to disclose HomeAway
online bookings and room nights, which we think may drive y/y room night growth 200-
300bps higher (we forecast HomeAway room nights up 50% y/y in 2017 vs. core OTA
room nights up 18%). We think investors will also view HomeAway disclosure positively
if the data indicates that the HomeAway transition remains on track and provide
visibility into potential EBITDA acceleration in 2018.

STR data suggests hotel fundamentals deteriorated modestly in the US through initial
March readings, but improved slightly in Europe through February. However, Expedia’s
CEO commented in a recent interview with the Financial Times that international
tourism to the US (Expedia’s key market) has decelerated following the introduction of
Trump’s travel bans, which may be a downside risk to 1Q bookings and revenues. This
mirrors ForwardKeys data from early March that after Trump’s executive order, foreign
tourism bookings to the US fell, then rebounded when the ban was suspended, but
declined again when the ban was re-introduced. A few US hotel operators have
indicated little impact from travel bans, so data is mixed.

Key theme/metric(s) for 1Q: room night growth vs industry and Priceline

We expect 1Q organic room night growth to remain steady at 16% y/y, though we note
that this does not yet include the contribution from HomeAway, which we think should
add 200-300bps to y/y growth. We expect N. America bookings growth of 12% y/y vs.
8% in 4Q, Int’l bookings (FX-neut.) of 14% y/y.

Biggest 1Q issues/risks:
« Room nights may disappoint on tougher 1Q comps, negatively impacting the
acceleration thesis

¢ — Expedia’s CEO commented in a recent interview with the Financia/ Times that
international tourism to the US (Expedia’s key market) has decelerated following
the introduction of Trump’s travel bans, which may pressure hotel ADRs and be a
downside risk to 1Q bookings

¢ Pace of investments, namely cloud IT spend ($110mn in 2017) and marketing ramp

« HomeAway EBITDA trends given marketing spend ramp and pressure on
subscription revenues. Street has high expectations for the business.

¢ Pressure on hotel take rates given agency mix shift and rewards programs

Early 1Q RevPAR data decelerates
According to STR, 1Q US RevPAR through initial March readings decelerated 30bps to
3.0% y/y, and European RevPAR through February accelerated 600bps q/q to 3.6% y/y

Bankof America

Merrill Lynch Internet/e-Commerce | 06 April2017 19

HOUSE_OVERSIGHT_014905
"
IMAGES-006-HOUSE_OVERSIGHT_021391.txt,"capacities that can be employed to care
for patients. Science gives knowledge of
the remarkable neurological and
psychological features of the social brain
that make activities like caring for the
sick possible. But science can also
depersonalize the patient viewed through
the eyes of the physician scientist.
Religions (and other moral communities)
motivates an attention to the person who
is the patient, providing a fuller vision
for the worthiness of caring for the sick,
and drawing the physician and patient
closer together. Religion and moral
communities can also provide a
framework to guide the application of
medical science in that endeavor, and
practices that strengthen the human
capacity for treating patients as the
mindful persons they are. It is the
balance of the tensions produced by the
forces of science and religion that may
hold a key to better medical practice and
patient care.

References

1 Curlin FA, Lantos JD, Roach CJ,
Sellergren SA, Chin MH.
Religious characteristics of U.S
physicians: A national survey. J
Gen Intern Med. Jul
2005;20(7):629-634.

2 See Curlin FA, Chin MH, Sellergren
SA, Roach CJ, Lantos JD. The
association of physicians’ religious
characteristics with their attitudes
and self-reported behaviors
regarding religion and spirituality
in the clinical encounter. Med
Care. 2006;44:446-53, and Curlin
FA, Sellergren SA, Lantos JD,
Chin MH. Physicians’ observations
and interpretations of the influence
of religion and spirituality on
health. Archives of Internal
Medicine. 2007; 167(7):649-54.

Page |145

3 Curlin FA, Odell S, Lawrence RE,
Chin MH, Lantos JD, Meador KG,
Koenig HG. The relationship
between psychiatry and religion
among US physicians. Psychiatr
Serv 2007;58(9):1193-1198.

4 Holy Bible. Matthew 25:40.

HOUSE_OVERSIGHT_021391
"
IMAGES-002-HOUSE_OVERSIGHT_014394.txt,"UMB Financial Corp, Wells Fargo, Zions.

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r financial instruments and that such

80 2016 Future of Financials Conference | 17 November 2016

HOUS

BankofAmerica <2”
Merrill Lynch

E_OVERSIGHT_014394
"
IMAGES-005-HOUSE_OVERSIGHT_018970.txt,"Date: 7/13/06 PALM BEACH POLICE DEPARTMENT Page: 17
Time: 9:27:55 Incident Report Program: CMS301L
Case No. .. . : 1-05-000368 (Continued)
a photo of Epstein to be used in a photo line up. I met with] b6
at which time she viewed the photo line up. She immediately b7C

recognized Epstein and pointed to him (Position #5). [___|signed
the photo line up under Epstein's picture. This signed line up was
placed into evidence.

On 03/18/2005, I met withL__ | at her residence for the purpose of
placing a controlled call to ~~: [| | spoke with
and asked if she could arrange another meeting with Jeff.

stated that she would have to call him and make the arrangements. A
copy of this conversation was placed into evidence.

left the state to visit with her aunt and
is scheduled to return to Florida on 03/27/2005

03/19/2005, I spoke with
advised that
uncle.

03/21/2005, I coordinated with PB BSF Unit and OCVAN to initiate
surveillance on 358 El Brillo.

03/21/2005, Coordinated with Det. Lee regarding trash pulls from 358
El Brillo. On this same date I called(~__.—C—C’-«x Jto:~ Schedule an
appointment to speak with[___] She stated the school guidance
counselor was reluctant to have-police presence at the school. I
assured her that I would respond to the school in civilian clothes and
an unmarked vehicle.

[—S—té‘“—;S.vrdéiCaliedd me: back and advised that I did not need to make
an appointment to see _—

I received a return phone call from[L_—C~C‘idS Sting Tha
[______]would be attending the family therapy sessions with :
I received messages froml_—i—‘“‘(WC@d

I conducted a computer query on Epstein. The results of this query
indicated the most recent driver's license on file for Epstein was for
the state of Florida, which had expired.

A cross reference of Epstein s residence, 358 El Brillo, Palm Beach,

' revealed the following affiliated names: w/f, dob
[——rd@dsY:sésMark LL. Epstein, w/m dob & Ghislaine N.
Maxwell, uk/E, gob Do] A computer query for both returned no
history.

On 03/23/2005, I spoke with[~—,— ._ ]cell phone wk[L_____s. sit
requested that she not discuss the incident with anyone including her
daughter[_____]as I did not want the investigation compromised. I was
told at this time, that [__] and have not been getting along due
to the fact that[____] has decided to continue living with her father.

On 03/29/2005, I placed telephone calls to both the[(_Jand
[.___]xresidences requesting to speak with them regarding the

HOUSE_OVERSIGHT_018970 |
"
TEXT-002-HOUSE_OVERSIGHT_032062.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
Martin G. Weinberg 
10/9/2016 2:14:46 AM 
jeffrey E. [jeevacation@gmail.com]; Darren Indyke 
ATTORNEY-CLIENT PRIVILEGE 
Redline of 10-7-16 Revisions to Opp by DKI.docx MGW EDITS.docx 
Privileged - Redacted 
L._ 
From: jeffrey E.  
Sent: Saturday, October 08, 2016 9:07 PM 
To: Kathy Ruemmler ; Darren Indyke ; Martin Weinberg  
http://lawnewz.com/high-profile/federal-judge-orders-hearing-in-donald-trump-rape-lawsuit-case/ 
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 032062 
"
IMAGES-005-HOUSE_OVERSIGHT_020237.txt,"85

surveillance, if Gellman agreed to write a story on it for the Washington Post. Even though
Gellman had left the staff of the Washington Post in 2010, he had previously written several
stories on that subject for the newspaper. He was also highly-regarded by the editors there. He
was therefore interested in Poitras’ offer (although he would consult a friend at the Justice
Department about the legality of publishing NSA documents.

Snowden now had laid the groundwork for at least two possible outlets; one an establishment
newspaper in Washington DC, the Washington Post; and a well-respected international
newspaper, the Guardian.

Poitras, however, was having some difficulty in bringing Greenwald in on the plan. Like
Snowden, she did not trust writing him in unencrypted emails and, since Greenwald lived in
Brazil, she still had not found an opportunity for a face-to-face meeting with him.

That opportunity arose in mid-April 2013. Greenwald had flown to New York to give the lead
speech at an event in Yonkers, N.Y. sponsored by the Council on American-Islamic Relations, or
CAIR, a pro-Moslem civil rights and anti-Zionist organization. He had delivered the keynote
speech at its previous meeting in San Jose, California on November 22, 2012, where his
impassioned depiction of the American “Surveillance State” in America received a rousing
ovation from the attendees. He was invited to speak at this award dinner for its east coast chapter.

Poitras flew from Berlin to New York to see him. On April 19, 2013, she arranged to meet
Greenwald at noon in the restaurant of the Marriott hotel where Greenwald was staying. When
Greenwald arrived at the restaurant carrying a cell phone, she explained to him that the NSA
could surreptitiously turn his cell phone into a microphone and use it to eavesdrop on their
conversation. She told him to go back to his room to get rid of the phone. When he returned,
phoneless, she took further precautions by having them change tables several times. Greenwald
accepted these tactics because, as Greenwald later said, she was in charge of their “operational
security.”

After they finally found a secure table in the nearly empty restaurant, she showed Greenwald
emails she had received from Snowden under the alias Citizen 4. Greenwald, as he recounted,
made “no connection to the “long-forgotten emails” he had received from Snowden under the
alias Cincinnatus. Reading the emails to Poitras, he was impressed with the “sincerity” of the
anonymous correspondent.

When Poitras showed Greenwald Citizen 4’s mission statement in which he said his motive was
to end the US “surveillance state.” Greenwald was further impressed with the source. After all,
the surveillance state Snowden described closely dovetailed with the surveillance state that
Greenwald had described himself in his speech at the Council on American-Islamic Relations
dinner in 2012. Of course, the close proximity of the phrasing may not have been entirely
coincidental. Greenwald’s 2012 speech had been put on YouTube and widely circulated on the
Internet just a few days before Snowden first wrote Greenwald on December 1, 2012. Snowden

HOUSE_OVERSIGHT_020237
"
IMAGES-001-HOUSE_OVERSIGHT_011054.txt,"I believe that the case for this rule is very strong. The deadweight loss rule and the
argument from the maximand rule give logical certitude that human depreciation is
expected to be recovered in pay. The convergence axioms would then give actual
recovery as anorm. The rule disallows the prior claims hypothesis, or possibility
that maintenance is recovered too, from an accumulation of implausibilities that led

me finally to rule them out by adjusting the axioms.

The life cycle model should also specify that human capital continues after
retirement. | admit that this rules out the simplicities assumed in the boss/secretary
parable. It continues because we earn imputed pay until the end, and human capital

remains as its present value.
I would also model in my depreciation theory. Pay, like the mortgage payments, is
all realized work (interest) at the start and all human depreciation (amortization) at

the end. No other explanation of age-wage profiles will hold water.

A New Approach to the Pay Rule

] reasoned to the pay rule from the maximand and deadweight loss rules. Another

approach can reach the same conclusion.

The total return truism finds

output = capital growth + cash flow.

(6.16) expressed Ben-Porath’s equation as

human growth = invested consumption + self-invested work

-recovered human depreciation.

Cash flow is the flow discounted to present value. Tradition, since Farr in the mid-

nineteenth century, has seen human capital as present value of future pay less what

Chapter 6: Parallels with the Firm 2/4/16 20

HOUSE_OVERSIGHT_011054
"
IMAGES-002-HOUSE_OVERSIGHT_014380.txt,"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 SIF1, 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-than-
anticipated 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 Bankof America 2
Merrill Lynch

HOUSE_OVERSIGHT_014380
"
IMAGES-010-HOUSE_OVERSIGHT_029109.txt,"To: ""Summers, Lawrence 1."" <i s

Trending Now Wed., Oct. 11, 2017 9:01 a.m.

Friends for three decades, Trump whisperer says he is
‘stunned’ by president’s rhetoric

Billionaire Thomas J. Barrack Jr. has done what few others in Trump’s orbit have
done: He told the president, in effect, that he was wrong. ""In my opinion, he’s better
than this,” Barrack said.

Trump’s relationship with Barrack is one of the most important, if little understood, of
the president’s life, offering a case study of what it takes to remain close to him in a
time of such turmoil.

Read more »

eee

HOUSE_OVERSIGHT_029109
"
IMAGES-005-HOUSE_OVERSIGHT_018964.txt,"Date: 7/13/06 PALM BEACH POLICE DEPARTMENT

Time: 9:27:55 Incident Report Program: CMS3011L
Case No. .. . : 1-05-000368 (Continued)
Weight ... : 0 Person Type . : OTHER PERSON

Other Phone Nbr:

KKEKKKKEK O T HER PERSON INFORMATION Q_KKKKKKKKK
Case Number . : 1-05-000368 Last Name .. =:

Street Number

City . :

Birth Date/Age : Employer? ..:

Occupation ..: Oper Lic No. . rs

Home Phone No. : Race... .. : White

Sex... . 6.3: Height ....: 0 b6

Weight .. : 0 Person Type . : OTHER PERSON bIc

Other Phone “Nbr: 561/000-0000

RREKRERKERRREERRREEREEKRKEERERE NAR RA TIVE # LL BRK REKRERKERERERERERERERRRERE

Original Report LO Reported By: PAGAN, MICHELE D. 9/20/05
Entered By.: OREGERO, LAURA D. 9/20/05

On 03/14/2005, I received a call from _a_woman who did not wish to
identify herself (later identified a ee She stated
that her fourteen year old step daughter (later identified as

possibly may have been molested in Palm Beach by a wealthy
man. According col she learned of the possible molestation
by a third party. She explained that she had received a call from the
mother of her stepdaughter's friend. The mother claimed to have
overheard a conversation between her daughter and a male friend; they
were talking. about[____] The conversation was about how[___]had met
with a 45-year-old man and had sex with him and was paid for it. I
advised] that I would like to meet with her to obtain a more
detailed statement and facts. [|_| stated she did not know what
to do and had to discuss the matter with her husband. At this point

did not provide me with a call back number or any other
information. She stated that she would contact me once she had spoken
with her husband and[__]mother. b6

b7c
On 03/14/2005 received a call from They stated

it was all right to speak to their daughter via cell phone[ |
CL) osHer mother |] had been made aware of the case.

pase sazese to meet me. at the police department later this date.

on 03/14/2005, 7__ accompanied by his wife L___]

came to the Palm Beach Police Department where they advised
‘me that they believed their fourteen year old daughter may have had
some type of sexual relationship with an older male who resided in
Palm Beach. Neither. knew the suspect's name or address. Both stated
that their daughter did not talk to them about the incident, nor would
she admit to it. ;

identified his daughter as
resides with her biological mother

Ebel is a twin,

HOUSE_OVERSIGHT_018964
"
IMAGES-002-HOUSE_OVERSIGHT_012929.txt,"1.12 Key Claims of the Book 13

The best way to deal with this second “bad AGI” problem is to build ethics into your AGI
architecture — and we have done this with CogPrime, via creating a goal structure that explicitly
supports ethics-directed behavior, and via creating an overall architecture that supports “ethical
synergy” along with cognitive synergy. In short, the notion of ethical synergy is that there are
different kinds of ethical thinking associated with the different kinds of memory and you want
to be sure your AGI has all of them, and that it uses them together effectively.

In order to create AGI that is not only intelligent but beneficial to other sentient beings,
ethics has got to be part of the design and the roadmap. As we teach our AGI systems, we need
to lead them through a series of instructional and evaluative tasks that move from a primitive
level to the mature human level — in intelligence, but also in ethical judgment.

1.11 Structure of the Book

The book is divided into two parts. The technical particulars of CogPrime are discussed in Part
2; what we deal with in Part 1 are important preliminary and related matters such as:

e The nature of real-world general intelligence, both conceptually and from the perspective
of formal modeling (Section I).

e The nature of cognitive and ethical development for humans and AGIs (Section IIT).

e The high-level properties of CogPrime, including the overall architecture and the various
sorts of memory involved (Section IV).

e What kind of path may viably lead us from here to AGI, with focus laid on preschooL-type
environments that easily foster humanlike cognitive development. Various advanced aspects
of AGI systems, such as the network and algebraic structures that may emerge from them,
the ways in which they may selfmodify, and the degree to which their initial design may
constrain or guide their future state even after long periods of radical self-improvement
(Section V).

One point made repeatedly throughout Part 1, which is worth emphasizing here, is the current
lack of a really rigorous and thorough general technical theory of general intelligence. Such a
theory, if complete, would be incredibly helpful for understanding complex AGI architectures
like CogPrime. Lacking such a theory, we must work on CogPrime and other such systems using
a combination of theory, experiment and intuition. This is not a bad thing, but it will be very
helpful if the theory and practice of AGI are able to grow collaboratively together.

1.12 Key Claims of the Book

We will wrap up this Introduction with a systematic list of some of the key claims to be argued
for in these pages. Not all the terms and ideas in these claims have been mentioned in the
preceding portions of this Introduction, but we hope they will be reasonably clear to the reader
anyway, at least in a general sense. This list of claims will be revisited in Chapter 49 near the
end of Part 2, where we will look back at the ideas and arguments that have been put forth in
favor of them, in the intervening chapters.

HOUSE_OVERSIGHT_012929
"
IMAGES-005-HOUSE_OVERSIGHT_020223.txt,"71

anonymous. So, to evade this built-in transparency in the Internet, dark side users have come to
rely on ingenious software to hide their IP address. The most commonly used software for this
purpose is TOR. It was first called The Onion Router, since it moves IP addresses through
multiple layers, but it quickly became known simply by its acronym, TOR. TOR software hides
the IP address by routing messages through a network of TOR-enabled relay stations, called
“nodes.” Each node further obscure the user’s IP, even from the next node in the network. This
scrambling allows messages to exit the chain of TOR nodes without an easily discoverable IP. By
doing so, it “anomizes” each user of the dark side.

Because of the anonymity it provides, TOR became the software of choice for individuals and
organization who wanted to hide their identity. For example, TOR software made possible Silk
Road, which acted as an exchange for drug dealers, assassins, safe crackers, and prostitutes until
it was closed down by the FBI in 2011. It was created by Ross Ulbricht, a libertarian who wore a
Ron Paul t-shirt, “to create a website where people could buy anything anonymously, with no trail
whatsoever that led back to them.” (Ulbricht received a life prison sentence for running this
criminal enterprise in May 2015.) To eradicate the Internet trail, Silk Road employed TOR
software.

TOR was also employed to steal and transfer classified secrets by Private Bradley Manning
(now called Chelsea Manning.) He used TOR software to transfer some 50,000 diplomatic cables
and military reports from his laptop to Julian Assange’s Wikileaks website. Eventually Manning
was identified by a fellow hacker, convicted by a military court for violations of the Espionage
Act, and sentenced to 35 years in prison. TOR enabled Wikileaks to publish other secret data,
such as the theft of Sony’s files allegedly by the North Korean intelligence service in 2015. It was
the means for guaranteeing anonymity to the IT workers who responded to his by now famous
clarion call “System admins of the world unite.” It allowed system administrators who opposed
the “surveillance state,” as well as other disgruntled employees of government agencies or
corporation, to send documents they copied to the Wikileaks website without revealing their IP
addresses. Since Wikileaks did not know the identity of their sources, they could not be legally
compelled to reveal them. ""Tor's importance to WikiLeaks cannot be overstated,"" Assange said
in an interview with Ro/ling Stone in 2010. Indeed without the anonymity provided by its TOR
software, Wikileaks could not have easily entered into a document-sharing arrangement major
newspapers, including the Guardian, New York Times, Der Spiegel, Le Monde and El Pais.
Through the magic of TOR, these newspapers simply attribute their sources to Wikileaks which,
in turn, made Assange a major force in international journalism/.

Ironically, TOR originally was a creation of US intelligence. In the early 2000s, the US Naval
Research Laboratory and the Defense Advance Research Project Agency (DARPA) developed it
to allow US intelligence operatives to cloak their movements on the Internet. They could
anonymously manipulate web sites operated by Islamic radicals, for example, and create their own
Trojan Horse sites to lures would-be terrorists and spies. As it turned out, that use of TOR

HOUSE_OVERSIGHT_020223
"
IMAGES-001-HOUSE_OVERSIGHT_011040.txt,"The terms gross cash flow, earned revenue and gross realized output will be used

interchangeably. “Realized” and “recovered” will likewise be synonymous, as will be

tt

“proprietary”, “unrealized” and self-invested”.

(A6.1) allows

realized output = cash flow + plowback + transfer in
- recovered decapitalizaiton. (6.1a)

Define

unrealized output = output - realized output
= growth + cash flow - realized output
= growth - plowback - transfer in
+ recovered decapitalization, (6.9)

by (6.1a) and the total return truism.

Proprietary Output and Deadweight Loss

Unrealized or proprietary or self-invested output of the firm is creation of value not
yet sold or not meant to be sold. This can be something as workaday and
perfunctory and automatic as output to inventory. Other illustrations could be
where a construction firm builds its own offices, or a car manufacturer makes cars
for its executive fleet. (6.9) shows that it includes all growth not explained by
plowback plus transfer in less recovered decapitalization. This implicitly includes all
free growth. Judging from my charts and tables, free growth seems to mean all of

growth at the collective scale. What effect might it have on the firm?

Free growth includes random windfall gain and deadweight loss as well as the
overall upward trend expressing new ideas. Deadweight loss is unrecovered

decapitalization, meaning not recovered in cash flow, That makes it negative output

Chapter 6: Parallels with the Firm 2/4/16 6

HOUSE_OVERSIGHT_011040
"
IMAGES-010-HOUSE_OVERSIGHT_030458.txt,"Date: Monday, March 7 2011 09:53 PM
Subject: RE: FW: Please forward

From: Peter Mandelson [iii

To: Jeffrey Epstein <jeevacation@gmail.com>;

home if you want to talk - going to bed early...

From: Jeffrey Epstein [jeevacation@gmail.com]
Sent: 07 March 2011 17:01

To: Peter Mandelson BT

Subject: Fwd: FW: Please forward

From: Kirsty Mackenzie [mailto 7 <n:iltc: i |
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 - I or this email address.
My very best wishes and my thanks!
Kirsty

Kirsty MacKenzie,

HOUSE_OVERSIGHT_030458
"
TEXT-002-HOUSE_OVERSIGHT_033368.txt,"From: Richard Kahn 
Sent: 6/7/2019 4:21:40 PM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: Koch network floats backing Democrats in revamp of influence operation 
Importance: High 
they must hate trump.. 
https://www.politico.com/story/2019/06/07/koch-network-gives-bipartisanship-a-chance-1356571  
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033368 
"
IMAGES-003-HOUSE_OVERSIGHT_014911.txt,"« Marketing expense expected to ramp in 2017, which can weigh on earnings,
especially if gross food sales comes in weaker than anticipated.

Estimates vs. Consensus: Broadly in-line with consensus in 1Q’17
We expect 1Q revenue/EPS at $153mn/S0.25 vs. the Street at $153mn/$0.24 driven by
gross food sales growth and an improving take rate.

Table 16: GrubHub Estimate Summary

1017 2017 2017 2018
Revenue
BofAML est. $153 $159 $650 $815
Growth Y/Y% 37% 33% 32% 25%
Street $153 $158 $645 $782
BofAML vs. Street Below Above Above Above
EBITDA
BofAML est. $41 46 $184 $247
Street $40 46 $181 $225
BofAML vs. Street Above Below Above Above
EPS
BofAML est. $0.25 $0.29 $1.13 $1.55
Street $0.24 $0.28 $1.10 $1.37
BofAML vs. Street Above Above Above Above

Source: BofA Merrill Lynch Global Research estimates, Bloomberg, as of 4/4/2017

Our PO is $49, based on 32x our 2018E P/E (vs. high growth internet at 31x). We believe
GRUB warrants a premium to eCommerce peers due to the attractive margins of the
core business and, relative to the overall small-cap sector, GRUB has more attractive
margins and growth potential.

Bankof America

Merrill Lynch Internet/e-Commerce | 06 April2017 25

HOUSE_OVERSIGHT_014911
"
IMAGES-008-HOUSE_OVERSIGHT_025289.txt,"Contact list

UBS WM Global Chief Investment Officer
Alexander Friedman
alexander.friedman@ubs.com

UBS WM Head of Investment
Mark Haefele
mark.haefele@ubs.com

UBS WM Global Investment Office

Themes / UHNW Asset Allocation Advisory Asset Allocation Discretionary Alternative Investments
Simon Smiles Mark Andersen Mads Pedersen Andrew Lee
simon.smiles@ubs.com mark.andersen@ubs.com mads.pedersen@ubs.com andrew.lee@ubs.com
Kiran Ganesh Karsten Bagger Christophe de Montrichard

kiran.ganesh@ubs.com karsten.bagger@ubs.com christophe.de-montrichard@ubs.com

James Purcell Achim Peijan Walter Edelmann

james.purcell@ubs.com achim.peijan@ubs.com walter.edelmann@ubs.com

Christopher Wright Philipp Schéttler Markus Irngartinger, CFA

christopher-zb.wright@ubs.com philipp.schoettler@ubs.com markus.irngartinger@ubs.com

Oliver Malitius
oliver.malitius@ubs.com

Matthias Uhl
matthias-w.uhl@ubs.com

UBS WM Regional Chief Investment Officers (CIO)
Regional CIO Asia-Pacific

Regional CIO Europe Regional CIO Asia-Pacific (South) Regional ClO Emerging Markets Regional ClO Switzerland
Andreas H6éfert Yonghao Pu Kelvin Tay Jorge Mariscal Daniel Kalt
andreas.hoefert@ubs.com yonghao.pu@ubs.com kelvin.tay@ubs.com jorge.mariscal@ubs.com daniel.kalt@ubs.com

at UBS «

HOUSE_OVERSIGHT_025289
"
TEXT-001-HOUSE_OVERSIGHT_015671.txt,"﻿Robin Solomon
In a career spanning three decades in academic medicine, Robin Solomon has combined patient care, clinical
research, philanthropy and business development expertise to build strategic alliances, brand recognition and
revenue. In evolving leadership roles at The Mount Sinai Medical Center, she has developed a reputation for her
innovative programming, quick grasp of new situations and common sense approaches to challenging problems.
She is recognized for her comprehensive understanding of the healthcare sector, including operating models, the
political and regulatory environment, shifting demographics, financial opportunities and economic trends. Her
eighteen years as an ICU nurse informs the way she navigates patient care on a human level, collaborates with
physicians and persuasively conveys the potential impact of philanthropic gifts to donors.
Board and Donor Relations, Medical Navigation. As Vice President, Trustee Services, Robin developed and led
a high-touch, best in class Donor Relations program. The services include 24/7 medical direction, referrals and
oversight to the Mount Sinai Board and donor community to optimize the patient experience. Robin established
relationships and gained participation from prestigious corporate, financial, and legal firms including Goldman
Sachs, Paul Weiss Rifkind, Schulte Roth, Donna Karan, Warner Music and Federated Department Stores. This
program has generated hundreds of physician referrals and over $20 million in incremental revenue each year. As a
patient advocate, Robin has participated in thousands of multi-disciplinary patient care teams from initial consults to
final outcomes.
Philanthropy. Robin’s trusted relationships with medical, business, civic, and community leaders enable her to
secure funds needed to advance medical, academic and patient care initiatives. During her tenure, she raised over
$29 million in donations from individuals, corporations and foundations. Robin conceived, co-chaired and ran “A
Toast to Health” an annual wine benefit, which raised $17 million dollars over nine years, consistently attained over
85% event underwriting. She has directed philanthropic funds to capital projects including an upgrade of the
emergency room, complete renovation of the Neonatal and Pediatric ICU’s and state-of-the art modernization of a
medical school lecture hall. Her efforts have also provided $2.8 million for scholarships to The Mount Sinai School
of Medicine and supported programs including Visiting Doctors, Palliative Care Fellowships, and perinatal
bereavement social work.
Global Health. Robin has planned and executed cogent responses to critical international medical needs. At the
request of President Clinton’s office, she arranged for physicians and medical supplies to be sent with first
responders in the days following the 2010 earthquake in Haiti. She collaborated with military leaders, USAID, and
Dr. Paul Farmer of Partners in Health to organize transport of fully supplied surgical teams and re-open the
University Hospital in Port au Prince. In 2006, in close coordination with Liberian President Ellen Johnson Sirleaf
and her ministers, Robin established a medical mission to Liberia. She obtained private funding to send physicians
and support personnel to provide medical care and surgical interventions. The project has continued and led to
administration of the first chemotherapy and pap screening clinic in Monrovia.
Clinical Research Leadership. As Assistant Dean for Clinical Trial Operations and Business Development, she
designed and led the Office of Clinical Trials, key to advancing translational research. She launched marketing and
outreach programs to convey Mount Sinai’s research capabilities. These efforts attracted ongoing contracts from
Novartis, Smith Kline Beecham, Amgen and Pfizer and other pharmaceutical and biotech companies. She facilitated
over $18 million in grant funding, increased clinical trials by 40% and grew patient enrollment by over 320%
annually.
Robin was Senior Research Coordinator on a CDC multicenter study measuring the effects of using safety devices
for drawing blood, inserting IV’s and giving injections. The manufacturers extended the study solely at The Mount
Sinai Hospital. This research opened the multi-billion dollar market for safety devices. Earlier, Robin coordinated
and performed clinical research at Cornell University Medical College’s Surgical Metabolism Laboratory.
Patient Care. Robin’s clinical expertise was developed over more than eighteen years as an ICU nurse at New York
Hospital, Columbia-Presbyterian Hospital and The Mount Sinai Medical Center. The scope of her medical
knowledge reflects years of hands-on patient care and thousands of decision-making conversations with physicians
and families.
Robin holds a Master of Science in Exercise Physiology, cum laude from the University of Massachusetts and
Bachelor of Science in Nursing, cum laude from the University of Florida.
"
IMAGES-006-HOUSE_OVERSIGHT_021385.txt,"CaYr@even

@ Cconcérn

patients’

1

King

Tespa
physician _
aah ing

i.
=]

framework

a
3p
3

Chapter 15""°

'S The lead author is Farr A. Curlin, M.D., a
hospice and palliative care physician, researcher,
and medical ethicist at the University of
Chicago. His empirical research charts the
influence of physicians' moral traditions and
commitments, both religious and secular, on
physicians' clinical practices. As an ethicist he
addresses questions regarding whether and in
what ways physicians' religious commitments
ought to shape their clinical practices in our
plural democracy. Curlin and colleagues have
authored numerous manuscripts published in the
medicine and bioethics literatures, including a
New England Journal of Medicine paper titled,
“Religion, Conscience and Controversial
Clinical Practices.” As founding Director of the
Program on Medicine and Religion at the
University of Chicago, Dr. Curlin is working
with colleagues from the Pritzker School of
Medicine and the University of Chicago Divinity
School to foster inquiry into and public discourse
regarding the intersections of religion and the
practice of medicine.

In the world of contemporary medicine,
science is front and center, and for good reason.
Science provides modern medicine with
extraordinary diagnostic and therapeutic
capacities that can be employed to care for
patients. Yet there is more to medicine than
science can know. Science cannot provide
visions to animate care of the sick, moral
frameworks to guide the application of medical
technology, or practices that nurture and extend
our sociobiological capacity to care for others.
For these medicine turns to religious and secular
moral traditions and practices. This essay
examines how religious concepts are implicit and
operative in practices of medicine and in the
formation of fully human physicians. By
attending to these concepts, we may gain a richer
understanding of the way self-conscious human
practices like medicine both depend on and

Page |139

Social Brain, Spiritual Medicine?

No one ever asks what science
has to do with medicine any more than
they ask what books have to do with
education or what tools have to do with
carpentry. Before the middle of the 19th
century, there was almost nothing that
physicians, however well intended,
could do to actually restore health to the
ill. Modern science changed that. Over
the past century and a half, dramatic
improvements in health outcomes have
been wrought through the application of
sterile surgery techniques, specialized
hospital care, public health measures to
prevent the spread of infectious diseases,
antibiotics to treat those diseases, and
myriad subsequent technologies. All of
these have been undergirded by the
discoveries of biomedical science.

As aresult, the life expectancy in
developed nations has doubled. People
live not only longer but with much less
disability. Diseases that formerly
disfigured and killed, such as smallpox
and polio, have been almost completely
eradicated. Epidemics of malaria, yellow
fever, measles and diphtheria have been
restrained. Injuries from war or other
traumatic events, which in earlier
periods led predictably to death or
profound disability, now can be
ameliorated using sophisticated surgical
reconstruction techniques, advanced
prostheses, and intensive rehabilitation.
Medical science already has
accomplished an extraordinary amount
in alleviating human illness and
forestalling death, and there is good
reason to expect further progress. Yet,
for all that science has made possible,
medicine is animated by other, less
tangible, forces.

extend our unique, human, biopsychosocial
capacities.

HOUSE_OVERSIGHT_021385
"
IMAGES-006-HOUSE_OVERSIGHT_020925.txt,"Effective Interest Rates: If Debt Levels & Interest Rates Rise Dramatically

Beyond 2010, Net Interest Payments Could Soar

USA Net Federal Debt Outstanding & As Percent of Total Revenue, 1980 — 2016E

1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013E 2016E

BG, ms ee em er — res ee se ea — ses es ca er — pees es ne aS es i 3 aS Soe — aS HS Soe aes eS Sl fk soe Ae 30%
am Net Interest Payment ($B)
$500 ISIS cs 5 mks ce 9 ms es Ts Hs Ses ect — saa Les ces ot — ee 5
——As % of Total Revenue 24%
g g
SE BAGG 2 tes ws ces — ces cate was ten — tee cas mts — ee es ls Hee ts en St — es ik ts — ti af ts = Pi
5 y =
>
e cw
(CI S01 8 a Ree ieee =
. 3
a
g 12% ©
foes |
3 $200 eA ac ce ma — esr cts oa es — as = | il Mena! > Sa i i + 3s
2 ”
C4
6%
$100 | BREET EEE ‘ie ]
$ ] T T T T T T T T T T T 0%

KP Note: CAGR is compound annual growth rate. Source: White House Office of Management and Budget.
(@)E) www.kpcb.com USA Inc. | Income Statement Drilldown 167

Rising Debt Periodic Large
Level & Interest One-Time
Payments Charges

Entitlement
Spending

Debt Composition

Note: *denotes F2010 net income / net loss of respective programs, data per White House OMB. 1) Medicare and Social Security net loss

excludes Trust Fund interest income. 2) TARP net loss includes proceeds from sale of warrants. TARP is Troubled Asset Relief Program; ARRA

KP is American Recovery & Reinvestment Act programs.
(@E) www.kpcb.com USA Inc. | Income Statement Drilldown 168

HOUSE_OVERSIGHT_020925
"
IMAGES-007-HOUSE_OVERSIGHT_023865.txt,"How to Teach the Twelve Cognitive Processes 1719

homes, cars, toys, games, lifestyles, behaviors, hairdos. . . . The list is
seemingly infinite.

We may not see ourselves as experimenting when we try out some-
thing new. We often experiment ineffectively. Learning to experiment
in a reasonable way is yet again something that can be done only
through experience. But, in this case, there really is an experimental
process to be learned. It can be taught early on by finding simple ex-
periments that small children really are interested in doing—they do
not all have to do the same ones since it doesn’t matter what they do.
They can learn to attempt to control the variables and see what hap-
pens in a variety of circumstances. This is, again, the scientific meth-
od, but the issue is really not teaching science so much as it is teaching
a scientific approach to gathering useful knowledge. What constitutes
evidence and how to draw conclusions are the kinds of things that a
teacher can help with. Here again, a case base is acquired and relied on
throughout this process. The discussion of findings so that they can be
mentally indexed is very important part of the process.

But how do we find out what is true? Ask any 5-year-old this
question and the answer is not very likely to be, We run an experi-
ment. Ask mommy, is more likely or, Ask the teacher, if the kid is in
school.

But, testing hypotheses is a critical part of learning to think. Of
course, one has to have a hypothesis first. Children are rarely asked
for their hypotheses about things. This is not exactly odd because al-
though children do have them, it is a weird kind of discussion to have
with a 5-year-old. Nevertheless, it is important to do. Teaching chil-
dren to form and test hypotheses is as simple as asking them to do it.
But, here again, asking them to do it must be done within the context
of something they really care about. There have been many attempts
over the course of educational history to teach kids science by having
them run experiments; sometimes they are asked simply to replicate
old experiments and sometimes they are asked to try new ideas out
and figure things out for themselves. While the latter is most certainly
preferable, these experiments tend to be about testing water quality,
or nutrients in the soil, subjects that are not exactly on the mind of a
5-year-old.

What is on the mind of a 5-year-old? He might be wondering
about how to deal with his baby sister. Or he might be wondering

HOUSE_OVERSIGHT_023865
"
IMAGES-004-HOUSE_OVERSIGHT_017978.txt,"Even from jail, Jeffrey Epstein manipulated the system | Miami Herald Page 15 of 17
Case 1:19-cv-03377 Document 1-1 Filed 04/16/19 Page 16 of 18

Nadia Marcinkova, now a professional pilot, worked for Jeffrey Epstein when he was molesting young women. Victims told police Marcinkova would participate in sex acts,
often as Epstein choreographed every move. Jerod Harris

In recent years, Epstein has been traveling the world in his new Gulfstream V jet. He has been active in various charitable causes and scientific research
projects. The Jeffrey Epstein VI Foundation, based in the U.S. Virgin Islands, has helped fund NeuroTV, an online network that features interviews with

academics and scientists.
Then and now
Both Nadia Marcinkova and Sarah Kellen changed their names after the scandal.

Marcinkova, 32, briefly became Marcinko. She visited Epstein more than 70 times when he was in Palm Beach custody. She went on to a career in real
estate. And she is now an FAA-certified commercial pilot and flight instructor who goes by the name “Global Girl” on social media.

(www.facebook.com/GlobalGirlAviation/)

https://www.miamiherald.com/news/local/article2 19494920 html 4/3/2019
HOUSE_OVERSIGHT_017978
"
IMAGES-011-HOUSE_OVERSIGHT_031469.txt,"From: Larry Summers aS

Sent: 5/21/2016 10:53:15 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: tomorrows news today

Importance: — High
Yup. Going to be ugly. Who will win?
Sent from my iPhone

Please direct all scheduling inquiries to my office at:

Follow me on twitter @lhsummers
www.larrysummers.com

On May 21, 2016, at 6:02 AM, jeffrey E. <jeevacation@gmail.com> wrote:

http://www. huffingtonpost.ca/2016/05/20/trump-bill-clinton-rape_n_10062090.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_031469
"
IMAGES-011-HOUSE_OVERSIGHT_030777.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 1/18/2018 2:44:02 PM
To: Michael Wolff aS
Subject: Re:

you and i as usual agree. - tell you more face to face. J an going to ask SB to sign your book

On Thu, Jan 18, 2018 at 9:42 AM, Michael Wolff (> wrote:
Yes, yes, that's their continuing resistance speaking. But that doesn't change the fact that it is their ONLY
option. AND it's a slam-dunk one. She would turn it around. If Dylan is coming out to speak publicly, Soon-Yi
also has to. If Dylan is allowed to be the center of this story, Woody is cooked. If Soon-Yi claims it--and she is
actually the center of the story--everything shifts and they can make it their own.

On Thu, Jan 18, 2018 at 9:37 AM, jeffrey E. <jeevacation@gmail.com> wrote:
not intellectually capable. . and frankly -unwiling. my shrink says ........

On Thu, Jan 18, 2018 at 9:32 AM, Michael Wolff {> wrote:

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 {i 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 (ii 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 (i 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:

HOUSE_OVERSIGHT_030777
"
IMAGES-008-HOUSE_OVERSIGHT_024829.txt,"COWEN
COLLABORATIVE INSIGHTS

February 25, 2019

Wide Range Of Returns On CBD

There is little data on economics for hemp CBD cultivation given wide range of outcomes
that can result on the seed vs clone decision (CBD levels vary for each and will impact
cost), as well as the type of production model used. The University of Kentucky (College
of Agriculture) recently published six budget models for industrial hemp producers. Four
of the six budgets address CBD hemp, with a separate budget for grain and another for
fiber. We highlight the University of Kentucky’s CBD Plasticulture budget model below
since it is the most profitable and will likely be the most commonly implemented. We
note all four of the CBD hemp models indicate a positive return above variable costs per
acre while hemp grain and hemp fiber do not reach breakeven due to low pricing for
both harvestable components.

University Of Kentucky’s Budget Assumptions For CBD Plasticulture:

e Dry matter yield per acre: UK estimates 1,200 Ibs of dry matter yield produced
per acre based on 1,500 plants per acre (recall 5 ft. 5ft. allows for up to 1,742
plant per acre) and 0.8 Ib of dry matter yield per plant (yield per plant can
range from 0.5 Ib-1.5 Ibs).

e Gross return per acre: CBD concentration and price per % are the factors that
determine the price of dry matter yield/Ib. In the below example, 6% CBD% *
$5.00 per % = $30/Ib. Gross return per acre is then calculated by multiplying
dry matter yield/lb by dry matter yield/acre (1,200).

e Variable cost per acre: 72% of variable cost per acre is for clone transplants for
1,500 plants at $5.00 each. Other notable costs include planting, plastic to
protect against weeds, drip line for water, harvesting costs, cash rent and
application/test fees. We note clones currently can range from $3.50-$5.50
per plant. Clones have become more common than seeds in Kentucky as they
offer an easy way to produce female plants. A seed mix may be cheaper but
would include male seeds than can potentially pollinate female seeds and
negatively impact CBD concentration which influences pricing for dry matter
yield. Feminized seeds are an option but will likely be the most expensive
option. We note that the model assumes outdoor production rather than
greenhouse production since a greenhouse is efficient for clone production
(then transplanted to the field) but prohibitive for plant production.

COWEN.COM

13

HOUSE_OVERSIGHT_024829
"
IMAGES-009-HOUSE_OVERSIGHT_027969.txt,"We had just a few hours to adapt the original plan. Although we’d trained in
close-quarters fighting for my plan to attack the officers’ club near Damascus,
we'd never had to use that skill in a live mission. Nor had we ever used the
Berettas. While we’d disguised ourselves as enemy soldiers or military police
on our intelligence operations, this would be the first time we were taking on
the persona of civilian engineers, with the need to fool armed terrorists on the
lookout for any sign of danger or betrayal. And for the first time in any of our
major operations, we would be operating in daytime.

Now that nearly all our soldiers and officers had arrived, I began arranging
the final line-up of attack teams. We would need six rather than four, since the
new plan would give us access to the front and rear doors. Danny now also told
me that a couple of the El Al technicians had shown him a way of climbing up
from inside the nose wheel into the cockpit. One of the toughest and strongest
of our soldiers, Uri Koren, had tried it successfully on the El Al 707. I told
Danny, Uri and another officer that they would be assigned to attack through the
front door and the nose wheel. I put Uzi Dayan in charge of the tail door. The
emergency doors above the wings, however, still gave us the quickest way in. I
planned to command the operation from the left of the aircraft, because both the
front and tail doors also faced that way. I entrusted Bibi Netanyahu and his team
with breaking in through the main wing door on the far side of the plane.

By noon, we got a further boost. With the resumption of incoming flights,
we began collecting air marshals. One in particular raised my confidence. I
knew Mordechai Rachamim well from the sayeret. He was a Yemeni Jew from
Elyakhin, the moshav near Mishmar Hasharon where Baddura and the other
Yemeni workers lived. He was tall, strong and athletic, naturally agile and quick
to respond in situations of danger. He was also no ordinary air marshal. In 1969,
he’d been posted on an El Al flight from Amsterdam to Tel Aviv. On a stopover
in Zurich, four gunmen from Fatah’s main radical rival in the PLO, the Popular
Front for the Liberation of Palestine, leapt out of a car, opened fire with AK-47s
and began throwing grenades. The PFLP assault injured four of the crew and
killed the co-pilot. Armed with his Beretta, Mordechai rushed to the cockpit
window and returned fire. Seeing the attackers were too far away, he slid down
the emergency chute. Once on the tarmac, he shot one of the terrorists in the
head and kept the rest of them at bay.

As additional air marshals arrived, I slotted each of them into an assault team
in place of one of our sayeret soldiers. The next to arrive was Marco Ashkenazi,
a Cairo-born veteran with whom I’d worked on a mission inside Egypt. I put

121
HOUSE_OVERSIGHT_027969
"
IMAGES-010-HOUSE_OVERSIGHT_028571.txt,"Cite as: 586 U.S. (2019) 13

BREYER, J., dissenting

1502.

Some of these organizations, including the International
Finance Corporation (IFC), themselves believe they do not
need broad immunity in commercial areas, and they have
waived it. See, e.g., Articles of Agreement of the Interna-
tional Finance Corporation, Art. 6, §8, Dec. 5, 1955, 7
U.S. T. 2214, 264 U. N. T. 8S. 118 Gmplemented by 22
U.S. C. §282g); see also 860 F. 3d 708, 706 (CADC 2017).
But today’s decision will affect them nonetheless. That is
because courts have long interpreted their waivers in a
manner that protects their core objectives. See, e.g.,
Mendaro v. World Bank, 717 F. 2d 610, 614-615 (CADC
1983). (This very case provides a good example. The D. C.
Circuit held below that the IFC’s waiver provision does not
cover petitioners’ claims because they “threaten the
[IFC’s] policy discretion.” See 860 F. 3d, at 708.) But
today’s decision exposes these organizations to potential
liability in all cases arising from their commercial activi-
ties, without regard to the scope of their waivers.

Under the majority’s interpretation, that broad exposure
to liability is at least a reasonable possibility. And that
being so, the interpretation undercuts Congress’ original
objectives and the expectations that it had when it enacted
the Immunities Act in 1945.

B

The majority’s opinion will have a further important
consequence—one that more clearly contradicts the stat-
ute’s objectives and overall scheme. It concerns the im-
portant goal of weeding out lawsuits that are likely bad or
harmful—those likely to produce rules of law that inter-
fere with an international organization’s public interest
tasks.

To understand its importance, consider again that in-
ternational organizations, unlike foreign nations, are
multilateral, with members from many different nations.

HOUSE_OVERSIGHT_028571
"
IMAGES-001-HOUSE_OVERSIGHT_011726.txt,"Yair Hirschfeld, and the historian and former Haaretz journalist Ron Pundak.
Three PLO officials were there, led by Arafat’s closest economic aide, Abu
Ala’a. Though both of the Israelis were friends of Yossi Beilin, a protégé of
Peres and our deputy foreign minister, even Peres didn’t know about the
meeting until Yossi told him the following day. Rabin knew an hour later. I first
learned of it from Uni Saguy, after Unit 8200 intercepted Arabic-language
traffic concerning a briefing the Norwegians had given their Arab contacts. At
first, even Peres was skeptical that the paper agreed at the “seminar” — calling
for international aid to the West Bank and Gaza on the scale of the Marshall
Plan, and an initial Israeli withdrawal limited to Gaza — would lead to serious
negotiations. But Rabin authorized follow-up sessions in mid-February, late
March and again in April. Our intelligence teams continued to provide detail,
and occasional color. Uri Saguy and I even began to use the Arabic shorthand,
from the intelligence reports, for the two Israeli academics. The burly, bearded
Yair Hirschfeld was “the bear”. The slighter Ron Pundak was “the mouse”. Yet
the main political impetus in driving the process forward came from two men
who were not there: on our side, Yossi Beilin, and for the Palestinians, Arafat’s
trusted diplomatic adviser, and eventual successor, Mahmoud Abbas, or Abu
Mazen.

Since Rabin knew I was following the ostensibly secret talks, we discussed
them often. For quite a while, he remained dismissive. He believed the chances
of a breakthrough were remote. He was also suspicious of the involvement of
Peres and Beilin, whom he called “Shimon’s poodle’. And he deeply distrusted
Arafat. The PLO had been founded with the aim of “liberating” every inch of
Palestine. The fact that Arafat had agreed to the Bush Administration’s demand
to accept the principle of land-for-peace struck Rabin as mere sleight-of-hand.

By the third Oslo meeting, it was clear that the Palestinians were open to an
agreement that would fall well short of “liberating Palestine”. Still, Rabin was
leery. He tried briefly to return the focus to the stalemated Madrid-track talks
with the Palestinians. Yet when, with obvious PLO encouragement, the
Palestinian negotiators stood their ground there, he seemed almost resigned to
supporting Oslo. When we discussed it, he used a battlefield metaphor. “When
you have to break through, you don’t necessarily know where you’ll succeed.
You try several places along the enemy’s lines. In the sector of the front where
you do succeed, you send in your other forces.” It was a matter of “reinforcing
success.”

255
HOUSE_OVERSIGHT_011726
"
IMAGES-002-HOUSE_OVERSIGHT_013389.txt,"841, 842 (Fla. 4"""" Dist. Ct. App. 1993) (quoting United States ex rel. Bilokumsky v. Tod, 263 U.S.

149, 153-154 (1923) (Brandeis, J.).

In the circumstances of this case, a reasonable finder of fact would have “evidence of the

most persuasive character” from Epstein’s repeated refusal to answer questions propounded to

him. To provide but a few examples, here are questions that Epstein refused to answer and the

reasonable inference that a reasonable finder of fact would draw:

Question not answered: “Specifically what are the allegations against you which
you contend Mr. Edwards ginned up?” Reasonable inference: No allegations
against Epstein were ginned up.

Question not answered: “Well, which of Mr. Edwards’ cases do you contend
were fabricated?” Reasonable inference: No cases filed by Edwards against
Epstein were fabricated.

Question not answered: “Did sexual assaults ever take place on a private airplane
on which you were a passenger?” Reasonable inference: Epstein was on a private
airplane while sexual assaults were taking place.

Question not answered: “How many minors have you procured for prostitution?”
Reasonable inference: Epstein has procured multiple minors for prostitution.

Question not answered: “Is there anything in L.M.’s Complaint that was filed
against you in September of 2008 which you contend to be false?” Reasonable
inference: Nothing in L.M.’s complaint filed in September of 2008 was false —
ie., as alleged in L.M.’s complaint, Epstein repeatedly sexually assaulted her
while she was a minor and she was entitled to substantial compensatory and
punitive damages as a result.

Question not answered: “I would like to know whether you ever had any physical
contact with the person referred to as Jane Doe in that [federal] complaint?”
Reasonable inference: Epstein had physical contact with minor Jane Doe as
alleged in her federal complaint.

Question not answered: “Did you ever have any physical contact with E.W.?”
Reasonable inference: Epstein had physical contact with minor E.W. as alleged in
her complaint.

Question not answered: “What is the actual value that you contend the claim of
20

HOUSE_OVERSIGHT_013389
"
IMAGES-011-HOUSE_OVERSIGHT_032160.txt,"the country’s productive and export sectors all but collapsed, there just wasn’t enough of the
foreign currencies in circulation.

“If you wanted to buy a packet of sweets for your child, you couldn’t get change,” said
Masiyiwa. Econet intervened with a mobile payments system which has set Zimbabwe on
course to become Africa’s first cashless economy. “Today 43 percent of the GDP moves
through Econet Wireless,” said the telecoms mogul. Explained Econet’s chief executive,
Douglas Mboweni , recently said: “We do not expect anyone to still be using paper money in
a year’s time. It will be just like Europe or America, where you no longer see people carrying
bundles of cash.”

Masiyiwa told the Guardian that his next challenge is to create a product that allows people
who are informally employed, such as smallholder farmers and casual workers, to access
credit. “In Africa 70 percent of people are informally employed,” he says. “The big frontier for
us is to create platforms where those people can access credit.” There is little risk that they
will get into unmanageable debt because the banks won’t extend excessive credit, calling
the system “self-regulating”.

“We're trying to build up a savings culture where people are encouraged to save, even if
they only have a dollar — for children’s school fees, for transport, for the doctor. A savings
and credit infrastructure builds resilience.” However, in order to reach the unbanked,
financial institutions — and telecommunications companies — must design services that are
practical, simple and affordable. “I’ve got a customer who has a dollar in his pocket and has
got to decide to have some lunch, call his cousin or go to the doctor,” he said.

“We have to develop services with sensitivity to the fact that in Africa our customers don’t
have the same disposable income as in New Zealand, for example.” It would however, be a
mistake to assume the poorest behave differently to other customers. “Their behaviour and
aspirations are no different from those who have higher incomes,” cautioned Masiyiwa.
“They want to use Facebook. They want to use WhatsApp. We have to find ways for them to
access those things with their very low income.”

The UK Guardian 19-08-2014

- Will Zimbabwe be Africa’s first cashless society? Telecommunications company, and now
mobile banking service, Econet Wireless predicts that in less than 12 months notes and
coins will be long-gone from this southern African country. “We do not expect anyone to still
be using paper money in a year’s time,” the company’s CEO Douglas Mboweni recently
said. “It will be just like Europe or America, where you no longer see people carrying bundles
of cash.” The collapse of Zimbabwe’s economy in 2002 paved the way for Econet Wireless’s
mobile payment system. “Hyperinflation had destroyed people’s confidence in financial
institutions,” said the Zimbabwe company’s founder, Strive Masiyiwa, at the Mastercard
Foundation Symposium on Financial Inclusion in July.

“The lowest denomination circulating was $1,” Masiyiwa said. “If you want to buy a packet of
sweets for your child, you can’t get change.” The company set up a mobile payment system
that handles small amounts and allows people to save as little as $1. “Today 43% of the
GDP moves through Econet Wireless,” he concludes. Masiyiwa was born in Zimbabawe
(then Rhodesia) in 1961. He and his parents fled the country in the turmoil after prime
minister lan Smith declared independence in 1965, settling in Zambia. His parents, who ran
their own business, could afford to send Masiyiwa to school in Scotland when he was 12.
After school he studied electronic engineering at the University of Wales and worked briefly
for a computer company in Cambridge before returning to Zimbabwe in the early 1980s.

HOUSE_OVERSIGHT_032160
"
TEXT-002-HOUSE_OVERSIGHT_032710.txt,"From: anasalrasheed______________ 
Sent: 1/8/2018 6:27:13 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
m traveling to see terry and antonio in dubai and bahrain .. wish you were here .. weather is greatc14 
Sent from my iPhone 
On Jan 3, 2018, at 9:05 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
http://nymag.com/daily/intelligencer/2018/01/michael-wolff-fire-and-fury-book-donald-trump.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 032710 
"
IMAGES-002-HOUSE_OVERSIGHT_013362.txt,"DEFENDANT BRADLEY J. EDWARDS'S STATEMENT OF UNDISPUTED FACTS
Epstein v. Edwards, et al.
Case No.: 50 2009 CA 040800XXXXMBAG

HOUSE_OVERSIGHT_013362
"
IMAGES-006-HOUSE_OVERSIGHT_022101.txt,"Fir

me personally in that area.
home in Palm Beach on E].
_5. From the first time .
that day, his motivations ¢
Maxwell’s. My father was
| up some stairs. There was ¢
; | in the room. Epstein and
CHAPTER 34 © . activity with Epstein. I we
seemed to be in his 40s or 5
home by one of Epstein’s em
6. I came back for sev.
same sorts of sexual things j

Declaration of Virginia Roberts Giuffre: January 19, 4 P 7. After I did those things
2015, filed on January 19, 2015 by attorneys - they were going to have me tr
representing Jeffrey Epstein's victims : cation for me. They were pro

travel with Epstein on his pri
fession. Epstein said he woul

1. My name is Virginia Giuffre and I was born in August, 2 B wealthy person so that I woul
2, oe 8. So I started “working”
an ow New York on his bi
2. 1am currently 31 years old. . ; ne to ew ‘Yor on is big, }
3. I grew up in Palm Beach, Florida. When I was little, I 3 4 sion in New York City. I was
loved animals and wanted to be a veterinarian. ou my life q | rious oom The nah we
took a very different turn when adults —including Jeffrey 4 : got scared because it was si
Epstein and his close friend Alan Dershowitz— began to be 4 j room nih a masige par
interested in having sex with me. 4 sexual activities with him the
4. In approximately 1999, when I was 15 years old, I met 4 P 9. You can see how you
Ghislaine Maxwell. She is the daughter of Robert Maxwell, . q below [see insert page 3].
who had been a wealthy publisher in Britain. Maxwell asked i 4 10. Epstein took me on a;
that I come with her to Jeffrey Epstein’s mansion for the pur- § | New York City and there he
poses of teaching me how to perform “massages” and to train i | “proximately 15 or 16 years
134 j | 1

HOUSE_OVERSIGHT_022101
"
TEXT-001-HOUSE_OVERSIGHT_029605.txt,"From: 
Sent: 12/12/2018 5:44:32 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 
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 Renata B wrote: 
Woow0 
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 
Sincerely 
HOUSE OVERSIGHT 029605 
"
IMAGES-001-HOUSE_OVERSIGHT_011915.txt,"another example of a false link between Epstein and Plaintiffs, costing Plaintiffs’ business
income.

14. A fourth example of a lost business relationship can be found in a second e-mail dated
October 17, 2014 (Exhibit D attached). Manuela Martinez of Mega Partners, a Brazilian
modeling agency, states to Plaintiff Brunel that her agency has been unable to work with Plaintiff
MC2 for the past five to six years because of the sex trafficking allegations against Plaintiffs .
This reference is clearly to the false allegations online regarding sex trafficking that were based
in the false link between Epstein and Plaintiffs.

15. A fifth example of a lost business relationship can be found in an e-mail dated

on Plaintiff's behalf was an e-mail dated August 27, 2010 from Michelle Stockman of Agence
France Presse. (Exhibit E attached). Agence France Presse is a newswire service with a world-
wide reach. Stockman wanted to meet with Plaintiff Brunel to arrange a model shoot with MC2.
However, due to the adverse publicity surrounding Plaintiffs as a result of Epstein’s illegal
activities, Plaintiff Brunel was forced to forego (and lose) this business opportunity because he
needed to keep a low-profile at this time.

i6. A sixth example of lost business due to Epstein’s intentional and illegal activities can be
found in an e-mail dated December 12, 2014. (Exhibit F attached). Michael Sanka, a talent
scout who had worked with Plaintiffs for a number of years, informed Plaintiff Brunel that he
cannot sign any new models for Plaintiff Brunel’s MC2 agency due to the false sex trafficking
allegations online. Sanka goes on to state that Plaintiff Brunel’s MC2 agency will not attract any
new models if Plaintiff Brunel does not clear up the false allegations.

17. | A seventh example of lost business due to Epstein’s intentional and illegal activities can

be found in an e-mail from Fox Fashion Agency (Exhibit G attached). This e-mail clearly states

HOUSE_OVERSIGHT_011915
"
IMAGES-010-HOUSE_OVERSIGHT_029684.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 1/29/2013 12:06:15 PM
To: Mohamed Waheed [x |
Subject: Re:

can we speak today, ?

On Sun, Jan 27, 2013 at 12:33 AM, Mohamed Waheed <q wrote:
Thank you. You are my savior. I will do exactly what you said.

Sent from my iPhone

On Jan 27, 2013, at 9:29 AM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

this from a fraud web site, your mimister will get upset that you dont want to at least try, what do we have to
lose , always the pitch. THe following from the fraud site. --The essential fact in all advance-fee fraud
operations is that the promised money transfer never happens—because the money does not exist. The
perpetrators rely on the fact that, by the time the victim realizes this (often only after being confronted by a
third party who has noticed the transactions or conversation and recognized the scam), the victim may have
sent thousands of dollars of their own money, and sometimes thousands or millions more that has been
borrowed or stolen, to the scammer via an untraceable and/or irreversible means such as wire

transfer.“*!_ Stay away, however if you want to embarass your possible opponent , you might set it up so that
he looks like a fool, ask for amemo of why he thinks you should agree , have it include as many detials as
possible, so that when you prove its a fraud,, you will make him look very silly as opposed to his saying , you
missed an opportunity, anyway,, glad you are well

On Sat, Jan 26, 2013 at 10:49 PM, Mohamed Waheed Hassan wrote:
Jeffrey,
Need your advice.
My finance minister is telling me that he has an anonymous funds manager who is willing to deposit 4 billion
dollars in Maldives and that they are willing to lend a percentage of that in exchange for government
promissory notes. The 4 billion would be deposited in the Central Bank. But they want us to set up a special
purpose vehicle, a construction company fully owned by the government to receive the loan. Such a company
can only be set up under a presidential decree.

I am also told that the funds manager would be charging Maldives upfront a certain percentage of the amount
lent.

I don't feel I have enough information on this. I don't know who is this funds manager. They always want the
finance minister to meet them in Bangkok or some place outside. Why would anyone want to deposit such a
large amount here when we don't have a credit rating and public debt is so high. I feel very uncomfortable
about this.

What do you think I should do. Iam very uncomfortable. In addition to the finance minister, a leading
politician and leader of the coalition parliamentary group is behind it. He could be my leading contender for
presidency.

Does this sound all ridiculous to you. I have a strange feeling about this whole thing.

Best regards
Waheed

HOUSE_OVERSIGHT_029684
"
IMAGES-006-HOUSE_OVERSIGHT_020716.txt,"#18 Greta Garbo

Image source: yuyamika7

#19 Taylor Swift

HOUSE_OVERSIGHT_020716
"
IMAGES-007-HOUSE_OVERSIGHT_024139.txt,"Cross-asset preferences

Fixed income

Commodities

3, UBS

Most preferred

e US

© Western winners from EM
growth

® High quality dividend yields

e Event-driven and relative value
hedge funds

® Natural gas growth gainers

e US high yield

© Global investment grade credit

e Event-driven and relative value
hedge funds

e EM corporate bonds

e USD
© GBP
e CAD

Least preferred

® Europe

® Developed market
government bonds

° CHF
° EUR

e Agriculture
e Energy

A Recent upgrades y Recent downgrades

Portfolio weights

Commodities
3% Liquidity
Real Estate 10%
5% High Grade
q Bonds

6%

Hedge Funds /
Private Equity
10%

Inv Grade

\ Corporates
Equities USA | Bonds
10% \ 9%
a High Yield

Bonds
6%

Emerging
. Markets Bonds
Equities
6%
Europe
20% Equities Other
9%

EmMa Equities
6%

Note: Portfolio weights are for an advisory
client with a ""EUR moderate"" profile. For
portfolio weights related to other risk profiles
please contact your client advisor.

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_024139
"
IMAGES-008-HOUSE_OVERSIGHT_025504.txt,"Is Invitation: No

GUID: 21F2EA84-7EDF-4D91-807E-COE49F8E57F6

Message: Which ones

Sender: e:jeeitunes@gmail.com

Time: 06/10/19 04:20:52 AM (581858452)
Flags: 1150981

Is Read: No

Is Invitation: No

r,

GUID: BC281BA0-482F-400E-987D-DBA32B22D3A6

Message: The last two from two weeks ago . thefilms you shot in my house. - we can
do tomorrow from 3 pm

sender:

Time: 06/10/19 04:21:35 AM (581858495)

Flags: 1126401
Is Read: Yes

Is Invitation: No

GUID: A26AEC4D-D402-4CF4-808D-32C3E774E27A

Message: Yes yes yes your interviews yes , they were great will get to u today

Sender:

Time: 06/10/19 07:31:16 AM (581869876)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: FCO155BB-8BF3-4157-A21A-AC80E9506998

Message: Can we make this deal today so I can pull my crew off other stuff they are
working on and get this thing done -- we are burning daylight

Sender: e:jeeitunes@gmail.com

Time: 06/10/19 07:59:59 AM (581871599)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: FD40C6A1-81A0-4034-8A52-86578D1D80CA

Message: YEs. Do you have a lawyer . ? we need to document past and future, all
needs surgical care.

Time: 06/10/19 08:06:05 AM (581871965)
Flags: 1060865
Is Read: Yes

Is Invitation: No

HOUSE_OVERSIGHT_025504
"
IMAGES-007-HOUSE_OVERSIGHT_023656.txt,"will become some state-owned companies, what is the reality of the privatization of the health sector,
and how it will be, and other important sectors?

- The health sector is privatized in all the successful globally countries. If we look at the United States for
example, we do not find the US government owns hospitals, each hospital either owned by the private
sector or non-profit sector. The role of the government is to guarantees a free treatment for Saudi
citizens. Instead of we occupy a hospital and we spend on them and come at a quality that will be
rejected by the citizen, we privatize and owned by companies and ensure the policy of insurance for
every citizen. And the citizen has the choice of selecting the hospital which he wants to get the
treatment in, whether private sector or non-profit sector. This will bring great competition to all private
hospitals and provide quality services so that they attract this citizen who has an insurance policy and
earn more profits, and it will create a better health sector with better services and much less corruption.
Because it became some interests among stakeholders and it will ease the very high load of
management for the Saudi government. It will also reduce the costs that the Saudi government spend
on the health sector, while these expenses will be spent in other sectors that are in need for these
expenses.

* When does this wheel start?
- It is a very complex project, we expect that things will be clearer during the current year.
* What are the other sectors that can be privatized in the near future?

- The municipal services sector, also the transport sector, primarily airports, aviation and ports. Those
are the main sectors that we are targeting at this stage.

* In the subject of vision, your Highness has mentioned that there will be an increase in the number of
those wishing to perform Umrah and Hajj through the preparation of the two Holy Mosques and its
facilitation. But Muslims in Pakistan, for example, or from other countries or Muslims residing here,
believe that the fees will affect so that the turnout will be decreased, and instead of having a person four
times of Umrah a year, he will perform it one time?

- This is an incorrect propaganda, and we know who is behind it, which is a loathing of Saudi Arabia. It
hates the interests of Saudi Arabia in one way or another and tries to seize any opportunity to alienate
the Muslim peoples from Saudi Arabia. First, before this decision, there were a fee for Hajj and Umrah of
50 Saudi riyals, even for who come for the first time should pay 50 riyals on the visas of Hajj and Umrah.
This decision is not targeting the visas of Hajj and Umrah, but targets all visas of the Saudi government
and to unite its price at one price. As awareness from the Saudi Government, in order to serve hajjis and
pilgrims, the first Hajj and the first Umrah of any Muslim were paid at the expense of the government. If
there is a Muslim wants to make the first pilgrimage, he will not pay the value of the visa, and the Saudi
government will pay the visa. Also, if there is a Muslim wants to make the first Umrah, the Saudi
government will pay the fees of the visa. But for those who are coming again for the second or third
time, he firstly drains the Saudi economy and we served for the free first time. Secondly, he takes the
place of a citizen in various Islamic countries wants to come for Hajj and Umrah.

* A minister has been exempted because of overrides and the abuse of power. Is this decision is for a
activating the authority of corruption?

HOUSE_OVERSIGHT_023656
"
IMAGES-009-HOUSE_OVERSIGHT_027982.txt,"German government released them to meet the demands of the hijackers of a
Lufthansa airliner the following month.

Added to Israeli public’s shock over the massacre, there was anger at having
to watch the murderers go free. In the weeks afterwards, I got occasional hints
that a sustained Israeli response was underway, though I didn’t know the details.
I was not aware that it was Ahrahle, at the direction of Golda herself, who was
co-ordinating it. Nor that a special Mossad team was at the center of the
operation. Yet from news reports of a series of attacks on suspected leaders of
Black September, I, and most Israelis, assumed we were determined to convey a
message which the Germans had not: that terror killings of the sort perpetrated
in Munich would not go unanswered.

It was not until late 1972 that I knew the full scale of the operation. We had
no formal ties with the Mossad, but our intelligence work occasionally
overlapped. In mid-December, the sayeret’s intelligence liaison was approached
with a “theoretical question” by a couple of guys from the Mossad. Did we have
the capability to attack three separate flats in a pair of apartment buildings in
Beirut. I sent back my preliminary answer a few days later. I said it was
possible. But there was no way I could say for sure without more information.
Would the people in the apartments be armed? Were there guards outside? Was
there a caretaker or concierge? Was there only one way in to the buildings, or
also rear entrances? Would we be able to get a plan of the interior of the
apartments?

In another month, they came up with most of the answers. The buildings
were fairly new, with glassed-in lobby areas and concierges. The Mossad men
also gave us a fairly detailed layout of two of the three apartments. They did not
know whether there were back entrances. They thought it was likely there were
bodyguards, or at least some security detail posted outside. As for the people
living in the apartments, all of them were likely to have at least small arms.

Over the next week or so, we raised a series of other questions. Mainly, I
wanted to know whether they were sure the people we’d be looking for would
be at home. The Mossad officers said they were working on that, but were
confident of being able to confirm this before any operation happened. Though
they didn’t identify the people they were targeting, I had now learned, through
Ahrahle and others, what had been pretty obvious since the Mossad’s initial
approach. They were Palestinian leaders with ties to Black September. “I think
it’s possible,” I finally told them. ““We’ll put a plan in place. We can finalize the
arrangements if you come back and say you want us to do it.”

134
HOUSE_OVERSIGHT_027982
"
TEXT-001-HOUSE_OVERSIGHT_022988.txt,﻿
IMAGES-011-HOUSE_OVERSIGHT_030944.txt,"Grau Snith080168*eMailContent.htm

Las Olas City Centre, Bank America Building
401 East Las Olas Boulevard
Suite 1650

Fort Lauderdale, FL 33301

file:///Cl/Documents%20and%20Settings/Trial/Desktop/E...uction/eDocs/eMail/Grant_Smith080168eMailContent.htm (5 of 5) [1 1/6/2010 10:16:53 PM]

14544

HOUSE_OVERSIGHT_030944
"
IMAGES-007-HOUSE_OVERSIGHT_022548.txt,"The FCPA:

Accounting Provisions

46

HOUSE_OVERSIGHT_022548
"
IMAGES-006-HOUSE_OVERSIGHT_021408.txt,"Sent: 12/11/2017 6:53:37 AM

To: Nancy Portland

cc: Lawrence Krauss

Subject: Re: URGENT: BuzzFeed News inquiry re allegations of sexual harassment

Attachments: DA866543-7401-4A5A-8E50-FD32E33A50EC.png

Importance: — High

a few more minor changes.. one in first line of second paragraph and one misspelling corrected..so you can read
this one:

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

Origins Office Coe

PS

origins.asu.edu | twitter.com/Ikrauss1 | krauss.faculty.asu.edu

- - =
RS Origins
PE@IECT

ARIZONA STATE UNIVERSITY

On Dec 10, 2017, at 10:31 PM, Lawrence Krauss a wrote:

Second Draft:

| appreciate the opportunity to respond to your email. While | am running the risk that you will report my comments, if you do, either out
of context, or incompletely, | am responding with an effort to be complete. It is hard to know how to respond to a list of false and/or
distorted allegations, along with misleading statements on your part. | treat people | interact with with respect, and | work hard to
support and mentor students, colleagues, and members of the general public. | do not sexually harass people. If the purpose of your
reporting is to somehow argue 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 | have remained a professor in all Universities with which | 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. | 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 | have a history of harassment, that too is

false. As noted in one of your 'miscellaneous facts’, as a scientist | try and remain skeptical, and rely on empirical evidence, rather than
allegations and innuendo. | 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.

The items you list are false or distorted. Item 1 refers falsely and inaccurately 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 there were respectful
and platonic encounters afterwards. There is nothing to comment on in item 3, which involves an anonymous 3rd party claim because |
know nothing about it, there are no details provided, and it clearly was not taken seriously enough to result in any university

action. Item 4 is confusing. Are you saying that because | decided | didn’t want to go out to a bar with a group of attendees that | was
harassing them? The second part did not happen. 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 | wrote at the time in response to the blog in question, causing it to be taken down.

It is worth responding to Item 2 and 6 in more detail,

HOUSE_OVERSIGHT_021408
"
IMAGES-009-HOUSE_OVERSIGHT_028469.txt,"signup.html?partner=applenewséad

keywords=APPLEMOBILE&region=written throughé&asset_id=100000006108935"", ""range™: {""length""
:l1,""start"":44},""type™:""link""}],""identifier"":"" anf-body-

3"",""inlineTextStyles"": [{""range"":{""length"":57, ""start"":0},""textsStyle"":"" anf-ts-

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100""}, {""range™: {""length"":57,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"", ""text"":""(Want to get this briefing by email? Heread€™s the sign-
up.)"", ""type"": ""text""}, {""identifier"":"" anf-body-

4"",""inlineTextStyles"": [{""range"":{""length"":136,""start"":0},""textStyle"":"" anf-ts-
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100""}, {""range""™:{""length"":136,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-—
body"", ""role"": ""body"", ""text"":""Good morning. Kavanaughaé€™s accuser agrees to testify,
pressure mounts for a second Brexit referendum and Comcast outbids Disney for Sky.
"",""type™:""text""}, {""identifier"":"" anf-body-

5"", ""inlineTextStyles"":[{""range"":{""length"":18, ""start"":0},""textsStyle"":"" anf-ts-

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100""}, {""range""™:{""length"":18,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"": ""body"", ""text"":""Hereae™s the

latest:"", ""type"": ""text ""},{""components"": [{""caption"":"" Erin Schaff for The New York
Times"", ""captionComponent"":{""text"":"" Erin Schaff for The New York

Times""},""identifier™:""100000006123018 Sba868d80abbi"", ""imageIdentifier"":""88614cd2cabe2de
6b9630a05e0dETc7e"", ""Layout"": ""fullbleed-

image"", ""role"":""photo"", ""type"": ""scalable image""}, {""identifier"":"" anf-caption-

i"", ""inlineTextStyles"": [{""range"":{""length"":35, ""start "":0},""textStyle"":""photo-
credit""}],""layout"":""default-caption"", ""role"": ""caption"", ""text"":"" Erin Schaff for The New
York Times "",""type"":""text""}],""identifier"":"" anf-container-1"", ""layout"": ""image-
container"", ""role"":""container"", ""type"":""container""}, {""identifier"":"" anf-body-
6"",""inlineTextStyles"":[{""range"":{""length"":42,""start"":0},""textStyle"":"" anf-ts-

100""}, {""range""™:{""length"":42,""start"":0},""textStyle"":"" anf-ts-

100""}, {""fange""™:{""length"":40, ""start"":2},""textStyle™:"" anft-ts-

10""}, {""range"":{""length"":2,""start"":0},""textStyle""™:"" anf-ts-10""}],""layout"":""default—
body"", ""role"": ""body"", ""text"":""ae¢ Christine Blasey Ford agrees to

testify."", ""type™:""text""}, {""additions"": [{""URL"":""https://apple.news/ASDpblvcRQemxX7gbpw9LQ
Yg"", ""range"": {""length"":45, ""start"":145},""type"":""link""}],""identifier"":"" anf-body-
7"",""inlineTextStyles"": [{""range""™:{""length"":235,""start"":0},""textStyle"":"" anf-ts-

100""}, {""range™: {""length"":235,""start"":0},""textStyle"":""_anf-ts-100""}],""layout"":""default-—
body"", ""role"":""body"", ""text"":""Dr. Blasey, who accused the Supreme Court nominee Judge

Brett Kavanaugh, above, of sexual assault, reached a final agreement over the weekend
to testify before a Senate committee on Thursday, although some details need to be
finalized."",""type"":""text""}, {""additions"": [{""URL"":""https://apple.news/AbploFfjDTgeCtnEjuq
9rvA"", ""range"": {""length"":28, ""start"":91},""type"":""link""}, {""URL"":""https://apple.news/AyWjf _
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body"", ""role"":""body"",""text"":""It is likely to be an explosive episode that could
complicate Mr. Kavanaughad€™s confirmation as well as midterm elections by potentially
rousing female voters and independents who otherwise might have cared little about the
confirmation fight. The judged€™s prospects were further clouded on Sunday when The New
Yorker reported on a new allegation of sexual
impropriety."", ""type"": ""text""}, {""additions"": [{""URL"":""https://apple.news/AdHolAGpBRiCpAYZt
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body"", ""role"":""body"", ""text"":""Separately, the deputy attorney general, Rod Rosenstein,
suggested secretly recording President Trump last year to expose the chaos inside the
White House and even discussed recruiting cabinet members to invoke the 25th Amendment
to remove the president from

office."", ""type"": ""text""},{""bannerType"": ""any"", ""Identifier"":
i"", ""layout"": ""ComponentLayout-—

W

_anf-banner advertisement

10"",""role"":""banner advertisement"", ""type"": ""banner advertisement""}, {""additions""™:[{""URL""™:""
https://apple.news/AD-UfZP6

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HOUSE_OVERSIGHT_028469
"
IMAGES-011-HOUSE_OVERSIGHT_031482.txt,"“The bluster, the conspiracy theories, and the threats of Mr. Erdogan are not strong enough to overwhelm the
American legal system,” he added. “And for that reason we believe that Mr. Gulen should not and will not be

extradited.’’

Mr. Weingarten said the chances that his client helped plot a coup from his base in the Poconos is “about as

likely” as a meteor striking the lawyer’s office while he was speaking.

Write to Devlin Barrett at devlin.barrett@wsj.com

From: Keough, Michael
Sent: Friday, August 05, 2016 1:28 PM

To: Will Bohlen i E>; King, Kathryn >: Miller, Michael
<>; Katelyn Wohlford >; Y. Alp Aslandogan
<>; WV eingarten, re = =6hel Remzi Kulen i
Weinstein, Jason {i ; Osman Oz. (iE: David Marin
ee > 10 Cilings <a E; Drake, William
Cc: Eliopoulos, Steven iii! >

Subject: RE: Audio recording

USA TODAY and Al Arabiya as well:

http://www.usatoday.com/story/news/world/2016/08/05/cleric-extradition-turkey-coup/88288220/

http://english.alarabiya.net/en/News/middle-east/2016/08/05/US-evaluating-new-Turkish-documents-on-Gulen.html

Michael A. Keough

Associate

Steptoe
Steptoe & Johnson LLP
1114 Avenue of the Americas | New York, NY 10036

www.steptoe.com

This message and any attached documents contain information from the law firm Steptoe & Johnson LLP that may be confidential and/or privileged. If you are not the
intended recipient, please do not read, copy, distribute, or use this information. If you have received this transmission in error, please notify the sender immediately by
reply e-mail and then delete this message.

From: Will Bohlen [mailtc [ii

Sent: Friday, August 05, 2016 1:27 PM

HOUSE_OVERSIGHT_031482
"
IMAGES-004-HOUSE_OVERSIGHT_017993.txt,"attieO18 Case 1:19-t- 036 Frio boca mierrrctesed PeerO4)/ POfPO! | Peaigwasi fingon

Letters

Letter to the Editor: Article
Misrepresented Dershowitz

fyvyZaem

2

By Alan M. Dershowitz
Alan M. Dershowitz is a Professor of Law emeritus at Harvard Law School.

December 5, 2018
To the editor,

The Crimson story regarding Jeffrey Epstein omitted the central point I made in my interview
with the reporter. I welcome an investigation by Harvard or any other institution, including
prosecutors, into the wilfully false charges made by Virginia Roberts for financial gain. Omitting
this crucial statement is irresponsible and unethical journalism.

Virginia Roberts leveled her false accusations four years ago. At the time, I disproved them
categorically. The matter was put to rest, with even her lawyers admitting that it was a mistake
and wrong. Then four years later the Miami Herald recycled this false accusation and The
Crimson reported on the Herald’s recycled report. I wrote a letter to the editor of the Herald
pointing to the incontrovertible evidence that Roberts made up the accusation out of whole

cloth in order to obtain millions of dollars from Leslie Wexner.

I was able to disprove Roberts’ false accusation by producing all of my travel, AmEx, and TV
appearance records which showed where I was, and, more importantly, where I wasn’t during
the entire period Virginia Roberts was in contact with Jeffrey Epstein. These records prove
incontrovertibly that I could not have been, and was not, where Roberts’ falsely claimed to have
met me — a Caribbean Island, a New Mexico Ranch, a private jet, a Palm Beach mansion —

during the relevant time period.

I also called for an independent investigation by the former Director of the F.B.I., a highly
respected former federal judge and assistant U.S. attorney. He reviewed all of the records and
other evidence and concluded that “the totality of the evidence ... refutes the allegations.”

httns:/Awww thecrimson com/article/2018/12/5/letter-dershowit7-misrenresention/ 1/9

HOUSE_OVERSIGHT_017993
"
IMAGES-003-HOUSE_OVERSIGHT_014722.txt,"Concerns over stagflation return

On the surface, this has been an uneventful year for the US rates market so far. At the
start of January, the market was pricing two Fed hikes for the year. Six weeks later, the
market is still pricing only two Fed hikes for the year. The yield on the bellwether 10y
US Treasuries started the year at 2.44%. Six weeks later, it is at 2.41%, unchanged for
all practical purposes.

As usual, the surface view is deceiving. The seeming collapse in volatility belies the
dramatic changes in the composition and term structure of rates. Since the December
FOMC meeting, real yields and inflation breakevens have diverged in remarkable fashion.
Year to date, 5y real yields have declined by 16bp while 5y inflation breakevens have
risen by 12bp (Chart 1); the 5s-30s real curve is 1O0bp steeper while the breakeven curve
is 10bp flatter.

Chart 1: 5y real yields and 5y inflation breakevens (%)
2.5

2
1.5
1
0.5
0
0.5

10/1/2016 10/26/2016 += 11/20/2016 += 12/15/2016 + —1/9/2017 2/3/2017

= 5y real yields (%) = ===~=5y infl BE (%)
Source: BofA Merrill Lynch Global Research

The effect of the divergence between real yields and inflation breakevens has been felt
across financial markets. For example, the USD, which trades with real rather than
nominal yields, has declined in tandem with real yields (Chart 2). In contrast, gold, which
usually thrives on inflation concerns, has been surging lately.

Chart 2: DXY and 5y real yields (%) Chart 3: 5y real yields versus 5y inflation breakevens (%)
104 0.3 4
103 0.2
102 01 3
101 0 2
""0 4 { E1
2 OT QE3
98 Oe 0
o7 -0.3
96 -0.4 “1
95 -0.5 -2
94 -0.6 3

10/1/2016 = 11/1/2016 §= 12/1/2016 ~— 1/1/2017 2/1/2017

3/1/2009 3/1/2010

3/1/2011 3/1/2012 3/1/2013

a==———DXY (LHS) = ===5y real yields (RHS) a= 5y real yields (%) = ====5y infl BE (%)

Source: BofA Merrill Lynch Global Research Source: BofA Merrill Lynch Global Research

We have seen price action like this before. Indeed, it was quite common during the QE
period (Chart 3). However, QE is neither on the horizon nor on investors’ minds right
now. So what is really going on? Under normal circumstances, inflation breakevens are a
reflection of investors’ inflation expectations while real yields a proxy for their growth

2 Cause and Effect | 13 February 2017

BankofAmerica <2”
Merrill Lynch

HOUSE_OVERSIGHT_014722
"
IMAGES-008-HOUSE_OVERSIGHT_025262.txt,"Eurozone equities

Preference: neutral

Euro Stoxx (24 Oct): 247 (last publication: 247)
UBS View Euro Stoxx (6-month target): 249

¢ We keep our neutral stance on Eurozone equities. While the sovereign debt crisis remains a risk factor
(see slide 8), the conditional bond buying program by the ECB (OMT) and the introduction of the ESM have
significantly reduced downside risks.

¢ Near-term we might see volatility increasing as politicians wrangle about the steps needed to provide a
more lasting solution to the debt crisis (setup of a single banking regulator, solving the banking related
problems in Spain, etc. ). We think that attractive valuations sufficiently compensate for those risks.

¢ The weak economic environment with recessions in the southern countries continues to weigh on
corporate earnings. Consensus expectations (bottom up) of about 10% to 15% earnings growth in 2013 is
too high, in our view. In contrast, we forecast just about 3-5% earnings growth next year.

4 Positive scenario Euro Stoxx (6-month target): 320
¢ Global economic growth reaccelerates and Eurozone growth shows clear signs of bottoming out,
enabling mid-single-digit earnings growth over the next six months. The trailing P/E ratio could re-rate to
about 14.5x from its current reading of about 11.7x.

Negative scenario Euro Stoxx (6-month target): 200
¢ The debt crisis leads to renewed pressure on Spain and Italy. However, downside risks are expected to be
less severe now, after the ECB has put its new bond-buying program in place.

¢ Earnings could fall about 5% to 10% from current levels over the coming six months, and the trailing P/E
ratio could drop to a level around 10x over a six-month period.

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 Nov, final PMI manufacturing,
EMU; 6 Nov, final PMI services EMU; 22 Nov, flash PMI manufacturing,
EMU, France and Germany; 23 Nov, Ifo business sentiment index,
Germany

Policy action Decisions by European politicians and the ECB affect the course of the debt crisis.

Key dates: 8 Nov, ECB meeting

2 UBS

Recommendations

Tactical (6 months)

e We continue to recommend defensive
sectors like Consumer Staples and
Healthcare. We also like the Energy
sector.

e We are negative on Industrials and
Consumer Discretionary as industry
sentiment remains subdued.

e We remain cautious on Financials -
especially Banks and diversified
Financials. The need for recapitalization
remains a major concern.

Strategic (1 to 2 years)

e We have a preference for stocks paying
high-quality dividends.

e We like companies with high exposure
to rapidly growing emerging markets.

Our sector stance in the Eurozone
Sectors Eurozone
Consumer Discretionary
Consumer Staples
Energy
Financials
Healthcare
ndustrials
7

aterials
Telecom
Utilities

Vielvi Viel ule; ulale

Source: UBS

Note: Past performance is not an indication of future returns.

For further information please contact ClO's asset class specialist Markus Irngartinger, markus.irngartinger@ubs.com 's

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_025262
"
IMAGES-007-HOUSE_OVERSIGHT_023130.txt,"The Herald’s series quoted a trove of letters and emails between prosecutors and
Epstein’s defense team that showed that Epstein’s lawyers were allowed to dictate
the terms of each deal that they drew up, and prosecutors repeatedly backed down
on deadlines. The lead prosecutor, Marie Villafafia, amid the negotiations wrote to
Epstein lawyer Jay Lefkowitz: “I thought we had worked very well together in
resolving this dispute. ... I feel that I bent over backwards to keep in mind the effect
that the agreement would have on Mr. Epstein.”

Where are they now? The biggest players in the Jeffrey Epstein case

The girls who were abused by Jeffrey Epstein and the cops who championed their
cause remain angry over what they regard as a gross injustice, while Epstein's
employees and those who engineered his non-prosecution agreement have
prospered.

The email chain also shows that prosecutors sometimes communicated with the
defense team using private emails, and that their correspondence referenced
discussions that they wanted to have by phone or in person so that there would be
no paper trail, the Herald found. At one point, Acosta met privately with Lefkowitz,
who came from the same Washington, D.C.-based law firm, at a Marriott hotel in
West Palm Beach, the emails showed. It was at that meeting, the records show,
when Acosta agreed to keep the deal secret.

The correspondences also show that Sloman sought several times to have Epstein’s
victims notified about the deal, as required under the Crime Victims Rights Act. But
after Epstein’s lawyers aggressively objected and appealed to Acosta, it never
happened.

Sloman, however, insisted that Epstein’s lawyers’ aggressive defense had no bearing
on the office’s decision to set aside what court records show was a 53-page federal
indictment it had prepared against Epstein. Sloman said the facts dictated that
Epstein should plead guilty to what he called “a crime in state court that reflected
his true conduct,” adding that the case was “at heart, a local sex case.”

“It is a gross mischaracterization to describe this as a local sex case,” said lawyer
Jack Scarola, a representative of several of Epstein’s then-underage victims. “There
was ample evidence that Epstein was operating on a large international scale. The
involvement of the federal government was a consequence of evidence that children
were crossing national and state borders for the purpose of prostitution.”

At the time that the case was closed, FBI investigators had identified nearly 40
victims — and more were coming forward — who said they had been molested or
sexually assaulted by Epstein and some of his co-conspirators. One of those victims,
Courtney Wild, told the Herald that she brought at least 60 girls to his waterfront

HOUSE_OVERSIGHT_023130
"
IMAGES-003-HOUSE_OVERSIGHT_016135.txt,"Table 11: Public Investment Fund listed domestic assets and their monetization potential in regards to replenishing fiscal reserves at SAMA
Potential value of Potential value of
secondary offering ifa secondary offering if
government stake is sold, § government’s
but with the government _ existing minority
still retaining 51% control stake is liquidated

Entity Sector Current government stake (%) Free-float (%) (US$bn) (US$bn)
Saudi Basic Industries Corporation (SABIC) Chemicals PIF: 70.0%; GOSI: 5.7% 24.3% 12.3 0.0
Saudi Telecom (STC) Telecom PIF: 70.0%; GOSI: 7.0%; PPA: 6.77% 16.2% 6.5 0.0
Saudi Electricity (SEC) Power Government: 74.3%; Aramco: 6.9% 18.8% 54 0.0
Saudi Ground Services Travel Saudi Arabian Airline: 52.5%; National Aviation: 14.7% 30.0% 0.4 0.0
Saudi Real Estate Company Realestate PIF: 64.57% 35.5% 0.1 0.0
National Commercial Bank (NCB) Banks PIF: 44.3%; GOSI: 10%; PPA: 10.04% 35.7% 0.0 9.5
Maaden Mining PIF: 49.99%; GOSI: 7.98%; PPA: 7.45% 34.6% 0.0 5.9
Samba Banks PIF: 22.91%; GOSI: 11.76%; PPA: 15.04% 73.2% 0.0 24
Yanbu National Petrochemical Co (Yansab) Chemicals SABIC: 51%; GOSI: 11.92% 37.1% 0.0 2.2
Saudi Arabian Fertilizer Company (SAFCO) Chemicals  SABIC: 42.99%; GOSI: 12.2% 44.8% 0.0 2.0
Riyadh Bank Banks PIF: 21.75%; GOSI: 16.72%; PPA: 9.18% 46.6% 0.0 1.9
Southern Province Cement Cement PIF: 37.43%; GOSI: 15.82% 46.8% 0.0 11
National shipping company Transport — PIF: 22.55% 80.0% 0.0 0.9
Saudi Catering Transport General Airline Services KSA: 35.7% 39.8% 0.0 0.8
Kayan Chemicals  SABIC: 35% 65.0% 0.0 0.6
Alinma Bank Banks PIF: 10%; GOSI: 5.10%; PPA: 10.71% 74.1% 0.0 0.5
Qassim cement Cement PIF: 23.35%; GOSI: 15.09%; PPA: 5.67% 79.2% 0.0 0.4
Yanbu cement Cement PIF: 10%; GOSI: 12.37% 68.5% 0.0 0.2
National Agriculture Development Agriculture PIF: 20% 85.1% 0.0 0.1
Saudi Fisheries Agriculture PIF: 39.99% 38.5% 0.0 0.1
Saudi Public Transport Transport —— PIF: 15.72% 100.0% 0.0 0.1
Eastern Province Cement Cement PIF: 10%; GOSI: 10.65% 89.4% 0.0 0.1
National Gas and Industrialization Chemicals _ PIF: 10.91% 88.0% 0.0 0.1
Saudi Ceramic Consumer PIF: 5.94%; GOSI: 16.19% 83.8% 0.0 0.0
Petro Rabigh Chemicals Aramco: 37.5%; Sumitomo: 37.5% 25.0% 0.0 0.0
Total 24.3 28.6

Source: Bloomberg, Bank of America Merrill Lynch Global Research. PIF = Public Investment Fund. GOSI = General Organization for Social Insurance. PPA = Public Pension Agency. Based on stock prices as of 28 June 2016.

Material fiscal consolidation would be necessary to narrow macro imbalances
There is no substitute for fiscal consolidation to maintain Fx policy unchanged. We map
out below paths for several macro variables depending on fiscal policy and oil prices,
with higher oil prices easing the adjustment requirement.

In a worst case scenario where US$25/bbl oil prices would persist for the next five
years, sustainability of the Saudi Fx policy rests on material fiscal consolidation, which
we believe is achievable based on the mix of revenue-raising and spending restraint
plans likely or announced to date. This would require a total 5-year cumulative
adjustment of SARSOObn (US$133bn; 20% of 2015 GDP or 4ppt of GDP annually) from
2016 onwards, which is close to what the NTP appears to be targeting in non-oil
revenue measures (US$100bn, excluding NTP costs). We think 75% of the adjustment
can take place through revenue-raising measures. The remainder of the adjustment
would need to take place through capex cuts and is similar in size to the capex
retrenchment of the 1980-90s. However, note that if one assumes that the 2015 budget
deficit will be revised higher to 18.9% of GDP, this adds a need for a further 4ppt of
GDP cumulative fiscal adjustment to maintain the same trajectory of Fx reserves.

An overhaul of fiscal policy will likely be required

In line with the 2016 budget announcement, we would expect tight budgets to be
passed. We expect a VAT with 5% yield to be implemented in 2018, alongside further
administered price adjustments for energy, water and electricity. Implementation of the
land tax is likely, but it is unclear whether the proceeds will be ring-fenced to be used
solely for housing projects. Using solely the recurring existing proceeds of the
December administered price adjustments and a VAT introduction, we still see a need
for further fiscal restraint in the order of 1ppt of non-oil GDP annually. The latter would

OS Merrill Lynch GEMs Paper #26 | 30 June 2016 25

HOUSE_OVERSIGHT_016135
"
IMAGES-005-HOUSE_OVERSIGHT_018757.txt,"Private Aircraft
“High Roller”
Terminals at LAS

Offering Procedures

Cushman & Wakefield, Inc. (“C&W”) is contacting prospective
purchasers in order to solicit their interest in the acquisition
of The Site on Las Vegas Strip. The Property is being offered
on a strict “as-is” basis with the selection of the buyer being
influenced by the level of physical and economic due diligence
initially undertaken by prospective purchasers. In this regard,
detailed financial information, title reports, service contracts
and other relevant documentation are available for review.

Property Tours

Prospective purchasers are asked to contact C&W to arrange
specific times for property tours.

Offer Submission

Prospective purchasers are kindly requested to submit offers
to Cushman & Wakefield at their earliest convenience but no
later than XX, XX, XXXX at the address specified below:

Marc D. Renard

Vice Chairman

213-955-6413
marc.renard@cushwake.com

Cushman & Wakefield of California, Inc.
601 South Figueroa Street, Suite 4700
Los Angeles, California 90017
Facsimile: (213) 627-5995

HOUSE_OVERSIGHT_018757
"
TEXT-001-HOUSE_OVERSIGHT_030432.txt,"Date: Sunday, April 15 2018 05:01 PM 
Subject: Interesting 
From: Glenn Dubin < 
To: Jeffrey Epstein <jeeyacation©gmail.com>; 
https://www.newyorker.com/news/news-  desk/michael- cohen-and-the-end-stage-of-the-trump-
presidency/amp? twitter impression=true  
Sent from my iPhone 
HOUSE OVERSIGHT 030432 
"
TEXT-002-HOUSE_OVERSIGHT_033383.txt,"From: 
Sent: 2/10/2011 3:02:14 PM 
To: jeevacation@gmail.com 
Subject: Re: 
Importance: High 
I have heard some things about it. 
B of A has note on house and the land across the street now subdivided into lots (a few acres each) called Vineyard 
Estates. 
Farm Credit Bank has note on winery and equipment. 
Trump has tried to make a deal with the lenders but didnt. He may bid. 
I'll find out current status. 
-----Original Message----- 
From: Jeffrey Epstein <jeevacation@gmail.com> 
To: paul prosperi 
Sent: Thu, Feb 10, 2011 7:56 am 
I think kluge virgnia property goes to auction next week„ we should get details 
*********************************************************** 
The information contained in this communication is 
confidential, 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 
HOUSE OVERSIGHT 033383 
"
TEXT-001-HOUSE_OVERSIGHT_029163.txt,"From: Haig, David 
Sent: 3/19/2018 9:10:54 AM 
To: Robert Trivers 
Subject: Re: 
Importance: High 
Hi Bob (and hello Jeffrey), 
; Jeffrey Epstein [jeevacation@gmail.com] 
I would be happy at the moment not to be on another mailing list. There are just too many different things I am trying to 
attend to (including imprinted green beards), 
David 
From: Robert Trivers 
Date: Sunday, March 18, 2018 at 11:22 PM 
To: ""Haig, David"" <=111, Jeffrey Epstein <jeevacation@gmail.com> 
Subject: <no subject> 
dear men 
i am writing you both because i am attaching a still not-quite-complete response to Peter Richerson, a gene-culture co-
evolutionist—without the genes 
i do so because four lines down i tell the ""Gruterites""—Gordon Getty's echo chamber—that i have added you two to the 
list 
so here is your chance to say ""no way"" and i will delete that from the message and likewise not ask Gruter's assistant to 
add your names to the list 
having said that, i find Gordon's missives much less burdensome than those from EDGE and certainly without the 
egomaniacal nonsense that infects John Brockman—the key is to get the brightest minds in a room and have them tell 
each other what they think is most important—or some such nonsense 
neither David nor i can think of a single scientific advance achieved that way—most of what we do is simply 
concentrated sustained thought directed toward the foundations of a problem 
i doubt Jeffrey has made a huge amount of money via the EDGE program 
unless you say otherwise, i will shortly send you the key Getty missives in which he asserts, i believe correctly, that 
Trump is an archetypal narcissistic psychopath—or whatever the precise term is—and that he must be opposed with full 
force on that basis 
meanwhile, David has heard plenty about you Jeffrey, a financial/mathematical mind of exceptional quality and you 
should know that David is one of the very top evolutionary geneticists still breathing and my teacher on every detail 
large and small 
in haste and all best 
HOUSE OVERSIGHT 029163 
bob 
HOUSE OVERSIGHT 029164 
"
IMAGES-002-HOUSE_OVERSIGHT_013404.txt,"Page 2
CITY SPY The Evening Standard (London) December 24, 2009 Thursday

in-flight food remains in recession. Apparently, those who supply food to executive aircraft are seeing demand soar
after a slump, but says one caterer: ""No one is eating lobster. A quick turkey box lunch is the order of the day."" Of
course, that has nothing to do with the industry being desperate to re-brand itself as time-saving and cost-efficient.

WHICH insurance broker saw a compliance officer pass out after the office Christmas lunch and have to be taken
to hospital?

WHO MADE OFF WITH THE MONEY? IT's a year since the Bernie Madoff affair blew up and the hedge fund
king was found to have been ripping off his clients. If he was in Britain the old fraudster would still be at liberty as
lawyers pored over his case and the prosecution had barely cranked into operation. But the US is different [#x2039] his
case is done and dusted, and he's languishing in jail. Even so, by US standards, the Madoff conviction was going some.
Rumours persist that he pleaded guilty as quickly as he did and said the absolute minimum because he wasn't the main
crook of the piece [#x2039] the main business of his hedge fund was washing money for organised crime. As soon as
the balloon went up and he was arrested, he was warned by friends with Italian-American origins that his life, and the
lives of his family, would be at risk were he not to ""take the rap"".

OETaking the rap': hedge fund fraud Bernie Madoff

UNFORTUNATE name? City Spy's eye is drawn to a forthcoming lecture at the Institute of Advanced Legal Stud-
ies, School of Advanced Study, University of London. It's in partnership with the Market Abuse Association. What? Do
they wear a club tie? Do they refer to each other as fellow market abusers?

LOAD-DATE: December 24, 2009

HOUSE_OVERSIGHT_013404
"
IMAGES-005-HOUSE_OVERSIGHT_019449.txt,"= q

fT Tr fa"" TT A |
VW Lt AY ITT AWS

Centre De Formation Technique Pour
L’Avancement Des Jeunes Du Sud’Est Inc.

Table of Contents

Executive Summa ry................cccceceeeecccceeeeeesececeeeeeeseenaeeeceeeeeeaaeeeeeeesesnaaeeeeeeeseesaaeeeeseeeeennneeeeeeeees 3
GRETA cenit ettertoererikintmsteetninenttnertthnninnrriecieet aio ineneeonninemnirnintnnithoeSimnmtininimsrein 4
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oc Ace | | ee ee ee ee eee 5
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U.S. afd Hatt REMGGASHIP, ccncsscanccs scnsusenaw cas sceanen axes sceanaes aoe ouannes suns soeasuen ma SoEAR MORIN os 6
Hain betere the Harth@na ke 18), 201 Q esis scenes nae mamma aman cama wee oa come 6
Eevee eee: (tee ee reper eB, OE oe cersccxencan essen esac aa a SI EROS LN fj
errennmaent 100) Tet ig ere cers messmennemnneeninnninn mmmemmam menccmmriwier mmmmRmm en emeeteiSItN i
Project Overview. .............eccccccccceeeesseceeeeeesesesceeeeeeceseeasaeeeeeeseesaaceeeeseseesaaeeeeseeeeeseeeeeeeseeeeneeeeeeeteees 8
OO i 8
SWOT Antnalysis........ceecccceeecceeeeeeeceesseeeceeeeeeeeeseeeeecsseeeceserseeseeseeceesseeeeseceeeseeseeesssreeeeeeneeees 9
S| a ee eee 10
Traming Plan... eeeeeceescecceeseeeeeesseeeeceneeeeceeseeceesseeecsneeeecsesaeesesseeeeseteessessneesesseeerees 11
Essent Soc AR cei scnincsiionerurianrlatrsneincicaneaneneccondiinins inresnallanersateaancniinewaunten eiciiencrscta 12
Forecasted Budget..........ccccccccescceeeseeeecesneeeeeeeneecceeseeeeccseeeeeeseneesessneeesseeeeseeenieesessereeseeeneeeees 12
I aie erest bea sioese neeene tere laearrshlbeesclaesce ob iaheeerceersshbbe es Pcbienscedtalintrearciiibberialbclersdebsbeceisciabecrt 16

PO Box 666 Brentwood, NY 11717 © Phone (631) 273-4100 © Fax (631) 273-4111 © yair@cefotaj.org © Wwww.cefotaj.org

HOUSE_OVERSIGHT_019449
"
IMAGES-005-HOUSE_OVERSIGHT_018743.txt,"je
—
\
Wi
Whi
i

A38.5 ACIC4.)
DevelopmentSite _

onthe Las Vegas Strip *

"
IMAGES-003-HOUSE_OVERSIGHT_016121.txt,"Chart 3: Saudi Arabia proven crude oil reserves Chart 4: Saudi Arabia proven gas reserves
bribbi mSaudi Aramco = Others tn cf eSandidvanos withers
0 300 ont
250 THe 250
200 200
150 4 Tl 150
100 100 +
50 50
N wore wr re @oOrmevwveeanvwwseaorews*tro @ SO oe @Srre OwnrTr Oey OMMWMse Bs o wo
essere pgpeseseSESSSSSSSSS SSSSSSSSSSSSSSSSSSS
+ x + x x a x NNN NN x 7 x x v x v x v = + NNNNN NN N

Se a

Source: SAMA, Bank of America Merrill Lynch Global Research Source: SAMA, Bank of America Merrill Lynch Global Research

Oil sector privatization could slow debt build-up and support Fx reserves

Potential energy sector asset partial privatization could raise a substantial amount for
the Saudi government, in our view. A share sale would be a non-debt creating financing
flow for the budget, which would lessen the need to borrow domestically or externally. A
share sale could also increase Saudi Arabia’s ability to project soft power and influence
regionally and internationally. However, it would only support the build-up of Fx reserves
in the case of foreign investor participation. Assuming a USS2trn valuation suggested
by the Deputy Crown Prince as the value for the SWF, the vast majority of which would
be Aramco through a possible 5% listing, such a listing could raise up CUS$100bn, which
would represent the current annual government borrowing requirements and associated
Fx reserves drawdown. We expect further administered energy price adjustments over
the next five years, which should increase state revenues, in our view.

A share sale may also facilitate international borrowing on the back of Saudi Aramco’s
balance sheet. Saudi Aramco also announced it would look to set up a corporate debt
program to fund its NTP initiatives, although issuance does not appear to be an
immediate prospect. A corporate debt program, alongside a sovereign one, could allow
the government to simultaneously tap a new pool of liquidity through corporate bond
investors, upstream proceeds if needed and support Fx reserves. This could be achieved
without impacting central government debt ratios and without saturating the
government debt issuance room with sovereign debt investors. Saudi Aramco raised a
US$10bn syndicated loan in late March 2015 in part to fund acquisitions. The loan
replaced USS4bn in existing facilities agreed to in 2010, and includes a US$6bn five-
year tranche with two 1-year extension options, a US$1bn 1-year renewable facility, a
non-interest bearing SAR7.5bn (USS2bn) five-year tranche with two 1-year extension
options and a SAR3.75bn (US$1bn) 1-year tranche renewable yearly.

Very roughly, taking the US$2trn Deputy Crown Prince potential valuation for Aramco,
and assuming an optimal 10% net-debt-to-equity medium-term target, it would suggest
that Aramco could manage leverage of up to US$200bn (c30% of GDP) in domestic and
external debt on its balance sheet. Within a corporate setting, possible higher gearing
needs to be justified to shareholders and could reflect financing of acquisitions or NTP
costs. From a macro angle, international issuance would support Fx reserves.

Three aspects of energy policy to consider going forward

Energy sector privatization is likely to raise questions on the future path of energy
policy, though we believe the latter will stay the course for now. We believe that are
three aspects that are central to energy policy in Saudi Arabia: a) competition for global
market share in upstream operations; b) future investment decisions and maintaining of
spare capacity buffer; and c) integration and expansion of downstream ventures to
create domestic jobs, secure captive crude demand and make operations less volatile.

OS merrill Lynch GEMs Paper #26 | 30 June 2016 11

HOUSE_OVERSIGHT_016121
"
TEXT-001-HOUSE_OVERSIGHT_030426.txt,"﻿CONFIDENTIAL
ISSUES OF REPUTATION
For the purposes of this discussion, here are the principal objectives:
• Minimise any mentions in the tabloid press in the UK and US
• Steadily to restore your profile in select media, political and philanthropic
circles
• Establish you as a pioneering supporter of science and technology with a
focus on the less fashionable but most important disciplines
• Consider some kind of annual event which brings together your business
and philanthropic interests
Tabloid press attention
It is imperative that this be tackled as a matter of urgency, particularly in the UK
which generates so much of the follow up coverage in the US, but also comes to
the fore in the most cursory Google search of your name.
Since it is an unambiguous objective of the Daily Mail and Mail on Sunday to take
down Prince Andrew, it is disastrous for you to be seen in any way to facilitate his
lifestyle, or to help with his well documented issues. Their sole interest in you and
Ghislaine is as a means to attack Prince Andrew and Sarah Ferguson. You need
to studiously avoid any involvement whatsoever with the couple, which will lessen
the interest and we can establish a constructive relationship on your behalf with
them. In the fullness of time, it will be possible to run a positive piece about your
philanthropy.
As for the US tabloids, much of what they have published took the lead from the
UK papers and is to do with the Prince Andrew/ Sarah Ferguson/ Bill Clinton axis.
Without that distraction, it will be easier to maintain a lower profile.
Restoring your profile
The strategy has to be one that is medium term, say 18 months, which starts off
slowly and intensifies over time, and should not appear to be calculated. We can
discuss in more detail but it should include the following components:
• “Clean up” Google: Another urgent priority is to retain one of the expert
firms in search engine optimization (SEO) to “clean up” the results on all
major search engines where your name is part of a search query. Today,
when anyone types in your name, a majority of the first few pages of the
results are references to the charges, to paedophilia, to Prince Andrew,
to unflattering stories – many of which link back to the Mail websites. We
have hired an excellent team of Israeli experts for other clients, and there
are many firms that claim to be able to optimize results this way but fail to
deliver. I cannot overstate the importance of this, because it is the initial
source of information on you for many people.
• Top editors and columnists: These engagements should be informal
at the outset, and preferably at dinners, lunches and events which aren’t
built around you. The focus should be on serious business and financial
journalists who are more interested to hear your opinions on the world
economy than to probe tabloid headlines. Those editors and columnists I
tend to single out are Gerald Baker and Thorold Barker at the Journal,
Lionel Barber and John Gapper at the Financial Times, Andrew Sorkin
and Hugo Lindgren at the Times, John Micklethwait and Matthew Bishop
at the Economist, Josh Tyrangiel at Businessweek, as well as a handful
of international correspondents. Ideally, the first few encounters would be
at dinners and events that we organize in New York and internationally,
which could be followed by dinners at your house in due course.
• International political circles: Much more is to be gained by increasing
your profile among the international political class than the domestic U.S.
political class. The global nature of your business, the importance of the
growth markets and the puritanism of American politics are good reasons
for this. In our view, you should be spending time with European, Middle
Eastern, Asian and Latin American political and business leaders – some
of which you of course already do on a daily basis but in a concerted way
through such gatherings as, the Ambrosetti Forum, the Abu Dhabi Media
Summit, Bilderberg and the BRICS Summit. I see that you are part of the
Trilateral Commission and this is in a similar vein. The advantage offered
by these gatherings over private meetings is that it demonstrates vividly
to all the other opinion leaders the unique position you occupy among the
international business elite.
Science and technology
The passion and commitment you have for supporting scientific and technological
research is extremely helpful in two ways. First, when spending time with editors
and columnists, it is important to focus their attention on areas of your choice, not
theirs. Not only is your funding of these disciplines an interesting subject, but the
special rapport that you enjoy with a number of outstanding scientists. This helps
to showcase your unique position, and acts as a powerful character reference, as
did the Alan Dershowitz quotes in your 2005 Vanity Fair profile.
Second, since it is intrinsically difficult for people to understand the nature of your
business, it is all the more important that there is an aspect of your life that is well
understood and which can be proactively communicated. Philanthropy can be the
vehicle for this, and your highly targeted philanthropy even more so, because the
impact is quantifiable. A lot can be accomplished with the science and technology
press in the first instance, who are interested in the serious side to your work and
are uninterested in the tabloid headlines.
Some of the necessary steps are:
• Take down the Jeffrey Epstein Science and Jeffrey Epstein Philanthropy
websites, and build a new site from scratch which explains your interests,
your past funding, the scientists you support and the breakthroughs
• Introduce greater transparency into how you allocate funding in response
to grant applications
• Establish a Scientific Advisory Board of the Foundation, which serves to
demonstrate the deep knowledge base you draw on and attracts the best
scientists to apply
• Sets out quantifiable long term targets, i.e. the Gates Foundation target
to eradicate malaria by 2015
Annual event
I would advise you to think about some kind of annual event that brings together
your business and philanthropic interests, i.e. an intimate and high level summit
or conference. The best events of this nature clearly demonstrate:
• The convening power of the host
• Your interest and expertise in a range of subjects
• Your network that your clients and acquaintances greatly value
• The connections made between your guests
• That you are undaunted by the negative publicity, it is ‘business as usual’
Whilst different from what I have in mind, the Milken Conference has been a key
part of Mike Milken’s rehabilitation. This could be a much smaller, more high level
gathering focused on a subject of interest to these core constituencies.
Osborne & Partners LLP
14 June 2011
"
IMAGES-002-HOUSE_OVERSIGHT_013410.txt,"Attorneys want Jeffrey Epstein agreement thrown out 4/7/11 1:37 PM

Copyright © Thu Apr 07 13:33:34 EDT 2011 All rights reserved. By using PalmBeachDailyNews.com, you accept the terms of our visitor agreement. Please read it.
Contact PalmBeachDailyNews.com | Privacy Policy | About our ads

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http://www.palmbeachdailynews.com/news /attorneys—-want-jeffrey-epstein-agreement-thrown-out-1338111.html Page 3 of 3

HOUSE_OVERSIGHT_013410
"
IMAGES-009-HOUSE_OVERSIGHT_027028.txt,"From: Pritzker, Ton

Sent: 5/23/2013 3:15:37 AM
To: jeevacation@gmail.com
Subject: Fwd: Pritzker Alert

Attachments: image001.jpg

Importance: — High

I clearly did something wrong in my last life to have to deal w this bullshit. AND I warned her.

Saiaaianaiete Original message --------

From: “Eisenberg, Marshall ©."" <_

Date:

Subject: Fwd: Pritzker Alert

Sent from my iPhone

Begin forwarded message:

From: ""Kaczorowski, Monice M."" [77 ee
Date: May 22, 2013, 8:54:07 PM CDT
To: Tt tof Tt

rr.”

Subject: Pritzker Alert

, ‘Richman, Lawrence

washingtonPost.com<http: //washingtonPost. com>
Copyright 2013 The washington Post

May 22, 2013
Section: in-the-loop

Obama nominee Penny Pritzker's $80 million mistake

President Obama's billionaire nominee to head the Commerce Department, Penny Prizker, understated her
income by $80 million.

Emily Heil

Hey, these things happen: Penny Pritzker, President Obama's nominee to lead the Commerce Department,
understated her income by some $80 million and had to file a correction to her government-filed
disclosures, Bloomberg is reporting.

That might sound like a lot of money, but it's all relative. Pritzker, whose family founded the Hyatt
hotel chain, is worth about $1.5 billion. So it's easy to see how a few million - or 80 — could go
missing.

Maybe she left it in the other purse?

A spokeswoman told Bloomberg that the $80 million was “a substantial amount"" and that Pritzker's advisers
corrected the error as soon as they realized it.

Per Bloomberg: ""Documents released last week show Pritzker received $32.2 million for a decade's worth of
consulting on the restructuring of domestic trusts,"" but new filings indicated she made at least $80
million more than that.

Monice M. Kaczorowski

chief Knowledge officer

NEAL = GERBER = EISENBERG

Two North LaSalle Street «= Suite 1700

mai lto:mkaczorowski@ngelaw. com>
www .ngelaw.com<http: //www.ngelaw.com/<http: //ww.ngelaw. com<http: //ww.ngelaw.com/>>
[cid: image001. jpg@01CE572E.7E4D4B70]<http: //ww. linkedin. com/pub/monice-kaczorowski/6/44/367/>

Please consider the environment before printing this email.

HOUSE_OVERSIGHT_027028
"
IMAGES-003-HOUSE_OVERSIGHT_014736.txt,"target. It is possible that Trump’s election could weaken fiscal discipline in the Eurozone
over the medium term, but we are more concerned by the non-trivial risk that the ECB
may disappoint in the December meeting by either not extending quantitative easing
(QE) beyond next March or announcing tapering prematurely. We like selling 30y
breakeven.

Our commodity team expects OPEC to agree on production cuts on November 30. This
should help support oil prices and the currencies of oil producers like Russia. With the
election of Trump, the probability has increased that there could be some sanction relief
for Russia under the new US administration. RUB has the additional advantage of
offering the highest real rates in EM right now. Given our bullish view on the USD, we
would recommend selling EUR/RUB.

Top 10 Rates, EM & FX trades for 2017

1. Short US 5y rates — Two and a half Fed hikes priced by the rates market for
2017-18 are not consistent with aggressive fiscal easing promised by Trump.

2. Short US 10y real rates — After the violent repricing of inflation breakevens,
real rates offer better risk-reward to position for higher rates.

3. Buy USD/JPY — With the BO) pegging 10y JGB yields at zero, we expect this
highly interest rate sensitive USD cross will continue to be the biggest
beneficiary of the Trump win.

4. Sell a basket of Brazilian, Mexican, and Colombian long bonds — Positioning
in EM fixed income market remains crowded while liquidity is poor.

5. Sell BRL/MXN - MXN is oversold but BRL will be vulnerable to the divergent
paths between Brazil’s easing and the Fed’s tightening cycles.

6. Buy USD call/CNH put — President Trump will need a weak USD, but President
Xi needs a weak CNY. We believe risk premium for a collision course is too low.

7. Sell EUR/GBP - Brexit and Trump could bolster the anti-globalization parties in
Europe ahead of key elections next year.

8. Sell Eurozone 30y inflation breakevens — We think investors should take
advantage of the recent rally to sell into the December ECB meeting, which
could disappoint.

9. Sell EUR/RUB — Likely OPEC production cuts on November 30 and possible
sanction relief for Russia are bullish for the RUB, in our view.

10. Buy NZD/USD put spread — Spot NZD/USD is forming a head and shoulders
top pattern that suggests a decline will follow in 2017.

The rationale and risks to the trades are detailed below. For a complete list of open and
closed trades see the Global Liquid Markets Weekly.

6 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 Bankof America
Merrill Lynch

HOUSE_OVERSIGHT_014736
"
IMAGES-008-HOUSE_OVERSIGHT_025276.txt,"Section 2.C

Foreign Exchange

2 UBS

HOUSE_OVERSIGHT_025276
"
IMAGES-004-HOUSE_OVERSIGHT_017039.txt,"$11. Gerhard Sauder: Die BUcherverbrennung.10. Mai 1933. Ullstein Verlag, Berlin,
Wien 1985.

$12. http://de.wikipedia.org/wiki/Liste_ der verbrannten Bucher 1933.

$13. Liste Des Schadlichen Und Unerwtinschten Schrifttums: Stand Vom 31. Dez.
1938. Leipzig: Hedrich, 1938. Print.

$14. http://www.berlin.de/rubrik/hauptstadt/verbannte_buecher/az-autor.php

$15. Barron, Stephanie, and Peter W. Guenther. Degenerate Art: the Fate of the
Avant-garde in Nazi Germany. Los Angeles, CA: Los Angeles County Museum
of Art, 1991. Print.

$16. Ginsberg, Jeremy, Matthew H. Mohebbi, Rajan S. Patel, Lynnette Brammer,

Mark S. Smolinski, and Larry Brilliant. ""Detecting Influenza Epidemics Using
Search Engine Query Data.” Nature 457 (2008): 1012-014.

HOUSE_OVERSIGHT_017039
"
IMAGES-007-HOUSE_OVERSIGHT_023124.txt,"Filming

Venues

Transportation

Fees

Other Production costs
Total

Budget:

$100K/episode
$50K/episode
$20K/episode
$300K/episode
$30K/episode
$500K/episode

$1.2 Million
$0.6 Million
$0.24 Million
$3.6 Million
$0.36 Million
$6.0 Million

HOUSE_OVERSIGHT_023124
"
IMAGES-003-HOUSE_OVERSIGHT_015428.txt,"violinist,” he said, “Il was worried about my hands. But my opponent in
the semi-final match was an oboe player with a concert scheduled for the
next day, and he asked me to take it easy on his mouth.”

kok *

In October 1957, Russia sent Sputnik into space. It was the first
orbiting satellite, circling the earth in 96 minutes, and making 1,440 orbits
in three months. This astounding technical feat was totally unanticipated
by the United States and ignited the era of the space race. At the time,
George was working as a civilian scientist for the Army Signal Corps in Fort
Monmouth, New Jersey, in charge of the radio relay program. He had been
recruited by their senior executive of Research & Development, an
alumnus of the University of Michigan.

A week after Sputnik, George sent a proposal to the Commanding
General, urging a space communication program. The response: Do /t/
""So,"" George recalls, “I created the first Space Electronics organization
in the country. It was very strange making presentations to generals and
top government officials. At age twenty-nine, as head of the Astro-
Electronics Division, | had the civilian rank equal to a colonel, but | looked
like a young kid. It was embarrassing to take them to lunch and be carded

by the waiter.”

HOUSE_OVERSIGHT_015428
"
IMAGES-006-HOUSE_OVERSIGHT_020702.txt,"Image source: yuyamika7

#5 Natasha Romanoff

HOUSE_OVERSIGHT_020702
"
IMAGES-012-HOUSE_OVERSIGHT_033039.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 9/20/2017 10:34:14 PM
To: Anas Alrasheed
Subject: Re:

Importance: — High

no need :)

On Wed, Sep 20, 2017 at 6:26 PM, <anasalrasheed[ii > wrote:

thnx jeff ..im prayingpiabid
Sent from my iPhone

On Sep 21, 2017, at 1:17 AM, jeffrey E. <jeevacation@gmail.com> wrote:

the book worked. :)

On Wed, Sep 20, 2017 at 5:57 PM, <anasalrashecd > 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

communication or any part thereof is strictly prohibited

and may 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

HOUSE_OVERSIGHT_033039
"
IMAGES-011-HOUSE_OVERSIGHT_030788.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 5/9/2018 10:57:12 AM
To: Steve Bannon
Subject: ny times freudian

Having shed or sidelined some of the top advisers who held him back in the past, Mr. Trump gives the
appearance of a leader liberated at last to follow the china-breaking instincts that have long animated his
approach to the world even as they troubled diplomats and national security veterans of both parties.

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_030788
"
IMAGES-008-HOUSE_OVERSIGHT_025510.txt,"GUID: C748

Message:

Sender:

EEOB-A9EC-471F-90DD-BESE5B15111

Gl
fe

Or China

:jeeitunes@gmail.com

Time: 06/11/19 06:26:17 PM (581995577)

Flags: 1085445

ITs Read: No

Is Invitation: No

GUID: 5SF7FE426-694B-4B8F-AACE-67137511D82C

Message:

18th century mumbo jumbo referred to a West African god.

Mandinka males would dress up in order to resolve domestic disputes.[2] In the

Time: 06/11/19 06:27:28 PM (581995648)

Flags: 1052673

Is Read: No

Is Invitation: No

GUID: 4BA2EF47-913A-4619-B537-718B38AC7387

Message:

T

hat phrase got to guys

HOUSE_OVERSIGHT_025510
"
IMAGES-009-HOUSE_OVERSIGHT_027996.txt,"that you came back,” he said. ““We’Il need each and every one of you to get the
job done.” Then he hugged me again. It was as if, knowing I would soon be
heading for the front line, he wondered whether we’d see each other again.

I made my way to the office that the chief of staff used in the bunker and
asked Dado’s secretary if I could see him. As she was deciding whether to let
me in, he emerged. Though obviously aware of the seriousness of the situation,
Dado radiated his usual calm and confidence. For the first time, I felt a bit more
hopeful. “Ma nishmah, Ehud? he asked, in Israelis’ everyday greeting. “What’s
up?” I told him I’d just come from the airport. “I can help in special forces,
infantry, armor. Whichever is most needed.”

“Leading a tank unit,” he said. ““They’ve suffered heavy losses. Go see
Tzipori.” Motke Tzipori was in charge of organizing the armored units. He sent
me to Julis, the training base between Tel Aviv and Beersheva, where tanks
from maintenance units around the country were being brought. Once they were
reasonably operational, and as more reservists arrived from abroad, I would lead
a makeshift battalion to help reinforce our badly depleted forces in the Sinai.

I was just one of dozens of officers, in command of thousands of tireless and
courageous troops called on to try to turn the tide. Most were reservists. Many,
like me, had rushed home in the knowledge that for the first time since 1948,
there was the real risk Israel would be defeated. By the time I got my battle
orders — October 14, the ninth day of the war — Israeli forces on the Golan, at
enormous cost, had managed to turn back the Syrian attack. In this war, the men
from Sayeret Matkal were not bystanders. Most of the unit joined the fightback
in the north, where, under Yoni Netanyahu’s command, they took on and
defeated a Syrian commando force in the heart of the Golan. Yoni himself
risked his life to rescue a wounded officer from another unit behind enemy
lines.

In the Sinai, however, the situation remained dire. An initial counterattack,
launched while I was on my way to Julis, ended up in tatters, with whole
battalions all but destroyed, as our tanks came under fire from rocket-propelled
grenades and, above all, the wire-guided Saggers. Israel’s main advantage in
1967 — our command of the skies — was all but gone. By moving their surface-

148
HOUSE_OVERSIGHT_027996
"
IMAGES-007-HOUSE_OVERSIGHT_023642.txt,"how that got published?
PK: It was originally a guy from LIFE. He’d
interviewed me, and mentioned some of
the staffers had seen Rosemary's Baby,
where there’s an anagram moment with
Scrabble pieces, something to do with
witcheraft —
EP: “Steven Marcato”.
PK: Yeah. Staffers had discovered this joke
about the Vice President’s name, based
on that scene. They couldn’t use it in
LIFE, but it had to 0 somewhere. So, I
ran it in the four-page comic that Richard
Guindon and I did together.
EP: Both the LBJ piece and Rosemerica
comic clearly bend into surrealism. The
response of readers, delighted and infuri-
ated, had to be one of the best moments
of yout life.
PK: Many many people believed [the LBJ
piece], even for just a moment. It was
something I’d learned from Joseph Heller,
when I interviewed him (Realist #39). I
asked about one of the patients in Catch-
22, who is in a veteran’s hospital. The
patient was wrapped up like a mummy,
fed through IV's, excreting through tubes
— he was just a middleman for digestion.
I asked Heller, and he said, “Well you
know, it’s possible, but not probable.”
EP: “Possible but not probable” explains
these last fifteen months on Earth.
PK: Regarding the LBJ piece, there were
people who claimed to remember a pho-
tograph! (laughs)

People who said they believed the
article, if only for a moment, included
Daniel Ellsberg, who released The Pen-

2“Trump’s Presidency is Doomed,” The
Washington Post, January 16, 2017.

tagon Papers. He said the reason he be-
lieved it, was because he just so much
wanted it to be true.

EP: Speaking of Ellsberg, and now Trump,
how do you feel about leaking?

PK: Well, I leak several times a day.
(Shared laughter)

EP: It’s very good for you.

PK: That’s bladder control.

EP: It’s funny that the Russian sex black-
mail was Trump having a urine party with
a bunch of hookers.

PK: That was a fake. But it became a
perfect image for comedians worldwide.
EP: But it’s like the LBJ issue — maybe it
will stick. People also remember The Dis-
neyland Orgy from the magazine. And the
wonderful FUCK COMMUNISM poster.
PK: You know, I use a walker, but I go to
the gym three times a week, to use the
treadmill. I had my FUCK GOMMUNISM
t-shirt on, you know, the red white and
blue. As I was walking out, there was a
policeman who held the door open for
me. And he saw the t-shirt.

EP: Oh, god —

PK: He said, “Hey, that’s a great t-shirt!”
He took it literally!

EP: | know the poster was said to be the
perfect confluence of two banned terms.
PK: Kurt Vonnegut praised it for that.
EP: “Fuck” has kind of won, right? You
can say “Fuck” anything now, and it’s
fine. That is one experience I don’t have,
growing up when that word was so ver-
boten. I understand how saying “Fire” in
a crowded theater is illegal, but I don’t
have an understanding of a world where

1“Roseamerica’s Baby,” The Realist #93,
August 1972.

saying “Fuck” could get your arrested.
How did Lenny Bruce work around it?
PK: He had to use a euphemism. He’d
have to say “frig.”

The first time I met Lenny, he came to
New York, and he called — because The
Realist was his favorite magazine.

EP: That had to feel great.

PE: It did. Steve Allen was the first sub-
scriber. He would give subscription gifts
to several friends, and Lenny was one
of them.

Lenny then sent a lot of subscriptions
to his friends. That’s how it started, and
how it grew — word of mouth — which
is better than advertising, because it’s
free and you're getting it from someone
you know, an individual.

When I met Lenny for the first time,
I gave him an advance copy of an inter-
view with Dr Albert Ellis, a psychologist.
Lenny was reading and said “He used
the word [‘fuck’]!” I explained to him
that Ellis had a campaign that “fucking
was good” therefore, if you wanted to
say something unfriendly, you should
say “unfuck you”...

Lenny asked, “How does he get away
with this?” I told him, “The Supreme
Court said use of the word wasn’t obscene
in a magazine if it was a redeeming social
value, and no prurient interest.”

Lenny asked, “What’s that? Prurient?”
He went to his suitcase on his bed in the
hotel room. Inside was a huge unabridged
dictionary. At first, it said something like
“itching” — and Lenny asked, “Is this
something like a novelty store?”

EP: Where they sell the powder!
PK: Or the dribble glasses. But the second

Created in 1963 by Paul Krassner and John Francis Putnam, this poster was a staple of dorm rooms for decades. Kurt Vonnegut
called it “a miracle of compressed intelligence nearly as admirable for potent simplicity, in my opinion, as Einstein's e=mc?.”

Lh ft
COMMUNISM!

ADDITIONAL COPIES AVAILABLE FROM THE MOTHERS OF THE AMERICAN REVOLUTION, WASHINGTON, D.C.

Ww

HOUSE_OVERSIGHT_023642
"
IMAGES-011-HOUSE_OVERSIGHT_030950.txt,"From: lan Osborne

Sent: 9/7/2012 2:40:14 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re: Jawbone/Mort

What else are you interested in? Peter is best for currency; maybe Reid Hoffman (fatty at LinkedIn) or Dave
Morin (Path) or Drew Houston (Dropbox).

I do believe China offers the best opportunities for Sinofsky. Problem is after Windows, pretty much everything
else in the US is a step down. No-one else is building an OS. Alibaba or Xiaomi in China are. But if he wants to
stay in the US, then probably the best options are Facebook (who may one day do their own OS), Palantir (Peter
Thiel's), Yahoo (where Marissa is aggressively seeking out senior talent). Then of course, there is Apple and
Google - but I assume he doesn't want to be a traitor to Microsoft?

On 7 Sep 2012, at 03:20, Jeffrey Epstein wrote:

yes, who else ,? im meeting with sinofsky, , i think he wants to do different things. chinese may be
difficult becuase of us secuirty cleraence

On Thu, Sep 6, 2012 at 10:00 PM, Ian Osborne Po wrote:

Are you back now in NY?

I'm in London but staying up to watch the Obama speech. Hosain's really keen to close this out by Monday...
It would help me a lot if we can finish this for once and for all.

I'm in Munich Saturday, then St. Petersburg and Moscow with Eike Sunday-Tuesday (we've got some terrific
meetings lined up), London Wednesday-Thursday (including Mubadala board meeting Wed.) and then heading
to SF next Friday 14th.... you will arrive on the 16th? Shall we do Peter Thiel for drinks then?

Best wishes,

Jan

On 6 Sep 2012, at 11:52, Jeffrey Epstein wrote:

Til review all in detail , when i land tonight , in ny for the next week, you?

a Forwarded message ----------

From: Darren Indyke

Date: Wed, Sep 5, 2012 at 8:17 PM

Subject: Fwd: Jawbone/Mort

To: Jeffrey Epstein <jeevacation@gmail.com>

HOUSE_OVERSIGHT_030950
"
IMAGES-004-HOUSE_OVERSIGHT_017987.txt,"Case 1:19-cv-03377 Document1-3 Filed 04/16/19 Page 3 of 3
including the suppressed emails and book manuscript — who is telling the truth and who

is lying.

2/2

HOUSE_OVERSIGHT_017987
"
IMAGES-011-HOUSE_OVERSIGHT_031496.txt,"From: Thomas Jr., Landon ee |

Sent: 10/19/2016 1:41:38 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Saudi money

Importance: — High

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 Po 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:)
Landon Thomas, Jr.

Financial Reporter
New York Times

http:
.htm!

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

HOUSE_OVERSIGHT_031496
"
IMAGES-002-HOUSE_OVERSIGHT_013376.txt,"involved. See, e.g., Edwards Depo. at 301-02 (Q: “...[Wlere you aware that Scott Rothstein
was trying to market Epstein cases... ?” A: “No.”),

Edwards has supplemented his deposition answers with an Affidavit that declares in no
uncertain terms his lack of involvement in any fraud perpetrated by Rothstein. See, eag.,
Edwards Affidavit attached to Statement of Undisputed Material Facts as Exhibit “N” at 8-10,
420, 422-23. Indeed, no reasonable juror could find that Edwards was involved in the scheme, as
Edwards joined RRA well after Rothstein began his fraud and would have been already deeply in
debt. In fact, the evidence of Epstein’s crimes is now clear, and Edwards’s actions in this case
were entirely in keeping with his obligation to provide the highest possible quality of legal
representation for his clients to obtain the best result possible.

In view of this clear evidence rebutting all allegations against him, Epstein must now
“produce counter-evidence establishing a genuine issue of material fact.” See Bryant v. Shands
Te caching Hospital and Clinics, Inc., 479 So.2d 165, 168 (Fla. Ist Dist. Ct. App. 1985). Epstein
cannot do this. Indeed, when asked at his deposition whether he had any evidence of Edwards’s
involvement, Epstein declined to answer, purportedly on attorney-client privilege grounds:

Q. I want to know whether you have any knowledge of evidence that Bradley

Edwards personally ever participated in devising a plan through which were sold

purported confidential assignments of a structured payout settlement? .. .

A. Id like to answer that question by saying that the newspapers have reported

that his firm was engaged in fraudulent structured settlements in order to fleece

unsuspecting Florida investors. With respect.to my personal knowledge, I’m

unfortunately going to, today,.but I look forward to at some point being able to

disclose it, today I’m going to have to assert the attorney/client privilege.
See Deposition of Jeffrey Epstein, Mar. 17, 2010 (hereinafter “Epstein Depo.”) at 67-68.
Therefore summary judgment should be granted for Edwards on all claims involving any Ponzi

scheme by Rothstein.

HOUSE_OVERSIGHT_013376
"
IMAGES-006-HOUSE_OVERSIGHT_022115.txt,"James PATTERSON

One young woman Ward talked to had been invited by Ghis-

laine Maxwell to attend a party at Epstein’s town house. There,
the woman had noticed, female guests far outnumbered the male
guests. “These were not women you'd see at Upper East Side din-
ners.” the woman had said. “Many seemed foreign and dressed a
little bizarrely.”

“This same guest also attended a cocktail party thrown by
Maxwell that Prince Andrew attended, which was filled, she
says, with young Russian models,” Ward wrote. “‘Some of the
guests were horrified? the woman says.”

Another source, one who had worked with Epstein, said,
“He’s reckless, and he’s gotten more SO. Money does that to you.
He’s breaking the oath he made to himself—that he would never
do anything that would expose him in the media. Right now, in
the wake of the publicity following his trip with Clinton, he

must be ina very difficult place.”

148

4

ff

Vicky Ward: Novembei

hat I had ‘on tk

Beast article pu

some remarkab
on-the-record stories from
who came from Phoenix. °
character was vouchsafed
the artist Eric Fischl, had 1
ing room, of how Epstein h
separately, her younger sist
Ward had written it all

4 the t’s, dotted the i's.

But when she called Ej
the allegations completely.
‘Just the mention of <

HOUSE_OVERSIGHT_022115
"
IMAGES-001-HOUSE_OVERSIGHT_011901.txt,"/ BARAK / 144

was off the agenda. The diplomatic process with the Palestinians was stalemated. I
could see no point in remaining in the government.

Like my last period in Olmert’s government, my final few months were
dominated by finding a way to end Hamas attacks from Gaza. During one 24-hour
period in November, Hamas launched more than 100 rockets at towns in the south,
while also attacking two military units across the border. Especially since our
military response would be the last during my time as Defense Minister, I was
determined that, this time, it would have a strictly defined objective and a finite
time frame. The overall objective hadn’t changed since Olmert’s premiership: to
hit Hamas hard, bring down the number of rocket attacks to as near zero as
possible, and reach an agreement, through the Egyptians, which established a
period of calm on our border for as long as we could. Bibi’s “victimhood”
narrative notwithstanding, one aspect of the military balance in the south was now
dramatically different. With my backing as Defense Minister, we now had Iron
Dome, which I was confident would help deal with the inevitable shower of Hamas
rockets that would follow our initial attack. Again, I felt it was essential to start
with a quick, unexpected, damaging first strike. Then, through sustained air
bombardment, to keep up enough pressure to secure the political arrangement we
wanted. And, unlike under Olmert, to end the operation as soon as we’d achieved
its aim.

On the afternoon of November 14, we launched a targeted air strike on Hamas’s
de facto chief of staff, Ahmed Jabari. We’d gone after Jabari in the past but, for
one reason or another, had failed. We also hit nearly two dozen other Hamas
targets, including all of the main missile sites we had identified. The whole
operation lasted a week. Hamas fired nearly 1,500 rockets into Israel, not just
locally manufactured Qassems but longer-range Iranian Fajr-5s and Russian Grads.
For the first time since the 1991 Gulf war, several were targeted at Tel Aviv and
Jerusalem. Fortunately, they were not significantly more accurate than in the past.
More than half landed in fields or orchards. And with Iron Dome deployed around
our major towns and cities, more than 80 per cent were intercepted.

We hit nearly 1,500 targets over the seven-day period, mostly launch-pads,
Hamas government installations and weapons stores, but also a number of
apartment complexes being used by Hamas as bases or firing points. Bibi rightly
pointed out that we were forced to fight a fundamentally asymmetric battle. While
Israel began with the principle of directing our fire away from civilian areas,

430
HOUSE_OVERSIGHT_011901
"
TEXT-001-HOUSE_OVERSIGHT_029611.txt,"From: Larry Summers 
Sent: 3/16/2019 9:38:20 PM 
To: J [jeeyacation@gmail.com] 
Subject: Re: Disaster but maybe i 
Importance: High 
Figuring out how. 
Could say she has now used up 80 percent of what she was owed through my changes in plan. 
Or say xi changes meeting w trump. 
I think she is tired of this alas. 
Sustaining w secrecy hard. 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
On Mar 16, 2019, at 5:27 PM, J <jeevacation@gmail.com> wrote: 
Firm delivered through humor 
On Sat, Mar 16, 2019 at 5:16 PM Larry Summers < > wrote: 
No I meant that thanking her will be wierd because we had 45 minutes of friendly convo before the bit I 
described. 
I'll wait till tmrw and send her some article and then say some version of your msg. 
At some point need more firmness though. 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
On Mar 16, 2019, at 5:10 PM, J <jeevacation@gmail.com> wrote: 
And? 
On Sat, Mar 16, 2019 at 4:33 PM Larry Summers < > wrote: 
Doesnt work I talked to her for 45 minutes. 
Sent from my iPhone 
HOUSE OVERSIGHT 029611 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
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 , 
I'm really mad at the deception. 
Should I just wait for her to call? 
> wrote: 
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 11 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: 
Follow me on twitter glhsummers 
www.larrysummers.com 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
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, . you reacted well.. annoyed shows caring. , no whining showed strentgh. 
HOUSE OVERSIGHT 029612 
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 11 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 at: 
Follow me on twitter glhsummers 
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 < 
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 
> wrote: 
HOUSE OVERSIGHT 029613 
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 
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 029614 
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 029615 
"
IMAGES-010-HOUSE_OVERSIGHT_029690.txt,"with the most obvious absence being that of the Muslim Brotherhood, which protested what it considered to be a
biased ballot. It remains unclear who will succeed Prime Minister Abdullah Ensur (who submitted his resignation
to King Abdullah on January 29""), although analysts and commentators consider it likely that a number of
unexpected appointments will be made in an effort to address the growing malaise. Media reports speculate that
there are also plans to set up an official channel for communication with the Muslim Brotherhood. Meanwhile, it
appears that King Abdullah is seeking to bolster ties with regional allies, perhaps for both political and economic
Teens: the King made visits to Bahrain, the United Arab Emirates, and Kuwait from January 29"" to February
4.

Syria: Israeli warplanes are generally believed to have struck a convoy en route to Lebanon on January 30"",
although this has not been confirmed by the government of Israel. The convoy was reported to have been carrying
sophisticated antiaircraft weaponry to Hezbollah. The attack—carried out on the outskirts of Damascus—was met
by a sharp threat of retaliation from both the Syrian and Iranian governments: a significant indicator of the regional
reverberations of the Syrian civil war and the general volatility permeating the region.

Despite the lack of progress of an international peace initiative spearheaded by Special Envoy Lakhdar Brahimi,
a new plan by Syrian opposition leader Moaz al-Khatib—comprising a dialogue with President al-Assad based
on the principle of the regime’s departure—offers a glimmer of hope. Upon meeting with al-Khatib on February
3"" the foreign ministers of Iran and Russia (the closest allies of the al-Assad regime) seem to have agreed to help
facilitate this process—an interesting turn of events. The new plan comes as the humanitarian situation continues
to deteriorate, although some help is foreseen from the $1.5 billion in pledges made at a donors’ conference on
January 30° in Kuwait.

Israel: While recent elections kept Netanyahu’s Likud party in the lead by winning 31 of 120 seats in the Knesset,
the new centrist party Yesh Atid’s ability to win 19 seats under the leadership of Yair Lapid garnered all the
attention. The results generated media debate about the possibility of a shift in Israeli policy vis-a-vis the
Palestinians. In fact, the election campaign and its results were centered on domestic and socioeconomic issues,
and internal reform. Furthermore, Yesh Atid is known to maintain an ambiguous stance on the peace process.

On January 29"", Israel became the first country to boycott a United Nations review of its human rights practices,
despite the United States’ and other political players’ advice to participate. This is a breach of an established
practice of cooperation and thus represents precedence for noncooperation by other states. It also leaves the
question of human rights in occupied Palestinian territories outside the jurisdiction of the international
community. It remains unclear, however, whether the newly elected government will make a pragmatic effort to
reengage with the UN review effort.

Bahrain: On January 21‘' King Hamad al-Khalifa issued a decree endorsing a renewed national dialogue.
Subsequently, on February 4"", Minister of Justice Khalid bin Ali al-Khalifa announced that the national dialogue
would resume on February 10"". Press reports indicate willingness by the opposition’s to participate in the
dialogue.

Iran: President Ahmadinejad was warmly welcomed by President Morsi upon arrival in Cairo on February 5""
and, interestingly, by the Sunni leadership of Al-Azhar. The Iranian leader reciprocated by offering to provide
Egypt with a “big credit line” to help its lagging economy, a telling indication of Tehran’s desire for a
rapprochement. The reaction on the Egyptian street, however, was generally negative, revealing thedisconnect
between a dominant Muslim Brotherhood political elite reaching out to an Islamist power and a critical faction of
Egyptian society hostile to this shift. The meeting is not necessarily an indicator that bilateral ties will improve,

HOUSE_OVERSIGHT_029690
"
IMAGES-002-HOUSE_OVERSIGHT_014419.txt,"increase its defense spending. Under Prime Minister Abe, the defense budget has
expanded by 7% but has been kept at roughly 1% of GDP, in keeping with historical
guidelines. This is small by international standards and more likely than not will rise in
the coming years (Chart 24}. The composition of spending is also likely to shift from
operating costs towards procurement, which is currently a very small part of the budget
(Chart 25).

Chart 24: Military spending % of GDP as of 2015—Japan's is low by int'l Chart 25: Breakdown of Japan's defense-related expenditures
standards

6

100%

5
4 50%

2 0%

2000
2003
2004

oOo ore ©
ooo 02
NN NN

2009
2012
2013
2014
2015
2016

owt
QoQ
NN

2001
2002

mJP R&D, facility development, maintenance etc.
0 m JP procurement of equipment

JP UK AU CH FR KR US RU m= JP personnel and food provisions
mwU.S Forces Japan-related cost

Source: BofA Merrill Lynch Global Research, World Bank Source: BofA Merrill Lynch Global Research, Ministry of Defense

TPP and trade policy: potential for linkages with other regional players

Trump and his aides have made it clear that they consider the Trans Pacific Partnership
(TPP) to be a “bad deal.” Media have reported that President Obama is not considering
pushing the deal through a lame duck Congress. This means the deal is likely dead in its
current form.

While negative for Japan, the expected withdrawal of the US from TPP could spur new
arrangements with regional partners. One potential positive is the prospect of improved
economic and trade linkages with other key players in the region, including Russia and
even China. Three upcoming events are worth monitoring closely (Table 2): first, the 19-
20 November APEC Summit in Lima, Peru, where we are likely to see vigorous
discussions on the future of the TPP as well as further progress on the Regional
Comprehensive Economic Partnership (RCEP); second, the 15 December Abe-Putin
Summit, in Yamaguchi prefecture; and third a potential trilateral summit between Japan,
China, and Korea, which onshore media now say is being scheduled for 19-20 December,
though it may not happen given the unfolding leadership upheaval in Korea.

Bullish bottom line - don’t underestimate the recovery

We are optimistic on Japan and think the acceleration in GDP and inflation in 2017 will
be much stronger than consensus expects. For the first time since 2013, fiscal and
monetary policy will be lined up in the same expansionary direction. The global export
cycle has turned and is now tracking modest expansion. Meanwhile, the headwinds to
domestic demand are finally turning into tailwinds. Unlike in the past, we think the risks
of a policy error are low. Assuming that external risks are kept at bay, we think Japan will
surprise with the strength of its recovery.

Bankof America
10 Japan Economics Viewpoint | 18 November 2016 Merrill Lynch

HOUSE_OVERSIGHT_014419
"
IMAGES-008-HOUSE_OVERSIGHT_026019.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

HOUSE_OVERSIGHT_026019
"
TEXT-002-HOUSE_OVERSIGHT_032937.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 11/28/2016 8:22:53 PM 
To: Larry Summers 
http://www.cbsnews.com/news/tom-barrack-donald-trump-presidency-healing-the-nation/ 
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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THE SNOWDEN AFFAIR 


 A Spy Story in Six Parts



By Edward Jay Epstein




                                            CONTENTS



                              PROLOGUE                                 
                       On the Snowden Trail: Hong Kong 2014




                              PART ONE
                       The Intelligence Crisis 



Chapter One                  The Great Divide
Chapter Two                  The Crime Scene Investigation

                               PART TWO

                            Snowden’s Arc



Chapter Three             Tinker
Chapter Four               Secret Agent 

Chapter Five                Contractor

Chapter Six                  Thief

Chapter Seven              Crossing the Rubicon

Chapter Eight               Hacktavist 

Chapter Nine                String-Puller 

Chapter Ten                  Raider of the Inner Sanctum 

Chapter Eleven             Escape Artist 

Chapter Twelve            Whistle Blower

Chapter Thirteen           Enter Assange 

Chapter  Fourteen          Fugitive

                                PART THREE

                  The Counterintelligence Conundrum



Chapter Fifteen          Did Snowden Act Alone
Chapter Sixteen         The Question of When

Chapter Seventeen    The Keys to the Kingdom Are Missing

Chapter Eighteen        The Unheeded Warning



                            PART FOUR
        The Game of Nation



Chapter Nineteen             The Rise of the NSA
Chapter Twenty                 Back Door In

Chapter Twenty-One        The Russians Are Coming

Chapter Twenty-Two        The Chinese Puzzle

Chapter Twenty-Three      The Pawn in the Game




 PART FIVE
            WALKING THE CAT BACK

Chapter Twenty-Four           Dinner with Oliver Stone

Chapter Twenty-Five            Vanishing Act              

Chapter Twenty-Six        through the Looking Glass

Chapter Twenty-Seven         the Handler




                               PART SIX
                               CONCLUSIONS 

Chapter Twenty-Eight       Snowden’s Choices

Chapter Twenty-Nine       The Whistle Blower Who Became an Espionage Source

                                    EPILOGUE  

                            THE SNOWDEN EFFECT



Chapter Thirty                  The ‘War on Terrorism’ after Snowden 
Chapter Thirty-one          America after Snowden: The Good, the Bad and the Ugly





Appendix A                             the Spies in this Book [TK]


                                   End Notes 
                       Bibiography [TK]





                               Chronology 1: Snowden Thriller:
 From Honolulu to Moscow in 82 Days.



April 8, 2013, Honolulu.   Edward Snowden begins working as an infrastructure-analyst in training at the National Threat Operations Center for outside contractor Booz Allen Hamilton. 
June 5, 2013, London   The Guardian publishes a classified document revealing that the National Security Agency has secretly been gathering the telephone billing records of millions of American.  The Washington Post then publishing other secret documents revealing that the NSA has been intercepting data from the Internet. 

June 9, 2013, Hong Kong.      In a 12-minute long video posted on the website of the Guardian, Edward Snowden reveals himself as the source for the document published by the Guardian and the Washington Post

June 11  Hong Kong.  Sarah Harrison arrives in Hong Kong to work behind-the-scenes to assist Snowden. 

June 14, 2013, Washington D.C.        Federal prosecutors in the Eastern District of Virginia, file a three-count criminal complaint against Snowden charging him with theft of government documents,  unauthorized communication of national defense information and the willful communication of classified communications intelligence information to an unauthorized person.  

June 23, 2013, Moscow.    Snowden arrived from Hong Kong at Sheremetyevo International Airport.






                                     PROLOGUE
On The Snowden Trail:  Hong Kong 2014

 The National Security Agency, or, as it now commonly called, the NSA, was created on October 24, 1952, in such a tight cocoon of secrecy that even the Presidential order creating it was classified “Top Secret.”  When journalists asked questions about this new agency, Washington officials jokingly told them that the initials NSA stood for “No Such Agency.”  The reason for this extraordinary stealth is that the NSA is involved in a very sensitive enterprise.  Its job is to intercept, decode and analyze foreign electronic communications transmitted around the globe over from copper wires, fiber optic cable, satellite, microwave relays, cell phone towers, wireless transmissions and the Internet for intelligence purposes. In intelligence jargon, its product is called COMINT. This form of intelligence-gathering is particularly effective when the NSA’s targets are unaware of the state-of-the-art tools the NSA uses to break into their computers and telecommunications and decipher their enciphered messages. 

    In the first week of June in 2013, the NSA learned that a huge number of its most secret files had been stolen.  The suspect was Edward Snowden, a 29 year old civilian analyst at the NSA’s regional base in Oahu, Hawaii, who had fled to Hong Kong. The stolen documents revealed, among other things, the secret tools and capabilities that the NSA employed to do its job.  According to a three-count criminal complaint filed by Federal prosecutors in the Eastern District of Virginia, Snowden had stolen government documents and violated the Espionage Act by the unauthorized and willful communication of national defense information to an unauthorized person.  
This was not a who-dunn-it mystery.  On June 9th, 2013, in an extraordinary 12-minute video made in a cramped hotel room in Hong Kong, Snowden identified himself as the person who had taken the NSA documents.   Watching the video, the world saw a shy, awkward and sympathetic-looking, man wearing a rumpled shirt, rimless glasses and a computer geek-style haircut, passionately speaking out against the NSA’s violations of the law and, in a shaky voice, expressing his willingness to expose them.
   Snowden had an innocent, idealistic, principled look about him, and the world was ready to congratulate him for revealing the NSA's illegal collection of data inside the United States.  But in fact, he stole a great deal more than documents relating to domestic surveillance.  He had also stolen secret documents from the NSA revealing the sources and methods it employed in its monitoring of foreign adversaries.
 What made this theft even more extraordinary was that he got away with it.  By the time it had been discovered in the first week of June 2013, it was not possible for the FBI, the Grand Jury or any other US agency to question him because he had fled the country.  He went first to Hong Kong.  Although it is economically autonomous, the city of 7.2 million is actually a special administrative zone of China, whose national security apparatus is ultimately controlled by Beijing.  Making the possibility of questioning him even more remote, he next went to Russia, a country which has no extradition treaty with the United States.  And Russia granted him asylum.  His escape left in its wake an incredibly-important unsolved mystery: how did a young analyst at the NSA succeeded in penetrating all the layers of NSA security to pull off the largest theft of secret documents in the history of American intelligence?   Did he act alone? What happened to documents?  Was his arrival in Russia part of the plan? 
As I had written several books on the vulnerability of intelligence services, this was a mystery-- a ""how-dunnit"" if you like-- that immediately intrigued me.  After all, even if the perpetrator had acted for the most salutary of reasons, the unauthorized transfer of state secrets to another country is, by any definition, a form of espionage. 

     I decided to begin my investigation of this case in Hong Kong because it was the place to which Snowden first fled after leaving Hawaii.  Snowden had planned the trip for at least 4 weeks, according to the travel plan he had filed at the NSA, I assumed he had a good reason for going first to Hong Kong. But when I spoke to my sources in the intelligence community, they could not explain Snowden’s choice of this semi-autonomous zone in China as his initial destination.  It would not protect him from the reach of US law since Hong Kong had an active extradition treaty with the United States. Just a few months earlier, Hong Kong had made headlines by extraditing Trent Martin, a fugitive wanted in America for insider-trading, who was arrested in Hong Kong following an American request to detain him.  Martin was then sent back to the United States to stand trial.      

Nor was Hong Kong particularly convenient to Hawaii.  There were no non-stop flights to it from Honolulu. Snowden’s flight took 8 hours and ten minutes just to Narita airport, Japan, where he had to change planes. After a three hour wait at the airport, it took him five more hours to fly to Hong Kong.    Moreover, at the time he departed Honolulu, Snowden had not yet arranged for any journalists to meet him in Hong Kong and, as far as US intelligence could determine, he had no known appointments there. Even so, Snowden carried the digital copies he had made of the top-secret NSA documents to Hong Kong.  General Michael Hayden, who served both as the head of the NSA and the CIA, told me.  “It’s very mysterious why Snowden chose Hong Kong.”  Whatever reason he had for flying to Hong Kong, we can assume it was compelling enough for him to take the risk that he would be arrested there after US authorities discovered the theft and invoked the detention provision of its extradition treaty with Hong Kong.  It was possible that Snowden travelled there to see someone other than a journalist. But who?

     Using my frequent travel miles, I bought a ticket on Japan Air Lines to Hong Kong. The route, like that of Snowden’s route the previous year, had a stop-over in Narita Airport in Japan (where, according to an intelligence source, Snowden was caught on the CCTV cameras waiting in the transit lounge for his connection to the four and one half flight to Hong Kong).  

    I arrived in Hong Kong on May 20th 2014– the same day that Snowden had arrived there the previous year.  I checked into the five-star Mira Hotel. It was in the Tsim Sha Tsui shopping district of Kowloon, a 10-minute ferry ride away from Hong Kong island, where most of the foreign consulates are located.

 I chose the Mira because it was the hotel in which Snowden stayed and made the celebrated video admitting his role in taking the NSA documents.  I asked at the front desk for room 1014, the same one that Snowden had occupied in 2013.  Snowden had told the journalists from the Guardian that that he had been at Mira Hotel since he first arrived in Hong Kong on May 20th until he left on June 10th.  My motive in taking the room during that period was not journalistic nostalgia; I wanted access to the hotel’s service and security personnel who may have had contact with Snowden a year earlier.  Unfortunately, that room was occupied.  Even so, I was given a nearby room that served my purpose.  The rate was $330 a day with taxes, although I received a journalist’s discount of 30 percent. 

My first surprise was that Snowden had not arrived at the Mira until 11 days after he arrived in Hong Kong. He told the Guardian reporters that he hid out at the Mira hotel since his arrival because he feared that he might be captured by the CIA.  But, as I learned from the hotel staff, Snowden had actually registered there under his real name and used his own passport and credit card to secure the room.  Even more surprising was the date he checked into the Mira Hotel.  It was not May 20th but June 1, 2013. Since he checked out on June 10, 2013, he was there for only nine days.

    The question that could not be answered by the registry of the Mira Hotel was: where was Snowden staying for the eleven days between from May 20th to June 1?  Wherever he was, he apparently considered himself safe enough to take another irrevocable step in his defection. He sent journalist Glenn Greenwald of the Guardian a “welcome package,” as he called it, of 20 top-secret NSA documents on May 25, 2013.  He had now not only downloaded documents but, in a violation of his oath, he provided them to an unauthorized party.  He also in Hong Kong, for the first time, directly contacted via email Barton Gellman of the Washington Post.  Indeed, it was during these first 11 days during which he was staying someplace other than the place he claimed to be staying that he made almost all the arrangements for his journalistic event.  He was also apparently in contact with at least one foreign mission during this period, according to what he written to Gellman on May 25th. In that email concerning when and how his story was to be published by the Washington Post, Snowden even asked Gellman to include in it some text that would help him with this mission.  But which country was he approaching?  Clearly his whereabouts during these missing 11 days was a gap that needed to be filled in.  It could shed light on why he came to Hong Kong.

     I next called Keith Bradsher, a prize-winning journalist who had been the New York Times bureau chief in Hong Kong in 2013, who had written a well-researched report about Snowden’s arrival in Hong Kong in 2013..  He proposed we meet at the Foreign Correspondent’s Club on top of Ice House Street in central Hong Kong, a venue, I recalled, reminiscent of where John LeCarre had set the opening chapter of his spy novel The Honourable Schoolboy.  When we spoke later, Bradsher told me that he knew Albert Ho, who had been retained as Snowden’s lawyer, for more than a decade, and interviewed him many times as he was a leader of a political movement in Hong Kong. Bradsher said that a few days after Snowden had revealed himself on June 9th, 2013, he met with Ho and questioned him on the very question that intrigued me about Snowden’s unknown whereabouts. Ho told Bradsher that all of Snowden’s logistics had been arranged for him by an intermediary, who Ho called a “carer.”  Ho further said that Snowden had been in contact with the “carer” prior to his arrival in Hong Kong on May 20th.  According to Ho, it was this person who had arranged accommodations for Snowden on his arrival—and afterwards.  If so, it seemed plausible to me that this person might be able to shed light on whom, if anyone, Snowden saw in his first ii days in Hong Kong.  Of course, this person may have been unaware of the reasons for Snowden’s escape to Hong Kong when he made the arrangements for him but he was the best lead I had to learning why Snowden had come to Hong Kong. But who was the “carer?”    Bradsher told me that he pressed Ho for details about this mystery person over the course of several meeting but Ho would not identify him beyond saying, that he was a “well-connected “resident” of Hong Kong.    

   I next called Ho’s law office in Hong Kong. But Ho politely declined to be interviewed by me, saying he had said all he was going to say about the Snowden case.  I next made an appointment with Robert Tibbo, a Canadian-born barrister, specializing in civil liberties cases, who had worked closely with Ho on the Snowden case.  He immediately agreed to see me.  

    I met Tibbo in the tea room at the Mandarin Oriental hotel on Hong Kong Island, where I moved to from the Mira hotel.  The Mandarin was also convenient to Tibbo’s office at the court.

      Tibbo was a tall, round-faced man, with thinning hair, in his early fifties.  He talked freely about his remarkable career.  After earning a degree in chemical engineering from McGill University, and working in Asia as an engineer for a decade, he went to law school in New Zealand, and then became a barrister in Hong Kong specializing in cases involving the legal status of refugees. Over a leisurely tea, Tibbo made it clear to me that he had played a far more active role than Ho in the Snowden case, even personally escorting Snowden from the Mira Hotel on June 10th to a safe house.  He did not dispute what Ho had told Bradsher, but said that he was himself bound by lawyer-client privilege which prevented him from providing me with any details that might reveal the identity of the person who had made arrangements for Snowden. When I asked the date that he was officially retained by Snowden, he said that Snowden had signed an agreement hiring Ho’s law firm as his legal adviser on June 10, 2013 (which was a matter of public record.)  “I understand that,” I said, “but I am inquiring about something that had happened before you became his legal adviser.”  He shook his head, as if getting rid of a pesky fly, and said that his oath precluded him saying anything at all that might do damage to the credibility of his client. “Not even where he was staying in May in Hong Kong,” I persisted.  He leaned forward and, after a brief hesitation, said, jokingly I assumed that he would not divulge that information “even if you held a gun to my head.”  We met two more times but, true to his word, Tibbo would not say if he even knew the identity of the “carer.”

     Meanwhile, Joyce Xu, a very resourceful Chinese journalist who was assisting me in Hong Kong, had filed the equivalent of a Freedom of Information request with the Hong Kong Security Bureau asking for information about Snowden’s movements in May.  Thomas Ng, the Secretary for Security, turned down the request, adding that Hong Kong authorities do not keep records of hotel registrations.  So I ran into a dead end on the issue of Snowden's “carer” and his whereabouts for those eleven crucial days with the Hong Kong authorities.

 At this point, I had some much-needed help from an old friend on the White House staff.  Before I had left New York, I asked him if he could find someone at the consulate in Hong Kong who might brief me on the Snowden case.  I didn’t hear from him until just a few days before I was due to return to New York.  He had managed to put me in touch with a former employee of the consulate, who he said was “fully informed” about the efforts of the US mission to locate Snowden in Hong Kong.  This person was still living in Hong Kong and he agreed to meet with me on condition that I did not mention either his name or his position in the US mission in Hong Kong.  The venue was the terrace lounge of the American Club in Exchange Square in central Hong Kong, a posh club mainly for expatriate Americans. It was on the 48th floor with a spectacular view of Victoria Harbor. Once there, I had no problem finding my source.  He was, as he had described himself, a large man with short-cropped brown hair wearing a brightly-striped tie.  He was sitting alone at a discreet table in the corner.  I introduced myself and gave him a copy of my latest book, The Annals of Unsolved Crime.   

   After ordering drinks, he told me in a soft voice about the American reaction to Snowden’s revelations in Hong Kong. “All hell broke loose,” he said, describing the atmosphere at the US mission after Snowden’s video was posted on the Guardian’s website on June 9th, 2013.   To break the ice, I went over some of the assertions Snowden had made concerning the US consulate in that extraordinary video.  For example, Snowden had said that he could be seized at any moment by a CIA rendition team based at the US consulate “just down the road” from the Mira Hotel. “Was that true,” I asked?   He rolled his eyes, and said, “Snowden has a pretty wild imagination.  For one thing, the US consulate is not down the road from the Mira in Kowloon, it is here on Hong Kong Island. And there was no CIA rendition team in Hong Kong.”     

My next question concerned a second period during which Snowden's whereabouts are unknown—the period between the time he left the Mira Hotel on June 10, 2013 and the day he left Hong Kong for Russia on June 23, 2013.  When I asked my consulate source whether the US mission took any action to track Snowden during these 13 days, he explained that the FBI had a contingent of “legal attaches” based at the consulate to pursue, among other things, video pirates. In addition, the CIA and the Defense Intelligence Agency had a handful of “China-watchers” in Hong Kong. This group constituted the intelligence “mission,” as he referred to it.  After Snowden outed himself on the Internet, the mission began tracking Snowden’s movements. Since Snowden, his lawyers and the journalists in his entourage frequently used their cell phones to text one another, it was fairly easy for the mission to follow Snowden’s trail after he left the Mira hotel. Presumably, the Hong Kong Police also knew where he was during this period.  My source further suspected that the massive Chinese intelligence contingent in Hong Kong also knew, since it had close relations with the Hong Kong police.  If so, Snowden’s whereabouts as he moved every few days from apartment to apartment was no secret anyone but the public from June 10th to June 23rd. “Of course we knew,”   he said, adding that there were also photographs of Snowden entering the office building that housed the Russian consulate.  I mentioned that there was a report in a Russian newspaper that Snowden had visited the Russian consulate in late June in connection with the flight he later took to Moscow.  “All we know is he entered the building,” he answered, with a shrug.    That visit did not come as a complete surprise to US intelligence.  After Snowden left the Mira, his interactions with the Russian and Chinese intelligence services in Hong Kong also had been closely monitored by the “secret means,” as was subsequently confirmed to me a former top intelligence executive in Washington DC.  All of Snowden’s stealth in exiting from the Mira hotel, which included wearing a baseball cap and dark glasses, was ineffective in hiding him from US intelligence and presumably other intelligence services seeking the treasure trove of documents he had taken from the NSA.  Among other things, the Hong Kong lawyers moving him to a safe house were carrying easily traceable cell phones. 

   The mystery that most concerned me was, however, not where Snowden was housed in the interim between when he went public and when he went to Moscow. It was where, and in whose care, Snowden had been before, he had checked into the Mira hotel on June 1st.   When I asked him about this period, he said that as far as he knew neither the FBI nor the Hong Kong police could find a trace of him during the period between May 20th, when he passed through Hong Kong customs, and June 1st, when he used his credit card and passport to check into the Mira hotel.  They could not find any credit card charges, ATM withdrawals, telephone calls, hotel registrations, subway pass purchases or other clues to Snowden’s activities.   As far as a paper trail was concerned, Snowden was a ghost during this period.  Could an American just vanish in Hong Kong for eleven days, I asked”?   “Apparently he did just that,” my source replied.

Snowden’s whereabouts during these 11 days was not a mystery I was going to solve on this first trip to Hong Kong.  I needed to know more about Snowden’s activities before he flew to Hong Kong. After all, Snowden was not, as he himself pointed out from Moscow, an “angel descending from the heavens.”  He had a past working for the US government that extended back seven years. During that period, he had been part of America’s secret intelligence regime, and held a clearance for Sensitive Compartmented Information, or SCI.  Such SCI material is considered so sensitive that it must be handled within formal access control systems established by the Director of National Intelligence.

Nor did Snowden’s breach begin with him handing over classified documents to the Guardian reporters in Hong Kong in June 2013 or, for that matter, in the eleven days prior to his meeting with journalists in 2013. He had, as the NSA quickly determined begun illicitly copying documents in the late summer of 2012.  Such an enterprise does not emerge from thin air.  Even if he had managed to elude American intelligence from late May to early June 2013, he could not hide all the history that led to his decision to come to Hong Kong.   There had to be an envelope of reality surrounding it, including Snowden’s motivation, associates, movements, finances, and his  activities prior to his fleeing to Hong Kong.  What was missing was not just Snowden’s first 11 days in Hong Kong but the entire context of the alleged crime.    I now needed to fill in that envelope of reality in America. I left Hong Kong for New York on June 2, 2014 two days after my meeting with the former official of the consulate.  






PART ONE          


THE INTELLIGENCE CRISIS



CHAPTER ONE
The Great Divide



“What you’ve seen so far is just the tip of the iceberg.”
                             -- retired Admiral Michael McConnell, vice chairman of Booz Allen Hamilton



    On June 9, 2013, the Guardian, the British newspaper known for the quality and gravity of its reporting posted Snowden’s 12-minute video on its website.  In it, Snowden identified himself as an infrastructure analyst at a regional base of National Security Agency that was located in Oahu, Hawaii.   He revealed in a calm, unemotional voice that he had been the source for the stories in both the Guardian and the Washington Post.  He said that he had supplied the secret, classified documents that the two newspapers had used in their scoops about domestic surveillance being conducted by the NSA, America’s enormous electronic surveillance agency.  These sensational revelations had been, literally, the talk of the world, and now, in another major news event, the boyish-looking Snowden revealed his responsibility for what would turn out to be the largest theft of top-secret documents in the history of U.S. intelligence.  
   In the video, Snowden was questioned by Glenn Greenwald, an American journalist living in Brazil who had broken the NSA story in the Guardian.  What was his motive? Greenwald asked.  Why did he do it?  Snowden replied that he had become horrified by the NSA’s secret operations which, to him, represented a kind of distillation of the excesses of the American national security state, and he therefore made it his mission to blow the whistle.  He believed that the public needed to be informed of the existence of a vast, secret surveillance operation directed against tens of millions of Americans that flagrantly violated US laws and was a grave threat to their privacy and their freedoms.    Within hours of the release of that video on the Guardian website, Snowden was one of the most famous people in the world, celebrated by his supporters as a courageous whistle-blower.  

    The Snowden interview in the video subsequently was expanded by the documentary filmmaker Laura Poitras into the two-hour movie CitizenFour, which won the 2015 academy-award for the best documentary.  Poitras said in accepting her Oscar in the Academy Awards Theater in Hollywood on February 22nd 2015, that Snowden acted as a whistle-blower not only to “expose a threat to our privacy but to our democracy itself.”  She received a standing ovation.  The film convincingly depicts Snowden as an altruistic young man who is willing to risk his own personal freedom and face years of imprisonment for the sake of others.  Adding to the drama, almost all the footage of Snowden in the film is from interviews with him in the confines of Snowden’s small room at the Mira hotel from June 3 to June 9th, 2013, as the event was actually unfolding.  Snowden, speaking for the camera, describes himself as a civilian contractor for the National Security Agency.  He took full responsibility for the theft of classified documents, saying that he had acted alone. He said that he had been forced to take these documents to expose a crime that threatened the freedom of Americans: the US government’s illegal surveillance of US citizens.  He said that he had a duty to bring this secret activity to the attention of the American people.      “Sitting on his unmade bed—white sheets and covers, white headboard, white bathrobe, white skin—Snowden seems like a figure in some obscure ritual, being readied for sacrifice,” George Packer wrote about the film in a widely-read article in The New Yorker.   He said repeatedly he was willing to make the ultimate sacrifice, by allowing himself to go to prison, so that Americans could live in freedom.  A large part of the public, who viewed this powerful film, including many of my colleagues in journalism whose writing I greatly respect, came to accept Snowden’s whistle-blowing narrative.   

This powerful narrative, as lucidly articulated by Poitras, Greenwald and other Snowden supporters, described the NSA activities exposed by Snowden as part of a vast criminal conspiracy involving, among others, President Obama, James Clapper, the Director of National Intelligence and both Democrat and Republican members of the Congressional oversight committees.  It further derided claims that there was evidence that Snowden’s theft of NSA secrets went beyond exposing government misdeeds as part of an orchestrated effort to demonize Snowden.  The purpose of this demonization was to divert away from the government’s crimes.  For example, this narrative asserted as if it was established fact, that US government officials had deliberately “trapped” Snowden in Russia.  According to Snowden, the purpose of this government ploy was to “demonize” him.

      To be sure, it is not unprecedented for the government to release defamatory information about individuals who have embarrassed US intelligence by defecting.  When two NSA analysts, William Martin and Bernon Mitchell, defected to Russia in the 1960s and accused the NSA of violating international law after arriving in Moscow, U.S. government officials responded by putting out the story that they were homosexual lovers, which was both untrue and irrelevant to the intelligence secrets that they compromised.   So it is certainly possible that the government put out information to intentionally defame Snowden.  Secretary of State John Kerry, after all, characterized him as a coward who should “man up” by returning to the United States. 

 While one can discount such characterizations against him by government officials as demonization, as I do, one cannot as easily dismiss the independent evidence that undermines Snowden assertion that his sole motive was blowing the whistle on illicit surveillance in the United States.   For example, by the Lawfare Institute in cooperation with The Brookings Institution in 2014 did an independent analysis of all the published documents that Snowden provided to the media.   It concluded that, with some notable exceptions, such as the two documents initially published by the Guardian and Washington Post, the now famous FISA warrant and the PRISM slides, few of the other documents that Snowden had given Poitras and Greenwald for publication had little to do with either domestic surveillance or the infringements on the privacy of Americans.  By the Lawfare Institute’s count, 32 of Snowden’s leaks to these journalists concerned the NSA’s overseas sources and method, nine identified overseas locations of the NSA’s intelligence bases, 25 of them revealed the identities of foreign officials of interest to US intelligence agencies, 14 of them disclosed information about Internet companies legally cooperating with the NSA, and 19 of them concerned technology products that the NSA had been using or researching.   In addition, a considerable number of the published documents did not even belong to the NSA but were copies of reports sent to the NSA by its allies, including the British, Australian, Canadian, French, Norwegian and Israeli intelligence services.  For example, he provided journalists with secret documents from the British cyber service GCHQ describing its own plans to obtain a legal warrant to penetrate the Russian computer security firm Kaspersky to expand its “computer network exploitation capability."" All the GCHQ was revealing in this document was its own capabilities to monitor a Russian target of interest to it.   While the release of these foreign documents may have embarrassed foreign allies of the United States, they exposed no violations of US law by the NSA.  It was a legitimate part of the NSA’s job to share information with its allies.  This raises the question: what constitutes whistle-blowing?

    To the general public no doubt, a whistle-blower is simply a person who exposes government misdeeds from inside that government.     But in the eyes of the law someone who discloses classified information to an unauthorized person, even as an act of personal conscience, is not exempt from punitive consequences of his act.   Indeed, if a person deliberately reveals secret US operations, especially ones that compromise the sources and methods of US intelligence services, he or she may run afoul of American espionage laws.   

In the past when government employees have disclosed classified information to journalist to redress perceived government misconduct, they almost always received prison sentences, Just during Obama’s presidency, there were six government employees who, as a matter of personal conscience, shared classified information they obtained from the FBI, CIA, State Department and US Army with journalists.  They were Shamai Leibowitz in 2010, Chelsea Manning in 2013, John Kiriakou in 2013, Donald Sachtleben in 2013, Stephen Kim in 2014 and Jeffrey Sterling in 2014. Like Snowden, they claimed to be whistle-blowers informing the public of abuses of the government.  But since they disclosed classified documents, they were dealt with as law-breakers.  All six men were indicted, tried, convicted and received prison sentences.  Sterling, a CIA officer who allegedly turned over a document to James Risen, a Pulitzer Prize winning reporter for the New York Times, was sentenced to 42 months, for example.  The most severe sentence was meted out to Private Bradley/Chelsea Manning, who an Army court sentenced to 35 years in a military stockade.  

    The prison time that others received did not go unnoticed by Snowden.  He had been following the Manning case since 2012.  In fact, he posted about it shortly before he began stealing far more damaging documents than had Manning. He therefore would have been aware that by revealing state secrets that he had sworn to protect, he would be risking imprisonment unless, unlike Manning, he fled the country.  His motives, no matter how noble they might be, would not spare him, anymore than it spared the other six, from determined federal prosecution.  

To be sure, the view of those  on the Snowden side of the divide is not grounded in legal definitions, but in a broader notion of morality.   Snowden‘s supporters do not accept that the law should be applied in this fashion to Snowden. They argue that Snowden had a moral imperative to act, even if it meant breaking the law.  They fully accepted his view that he had a higher duty to protect citizens of all countries in the world from, as he put it, “secret pervasive surveillance.” That higher duty transcended him any narrower legal definitions of law-breaking.  For example, Ben Wizner, a lawyer from the American Civil Liberties Union who represented Snowden since November 2013, argues that Snowden’s taking of classified documents was as “act of conscience” that overrode any legal constraints because it “revitalized democratic oversight in the U.S.”  And, without question, Snowden’s theft caused a much needed debate on govern surveillance.  

In this ends- justify-the-means view, any person with access to government secrets can authorize himself or herself to reveal those secrets to the world if it serves the public good and because doing so would be an “act of conscience,” he or she should be immune from legal prosecution. 

    So for Snowden’s supporters, his “act of conscience” justifies his claim to being a whistle-blower even though the preponderance of the secrets disclosed by Snowden had to do with the NSA’s authorized activity of using its multi-billion dollar global arrays of sensors to intercept data in foreign countries and share it with some 30 allied intelligence services, as it did in 2013. Snowden, for example, took the NSA to task for its sharing information with Israel. In an interview in Moscow with James Bamford for Wired Magazine in August 2014, Snowden describes supplying intelligence to Israel as “One of the biggest abuses we’ve seen.” He was referring to the NSA providing the Israeli Cyber Service, known as Unit 8200, with data concerning Arab communications in Gaza, the West Bank, and Lebanon.  But providing Israel with such data, as well as providing it with lethal weaponry, was not some rogue operation. It was part of a policy that had been approved by every American President—and every Congress—since 1948.    Snowden had every right to disagree with this established US policy of aiding Israel with intelligence, but it is another matter to release secret documents to support his view. If the concept of whistle blowing is expanded to cover intelligence workers who steal secrets because they disagree with their government’s foreign policy of their government, it would also have to include many notorious spies, such as Kim Philby.

Snowden’s concept of whistle-blowing also applied to NSA’s spying on adversary nations.  “We’ve crossed lines.”  Snowden said in regard to China, “We’re hacking universities and hospitals and wholly civilian infrastructure.”   The NSA’s operations against China were such “a real concern” for Snowden that he targeted lists of the NSA’s penetrations in China.  This expansion of the whistle-blowing concept to adversaries was echoed by Russian President Vladimir Putin. He complimented Snowden for having “uncovered illegal acts by the United States around the globe,” Putin’s view implies a convenient global concept of whistle-blowing that justified breaking US laws.   

Even so, this whistle-blower interpretation of Snowden’s act has had immense international resonance in the media. The Washington Post and Britain's Guardian, the newspapers that initially published the purloined documents, won the 2014 Pulitzer Prize. The journalists, who assisted Snowden in this enterprise, including Greenwald and Poitras, were awarded the 2014 Polk Award for national-security reporting. Former Congressman Ron Paul organized a clemency petition in February for Snowden, stating: ""Thanks to one man's courageous actions, Americans know about the truly egregious ways their government is spying on them,"" and his son, Senator Rand Paul, who was a candidate for the Republican Presidential nomination in 2016, calling for a Presidential pardon for Snowden.

    Senator Paul’s concern fitted with the growing public apprehension over increasing intrusion on its privacy.  Snowden was correct, in my opinion, in describing the threat of a surveillance state and the loss of privacy is certainly a legitimate public concern.  “We actually buy cell phones that are the equivalent of a network microphone that we carry around in our pockets voluntarily,” he pointed out from Moscow. 

Snowden is correct that the technology involved in the electronic equipment we all use in the 21st century has made mass surveillance part of our daily life.  There can be little doubt that our privacy has been largely eroded, if not entirely negated, by the widespread use of cell phones, credit cards, social media and the search engines of the Internet.  When we use smart phones, as most Americans do today, our location is relayed to our telephone service provider every three seconds.  The phone companies collect and archive our phone usage “metadata,” which includes whom we called and how long we spoke.  When we use Google to search for anyone or anything on the Internet, that activity is captured by Google, a company whose profits mainly come from making available to advertisers the results of its surveillance and collection of its users’ searches.  When we use Gmail, the Google’s email service used by nearly one-billion senders and recipients, we agree to allow Google to read the actual contents of our correspondence to find keywords in them of interest to advertisers.    When we use a credit card, the credit card company also retains data about what we buy and where we go.  When we travel in automobiles equipped with GPS, every turn and stop is tracked and recorded.  And when we are in public places with CCTV cameras, our image is recorded and archived.  When we use Facebook, Twitter,  and other so-called social media, as over two billion people do today, we allow these companies to collect, retain and exploit its surveillance of our movements, associations with other people, and stated preferences.   When we use Amazon and other on-line stores, we allow them to track and archive a great deal of our commercial activity.  For Internet companies, such as Facebook, Twitter, Yahoo and Google, collecting private data on hundreds of millions of their members provide them with vast searchable data bases that they can sell to advertisers and other search parties.  The exploitation of these data bases is a fundamental aspect of their business plans.  Without such surveillance of their users, social media companies would not be able to turn a profit.  Indeed, they may be more aptly called surveillance media rather than social media.  For those of us who use them to post pictures and communicate, any notion of personal privacy is largely illusionary.

    To be sure, there is a distinction to made between the surveillance of our activities to which we voluntarily agree in exchange for the benefits and conveniences that we gain from social media, search engines, and other Internet companies, and the surveillance done by government to which we do not voluntarily invite-- or want.  We willingly waive our privacy for corporations but not for governments.  What the public might not fully realize, however, is that all the personal information in data bases of private companies can be accessed by the government if it obtains a court order or search warrant.   As Snowden himself pointed out,  “If Facebook is going to hand over all of your messages, all of your wall posts, all of your private photos, all of your private details from their server, the government has no need to intercept all of the communications that constitute those private records."" These Internet companies, even if they are only interested in exploiting the data for its own profit, cannot refuse to share this information with the NSA, FBI and other agencies of the government if they have a court-ordered search warrant, Consequently, all the information these private corporations collect about us is legally available to any municipal, state and federal authority that obtains a warrant from a court.  And such search warrants are routinely issued.  That reality became evident to me in my investigation of the rape charges brought (and subsequently dropped) against Dominique Strauss- Kahn, the managing director of the International Monetary Fund, in 2011.  Immediately after his arrest, Cyrus Vance Jr, the district attorney of New York county, obtained  a warrant for Strauss-Kahn’s cell phone records, credit card records, hotel room electronic key records,  emails, room service bills, and the CCTV videos of his activities (some of which I published in my article about the case in the New York Review of Books).     If anyone doubts the pervasiveness of government data collection, consider a little known government agency called the “Consumer Financial Protection Bureau.”  Created in 2010 by Congress, it mines data on a monthly basis from some 600 million personal credit card accounts, targeting about 95 percent of the credit cards users in the United States.    In additions, through 11 other data mining programs, it gathers data on everything from private home mortgages and student loans to credit scores and overdrafts in personal banks accounts.  This ubiquitous surveillance of virtually every non-cash transaction came about because of advances in computer technology which made it economically feasible to mine data.   


Nor is the concern raised by Snowden about NSA domestic surveillance misplaced. Ever since the 9-11 attack the NSA has increasingly played a role in this surveillance state not by own choice but because Congress mandated it.  In 2001, it empowered the NSA to obtain and archive data on American citizens. Accordingly, the NSA obtained the billing records of customers from phone and Internet companies and archived these records.  The operation was intended to build a searchable data base for the government that could be used to trace the history of the telephone and Internet activities in the United States of FBI-designated foreign terrorists and spies.   The government also kept secret these anti-terrorist programs from the public because it did not want the foreign suspects to realize their communications in America were being monitored.   The public only learned that the phone company was turning over its billing records on June 5, 2013, when Snowden disclosed it to the Guardian and Washington Post.  The documents he provided the journalists showed that the NSA had been obtaining phone records every three months that had been collected by Verizon.  While this revelation may have shocked the American public, the NSA had not acted on its own.  It had obtained a warrant issued by a secret court established by Congress in 1978 as part of the Foreign Intelligence Surveillance Act (FISA) for each request for records.  Congress empowered the FISA court to hear cases and authorize search warrants in secret in cases involving national security.  As its name implies, the FISA court was meant to deal with matters bearing on foreign intelligence activities in the United States.  That restriction changed after the devastating terrorist attacks of September 11, 2001.  A month after the attack, Congress expanded the purview of the FISA court by passing the USA Patriot Act (an acronym which stands for “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism”).  Part of the Act, Section 215, euphemistically referred to as the ""library records"" provision, permitted the FISA court to issue warrants authorizing searches of records by the NSA and other federal agencies to investigate international terrorism or clandestine intelligence activities  Through these FISA authorizations, the NSA could obtain ""tangible things"" such as ""books, records, papers, documents, and other items.""   Under the interpretation of this section of the law by both the Bush and Obama administrations, the FISA court was enabled by Congress to issue warrants to telephone companies demanding that they turn over to the NSA the bulk billing records of all calls made in America.. The FISA court need only deem these records to be “relevant: to the FBI’s investigations of terrorists and spies.  Essentially, this controversial interpretation of the word “relevant” in Section 215 by the FISA court was used by the NSA to create a searchable database of telephone billing records.   Such a “haystack,” as the NSA called the national collection of billing records, could allow the FBI to instantly find missing “needles,” even if the connections were made years earlier.   For example, if the FBI had a lead on a foreign suspect, it could search the data base for any telephone calls made by the foreign suspect to telephone numbers in America, and then who those people called.  The FBI always had this power, if it obtained a warrant, but it did not have the records previously in a single data base.   General Alexander believed such a “Haystack” database made sense.  His approach was, ‘Let’s collect the whole haystack,’ ” according to one former senior U.S. intelligence official quoted by the Washington Post. According to its critics, including the ACLU, the results provided by this vast database did not justify its immense potential for abuse.   In early May 2015, just three weeks before this part of the Patriot Act was set to expire, a three-judge panel of the Second U.S. Circuit Court of Appeals in New York, agreed with the ACLU position, overturning a lower court decision that it was legal. The panel found that the word “relevant” in the Act was not intended by Congress to justify the acquisition and storing of the bulk records of telephone companies.  It declared that the government’s interpretation of Section 215 of The Patriot Act was incorrect.  Soon afterwards Congress replaced the Patriot Act with the USA Freedom Act, which effectively transferred bulk storage of billing records from the NSA to the phone companies themselves. Despite the change in venue, the records of individuals were still not completely private.   The databases held by phone companies could still be searched under the new law via a FISA warrant by the FBI.      

   The core of Snowden’s charge in the media was that the FISA court overreached its authority by issuing sweeping warrants that allowed the NSA to obtain data collected by private phone and Internet companies.    It the initial story published in the Guardian on June 5, 2013, Snowden disclosed one such FISA warrant to support his charge.   It was issued by Judge Roger Vinson of the FISA court on April 25, 2013 and ordered Verizon to turn over to the FBI all its billing records of landline customers for the next 90 days. The FBI presented this FISA authorization to the NSA, which acts as a service organization for the FBI and CIA in collecting communications data. The NSA, with the FISA warrant in hand, then obtained the Verizon billing records.  Snowden also provided the Washington Post and Guardian with another secret document, which was actually a power point presentation on 20 slides by the NSA to other intelligence agencies.  It described a program it was using for monitoring the Internet. Its code name was PRISM.  It was authorized under Section 702 of the Foreign Intelligence Surveillance Act and was designed to collect messages sent over the Internet from foreigners.  Since most of the Internet pipes that carried these messages ran through the United States, the NSA intercepted a large part of the data from Internet companies based in America.  This program was not entirely secret from the Internet companies.  Such information was in fact obtained with FISA court approval and with the knowledge of the service providers.  It also requires a written directive from both the Attorney General and the Director of National Intelligence, and a review by the Department of Justice every three months of each case.   After obtaining this data, the NSA ran programs to filter out all domestic Internet communications.  In theory at least, PRISM targeted foreign communications, but, as Snowden pointed out, domestic information was also accidently picked up.  Whenever the Justice Department actually opened an investigation against Americans in contact with foreign suspects, as it did in 170 cases in 2013, it could obtain warrants from the FISA court to search these Americans’ Internet activities. So though PRISM supposedly was a tool for foreign surveillance, it could be extended to Americans in contact with foreign suspects. 

These two documents raised legitimate questions for many Americans, including members of Congress, about the proper role of the FISA court, including should it conduct its business in secret?   If Snowden had released only these two documents that related to unwarranted domestic surveillance, and other possible violations of the law by the NSA, it would be difficult for any reasonable person not to see his actions as a valuable and even necessary public service.  After all, as the three-judge panel of the Second U.S. Circuit Court of Appeals would later find, Congress had not intended Section 215 of the Patriot Act to be used to justify the bulk collection of American records.  So if he had limited his illegal downloading to the few documents about bulk collection, it would be more difficult to argue that he was not a whistle-blower in spirit if not in the letter of the law and even a hero of the struggle to preserve our civil liberties.  But, in fact, he took a great many other secret documents that did not bear on civil liberties issues.

    As a result, the Snowden case produced a great divide in the American appreciation of him.  On one hand, he has been almost universally lauded and lionized by what might be seen as the mainstream media, by numerous academics, and even, as we have seen, by members of Congress.  The journalists who assisted him, such as like Greenwald, Poitras and/ Gellman also have been celebrated for the roles they played in bringing Snowden’s revelations to the public.    In other circles, the appreciation had been of him has been very different. American and British intelligence officials, senior members of the Obama Administration, and members of the oversight committees of Congress do not view Snowden as a hero or even an authentic whistle-blower.  Instead they see him as a betrayer of secrets who, acting willfully brought damage to the United States and benefits to its adversaries. The holders of this darker view of Snowden base it on classified reports of the full extent of the theft of classified data.  Those officials reckon that only handful of the tens of thousands of documents he stole involved domestic surveillance, and these few documents served as a cover for a much larger theft.   Admiral Michael Rogers, who replaced General Alexander as head of the NSA in January 2014, said that March at a public forum at Princeton University. “Edward Snowden is not the ""whistleblower"" some have labeled him to be.” He further explained to Congress: “Snowden stole from the United States government a large amount of classified information, a small portion of which is germane to his apparent central argument regarding NSA and privacy issues.”   Gen. Martin Dempsey, the chairman of the Joint Chiefs of Staff, went even further.  He testified to the House Armed Services Committee on March 6, 2014, after estimating that the Snowden breach could cost the military “billions” to repair, added that ""The vast majority of the electronic documents that Snowden exfiltrated from our highest levels of security had nothing to do with exposing government oversight of domestic activities.""     He based this assessment on then still-secret Defense Intelligence Agency’s report on the breach.  Although he did not reveal the full extent of the damage even in  his classified testimony to Congress in 2013,  the classified DIA report showed that Snowden took ""over 900,000"" military files from the Department of Defense (DoD) in addition to the NSA files he had taken..  The Defense Department loss in terms of the number of files stolen actually exceeded the loss, in sheer numbers, of NSA documents.   Lieutenant General Mike Flynn, the DIA director, who directed the DIA secret study, testified to the Senate Select Committee on Intelligence that the breach “has caused grave damage to our national security.”

To be sure, this was not the first time that the cryptological branches of the military had been compromised.  The spy ring of John Walker had provided thousands of the Navy’s reports on breaking Russian ciphers to the KGB during the Cold War era, for example.  But the Snowden breach exposing military sources was an order of magnitude greater than any past breach.

    The CIA’s assessment was no less grim.  Michael J. Morell, the deputy director of the CIA in 2013, who, after Snowden’s breach, was appointed by President Obama to the task force to review the NSA’s intelligence breach and its consequences for national security, wrote that Snowden’s action went beyond taking the handful of documents, such as the FISA order, “that addressed the privacy issue.” Instead, as Morell put it, “he backed up a virtual tractor trailer and emptied a warehouse full of documents—the vast majority of which he could not possibly have read and few of which he would likely understand—[and] and he delivered the documents to a variety of news organizations and God knows who else.”     As a result, Morell concluded “Snowden’s disclosures will go down in history as the greatest compromise of classified information ever.” 

General Keith Alexander, the head of the NSA at the time, came to a very similar assessment, asserting that Snowden did “the greatest damage to our combined nations’ intelligence systems that we have ever suffered.”   To be sure, it is to be expected that military intelligence officers would not be on Snowden’s side of the divide (and the Snowden breach ended the career of many of them, including General Alexander.)
   But political leaders in both parties could also be found on the anti-Snowden side of the divide.   “I don’t look at this as being a whistle-blower.”  Senator Dianne Feinstein (D. - Calif.), the head of the Senate Intelligence Committee, said after she was briefed on Snowden's theft of documents.  ""I think it’s an act of treason.""  Rep. Mike Rogers, (R.-Mich.), her counterpart on the House Intelligence Committee, said on the NBC program, “Meet the Press,” that Snowden might be working for a foreign intelligence service.  And a former prominent member of President Obama's cabinet went even further, suggesting to me off the record in March this year that there are only three possible explanations for the Snowden heist: 1) It was a Russian espionage operation; 2) It was a Chinese espionage operation, or 3) It was a joint Sino-Russian operation.     These severe accusations generated much heat but little light. They were not accompanied by any evidence from these Congressional leaders showing that Snowden had acted in concert with any foreign power in stealing the files or, for that matter, that he was not acting out of his own personal convictions, not matter how misguided they may have been.    
     On this side of the divide, Snowden's critics regard the whistle blowing narrative as at best incomplete, and at worst fodder for the naive.  They point out that the FISA document that gave him credentials as a whistle-blower was only issued in the last week of April 2013, which was three months after he first contacted Greenwald and almost 9 months after he began illegally copying secret documents.   They further believe that the evidence contradicts Snowden’s claims that he stole only documents that exposed NSA transgression into domestic surveillance, that he turned over all the stolen documents to journalists, and that he was forced to remain in Moscow by the actions of the US government.  They believe that all three of these claims, which are at the conceptual basis of the whistle blowing story, are false.  They also find that the unprecedented size and complexity of the penetration of NSA files, compromising hundreds of thousands of secret documents pertaining to US operations against adversary nations, according to the NSA’s and Pentagon estimates, does not afford an innocent explanation for the volume of files he took.
The deep split in how Snowden is perceived brings to mind the famous drawing of a duck

-rabbit cartoon first published in 1900 in the book Fact and Fable in Psychology.  The figure is perceived either as a duck or as a rabbit but it cannot be seen as both simultaneously.  Whether a person sees a rabbit or duck in this test may depend on the information available to that person.  For example, if the person has never seen an image of a rabbit before, he will see almost certainly see a duck; and vice versa.

     Similarly, what may account for the sharp divide between the Snowden and anti-Snowden camps is a disparity in the available information. The pro-Snowden camp's view is largely informed by Snowden himself.  It prefers to believe his words over his actions.

 In the anti-Snowden camp are administration officials and the members of the House and Senate intelligence oversight committees who have been at least partially briefed on the continuing investigations of the Snowden affair. The members of the Senate Intelligence Committee, for example, were briefed by David Leatherwood, the director of operations of the Defense Intelligence Agency that the military files compromised by Snowden  included documents bearing on military plans and weapons systems; foreign government’s intelligence activities (including special activities), intelligence sources, or methods or cryptology; 

Scientific and  technological matters relating to national security;;  vulnerabilities systems, installations, infrastructures, projects, plans, or protection services relations to national security and the development, production, or use of weapons of mass destruction.  The members of the House and Senate Intelligence Committees, but not the public, also have been privy to an NSA investigation that established the chronology of his actions, including changing jobs, copying more than one million classified documents at the Signals Intelligence Center in Hawaii and flying to Russia.

    Nor does additional information necessarily change the minds of people who already have a firm view.  In the field of social psychology, the testing of “confirmation theory” consistently shows that people tend to more readily reject new information that contradicts their pre-existing beliefs.  For example, when Lee Harvey Oswald was arrested in the Texas Theater on November 22, 1963, he said famously, “I haven’t shot anybody.” Ten months later, the Warren Commission presented evidence, including ballistic tests that it claimed showed that Oswald had shot three people, including President John F. Kennedy, less than an hour before making his statement. Yet, many of those who believed Oswald’s public proclamation his innocence chose to believe that the government had falsified all the incriminating evidence to tarnish Oswald (who had been killed on November 24, 1963) rather than accept that they had been wrong in believing Oswald.
The charges, countercharges and defamatory name-calling in the Snowden case therefore only deepened the great divide.  Those who saw Snowden as a democratic hero exposing the abuses of power of an out-of-control national security state tended to dismiss anything that depicts Snowden in a negative light as a fabrication while those who saw Snowden as a “traitor” tended to dismiss anything that depicted him in a more positive light.    

   When it comes to the murky universe of spy agencies, the problem in deciding where the truth lies is further heightened by the possibility of deliberate deception.  Spy masters are, after all, in the business of concealing their most sensitive operations. It is often considered essential that important secrets be protected by what Winston Churchill famously termed “a bodyguard of lies.”  Top intelligence officials are not exempt from this practice.  Consider, for example, the response to a question concerning the NSA’s operations made by James D. Clapper, the Director of National Intelligence to the Senate Intelligence Committee on March 12, 2013. Senator Ron Wyden (D-Oregon) of the Committee asked the spy master if the NSA collected data on Americans.  Clapper answered that the NSA did not knowingly “collect any type of data” on millions of Americans.   Clapper’s answer was clearly untrue. However, it did not mislead Senator Wyden or any other members of the Senate Intelligence Committee because Clapper had truthfully testified that the NSA did collect American’s telephone records in a classified session of the Committee earlier that week.  Who was being misled was the American public.  Yet, none of the Senators on the Committee, including Senator Wyden, corrected this obviously false answer.  When Clapper realized he had misspoken, he could not publically correct the record of the public session because, to do so, would be revealing classified information he had swore to protect. No doubt other intelligence officers find themselves in a similar bind in discussing secret matters.  This suggests that there is a risk in accepting statements made by the intelligence chiefs at face value.

    But Snowden also has a credibility problem. He has told numerous untruths including ones calculated to help him insinuate himself into the key position from which he stole secrets and to cover up the nature of his theft.   For example, Snowden got access in the spring of 2013 to the super-secret NSA’s computers storing these electronic files by working at Booz Allen Hamilton, a hedge-fund owned consulting firm, that helped manage computer systems at its Kunia base in Hawaii.     On his application to Booz Allen in March 2013, Snowden claimed to be in the process of completing a master’s degree at the University of Liverpool in computer security sciences, which he expected to get that year.  Although he had registered two years earlier at the online division of  University of Liverpool, he had not completed a single course there and, according to the registrar, he was not in line to receive a master’s (or any) degree.    To be sure, Snowden did not lie gratuitously.  He told untruths to get access to classified documents and to get safely away with them. 

He also was not entirely truthful with journalists whose trust he sought when it suited his purpose in protecting himself.  For example, in contacting Laura Poitras under the alias Citizen Four in January 2013, he gave her his word that he was currently a “government employee,” although in fact he was working for a private contractor at the time. 

Snowden had little concern about misleading journalists when it suited his purpose.  For example, he told Alan Rusbridger of the Guardian, Brian Williams of NBC News, James Bamford of Wired Magazine, Katrina vanden Heuvel of the Nation, Barton Gellman of the Washington Post and Jane Mayer of The New Yorker that the U.S, government intentionally acted to “trap” him in Moscow by revoking his passport while he was already on a plane to Moscow on the afternoon of June 23, 2013.  Although he had first made this charge on July 1, 2013, none of these journalists asked Snowden what was the basis for his oft-repeated allegation.  He did admit, however, during the Q&A following his July 12, 2013 press conference in Moscow that he had no independent source, sating t he had “read it” in the news reports.  In fact, news stories prior to his statement reported that his passport had been revoked before he had left Hong Kong on June 22nd, 2013.  ABC News, for example reported that the U.S. ""Consul General-Hong Kong confirmed Hong Kong authorities were notified that Mr. Snowden's passport was revoked June 22.”  By the date to June 23rd, Snowden effectively provided to unsuspecting journalists an alibi for his presence in Russia.

 The credibility problem with Snowden assumed a more sinister dimension once Snowden put himself and his fate in the hands of the Russian authorities in Moscow.  Even though the Obama Administration decided against revealing the extent of Russian intelligence service's participation in Snowden’s move from Hong Kong to Moscow, or what intelligence services call an “exfiltration,” I was told by a Presidential National Security staff adviser that the government acted to protect the intelligence sources used by the CIA, NSA and FBI to track Snowden’s movements in the latter part of June in Hong Kong.  CIA Deputy Director Morell would go no further than to state that during that period he had no doubt the intelligence services of Russia and China “had an enormous interest in him and the information he [Snowden] had stolen.”  Presumably, the last thing these adversary services would want would be to make this “interest” transparent to the United States.  
The role of concealment must be taken into account when assessing information bearing on the work of espionage services.  I learned when I was interviewing James Jesus Angleton, the CIA’s legendary ex-counterintelligence chief of the CIA in the 1970s for my book on deception that intelligence services play by a different set of rules than historians when it comes to their espionage successes.  Angleton, a famously baroque thinker himself, impressed on me the complexity of espionage. He said “It’s not enough just to steal a secret. It must be done in a way that the theft remains undetected.”  From his perspective, there were two requisites that had to be fulfilled to assure the success of any intelligence theft. The first task is the obvious one: acquiring by espionage an adversary’s state secrets. The second task is concealment of that success.  Deception is employed to obscure the nature and the extent of the espionage theft. This deception is necessary to extend the usefulness of theft.   One of the most famous examples of this principle was the deceptions used by British intelligence in the Second World War to conceal its success in breaking the German ciphers generated by the Enigma machines. If German naval intelligence discovered Britain was able to read the ciphers it used to communicate with its U-boats, it would have stopped using them.  So British intelligence hid its coup by supplying false information to known German spies to account for the sinking of U-boats, including the canard that British aerial cameras could detect one ingredient in the paint used to camouflage the U-boats.  That same hoary principle of deception applies to modern-day communications intelligence. If the Russian, Chinese or any other adversary intelligence service got its hands on the documents stolen by Snowden from the NSA’s repositories in Hawaii in 2013, it would likely employ deception, including well-crafted lies, to create as much ambiguity as possible as to the ultimate disposition of the missing documents.   From this counterintelligence perspective, the intelligence issue that spawned the great divide cannot be resolved by accepting the uncorroborated statements made by a source, such as Snowden, who may be in the hands of the Russian security services in Moscow. 

   By the same token, the calculations made by NSA officials about the extent of the theft are also suspect.  After all, the NSA is an intelligence service that often engages in secret machinations.  We know that its top officials reported to the House and Senate Intelligence Committees, as well as the President’s National Security Adviser, that over one million documents were compromised by Snowden.  But if this was disinformation, it is difficult to see its purpose.  Inflating the extent of the damage of the Snowden breach to the President, Congress and the Secretary of Defense obviously reflected poorly on their own management of the NSA, and their own careers.   Yet such a possibility cannot be precluded in the arcane world of intelligence.

     As in any case involving the loss of state secrets, uncontested facts remain in extremely short-supply.  The opinion-laden appellatives such as “patriot” and “traitor” that have tended to fill the gap in the great divide do little to address the important mystery of how many thousands of state secrets were taken from the United States.  How did Snowden breach the supposedly formidable defenses of the NSA?  Did he have any assistance?  How did he escape to Moscow?  And what was the final destination of the stolen documents?   The purpose is to find answers to these questions.  For this endeavor, it is necessary to return to the crime scene: the NSA’s base in Hawaii.      






CHAPTER TWO
The Crime Scene Investigation

“Any private contractor, not even an employee of the government, could walk into the NSA building, take whatever they wanted, and walk out with it and they would never know.”

                   Edward Snowden, Moscow 2014

   About 15 miles northwest of Honolulu on the island of Oahu in Hawaii, adjacent to the sprawling Wheeler Air Force Base, is a 250,000 square foot man-made mound of earth and reinforced concrete surrounded by an electrified fence.  Inside the mound is a three story structure originally built by the Air Force in the Second World War as a bomb-proof aircraft repair facility.  In the Cold War, it was modernized to withstand an enemy chemical, biological, radiological or Electrical Magnetic Pulse attacks, and used by the Navy’s operation center for its Pacific fleet.  After the Cold War ended, the huge edifice was turned over to the NSA, which had been created as an intelligence service to intercept the communications and signals of foreign countries after World War II, a mission which included vacuuming into its giant computer arrays telephone messages, missile telemetry, submarine signals and virtually everything on the electro-magnetic spectrum of interest to the US defense department and US intelligence agencies.   Because it provided a valuable window on the activities of adversary nations in the Pacific region, it was able to monitor the ballistic missile tests and submarine activities of China, North Korea and Russia.  As the NSA developed it, this Hawaiian base became one of its primary regional bases for gathering Asian communications intelligence.  By 2013, the Kunia base, also called “the tunnel” by its NSA workers, had a vast array of state-of-the-art technology, including 90 Cray supercomputers 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 contract to the NSA’s leading civilian contractor, Booz Allen Hamilton.  

Keith Alexander, the four-star general who headed the NSA from 2005 to 2014, first learned about the impending story in the Guardian on June 4, 2013 while he was in Germany meeting with its top intelligence officials.  Janine Gibson, the Guardian’s American website editor had notified the NSA it intended to break a story based on NSA the next day.  It took NSA counterintelligence less than 48 hours  to determine that a civilian employee at the base from which documents were stolen had not reported back to work on June 3rd, 2013.  It also determined he had lied on his application of a two-week medical leave and had flown to Hong Kong.  The missing man was Edward Joseph Snowden, a 29-year civilian employee of Booz Allen Hamilton.  At the time of the theft in May 2013, he was still being trained as an analyst at the Threat Operations Center.  Personnel records further showed that he had worked there for less than six weeks.  He had taken the medical leave on May 18, 2013 left the country by plane. By June 7th, he had become the NSA’s main suspect. Snowden had been hired to work there as an outside contractor by Booz Allen Hamilton, a private company owned by a hedge fund, which managed much of the information technology at the Center.



General Alexander, returning to Washington DC after assigning the sensitive job of investigating the breach to Richard “Rick” Ledgett, the Director of the NSA’s Threat Operations Center at NSA’s headquarters in Fort Meade, Maryland.  It was a key position since the top-secret unit was responsible for discovering and countering the threats posed by Chinese, Russian and other adversary nations.  Ledgett was also the logical choice to head the damage assessment investigation since the Center’s regional branch in Hawaii was from where highly-sensitive documents were stolen and where the main suspect, Snowden, last worked.    Ledgett immediately boarded a military jet bound for Hawaii.  His first task was to reconstruct the chronology all of Snowden’s moves at the Center, or, as the tactic is called in counterintelligence parlance, “walking the cat back.” 
   The NSA meanwhile notified the FBI of Snowden’s possible involvement in the theft of state secrets.  It is in charge of  criminal investigations of civilian US intelligence workers, even if they occur on a NSA base,  The FBI immediately dispatched a top task force of agents  to investigate a potential espionage case in Hawaii. When questioned, Lindsay Mills, who shared Snowden’s rental home with him and had been his girl friend for 8 years, said Snowden was away on a business trip.   After determining from airline and hotel data that he was in Hong Kong, the FBI realized Snowden was a possible intelligence defector. It froze his credit and bank cards.  It also notified the passport office in the State Department the legal attaches at the Hong Kong consulate.  The legal attaches, who were actually FBI field agents posted in Hong Kong, located Snowden at the Mira Hotel on June 8th. Such international detective work proved unnecessary since on the evening of June 10th, Snowden ended all doubts about the identity of the perpetrator by revealing in a 12-minute video posted on the Guardian website that he was the source of the stolen NSA documents for which the FBI was searching.  The problem was that since Hong Kong was in China, US law enforcement did not have the means to recover them. 

     At that point, determining the magnitude of the theft of documents became a critical concern of the investigation.  Aside from the few dozen documents published by the Guardian and Washington Post, what else had Snowden stolen?

Within the next few days, a small army of forensic investigators from the FBI, the Defense Department and the “Q” counterintelligence division of the NSA swarmed onto the NSA base in Hawaii. The proximate crime scene for their investigation was the National Threat Operations Center. They examined the cubicle where Snowden had last worked at NSA, and then began retracing all his activities at the NSA over the past four years.  To begin with, they needed to find out how many documents from the Center had been copied and taken by Snowden.

    The Defense Intelligence Agency (DIA), the Pentagon’s own intelligence service, meanwhile was kept partially in the dark.  It did not learn from the NSA that Snowden had stolen military documents, concerning the joint Cyber Command until July 10, 2013.  In terms of sheer quantity, the number of stolen military documents was staggering.  The DIA found that Snowden had copied “over 900,000” military files. Many of these files came from this joint command, which had been set up in 2011 by the NSA and Army, Navy, Marine and Air Force cryptological services to combat the threat of warfare in cyberspace. The loss was considered of such importance that between 200 and 2500 military intelligence officers worked day and night for the next four months, according to the DIA’s classified report, to ""triage, analyze, and assess Department of Defense impacts related to the Snowden compromise.""  The job of this unit, called the Joint Staff Mitigation Oversight Task Force, was to attempt to contain the damage caused by the Snowden breach.  In many cases, containment meant shutting down NSA operations in China, Russia, North Korea and Iran so they could not be used to confuse and distract the U.S. military.

The NSA and Defense Department were not the only government agencies concerned with determining the extent of the breach.  There was also the CIA. The NSA acted as a service organization for it, handling most, if not all, of its requests for communication intelligence to support its international espionage operations.  Although the CIA and NSA were both part of the so-called “Intelligence Community,” the NSA did not immediately share with the CIA details of the Snowden breach.  Despite the immense potential damage of the theft, it was not until a week later that CIA Director John Owen Brennan and Deputy Director Michael Morell were briefed by the NSA. When Morell realize how much data had been taken by Snowden, he was astounded “You might have thought of all the government entities on the planet, the one least vulnerable to such grand theft would have been the NSA,” he wrote “but it turned out that the NSA had left itself vulnerable.”  According to Morell, he bluntly told the NSA briefer that it was urgent for the CIA to be brought in on the case. After all, only four years earlier Snowden had been employed by the CIA.  Specifically, Morell said the CIA needed to find out three things. Has CIA documents had been part of Snowden’s haul?  How long had Snowden been stealing documents?  Had Snowden been working “with any foreign intelligence service, either wittingly or not?”  According to Morell, the effort to get a direct answer from NSA officials to these three key questions “proved maddeningly difficult.”  He found that in mid June NSA officials with whom he dealt were so “distraught at the massive security breach” that initially they even refused to allow CIA officers to participate in the on-going security review.  A former NSA executive told me there was “near panic” at the NSA. Finally, Morell called Chris Inglis, a former professor of computer science who had risen to be the NSA’s Deputy Director at the time of the breach. Inglis, who headed operations for the NSA, told him “the news was not good.”  Among the data copied by Snowden were a large number of CIA secrets.  By the time, the CIA learned that its secrets had been compromised, Snowden was headed to Russia.  

The investigation of a crime involving potential espionage is no easy task.  In this case, it required attempting to solve a jigsaw puzzle in which not only were key pieces missing but, since it involved adversary intelligence services, some of the found pieces might have been twisted to deliberately to mislead the US investigators.  
By late July, NSA investigators made their initial assessment. They determined that most of the material had been taken from sealed-off areas, known in intelligence-speak as “compartments,” which in this case were files stored on computers that were isolated from any network.   Each compartment electronically tracked all the activities that occur in them on their logs, including the password identity of any person who has gained entry to any compartment.  From a forensic examination of these logs, NSA investigators were quickly able to reconstruct the timeline of the theft. The logs showed that an unauthorized party had begun copying files in mid-April, which was just days after Snowden began his job at the Center. The breach illicit activity ended just before Snowden’s last day of work there. So this piece fit in with Snowden’s guilt. 

    The size of the theft was another matter. Ledgett was certainly in a position to know.  Not only had he been in charge of the National Threat Center at the time of the Snowden breach, but he personally supervised the NSA’s damage assessment team.  And, in the shake-up that followed that followed, he would replace Inglis as Deputy Director of the NSA.  According to Ledgett, the perpetrator, moving from compartment to compartment, had “touched” 1.7 million documents.  Of these “touched” documents, according to the analysis of the logs, more than one million of them were moved in mid-May by the unauthorized party to an auxiliary computer intended to be used for temporary storage by authorized service personnel.    Finally, the data was transferred from this auxiliary computer to thumb drives.  This download occurred just days before Snowden’ left the NSA on May 17, 2013, having told the agency that he needed a leave of absence to undergo medical treatment in Japan.  The FBI further established from airport records that Snowden flew to Hong Kong the next day presumably with thumb drives containing, by the government’s calculation, over one million documents.    

   To be sure, the quantity of stolen documents does not necessarily reveal the damage, and can itself be misleading.  Many documents that do not reveal current or known sources or methods and others may have little value to an enemy. And a large portion of the 1.7 million documents may have been duplications.  But the quality of some of these documents is another matter.  Just one document that exposed a source or method of which enemies are unaware can be of immense value. For example, one of the missing documents taken by Snowden provided what Ledgett called “a roadmap” to the NSA’s current secret operations. That single document would reveal to an adversary such as Russia, China or Iran, according to Ledgett, “what we know, what we don’t know, and, implicitly, a way to protect themselves.”  And there were many documents in the Snowden breach that met these criteria, according to a National Security official at the Obama White House.    

    The breach had happened on the watch of General Alexander, who headed both the NSA and the US Cyber Command, in 2013. A short, compact man with military bearing, Alexander closely followed the investigation as it developed over the summer of 2013. By then, of course, the whole world knew that Snowden had stolen a vast trove of NSA documents.  But General Alexander saw major inconsistencies developing between Snowden own account of the theft and what had actually happened.   To him, Snowden’s timeline, as established by the government’s investigators, did not match up to Snowden’s story line.  “Something is not right,” Alexander said in an interview.

   What was wrong with Snowden's account proceeded from unresolved inconsistencies in both the timing and nature of the theft.    For one thing, Snowden had made the claim to journalists, four months after he was in Russia, that he had turned over all the documents he took from the NSA’s compartments to journalists Laura Poitras and Glenn Greenwald in Hong Kong.  However, on August 18, 2013, the investigators had the opportunity to examine the files that Snowden had actually given Poitras and Greenwald in Hong Kong.  This discovery came when David Miranda, Greenwald’s romantic partner, was detained at Heathrow Airport by British Authorities under Schedule Seven of Britain’s Terrorism Act.  At the time, as British intelligence presumably knew, Miranda was acting as a courier for Greenwald and Poitras.  According to Greenwald’s account, Snowden had given both him and Poitras identical copies of the NSA documents in Hong Kong.  When Greenwald returned home to Rio de Janeiro, he found his copy was corrupted.  But Poitras still had her digital copy of whatever stolen documents that Snowden had distributed to them. So Greenwald dispatched Miranda from Rio to Berlin to get a copy of Poitras’ thumb dive.  On the return trip, Miranda’s plane stopped at Heathrow and British authorities temporarily detained him and temporarily took the thumb drive from him.  Poitras had written out the password for Greenwald, and Miranda kept it with the thumb drive.   The British quietly copied the contents and shared them with the NSA.  As a result, the NSA discovered that Snowden had only given Poitras and Snowden some 58,000 documents.  By any measure, it was only a tiny fraction of Snowden’s total haul. The damage assessment team under Ledgett determined that some of these documents had been edited out of much larger documents that the NSA logs showed that he had copied.  Snowden had evidently selected for the journalist’s only parts of the lengthy documents.  For example, only scattered fragments of the 36,000 page “road map” file were among the material on the thumb drive.  By the count of both the NSA team and the Defense Department team almost one million documents were unaccounted for. If Snowden had not given these missing files to Poitras and Greenwald, the issue of what had happened to them became a critical missing piece in the puzzle. 



     Adding another layer to the mystery of the missing documents, the NSA investigation found that the chronology of the theft of documents did not support Snowden’s claim to journalists that he had only been seeking whistle-blowing documents.   Most of the documents he first took did not concern the domestic activities of the NSA.  It was only towards the end of the theft that he copied documents that would qualify as whistle-blowing.  In fact, the now-famous FISA court order to Verizon that was the basis of the initial Guardian expose was only issued by the FISA court on April 27, 2013.  The other main whistle-blowing document he revealed, the PowerPoint presentation about PRISM, a joint NSA-FBI-CIA Internet surveillance program, that was the basis of the Washington Post expose, was also only issued in April 2013. Yet Snowden had been down-loading documents for some 10 months before he copied these documents.    When I discussed the chronology of the copied documents with a former government official briefed on the investigation, he suggested that Snowden’s purpose may have changed between 2012 and 2013.  When I asked him what might have induced the change, he replied “That is one of the unanswered questions.”  That Snowden only took these two whistle-blowing documents at the tail-end of his 9-month operation, and after he had contacted Poitras and Greenwald, suggests he may have had another motive prior to contacting journalists.  In light of this chronology, the investigation had to consider the possibility that his whistle-blowing was, partly if not wholly, a cover for another enterprise.


    The investigation soon ran into another serious issue: his access.  Snowden had described to  journalists a situation in which he had  access to“ millions of records that [he] could walk out the door with at any time with no accountability, no oversight, no auditing, the government didn’t even know they were gone,” but, as it turned out,  he was not among the limited number of individuals at the Center who had access to these documents,    The NSA’s and Booz Allen’s employment records showed that Snowden had not yet completed his requisite on-the- job training at the National Threat Operations Center in Hawaii when he carried out the theft.  Consequently, he had not yet been provided with the passwords he needed to get the documents.  A former NSA official bluntly told me that Snowden, at least during the period of the thefts in April and May 2013, had no more legitimate access to the compartments than the cleaning personnel at the Center.  Somehow he converted his proximity to access.
   This lack of access could not be ignored in any law-enforcement investigation.  Consider if a hundred top-quality D-flawless diamonds were stolen from locked vaults at Tiffany’s by a recently-hired trainee who, it turned out, did not have either the combination to open these vaults.  One possibility that the police would be expected to consider was that the trainee might have had help from a current or former insider at the company who knew the combinations.  Snowden had accomplished a similar inexplicable feat as the hypothetical jewel thief. 
In Snowden’s case, the FBI had to consider two very different possibilities that could explain how he could have acquired the password.  He said in his video confession that he was solely responsible but there was another possibility.  He had help, unwitting or witting, from others and he was trying to protect away from them.  

The FBI faced a dilemma. It could either assume that the NSA’s security regime was so badly flawed that Snowden could trick his fellow workers into providing him with access or that there was another individual at the Center who might have assisted or directed Snowden.  If it pursued the former hypothesis, it could close the case as far as the sitting Grand Jury was concerned.  After all, Snowden had admitted he was the perpetrator and, if further evidence was needed, he could be seen showing stolen documents to Greenwald on the video. And Greenwald later used these documents.  For the Grand Jury, it was, as one former federal prosecutor put it, “a slam dunk.” Not even Snowden denied the charge that he gave secret documents to individuals that were not authorized to receive them, the same charge for which Manning was convicted.  Even if it went no further, the FBI would satisfy its superiors in the Department of Justice that it had done its law-enforcement job. But if it pursued the latter hypothesis, it would need to engage in a mole hunt for a quarry that might not exist.  By doing so, it could open a Pandora’s Box of suspicions that it, or the NSA, might not ever be able to close.  When the investigation came to this fork in the road in the summer of 2013, according to a source on the House Intelligence Committee, it chose the former route.

     Finally, there was the question of whether Snowden had gone to Russia by design or accident.  Whenever an intelligence worker steals sensitive compartmentalized information of interest to a foreign adversary and then defect to it, it raises at least the specter of state-sponsored espionage.  It is a commonly accepted presumption in counterintelligence that a spy, fearing arrest, flees to a country that has some reason to offer him protection.  When the British spies Guy Burgess, Donald Maclean and Kim Philby, for example, fled to Moscow in the Cold War the presumption was that they had a prior intelligence connection with Russia.  And Philby confirmed it in his 1968 memoir “My Silent War.”  So in the case of Snowden, counterintelligence had to consider the possibility that his theft of state secrets and his arrival in Moscow might not be totally coincidental.  

 For his part, Snowden said that he did not leave Hong Kong with the intention of staying in Russia, but that the U.S. government “trapped him” at Moscow’s Airport by revoking his passport.  He told editor of The Nation magazine:  “I’m in exile. My government revoked my passport intentionally to leave me exiled.” He added that the U.S. government “chose to keep me in Russia.”  Although he repeated that assertion over a dozen times, it was untrue.   The US government had not invalidated his passport for travel back to the United States.  When criminal charges are lodged against a U.S, citizen by the Department of Justice, the State Department, in accordance with the U.S. code of justice, marks in the electronic passport validation advisory system that that person’s passport is electronically marked valid only for return to the U.S. After criminal charges were filed against Snowden, including the theft of classified government documents, it advised foreign governments that Snowden was wanted on felony charges, and “should not be allowed to proceed in any further international travel, other than is necessary to return him to the United States.""  It was simply requiring that his passport, which is a State Department document, be used for him to return to the United States.  Rather than preventing Snowden from returning to the United States, or “exiling” him, the government facilitated his return home.  With his passport, he could have flown home from either Hong Kong or Moscow, where he, like any other person accused of a felony, would face the charges against him. Nor was it plausible that President Obama and Secretary Of State Clinton would conspire to trap a perpetrator carrying incredibly valuable national security secrets in Russia. 

    The counterintelligence investigation had little difficulty establishing that Snowden’s trapped” version in the media was not consistent with the actual chronology of the events. Snowden claimed that the U.S. State Department had acted while the plane was flying to Moscow on June 23rd but in actuality it had acted on June 22, 2013, which was the day before the plane (or Snowden) departed from Hong Kong.  The Hong Kong authorities had been advised as early as June 19, 2013 that there were criminal charges against Snowden and only a typographical error in spelling out Snowden’s middle name—James instead of John-- in the criminal charges prevented the Hong Kong police from immediately ordering his detention.  His Hong Kong lawyers were advised of the pending charges, which were unsealed on June 21, 2013 and published on front page of the South China Morning Post in Hong Kong. So presumably Snowden knew that action by the U.S. government was imminent. One of his lawyers, Jonathan Mann, even accompanied Snowden to the airport out of his concern that he would not even be allowed by Hong Kong authorities to go through passport control.  Although Snowden still had a US passport in his possession, the computerized database would show on June 23rd, it was no longer valid for travel to anywhere but the U.S.

This electronic notification advised foreign government that his passport was only approved for his return to the U.S.  Even so, when he arrived in Russia any future international travel decisions for him would be up to Russia, not the U.S.  So the only government with the means to “trap” him in Russia was the Russian government. 

The U.S. government also knew that his it was no accident that Snowden wound up in the hands of Russia. He had been in contact with Russian officials in Hong Kong.   Even before Putin admitted this liaison on September 3, 2013, the CIA knew about it. In fact, on June 23rd, t, Senator Charles Schumer (D-N.Y.),  correctly said based on a White House briefing that “Vladimir Putin had personally approved Snowden’s flight” to Moscow.     As mentioned earlier, the NSA still had the capability to monitor Russian communication in June 2013.  The messages, as well as the traffic, it intercepted from its sources reportedly revealed the Russian intelligence activity in Hong Kong.    The NSA also reportedly intercepted contacts between these Russian officials and Russian representatives of Aeroflot, the Russian state-owned airline flying between Hong Kong and Moscow.    Aeroflot, like most other international carriers, ordinarily requires international passengers to have both a valid passport and visa to the country of his destination. That those rules were waived for Snowden implicated Aeroflot in Snowden’s exfiltration from Hong Kong.   All of which meant to investigators that Snowden’s defection to Moscow was not a haphazard result of unexpected circumstances. This raised new questions for the investigation. What led Snowden to defect to Russia?  Was his arrival in Moscow planned by Russia intelligence in advance?  Was any other party, such as China, privy to the plan?   Was there a quid pro quo?


    US intelligence had some clues suggesting that Snowden’s path to Russia had been prepared for him in advance.  On September 3, 2013, Russia’s President Putin gave a lengthy interview on state-owned Channel 1 television in which he divulged that he personally had had advance knowledge of Snowden’s plan. “I will tell you something I have never said before,” Putin said. Snowden ""first went to Hong Kong and got in touch with our diplomatic representatives” and that he was told then that an American ""agent of special services"" was seeking to come to Russia. Putin then decided that this agent would be “welcome, provided, however, that he stops any kind of activity that could damage Russian-US relations.”  Putin’s disclosure came as no surprise to the NSA investigation since the Russian pro-government newspaper Kommersant had reported that Snowden visited the Russian consulate in Hong Kong. 


      Putin’s authorization could certainly account for Aeroflot waiving its usual passport and visa check to allow Snowden to board its plane.   It also might explain the dispatch with which Russian officials whisked Snowden off the plane after it landed and into a waiting car at the Moscow airport.  It could even account for Snowden’s vanishing from public view for the next three weeks and the promulgation of the cover story that Snowden was unwillingly trapped at the airport by the U.S. government.  The reasons behind Putin’s move were less clear.


    By September 2013, the investigation was looking into a veritable abyss. Snowden’s culpability was no longer an issue. What was lacking from the video, or the 2-hour film made from it by Laura Poitras, was any specific information on how many documents he had copied, how he had obtained the passwords to the computers on which they were stored, the period of time involved in the theft, or how he had breached all the security measures of the NSA in Hawaii.  Nor would that data be forthcoming from Snowden, who may be the only witness to the crime, By June 23, 2013, he was in a safe haven in Moscow.    Even though the Grand Jury case against Snowden was cut and dry, it was also irrelevant because the US does not have an extradition treaty with Russia. 


The purpose of the intelligence investigation went far beyond determining Snowden’s guilt or innocence, however.  Its job was to find out how such a massive theft of documents could occur, how the perpetrator escaped, and, perhaps most urgent, who had obtained the stolen documents from Snowden.


    When Snowden first met Greenwald and Poitras in Hong Kong on June 3rd 2013, he displayed in his hand, as a recognition signal.  It was an unsolved Rubik’s Cube.  It may also be an appropriate metaphor for the unsolved elements in the Snowden enigma.   Even in his later interviews with journalists in Moscow, Snowden studiously avoided describing the means by which he breached the entire security regime of America’s most secret intelligence service.  He only told the journalists who came to Moscow to interview him, with a bit of pseudo-modesty, that he was not “an angel” who descended from heaven to carry out the theft.


    But the question of how Snowden stole these documents may be the most important part of the story.  The NSA, after all, furnishes communications intelligence to the President, his National Security advisers, and the Department of Defense that is supposedly derived from secret sources in adversary nations. If these adversary nations learn about the NSA’s sources, the information, if not worthless, cannot be fully trusted. The most basic mission of the NSA is to protect its sources. Yet, despite all its efforts, Snowden walked away with long lists of its sources.  In doing so, he amply demonstrated that a single civilian employee working for an outside contractor, even one not having the necessary passwords and other access privileges, could steal documents that betrayed these vital sources.  He also demonstrated that such a theft, which the NSA calculates exceeded one million documents, can go undetected for at least two weeks. If Snowden managed this feat on his own, as he claims in his Hong Kong video, it suggests that any other civilian employee with a perceived grievance against NSA practices or American foreign policy could also walk away with some of the most precious secrets held by US intelligence.  Such vulnerability extends to tens of thousands of civilian contract employees in positions similar to the one held by Snowden.  The lone disgruntled employee explanation is therefore hardly reassuring. If true, calls into question the entire multi-billion dollar enterprise of outsourcing the management of the NSA’s computer networks and other technical work to outside contractors. It also casts doubts on the post-9/11 decision by the intelligence community to strip away much of the NSA’s “stove-piping” that previously insulated the NSA’s most sensitive computers.  Without such “stove-piping,” any rogue civilian employee could bring down entire edifice of shared intelligence.


    Nor would a finding by the investigation that Snowden had acted in concert with others in breaching compartments at the NSA be any more reassuring.  Such collaboration among intelligence workers would reflect gravely on the mindset of the NSA.  Snowden described an atmosphere in which intelligence workers exchanged lewd photographs of foreign suspects. Did this violation of the NSA’s rules also involve abetting the theft of documents?  If so, the NSA would have to evaluate further vulnerabilities that might arise when it entrusts its secrets to technicians who do not share is values. A collaborative breach would signal an immense failure of the present concept of the counterintelligence regime in the NSA.


  From what I gathered from government officials who were familiar with the investigation, there was a concern that answering the “how” question could open up a Pandora Box of other issues concerning the very ability of the NSA to carry out its core mission of protecting the government’s intelligence secrets.  However it was organized, it was that clear that Snowden had played a major role in what amounted to a brilliant intelligence coup. 










    



PART TWO  
SNOWDEN’S ARC




“I woke this morning with a new name. I had had a vision. A dream vision.  A vision righteous and true.  Before me I saw Gamers shrouded in the glory of their true names...Step forth, and assume your name in the pantheon. It's always been there, your avatar's true name. It slips through your subconscious, reveals itself under your posts, and flashed visibly in that moment of unrestrained spite; in the indulgent teabag. You've felt it, known it, and recognized it. Now realize it.
I woke this morning with a new name. That name is … Wolfking Awesomefox”
      --Edward Snowden in Geneva, June 12, 2008.




CHAPTER THREE
Tinker



“It’s like the boiling frog. You get exposed to a little bit of evil, a little bit of rule-breaking, a little bit of dishonesty… you can come to justify it.”
                                     —Snowden in Moscow, 2014



      Edward John Snowden was born on June 21, 1983 in Elizabeth City, North Carolina.  His parents, Lon Snowden and Elizabeth “Wendy” Barrett, according to their marriage records, wed when they were both 18 in 1979.  The following year they had a daughter, Jessica.
Lon Snowden, like his father before him, served in the U.S. Coast Guard. He was stationed at its main aviation base, where his father-in-law Edward John Barrett, was an officer and rising star of the Coast Guard. While Edward Snowden was still a child, his grandfather would become not only an admiral but the head of the Coast Guard’s entire aviation service.  Admiral Barrett would be the only grandfather, Edward Snowden would ever know.    His paternal grandfather died before he was born in a fatal car crash.  He had had a drinking problem and killed a woman in a prior car crash.) 

  When Lon was transferred to a Coast Guard base near Baltimore in 1992, the family moved to Maryland.  Lon bought a two-story house in Croften, Maryland, a residential community very close to the NSA’s headquarters building at Fort Meade. The two children, Edward, who was nine, and Jessica, who was 12, were enrolled in local public schools in Croften.

    Jessica was a top student. She graduated high school, completed both her courses at University of Maryland and went on to law school, where she graduated with honors.  Unlike his sister, Snowden experienced a string of failures in his education.  In 1998, after only one year of classes, he dropped out of Arundel High School.  According to school records, he stopped attending classes at the age of fifteen.  He later attributed his absence from school to a medical problem, mononucleosis, but according to Robert Mosier, a spokesman for Anne Arundel County public schools, there is no record of any medical illness. Brad Gunson, who knew him before he dropped out of high school, recalled in an interview with the Washington Post only that he had a high-pitched voice, liked magic cards, and played fantasy video games.  Nor did Snowden receive home schooling or ever get a high school diploma. 

Instead, Snowden became the product of a broken home. His parents were entangled in a messy divorce fight until he was seventeen. By this time Jessica had her own apartment.  When his parents separated, Snowden’s mother, Wendy, bought a two-bedroom condominium in Elliott City, Maryland.  She moved Snowden, along with his two cats, into the condominium.  She remained in the family house while awaiting its sale.  According to his neighbor Joyce Kinsey, Snowden, alone, stayed home almost all the time.  From what she could observe, he spent long hours in front of a computer screen.

     At the age of 18, Snowden was still living by himself, while other teens his age went to college, Snowden now devoted a large part of his time playing fantasy games on the Internet. Posting under the alias “The TrueHooHa” on a web site called Ars Technica, he showed himself to be a passionate gamer.  He was especially drawn to Anime, a graphically violent style of Japanese animation. These Anime games had by 2002 achieved a fanatic following in both Japan and the United States.  He claimed special skills at Takken, a martial arts fighting game.  He even went to Anime conventions in the Washington DC area.  When he became a webmaster for Ryuhana Press, a website running these anime-based games, he described himself somewhat fancifully as a 37-year old father of two children,  The only clearly true part of his description was that he was born on  “the longest day of the year” (June 21). 

  He also apparently valued changing his body. He wrote Internet posts under his TrueHooHa alias about how he used weightlifting and intensive training to precision-shape his body.  He bragged to his online followers that he had reduced his “body fat percentage to between 9.5% and 10.5%” (which was less than half of the average for his age.)       

    He appeared somewhat restless with his solitary life in a Maryland suburb in his almost daily postings. He expressed a longing to go to Japan.  “I’ve always dreamed of being able to ""make it"" in Japan. I've taken Japanese for a year and a half,” he posted in 2002.  Despite his claim of learning Japanese, there is no record of him taking any courses in Japanese.  But it perhaps part of his yearning.  He also wrote that he wore “cool” purple sunglasses, practiced martial arts and was a fan of Japanese cuisine.  He described himself at one point, as if advertising his virtues, as having a “head of vibrant, shimmering blond hair (with volume).”   In pursuit of an employment opportunity in Japan, he posted “I’d love a cushy gov job over there.”  Eventually, he gave up on the idea of relocating himself to Japan because, as he explained in a post, he would have to put his cats in quarantine for six months.

    Snowden’s father meanwhile moved to Pennsylvania with his new wife-to-be.  This left Snowden with only one male family member in the area, his maternal grandfather, Admiral Edward J. Barrett.  Unlike Snowden’s virtual career on the Internet, where at one point Snowden invented for himself two fantasy children, Admiral Barrett became a real actor in the top echelon of US intelligence.  After the Coast Guard, he moved to the Pentagon. He was actually in the Pentagon when a plane piloted by terrorists crashed into it on 9-11.  He emerged unscathed and, by 2004, was a top official in the intelligence regime that operated the interrogation center at Guantanamo.  

Instead of seeking a job in Japan, Snowden sought to join the Special Forces through the 18X program.  It was an Army Reserve program created in 2003 that allowed individuals who had not served in the military or completed their education, to train to be a Special Forces recruit. He listed his religion on the application as “Buddhist” because, as he explained in a sardonic post on Ars Technica, “Agnostic is strangely absent” from the form.” 

  He enlisted in the army reserves on May 7, 2004, according to U.S. Army records. He reported for a 10 week basic training at Fort Benning, Georgia.  That was standard course for all enlistees in the infantry.  In August, he began a three-week course in of parachute jumping but did not complete that training. US Army records show he did not complete the training requirements and received no commendations.     As Snowden put it in his Internet postings, he “washed out.”  He was discharged on September 29, 2004, ending his 19 week military career.  Snowden would later claim on the Internet that he returned to civilian life because he had injured himself by breaking both legs. An Army spokesman said, however, that he could not confirm that Snowden injured his legs or that he was in fact dropped from the program for medical reasons.   Under his alias TheTrueHooHa he wrote that “they [the Army] held on to me until the doctors cleared me to be discharged, and then after being cleared they held onto me for another month just for shits and giggles.”  He attributed this treatment in the Army, as he would later attribute his problems in the CIA and NSA, to the inferior intelligence of his superiors, He wrote in his post “Psych problems = dishonorable discharge depending on how much they hate you. Lots of alleged homos were in the hold unit, too, but they only got a general discharge at best.”  It is not entirely clear whether or not Snowden actually injured himself.  If he had broken his legs, it was not evident to Joyce Kinsey, his next door neighbor, who told me that she never saw Snowden on crutches when he returned to his mother’s condominium in September 2004. Whether or not he broke his legs, Army records show that he did not receive a medical discharge.  He received an “administrative discharge.”   Unlike a medical discharge which is given because a soldier has sustained injuries that prevent him from performing his duties, an administrative discharge  is a “morally-neutral” form of separation given to a soldier when her or she is deemed for non-medical reasons inappropriate for military service.  Snowden himself preferred to voice a medical explanation for his severance, just as he had claimed a medical reason for dropping out of high school (and would later claim he needed medical treatment for epilepsy at the NSA.)

     When he returned home from Fort Benning, Georgia on September 28, 2004, he was 21. Having failed in his attempt to join the Special Forces, he returned to his mother’s condominium in Elliott City, where he remained unemployed for several months.  He took a job as a security guard at the University of Maryland’s Center for Advanced Study of Language. According to his Ars Technica postings, he worked the night shift from six in the evening to six in the morning.   Because intelligence officers took its language courses, Snowden had to take a polygraph exam to get the job. After he passed it, he was hired and given his first security clearance   But he had higher ambitions than being a campus security guard, It was only a temporary stop gap for him.

         He had ambitions of becoming a male model.  He did not seem overly concerned about his privacy, posting pictures of himself “mooning” for the camera.  He also posted provocative modeling pictures of himself on the Ars Technica website.  He commented on his own beefcake-style pictures “So sexxxy it hurts” and “I like my girlish figure that attracts girls.”  He approached a model agency called Model Mania.  He had some concern about the photographer who “shoots mostly guys.” Snowden said in a post he was “a little worried he might, you know, try to pull my pants off and choke me to death with them, but he turned out to be legit and is a pretty damn good model photographer.” He posted the photographs on the Internet, commenting: “ I think I look pretty good in the shots, so it's kind of hard to get used to thinking of yourself in terms of being an element in a picture as opposed to just a picture of X."" Despite his enthusiasm, the lack of any paid job offers dashed any hopes he had of a modeling career.

He also began dating Lindsay Mills around this time.  She was an extremely attractive 19-year old art student at the Maryland Institute College of Art.   Jonathan Mills, Lindsay’s father, was an applications developer at the Oracle Corporation.  According to him, she met Snowden on an Internet dating site.  However they met, Snowden and Mills had much in common.  They both had divorced parents who gave them a great deal of latitude in conducting their personal lives. Both of them were keenly interested in perfecting their bodies through exercise and diet regimes, Mills’ only paid employment over the next 8 years would be as a fitness and Yoga instructor in Maryland.  They both also had ambitions to be models and neither of them had inhibitions about posing provocatively for photographers.  They both also had a desire to travel to exotic places, including cities in Asia.  Mills had spent four month in Guilin, China before meeting Snowden. 

    As bleak as his prospects as a high school dropout may have seemed, he had an unexpected stroke of good fortune in the spring of 2006.   The CIA, out-of-the-blue, offered Snowden a $66,000 a year job as a CIA communications officer. “I don’t have a degree of ANY type. In fact, I don’t even have a high school diploma,” Snowden boasted in May 2006 on the website Ars Technica under his alias The TrueHooHa.  He added, with only a slight exaggeration, “I make 70K.”

   But how did Snowden get the job? The CIA’s minimum requirements in 2006 for a job in its clandestine division included a bachelor's or master's degree and a strong academic record, with a preferred GPA of 3.0 or better.  Snowden had only completed one year of high school.  He had never attended college. He said himself that he had “no degree.”  So he had none of the requisite degrees for the job he got.

CIA deputy director Ledgett said the CIA needed technical workers in 2006.  But even if Snowden only applied in this capacity, which entailed a 5-year contract-term employment agreement, the minimum requirements for an intelligence technology job were a minimum of an Associates’ Degree awarded by a two-year Community college in Electronics and Communications Engineering Technology   Computer Network Systems, or Electronics Engineering Technology.  Candidates further must have a final GPA of at least 3.0 on a 4.0 scale from a fully accredited technical school or university.  Snowden did not meet these standards.  Lacking these qualifications, the CIA can make an exception only if a candidate had at least two years civilian or military work experience in the telecommunications and/or automated information systems field that are comparable to one of the requisite degree fields.  , Even here, Snowden in no way qualified. He did not have the education qualifications or two-year work experience anywhere.  In fact, his only paid work was as a security guard at a language school at the University of Maryland, and that job lasted less than one year.

    Under extraordinary circumstances, even the minimum requirements might be waived if the applicant had a distinguished military career and an honorable discharge.  Snowden, however, did not complete his military training at Fort Benning, Georgia and received only an administrative discharge.   

    The CIA, to be sure, had needed computer savvy recruits to service its expanding array of computer systems since 1990. By 2006, however, there was no shortage of fully-qualified applicants for IT jobs who met the CIA’s minimum standards.  Most of them had university course records, work experience at IT companies, computer science training certificates from technical schools, and other such credentials they could provide the personnel office.  The CIA, like the NSA, also obtained technicians with special skills for IT jobs from outside contractors. So it had no need for employing a 22-year old drop-out who did not meet its requisites.     According to the former CIA station chief, the only plausible way that Snowden, with no qualifications, was allowed to jump the queue was that “he had some pull.”

    In 2006, Snowden was not without family connections.  His grandfather, it will be recalled was Rear Admiral Barrett, who certainly was well-connected in the intelligence world. After 20 years service in the Coast Guard, Admiral Barrett joined an interagency task force in 1998, which included top executives from the CIA, FBI, and DEA.  It had been set up to monitor any gaps in the US embargo on Cuba and, as one of its leaders, Barrett was in constant liaison with the CIA.  Following the attack on the World Trade Center in NY in 2001, he joined the FBI as the section head of its aviation and special operations.  In this capacity, he supervised the joint CIA/FBI interrogation of the prisoners in the Guantanamo base in Cuba which involved him in the rendition program for terrorist.    As a top FBI executive in a liaison role with the CIA, he certainly had could have played a role in furthering his only grandson’s employment. The CIA, however, has not disclosed any information about whom, if anyone, recommended Snowden.  All that is known is that in 2006 the CIA waived its minimum requirements for Snowden.

However Snowden got his job at the CIA, it meant, as he pointed out from Moscow, that in 2006 his entire family was employed by the Federal government.  His father Lon in 2006 was serving in the Coastguard; his mother Wendy was the administrative clerk for the Federal Court in Maryland; his sister Jessica was a research director at the Federal Judicial Center; and his namesake grandfather, Admiral Barrett, was still a top executive at the FBI. In a sense, Snowden had now entered the family business.



Chronology2: The Snowden Thriller
                                 The Intelligence World, 2006-2014




June2006-Feb 2007            CIA
                                            Trainee, Langley, Virginia



March 2007- Feb 2009        CIA
                                             Communications officer. Geneva, Switzerland




 June 2009-Sept 2010            DELL/ NSA
                                               Security instructor, Yokoda. Japan



October 2010- March-2012     DELL/ NSA 
                                                 Computer platforms, Maryland–designing computer platforms



April 2012- March 2012           DELL/ NSA
                                                  System administrator, Oahu, Hawaii



M arch 2012– May 2013              BOOZ ALLEN HAMILTON/ NSA
                                                      Infrastructure analyst, Oahu, Hawaii

October 2013– Present                   Unidentified Cyber Security Firm

                                                        Unknown position, Moscow, Russia




CHAPTER FOUR
Secret Agent

 “Sure, a whistleblower could use these [computer vulnerabilities], but so could a spy.”

       --Edward Snowden in Moscow



The sudden transformation of Snowden in 2006 from a night watchman on a university campus to secret agent for the CIA provided him with a powerful new identity and one much closer to the avatars he adopted for his fantasy games.   It was burnished so deeply in his self-image that he cited it eight years in Moscow. When Brian Williams, then a NBC anchorman, began an hour-long NBC television interview with Snowden in 2014 by saying, “It seems to me spies probably look a lot more like Ed Snowden and a lot less like James Bond these days,"" Snowden approvingly smiled and told him, “I was trained as a spy in sort of the traditional sense of the word.”  Snowden further confirmed his interviewer’s point, sating “I lived and worked undercover overseas, pretending to work in a job that I'm not, and even being assigned a name that was not mine.""  
      In reality, Snowden’s employment at the CIA was more prosaic.  When he joined the CIA in 2006, he did not have the required experience in maintaining secret communication systems.  So the CIA sent him to its information technology school for six months to train as a communications officer, not a spy.   After completing his training, he was dispatched to the CIA station in Geneva, Switzerland. He worked there for the next two years as one of dozens of Information Technologists servicing the CIA’s communication channels in Switzerland. He was stationed there, according to Swiss registry records, under his own name from March 2007 to February 2009.  He was identified as a US State Department employee in Geneva because Switzerland does not allow any intelligence officers to operate in that country.  So officially he was attached to the permanent U.S. mission to the United Nations which employed hundreds of US government functionaries in Switzerland.  It was a thin cover, since the Swiss government was aware that the CIA maintained its base in Geneva and posted it employees at the US mission,  

      Although he would later claim in the video he made in Hong Kong that he had served as a “senior adviser for the Central Intelligence Agency,” he was merely a telecommunications support officer, or TSO in CIA parlance, which was a junior level job at the CIA.  He worked as part of a 12 man team of information technologists under the supervision of senior CIA officers, according to a former CIA officer in Geneva.  The job of these TSOs was to protect the security of the CIA’s computer systems through which the CIA station in Geneva sent and received its secret communications.    As far as is known, Snowden made very few friends at the 800-person mission.  The only person there to have publicly reported knowing him in Geneva during this period is Mavanee Anderson, a young and attractive summer intern at the US Mission from May to August 2007.  She described befriending Snowden, who, according to her, said that he was in the CIA and also demonstrated to her his martial arts skills.  She later recalled in interviews that he was “a bit” prone to brooding and voiced growing dissatisfaction with the CIA.   

   During his time in Geneva, he received no promotions or commendations for his work.  In December 2008, he received an unfavorable evaluation from his superior and a “derog,” the CIA’s shorthand for a derogatory comment. He was also threatened with a punitive investigation unless he agreed to quietly resign from the CIA. “It was not a stellar career,” Tyler Drumheller, former CIA station chief told me in 2014.

    The job in Geneva did have its benefits, however.  It provided him a generous housing and travel allowance.  In many ways, it was the “cushy government job” he had said he was seeking in his Internet posts.  He rented a four room apartment and had his girlfriend Lindsay Mills, now 21, join him there.  

    According to his posts on the Ars Technica web site, he took full advantage of his compensation to live the high life. He gambled on financial developments in the option markets, losing and making substantial sums of money. He also bought a BMW sports car.  While these BMW had a speed control to keep the car within the speed limit, he wrote that he illicitly disabled it so he could exceed this legal limit.  He described in his posts other pursuits, including racing motorcycles it Italy and traveling around Germany with an Estonian rock star (who he did not further identify.)   He also continued his fantasy life in Internet gaming.  The gaming alias he chose was “Wolfking Awesomefox.”  He even indulged in a fantasy gun sport called Airsoft, a variation of paint ball, in which participants used realistic looking pistols to splatter each other with paint.

        His good fortune came to an abrupt end in 2008.  He suffered a massive loss in his options speculations.  He wrote in a post that he had ""lost $20,000 in October [2008] alone;” a sum which represented a substantial part of the $66,000 a year CIA salary. He blamed the US financial system, posting on Ars Technica that Ben Bernanke, the Federal Reserve chairman, was a “cockbag.”  He also bet against any further rise in the stock market index, asking a user with whom he was chatting on the Ars Technica site in December 2008 to “pray” for a collapse of stock prices.  When his correspondent asked him why he wanted him to pray for a decline, Snowden responded “because then I’ll be filthy fucking rich.”  The stock market, however, continued to rise, and Snowden also lost this bet.

 Snowden lashed out at others on the Internet over these setbacks. He termed those who questioned his financial judgment as “fucking retards.”  As with other setbacks, he blamed them on government officials. He even advertised them in Ars Technica, a closely-watched Internet forum, while serving in the CIA.   Since the CIA was engaged in 2008 in highly sensitive operations to gather banking data in Switzerland-- one of which Snowden later disclosed to the Guardian—any Internet discussion by a CIA employee of financial losses could serve as a beacon to an adversary intelligence services on the prowl for a source.  If any party was looking for a disgruntled US employees, Snowden’s Internet chatter about bad choices in gambling could arouse its interest.  That Snowden used his TheTrueHooHa alias for these Internet posting would not prevent a sophisticated espionage organization, such as the Russian Intelligence service, from quickly uncovering that his true identity was Edward Snowden. Nor would it be difficult to place him at the CIA since, it will be recalled, he was listed by his true name on the roster of the US Mission to the UN.   By consulting personnel records it would further emerge that he did not actually work for the State Department.  Since it was no secret, at least to the Russian Intelligence services, that the US mission in Geneva housed the CIA station for all of Switzerland, it was probable that this brittle gambler who played the options market worked for the CIA.  Even though it cannot be precluded that Snowden was spotted in Geneva by another intelligence service, there is no evidence, at least that I know of, to suggest that he was approached by one.  Nor is there reason to believe that if he had been contacted by a foreign service in 2008, he would have responded positively.  Despite his indiscreet posting about his outside activities, he apparently still respected the boundaries of secrecy that had been clearly defined in the oath he had taken in the CIA.   For example, after the New York Times published an article revealing secret American intelligence activities in Iran on January 11, 2009, Snowden railed against the newspaper on the Internet under his True HOOHA alias, He wrote “This shit is classified for a reason… It’s because this shit won’t work if Iran knows what we are doing.” He clearly recognized that revealing intelligence sources was extremely damaging. As for the New York Times, he said “Hopefully they’ll finally go bankrupt this year.”  When another Internet user asked him if it was unethical to release national security secrets, he answered,”YEEEEEEEEEES.”

    Nevertheless, he had his career-ending problem at the CIA.  As with every CIA officer, he had to undergo a two year evaluation and take a routine polygraph test. It was then, in December 2008, that his superior at the CIA placed the “derog” in his file.  The reason remains somewhat murky.  According to a New York Times story by veteran intelligence reporter Eric Schmitt, Snowden’s superior had suspected that Snowden “was trying to break into classified computer files to which he was not authorized to have access.” Schmitt evidently had well-placed sources in the CIA.  He said that he interviewed two senior American officials who were familiar with the case.  According to what they told Schmitt, the CIA superior had decided to “send Snowden home.”    Officially, however, according to a CIA reply to the New York Times report, Snowden had not been fired or accused of attempting to “break into classified computer files to which he did not have authorized access.”  The discrepancy was explained to me by a former CIA officer who had also been at the US Mission in Geneva.  He said that the spin the CIA put on the story was “necessary containment.” After the Snowden breach occurred in June 2013, the CIA had a problem which could, as he put it, “blow up in its face.”  If Snowden had been fired but allowed to keep his secrecy clearance in 2009, the CIA’s incompetency could be partly blamed for the NSA’s subsequent employment of him. If he had broken into a computer he was not authorized, he should have been fired, if not arrested.  What this spin glossed over, according to this former CIA officer, is the part of Snowden’s behavior that concerned his superior.  Technically, Snowden, as a CIA communications officer, was authorized to use the computer system.   The problem was that Snowden had deliberately misused it by adding code to it.  This code could have compromised the security of the CIA’s “live system.”  So while what the CIA public affairs officer said was correct, it clouded the issue. 

     For his part, Snowden blamed his career-ending “derog” on an “e-mail spat” with a superior.  From Moscow, he wrote James Risen of the New York Times that his superior officer ordered him not “to rock the boat.” Further, he complained that the technical team at the CIA station in Geneva had “brushed him off” even though he had a legitimate complaint.  When he complained about a flaw in the computer system, he said that his superior took vengeance on him.  He said he added the code to the system prove he was right.  He attributed the “derog” in his file to the incompetence, blindness and errors of his superiors.  According to Snowden, he was a victim.  This would not be the last time he faulted superiors for their incompetency. He would later say that the NSA experts who examined the documents that he had stolen as “totally incapable.”    

In any case, in February 2009, Snowden not only had a career-damaging “derog” in his file but he faced an internal investigation of his suspicious computer activities.  According to Tyler Drumheller, the former CIA chief for Europe, such an internal investigation was not undertaken lightly or because of an “email spat.”  He said that such an investigation was “a big deal” involving the CIA Office of Security in Washington and possibly the FBI.  It would also result in the temporary suspension of his secrecy clearance. This left Snowden with little choice. If he wanted avoid the investigation, he had to resign from the CIA, which he did.  That was the end of the security investigation.  He was clearly bitter about the CIA, posting on Ars Technica on January 10, 2009, “Obama just appointed a fucking POLITICIAN to run the CIA!”  (He was referring to Leon Panetta, President Clinton’s former chief of staff.)  Snowden attributed the origins of his antipathy to US intelligence to his 2007-2009 experiences in the CIA.  Snowden later told Vanity Fair that the 2009 incident in the CIA convinced him that working “through the system would lead only to reprisals.” ""Much of what I saw in Geneva really disillusioned me about how my government functions and what its impact is in the world,"" he told the Guardian in June 2013. ""I realized that I was part of something that was doing far more harm than good.""    Snowden, if not yet a ticking time bomb, was certainly a disgruntled intelligence worker before he ever got to the NSA




CHAPTER FIVE
Contractor 

“Private contractors don’t clear employees. The government does.”-- 
                 Admiral Michael McConnell, Vice Chairman of Booz Allen Hamilton


  Snowden, age 26, returned from Europe and moved into his mother’s condo. He was not only unemployed now, having resigned the CIA without qualifying for any benefits, but his financial state had been hurt by the huge losses he had suffered playing the options market in Geneva.  His vision of himself as a secret agent, the unstoppable “Wolfking Awesomefox” may have also suffered.  According to the narrative he later supplied to the Guardian, he had become deeply concerned about the immoral way in which the CIA conducted its intelligence operations in Switzerland.  ""Much of what I saw in Geneva really disillusioned me about how my government functions and what its impact is in the world. I realized that I was part of something that was doing far more harm than good,"" Snowden told the Guardian. By way of example, he said he learned that the CIA had gotten a Swiss banker drunk enough arrested to be arrested when he drove, so the CIA could compromise him. Snowden, who did not drink himself, was appalled at this ploy.  Despite his growing antagonism towards the US government, he had not given up on, if not becoming a secret agent, working in the netherworld of secret intelligence.

    Although Snowden’s career had abruptly ended at the CIA, there still was a backdoor through which he could re-enter the spy world.  It was private corporations that hired civilian technicians to work for spy agencies as independent contractors.   By 2009, The CIA, NSA and other US intelligence services had outsourced much of the job of maintaining and upgrading their computer systems to these private companies.  They supplied the NSA with most of its system administrators and other information technology workers.  This arrangement allowed the NSA to effectively bypass budget limits and other restrictions limiting how many NSA technicians it could recruit.  Instead, of putting these workers on its own payroll, they nominally worked for, and received their paychecks from, private employers.  In fact, many of these outside contractors worked full-time for the NSA.

Snowden applied in April 2009 to one of these private companies, Dell SecureWorks.  It was   a subsidiary of the Dell computer company.  To diverse out of manufacturing computers, Dell had recently gone into the business of managing government computer systems for the NSA and other intelligence services.  As a leading specialist in the field of corporate cyber security, Dell had no problem obtaining sizable contracts for from the NSA’s Technology Directorate.  In 2008, the NSA had in effect outsourced to Dell the task of re-organizing its back-up systems at its regional bases.  Now Dell had to find thousands of independent contractors to work at these bases  In 2009, when Snowden applied,  Dell was seeking to fill positions at the NSA’s regional base in Japan. It first had to find technicians willing to go to Japan. Since Snowden had a long-time interest in going to Japan, he was more than willing to relocate to Japan.

    He had little problem obtaining the job.   Aside from his family connections, he had a single compelling qualification for the job—a top secret clearance. For an outside contractor such as Dell, such a security clearance was pure gold. If a potential recruit lacked a top secret clearance, before Dell could deploy him or her at the NSA, it needed a wait for the completion of a time-consuming background check.  If a recruit already had one, as Snowden did, he could begin working immediately.  

   The reason that Snowden still had his secrecy clearance, despite his highly-problematic exit from the CIA, was that the CIA had instituted a policy a few years earlier that allowed voluntarily-retiring CIA officers to keep their secrecy clearance for two years after they left. This “free pass,” as one former CIA officer called the two year grace period, had been intended to make it easier for retiring officers to find jobs in parts of the defense industry that required secrecy clearance.  This accommodation, in turn, made it easier for the CIA to downsize to meet its budget. 

Not only did Snowden retain his security clearance, but unlike when he had applied for his job at the CIA in 2006, he now could list on his resume two years experience in information technology and cyber security at the CIA.  All Dell could check was a single fact:  Snowden was indeed employed at the CIA between 2006 and 2009.  His CIA file, which contained the “derog,” was not available to Dell or any other private company.  Even though the CIA had “security concerns” about Snowden, as CIA Deputy Director Morell noted, it could not convey them to either Dell or the NSA.   “So the guy with whom the CIA had concerns left the Agency and joined the ranks of the many contractors working in the intelligence community before CIA could inform the rest of the IC about its worries,” Morell explained. “He even got a pay raise.”    Obviously, this was a glitch in the security system but, as a result of it, Snowden entered the NSA by the back door only five months after being forced out of the CIA.     

    For the next 45 months Dell assigned him various IT tasks at the NSA.  In June 2009, he was sent to Japan to work in the NSA complex at the Yokota air base outside Tokyo. He moved into a small one bedroom apartment in the nearby town of Fussia.   His initial job for Dell was teaching cyber security to Army and Air Force personnel.  In this capacity, he instructed US military officers stationed at the base in how to shield their computers from hackers.   Such security training had been required for military personnel dealing with classified material after several successful break-ins to US military networks by China, Russia, and other adversary nations.  Although it finally brought him to Japan, it was not a challenging or interesting job.

But Snowden found diversions in Japan.  In July 2009, he was joined in Japan by Lindsay Mills.  She had become an amateur photographer, specializing in arty self portraits. She also saw herself as a global tourist, writing in her blog after arriving in Japan that had she travelled to 17 countries.  Like Snowden, she also deemed herself, tongue and cheek, a “super hero.”  In this sense, her Internet avatar, was a match for Snowden’s “Wolfking Awesomefox,”

   In Japan, Mills and Snowden spent time with another American couple, Jennie and Joseph Chamberlin, who also worked at the Yokota base.  Jennie, a sergeant in the public affairs section of the US Air force, had been at Art College with Mills, and called herself in her blog the “Little Red Ninja.” Her husband, Joseph Chamberlin was a decorated US Navy pilot who now flew highly-sensitive intelligence-gathering missions from the Yokota base.  When Lindsay Mills arrived she made contact with Jennie, who in the next few weeks showed her many of the sights of Tokyo.  Jennie described Lindsay in her blog as her “super-model friend.” The two couples also went on expeditions in Japan together. Joseph Chamberlin had a car and, as far as is known, he and his wife were the only Americans at the base with whom Snowden socialized.  On August 17, 2009, the foursome attempted to walk up Mount Fuji, but they got lost en route to the tourist site.  Giving up on Mount Fuji, they wound up in the Mount Fuji gift shop.  Jennie described the misadventure in her Little Red Ninja blog:   “Our adventure started off a little rocky with our attempts to find the interstate.  Alas, our iconic mountain was obscured by cloud.  A short stop at the Mt. Fuji combination soba noodle stand/gift shop was enough to whet our appetite for the further exploration that is to come.”  The photographs that day show Snowden wearing Hawaiian shorts, and a black tank top emblazoned with an eagle and the letters USA.  They also show Mills wearing safari shorts, a brown sweater and what appears to be an engagement ring  (possibly to allay suspicions about her living with Snowden.)  “Ed was looking rather rednecky,” Lindsay commented on one the photograph.  Snowden described her, in turn, as “nerdy.”   Finally, after posing for photographs, they found the Suyama-guchi path.  But they never made it to the top. 

        Back in Tokyo, Snowden was still seeking to advance himself.  He attempted to get a college certificate by enrolling in a summer on-line course at the University of Maryland’s Asia program.   But, according to the program’s record, he did not succeed in receiving any credit or a certificate from the on-line University. 

Finally, in October 2009, Dell assigned Snowden a job in which he had direct access to the NSA’s computers. His new position was a system administrator, which is essentially a tech-savvy repairman. Dell was working on backup system code-named EPIC SHELTER.  For this contract, Dell was transferring large chunks of data from the NSA’s main computers in Maryland to back-up drives in Japan so if there was a communications interruption the system could be quickly restored.  Since most of the classified data was in its encrypted form, it had little value to any outside party.  Snowden’s job was to maintain the proper functioning of computers but, as a system administrator, he also had privileges to call up unencrypted files.  He sat in front of a computer screen all day looking for any problems in the transferring files to back-up servers.  The work was highly-repetitive and exceedingly dull.  Snowden found time to search for anomalies in the system and he claimed to have spotted a major flaw in the security system in late 2009. The flaw was that a system administrator in Japan worked as a singleton and could steal secret data without anyone else realizing that it had been stolen. It intrigued him enough for him to bring it to the attention of his superiors, as he later said. Snowden saw that a rogue system administrator like himself could use his computer privileges to download and steal documents in ways that would go unnoticed.  The emergence of a rogue system administrator was not that farfetched in 2009.   Hacktavists such as Julian Assange had adopted the battle cry: system administrators, or “syst admins of the world unite.”  Instead of asking them to “throw off their chains,” as Marx did, he asked them to send classified documents about secret government activity to the Wikileaks site. Snowden recalled in Moscow in 2014: “I actually recommended they [the NSA] move to two-man control for administrative access back in 2009.” To make his point even clearer, he added: “A whistleblower could use these things, but so could a spy.”  Not without irony, Snowden himself became that rogue system administrator some three years later at Dell. In fact, he later used the vulnerability he pointed out to steal NSA documents at Dell (before moving to Booz Allen.).

    In September 2009, Snowden made a ten day trip to India.  He later said he was on an official visit “working at the US embassy.”  He was still on the Dell payroll.  Hotel records show that he arrived at the Hyatt Regency hotel in New Delhi on September 2nd from Japan, and at 3:30 pm on September 3rd, checked into the Koenig Inn, a facility that was an annex to Koenig Solutions, a school that gave crash courses on programming and computer hacking.    According to Rohit Aggarwal, the head of the school, Snowden stayed there until September 10th while taking classes with a private instructor.   It cost $2,000 in tuition and fees, which Snowden prepaid from Japan with his own personal credit card.  Even though Snowden later said he only took courses in “programming,” the school’s records show that during that week he took intensive courses in sophisticated hacking techniques.  Although the course was entitled “ethical hacking” that was also a euphemism for teaching the techniques of illicit hacking. The course provided tutoring on hacker’s tools, such as “Spyeye” and “ZeuS,” that are used to circumvent security procedures.  It also demonstrated how these hacking tools could be customized by criminals and spies to break into files, plant surveillance programs, impersonate system administrators, assume the privileges of system administrators in a network, and capture the passwords of others.  On September 11th, Snowden, according to hotel records, left India for Japan.   While the stated purpose of the hacking training was to allow security consultants to detect intruders, it also prepared Snowden to be, if he chooses to be, an intruder in the NSA system.   

One problem with working as a contractor is that the standard two-year contracts are not necessarily renewed, making a contractor’s job essentially temporary employment. Nor is there much possibility for advancement for IT workers.  As one contractor told me “It is a dead end job with great pay.”   In the fall of 2010, Snowden’s contract in Japan with Dell SecureWorks came to an end.   Dell then offered Snowden a new position in the United States.

He now was assigned to work at Dell headquarters in Annapolis, Maryland. He rented a modest suburban house shaded by a Sakura cherry tree in suburb of Annapolis, Maryland.  Mills meanwhile was attending a two-week fitness training course at a Yoga camp that qualified her to be a yoga instructor. She then moved in with Snowden.  Even though she had been living on and off with Snowden during the past two years abroad, including while he worked at the CIA in Switzerland and the NSA in Japan, they had not shared a home in America up until now.   The now 25-year old Mills posted on Instagram “Finally in our first US place together.” She also put on line pictures of him in bed with her, who she now affectionately referred to in her posts as a “computer crusader.”  

   Dell meanwhile had him to work on problem- solving for its corporate clients.  In preparation for his corporate role, he shaved off this facial hair and, with Lindsay’s help, bought a Ralph Lauren suit.  These corporate clients were assisting the NSA, the CIA, and the Defense Intelligence Agency (DIA). Consequently, Snowden dealt with a wide range of intelligence officers, and gave presentations on the vulnerabilities at computer security at the DIA-sponsored Joint Counter Intelligence seminar.

His dealings with these US intelligence officers in no way mitigated his resentment of the intelligence establishment.  What began at the CIA in 2009 as objections to what he saw as the incompetence of his superiors grew into well-articulated disapproval of the way that the US government conducted its intelligence.  He found NSA surveillance particularly worrisome, later telling the Guardian: ""They [the NSA] are intent on making every conversation and every form of behavior in the world known to them.""  He claimed after defecting to Moscow that he had voiced his concerns about what he considered illicit surveillance to ten NSA officials, “none of whom took any action to address them.”  The NSA can find no record of these complaints but if Snowden had indeed complained to these officials while working for Dell, his superiors at Dell either didn’t notice or care that they had a very disgruntled employee on their hand.   He also made no secret of anger at the US government and the corporations that served it on the Internet.  He railed on the Ars Technica site against the complicity of private corporations, such as Dell, that assisted the NSA.  In his on-line posts in 2010, Snowden expressed loathing for the assistance that corporate America was providing the intelligence community.  “It really concerns me how little this sort of corporate behavior bothers those outside of technology circles,” he wrote under his True Hoo-ha alias.  He said he feared that America was already on “a slippery slope,” and suggested, perhaps adumbrating his own later actions, that this corporate assistance to US intelligence “was entirely within our control to stop.”  What the “computer crusader,” as Mills had playfully called him in her Internet postings, expressed in these angry Internet postings was an almost obsessive concern over individuals freely submitting to government authority.   “Society really seems to have developed an unquestioning obedience towards spooky types,” he wrote on Ars Technica without mentioning that he himself worked for a corporation, Dell that assisted spy agencies.  He asked rhetorically on this public forum whether the sinister slide towards a surveillance state “sneaked in undetected because of pervasive government secrecy?” 

     The outright contempt he expressed towards this “government secrecy” in no way prevented him from seeking even more secret work at Dell for the intelligence services. In February 2011, after his CIA security clearance ran out, he applied to renew it.  A new clearance required a new background check and filling out (again) the government’s 127-page standard form 86.  

Since 1996, background investigations for the NSA, like much of the computer work at the NSA, had been outsourced to a private company.  It had proceeded from the effort of the Clinton Administration to cut the size of the government by privatizing tasks that could be more efficiently done by for profit companies. US Investigations Services, or USIS as it is now called, which won the contract for background checks, was initially owned by the hedge fund Carlyle Group who later sold it to another hedge fund, Providence Equity Partners.  For the hedge funds, profits were the measure of success.  To increase its profits from the contract with the NSA, USIS had to move more quickly in concluding background checks since it did not get paid more extensive investigation.  In 2006, the government learned USIS’s background checks were often prematurely ended.  In Snowden’s case, as USIS did not have access to Snowden’s CIA personnel files, it did not learn about the pending security investigation of him. Nor did it learn from the Internet that he was a disgruntled employee. So Snowden’s new clearance was approved in the summer of 2011, allowing him to continue working for Dell on secret intelligence projects. 

Meanwhile, in August 2011, Mills began her own blog entitled “L’s Journey.” In it, she described herself as “a world-traveling pole-dancing super hero.”  By now, she was an accomplished photographer, specializing in taking self-portraits.  Many of her posted pictures were provocative poses of herself in her underwear and various states of undress. She wrote:  “I’ve always wanted to be splashed on the cover of magazines, with my best air-brushed look.” Her wish would be gratified two years later in way she did not anticipate.

   For his part, Snowden seemed happy to encourage her fantasy about being a super hero. He even gave her a Star-Trek-inspired head visor.  Despite all the concerns he voiced about privacy, he did not seem to mind her provocative posts.  On the contrary, he took photographs of her, telling her, at one point, that her photographs were not “sexy” enough.

Snowden meanwhile got offered by Dell a new position at an NSA Kunia regional base in Hawaii. Dell, which was in the process of expanding its government consulting business, wanted him to be a system administrator on the NSA’s back-up system. The NSA needed this system before it could upgrade new security protocols that would audit suspicious activity in real time.  In Hawaii, as in Japan, system administrators still worked as singletons. As Snowden had seen when working in Japan this solo work in an unaudited workplace provided an opportunity for a system administrator like himself to steal documents.  So he may have also realized that as a solo system administrator in Hawaii, he would have this opportunity. 

In any case, on March 15, 2012, he accepted the offer. Dell agreed to pay all his relocation expenses and provide him with a housing allowance.  

 He found a 3-bedroom house in Hawaii on-line, and arranged to move there on April 2, 2012. 1t was located at 94-1044 Eleu Street in the upper-middle class suburb of Waipahu, only a few blocks from the Royal Kunia country club.  It had a master bedroom with a walk-in closet, a patio deck in back shielded from public view by a clump of palm trees and a large garage with an automatic door. The move to Hawaii entailed a brief separation from his girlfriend since Mills had committed her to attending her girlfriend’s wedding in May.  After he left for his new assignment, she wrote on Instagram, “Sex toy party and then saying goodbye to my man -- well not goodbye so much as see you in two month/s.”  





CHAPTER SIX
Thief

 “We begin by coveting what we see every day”

                                    —Hannibal Lecter, The Silence of the Lambs

     In Hawaii in 2012, Snowden was living a very comfortable life. He was earning from Dell just over $120,000 a year.  His housing allowance from Dell paid the rent on his 1,559 square-foot house.   He had also leased a sporty car.  Looking back at this period of life from Moscow, he said he had been “living in paradise.”

He went to work five times a week, a 15 minute trip drive through a lush landscape with sugar plantations.  After passing through security, he parked his car in a sprawling parking lot, and entered the underground part of the NSA base known as “the tunnel.”  He said in describing the atmosphere, “You’re in a vaulted space. Everybody has sort of similar clearances, everybody knows everybody. It’s a small world.”  He said that to relieve the tediousness of the work, every two months or so his fellow workers would pass around a naked picture that showed up on their screens.  He explained: “You've got young enlisted guys, 18 to 22 years old [who] suddenly been thrust into a position of extraordinary responsibility where they now have access to all of your private records. In the course of their daily work they stumble across … an intimate nude photo of someone in a sexually compromising position.”  Snowden, as will be recalled, was no stranger to posting lewd photographs. Before he joined the CIA, he had posted pictures of himself mooning on the Internet.  He also knew that copying any files, including photographs, was a violation of NSA rules.  But he did not report this illicit activity at the NSA even though he later claimed that it occurred regularly.  He joked in his Moscow interview with the Guardian that some of the nudes were “extremely attractive” and that viewing them was, as he put it, “a sort of the fringe benefits of surveillance positions.” 

    Snowden also had an interest in American politics. He identified with the Libertarian Party, and at the NSA he made no effort to conceal his political support of its causes.  He became an active partisan of Congressman Ron Paul, the leading figure in the Libertarian Party in 2012. “He's so dreamy,” Snowden posted on the Ars Technica site in March 2009 (just after he registered to vote in North Carolina.)   Since Paul was running as a Presidential candidate in the 2012 Republican primaries, Snowden sent the Paul election committee a contribution of $500.  Snowden’s attraction to the Libertarian ideology of Ron Paul was not that surprising. At the core of Paul’s libertarianism was a deep hostility to the intrusion of the government into private lives.  Snowden shared this same hostility towards government authority, as was clear from his Internet postings.   Like other libertarians, Snowden believed that citizens should not be shackled by Federal law.  He later told a Libertarian gathering, at which Ron Paul also spoke, “Law is a lot like medicine.  When you have too much it can be fatal.""   Paul also ardently opposed any form of gun control.  Not only did Snowden support this position in his Internet postings, but so did his girlfriend Lindsay Mills in her own on-line postings.

  Most relevant to his future activities at the NSA, Snowden whole-heartedly agreed with the position of Paul on the dangers inherent in government’s surveillance of US citizens. Paul described the CIA, the organization which had forced Snowden out, as nothing short of a “secret government” and that ""In a true Republic, there is no place for an organization like the CIA."" He also railed against NSA surveillance.  

As is clear from Snowden’s Internet postings, he, like Ron Paul, expressed doubts about the competency of the intelligence agencies of the U.S. government.  Snowden’s own disillusionment about the government may have begun with his rejection, and perceived mistreatment, by the Special Forces of the US Army. It was almost certainly reinforced by his ouster from the CIA.  He later told the Guardian that he was disillusioned as early as 2007 when he learned about the CIA’s methods in compromising Swiss citizens.  He also told the New York Times after he arrived in Moscow that he came to realize while working in the CIA that any attempt redress these wrongs against him by working through the system would only lead to further punishment for him. His critical view of the US government only hardened during the years he worked at the NSA. He described his NSA superiors as “grossly incompetent,” as he later explained to a journalist from Wired magazine in Moscow. At the NSA, he said employees were kept in line by “fear and a false image of patriotism.”  He said that he saw his fellow workers cowed into “obedience to authority” and his superiors induced to break the law.  He became particularly concerned with what he called the “secret powers” of the NSA.  He saw them as “tremendously dangerous.”  By this time, Snowden was fully aware that that the NSA conducted domestic surveillance because he had used his privileges as a system administrator in 2012 to obtain the NSA’s inspector general’s report on a 2009 surveillance program. 

     Nevertheless, Snowden continued to work at the NSA, where he was, as he put it, “making a ton of money.”  Mills joined him in his “paradise” in June 2012, shortly before his 29th birthday.  Just before leaving Annapolis, Maryland for Hawaii, Mills posted a semi-nude picture of herself on her blog, “L’s Journey.” In it, her face was covered with a blanket.  The caption under it read: “Trying to avoid the changes coming my way.” In Honolulu, she found “E,” as she called Snowden in her blog, “elusive.”   She found that he preferred to stay at home and avoided meeting other people to the point that her friends “were not quite sure that E. existed.”  At best, one of Lindsay’s friends in an acrobatic class caught a glimpse of Snowden picking her up one afternoon.   Even though Mill’s dated Snowden for eight years, most of her friends, with the exception of Jennie and Joe Chamberlin in Japan, had never met Snowden.  If he had other social interactions in Hawaii, no one he met came forward and spoke of meeting him even after he became world famous.   

    Two days after his 29th birthday dinner on June 21st, she described him playfully as a “goof.” She wrote in her blog:”The universe is telling me something and I'm pretty sure it's saying get out, Fuck you Hawaii.”  In early July, she summed up her shaky situation with Snowden, in another blog, writing: “I moved to Hawaii to continue my relationship with E. [but] it has been an emotional roller coaster since I stepped off the plane.”  She also found it odd that Snowden would work on his computer at home hooded under a blanket, as she would later tell the FBI.   She diverted herself by organizing a pole dancing studio in the 400 foot garage of the house. She also joined a New Age yoga studio called “Physical Phatness,” a local acrobatic performance group, and, on Friday nights, pole-danced at the Mercury lounge in downtown Honolulu.   

      That same July, Snowden had other things on his mind, including an attempt to advance himself.  Although his position at Dell as a system administrator was a well-compensated one, especially for a 29 year old with no formal education, it carried little prestige.  He sat from 9 AM to 5 PM in a windowless room watching a bank of monitors in the so-called “tunnel” at the NSA.  Many of those who worked him were, as he described them, “eighteen year old
soldiers.  Presumably, they had little interest in discussing with him the weightier issues of the world.  Working as an outside contractor was also a dead-end job that hardly matched the vision he had of himself in his Internet postings.  In real life in a cubicle in the NSA, he decidedly was not the “Wolfking Awesomefox” heroic image he had of himself in his dream vision.  

   Whatever his motive, he decided to apply for a position in the NSA itself.  He apparently believed that if he scored high enough in its entrance exam, the NSA would invite him to join it as a Senior Executive Service officer, or SES, which was the civilian equivalent in rank and pay to a flag officer in the US armed forces.  To achieve this SES job, Snowden used his privileges as a system administrator at Dell to hack into the NSA’s administrative files and steal the answers to the NSA exam. As the NSA’s subsequent post mortem would find out, it was the first known document that Snowden took at the NSA.  But it was not the first time he had used his hacking skills to attempt to advance himself.  At the CIA in 2009, as he late said in Moscow, he had added text to his annual evaluation in what he termed “a non-malicious way” to prove a point.  His CIA superior took a much darker view of that incident when the hack was detected, calling for an investigation that, it will be recalled, ended Snowden’s CIA career. At the NSA his intrusion, however, was not detected for almost a year.   “He stole the [NSA] test with the answers, and he took the test and he aced it,” former NSA Director Michael McConnell recounted in a 2013 interview, “He then walked into to the NSA and said you should hire me because I am this good on the test.”   The issue of why he attempted to gain entry into the upper ranks of the NSA in the late summer of 2012 is less clear.  If his Internet posting and Libertarian riffs are an indication of his state of mind in 2012, he was hostile to the surveillance activities of the NSA. If so, it made little sense he would seek a permanent career in the NSA. If this attempted career is considered in light of the career move he made six months later in March 2013 which, as he himself admits, was for the express purpose of getting at tightly-held documents stored on computers that were not available to him in his job at Dell, he may have been seeking wider access in 2012 for a more nefarious purpose than a NSA job.     

In any case, despite the near-perfect high grades he scored, the NSA did not offer him a position in the senior executive service job.   While Snowden may have believed such results would elevate him, the NSA’s offer did not meet his expectations. “It was totally unrealistic for Snowden to expect to get a SES position,” a former senior NSA officer told me. Snowden ambitions may have been disappointed in this instance, but it did not prevent him from later claiming that he had been a senior adviser to the CIA and also a senior adviser to the Defense Intelligence Agency.  

  Instead of an SES position, the NSA offered a lowly G-13 job as an information technology worker, which was not an improvement on his job at Dell. He took this slight as evidence of the NSA’s incompetence, subsequently joking to a reporter in Moscow that his ability to steal the test answers should have been seen as a qualification for the NSA job.  In September 2012, he turned down the NSA offer.  If he was to advance himself now, he had to find a new way.




CHAPTER SEVEN
Crossing the Rubicon



“What I came to feel is that a regime that is described as a national security agency has stopped representing the public interest and has instead begun to protect and promote state security interests. “
          --Edward Snowden, interviewed in Moscow 2014

       Soon after Snowden failed to get a SES job at the NSA, he intensified his rogue activities. At that time, Dell was tasked with building an enhanced backup system for the NSA in Hawaii.  Deputy Director Ledgett explained that part of Snowden’s job as a system administrator under contract to Dell was transferring files held at Fort Meade to back-up computers in Hawaii.  He “was moving copies of that data there for them, which was perfect cover for stealing the [NSA] data.”   Snowden took advantage of this cover. 

     Snowden expanded his own rogue operation, as Ledgett reconstructed the breach, through the fall and winter of 2012.  There was little risk of him getting caught.  The security measures at the Hawaii base presented no obstacles to him since, as a system administrator, he had privileges that allowed him to copy documents that had not been encrypted.  Indeed, it was part of the process of building the backup system.   The flaw he had pointed to in Japan in which system administrators working solo could safely steal files also existed in Hawaii.  This time, however, instead of bringing it to the attention of the NSA, he used it to himself steal files. He could be confident that his 2012 thefts of documents would go undetected because the NSA’s base had not yet installed an auditing system.  Such real-time auditing of the movement of documents, which was done at NSA headquarters in Fort Meade and most of the NSA’s regional facilities, had not yet been installed at the Hawaii base because a lack of bandwidth prevented the safe upgrading of the software.  This auditing software was scheduled to be installed after the backup system was completed in 2013. The Kunia base was one of the last NSA bases which did not monitor suspicious transfers of files on a real-time basis.  Snowden certainly was certainly aware of this deficiency.  He later pointed out in his interview in Wired magazine in Moscow that the NSA base where he worked did not have an “audit” mechanism.  This security gap allowed Snowden, using his system administrator’s credentials, to copy classified data to a thumb drive without anyone being able to trace the copied data back to him. And, according to the NSA’s subsequent damage assessment, he stole many thousands of pages while working for Dell in 2012 before he contacted journalists.  Deputy Director Ledgett subsequently reported that the NSA analysis the 58,000 documents that were given by Snowden to journalists in June 2013 showed that most of them were taken by Snowden while he was still working at Dell. 

This 2012 theft was made even more serious by the interconnection of NSA computers with those of other intelligence agencies.  It will be recalled that prior to the 9/11 attack in 2001, NSA data had been protected by “stove-piping” that separated NSA’ computers from networks used by other intelligence services.  After the 9/11 Commission concluded that part of the reason why US intelligence agencies were unable to “connect the dots” in advance of the attack was because this “stove-piping, the NSA stripped away a large part of its “stove-piping.” One result was that the NSANet, which Snowden had access to at Dell in 2012, became a shared network.  It had common access points.  General Hayden described them to me as the equivalent of “reading rooms” in a library. They served as a means for NSA workers to exchange ideas about the problems they were encountering on various projects for the intelligence community.  In maintaining them, system administrators, or “system admins,” like Snowden acted as the “librarians.” If a stem administrator copied data from this network, no one knew. 

 For Snowden, the NSANet, which included CIA and Defense Department documents, provided a rich hunting ground for Snowden in the fall and winter of 2012. Many of the documents he took off the NSANet revealed not only operations of the NSA but also those of the CIA and Pentagon.  By taking them he had come to a Rubicon from which there would be no return.  He later explained in an email to Vanity Fair from Moscow, “I crossed that line.”

As far as is known, he was not sharing them with any other party prior to May 2013.  He was not even yet in contact with Poitras, Greenwald or any other journalists. Presumably, Snowden was collecting them drives, despite the risks that possessing such a collection of secrets might entail, for some future use. 

But why would Snowden jeopardize his career and, if caught, his freedom, by undertaking this illicit enterprise?  He may have had by now strong ideological objections the NSA’s global surveillance. As he said later in Moscow,  “we’re subverting our security standards for the sake of surveillance.”  But ordinarily even ideologically-opposed employees don’t steal state secrets and risk imprisonment.  If they are disgruntled, they seek employment elsewhere.  Certainly, Snowden, with his three years experience working for Dell, would have little problem finding a job as an IT worker in the booming civilian sector of computer technology.  Instead of resigning, he sought to widen his access to NSA documents. This behavior suggests to me that he had another agenda.  One possible clue to it is the first document he took; the NSA exam. The secret in that document, the answers to the questions, were a form of power to him: power to burrow deeper into the executive structure of the NSA.  It would unlock the door to door to even the more powerful documents containing the NSA’s sources stored in Level 3 compartments.    His later actions demonstrated that he equated the possession of such secrets with personal power.  For example, after he arrived in Moscow in 2013, he bragged to James Risen of the New York Times that he had access to secrets that gave him great leverage over the NSA. He told him specifically  his access to “full lists” of NSA’s agents and operation in adversary countries could, if revealed, closed down the NSA’s capabilities to gather information in them.     

Such a fascination with the power of government-held secrets has always been a core concern of radical libertarians. In his 1956 book The Torment of Secrecy: The Background and Consequences of American Security Policies, the sociologist Edward Shils brilliantly dissects the fascination with secrecy among individuals on all ends of the political spectrum who fear that government agencies will use covert machinations against them.  In Shils’ concept, this anti-government counter-culture is “tormented” by the government’s possession of knowledge unavailable to them.  Those who subscribe to this culture tend to believe that the agencies that hold these secrets, such as the FBI, CIA and NSA, can control their lives.  The other side of this torment over others holding secrets is the belief that by obtaining such secrets will give individuals power over government. 

   Snowden himself was concerned with a coming “dark future,” which he later described as follows: “[The elites] know everything about us and we know nothing about them – because they are secret, they are privileged, and they are a separate class… the elite class, the political class, the resource class – we don’t know where they live, we don’t know what they do, we don’t know who their friends are. They have the ability to know all that about us. This is the direction of the future but I think there are changing possibilities in this.”

To change the “dark future,” someone would have to know the secrets of the “elites.”  Snowden saw himself as one of the few individuals in a position to seize state secrets from those elites.  He had both a SCI, or Sensitive Compartmental Information, clearance, a pass into a NSA regional base and the privileges of a system administrator.  This position allowed him to steal state secrets—and whatever power that went with them. And if he moved to a position that gave him greater access, he would, in this view, amass even greater power.
 Whatever his actual agenda in 2012, we know that he tested possible reactions to a leak exposing NSA surveillance in the United States. He asked fellow workers at the NSA base in 2012, according to his own account: “What do you think the public would do if this [secret data] was on the front page?”    He asked this question at a time when a large number of State Department and US Army classified documents had been posted on Julian Assange’s Wikileaks website.  While these Wikileaks revelations of secrets were making front-page headlines, the NSA documents that Snowden had taken were far more explosive since they contained NSA intelligence secrets. And no NSA document had ever been published in the press in 2012.  One reason why NSA documents remained secrets, as all intelligence workers at Dell were told when they signed their oath, was that the unauthorized release of communications intelligence documents could violate US espionage laws. 

Even so, there was no shortage of activists overseas, such as Assange, who would be willing to publish NSA documents revealing its global surveillance activities. And in answer to his rhetorical question, he no doubt knew that they would cause an immense reaction on the front page. Cyber punks, as these activists called themselves, tended to be hostile to the NSA since they believed (correctly) that it monitored their activities on the Internet.  This anti-NSA view was well represented at the Computer Chaos Club convention in Berlin. In addressing these cyber punks Assange and his followers at Wikileaks declared that the main enemy in cyber space was the NSA. 

In the late fall of 2012, Snowden further tested his newly found powers. Using an alias, he reached out to some of the leading hacktavists.  It opened a door for him to the darker side of cyber space.      

CHAPTER EIGHT

Hacktavist

. “When you gaze long into an abyss the abyss gazes into you”. ~ Friedrich Nietzsche  

By 2012, the alienated hacktavist battling to unlock the secrets of evil corporations and governments had become a stock hero of popular culture.  For example, in the prize-winning Girl with the Dragon Tattoo trilogy by Stieg Larsson, which sold 90 million copies, the heroine, a self-educated hacker in her twenties named Lisbeth Salander steals incriminating documents from computers that provides journalist Mikael Blomkvist with scoops that save the progressive magazine he edits from bankruptcy.  Her sociopathic behavior, which includes embezzling millions of dollars, extortion, maiming and murder, is accepted by the journalists at the magazine because her hacking exposes crimes and abuses of power.  In the realm of non-fiction universe, hacktavists also use their skills to attempt to redress perceived abuses of power, For example in December 2010, the group “Anonymous,”  whose members called “Anon” often wear Guy Fawkes masks resembling those worn in the 2006 movie V Is For Vendetta, launched a successful denial of service attack called “Operation Avenge Assange,” It was aimed at paralyzing companies, including PayPal and MasterCard that refused to process donations for Wikileaks because these “anons” believed that these companies were stifling the freedom of the Internet by hindering the money flow to Wikileaks. Since hacktavists often use illicit means to redress their grievances, such denial of service attacks, theft of passwords and hacking into computers, they must conceal their true identities to avoid the retribution of the FBI and other law enforcement agencies.  This requires them to operate on the dark side of cyber space which has become known as the dark net.      Fortunately for hacktavists, the  dark net is accessible to anyone.

  It is a place frequented by those that want to avoid laws, regulations and government surveillance. Its denizens include cyber saboteurs, industrial spies, purveyors of illegal contraband, spammers, pranksters, identity thieves, video pirates, bullies, slanderers, drug dealers, child pornographers, money launderers, contract killers, inside traders, anarchists, terrorists, and the intelligence services of many countries.

   Sue Halpern writing about it in the New York Review of books noted: “My own forays to the dark Net include visits to sites offering counterfeit drivers’ licenses, methamphetamine, a template for a US twenty-dollar bill, files to make a 3D-printed gun, and books describing how to receive illegal goods in the mail without getting caught. There were, too, links to rape and child abuse videos “

    To operate effectively on the dark net, a mask of anonymity is often necessary.  But it is not easy to completely hide enes tracks in cyber space.  The way that the Internet ordinarily works is that whenever an individual sends emails, instant messages, or visits a websites, his or her identity can be referenced by the IP address assigned to him or her by their internet service provider.    The problem is that if dark side users’ IP address is discoverable, they obviously cannot remain anonymous.  So, to evade this built-in transparency in the Internet, dark side users have come to rely on ingenious software to hide their IP address. The most commonly used software for this purpose is TOR.  It was first called The Onion Router, since it moves IP addresses through multiple layers, but it quickly became known simply by its acronym, TOR.   TOR software hides the IP address by routing messages through a network of TOR-enabled relay stations, called “nodes.” Each node further obscure the user’s IP, even from the next node in the network. This scrambling allows messages to exit the chain of TOR nodes without an easily discoverable IP.  By doing so, it “anomizes” each user of the dark side.

   Because of the anonymity it provides, TOR became the software of choice for individuals and organization who wanted to hide their identity.  For example, TOR software made possible Silk Road, which acted as an exchange for drug dealers, assassins, safe crackers, and prostitutes until it was closed down by the FBI in 2011.  It was created by Ross Ulbricht, a libertarian who wore a Ron Paul t-shirt, “to create a website where people could buy anything anonymously, with no trail whatsoever that led back to them.” (Ulbricht received a life prison sentence for running this criminal enterprise in May 2015.)  To eradicate the Internet trail, Silk Road employed TOR software.   

 TOR was also employed to steal and transfer classified secrets by Private Bradley Manning (now called Chelsea Manning.)  He used TOR software to transfer some 50,000 diplomatic cables and military reports from his laptop to Julian Assange’s Wikileaks website. Eventually Manning was identified by a fellow hacker, convicted by a military court for violations of the Espionage Act, and sentenced to 35 years in prison.  TOR enabled Wikileaks to publish other secret data, such as the theft of Sony’s files allegedly by the North Korean intelligence service in 2015.  It was the means for guaranteeing anonymity to the IT workers who responded to his by now famous clarion call “System admins of the world unite.”  It allowed system administrators who opposed the “surveillance state,” as well as other disgruntled employees of government agencies or corporation, to send documents they copied to the Wikileaks website without revealing their IP addresses.  Since Wikileaks did not know the identity of their sources, they could not be legally compelled to reveal them.   ""Tor's importance to WikiLeaks cannot be overstated,"" Assange said in an interview with Rolling Stone in 2010.  Indeed without the anonymity provided by its TOR software, Wikileaks could not have easily entered into a document-sharing arrangement major newspapers, including the Guardian, New York Times, Der Spiegel, Le Monde and El Pais.  Through the magic of TOR, these newspapers simply attribute their sources to Wikileaks which, in turn, made Assange a major force in international journalism/.

    Ironically, TOR originally was a creation of US intelligence.  In the early 2000s, the US Naval Research Laboratory and the Defense Advance Research Project Agency (DARPA) developed it to allow US intelligence operatives to cloak their movements on the Internet. They could anonymously manipulate web sites operated by Islamic radicals, for example, and create their own Trojan Horse sites to lures would-be terrorists and spies.  As it turned out, that use of TOR software had a conceptual flaw.  If US intelligence services used it, the targets could figure out that anyone visiting a site without an IP address was using TOR software to hide it. If TOR was exclusive used by US intelligence services, the targets could further deduce that all the anonymous visitors were avatars for American intelligence.  It would be analogous to undercover police using pink-color cars that civilians did not use.

   To remedy this flaw, the US government in 2008 made TOR software open-source and freely available to everyone in the world.   It even provided funding for its promulgation with the State Department, the National Science Foundation, and the Broadcasting Board of Governors financing TOR’s core developer.  The public rationale for this generosity was that TOR could serve as a tool for, as the State Department called it, “democracy advocates in authoritarian states.""  The result was TOR software became a tool of both intelligence services and their adversaries. 

    As TOR software became widely used by adversaries (as well as common criminals), the NSA sought to find vulnerabilities in it.  “It should hardly be surprising that our intelligence agencies seek ways to counteract targets’ that use TOR software to hide their communications, explained a NSA spokesperson.  The NSA’s adversaries also took an interest in identifying TOR users. 

TOR software also took on a cult-like importance to hacktavists concerned with the US government tracking their activities.  An illuminating insight into the mind-set of the TOR hacktavists is provided by Catherine A. Fitzpatrick in her 2013 book Privacy For Me Not For Thee.  She describes these hacktavists as largely “radical anarchists,” who believe “the state is all-powerful, that law-enforcement is so strong that it will prevail anyway, and that they are a persecuted minority.”   As a refuge against the surveillance of the state, and in particular the NSA, they not only hide attempt to their own identity nut use encryption to obscure their messages.  Their goal is free their movements from “of any interference from law-enforcement.”  In this mind-set, according 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 to be successfully there needed to be such a proliferation of TOR servers that the NSA could not piece together IP addresses. The problem was that in 2012 the TOR project, as they called it, was still a very tiny operation in 2012.  It employed less than 100 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 was Jacob Appelbaum, a charismatic 28-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 with many in the hacktavist culture, the main enemy was the NSA. After all, the NSA had a vast army of computer scientists working to unravel TOR software.   Appelbaum was also well connected in this culture.  He was the North American representative for Wikileaks before he moved to Berlin in 2013. He also managed Wikileaks’ cyber security when it released classified documents in Iceland in 2010.  He was so well-regarded among hacktavists that Assange chose him as his keynote speaker replacement at the “Hackers of the Planet Earth” (HOPE) convention in New York City.  Assange also sung his praises, telling Rolling Stone “Jake [Appelbaum] has been a tireless promoter behind the scenes of our cause.”   For its part, Rolling Stone entitled its profile of Appelbaum, “Meet the most dangerous man on the Internet.”   The reason that Assange needed a replacement for this particular event was that he feared he would be arrested if he came to New York because he had released the Manning files on Wikileaks.

   In Berlin, Appelbaum went to extreme lengths to protect himself from American surveillance.  For example, when George Packer interviewed him for the New Yorker, in 2014, he insisted on meeting with Packer naked in a sauna so he could be sure Packer did not have a recording device (other than his notebook.)  Appelbaum stated repeatedly in other interviews that he was being spied upon by America.  While his claims may have sounded paranoid to his interviewers, as a character in Joseph Heller’s Catch 22 famously said, “Just because you are paranoid doesn’t mean that you are not being followed.”   In any event, Appelbaum acted to defeat the perceived surveillance. 

Runa Sandvik was another principal core developers in the TOR project in 2012.  A Norwegian national in her mid-twenties, she wrote in 2012 a well-followed blog for Forbes on Internet privacy in which she identified herself as a privacy and security researcher working at the intersection of technology, law and policy.  As a close associate of Appelbaum’s, she worked tirelessly to extend TOR’s cloak of anonymity against the surveillance of the NSA and other would-be intruders of privacy.  Appelbaum and Sandvik shared another distinction. They both came in contact with Snowden before he went public and while he was still working for the NSA in Hawaii.

Snowden was in 2012 a major advocate of TOR software. He made no secret of his concerns about it electronic interceptions.  He even wore to work a jacket with a parody of the NSA insignia, which, instead of merely depicting the NSA eagle, show the eagle clutching AT&T phone lines.  He had also become a member of the Electronic Freedom Foundation, the digital rights organization that was helping finance TOR.  His efforts on behalf of TOR were not limited to symbolic gestures. Through his work as a system administrator for Dell, he had found documents revealing NSA efforts to defeat TOR’s ability to camouflage its user’s identity on the Internet. Though not yet successful, he found that the NSA was attempting to build back-door entry ways into TOR software.      He also knew that the NSA was becoming increasingly hostile to the spread of TOR software.  One of the NSA documents that he illicitly downloaded was entitled “TOR Stinks.” It described the NSA’s enormous but not fully successful efforts to penetrate TOR servers.  In addition, he downloaded NSA documents describing programs begun in 2012 that aimed at searching the Internet for the cyber-signatures of foreign parties suspected of hacking into US government systems.  So he knew that the NSA considered the TOR movement an enemy.

Nevertheless, Snowden worked to assist the TOR movement. He created TOR’s main exit node in Hawaii in 2012.  This activity required a two gigabyte server called “The Signal,” which he described as the largest TOR relay station in Honolulu.
Sandvik first heard directly from Snowden in November 2012.   At the time, he wrote her under the alias “Cincinnatus,” but also supplied his real name and address in Hawaii so that she could supply him with TOR stickers. So she knew his identity seven months before he went public.  He would later tell Sandvik from Moscow that he had been “moonlighting” on behalf of the TOR cause at the NSA.  By “moonlighting” he meant that in 2012 he had two jobs: Officially he was working as an NSA system administrator; unofficially he was 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.”

  By November 2012, while still working for Dell at the NSA, his dual role led him to organize a “crypto party” aimed at finding new recruits for TOR.    The “crypto party” movement itself had been started in 2011 in Australia by Asher Wolf, a radical hacktavist and anarchist living in Melbourne.  She promoted them not unlike the tupper-ware parties of the 1950s.  They worked as follows. The party organizer, usually with a representative of the TOR project, advertised the party on the Internet.  Attendees were encouraged to bring their own laptops so they could install TOR as well encryption software in them. The attendees then would 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 “crypto party.”  Wolf’s idea was to use these gatherings to expand the realm of TOR. 
   On November 18, 2012, Snowden launched his initial crypto party.  It was called the “Oahu Crypto party” and had its own web page. He told Asher Wolf that it would be the first Crypto party in Honolulu. She wrote him 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 which the NSA might consider subversive of its battle against TOR.  He even invited his fellow NSA workers in Hawaii as well as others in the local computer culture.  He asked Sandvik, who was living in Washington DC at the time, to participate, proposing that she co-host it with him in Honolulu. He scheduled it for December 11, 2012.  He suggested that TOR stickers that could be used as “swag” to lure an audience.     According to her account, Snowden informed he that he “had been talking to some of the more technical guys at work into setting up some additional fast servers” for TOR.  His “work” place at the time was the NSA. If so, he had already attempted to find co-workers at the NSA who might be interested in attending an anti-NSA surveillance presentation.  

    Sandvik not only agreed a to be Snowden’s co-presenter but she made the Oahu Crypto party a TOR-sponsored event.  Sandvik flew to Honolulu on December 6, 2012. It was a fourteen hour flight and a relatively expensive one.  She later told Wired magazine that the invitation from Snowden coincided with her plan to take a “vacation in Hawaii.”  Whatever her reason, it brought her in direct contact with a TOR supporter with access to the computers of its main enemy, the NSA.  

On December 11, 2012, following Snowden’s instructions, Sandvik arrived shortly before 6 PM at the Fishcake furniture store in downtown Honolulu.  She proceed to the back of the store where there was a public space called the Box Jelly.  It was used mainly for counterculture events. Folding chairs and work tables had already been set up, Snowden was there waiting for her with Lindsay Mills, who he introduced to Sandvik as his girlfriend.  He told her that she was there to film the event.

     Mills did not mention this Crypto party in her blog. But that Snowden brought her and introduced her to Sandvik suggests that he did not keep secret from her his activities to further TOR.

The event started at six PM sharp. By Sandvik’s count, about twenty people gradually filled the room. Some of them were from the local “Hi-Cap” computer club and other attendees were from Snowden’s NSA base.  Snowden began the presentation by giving reasons why Internet users needed to defend their privacy by using both encryption and TOR software. According to one attendee who asked not to be identified by name, Snowden, while not revealing that he worked for the NSA, spoke with such precise knowledge about government surveillance capabilities that he suspected Snowden worked for the government.   Snowden next introduced Sandvik, who took the podium and discussed the work of the TOR project, stressing the importance of expanding the TOR network.  Following their presentations, Snowden and Sandvik took questions from the audience.  

  The Oahu crypto party, according to Sandvik, ended about 10 PM.   No one objected to Mills making a video of the meeting even though it was dedicated to the idea of protecting privacy.  The video was not posted on the Internet so presumably Snowden wanted it for his own purposes.  Afterwards, Sandvik went to a local diner called Zippy’s for a late dinner.   She left Hawaii two days later.

 Even though a number of the prominent hacktavists he invited were unable to attend, Snowden declared the Crypto party a huge success in his after-hours report. One of the people Snowden invited under the alias Cincinnatus was Parker Higgins, who was a prime mover in the previously-mentioned Electronic Freedom Foundation. He now lived in California where he had founded the San Francisco Crypto Party. (Higgins would make headlines in 2013 by flying a chartered blimp over the NSA’s secret facility in Utah and photographing it from the air).   Despite Snowden’s efforts, Higgins wrote him that he was unable to attend the December Crypto Party because of the high price of the airfare that month between San Francisco and Honolulu. (Higgins was hardly poor: his family home in Oahu had been rented to President Obama for two of his vacations in Hawaii.)  As a consolation, Higgins told Snowden that he would try to attend Snowden’s next Crypto Party, which was scheduled for February 23, 2013.  

Even while he used his position as a system administrator at Dell for the NSA to download secret documents, Snowden remained in touch with some of the leading figures in the TOR project under his various aliases. He also continued to invite activists to his crypto parties and he openly advertised the Oahu Crypto Parties on the Internet until 2013.  It certainly was not the “loose lips sink ships” mind set of the NSA’s Cold War days. It better reflected on what CIA Deputy Director Morell, who reviewed the situation in 2014 as a member of President Obama’s NSA Review Committee, described as the NSA’s new “culture of transparency.” Even though the NSA’s activities were largely walled off to the outside world, he found that the NSA in the post-Cold War age had encouraged its technical workers to freely discuss challenges that arose in its computer operations. ‘The idea was to spread knowledge and learn from the successes of others,” Morell wrote, “but it created an enormous security vulnerability, given the always-existent risk of an insider committed to stealing secrets.”   According to a former intelligence executive, this new “open culture,” exemplified by largely unrestricted entry to the NSANet by civilian contractors,” fit the culture of the young civilians on the “geek squads” who now ran the NSA’s computer networks.

  It was remarkable that even in such “open culture “Snowden’s crypto party, TOR station, and other anti-NSA activities could go unnoticed. After all, ten or so NSA workers attended the first party it is not unlikely that many of them recognized him as their co-worker.  If so, they knew (as did Sandvik and Mills) that the TOR advocate “Cincinnatus” was Snowden.  He had also not been shy in contacting via email notable enemies of the NSA, such as Jacob Appelbaum, Parker Higgins and Asher Wolf on behalf of the “Oahu Crypto Party.” If anyone, including the security staff of the NSA, had been on the lookout for dissident intelligence workers, this well-advertised gathering, and its organizer, might have been of interest.  In 2014, I asked a former top NSA executive whether such activities on behalf of TOR by a NSA employee would arouse the attention of the NSA’s own “Q” counterespionage unit.  He answered, “Snowden was not a NSA employee.”  As a contract employee of Dell residing in the United States, the NSA could not legally monitor his private activities or intercept his communication.  To do so, would require a FBI request approved by the FISA court.  So Snowden/Cincinnatus was free to operate openly in recruiting NSA workers, hacktavists and computer buffs for his events. Ironically, adversary intelligence services searching for disgruntled intelligence workers had no such constraints.       


CHAPTER NINE
The String-Puller

“It wasn’t that they put it on me as an individual — that I’m uniquely qualified [or] an angel descending from the heavens — as that they put it on someone, somewhere.” 

            --Edward Snowden in Moscow, 2013



Downloading NSA documents was not Snowden’s only rogue activity while working at the NSA for Dell in 2012. Three weeks after the Crypto party, Snowden began anonymously contacting a high-profile journalist, He used the same alias “Cincinnatus” that he used with Sandvik, and to advertise the Oahu Crypto Party.  The journalist to whom he wrote On December 1, 2012, was Glenn Greenwald, the previously-mentioned Rio-based columnist for the Guardian.
   Greenwald had not always been an activist journalist. Up until 2004, Greenwald was a litigation lawyer at the elite New York firm of Wachtell, Lipton, and Rosen & Katz.   He was also an entrepreneur owning part of Master Notions, a company which, among other things, had a fifty percent financial interest in the pornographic website HJ (an acronym which originally stood for “Hairy Jock.”)   All did not go well with this enterprise.  In 2004, Greenwald became involved in an acrimonious law suit with his other associates in HJ.  As a result, he had a number of open legal judgments filed against him, including an $85,000 lien by the IRS.  

   After resigning from his law firm in 2005, he moved to Rio de Janeiro and began a new career as a blogger for the Internet magazine Salon.  He wrote fierce, and often brilliant, polemics against US government surveillance and other perceived intrusions on personal privacy The extent of his bitter antagonism to the activities of the “surveillance state,” as he called it, was reflected in the title of his 2007 book, How Would a Patriot Act? Defending American Values from a President Run Amok.  His position on surveillance was unrelenting, even when it came to the president. “By ordering illegal eavesdropping, the president had committed crimes and should be held accountable for them,” Greenwald wrote.      When Barack Obama became President in 2009, Greenwald also attacked him for breaking the law by “ordering illegal eavesdropping.”   Because of his opposition to President Obama, he contributed money to the libertarian campaign of Ron Paul, the same candidate to whom Snowden gave money.

  In August 2012, he had transferred his provocative blog, which had amassed a following of nearly one million readers (including Snowden), from Salon to the Guardian. The British newspaper also had a powerful anti-surveillance position, having first published the Wikileaks documents that had been illicitly leaked by Private Bradley Manning and published by Assange in 2010.

    Greenwald was an activist as well as a journalist.  Like Poitras, he joined the board of directors of the Freedom of the Press Foundation.  The foundation, which eventually Runa Sandvik and Micah Lee would join, had been set up expressly to funnel money to both Assange’s Wikileaks site and the defense fund for Bradley Manning after he was arrested.  Such a money laundry was necessary because, as will be recalled, American credit card companies were blocking money transfers to these two causes.  This “blockade” was taking its toll on Wikileaks.   According to Assange, “WikiLeaks had been cut off from more than 90 percent of its finances.” So the Freedom of the Press Foundation came to its rescue. John Perry Barlow, one of the song writers for the Grateful Dead band, was one of its chief financial backers. “The first serious info war is now engaged, Barlow declared. “The field of battle is WikiLeaks.” He served with Greenwald and Poitras on its Board in December 2012.  

Snowden was an avid reader of Greenwald’s screeds against the government. If he was to assume the role of a modern-day Prometheus, delivering forbidden secrets of the NSA to the public, Greenwald would be a logical candidate to break the story. Snowden could safely assume that Greenwald would be sympathetic to exposing NSA surveillance from his many blogs, tweets and YouTube comments on the subject.  For example, on November 13 2012, just 18 days before Snowden contacted him, Greenwald had written a blog in Guardian asserting that the United States was “a surveillance state run amok.” In it, echoing very closely what Snowden said at his Crypto party, Greenwald wrote that “any remnants of internet anonymity have been all but obliterated by the union between the state and technology companies.”  Citing a story in the Washington Post, he continued: “Every day, collection systems at the National Security Agency intercept and store 1.7 billion e-mails, phone calls and other types of communications.""      As a result, Greenwald called for action in his  blog on November 13, 2012, writing:  “The US operates a sprawling, unaccountable Surveillance State that, in violent breach of the core guarantees of the Fourth Amendment, monitors and records virtually everything even the most law-abiding citizens do.” That same week Snowden invited Runa Sandvik to co-host his crypto party.

One problem for Snowden was reaching out to Greenwald was Greenwald's lack of any encryption for his e-mails. Communicating with a journalist like Greenwald who famously attacked the very organization for which he worked was itself a risky undertaking, especially if he wanted to pass classified NSA documents to him.  If his emails were intercepted by the NSA in Brazil (where Greenwald lived) and where the NSA was not restricted by US law, he could lose his job or even be arrested.  Under his alias Cincinnatus, he told Greenwald that he needed to immediately encrypt his computer.  To make his point, he cited Greenwald’s own November 12, 2012 blog. In it, Greenwald noted that General David Petraeus, then the CIA director, had been caught in a minor sex scandal because his personal emails had been intercepted, Snowden wrote Greenwald that Petraeus would not have been exposed if he had used encryption.  Snowden also sent Greenwald instruction on how to install the necessary encryption software and a link to a 12-minute video on encryption (which might have been the same video he used at his Crypto party a few weeks earlier.)  

    Greenwald did not manage to encrypt his computer, however. Snowden, unwilling to deal with Greenwald through an unencrypted channel, broke off contact with him in January 2013.  Even so, he did not give up his plan of using Greenwald in his enterprise.  He sought an intermediary who used encryption.

The alternative route to Greenwald that Snowden chose was Laura Poitras.   He knew she had am association with him.  They both were founding board members of the Freedom of the Press Foundation. Greenwald had also written about her extensively.  For example, he wrote an entire blog about her confrontation with the US government and her plans to make a documentary about the “U.S. Government’s increasing powers of domestic surveillance [through] its expanding covert domestic NSA activities”

    Since 2011, Poitras had been filming the construction of a massive NSA repository for data in Bluffdale, Utah.  In the anti-surveillance culture, the structure had become symbolic of the powers of the NSA. In fact, was the same NSA site that Parker Higgins photographed from a blimp in the fall of 2013 and post on the Internet.    Just six months earlier in August 2012, Poitras had released her documentary about the NSA’s use of the Bluffdale repository for domestic spying, 

 Aside from her connections with Greenwald, Poitras had other impressive credentials.   Born in 1964 in Boston, She came from a wealthy family that donated large sums of money to philanthropic causes, including $20 million for research on bipolar disorders. After graduating from the New School for Public Engagement in 1996, she pursued a career as an activist film-maker. Her focus quickly became exposing NSA’s surveillance.  One of her short documentaries about the NSA’s domestic surveillance program was featured on the New York Times website and attracted enormous attention in 2012.  As a dedicated opponent of the surveillance state, she participated in public events with William Binney, the now famous ex-NSA whistle-blower, and Jacob Appelbaum.   In April 2012, for example, she made a presentation at the Whitney Museum in New York with Binney and Appelbaum.  She became such a leading activist against the NSA by December 2012 that Appelbaum, after lauding her work, interspersed clips from her short film in his keynote address at the Computer Chaos Club convention of hacktavists in Berlin in December 2012.  Snowden also closely followed her rise in this world. By simply googling Poitras’ name in January 2013, he would have learned about her connections with Greenwald, Appelbaum, Binney, Assange and other leading figures in the anti-surveillance camp. When asked later Snowden why he had chosen her to help him, He replied “I didn’t. You chose yourself.”  The problem for Snowden was anonymously drawing her in to his enterprise. 

Poitras was living in Berlin in January 2013, which made her vulnerable to NSA surveillance. To get to her through an encrypted channel, Snowden chose a circuitous approach. On January 11, 2013, he wrote to Micah Lee in Berkeley, California.  Unlike Greenwald and Poitras, Lee resided in America.  This U.S. residence meant, as Snowden knew, the NSA would be legally barred from monitoring his communications.  He used Lee, who was the chief technology officer at the Freedom of the Press Foundation, as the encrypted gateway to Poitras who, it will be recalled was a founding Board member of that small foundation. Lee also was well-connected to others with whom Snowden had contacted for his crypto party. Lee had been an associate of Runa Sandvik’s at TOR and was a prominent member of Noisebridge, an eclectic anti-government hackers’ commune based in Northern California, of which Appelbaum was also a member.     

To contact Lee, Snowden chose the alias Anon108.  Anon was an alias frequently used by members of the Anonymous commune of hacktavists.   “I’m a friend.” Snowden wrote Lee. “I need to get information securely to Laura Poitras and her alone, but I can’t find an email/gpg key for her.”  The “gpg” encryption key he asked for, more commonly called a PGP key, was the so-called public key for an encryption system called Pretty Good Privacy, or, for short, PGP.  This encryption system required both a public and private key.  Snowden asked Lee to provide the former one, since Poitras had the latter one.  Lee wrote Poitras about “anon108.” The next day, with the approval of Poitras, Lee supplied Poitras’ public key to Snowden, or, as he knew him, Anon108. 

  With it, Snowden now contacted Poitras directly.  He asked her as a first step to open an anonymous email account using TOR software.  He was now in contact with three members of the Freedom of the Press Foundation—Greenwald, Lee, and Poitras. (Sandvik would join the foundation in 2013.) 

Poitras later wrote about this initial contact:   “I was at that point filming with several people who were all being targeted by the [US] government.” The people she was filming included Appelbaum, Assange, and two former NSA employees, William Binney and Thomas Drake. It was in the midst of this project when she received the email from Anon108 aka Edward Snowden.  

 He next asked Poitras her take out a new enciphering key to use exclusively for her liaison with him.  It provided them both with an extra layer of protection from any surveillance by law enforcement.   Presumably, she accommodated his requests because she anticipated that the anonymous person would use this encrypted channel to send her highly-sensitive material. 

   On January 23, 2013 Snowden wrote Poitras under yet another alias.  This time he called himself “Citizen Four.” He wrote: “At this stage I can offer nothing more than my word.” He then said falsely, “I am a senior government employee in the intelligence community.”   She had no way of knowing at this “stage” that, despite giving her his “word,” he was not who he claimed to be.  He was not a  “government employee, “ he was not a “senior” official and he was a member of the “intelligence  community” (which is composed of the intelligence services of the U.S. government .)  He would later also claim to her that he had been “a senior adviser to the CIA” and “a senior adviser to the DIA.”   In fact, he had never held such position at either intelligence service. In January 2013, he was merely a contract employee of Dell working as a computer technician at the NSA base in Hawaii.

Snowden told her in his initial email that he was well-acquainted with her career as an anti-surveillance activist.  He said that he had read Greenwald’s account in Salon that past April, a blog in which Greenwald detailed the 40 times in which Poitras was searched by US authorities. The story also said that Poitras believed that she was on a special watch-list and under constant US government surveillance.  She had come under such scrutiny by US authorities, it turned out, because of her documentary about American military abuses of civilians in Iraq in 2005 entitled “The Oath”.  While filming it she was at a place close to an insurgent ambush of US troops in Iraq.  Her presence at the ambush site led Army intelligence officers to suspect (without any evidence) that she might have been tipped off by the insurgents. She firmly denied the charge and the government never substantiated it.  Even so, because of this incident, she was kept on a list that caused authorities to search her at airports.  As a result, she took elaborate counter-measures to evade any possible surveillance of her communications.   

Snowden knew about this incident because Greenwald described them in a great detail in a blog that Snowden read (as he later told Greenwald.) “Poitras is now forced to take extreme steps — ones that hamper her ability to do her work, “Greenwald wrote:    “She now avoids traveling with any electronic devices. She uses alternative methods to deliver the most sensitive parts of her work — raw film and interview notes — to secure locations. She spends substantial time and resources protecting her computers with encryption and password defenses. Especially when she is in the U.S., she avoids talking on the phone about her work, particularly to sources. And she simply will not edit her films at her home out of fear — obviously well-grounded — that government agents will attempt to search and seize the raw footage.”  She claimed, as she told journalists, she was the victim of “Kafkaesque government harassment.”

 Snowden was duly impressed with her concerns about government surveillance.  She fully subscribed to his view that that government surveillance was ubiquitous.  Indeed, he later described her as “more paranoid when it comes to electronic security than I can be.”  He meant it as a compliment.     Such functional paranoia or, “operational security,” as Greenwald would call the precautions that she took, dove-tailed with Snowden’s growing conviction that universal encryption was necessary to defeat the surveillance state. It also made her the perfect channel for Snowden to safely pass some of the classified documents he stole to Greenwald and other journalists.        

It was not difficult to get her to cooperate in his plot.  He played on her well-known concern about government surveillance.  He wrote, for example, “The surveillance you’ve experienced means you have been ‘selected’—a term which will mean more to you as you learn how the modern SIGINT system works.” Just as she had been “chosen” by her work to act as his conduit, according to Snowden, she had been chosen by the NSA as a target because of her work.   The idea of her being “selected” by an invisible signal intelligence agency, the NSA, could only excite her long-time concerns about being watched by the government. “Your victimization by the NSA system means that you are well aware of the threat that [the NSA’s] unrestricted, secret abilities pose for democracies,” he continued.  “I hope you understand that contacting you is extremely high risk and if you are willing to agree to the following precautions before I share more, this will not be a waste of your time.”  Further heightening her concern that she was under surveillance, he asked her to confirm to him “that no one has ever had a copy of your private key and that it uses a strong passphrase.”  Such precautions were necessary because “your adversary is capable of one trillion guesses per second.”  That “adversary” was, as she knew from her previous film, the NSA.  At this point, she knew she was entering into a dangerous liaison with an unknown party in pursuit of NSA secrets. 

  To elude this “adversary,” Snowden stressed to her that she would have to adopt a conspiratorial set of mind. “If the device you store the private key and enter your passphrase on has been hacked, it is trivial to decrypt our communications,” he explained. “If you publish the source material, I will likely be immediately implicated.”  If her correspondent could be “immediately implicated,” it meant that he was a person authorized to handle these secrets.  So Poitras knew, as early as January 2013 that she was creating an encrypted channel for someone with access to NSA secrets and who would be incriminated by providing them to her.    

   The key source for Poitras’ previously-referred to short video was William Binney.  Like her new source, he had been authorized to handle NSA secrets.  Binney had been a NSA technical director until he had retired in 2001. The NSA’s domestic surveillance program that Binney told the press about years before being interviewed in Poitras’ film was called “Stellar Wind.” It indeed led to a major expose of domestic spying by the New York Times in December 2005. After President Bush’s own Justice Department then held that such surveillance was illegal, Congress passed a revision of the Patriot Act in 2007 that effectively legalize the “Stellar Wind” surveillance program on condition that the NSA obtain a FISA warrant for it that would be periodically reviewed by the Department of Justice.

     Binney had never provided Poitras with any NSA documents to back up the charges he made about Stellar Wind.  He could not have done so without violating his sworn oath and, for that matter, US anti-espionage statutes. Binney made it clear to her and other journalists that he was not a law breaker.      But her new source, Snowden, was willing to do what Binney (and other insiders) had refused to do.  He was offering in these emails to provide her with secret government documents 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 Stellar Wind has grown” he wrote her. In fact, as Snowden knew from the draft Inspector-General report he stole in 2012 that Stellar Wind been terminated in 2011 by the NSA for budgetary reasons. He continued:     “The expanded special source operations that took over Stellar Wind’s share of the pie have spread all over the world to practically include comprehensive coverage of the United States.” As a result, he wrote.  “The amount of US communications ingested by the NSA is still increasing.” 

    He further offered to substantiate her worst fears about the growth of NSA surveillance’ “I know the location of most domestic interception points, and that the largest telecommunication companies in the US are betraying the trust of their customers, which I can prove.”  He even proffered, evidence implicating President Barak Obama in illegal surveillance. “There is a detailed policy framework, a kind of martial law for cyber operations, created by the White House. It’s called presidential policy 20,” he wrote her.  It was an 18-page directive that Obama had signed four months earlier in October 2012. Snowden was offering to reveal to her the up-to-date evidence of a surveillance state in America presided over by the President himself.  It was what she had been searching for three years.  How could she, as an activist film-maker, resist such a sensational offer?  

He further explained to her that he had placed great trust in his discretion.  “No one, not even my most trusted confidante, is aware of my intentions, and it would not be fair for them to fall under suspicion for my actions,” he said.  

 Poitras must have found it flattering that a total stranger was willing to disclose to her in emails what he would not tell even his “most trusted confidante” about his intentions to commit an illicit breach of U.S. national security.  It was an extraordinary risk he was taking. After all, “Citizen 4” had no way of knowing who she else she told about him.  She had long been concerned, with good reason that the U.S. government was out to get her.  An unknown person offering to supply her with secret documents could be attempting to entrap her.  So he could not preclude she would not consult with others about the offer he was making her.  Since her current documentary project included interviews with Assange, Appelbaum and three ex-NSA executives, intelligence services with sophisticated surveillance capabilities might also have taken a professional interest in her communications, as Poitras herself had suspected.  Even if Snowden was somehow able to use his position as a system administrator at Dell to ascertain that the NSA did not have Poitras under surveillance, he could not be sure that other agencies, such as the Russian and Chinese intelligence services, were not be monitoring his communications with Poitras.  It was, however, a chance Snowden evidently 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 film.  Indeed, he said it was essential in his plan to prevent others, including presumably 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 imagery of crucifixion suggested that, like Jesus Christ, he was willing to sacrifice himself for the sake of others.

In keeping with their operational security regime, he 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 helps him recruit Greenwald and other outlets for his disclosures. “The material provided and the investigative effort required will be too much for any one person,” he wrote Poitras. He next directed her to contact Greenwald.   “I 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.   The Guardian had become an important player in the business of disclosing government by publishing a large part of the US documents supplied to Wikileaks. By breaking whistle-blowing stories about US 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 down the opportunity for a whistle-blowing scoop for the Guardian.  After all, the classified documents Snowden would provide him would also give credence to both Greenwald’s book and his many blogs denouncing of US government surveillance.

Aside from Greenwald and Poitras, Snowden sought an outlet inside the American establishment.  So he had Poitras write Barton Gellman, the Pulitzer Prize winning reporter for the Washington Post.  Born in 1960, Gellman graduated from Princeton in 1981, and became an award-winning investigative reporter from the Miami Herald, Washington Post and Time magazine. He was also the author of the 2008 book Angler: the Cheney Vice-Presidency, which been made into an HBO mini-series.    If Gellman could be drawn into the enterprise, he could provide Snowden with a gateway to the Washington Post, the prestigious American paper credited with bringing down President Richard Nixon in the Watergate scandal. 

     Poitras, as the go-between for Snowden, immediately contacted Gellman.  She already knew him from meetings they both attended at NYU’s Center on Law and Security.  After telling him she was involved in a story about NSA surveillance, she suggested that they meet in New York City.    

    For their rendezvous, Poitras took a number of precautions to evade anyone attempting to follow her.   She had Gellman first meet her in one coffee shop in lower Manhattan.  When he arrived, she had him follow her on foot to another coffee shop following her anti-surveillance tradecraft.  Once assured no one was watching them, she ordered coffee for herself and Gellman.   Over coffee, she told Gellman about Snowden, who she described as her anonymous source.  She said that he was willing to supply Gellman with documents that would expose domestic surveillance, if Gellman agreed to write a story on it for the Washington Post.  Even though Gellman had left the staff of the Washington Post in 2010, he had previously written several stories on that subject for the newspaper.  He was also highly-regarded by the editors there.  He was therefore interested in Poitras’ offer (although he would consult a friend at the Justice Department about the legality of publishing NSA documents.  

     Snowden now had laid the groundwork for at least two possible outlets; one an establishment newspaper in Washington DC, the Washington Post; and a well-respected international newspaper, the Guardian.  

 Poitras, however, was having some difficulty in bringing Greenwald in on the plan.  Like Snowden, she did not trust writing him in unencrypted emails and, since Greenwald lived in Brazil, she still had not found an opportunity for a face-to-face meeting with him. 

That opportunity arose in mid-April 2013. Greenwald had flown to New York to give the lead speech at an event in Yonkers, N.Y. sponsored by the Council on American-Islamic Relations, or CAIR, a pro-Moslem civil rights and anti-Zionist organization.   He had delivered the keynote speech at its previous meeting in San Jose, California on November 22, 2012, where his impassioned depiction of the American “Surveillance State” in America received a rousing ovation from the attendees. He was invited to speak at this award dinner for its east coast chapter.

Poitras flew from Berlin to New York to see him. On April 19, 2013, she arranged to meet Greenwald at noon in the restaurant of the Marriott hotel where Greenwald was staying.  When Greenwald arrived at the restaurant carrying a cell phone, she explained to him that the NSA could surreptitiously turn his cell phone into a microphone and use it to eavesdrop on their conversation.  She told him to go back to his room to get rid of the phone. When he returned, phoneless, she took further precautions by having them change tables several times.  Greenwald accepted these tactics because, as Greenwald later said, she was in charge of their “operational security.” 

After they finally found a secure table in the nearly empty restaurant, she showed Greenwald emails she had received from Snowden under the alias Citizen 4.   Greenwald, as he recounted, made “no connection to the “long-forgotten emails” he had received from Snowden under the alias Cincinnatus.  Reading the emails to Poitras, he was impressed with the “sincerity” of the anonymous correspondent. 

When Poitras showed Greenwald Citizen 4’s mission statement in which he said his motive was to end the US “surveillance state.” Greenwald was further impressed with the source.  After all, the surveillance state Snowden described closely dovetailed with the surveillance state that Greenwald had described himself in his speech at the Council on American-Islamic Relations dinner in 2012.  Of course, the close proximity of the phrasing may not have been entirely coincidental.  Greenwald’s 2012 speech had been put on YouTube and widely circulated on the Internet just a few days before Snowden first wrote Greenwald on December 1, 2012.  Snowden the emails identified himself as a privacy advocate, which was also how Greenwald often identified himself in his speeches. He also echoed other concerns Greenwald had publicly expressed including defending American privacy from government intrusions. 

  Snowden promised the leaks he would supply would provide dramatic results.  He asserted in his email that the “shock” of the documents he would give Greenwald would result in the public’s learning about the secret “mechanisms through which our privacy is violated.” According to Snowden’s assessment, following that initial uproar, they could achieve another objective in their common cause.   “We can guarantee for all people equal protection against unreasonable search,” he wrote.  In light of this convergence of views, it is not surprising that Greenwald was fully convinced of Citizen 4’s bona fides.  He said to Poitras, “He’s real,” and he agreed to help break the story in the Guardian. 

 After he said he was onboard the project, Poitras revealed to Greenwald that Citizen 4 would deliver an entire trove of secret documents to them in six to eight weeks.  According to this timetable, the Greenwald’s scoop, and the “shock” Citizen 4 promised, would come in early to mid June 2013.

    At this point in late April, Snowden was in full control.  Although his day job at Dell involved endlessly monitoring largely-meaningless encrypted numbers in the NSA tunnel, he had been able to get three major journalists to react favorably to his proposal. None of them knew his name, position, age, location or where he precisely where he worked. Nor did they know the means by which he planned to obtain the secrets that he dangled before them. They also did not know where, or even if, they would meet their source. Their total knowledge about him was the description he gave of himself: a “senior government employee in the intelligence community” (which, as they only later would find out, was untrue.)  For his part, Greenwald speculated that he was a disgruntled CIA station chief.  Yet by his anonymous emails, and by tugging at their strings, he had lined up three journalists to break his story.   

Despite the fact they were operating largely in the dark, these three journalists acted like almost any other ambitious reporter would act if they were offered a major scoop about illegal acts of the government. In addition, the information was in line with what they had previously investigated or written about.  None of these journalists had any reason to doubt at this point that their anonymous source was anything but the sincere whistle-blower that he claimed to be.  They could not have known from his anonymous emails that, aside from the whistle-blowing documents he promised them, he was in the process of stealing a large number of documents from the NSA’s National Threat Operations Center that concerned the NSA’s sources and methods in foreign countries. These documents, to which Snowden never referred in his correspondence with them, had little, if anything at all, to do with domestic spying on American citizens.   









CHAPTER TEN
Raider of the Inner Sanctum

“They think there’s a smoking gun in there that would be the death of them all politically.”

     —Edward Snowden in Moscow



    The nightmare of the NSA is a penetration.  As the CIA, FBI and NSA found out in the 1990s, No intelligence service is invulnerable to it.  Any employee of a large intelligence organization can turn, or be turned, against it.   Among the more than 10,000 intelligence workers employed by the NSA, it is a near certainty that over time one or more of them will become dissatisfied with their work.  He or she may have a personal grievance about their pay, lack of promotion or their treatment by their superiors.  Disenchantment with the NSA may also proceed from idealistic objections. After all, the NSA is in the business of secretly intercepting messages, and an insider could find its spying activities at odds with his or her own beliefs about the violation of privacy.  For any of these reasons, a disgruntled insider could go rogue. He or she then might attempt to right a perceived wrong by disclosing the NSA secrets to another party. That party might then induce or blackmail the rogue employee into disclosing further secrets.  To guard against it, the NSA has developed a well-organized system for stratifying its data so that obtaining critical secrets would require a rogue employee to burrow into its heavily protected inner sanctum.  As part of this system, the NSA divides its data into different tiers depending on the importance of the secrets to its operations.  The first tier, Level 1, is mainly administrative material. This data would include FISA court orders and other directives it employees might need to check on to carry out their tasks.   Level 2 contains data from which the secret sources have been removed.  This tier, available to other intelligence services and policy-makers, includes reports and analysis that can be shared.  The third tier, Levels 3, contains documents that cannot be shared outside of a small group of authorized individuals because they disclose the secret sources through which the NSA surreptitiously obtained the information.   This third tier includes, for example, compiled list of the sources in China, Russia, Iran and other adversary countries. It also disclosed the exotic methods the NSA uses to get some of this data. Level 3 documents also include reports on specific NSA, CIA and Pentagon operations unknown to adversaries. These Level 3 documents are described by NSA executives as “the Keys to the Kingdom” because they could invalidate America’s entire intelligence enterprise if they fell into the hands of an adversary.  And, as far as is known, prior to 2013, there had been no successful theft of any Level 3 documents.
  Because of their extreme sensitivity, Level 3 documents were not handled by most of the private firms providing independent contractors.  At Dell, Snowden had access mainly to Level 1 and Level 2 data (which he could, and did, download from shared sites on the NSA Net.)   These lower level documents had whistle-blowing potential since they concerned NSA operations in the US.  They did not reveal, however, sources that the NSA used in intercepting the military and civilian activities of foreign adversaries.  Consequently, at Dell, while Snowden could find documents of great interest to journalists, he did not have the opportunity to steal far more valuable data, such as the Level 3 lists of the NSA’s sources abroad.

Snowden quit his job at Dell as a system administrator on March 15, 2013 to take another job working the NSA in Hawaii at Booz Allen Hamilton.    Unlike other outside contractors that serviced the NSA, the firm he choose, Booz Allen specialized in handling the NSA’s Level 3 data. 

When Snowden applied to Booz Allen earlier in March 2013, the company had no opening for a system administrator at the National Threat Operations Center, an NSA unit in which it dealt with Level 3 data. It did have an opening for an infrastructure analyst, a lower-paying job involving maintaining the computer technology necessary to monitor threats.  Despite the cut in pay, Snowden took that job.  Snowden made no secret of one of his reason for this move.  He subsequently told the South China Morning Post, as will be recalled, that he took it to “get access to lists of machines all over the world the NSA had hacked.”    If so, he was after the keys to the NSA’s kingdom of global surveillance. And Booz Allen held those keys.   ""He targeted my company because we enjoy more access than other companies,"" Booz Allen Vice Chairman Michael McConnell said with the benefit of hindsight.  As a result of the theft, he appraised “an entire generation of intelligence was lost.”  McConnell, a former NSA director before taking the   job at Booz Allen, was in a position to know.

Snowden’s sudden career change had both advantages and disadvantages for the enterprise he was planning. The main advantage was that the job, he would have proximity to the computers in which the “lists” he sought of NSA global sources were kept.  The main disadvantage, aside from a cut in salary, was that he would no longer be a system administrator.  This change meant he would not have a system administrator’s privileges to bypass password restrictions or temporarily transfer data.   Instead, as an infrastructure analyst, he would not have password access, at least during the two-month long training period, to the computers that he had not been specifically “read into,” which did not include those computers that stored the Level 3 lists.  Access to these tightly-controlled compartments was limited to only a handful of analysts at the center who had a need-to-know.

    Nevertheless Snowden applied for the job.    Since it handled higher level secret documents, Booz Allen had stricter requirements for applicants than Dell.  To slip by them, Snowden engaged in a minor subterfuge. He wrote on his application that he was expecting a master’s degree from the online division of Liverpool University in England.  In fact, he had not completed a single course at Liverpool, and would not be receiving any sort of a degree from it. Booz Allen, not fully taking into account the discrepancy in his application, agreed to hire him as a trainee-analyst (and it did not change that decision even after it found out about his subterfuge.).  According to Admiral McConnell, Snowden never actually worked in the Booz Allen offices, which are housed in a skyscraper in downtown Honolulu.  Instead, he was immediately assigned to work at the NSA’s highly-sensitive National Operations Threat Center in the tunnel at the Kunia base. 

 Before he could begin working there, however, he needed to fly to Maryland to take a mandatory orientation course at the NSA. The course was given in an 11 story building, with a sheer wall of black glass, on the NSA’s 350 acre campus at Fort Meade in Maryland.  He arrived there from Hawaii on April 1, 2013.    Like every other Booz Allen contractors who work at the NSA’s Center, Snowden was required to sign the “Sensitive Compartmented Information Non-Disclosure Agreement.”  In this document, Snowden acknowledged that he had been granted access to sensitive compartmented information, called SCI, as part of his work and that he understood that any disclosure of that information to an unauthorized person would violate federal criminal law.  He was also told, as were all new contract employees a Booz Allen that its disclosure could damage the interest of the United States and benefit its enemies.  In signing it, he swore an oath not to divulge any of this information without first receiving written approval from US authorities.   So less than two months before he downloaded Sensitive Compartmented Information, he was fully aware of what would be the consequences of divulging this information.  By this time, as discussed in the previous chapter, he had agreed to deliver classified data to three journalists.

     On April 5, 2013, while still in the training facility in Maryland, he apparently sought to establish a paper trail for himself. He wrote a letter to NSA’s General Counsel Office asking whether or not NSA directives take precedence over acts of Congress. A lawyer from the Office of General Counsel responded three days later, addressing Snowden as “Dear Ed.” The lawyer said, agreeing with Snowden, that acts of Congress take precedence over NSA directives.  He also suggested that “Ed” phone him if he needed any further clarification.  Presumably, Snowden had written the letter to elicit a response that he could later use to bolster his claim to be a whistle-blower.  Instead, the “Dear Ed” response was of little use to Snowden, as it did not dispute his point that NSA directives must lawfully conform to the acts of Congress.  The NSA lawyer did not ever hear back from “Ed.” 


   Snowden completed his orientation course at Fort Meade on Friday April 12, 2013. While he was in Maryland Snowden, he took time off to pay visits to both of his divorced parents. It would be the last time he would see either of them in the United States.


  He returned on April 13th to Hawaii, One domestic task he to attend to was helping Mills pack up their possessions, which they stored in boxes in the garage.  The lease on their house was up on April 30, 2013, so he found a temporary rental for them just a few blocks away. 

     On Monday April 15th, Snowden began on-the-job training as an analyst at the National Threat Operations Center—a training that he would not complete.  The same week he began the training, he prepared his exit by writing Booz Allen that he needed a brief medical leave in May to undergo medical treatment for his putative epilepsy symptoms.  Even though he had no planned any treatments, and, as far as is known did not suffer from epilepsy, Booz Allen required a minimum of one month’s notice for foreign travel.  By making the request, he lessened the likelihood that it would arouse undue suspicion when he departed Hong Kong with stolen documents on May 18, 2013.  This brief window left him some four weeks to take the lists that he coveted.

  Snowden carried out the heist with precision reminiscent of a “Mission Impossible” movie caper.   First, he needed to get passwords to up to 24 compartments at the National Threat Operation Center that he had not been “read into.”  Even in the “open culture” of the NSA this was not an easy challenge since he no longer had a plausible pretext for asking other experienced threat analysts had their passwords, as he did when he was a system administrator at Dell.  He would now be asking them to break strict NSA rules that prohibited intelligence workers from disclosing their passwords to an unauthorized party.  In addition, they were supposed to report anyone who asked to use their passwords. 

He may have obtained some passwords through deception, such as tricking them into typing in their passwords in a device that captured them. As the NSA informed Congress in 2014, three of his fellow workers told the FBI that Snowden may have deceived them to gain access their passwords. He may have also have used electronic means to have stolen the remaining passwords. In any case, however he accomplished this incredible feat, he gained access to 24 compartments containing the NSA’s most closely guarded secrets in a matter of a few weeks. 

    Next, he had to find the lists he was seeking in a vast sea of data.  He used for this task pre-programmed robotic devices, called “spiders” to crawl through the data and find the files he was after.  Snowden deployed these spiders soon after he began working at the Center, raising the possibility that Snowden had prepared in advance the operation. According to the subsequent NSA damage assessment, Snowden’s spiders indexed well over one million documents. Many of those that he copied and moved were from Level 3 “Sensitive Compartmented Information” according to the NSA analysis.    The spiders also made his penetration relatively safe. As previously mentioned, the Hawaii base did not have a real time auditing system. So alarm bells would go off in the security office when he indexed documents.

    Finally, Snowden had to find a way to transfer this data to a computer with an opened USB port. Most of the computers at the center had had their ports sealed shut to prevent unauthorized downloads. Making the transfer even more difficult, he was working as an analyst-in-training in an open-plan office with security CCTV camera. 

    To be sure, there were also service computers with open ports used by the system administrators.  They, after all, had to perform maintenance and back-up work.  Even though Snowden was no longer a system administrator, he might still have been able to steal or borrow a service computer.    Yet, despite all the NSA’s and Booz Allen’s security measures, he managed to download hundreds of thousands of level 3 documents to an unsealed computer.     

He also took some less-sensitive documents from the administrative file (which contained mainly Level 1 documents) at the end of April. These late acquisitions included the now famous warrant from the FISA court issued on April 25 2013.  

He completed the operation on Friday May 17, 2013, the last day he would ever enter the NSA facility.  He transferred the data he had amassed on the service computer, including the lists of the computers in Russia and China that the NSA had succeeded in penetrating, onto thumb drives.  Finally, he coolly walked past the security guards at the exit, who only seldom performed random checks on NSA employees.

    He had carried out the entire operation with such brilliant stealth he left few, if any clues behind to how obtained 24 of his colleagues’ passwords, moved  the data from many different supposedly-sealed computers  to an opened service machine or how he downloaded these documents to multiple thumb drives without arousing suspicion.  In fact, the theft would not be discovered by the NSA for fifteen days.

His escape was also well-prepared.  Lindsay Mills had departed that morning for a planned two week visit to the outer islands.  This trip allowed him to pack his belongings without saying anything to her that might be difficult to explain to the authorities. He simply left a note she would see on her return, and could show to authorities saying that he was away on a “business trip.” He also called to say good-bye to his mother and sister, who had been planning to visit him in Hawaii that month.           






CHAPTER ELEVEN
The 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.”  

          --Snowden in Moscow



    The next evening Snowden drove to Honolulu International Airport.  He left his leased car in the parking lot.  He took with him only carry-on baggage, including a back-pack and a laptop with a TOR sticker on it. “I took everything I had on my back,” he said.  Before leaving he also packed in his luggage the cash that would pay for his fugitive life.  Along with the cash, he took the thumb drives containing the NSA’s keys to the kingdom.  
   At this point, Snowden was still a free man.  He was not wanted by the authorities.  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 also had a valid passport, a credit card, and ID.  He had he yet made arrangements to meet the journalists. Snowden’s destination was Hong Kong.     After crossing the International Date Line, Snowden waited three hours in the transit zone of Narita.  Here he was reportedly captured by the airports CCTV cameras sitting alone. He then boarded a plane to Hong Kong.   After the four-hour long flight from Narita, he arrived in Hong Kong early in the morning on May 20th.

He had visited Hong Kong at least once before with Lindsay Mills when he was stationed in Japan.  He had also made some arrangements.  According to Albert Ho, his Hong Kong Lawyer, Snowden stayed at a residence arranged for him in advance by a party whom Snowden knew prior to his arrival. This “carer,” Ho said, had assisted Snowden with his logistics.   For the next ten days, Snowden did not use his credit card or leave any paper trail to his location. Wherever he was, “his first priority,” as he told Greenwald, was to find a place safe from US countermeasures.  He brought with him a large number of electronic copies of NSA documents marked “TS/SCI/ NOFORN, which stood for Top Secret, Sensitive Compartmentalized Information and No Foreign Distribution.  According to government rules, data carrying these labels could not be removed from a government-approved “SCI facility.”  Yet Snowden, who brought them with him into this semi-autonomous zone in China, intended to break these rules.

   At this venue, Snowden apparently believed he was relatively safe. “That whole period was very carefully planned and orchestrated,” Snowden later told the Guardian in Moscow. Here, for the first time, Snowden communicated directly with first Gellman and then Greenwald.

   He emailed Gellman under the alias “Verax



.”   Already, via Poitras, he had provided this Washington Post journalist with power point slides from a NSA presentation about a joint FBI-NSA-CIA operation codenamed PRISM.  He believed it qualified as whistle-blowing because it revealed that the NSA, in intercepting emails, tweets, postings and other Web interactions about foreign terrorists, incidentally also picked up data about Americans.  According to the rules imposed on the NSA  by a 2007 presidential directive, whatever information accidently picked up about Americans was supposed to be filtered out, and hundreds of compliance officers rechecked the data ever 90 says to assure that directive was being carried.  Even so, it was likely some data was not expunged in this process. So PRISM could cause embarrassment for the NSA.
   Snowden proposed that Gellman join him in Hong Kong.   In attempting to persuade him of the urgency of the trip, he wrote him that he had reason to believe that “omniscient State powers” imperiled “our freedom and way of life.”  He noted, with a touch of modesty, “Perhaps I am naïve.” He added dramatically “I have risked my life and family.”  Even so, Gellman declined coming to Hong Kong.  (According to Greenwald, Gellman could not make the trip because lawyers for the Washington Post were uneasy with having a reporter receive classified documents in a part of China.)

     Next, on May 24, 2013, Snowden attempted to apply more pressure on Gellman by telling him that the story about the PRISM program had to be published by the Post within 72 hours.  Gellman could not accede to such a condition because the decision of when to publish a story was made not by him but by the editors of the newspaper. He told Snowden that the earliest the story could be published was June 6, 2013, which was well past Snowden’s deadline.

        Snowden next turned to Greenwald. Both Poitras and Micah Lee had made great efforts to tutor Greenwald on encryption protocols, with Lee, who was in Berkeley, California, sending Greenwald by Fedex a DVD that would allow him to receive both encrypted messages and phone calls. Even then, Greenwald was unable to fully install it.  As a result, Greenwald still had not met Snowden’s requisites on encrypting his computer. 

In addition, possibly because of a lost message, Snowden believed that Greenwald was reluctant to fly to the place that he designated for a meeting.   With Gellman uncertain, Greenwald was now essential to his plan. If he was to have any newspaper outlet, he needed to persuade Greenwald to come to Hong Kong.   At this point, he took matters in to his own hands.    On May 25, 2013, Snowden somewhat aggressively emailed Greenwald “You recently had to decline short-term travel to meet with me.”  He added pointedly “You need to be involved in this story.""  To further convince him, he suggested that they immediately speak on the phone via a website that encrypts conversations.  The subsequent conversation lasted, according to Greenwald, two hours. 

    Snowden began the encrypted call by complaining, “I don’t like how this is developing.”  He made it clear that he, not the journalist he had selected, was pulling the strings.  If Greenwald wanted the scoop, he had to follow Snowden’s instructions, which included dividing the scoops between the Guardian and the Washington Post.  According to his plan, Gellman would break the PRISM story in the Washington Post and Greenwald would break the “mass domestic spying” story in the Guardian.  In addition, he insisted that the Guardian publish his personal manifesto alongside its story.  As he envisioned it, the media event would also include a video component in which Greenwald would interview him.

Once Greenwald agreed to this micro-managing, Snowden would send him what he called a “welcome package” of documents to demonstrate his good faith.  His plan also required a face-to-face meeting. When Greenwald said he was aboard the project, Snowden told him “the first order of business is to get you to Hong Kong.”

    Snowden next sent him 20 classified NSA documents labeled “TOP SECRET.” He also included in the package his personal manifesto, which asserted that the NSA was part of an international conspiracy of intelligence agencies that were working to “inflict upon the world a system of secret, pervasive surveillance from which there is no refuge.”    

  Meanwhile, Snowden told Poitras, he was sending her a number of NSA documents including a recent FISA warrant.  It had been issued less than a month earlier.  He wanted that FISA warrant to serve as the basis of Greenwald’s scoop.  It was perfect whistle-blowing material for the Guardian because it ordered Verizon to turn over all its billing records for 90 days to the NSA.  It was as close to a smoking gun as anything he had copied at the NSA. It would also get attention since James Clapper, the Director of National Intelligence, had stated before Congress just two months earlier that the NSA did not collect phone data in America. This warrant would allow the Guardian, in the best tradition of “Gotcha” journalism, to catch Clapper in an apparent lie.

  Continuing his string-pulling, he instructed Poitras not to show the FISA warrant to Greenwald until they were safely aboard the plane. That measure would prevent Greenwald from releasing the story without coming to Hong Kong.  He also sent Poitras an entire encrypted file of NSA documents, saying it would “include my true name and details for the record, though it will be your decision as to whether or how to declare my involvement.”  He did not send her the key to decipher the file, saying “The key will follow when everything else is done.”   He further told her that he preferred that her film focus on him as the sole perpetrator of the leak so that no one else at the NSA would be suspected.     He instructed her “Your destination is Hong Kong.”  

   Poitras and Gellman were not the only journalists involved in the news event.  Poitras also asked the hacktavist Jacob Appelbaum to help her interview Snowden about the NSA’s operations.  She later said that she needed someone with technical expertise in government surveillance to test the bona fides of Citizen 4.  She believed that Appelbaum, who had participated in her anti-NSA presentations in 2012, qualified for the position.

  As it turns out, Appelbaum was already known to Snowden.  Appelbaum had communicated with Snowden under his Oahu Crypto party alias about an obscure piece of software just a few after Snowden had met with Runa Sandvik in Hawaii in 2012.  Appelbaum, after all, was Sandvik’s long-time ally in developing the use of TOR software.   However he learned about him, Snowden allowed Appelbaum to put to him detailed questions to concerning the secret operations of the NSA before he met with Poitras and Greenwald in Hong Kong. Indeed, Poitras joined him in asking Snowden via encrypted emails, such questions as:  “What are some of the big surveillance programs that are active today and how do international partners aid the NSA?” “Does the NSA partner with other nations, like Israel?” and “Do private companies help the NSA?”  Snowden answered them all to the satisfaction of Appelbaum and Poitras. (The interview was published on June16, 2013 with Snowden’s approval on the website of Der Spiegel, the German weekly, which had also published the Wikileaks documents.)   

   Even though the days were ticking away while Snowden was waiting for him in Hong Kong, Greenwald still had to overcome a final hurdle at the Guardian. He needed to get a green light to go to Hong Kong from Janine Gibson, the editor of the Guardian website, who was based in New York. Under Gibson’s leadership, the Guardian’s website effectively “gone into the business of publishing government secrets,” as Guardian columnist Michael Wolff pointed out.  Most of these secrets had been supplied by Manning via Wikileaks.   Few, if any of these previous documents the Guardian published were highly-classified and none were SCI top secret documents.  The NSA documents Greenwald had received from Citizen 4 were another matter.  They contained the sort of SCI communications intelligence data that no major newspaper had ever published before.  Their disclosure could even result in journalists being imprisoned since both U.S. and British law criminalized the disclosure by anyone of communications intelligence.  As a lawyer, Greenwald recognized this danger. On the other hand, the NSA documents were far more explosive than the Wikileaks material, and promised an even greater spike in circulation.  So Greenwald assumed that Gibson would be willing to authorize the publication of the documents—and provide the expenses for his trip to Hong Kong to meet the source.  

He flew from Rio to New York on May 30, 2013 to meet in person with Gibson, who had concerns about publishing what purported to be top secret documents that came from an anonymous source.  For one thing, she was also not willing to go along with Citizen 4’s demand that the Guardian publish his personal manifesto alongside the documents.  Aside from its shrill and alarming tone, it sounded, as she told Greenwald, “a bit Ted Kaczynski-ish.” She was referring to Ted Kaczinski, the deranged mathematician who had maimed or killed 23 people with anonymous mail bombs between 1978 and 1995. Like Citizen 4/Snowden, Kaczynski had demanded that newspapers publish his personal manifesto.  She explained to Greenwald, “It is going to sound crazy to some people.”  Her concern was that it would detract from the credibility of the rest of the story.   Snowden had also written Greenwald a letter explain his position. “Even the Constitution is subverted when the appetites of power demand it,” Snowden asserted, and paraphrasing President Thomas Jefferson, he continued. “Let us speak no more of faith in man, but bind him down from mischief by the chains of cryptography.”   Snowden, showing his cult-like faith in encryption, had “cryptography” for Jefferson’s word “constitution.  Despite his Jeffersonian rhetoric, she decided against publishing it or the Manifesto.  The stolen NSA documents were another matter.  They were an enormous scoop that could have a greater impact than the Wikileaks scoop.   .She was not about to miss publishing it.

  She authorized Greenwald’s trip to Hong Kong on the condition that he take with him a Guardian staffer in whom she had confidence.  He was Scottish-born Ewen MacAskill, a 61-year old veteran journalist who had been the Washington bureau chief for the Guardian. His assignment was to evaluate the mystery source in Hong Kong for Gibson.  Greenwald accepted her terms.   Poitras, who would be accompanying them, would be paying her own way.

  Snowden, for his part, had a contingency plan in place in case the Guardian failed to publish the story. While Greenwald was negotiating with Gibson, he arranged for Micah Lee, Poitras’ associate at the Freedom of the Press Foundation, to build a personal website for him. Writing Lee from Hong Kong under both his alias Anon108 and his real name, Snowden said that he planned to post on it his “anti-surveillance manifesto.” He would also use it to post “a global petition against surveillance. (A year earlier his girlfriend Mills had also asked her followers on her “super hero” blog to sign a petition against government interference with the Internet.)  Snowden had Lee name the site “Supportonlinerights.com.”  According to Lee, the website would be build with a “dead man’s switch,” which would automatically trigger the release of NSA documents if he was arrested.   It was not clear whether Lee was doing this work as a freelancer or in his capacity as the chief technology officer for the Freedom of the Press Foundation. After Lee built the website for Snowden It proved unnecessary to activate it since Poitras emailed Snowden that the Guardian had approved the trip, and she and Greenwald were booked on a Cathay Pacific flight to Hong Kong.  They would arrive on June 2, 2013,

    In his preparation to go public in Hong Kong, Snowden showed himself fully capable of orchestrating what would become a major news story. He not only picked the journalists who would break it, but he instructed each of them as to the timing, sequence, and content of their initial disclosures.  In the security of his residence in Hong Kong, he also worked to carefully separate the purloined NSA documents into two very different caches.  ""I carefully evaluated every single document I disclosed,” Snowden explained to the Guardian journalists in early June 2013.   The documents in this first cache were selected to serve what he termed the “public interest.”  In the hands of journalists, these selected documents, and the story he fashioned to accompany them, would burnish his image in the public consciousness as a whistle blower. He did not turn over the second cache, telling Greenwald, “There are all sorts of documents that would have made a big impact that I didn't turn over.”  

   By the time he received the message from Poitras on June 1st, Snowden had finished his preparations for the journalists. With selected documents copied on a thumb drive, he moved from the residence where he had been staying for ten days to a venue for meeting the reporters.  The place he chose was the five-star, $330 a day, Mira hotel in the Kowloon district of Hong Kong.  He checked into room 1014 under his own name and provided the front desk with his own credit card.  He next emailed Poitras his name and the address of the Mira hotel.  There was no longer any reason to hide his true identity because the rendezvous with journalists would make him famous in a matter of days.    



CHAPTER TWELVE
Whistle-blower

“They elected me. The overseers...  The [American] system failed comprehensively, and each level of oversight, each level of responsibility that should have addressed this, abdicated their responsibility.”

                               --Edward Snowden in Moscow



    While Snowden was attempting to reel in the journalists in Hong Kong, Lindsay Mills received a jarring surprise in Hawaii.  When she returned to Honolulu from her “island-hopping” trip, she found Snowden was still away and the rented house partially flooded from a leak. The brief note Snowden left her indicated that her eight year relationship with Snowden had, at least temporarily, been put on hold by him.  “I feel alone, lost, overwhelmed, and desperate for a reprieve from the bipolar nature of my current situation,” she wrote in her journal on June 2nd (which would be June 3rd across the international time line in Hong Kong.)  “I've nearly lost my mind, family, and house over the past few weeks.” She also noted that she her SIM card containing her personal data was gone.  She wrote in her on-line journal” “Oh and I physically lost my memory card with nearly all my adventure photos.”  The loss would make it difficult to reconstruct her past activities with Snowden.   
 In Hong Kong, if Snowden was following Lindsay’s online journal, he would have read that his girl friend had returned home, lost her data and needed a “reprieve” from the situation in which he had put her.  But since they were exchanging private text messages by then, he would not have needed to consult her public journal.  Snowden was certainly aware that he would soon be the object of a manhunt that could involve those with whom he was acquainted. He instructed Poitras to mask their email communications in cyber space “so we don’t have a clue or record of your true name in your file communication chain.”  Such precautions were necessary, he explained to her because “every trick in the book is likely to be used in looking into this.”

   The journalists arrived late in the evening of June 2nd, 2013.  Snowden’s message was waiting. Snowden’s instructions were themselves an exercise in control.  Snowden had written them: “On timing, regarding meeting up in Hong Kong, the first rendezvous attempt will be at 10 A.M. local time. We will meet in the hallway outside of the restaurant in the Mira Hotel. I will be working on a Rubik’s cube so that you can identify me. Approach me and ask if I know the hours of the restaurant. I’ll respond by stating that I’m not sure and suggest you try the lounge instead. I’ll offer to show you where it is, and at that point we’re good. You simply need to follow naturally.”  Even though such tradecraft was unnecessary since Snowden was registered at the hotel under his true name, he had provided the journalists with the atmospherics of “an international spy thriller,” as Greenwald subsequently described the instructions.



MacAskill had stayed at the W Hotel when Poitras and Greenwald Poitras went to the Mira Hotel.  Poitras did not want to bring along an uninvited guest to the first meeting with Citizen Four.  As instructed, at 10 AM on June 3rd, she and Greenwald went to the Mira restaurant.  They gave the recognition signal, twice.  After a few minutes, a young man walked over to them, holding a Rubik cube.  Greenwald noted: “The first thing I saw was the unsolved Rubik’s cube twirling in the man’s left hand.”  The man said “Hello” and introduced himself as ""Ed Snowden.""       Greenwald was particularly surprised by Snowden’s boyish looks. “The initial impression was one of extreme confusion,” Greenwald wrote in his book.  “I was expecting to meet somebody in his sixties or seventies, someone very senior in the agency, because I knew almost nothing about him prior to our arrival in Hong Kong.”   His initial confusion was understandable.  Snowden, it will be recalled, had falsely identified himself to them in an email as a senior member of the intelligence community. 
    Snowden led Greenwald and Poitras through various corridors of the hotel to his room, 1014.  It was in a single room mainly occupied by a king-sized bed.  Its other furniture included a sleek writing desk in the corner, a modernistic chair and a tall lamp.  The bathroom was behind a glass partition, which could be closed off by a black louver blind.  There was also a small refrigerator in the minibar in which Snowden asked them to stow their cell phones,  

    Snowden had already told Poitras that he wanted her to make a documentary of the meeting. She therefore wasted no time in mounting her camera on a tripod. “Minutes after meeting, I set up the camera.”  Snowden had told her, as she later recalled, “when you are involved in an action which is likely to get you indicted, you typically don’t have a camera rolling in the room.”  Nevertheless, he allowed her to film his actions for the next eight days.  One possible reason is that he had no intention of standing trial.  In any case, as Poitras found out, Snowden was anything but camera shy.  Over the next week, she would shoot over 20 hours of Snowden’s activities in that small room.  It was essentially a one man show, a presentation of him, by himself, for the appreciation of a global public. Poitras knew virtually nothing about her subject until ten minutes before she began filming him.  She had not even googled him, since she was concerned that her Internet search might alert the NSA and law enforcement authorities        

In an extraordinary waiver of his own privacy, he allowed her to film him washing in the bathroom, preening his hair in the mirror, napping on his bed, getting dressed, and packing his bag.  He even permitted her to film a private computer exchange between him and Mills (who was in Honolulu.)  Mills now informed Snowden that two government investigators had come to their home in Hawaii. Mills reported that they were asking her about Snowden’s whereabouts.  Evidently when he had failed to show up for work on June 1st, it set off alarm bells at Booz Allen and the NSA.  Snowden expressed anger to the journalists in the room at the NSA intrusion on the privacy of his girlfriend (although he had left her in the lurch by telling her in the note he was away on a brief business trip.)  

   Snowden also performed his security procedures on camera, including stuffing bed pillows under the door to block any eaves-droppers, throwing a red blanket over his head, which he called jokingly his “magical cloak of power.”  He explained to Greenwald that his 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.  Since he planned to use these journalists as his outlets to go public in a few days, the security measures he did 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 movie, CitizenFour, which would be commercially released in October 2014 and win an Academy Award for her.

          The next day, Wednesday June 4th, Ewen MacAskill, the Guardian editor, joined Poitras and Greenwald in Snowden’s room.  Snowden insisted that he also go through the ritual of stowing his cell phone in the mini-bar refrigerator.  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 apparently had not been well briefed.  The questioning went as follows:

 MacAskill:    Sorry, I don’t know anything about you.


Snowden: OK, I work for—

MacAskill: Sorry, I don’t know even your name.

Snowden: 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 truthful in describing himself.  He said that he had been a senior adviser to the CIA, when he had been just a telecommunications support officer in the CIA. He also said he had been a senior adviser at the Defense Intelligence Agency (DIA) even though, according to that intelligence service, he was not actually ever employed there. (He merely spoke at an interagency counterintelligence course the DIA had sponsored.)  He said he had a $200,000 a year salary from Booz Allen when, according to Booz Allen, it was $133,000.  It is understandable that he wanted to impress these Guardian journalists in light of his young age and boyish appearance, even to the extent of meretriciously claiming in the video that he personally had been given the “authority” at the NSA to intercept President Obama’s private communications, which, according to a NSA spokeswoman, was not true. No NSA employee, and certainly not a civilian contract worker, was given the authority to soy on the President of the United States, she insisted. Such career enhancements suggest that Snowden altered factual reality when it suits his purpose with journalists.
Even though Snowden had greatly exaggerated the positions he held with the CIA and DIA, no effort was made to check them by the team of journalists. Instead, MacAskill wrote Janine Gibson in New York “The Guinness is good.”   It was a pre-arranged code by which MacAskill certified Snowden’s credibility for the Guardian.  Gibson told Greenwald to proceed with the story. 

     Greenwald wrote his first story about NSA transgression based almost entirely on the FISA warrant that Snowden had copied from the administrative file.  Before the story could be published, however, the Guardian policy required relevant American government officials be allowed to respond. Gibson made the requisite, if pro forma, call to the White House National Security spokesman, Caitlin Hayden, who arranged a conference call with FBI Deputy Director Sean Joyce, NSA Deputy Director Chris Inglis and Robert Litt, the legal officer for the Office of National Intelligence.  After duly taking into account the response of these three officials, which included the admonition by Litt “no serious news organization would publish this,” Gibson gave the green light to publish the story.  It was, after all, an incredible scoop.

    The story finally broke finally on June 5, 2013.  “NSA Collecting Phone Records of Millions of Verizon Customers,” proclaimed the Guardian headline.  Under  Greenwald’s byline, it said: “Exclusive: Top Secret Court Order Requesting Verizon To Hand Over Call Data Shows The Scale of Domestic Surveillance Under Obama.”   Along with it was the FISA warrant to Verizon. The PRISM story broke hours later in the Washington Post.   Written by Gellman and Poitras, it claimed that the NSA and FBI were tapping directly into the central servers of nine leading U.S, Internet companies which were knowingly participating on the operation.   The latter allegation turned out to be not entirely true, since all the Internet companies cited in the story denied that they had knowingly participated.   But the damage had been done. The back-to-back publication of these two stories by the Guardian and Washington Post 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 Washington Post stories on June 5th.  Snowden, however, insisted on outing himself.  He explained to Greenwald that he needed to “define himself” before the US Government “demonized” him as a spy.   That self-definition would be accomplished by the 12 minute video, entitled “Whistleblower.” For it, Poitras extracted from the 20 hours she had shot much of the material for the video.  In the filmed interview, Snowden voiced many of the same statements he had made in his manifesto. So he no longer needed to post the manifesto on the Internet.  Instead, he used the video to broadcast his views. 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 9th, 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 subsequently disputed some his more dramatic claims, such as his assertion that he had the authority at the NSA “to wiretap anyone, even the President,” the press largely accepted his claims as established facts. As for American surveillance, he declared “I don’t want to live in a society that does those sorts of things.”

    He had succeeded in defining himself for the public.  The Guardian story accompanying the video carried the headline, “EDWARD SNOWDEN: THE WHISTLE BLOWER BEHIND THE NSA SURVEILLANCE REVELATIONS.”  Snowden’s identity as a whistle-blower was now established in the media. Overnight, Snowden became a global celebrity and, to much of the world, a hero. 
     Snowden, in fact, did not sacrifice him.  He vanished from public view after the release of the video. He provided Poitras and Greenwald with thumb drives on which he had loaded the documents he wanted them to use.  The next morning he packed his belongings into a backpack and moved, without notifying the front desk, to the room Poitras had rented at the Mira.    
   Complicated schemes, especially when they involve transferring state secrets to unauthorized parties in a foreign country, do not necessarily go as planned.  On the morning of June 10th, 2013, Snowden’s escape plan apparently ran into a problem. Robert Tibbo and Jonathan Mann, the lawyers who, along with Albert Ho, had been retained for Snowden by an unidentified party, received an emergency phone call early in the morning telling them to help Snowden move to a safe location. Although Tibbo would not identify the person who had called, the message had been relayed to Mann and him through Ho’s office.   He told Tibbo over the phone,   “I can make myself unrecognizable”

Tibbo and Mann immediately proceeded to the mall adjacent to the Mira hotel, where they met Snowden.  After he signed a document appointing Ho’s law firm as his “legal adviser,” they slipped out of via the mall exit.

     As his credit card had been frozen, it is not clear who paid his $3,300 hotel bill.  According to hotel records, it was paid by another credit card.  Poitras, who taken a room at the hotel may have used her credit card or Snowden may have had another benefactor in Hong Kong. In any case, the lawyers escorted Snowden to a pre-arranged residence.

  “I am in a safe house for now,” Snowden wrote Greenwald on June 11th.  The situation may not have been totally under his control, since he added: “But I have no idea how safe it is.”     

     Greenwald flew back to Brazil that day.  Soon afterward, he would resign from the Guardian and in February 2014 become the co-founding editor of The Intercept, an online publication dedicated to adversarial journalism which was backed by Internet billionaire Pierre Omidyar.

  Poitras remained in Hong Kong, where she moved, along with Guardian reporter MacAskill, to the five-star Sheraton Hong Kong Tower, which, like the Mira hotel, was on Nathan Road in Kowloon.  Her next task was to set up what was to be Snowden’s final interview in Hong Kong.  It was scheduled for June 12th. 

   The journalist chosen was Lana Lam, a young Australian reporter working for the South China Morning Post.  Tibbo had suggested Lam to Snowden. She had served as Tibbo’s outlet on previous news stories, and, as he told me, he found her to be a totally reliable journalist. He brought her to Poitras’ suite at the Sheraton in Kowloon (about eight blocks down Nathan Road from the Mira.)  First, Lam had to agree to the conditions of the interview, which included submitting the story to Poitras for Snowden’s approval. Next, as Lam put it, Poitras “confiscated” her cell phone.  Finally, after a ten minute wait, Poitras took her to another room and sat her before a black laptop.  The laptop, which had a TOR sticker on it, had on its screen an on-line chat room where she was connected by Poitras to Snowden.

    “Hi Lana, thanks for coming for this,” Snowden said from his safe house.  He told her that the NSA had intercepted data from at least 61,000 different computers in Hong Kong, China, and elsewhere. To expose what he called America’s “hypocrisy” in accusing China of cyber-espionage, he supplied her NSA documents for the South China Morning Post.  “Last week the American government happily operated in the shadows with no respect for the consent of the governed, but no longer,” he said. ""The United States government has committed a tremendous number of crimes against Hong Kong [and] the People’s Republic of China as well.""  Under Poitras’ close supervision, Lam was allowed to ask Snowden further questions about the NSA’s interception of communications in Hong Kong and China.  He told her “I have had many opportunities to flee Hong Kong, but I would rather stay and fight the US government in the courts.”

As mentioned earlier, Greenwald, Poitras and MacAskill did not concern themselves with the issue of the mechanics of the largest theft of top secret documents in the history of the United States.  In entire filmed interview at the Mira Hotel, they did not ask their source how he managed to get access to the documents. Unlike those interviews, Lam asked him about how he widened his access.  She cut to the core of the matter by asking him a crucial question. “Why he had switched jobs from Dell SecureWorks to Booz Allen Hamilton in March 2013?  His answer provided her with a real scoop He replied that, “My position with Booz Allen Hamilton granted me access to lists of machines all over the world the NSA hacked.""   Snowden told her that he deliberately went to Booz Allen Hamilton to get access to the “lists” revealing the NSA’s sources in foreign countries.  This admission could gravely complicate his legal situation in Hong Kong since it suggested that he meant to steal documents even before he had known their content.  In fact, to protect himself, he restricted Lam from publishing this part of the interview until after he had departed Hong Kong. (It was published until June 24, 2013 a day after he arrived in Russia.)  This condition indicated to Lam that as early as June 12th, if not before that, he was planning on leaving Hong Kong (although he did not tell her his next destination.)

     His interview with Lam went only so far.  He didn’t reveal how he had learned about these “lists” before taking the job.  Nor did he reveal to her how he planned to dispose of these lists.  He made it clear to her, however, that he had not yet disposed of all his secret documents.  “If I have time to go through this information,” he said,  “I would like to make it available to journalists in each country to make their own assessment, independent of my bias, as to whether or not the knowledge of U.S. network operations against their people should be published.” So as late as June 14th,  Snowden was  still reading and assessing the files he had stolen from the NSA four weeks earlier.     

Poitras vetted the Lam interview.  Soon afterwards she suspected that she was being followed. That was likely since by this June 14th all the intelligence services in Hong Kong knew that she was in contact with Snowden.    “I was being tailed,” she recalled in an interview with a Vogue reporter in Berlin in 2014.  “The risks became very great,” she said in describing her situation in Hong Kong. So, on June 15th, she left Hong Kong and flew back to Berlin, where she began editing her footage of the Snowden interview.

  Meanwhile, Snowden was organizing his own exit from Hong Kong. He placed a call to Julian Assange.




CHAPTER THIRTEEN
Enter Assange

“Thanks to Russia (and thanks to WikiLeaks), Snowden remains free.” – Julian Assange

       Born on July 3, 1971 in Queensland, Australia, Julian Assange had made a brilliant career of trafficking in state, military and corporate secrets.  While still a teen-ager, using the alias “Mendax” (the untruthful one), he had hacked into the computers of the Pentagon, the U.S. Navy, NASA, Citibank, Lockheed-Martin and Australia's Overseas Telecommunications Commission. At the age of 25, pleaded guilty to 25 charges of hacking in Australia, but was released on a good behavior bond.  In 2006, with the spread of TOR software, he co-founded Wikileaks, a website in which secret documents could anonymously be sent and posted. The site received little public attention until Bradley Manning sent it several hundred thousand lowly-classified U.S. military and State Department documents in April 2010.  With these stolen documents, Wikileaks became a media sensation and Assange, the runner-up for Time’s Man-of-the Year for 2010, became a leading figure, along with Appelbaum, in the global hacktavist underground.  In November 2010, however, he also ran into a legal problem.  A judge in Stockholm, Sweden ordered his detention on suspicion of rape, sexual molestation and unlawful coercion.  He denied the charges but he was arrested in London on a European arrest warrant for him.  In December, he was released on a $312,700 bail deposit (supplied by his supporters) and confined to Ellingham Hall in Norfolk, England. While awaiting the outcome of the extradition proceedings, he lived there with Sarah Harrison, his 28- year deputy at Wikileaks. A graduate of the elite Sevenoaks School in Kent, she also served as Assange’s liaison with the outside world.  Although she officially was given the title “investigative editor” of Wikileaks, she worked so closely with Assange during this period that the British press carried stories saying she was his paramour.  During this period, Harrison also worked on a Wiki leak’s documentary entitled “Mediastan/” The film concerned Wikileaks’ exposure of US secret operations in Russia and other parts of the former Soviet Union.  It was also a project which took her to Russia and provided her with a multi-entry Russian visa.

In June 2012, after the extradition order was upheld, he jumped bail and fled to the Ecuador embassy in London. For the next year, his only visible means of income was a weekly program from the embassy. It was sponsored by RT Television, a Moscow-based English-language news channel funded by the Russian government, which would also finance and release “Mediastan.”

   Snowden telephoned Assange at his refuge at the Ecuador embassy on June 10, 2013. According to Assange, Snowden needed his help for his exit plan.  He wanted Assange to use Wikileaks’ “resources” to get him out of Hong Kong.  Assange considered it a surprising request since Snowden had not given any of the stolen documents to Wikileaks.   In their discussion, according to Assange, Snowden claimed that one reason he decided to take the secret NSA documents was the brutal treatment of Bradley Manning after he was arrested in 2010 by the US government. “Snowden told me they had abused Manning in a way that contributed to his decision to become a whistleblower,” Assange said in an interview in 2015.    If Manning’s mistreatment was Snowden’s motive, it was a sharp departure from the position that Snowden had taken in his postings on the Ars Technica site in January 2009. He complained in a post on Ars Technica about the detrimental consequences to U.S. intelligence of leakers revealing “classified shit” to the New York Times, and he suggested as punishment “those people should be shot in the balls.”   Either he either had a change of heart about punishment or he was telling Assange what he believed he wanted to hear.

    Assange did not suggest that Snowden go to Ecuador to seek asylum.  He counseled him to go directly to Russia. “My advice was that he should take asylum in Russia despite the negative PR consequences,” he told the (London) Times in 2015. He found “Snowden was well aware of the spin that would be put on it if he took asylum in Russia.” Assange had another way for Snowden to defuse the “PR consequences” of Snowden landing in Moscow. A story would be released, coinciding with his departure, asserting that Snowden was “bound for the republic of Ecuador via a safe route.”

When Snowden asked how he would carry out the plan, Assange told Snowden that he would immediately dispatch one of his senior staff members to help him engineer his escape to Russia.     That senior staff member was Sarah Harrison,

 After speaking to Snowden, Assange called Harrison, who was in Melbourne, Australia.  She had gone there a month earlier to help organize Assange’s somewhat quixotic election campaign for President of Australia,     Assange now told her to forget the campaign and go to Hong Kong. Her mission there was to use Wikileaks resources to save Snowden from “a life time in prison.”  Presumably, he also told her that he advised Snowden to proceed to Russia, where Harrison had a visa since part of her work on the Mediastan film was done in Moscow.

    Harrison did not hesitate in following Assange’s instructions.  She later said that she didn’t even bother to pack her clothing.   She caught the next plane out of Australia. 

After an eight hour flight, she arrived in Hong Kong on June 11th—the same day that Snowden texted Greenwald he was in a safe house.  Harrison had her own connections in Hong Kong.  Both her two younger sisters, Kate and Alexandra Harrison, who had also attended Sevenoaks, lived there and were part of the expatriate community.  She also had an older brother, Simon Harrison, who headed Avro, a ship brokerage and commodity trading company. Although headquartered in Singapore, Avro also operated out of Hong Kong, and he frequently travelled there.  

Like Poitras, Harrison took great care to shield her movements.  She did not even have a Twitter, Facebook or any other social media account.  She made it a point not to own a cell phone for fear of being tracked by an intelligence service.  When she travelled, she bought “burner” phones locally and disposed of them before any calls could be traced back to her. A precaution she took that June was not to meet Snowden face-to-face out of concern about the surveillance of American intelligence in Hong Kong.  Instead, for her first 13 days in Hong Kong, she worked behind the scenes, through intermediaries.  Her task was not only to arrange his escape route but also to create diversions to camouflage his real destination.  Under Assange’s tutelage, she had made deceptive ploys an integral parts of her trade craft.  “We were working very hard to lay as many false trails as possible,” she later told an interviewer in Berlin. According to Assange, she booked decoy flights for Snowden to Beijing, China and New Delhi, India. She also used Snowden’s credit card numbers to pay for the flight to India, She knew that since the card was blocked, there was a high probability that it would come to the attention of US intelligence.  In all, according to Harrison, she booked no fewer than dozen such decoy tickets to confuse Snowden’s pursuers in US and British intelligence.  The only actual tickets she bought for Snowden, according to an Aeroflot official, was a one-way ticket to Moscow.  She paid for it at the last minute.  She also bought a ticket for self on the same flight leaving on June 23, 2013.

The source of the money for the Assange-Harrison operation was unclear.  Subsequently, Harrison said she was setting up secret bank accounts to help organize escape, but in Hong Kong in 2013, Assange says she was using “Wikileaks’ resources.” Harrison said the “Wikileaks team” helped fund Snowden’s flight to Russia from Hong Kong, as well as her own flight there.  But Wikileaks in June 2013 was not an organization with spare cash.  Assange had forfeited his own bail by fleeing the embassy of Ecuador, offending many of his financial supporters in Britain.  He also all but exhausted his bank account.  Aside from money that dribbled in from Poitras’ five-month old Freedom of the Press Foundation, the only visible source of funds for Wikileaks was the previously-mentioned payments Assange received from RT Television. British intelligence officers who reportedly subsequently examined Wikileaks’ bank finances in London found no transfers to the “Wikileaks team” in Hong Kong.       

   While Harrison was organizing Snowden’s escape, she remained in the deep background. Meanwhile, mounting pressure was brought on the Hong Kong government to take action by the U.S.  On June 16th, the U.S. government informed the Hong Kong authorities that it had filed a criminal complaint against Snowden and would be seeking his extradition.    Since Hong Kong had a vigorously enforced extradition agreement with the United States, the Hong Kong authority would be expected by the US to take Snowden into custody.  But Hong Kong was not entirely independent in national security issues.  China had the final say in any extradition decision.  In fact, China had explicitly been given the right of vetoing any extraditions for any reason in the formal 1999 agreement between Hong Kong and the U.S.   Since its President had just met with President Obama in California, China also had an interest in avoiding embarrassing public demonstrations on behalf of Snowden.  After he had held his press event, it wanted him out of Hong Kong. According to a well-placed official in Hong Kong, it told the Hong Kong Authority in no uncertain terms that Snowden had to be out of Hong Kong by the end of the week, or June 23rd.  

On June 19th, Snowden had a meeting with Tibbo, the barrister who would handle the court case, and Mann and Ho, the Hong Kong solicitors who had been retained for him.  It took place in a small apartment where, according to Ho, they ate pizza while they discussed Snowden’s options. 

     Tibbo had a strategy for Snowden.  It required that Snowden remain in Hong Kong, allow himself to be arrested, seek bail and fight extradition in court.  Tibbo said he planned to mount a powerful legal defense against extradition by using a provision in Hong Kong’s extradition treaty with the United States that protects fugitives from persecution on political grounds.  After he told Snowden that it would entail a long court battle, Snowden asked him if he could avoid even being arrested.

    Tibbo explained that Hong Kong courts, which closely follow British law, would certainly issue an arrest warrant for him immediately after the US formally filed charges against him.  Those charges could come within hours, he reckoned.  Soon afterwards, Snowden would be temporarily jailed and his computers, electronic gear and thumb drives would be seized and placed in the custody of the court.  Tibbo would immediately seek his release on bail but could not guarantee an outcome since Snowden, who had fled U.S. jurisdiction, might be considered a flight risk.  If so, Snowden could remain incarcerated during the long court battle.   Even so, during the litigation, Snowden would have a platform to make his case against US surveillance. Indeed, Tibbo’s strategy involved building massive public support for Snowden’s cause.

Once the US government filed charges, he could further expect it would invalidate his passport to go anywhere except for his return to the US and Interpol would issue a red alert to all its members. Since the case involved national security secrets, the Hong Kong court might also deny him any use of the Internet until the case was settled.  If Snowden wanted to leave Hong Kong, he had to act swiftly.

Tibbo, although evasive on the point when I interviewed him, may not have known about the escape Harrison was planning  As far as he could see, Snowden’s other alternatives were not good.  He had no money and his credit card had been blocked.  He had no visas to go any other country and Interpol would issue its own “red notice” as soon as the US filed formal charges against him. At that point, Hong Kong airport authorities would be officially notified and could prevent him from leaving the city.   Even if he somehow got out, he would be an international fugitive. Tibbo counseled Snowden to seek redress in the Hong Kong courts.  

 But Snowden had no intention of allowing himself to be arrested.  Despite what he told Lana Lam only one week earlier, at least for publication, about his determination to seek justice in the Hong Kong courts, he had not planned to use Hong Kong as anything more than a temporary stop over on his escape route. Two later months later and safely in Moscow, he made this point clear in a lengthily interview with Alan Rusbridger, the editor of the Guardian.  He told him that it never had been part of his plan to use Hong Kong to escape the legal consequences of his act. “The purpose of my mission [to Hong Kong] was to get the information to journalists.”  If so, he had been merely using Tibbo, Mann and Ho to provide him with temporary cover while, following the instructions of Assange, Harrison laid down the smokescreen for his escape to Moscow.




CHAPTER FOURTEEN
Fugitive

  “If I end up in chains in Guantanamo, I can live with that.”

                  •  —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. I am 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 Narváez, 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.  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 12th 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 20th, 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 24th 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 23rd, 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 he was the most famous visitor in Hong Kong, his passage through passport control may have reflected the acquiescence of the Hong Kong authorities to the reported request of China to be rid of Snowden by June 23rd.  All we know for certain is that Hong Kong airport police did not stop Snowden. 

  He was allowed on the Aeroflot flight at Hong Kong International Airport.  Aeroflot, a state-owned airline, presumably responds to the Russian government when matters of state security are concerned.  According to one Aeroflot official, ordinarily all international passengers 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.  These boarding requirements were waived so that Snowden was able to board the flight to Moscow.   

    Snowden only met Harrison in person on June 23rd, the day he was to depart Hong Kong.  She was waiting for him in the private car that Jonathan Mann had arranged to take him to the airport that morning.  Snowden was dressed in a grey shirt and khaki slacks. Harrison was also casually dressed in jeans and flip-flops.  She said she chosen this dress style so that they would blend in at the airport with vacationing tourists.  As she had financed the trip, she was apparently now calling the shots.  Harrison’s concern was that they might be arrested at the airport, so Mann accompanied them through passport control.  He was able to do this because he bought a ticker on a cheap international flight. Harrison also gave Mann a phone number to call if they got arrested. When they finally boarded the flight at 12:45 pm, Harrison effectively became Snowden’s second “carer”—a job that would require her presence in Moscow for the next four months.

Once the plane took off, Snowden, who had only said a few words in the car, said to her, as she recalled, the first full sentence she had heard from him.  It 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 24th, a booking was made for Snowden on the Aeroflot flight to Cuba, and this information was relayed to the foreign press organization in Moscow, resulting on over a dozen reporters buying tickets on the flight.  But Snowden never showed up for the flight.  This ruse resulted in these foreign correspondents flying to Havana.   “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 Bolivian President Evo Morales (who was then in Moscow for a meeting.)  That misinformation had the desired effect. US 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 Assange-inspired distraction caused an international incident but did not change the fact that Snowden was in the custody of Russia. 
     Snowden himself came to realize that those assisting him, including Assange and Harrison, were taking serious risks. “Anyone in a three-mile radius [of me] is going to get hammered,” he later explained to a reported from Vogue.  (After finally leaving Snowden in Moscow on November 3, 2013, Harrison moved to Berlin, where she set up an organization to provide, as she termed it, “an underground railroad” for other fugitives who have provided documents exposing government secrets.)

Snowden meanwhile received sanctuary in Russia.  His public statements in Hong Kong that he was willing to go prison so that others could live freely in a democratic society were, as it turned out, mere rhetoric.  Instead of risking prison, he had successfully escaped to a country in which he would be treated as a hero for defying the US government. He had not sacrificed himself, he had transformed himself.  He had risen from being a lowly technician in Hawaii whose talents went largely unrecognized, to the status of an international media star in Moscow. In his new messianic role, he could make Internet appearances via Skype to prestigious gathering such as the TED conference where he would be roundly applauded as an Internet hero.  He could be beamed into dozens of ACLU meetings where he would be celebrated as a defender of American liberty. He could describe to sympathetic audiences in Germany, Norway and France the unfairness of the American legal system, asserting that it was denting him a “far trial.”  He could now make front page news by granting interview to the New York Times, Washington Post, Nation and other elite newspapers.  He could join Poitras and Greenwald on the Board of Directors of the Freedom of the Press Foundation.   He could be the subject of both an Oscar-winning documentary, the hero of the 2016 Hollywood movie “Snowden.” directed by Oliver Stone and a consultant to the 2015 season of the television series “Homeland.” He could also be nominated for the Nobel Peace Prize in 2014.  His could also attract over one-half million followers to his tweets on Twitter in 2015. “For me, in terms of personal satisfaction, the mission’s already accomplished. I already won,” he informed the Washington Post in his first live interview in Moscow.  It was a mission that involved a very high stakes enterprise:  taking America’s state secrets abroad. 

 How he managed to succeed in this extraordinary undertaking is another story and one which may not lend itself to an innocent explanation.   Whistle-blowers do not ordinarily steal military secrets.  Nor do they flee to the territory of America’s principle adversaries. A fugitive, especially one lacking a Russian visa, does not wind up in Moscow by pure accident.   A Russian President, especially one with the KGB background of Putin, does not lightly give his personal sanction to a high-profile exfiltration from Hong Kong without weighing the gain that might proceed from it. Part of that calculus would be that the defector had taken possession of a great number of classified documents from the inner sanctum of the NSA. To be sure, the practical value of this stolen archive would require a lengthily evaluation by its intelligence services.  Finally, a defector who put himself in the palm of the hand of the FSB in Moscow would be expected to cooperate with it.  Even if such a defector did not carry these files with him to Moscow, intelligence services have the means to recover digital files, even if after they are erased from a computer or if they are sent to the cloud. Once secret documents are taken, they are compromised.  How Snowden succeeded in this coup cannot simply be pieced together from his statements and interviews. The story also requires a visit to the wilderness of mirrors called counterintelligence. 

                      ***






PART THREE
THE COUNTERINTELLIGENCE CONUNDRUM




“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 perceptions”
     —Pierre Wack, Harvard Business Review, 1985







CHAPTER FIFTEEN
Did Snowden Act Alone?

“When you look at the totality of Snowden's actions certainly one hypothesis that jumps out at you, that seems to explain his ability to do all these things, is that he had help and had help from somebody who was very competent in these matters.”

                              --General Michael Hayden, Former Director of the NSA and CIA



  Snowden describes himself a whistle-blower, and, according to the polls, the vast majority of the American public, accept this definition of him.  But the operational distinction between a whistle-blower and a spy is not always clear.  A whistle-blower enters the enterprise of stealing state secrets for reasons of conscience, but so do many spies. Such conscience-driven spies are called, in CIA parlance, “ideological agents.”  For instance, the British diplomat Donald Maclean, who was one of the most important Russian spies in the Cold War, was an ideological recruit.  Maclean stole immensely valuable US nuclear secrets for the Russian intelligence service without receiving any monetary compensation and later defected to Moscow to avoid arrest. 
   As it turns out, the acceptance of money is also necessarily a meaningful distinction when it comes to espionage.  To be sure, many spies get paid, but some whistle-blowers also receive paid a rich bounty for their work.  Indeed, under federal laws, whistle-blowers can qualify for multi-million dollars bounties for exposing financial malfeasance.  The whistle blower Bradley Birkenfeld, for example, after he himself was paroled from prison in 2012, received an award of $104 million for providing data that exposed illicit tax sheltering at the Swiss UBS bank.  Assange also offered political whistle-blower six-figure cash bounties from money he raises on the Internet. In 2015, for instance Wikileaks offered S100, 000 bounties to any whistle-blowers who provided the site with secret documents exposing details of the Pacific Trade Agreement.  

     Nor is acting alone necessarily a line that divides whistle blowers from spies. In many cases, whistle-blowers have accomplices that help them carry out their mission.   For example, in 1969, the celebrated whistle-blower Daniel Ellsberg, a military analyst at the RAND Corporation, had an accomplice, Anthony Russo, who also had worked at RAND. (Both were indicted by the government.)  Acting in concert, they copied secret documents that became famously known as the Pentagon Papers. 

Whistle-blowers also can, like conventional spies, enter into elaborate conspiracies to carry out a penetration operation, For example, on the night of March 8, 1971, eight whistle-blowers working together with burglary tools, broke into the FBI office in Media, Pennsylvania, and stole almost all the FBI files there.  The conspirators escaped and kept their identities secret for over 42 years. 

  Self-definitions also do necessarily produce a distinction between whistle-blowers and conventional spies.   Consider, for example Philip Agee.  Agee left the CIA in 1969 for what he described “reasons of conscience.” Specifically, he said he objected to the CIA’s covert support of Latin America dictators.  After contacting the Soviet Embassy in Mexico City, he defected to Cuba, where he leaked information that exposed CIA operations.  Although Agee insisted he was a whistle-blower, and he adamantly denied offering any secrets to the Soviet Union, the KGB viewed him as a conventional spy. According to Oleg Kalugin, the top Soviet counterintelligence officer in the KGB in Moscow, who defected to the U.S.,  Agee offered CIA secrets first to the KGB residency in Mexico City in 1973 and then to Cuban intelligence service. Agee provided the KGB with a “treasure trove” of US secrets, Kalugin revealed. “I then sat in my office in Moscow reading the growing list of revelations coming from Agee.”  Despite this disparity, Agee still defined himself to the public as a whistle-blower because he also had exposed CIA operations to the public.

    The Snowden case blurs the demarcation line even further.   Unlike other whistle-blowers who uncovered what they considered government malfeasance by virtue of their job, 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 Operations Center.  Switching jobs in order to widen one’s access to state secrets us 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. 

Untangling the strands of the Snowden conundrum is no easy matter. A complex burglary of state secrets had been successfully carried in a supposedly-secure site.  The only known witness, Snowden, had escaped to Russia, where he could be of help in reconstructing the crime.  The stolen data was kept in the equivalent of sealed “vaults”—which were actually computer drives that were not connected to the NSA Network ever there was a locked room mystery, this was it.

  The perpetrator Snowden pierced these barriers by using passwords that belonged to other people and using credentials that allowed him to masquerade as a system administrator. However it was carried out, it was feat required meticulous planning.   As in the earlier example of a hypothetical diamond theft from locked vaults, what is needed is to explain how a perpetrator, who did not himself have the combinations to open them or the means to remove their content, succeeded in the theft. 


To address such a mystery, a counterintelligence investigation starts with a tabula rasa, stripping away all the previous assumptions, including that Snowden was the lone perpetrator. Once back at square one, it builds alternative scenarios to test against the known facts. To be sure, scenario-building differs from that of a conventional forensic investigation 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 building looks to develop a story that is, concurrently: intrinsically consistent, humanly plausible and symbolically memorable; and in the process, it also identifies and explores the possible holes  in the case. Such scenarios must aim at constituting a limited set of alternatives that are mutually exclusive  The point is to assure that any alternative that fits the relevant facts, no matter how implausible it initially may seem to be, is not neglected.  


One of the most vexing problems that had to be explained by these scenarios is how Snowden got the passwords to up to 24 of these vaults.  He could not have obtained these passwords during his previous employment at Dell because Dell technicians did not have access to the Level 3 documents stored in these compartments.  Nor, as was discussed earlier, was he given access to them when he transferred to Booz Allen because he had not completed the requisite training.
    Snowden had also, it will be recalled, relinquished his privileges as a system administrator when he transferred to Booz Allen, so he did not have the privilege to override password protection.  In short, his new position as an infrastructure analyst did not give him the ability to enter compartments which he had not yet been read into.

There are two possible ways he could have gotten these passwords: Either he had assistance from a party who had access to them or he found flaws in the NSA’s security procedures that left the supposedly-closed vaults effectively unlocked.

The Unwitting Accomplice Possibility

As for the first alternative, it is possible whatever assistance that Snowden received was entirely unwitting.  For example, he could have simply asked other analysts at the Center who had been “read into” compartments for their passwords. But such an approach would be extremely risky for him.   If an analyst gave him his password, and it was discovered, that analyst could lose his job. Moreover, any analyst was supposed to report any request for a password to a security officer. Nor was Snowden, who had been working at the Threat Operations Center for just a few weeks as a trainee, well known to other analysts.  So asking them to break the rules was fairly risky for Snowden.    “It is inconceivable to me that his co-workers would divulge their passwords to him,” a former Booz Allen executive, who had also worked at the Defense Intelligence Agency, told me.  “If he was a system administrator he might trick a threat analyst into entering his password into his computer under the pretext that he needed it to deal with an urgent hardware issue.”   But Snowden was not a system administrator at the Center.  Snowden therefore “had no plausible reason for requesting passwords to compartment he had not been read into,” the former executive said.    I asked him what the chance was of him obtaining some 24 passwords in 5 weeks. “In my opinion, near zero,” he said.  I next asked him whether it was possible that Snowden could have used a device for intercepting another computer’s electronic signals, called by hackers a “key logger.”  Such a device, which was obtainable over the Internet, could be used to steal passwords of the analysts who had been “read into” the compartments. My source said that while it was possible that Snowden smuggled in a key logger in his backpack, it could not be operated wirelessly inside the Center because, like all other NSA facilities, the computers had been insulated to lock-out wireless transmission.  This precaution was taken to guard against an EMP, or Electro-Magnetic Pulse, attack by an enemy.  If so, the only way Snowden could intercept key strokes was to attach a cable from his key logger to each of his fellow workers’ computers.  In this scenario, he would have to surreptitiously build his own wired network connecting his hidden key logger to 24 separated computers. Moreover, he would have to do this wiring in an open-plan office where he could not count on these additional wires, even if rigged one by one, not being noticed by either other analysts on the room or the geek squad of system administrators who regularly checked connections. Making the task even more risky, according to my Booz Allen source, there were closed-circuit cameras.   The only way he could mitigate the risk of detection was by having someone help him build this network.

There was a further security barrier he had to get by. Even after he managed to obtain all the necessary passwords from colleagues, he had to transfer the files to an external storage device.  This was not a matter of simply using a thumb drive because, unlike in caper movies such as Mission Impossible, the ports on the computers at the NSA were ordinarily sealed shut. This measure was done specifically to prevent any unauthorized downloading by NSA workers.    The only people at the Center who had the authorization, and the means, to open these ports and transfer data were system administrators, according to the former Booz Allen executive.  System administrators needed to have this privilege to deal with glitches in the computers.  So they were allowed to open up the sealed ports.   But Snowden was no longer a system administrator and did not have these privileges.  So again, he needed some help. He either would need to borrow another system administrator’s credential or forge his own.  The credential he would need is called a public key infrastructure card with its authentication code embedded in a magnetic stripe. When I asked the former Booz Allen executive if Snowden possessed the skill set to forge such a card, he said that he strongly doubted any NSA employee would be capable of such a forgery without special equipment.   He could have, however, borrowed this credential from a system administrator who was willing to help him. But just asking such a favor could “set off alarms.”

The unwitting accomplice scenario had another stumbling block: time.  We know from Poitras that Snowden told her in early April 2013 that he planned to deliver documents to her in six to eight weeks (which he in fact did.) But he had not yet started working for Booz Allen at the Center until that same month. It does not seem plausible (to me) that in making such a commitment he was merely counting on the kindness of strangers to fulfill it The only way he could have known for certain that he would be able to borrow a public key infrastructure card and obtain the passwords, whether by trickery or by a key router, before he had begun working at the Center was that he already knew someone at the Center who would help him.  But such a contact leads to a witting accomplice scenario.   

The Witting Accomplice Possibility

    The witting-accomplice scenario better fits with the principle in logic called Occam’s razor that suggests that in choosing between alternative explanations, the one that requires the fewest assumptions should be given priority.  It would be a relatively easy to gain access to passwords if Snowden had the cooperation of an insider at the center that had been read into the compartments or, even better, if he had the cooperation with a system administrator with the necessary PKI cards and shell keys to bypass the password protection. Such an accomplice could also help explain how Snowden was able to get the job at the Center in the first place; how he knew in advance that he could find there the “lists” of the NSA sources in foreign countries, and how he knew that there were no security traps at the center.  Such a witting accomplice might even have prepared in advance the “spiders” that Snowden used to index the files.

     The witting-accomplice scenario of course requires a somewhat unsettling expansion of the plot.  It means Snowden collaborated with one or more insiders at the Center to steal secret documents.  It is not difficult to imagine, in light of the lax background checks at outside contractors servicing the NSA, that there were others in the “geek squad” that shared Snowden’s antipathy to NSA surveillance.   Certainly, we know that Snowden found other NSA workers who were willing to attend his anti-surveillance Crypto party in December 2012. Anyone of these other potential dissidents could have shared Snowden’s objective of exposing NSA abuses. It would only be a small next step to offer Snowden help if he was willing to go public.  Indeed, if the geek culture produced one Snowden, why wouldn’t it produce others? If such an accomplice lacked Snowden’s willingness to flee to another country, he may have limited his participation to supplying technical assistance.  For his part, Snowden may have agreed to divert suspicion from his accomplice by taking sole responsibility for the crime when he went public.

The problem with this scenario, however, is that no witting accomplices were ever found.  The FBI, which was in charge of the domestic part of investigation of the Snowden case, questioned all of Snowden’s co-workers at the Center over the course of six months but it failed to find anyone who knowingly helped Snowden.  If the accomplice was an idealistic amateur, it is likely the FBI would have found him.  Three co-workers did admit to the FBI that they might have inadvertently given Snowden their passwords but these three slips would not account for Snowden’s breach of all the other compartments. Of course, there may have also been less forthcoming co-workers hid their slips in divulging their passwords to Snowden.      

This raises the more sinister possibility that the accomplice was not an amateur co-worker but a deep-cover spy who was already in place when Snowden arrived on the scene.  Such a penetration agent could have been recruited by an adversary intelligence service before Snowden came on the scene.  After Snowden expressed a desire to expose the NSA’s domestic surveillance, it could then have used Snowden as an “umbrella” to hide its own activities. Finding such a means to protect a source while exploiting his or her information is not uncommon in espionage operations, and since Snowden was willing to flee America and go public, he could serve as a near perfect umbrella.  “Snowden may have carried out of the NSA many more documents than he knew about,” a former CIA station chief speculated. It could also account for the disparity between the claims of Snowden and the NSA damage assessment as to the number of the documents that were compromised. 

  As farfetched as this mole scenario may seem to the outside world, less than three years before the Snowden breach, the NSA had received a warning from a CIA mole, which will be discussed in greater detail in Chapter 21, that the Russian Intelligence service might have recruited a KGB mole at the Fort Meade headquarters of the NSA. No mole was found in 2010, and, if one existed, it could not have been Snowden, who at that time in 2010 was working for the NSA in Japan.  Such a putative mole conceivably could have acquired enough information to later facilitate Snowden’s operation.

  In this scenario, Snowden would not be difficult to spot as a potential collaborator and possible umbrella.  As Snowden acknowledges, he was not a happy worker at the NSA.  He complained between 2010 and 2013 about what he considered NSA abuses to coworkers, superiors and in his posts over the Internet.  If someone assumed the guise of a reluctant whistle-blower, he would have little difficulty in approaching Snowden.  Snowden might not even know his true affiliation beyond that he shared Snowden’s anti-surveillance views. If Snowden then voiced an interest in exposing the NSA’s secrets, this person could supply him with the necessary guidance, steering a still unsuspecting Snowden first to the Booz Allen position and afterwards to his associates in Hong Kong.  By taking sole credit for the coup in the video that he made with Poitras and Greenwald in Hong Kong, he acted, as he told Greenwald, to divert suspicion from anyone else. This move could also any collaborator he may have had in Hawaii time to cover his tracks. 

 The astronomer Carl Sagan famously said in regard to searching the universe for signals from other civilizations that the “absence of evidence is not evidence of absence.”  That injunction also applies to the spooky universe of espionage. The fact that a mole hunt fails to find a hidden collaborator at the NSA does not necessarily mean such a mole does not exist.  Historically, we have many notable cases in which Russian moles eluded intensive investigations for many decades. Robert Hanssen served as a KGB penetration in the FBI for over 20 years without being caught. Similarly, Aldrich Ames, acted as a KGB mole in the CIA for more than ten years, and passed all the CIA’s sophisticated lie detector tests. Both Hanssen and Ames eluded intensive FBI and CIA investigations that lasted over a decade.   According to Victor Cherkashin, their KGB case officer, who I interviewed in Moscow in 2015, the KGB was able to hide their existence from investigators for such a long period partly because of the widespread belief in U.S. intelligence that moles were fictional creatures that sprung from the “paranoid mind” of James Jesus Angleton.  When I then cited the signature line from the movie The Usual Suspects   “The greatest trick the Devil ever pulled was convincing the world he didn't exist.” Cherkashin thinly smiled and said “CIA denial [of moles] certainly helped.” 

   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. 








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 The 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 for the Russian intelligence services from 1979 to 2001.  He was a “walk-in,” who never entered the Soviet embassy or met with KGB or SVR case officers. Instead, he set his espionage in motion by passing an anonymous letter to Victor Cherkashin, the KGB spy handler working undercover at the Soviet Embassy in Washington D.C.  From the start of his work for the KGB, Hanssen laid down his own rules.  The KGB would deliver cash from which all the fingerprints were removed to locations, or “dead drops,” he specified.  He would deliver documents exposing FBI, CIA and NSA sources and methods in another dead drop. The KGB would precisely follow his instructions. Cherkashin told me that Hanssen’s “astounding self-recruitment” was executed in such a way that the KGB never actually controlled him. “He was our most important mole and we didn’t ever know his identity, where he worked or how he had access to FBI, CIA and NSA files.” Even so, the KGB (and later SVR) paid him $600,000 in cash. In return, the anonymous spy delivered 27 computer discs containing hundreds of secret documents revealing the sources and methods of American intelligence.  According to Cherkashin, it was the largest haul of top secrets documents ever obtained by the KGB (although it was only a small fraction of the number of top secret NSA, Department of Defense and CIA documents taken by Snowden in 2013.)   Cherkashin told me the price paid by Moscow was a great bargain since it helped compromise “the NSA’s most advanced electronic interception technology,” including a tunnel under the Soviet Embassy. Yet, it was only after newspapers reported that Hanssen had been arrested by the FBI in February 2001 that Cherkashin learned the name and position of the spy that he had recruited.  Cherkashin told me that what matters to the KGB was not “control” of an agent but the value of the secrets he or she delivered.  “Control is not necessary in espionage as long as we manage to obtain the documents.”  So in the eyes of the KGB, anyone who elects to provide it with US secrets is a spy.      
  It is also possible to exploit a walk-in even after he has left his service. For example, KGB Major Anatoli Golitsyn was an ideological self-generated spy who walked into the US embassy in Helsinki, Finland on Christmas Day 1962. He asked to see the CIA officer on duty announce to him he had collected a trove of KGB secrets, including information that could identify its key spies in the West. He offered to defect to the U.S. The CIA accepted his offer, and through this archive of secrets he had previously compiled, he became one of the CIA’s most productive sources in the Cold War.


     The job of an intelligence service is to take advantage of whatever opportunities comes its way in the form of self-generated spies.  If a Russian walk-in had not yet burned his bridges to his own service, US intelligence officers were under instructions to attempt to persuade the walk-in to return to his post in Russia and serve as a “defector-in-place,” or mole.  “While defectors can and do provide critical information, a CIA memorandum on walk-ins during the Cold War noted, “There are very few cases in which the same individual may not have been of greater value if he had returned to his post.”  Of course if a walk-in believed he was already compromises, as Golitsyn did, a decision would have to be made whether the value of his intelligence merited exfiltrating him to the United States.  
 This required evaluating the bona fides of the walk-in.  Not all walk-ins are accepted as defectors. Some walk-ins are deemed “dangles,” or agents dispatched by the KGB to test and confuse the CIA. Others are rejected as political liabilities, as happened to Wang Lijun, a well-connected police chief in China.  In February 2012, Wang, walked into at the US consulate in Chengdu asking from asylum.  The State Department decided against it. After Wang left US protection, he was arrested for corruption and received a 15 year prison sentence.   Such decisions about walk-ins are not made with due consideration, often at the highest level of a government, since exfiltrating a defector can result in diplomatic ruptures and political embarrassments. 

Conversely, it raises espionage concerns when an adversary government authorizes the exfiltration of a rogue employee of an intelligence service.  At minimum, it means that a rival government placed value on what the defector could provide it.  The Snowden case is no exception.   Whatever Snowden’s prior relations may have been with Russia, it could prudently assumed that after he fled to Moscow, in light of the intelligence value of the stolen documents, he would wind up in the hands of the Russian security services.  That assumption was reinforced by subsequent countermeasures that were implemented by Russia to block secret sources of NSA surveillance.   “Within weeks of the [Snowden] leaks, communications sources dried up, tactics were changed,” Michael Morell who was at that time the Deputy Director of the CIA, revealed.  It indicated that at least part of the US communications intelligence that Snowden had stole was in enemy hands. The CIA and NSA’s monitoring of these countermeasures  was itself extremely delicate since revealing what they learned about Russian and Chinese countermeasures  risked compromising even more U.S communications sources than had Snowden.  General Keith B. Alexander headed both the NSA and Cyber Command at the time these countermeasures were first detected in 2013. He said in his interview with the Australian Business Review: “We absolutely need to know what Russia’s involvement is with Snowden.” He further said, “I think Snowden is now being manipulated by Russian intelligence.  I just don't know when that exactly started.""     Much turned on the answer to this “when” question.  The counterintelligence issue was not if this U.S. intelligence defector in Moscow was under Russian control, but when he came under it.

    There were three possible time periods when Snowden might have been brought under control by the Russian intelligence service: while he was still working for the NSA; after he arrived in Hong Kong on May 20, 2013; or after he arrived in Russia on June 23, 2013.

The NSA Scenario

   The first scenario could stretch as far back as when Snowden was forced out of the CIA in 2009.  It will be recalled that the CIA then had planned to launch a security investigation of Snowden but it was aborted when he resigned.  He also had incurred large losses speculating in the financial markets in Geneva, which is an activity which had in the past attracted in interest of foreign intelligence services.  So it had to be considered in this scenario that Snowden had been recruited by the Russians after he left the CIA and directed to take jobs at civilian contractors servicing the NSA. Such “career management,” as it is called by the CIA, could explain why Snowden had switched jobs in March 2013 to Booz Allen Hamilton, which, unlike his previous employer Dell, allowed him to gain proximity the super-secrets list of the telecommunication systems that the NSA had penetrated in Russia and China.  Even though Snowden himself did not have password access to these files, since he was still as a trainee, he managed to acquire the necessary passwords from others working there.  It could also account for why the documents he copied that pertained to NSA operations in Russia were not among those he gave to Poitras, Greenwald and other journalists.  Since Russia has an active intelligence sharing treaty with China since 1996, it could further explain why his first stop was Hong Kong, a part of China.  It was a safe venue for debriefing Snowden, as well as establishing his credentials among journalists as a whistle-blower, before a decision was made to allow him to proceed to Russia.

The nearly fatal problem with this early-recruitment scenario is Snowden contacts with journalists.  Snowden, it will be recalled, had contacted Greenwald in December 2012.  Greenwald was a high-profile blogger in Brazil who did not use encryption or any security safeguards. Next, he contacted Poitras in January 2013 in Berlin who was a magnet for NSA dissidents.    Both of these contacts put Snowden’s clandestine downloading at grave risk. As known opponents of US intelligence agencies, these journalists might be, as they themselves suspected they were, under surveillance by American, British, Brazilian or German intelligence services. Greenwald and Poitras might also tell others who were either under surveillance or informers. So no matter what precaution Snowden took, his secret enterprise, or just the fact he was in contact with anti-government activists might be detected. At minimum, he could lose his access to secrets and be of no further use as a source at the NSA. He could also be interrogated and reveal the way he was brought under control.    If Snowden actually had been under the control of the Russian intelligence service, the last thing it would allow was for him to take such a risk—or even to contact a single journalist.  After all, the purpose of an espionage operation is to steal secrets without alerting anyone, including journalists, to the theft.     A former CIA officer told me that while anything could “go haywire: in an intelligence operation, it would be “unthinkable” that the Russian intelligence service would permit a source it controlled in the NSA to expose himself by contacting journalists.  It was, as he put it, a “lose-lose move.”  Assuming that the operation did not “go haywire,” Snowden’s continued interactions with Poitras and Greenwald made it implausible to me that Snowden was under Russian control before he went to Hong Kong.     

The Hong Kong Scenario

      The second possibility is that Snowden was brought under Russian control while he was in Hong Kong.  The most compelling support for this scenario comes from Putin himself,  His disclosure about the case leaves little doubt that Russian officials engaged Snowden in Hong Kong, that Putin authorized his trip to Moscow while he was in Hong Kong and the Russian government allowed him to fly to Moscow without a Russian visa. We also know that Snowden indicated to Gellman he was in touch with a foreign embassy and that he met with Russian diplomats in Hong Kong.  We know from US surveillance of his activities in Hong Kong that he contacted the Russian consulate.  And we know that the Russians went to some lengths to facilitate his trip to Moscow. All these pieces in the Hong Kong scenario support the possibility that the Russian intelligence service managed to bring him under its sway during his 33 days in Hong Kong.  

      The Russian intelligence service even might have been aware of Snowden, and his anti-NSA activities, before his arrival on May 20, 2013. Snowden, as discussed earlier, was anything but discrete in his contacts with strangers in the anti-surveillance movement, including such well known activists as Runa Sandvik (who he supplied his true name and address via email), Micah Lee, Jacob Appelbaum, Parker Higgins, and Laura Poitras. “It is not statistically improbable that members of this circle were being watched by a hostile service,”   a former NSA counterintelligence officer told me in 2015. When I told him that Poitras and others in her circle had used PGP encryption, aliases and TOR software in their exchanges with Snowden, he said, arching his eyebrows, “That might work against amateurs, but it wouldn’t stop the Russians if they thought they might have a defector in the NSA.”  He explained that both the NSA and hostile services have the “means” to bypass such safeguards. 

     I next asked him what the Russian intelligence service would have done if they had indeed spotted Snowden in late 2012 or early 2013.  “Maybe just research him,” he replied.  As we know now, he pointed out. Russia and China probably had access the 127-page standard form in his personnel file that he updated in 2011.   They also had the capability to track his air travel to Hong Kong.  “Could someone have steered him to Hong Kong?” I asked.  He answered. With a shrug, “That depends on whether  Snowden had a confidante who could have influenced him.”

Whenever adversaries became aware of Snowden in this scenario, it was not until after Snowden copied the NSA secrets and took them with him to Hong Kong that Russian intelligence officers offered him a deal.   So from the Russian point of view, Snowden had already burnt his bridges. Since he had used other people’s passwords to get into computers that he was not authorized to use,  illegally moved documents and gave a false reason for his medical leave, it was only a matter of time before NSA investigators would identify him as a possible spy.  He could be of no further use to an adversary at the NSA.  His intelligence value now lay in the documents he had taken with him or stored in the cloud as well as his ability to help clarify them in debriefing sessions.  In addition, he could have a further use to an adversary, especially if he agreed to cooperate.  By virtue of his position as a former insider, he could inflict damage on the morale and public standing of the NSA by denouncing its spying in the media.  So once in Hong Kong, the Russians would have no reason to restrain him from holding a press event or releasing a video,  In fact, in the past the KGB had organized press conferences for all the previous NSA defectors to Moscow.  Hong Kong also might be seen as a perfect venue for a well-staged media event since all the major newspapers in the world had bureaus there.  And his disclosures about the NSA spying coming under the mantle of whistle-blowing could serve to weaken the NSA’s relations with its allies.  The event would also serve to deflect suspicion from any other potential spies in the NSA, if any existed.  Snowden’s going public on June 9th 2013 provided that opportunity.

It is also possible in this Hong Kong scenario that Russian or Chinese intelligence did not become aware of Snowden until after he went public on June 9th 2013 by having the Guardian release his video. At that point, if the Russians or Chinese had any doubts how dissatisfied he was with the NSA, they would be dispelled by the video. Since dissatisfaction is one of the classic means of recruitment in the intelligence business, he certainly would become a prime target for recruitment after he went public.    The CIA also considered the possibility that Snowden also may have been reeled in unwittingly. Its Deputy Director, Michael Morell suggested in his book that Snowden may not himself have fully realized “when and how he would be used.”       



  What can be safely assumed is that the decision made by Putin’s intelligence service to allow Snowden to proceed to Russia proceeded from something other than soft-hearted sentiment about his welfare.  In addition, this decision was not made on the spur of the moment.  After Putin learned that there was an American in Hong Kong from the “special services” seeking to come to Russia, he also learned from Snowden’s own disclosure on the video that he had taken to Hong Kong a large number of NSA documents. After that self-outing by Snowden, Putin had at least 14 days to calculate the advantages and disadvantages of allowing him to come to Moscow.   To be sure, we don’t know the precise date of Snowden’s first contact with Russian officials in Hong Kong.   Putin reframed from specifying when Snowden first met them. But whenever it was, we know that he was deemed important enough by the Russian intelligence service for it to bring him to the personal attention of Putin.
       Putin could offer him not only his freedom from arrest but a platform to express his views.  The exploitation of an intelligence defector, even after he yields his secrets documents, can also be part of an intelligence operation.  General Alexander, who ran the NSA during this period, concluded that Putin was playing a deep game with Snowden by “looking to capitalize on the fact that his [Snowden’s] actions are enormously disruptive and damaging to US interests.”  This game, if Alexander’s assessment in correct, might provide Putin with ample reason to have his representatives in Hong Kong offer Snowden an exfiltration deal.

 Snowden hardly was not in any position to refuse such a deal. After the release of the video release, there was no going back to America without his facing a determined criminal prosecution.  If he had researched the issue, he would  have known that in every prior case, intelligence workers who had released even a single classified document  had gone to prison.  As his Internet postings show, he had closely followed the ordeal of Bradley Manning, whose trial was coming to its conclusion while Snowden was in Hong Kong.  So he likely knew that even though the documents Manning had sent to Wikileaks were far less damaging than those Snowden had taken. Manning had been kept in solitary confinement under horrific conditions for over a year while awaiting his trial and was facing a long prison sentence. (Manning was subsequently sentenced to 35 years in prison.)   There was no reason for Snowden to expect a better outcome for himself if he returned to the US or was arrested in Hong Kong or any other place that had an extradition treaty with the US.  As the Russian officials in Hong Kong might well have informed him, Russia had no extradition treaty with the US,  It was also one of the few places in the world that he could reach from Hong Kong without flying through airspace in which he might be intercepted by a US ally. Moreover, Putin himself had approved his exfiltration, which meant that, even without a valid passport or visa, Snowden could take the direct Aeroflot flight to Moscow.  Snowden’s choice was going to Russia or going to prison. 

The Russians could have used this leverage in the Hong Kong scenario to extract a quid pro quo. The price of admission in that quid pro quo was proving all his documents and putting himself in the hands of Russian intelligence.  To be sure, Snowden might have refused this leverage in Hong Kong, and Putin may have decided the terms of the deal could better be negotiated in Moscow.    

The Moscow Scenario


    The final possibility is that Snowden did not come under Russian control until after he arrived in Moscow.   Certainly, the Russian intelligence service could afford to wait in Hong Kong before tightening the vice on Snowden.  It knew that Interpol and the US would be pursuing him throughout the world and that Snowden had no valid travel documents to go anywhere else.  It could also have determined that his credit cards had been frozen. So it could afford to wait until his plane landed in Russia.


  After the Russians took him in a “special operation” from the plane at the airport, he was informed by Russian authorities that he would not be allowed to go to Cuba, Venezuela, Iceland, Ecuador, or any other country without the permission of Russian officials, which would not be immediately forthcoming. So he never even showed up for the flight to Cuba (which Assange had  “leaked” to the media he would be aboard.) He was now at the mercy of the Russian authorities.  There was good reason for keeping him in a virtual prison in Russia.   ""He can compromise thousands of intelligence and military officials,” Sergei Alexandrovich Markov, the co-Chairman of the National Strategic Council of Russia and an adviser to Putin, pointed out, “We can't send him back just because America demands it.""  



So Snowden was consigned to the transit zone of the airport, which is a twilight zone neither inside nor outside of Russia, a netherworld that extends beyond the confines of the airport to include safe houses and other facilities maintained by the FSB for the purposes of interrogation and security.  Stranded at the Moscow airport, Snowden had no place to go except into the waiting arms of the FSB. No matter what he had believed earlier in Hong Kong, he would quickly realize that he had only one viable option: seeking sanctuary in Russia.


     Even though the FSB is known by US intelligence to run a strict regime over present and former members of foreign intelligence services, Snowden may not have realized the full extent of the FSB’s interest in him.  He naively told the Washington Post in December 2013 in Moscow, “I am still working for the NSA right now. They are the only ones who don’t realize it.”  While he might have sincerely persuaded himself  that he was somehow helping US communications intelligence  in a self-appointed role, those familiar with the activities of the Russian security services find it inconceivable that he could escape their control in Russia. At the very minimum,   a former US intelligence worker who stole American state secrets, such as Snowden, would be under the FSB’s scrutiny.  Andrei Soldatov, the co-author of the 2010 book The New Nobility: the Restoration of Russia's Security State and the Enduring Legacy of the KGB, and who was personal knowledgeable about FSB procedures, explained the FSB would monitor “every facet of Snowden's communications, and his life.”    General Oleg Kalugin, who, as previously mentioned, defected from the KGB to the United States in 1995, added that the FSB following the standard operating procedures of the KGB, would be “his hosts and they are taking care of him.” Kalugin further said in 2014 that “Whatever he had access to in his former days at NSA, I believe he shared all of it with the Russians, and they are very grateful” 



     American intelligence officers knowledgeable about the operations of the FSB, agreed with Kalugin’s assessment.   General Hayden, for example, who served both as director of the NSA, CIA, and Air Force counterintelligence, told me in an interview that he saw no other possibility than Snowden would be induced to cooperate in this situation, saying “I would lose all respect for the Russian and Chinese security services if they haven’t fully exploited everything Snowden had to give.”   They certainly had that opportunity at Sheremetyevo International Airport: He had already, at least in the eyes of the Department of Justice, betrayed US secrets by stealing them and taking them abroad.  Snowden was held in limbo in the transit zone.  The FSB controlled his access to food, lodgings, the Internet, and whatever else he needed to survive there.  It could also return him to the US if he did not cooperate.  What recourse did Snowden have?  The only party from whom he could seek redress was Putin’s regime.  Russia’s leverage now would be even greater than in Hong Kong. If Putin chose to fully apply it, would be all but irresistible over a fugitive who had literally no place else to go.  In a word, the FSB held all the cards but one—Snowden’s help with the stolen documents. Even if Snowden disliked the tactics of the Russian security services, his situation left him a powerful inducement now not to decline the requests of the Russian authorities.  

Two weeks after his arrival, the Russian authorities provided him with a convenient path to full cooperation with Russia.  He was put in contact with Anatoly Grigorievich Kucherena, a silver-haired 53-year old lawyer, who was known as a personal friend of Putin.  Kucherena also did task for Putin’s party in the Russian parliament or Duma.  Most important for Snowden, Kucherena had excellent connections in the Russian security apparatus since he served on the oversight committee of the FSB.  He also offered to serve as the lawyer for Snowden pro bono.   On July 10, 2013, Snowden officially retained him as his legal representative in Moscow. From that point on, he would act as Snowden’s go-between with the FSB and other Russian agencies.  


At the outset, Kucherena made it clear to Snowden that he would have to play by Moscow’s rules before the Kremlin would grant him permission to stay in Russia.  To begin with, Snowden had to withdraw any and application he had made elsewhere for asylum.  He had to put his fate entirely in the hands of Putin’s Russia.  He would also have to be fully candid with the Russian authorities about what was of great value to Putin: the secret documents he had acquired.


 Two days later, Snowden made his first public appearance in Russia.  It had been, like previous press conferences with US defectors to Russia, carefully managed,  First, Snowden arrived by limousine at the international transit lounge of Sheremetyevo airport.  He was seated at a table with Harrison.  As Snowden spoke no Russian, a Russian translator was provided.  The small audience included hand-picked Russian officials, including some Putin’s close associates.  They were ushered through passport control by security men to the otherwise cordoned-off lounge.  The cameras for RT television and other Russian channels were already in place.    When everyone had taken their seats, Snowden announced in a quiet voice that was seeking asylum in Russia.  Ten minutes later, Snowden and Harrison were escorted back to the limousine which drove off to an unannounced destination.

      Snowden received Russian identification papers on August 1, 2013 that allowed him to resettle in Moscow.  Not only was he provided with a residence but he was allowed to set up in it a broadcasting studio that could be used for Internet appearance at well-attended events around the world, such as South by Southwest, TED, and other Internet conferences. Snowden was, according to Kucherena, was also furnished with bodyguards. To help earn his keep, he was employed at an unidentified Moscow cyber-security firm.  To complete his resettlement, Lindsay Mills, whom he had left behind in Hawaii, was given a 3-month visa and was allowed to temporarily live with him in Moscow.  This afforded him a life style which Snowden described in an interview as “great.”



Kucherena, although he was acting without compensation from Snowden, later received the stunning sum of one million dollars from Open Road Films, the distributor for Oliver Stone’s “Snowden” movie,  for the  rights to his not completed novel called “Time of the Octopus,”  a story based on his story of Snowden’s stay at the airport.
It would strain credibility that such privileges would be awarded to an intelligence defector who had refused to cooperate with Russian authorities. In Snowden’s case, he was even allowed to participate in a Putin’s telethon on state-controlled television.  On it, he was called on to ask Putin if the Russian government violated the privacy of Russian citizens in the same way that the American government violated rights of its citizens. Putin, smiling at Snowden’s presumably vetted question, answered in a single word: “No.”  

    In the Moscow scenario, Snowden received sanctuary, support, perks and high-level treatment by Putin himself because he agreed to cooperate.  If Snowden had not paid the price of admission, either in Russia or before his arrival, he would not have been accorded this privileged status.    





CHAPTER SEVENTEEN
The Keys to the Kingdom Are Missing

“There’s a zero percent chance the Russians or Chinese have received any documents.”

                                                   --Edward Snowden in Moscow 

The critical missing piece in Snowden enigma is the whereabouts of the NSA documents.  Greenwald told the Associated Press that the documents that Snowden had taken from the NSA constituted "" the instruction manual for how the NSA is built"" and they ""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."" Snowden indeed said on camera in June 2013 that NSA investigators would have “a heart attack” when they discovered the extent the breach.   Ledgett, the NSA official who it will be recalled had conducted the damage assessment, while not having a heart attack, confirmed that the files Snowden had taken a massive number of files, which he pout at over one million documents, and, among them, what he deemed the NSA’s “keys to the kingdom.”  These so-called “keys to the kingdom” presumably could open up the mechanism through the United States learns about the secret activities of other nations, and, by doing so, bring down the American signals intelligence system that had for 60 years monitored government communications.  It had also kept track of adversaries’ missile telemetry, submarine movements, and nuclear proliferation.

  The Snowden breach was not without precedent at the NSA.  There had been two Russian spies at the NSA during the Cold War, Jack Dunlap and David Boone who took a limited number of documents, but no one since the end of the Cold War had taken a single NSA classified document.  Now an insider removed, by any count, tens of thousands of NSA’s documents.  Moreover, many of these documents were classified “TS/SCI”—Top Secret, Sensitive Compartmentalized Information—which, as NSA secrets went, were the gold standard of espionage. Whatever the assessment of Snowden’s motivation, the single question that needed to be answered was:  What happened to these stolen files? 

To begin with, there is a huge disparity between the number of documents that the NSA calculated that Snowden compromised and the number of documents he is known to have handed over to journalists in Hong Kong on a thumb drive.  After the Snowden breach, the House and Senate intelligence committees asked the NSA how many documents were taken by Snowden.  Even though the NSA had employed a world class team of computer scientists, cryptanalysts and forensic experts to reconstruct the crime from the logs, it could not come up with a definitive number.  What it could say was how many documents had been highlighted or selected, coped and moved to another computer.  As the NSA briefed these committees in closed-door sessions, 1.7 million had been selected in two dozen NSA computers during Snowden’s brief tenure at Booz Allen in 2013. This total included documents from the Department of Defense, NSA and CIA.  Of these “touched” documents, some 1.3 million of them had been copied and moved to another computer.  The selection of these documents by Snowden could hardly be considered an accident since Snowden had used pre-programmed spiders to find and index these documents. In addition he had stated that he took the job at Booz Allen to get access to data that had been copied. So, as far as the NSA was concerned the 1.3 million documents he copied and moved were considered compromised.   On top of this haul, Snowden had copied files while working at Dell in 2012.  The total number he stole there is unknown, however, because, as a system administrator there, he could download data without leaving a digital trail.  At best, the NSA investigation could only count the documents that were published or referred to in the press and those found on the thumb drive intercepted in London that traced back to his 2012 work at Dell.  As previously mentioned, more than half the published documents had been taken during Snowden’s time at Dell.  

 Snowden supporters, to be sure, do not accept that Snowden stole such a large number of documents.  According to Greenwald, the NSA vastly exaggerated the magnitude of the theft in order to “demonize” Snowden.  Snowden also disputed the 1.7 million number.  He told James Bamford of Wired in early 2014, that he took far less than the 1.7 million documents that the NSA reported was compromised.  He further claimed in that same interview that he purposely left behind at the NSA base in Hawaii “a trail of digital bread crumbs” so that the NSA could determine which documents he “touched” but did not download. If so, these “bread crumbs” were missed by the NSA according to its statement.

    It is within the realm of possibility that the NSA Damage Assessment team under Ledgett falsified its finding to inflate the number of documents that Snowden stole.   NSA executives also might have lied to Congress to the same end.  But why would these officials engage in an orchestrated deception that made them look bad?  Ledgett, after all, had been in charge of the National Threat Operations Center from which most of the Level 3 documents were stolen. By exaggerating the magnitude of the theft it would also magnify Ledgett and other NSA’s failure in its mission to protect US secrets.  Certainly they had no reason to demonize him for legal reasons.   Greenwald and Poitras had already effectively demonized him in this regard. They revealed that Snowden had given them a vast number of NSA classified documents on a thumb drive that revealed, as Greenwald put it, the “blueprints” of the NSA. This drive contained, it will be recalled, no few than 58,000 documents.  As was discussed in Chapter I, just revealing the partial content of a single document to a journalist, as in the case of CIA officer Jeffrey Sterling, could result in two years in prison.  So in the eyes of the law disclosing the full contents of 58,000 highly-classified documents constituted an unprecedented breach of the laws passed to protect communications intelligence.    In any case, safely ensconced in Russia, Snowden was not in any legal jeopardy no matter how many documents it was claimed by the government that he stole.   It is also makes little sense that the numbers were falsified by the Department to tarnish Snowden’s 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 3rd, according to Greenwald, he was still sorting through the material to determine which ones were appropriate to give to journalists.  On June 12th 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?

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 after 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.

    After establishing some part of Snowden’s “material” was still in his possession, Shevardnadze asked the next logical question:  “Why did Russia get involved in this whole thing if it got nothing out of?”
In response, Kucherena elliptically hinted that the unreleased material contained CIA secret files.   “Snowden spent quite a few years working for the CIA.” He said. ""We haven’t fully realized yet the importance of his revelations.”  (He was correct that Snowden had stolen a larger number of CIA documents that he had not turned over to journalists, as CIA deputy director Morell confirmed.)   

Whatever this material might reveal, the FSB was presumably aware of its existence. After all, Kucherena was on the FSB’s public oversight board. If he had kept Snowden’s possessions of these documents secret from the FSB, he would not have divulged it in an interview on television.

Kucherena’s answer left little ambiguity to the critical question about the fate of the NSA’s missing documents: Snowden had not destroyed the electronic files of NSA documents that he had not distributed to journalists.  He still had them, when Kucherena had reviewed his files in Russia.  Kucherena’s disclosure that Snowden retained these crucial documents did not contradict Snowden’s own story at the time of the Shevardnadze interview.  Indeed, it was completely consistent with the statement Snowden made three weeks after arriving in Russia in his previously-mentioned email to Senator Humphrey. 

Snowden subsequently changed his story.  In mid-October, Snowden electronically-informed journalists that he had destroyed all the NSA documents in his possession before flying to Moscow.  So his new story radically contradicted what his own lawyer had said the previous month on television.

To be sure, Kucherena who later confirmed the accuracy of the Shevardnadze interview to me in Moscow in 2015 may have meant to say that Snowden only had access to the NSA documents rather than having the physical files in his possession. It is certainly possible that Snowden transferred the NSA files from his own computers and thumb drives to storage on a remote server in the so-called “cloud” before coming to Russia.     The “cloud” is actually not in the sky but a term used for remote storage servers, such as those provided by Drop Box, Microsoft, Google, Amazon and other Internet companies.  Anyone who is connected to the Internet can store and retrieved files by entering a user name and a password.  For Kucherena to be certain Snowden had access to this data, Snowden must have demonstrated his access either to him or the authorities.  The Russians therefore also knew Snowden had the means to retrieve this data. Since the data concerned electronic espionage against Russia, the FSB had every reason to ask him to share his user name and password. If Snowden had encrypted these files, it would also ask for his encryption key.  And the FSB is not known to take a no for an answer in issues involving espionage.

   Even if Snowden refused to furnish his key, it would not present an insurmountable barrier for the FSB.  Snowden may have had confidence in the power of his encryption protocols but, according to a former National Security Council staffer, the Russian cyber service in 2013 had the means, the time and the incentive to break the encryption.   It is unlikely they would have gone to the trouble since they had Snowden in the palm of their hand in Moscow. It doesn’t take a great stretch of the imagination to conclude that, by one way or another, willingly or under duress, Snowden shared his access to his treasure trove of documents with the agencies that were literally in control of his life in Russia. 

Kucherena’s answer to the question of access also may help to explain Putin’s decision to allow Snowden to come to Moscow.  As has been discussed earlier, it was not a minor sacrifice for Putin. His foreign minister, Sergei Lavrov, had spent almost six months negotiating with Hillary Clinton’s State Department a one-on-one summit between President Obama and President Putin. Not only would this summit be a diplomatic coup for Russia but it would add to Putin’s personal credibility in advance of the Olympic Games in Russia.    In mid-June, after US intelligence reported to Obama’s National Security adviser that Snowden was in contact with Russian officials in Hong Kong, the State Department explicitly told Lavrov that allowing Snowden to defect to Russia would be viewed by President Obama as a blatantly unfriendly act. As such, it could (and did) lead to the cancellation of the planned summit.  So Putin knew the downside of admitting Snowden.

But there was also an upside if Snowden had access to the NSA documents. A large archive of files containing the sources of the NSA’s electronic interceptions, as Snowden claimed he had in Hong Kong, had enormous potential intelligence value   Putin therefore had to choose between the loss of an Obama summit and the gain of an intelligence coup.  That Putin chose the latter suggests that he had calculated that the utility of the intelligence that the NSA archive outweighed the public relations advantages of the Obama summit (which, after Snowden arrived in Moscow, was cancelled by Obama.)   Would Putin have made such a sacrifice if Snowden had destroyed or refused to share the stolen data?  “No country, not even the United States, would grant sanctuary to an intelligence defector who refused to be cooperative,” answered a former CIA officer who had spent a decade dealing with Russian intelligence defectors. “That’s not how it works.” If so, it seems plausible to me that, as Kucherena said, that Snowden’s documents were accessible to him either on a computer or via storage in the cloud after he arrived in Moscow.  It explains why Russia exfiltrated him from Hong Kong and provided him with a safe haven,

 The Quickly Changing Narrative

Just three weeks after Kucherena’s stunning disclosure, Snowden changed the narrative. His first exchange with an American journalist after his arrival in Russia was not until October 1`7, 2013.   It was conducted over the Internet with James Risen, a Pulitzer-prize winning New York Times reporter.  Essentially Snowden supplied answers to a set of questions.  In then, Snowden now asserted he took no documents to Russia. The subsequent front-page story, which carried the headline, “Snowden Says He Took No Secret Files to Russia,” reported that Snowden claimed that he gave all his documents to journalists in Hong Kong and he brought none of them to Russia. He also said that he was “100 percent” certain that no foreign intelligence service had had access to them at any point during his journey from Honolulu to Moscow.   
When I later asked Kucherena in Moscow why Snowden changed his story in direct contradiction of what Kucherena had stated, he said “Wizner.”   He was referring to Ben Wizner, a top-drawer ACLU lawyer based in Washington D.C.   Wizner had joined the ACLU in August 2001 after graduating NYU law school and clerking for a Federal judge.  At the ACLU, he became an effective foe of NSA surveillance.  “I had spent ten years before this [Snowden leak] trying to bring lawsuits against the intelligence community,” he explained in an interview with Forbes in 2014.  Prior to the Snowden leak, he had been consulted frequently by Poitras on government surveillance issues (and appeared in Poitras’ 2010 documentary “The Oath.”)   He had also been engaged in a law suit aimed at exposing the NSA’s subpoenas for Verizon records.

    He had first learned about Snowden in early 2013, while Snowden was still working for the NSA, from Poitras.  At that time, Poitras did not know Snowden’s real name, but she revealed to Wizner that she had found an anonymous source with access to U.S. government surveillance secrets. So he was not completely surprised when Glenn Greenwald, Poitras’ writing partner, asked him in July 2013 to contact Snowden in Russia.

Snowden offered an opportunity  for Wizner since the ACLU already had been pursuing a suit in Federal court against the government’s seizure of Verizon’s billing records. If he could induce Snowden to retain him and the ACLU, he could claim standing in Federal court to represent Snowden in the case. He also fully believed in the salutary benefit of Snowden’s revelations.  They communicated over Skype, according to Kucherena.  When they discussed Snowden’s legal situation in America, Snowden expressed an interest in obtaining some form of amnesty from prosecution in America.  Wizner was willing to attempt to explore making a possible deal with the Department of Justice, but it would not be an easy task, especially if Snowden had turned over NSA documents to a foreign power. 

    Even to argue that Snowden was merely a NSA whistle-blower presented a serious challenge for Wizner.  The ACLU had been involved with three previous NSA whistle-blowers, William E. Binney, Thomas A. Drake, and Russell D. Tice, but Snowden’s case differed from those cases in an important ways. Binney, Drake, and Tice had not intentionally taken any NSA documents.  Snowden, on the other hand, had not only taken a large NSA documents but released tens of thousands of these top secret files to journalists based in Germany and Brazil as well as other unauthorized recipients.  In addition, the Whistle Blower Protection Act, passed by Congress in 1989, does not exempt an insider who signs a secrecy oath, such as Snowden, from the legal consequences of disclosing classified documents to journalists or other unauthorized persons.  Consequently, getting some form of amnesty for Snowden required changing Snowden’s public image from that of a person who had damaged America to an image of a person who had helped America.  But if Snowden had taken even a single top secret document to Russia, the case could be made that he had stolen communications intelligence secrets with intent to damage the United States, which under the law could be considered espionage.  In this regard, Kucherena’s disclosure was extremely damaging to Snowden’s position. 
    One way to mitigate the damage from it was for Snowden to substitute a new narrative.  In it, he would say to say to hand-picked journalists that he had given all his documents to Poitras and Greenwald in Hong Kong and took none of them to Russia,  Wizner could then  argue that documents such as the FISA warrant were improperly classified secret and that disclosing them served the public good. The government might not be able to contest his claim without further revealing NSA sources.  Under these circumstances, it might be induced to agree to a plea bargain for Snowden.  Changing the narrative would also help enhance his public image as a whistle-blower,
    Whatever the reasoning that led to it, Snowden’s new narrative was that he had destroyed all the documents he had in his possession before coming to Moscow and had no access to any NSA documents, not even those that he had distributed to journalists.  
Snowden reinforced this narrative in almost in a series f interviews arranged by Wizner. In December 2013, he met with Barton Gellman of the Washington Post.  It was his first face-to-face meeting with a journalist since he had arrived in Russia in June. To advance his narrative , Snowden turned on his laptop to Gellman and, as if proving his point, said to him “there’s nothing on it… my hard drive is completely blank.”   That his computer had no files stored on it actually meant very little. The files could have been transferred to another device, or, as was discussed earlier, to a server in the cloud.    Gellman probed further by asking the precise whereabouts of the files, but, as he reported, Snowden declined to answer that question.  All that he would say was that he was “confident he did not expose them to Chinese intelligence in Hong Kong.”   Since that answer did not nail down the issue, Wizner arranged for Vanity Fair, which was preparing an article on Snowden, to submit questions.  In his reply to them, Snowden wrote s that he destroyed all his files in Hong Kong because he didn’t want to risk bringing them to Russia.   He expanded on this claim in three more interviews arranged by Wizner.  These interviews were with three  journalists who themselves had opposed NSA surveillance: James Bamford writing for Wired magazine, Alan Rusbridger, the editor of the Guardian and Katrina vanden Heuvel, the editor of The Nation. He also gave a televised interview to Brian Williams of NBC News in which he explained that since he had no access to the NSA documents in Russia, he could not provide access to the Russians even if they “break my fingers.”   
Snowden did he specify where, when or how the putative destruction of the files occurred, and offered no witnesses or evidence, other than a blank laptop screen to corroborate it.  Even though his new narrative was widely accepted by the media,  a self-serving claim by a perpetrator  that files have been destroyed  cannot be accepted at face value in a digital age in which files can be copied to another computer or moved to the “cloud” with the click of a key,.  After all Snowden went to considerable risk to select, copy, and steal these Level 3 documents in mid-May before leaving Hawaii for Hong Kong.  They were the last medium of value he held in Hong Kong. These secrets were his potential bargaining chips. Why would he simply erase them in June in Hong Kong?    It is also difficult for me to accept that he would destroy these documents because he feared the Russians might get them. If he was so concerned about the ability of Russian intelligence, he could have stayed in Hong Kong and fought extradition instead of flying to Russia.  Once he made his arrangements to go to Russia, he must have realized that even without the files on his computer, the Russian intelligence service could still obtain the NSA secrets he held in his head.  Indeed, as he told the New York Times, the secrets he held in his head would have devastating consequences for NSA operations.
    In light of Kucherena statement that Snowden had access to NSA documents in Russia, it would require some form of a suspension of disbelief to accept Snowden’s new narrative.  But even if one was willing to accept his erasure claim, it still would not mean that the NSA documents had not fallen into the hands of adversaries.   
  If he had destroyed all of the electronic copies of the NSA’s data before boarding his flight to Moscow, he could he be “100 percent” certain, as he claimed that the data had not been accessed by others prior to his departure from Hong Kong. His files could have been copied without his knowledge, just as he had copied them without the NSA’s knowledge.  As former U.S. intelligence officers pointed out to me, adversary services could not be expected to shirk from employing their full capabilities once they learned that an American “agent of special services,” as Putin called him, had brought stolen NSA documents to Hong Kong.  The New York Times reported from Hong Kong that two sources, both of whom worked for major government intelligence agencies, “said they believed that the Chinese government had managed to drain the contents of the four laptops that Mr. Snowden said he brought to Hong Kong.”  That China had the capability to obtain Snowden’s data was also the view of former CIA Deputy Director Morell.  He said:  “Both the Chinese and the Russians would have used everything in their tool kit—from human approaches to technical attacks—to get at Snowden’s stolen data.”
Snowden would not have been a particularly difficult target for them, especially after he started disclosing secrets to journalists at the Mira hotel in Hong Kong.  Not only could the Chinese service approach the security staff at the Mira Hotel but they could track him after he left the hotel and moved, along with his computers, in and out of several residences arranged by his “carer.”  Snowden, after all, had put himself in the hands of people whom he had never met before including three Hong Kong lawyers, a “carer” and three Guardian journalists.  Presumably, the efforts of these adversary intelligence services to find him, and the NSA data, would further intensify after Snowden revealed to the South China Morning Post on June 14, 2013 that he had access to NSA lists of computers in China and elsewhere that the NSA had penetrated.

   It wouldn’t be only the Chinese service on his trail.  The Russian intelligence service would also likely be tasked to acquire these NSA documents after Snowden’s meeting with Russian officials in Hong Kong.  And while he could get away with giving coy and elusive answers to journalists who asked him about the whereabouts of the NSA data, the Russian and Chinese officials in Hong Kong, who could offer him an escape route from prison, likely would demand more specific answers about the whereabouts of data they had no already obtained by technical means. 

The Post- Hong Kong Documents

The NSA concern about who had access to its missing files deepened further when NSA documents continued to surface in the press after Snowden went to Moscow.  If US intelligence needed any further evidence that someone had access to the documents, these additional revelations provided it. The most sensational of them was a purported document attributed to Snowden concerning the NSA hacking the cell phone of German Chancellor Angela Merkel.  The story was published on October 23, 2013 on the Der Spiegel website.  The co-author of the story was Jacob Appelbaum.  Even though Snowden had by now been in Russia for four months, he was cited, along with unnamed “others” as the source for the NSA document.  Nor did Snowden deny it. Indeed. He took a measure of credit for the revelation, saying on German TV “What I can say is we know Angela Merkel was monitored by the National Security Agency.” If Snowden’s  had  released this document, it would be consistent with Kucherena’s assertion that Snowden had access to the archive.

 Adding to the intrigue, Poitras was apparently caught by surprise when the Merkel story broke in Der Spiegel.  She urgently texted Snowden on what she called “background” (which ordinarily means that a journalist will not attribute information to a source.)   She asked him in the text to explain the NSA’s actions. Snowden explained to her that Merkel was listed by her true name (and not by a codename) in the NSA document because the German chancellor was a NSA “target not an asset.” Presumably, Poitras would have already known that distinction if she had the document referred to in Der Spiegel.  If the Merkel document was not among the data given to Poitras in Hong Kong , how did it get to the authors of the Der Spiegel article?

One of the authors, Appelbaum, as discussed earlier, had been in contact with Snowden before he went public.  He had served as Poitras’ co-interrogator of Snowden while he was still working at the NSA in May 2013. Appelbaum also, was one of the leading supporters of Wikileaks.  Since he was famously an advocate of revealing government secrets,  it seems unlikely that he would have delayed releasing such a bombshell about Merkel’s phone if Snowden had given him this document before he had left Hong Kong in June 2013. Why would Appelbaum kept it secret for more than four months? The same pressure to publish would also apply to the journalists Snowden had dealt with in Hong Kong. If Snowden had given Poitras, Greenwald, Lam or MacAskill the Merkel document, or even told them about it in their interviews with him in Hong Kong, the Guardian would have certainly rushed  out such a scoop.  

According to source with knowledge of the Snowden investigation, there was no document referencing any spying on Merkel’s phone among the 58,000 documents on the thumb drive that Snowden had given Poitras and Greenwald in Hong Kong.  That absence would explain why Poitras had to send a text to Snowden in Moscow to ask for an explanation after the story broke.    Further confirmation of the absence of this document in the material Snowden provided journalists in Hong Kong comes from James Bamford, a well-respected expert on the NSA. In the course of researching his 2014 article on Snowden for Wired magazine, he was given access to all the documents Snowden gave to Poitras, Greenwald and Gellman.  Bamford used a sophisticated indexing program to search through the database specifically for The Merkel material. , Even so, he did not find any. He reported that no document that even mentioned Merkel given to journalists in Hong Kong mentioned Merkel.  It therefore appeared that the Merkel document was provided to Der Spiegel after Snowden went to Moscow in June. If so, some party had access to NSA documents after Snowden arrived in Russia and provided the authors of the Der Spiegel story with the scoop.  In that context, it may have not been a pure coincide that Kucherena’s disclosed that Snowden had access to documents which he had not given  to journalists in Hong Kong shortly before just such a document was [published in Germany. 

For his part, Bamford explored the possibility that there might be another mole in the NSA.  Was it possible another person in the NSA was stealing documents?  He wrote Poitras and asked her whether the Merkel document could have come from another person in the NSA.  He notes that she declined, via a letter from her lawyer, to answer that question.  But since she had not been the author of the Der Spiegel article,  and it had not been given the document, there is no reason to she would know its provenance. 

The post-Hong Kong documents did not stop with the Merkel one. Documents continued  to emerge years after Snowden arrived in Moscow.  In June 2015, for example, the Wikileaks website released another putative Snowden document two years after he had supposedly wiped his computer clean in Hong Kong.    It revealed that the NSA had targeted the telephones of the three consecutive presidents of France-- Jacque Chirac, Nicolas Sarkozy and Francois Hollande, all of whom were allies of the United States.    Moreover, according to a former NSA official, this 2015 document, like the 2013 Merkel material, not among the data on the thumb drive given to journalists in Hong Kong. The released on the Wikileaks site came at an embarrassing time since in the midst of NATO war games held near the Russian border, which Putin had vehemently denounced,  The accompanying article was co-authored by Julian Assange, who now claimed to have access to Snowden’s NSA material.  Since Assange, it will be recalled, had been in telephonic contact with Snowden in Hong Kong and his deputy, Sarah Harrison, had spent five months in Moscow with Snowden in 2013, it is certainly possible Snowden was his source.  But it seems difficult to believe that Assange waited two years before publishing since he has made it part of his modus operandi to publish documents immediately.  And since Wikileaks receives documents anonymously via its TOR software, any party, with access the Snowden files, could have sent it.  

Greenwald and Poitras also released belated documents. On July 15, 2015, for example, their web publication  The Intercept  released a Snowden document that t cited a NSA intercept of Israeli military communications about an Israeli raid in Syria on August 1, 2008.  It revealed that in it a group of  Israeli commandos killed General Suleiman, a top aide to President Assad who had been working with North Korea to build a nuclear facility in Syria. Israel had destroyed that facility in Operation Orchard nearly a year earlier. Whatever the purpose of this new release of a NSA document (which had little, if anything, to do with any of the NSA’s own operations); it was not among the data that Snowden had given Poitras and Greenwald in Hong Kong in 2013, according to a source with access to the investigation.  If so Poitras and Greenwald, like Appelbaum and Assange, were still receiving NSA documents that Snowden had allegedly stolen a long time after he claimed he had destroyed all his files.

The NSA reportedly determined that these belated documents, all of which concerned American allies in Germany, France and Israel, had  been among the material copied during the Snowden breach.  They provided further reason to believe that someone still had access to the documents that were not distributed to journalists in Hong Kong.  Kucherena’s disclosure just before the first post-Hong Kong release that Snowden still had access to the NSA files made it appear plausible that Snowden sent these documents to Der Spiegel, Wikileaks and The Intercept.  A former high-ranking KGB officer I interviewed had a very different view.  He told me that in his experience  an intelligence defector to Russia would not be allowed to distribute secret material to journalists without  explicit approval by the security service tending him.  , and that this injunction would be especially true in the case of Snowden after Putin publicly had forbade him from releasing U.S. intelligence data.  The alternative is that this material was released at the behest of the Russian intelligence service. 

The mystery of the post Hong Kong documents also intrigued members in the US intelligence community with whom I discussed it.  When I asked a former intelligence executive about the ultimate source for the Merkel story, he responded: “If Snowden didn’t give journalists this document in Hong Kong, we can assume an intermediary fed it to Appelbaum to publish in Der Spiegel?”  According to him, the NSA investigation had determined that Snowden indeed had copied a NSA list of cell phone numbers of foreign leaders, including the number of Merkel.  This list became the basis of the Der Spiegel story.  It was also clear that Snowden in Moscow gave credence to the release. He made a major point about the hacking of Merkel’s phone in an interview with Wired magazine in 2014.  Just about  two weeks before the leak, Kucherena said Snowden still had access to the documents. Clearly, someone had access. But whoever was behind it, the release of information about the alleged bugging Merkel’s phone resulted in badly fraying US relations with Germany in the midst of developing troubles in Ukraine.  As it later turned, according to the investigation of the German federal prosecutor concluded in 2015, there was no evidence found in this document, or elsewhere, that Merkel’s calls were ever actually intercepted.  Although they revealed little, if anything, the intelligence services of Germany, France and Israel were not already aware of, they raised a public outcry in allies  against NSA surveillance, and the outcry became the event itself.  

  While these post-Hong Kong documents had little, if any, intelligence value,  they provided further evidence that at least part of the stolen NSA documents was in the hands of a party hostile to the United States.  If so, it wasn’t much of a leap to assume that this party also had access to the far  more valuable Level 3 documents revealing the NSA’s sources and methods, such as the one that Ledgett had described as a “road map” to U.S. electronic espionage against Russia and China. 

    Within the intelligence community, this concern was heightened by new counter measure to this espionage employed by Russia and China after Snowden reached Moscow. For example, there were indications that the NSA had lost part of its capabilities to  follow Russian troop movements in the Crimea and Eastern Ukraine. U.S. intelligence officials even went so far as to suggest, according to a report in the Wall Street Journal that “ Russian planners might have gotten a jump on the West by evading U.S. eavesdropping.”

.  Britain also discovered that some of its secret operations had been compromised after Snowden went to Moscow.  According to a 2015 story in the Sunday Times of London, British intelligence had determined that Britain’s intelligence- gathering sources had been exposed to adversary services by documents that Snowden had stolen from the NSA in 2013.  These documents had been provided to the NSA by the GCHQ, the British cipher service.   Unless such intelligence disasters were freak aberrations, it  appeared to confirm General Alexander warning in 2014 that the NSA was “losing some of its capabilities, because they’re being disclosed to our adversaries.”       
Snowden’s supporters, to be sure, disputed this view.  If only as an act of faith in Snowden’s personal integrity, they continued to believe his  avowal to Senator Humphrey that he had acted to protect  U.S. secrets by shielding them from adversary intelligence services after he took them abroad.   They also continued to take him at his word when he said he had destroyed all the NSA documents before going to Russia.  Despite such protestation of Patriotic loyalty, U.S intelligence officials could not so easily dismiss the possibility that the missing documents still existed.  After all, a U.S intelligence worker  who is dedicated to protecting American secrets from its adversaries does not ordinarily takes them to an adversary country.  The NSA, CIA and Department of Defense therefore had little choice but to assume the worst had happened: Russia and China had obtained access to the “keys of the kingdom”.  Whatever the extent of the actual damage,  it was up to General Alexander’s replacement, Admiral Michael Rogers, both to restore morale and  rebuilding the capabilities of America’s electronic intelligence in the wake of the massive breach. According to a National Security staff member in the Obama White House, that job would take more than a decade.  Meanwhile,        Whoever now held the keys to the kingdom, one thing was certain: the NSA had failed to protect them. This intelligence failure did not happen out of the blue. Meanwhile, Putin added insult to the injury by awarding the alleged perpetrator sanctuary in Russia.   



CHAPTER EIGHTEEN 
The Unheeded Warning

 “The NSA—the world’s most capable signals intelligence organization, an agency immensely skilled in stealing digital data—had had its pockets thoroughly picked.”

  •  --CIA Deputy Director Michael Morell

        In April 2010, the CIA received a stark reminder of the ongoing nature of Russian espionage.  It came in the form of a message from one of its best placed moles in the Russian intelligence service. This surreptitious source was Alexander Poteyev, a 54-year old colonel in the SVR, which was the successor agency to the First Chief Directorate of the KGB.  While the FSB took over the KGB’s domestic role in December 1991, the SVR became Russia's Foreign Intelligence Service.  Its operation center was in the Yasenevo district of Moscow. The CIA had recruited Poteyev as its mole in the 1990s when he had been stationed at the Russian Embassy in Washington DC. That it could sustain a mole in Moscow for over a decade attested to its capabilities in the espionage business.  After he returned to Moscow, still secretly on the CIA’s payroll, he became the deputy chief of the SVR’s “American” section.  This unit of Russian intelligence had the primary responsibility for establishing spies in CIA, FBI, NSA and other American intelligence agencies.

The SVR’s last known (or caught) mole in US Intelligence was CIA officer Harold Nicholson in 1996.  Before it could now expand its espionage capabilities. It needed to build a network of Russian sleeper agents in the United States.  For this network, it needed to groom so-called “illegals,” or agents who were not connected to the Russian Embassy.  This so-called “illegals” network was necessary since presumably all Russian diplomats, including the so-called “legal” members of Russian intelligence, were under constant surveillance by the FBI.  Advances in surveillance technology in the 21st century had made it increasingly difficult to communicate with recruit through its diplomatic missions.  To evade it, the “American” division of the SVR was given the task of placing individuals in the United States disguised as ordinary Americans.  Their “legend,” or operational cover, could be thin since they would not be applying for jobs in the government. Their job was simply blend in with their community until they were called upon by the “American” department in Moscow to service a mole that had been planted in US intelligence or other part of the US government.  Until there were activated by such a call, they were classified as sleeper agents.  Unlike the SVR’s “legal” officers, who were attached to Russian embassies as diplomats and were protected from arrest by the Treaty of Vienna, the SVR’s illegal agents lack diplomatic immunity.  According to Pavel Sudoplatov, who defected from the KGB in the Cold War, the sole job of such sleeper agents was to “live under cover in the West awaiting assignments for the Center.”   One assignment that justifies the expense of maintaining such agents is to service a penetration, after one is made, in the US intelligence establishment.  While waiting to be activated for such a job, sleeper agents were instructed to build every detail of their cover identity so as to perfectly blend in with Americans.

To build this American network of sleeper agents took the better part of a decade. In 2005, this SVR’s “American” section in Moscow had begun methodically installing “sleeper agents” in the US. Almost all of them were all Russian citizens who had assumed new identities to better blend into their communities. 

    The CIA learned of this sleeper program through Poteyev soon after it began.  The issue was how to exploit this knowledge. When I was writing my book on international deception, Angleton had pointed out to me that “the business of intelligence services is understanding precisely the relationship of their opposition to them.” His view, though his opponents inside the CIA would call it with some justification an obsession, was that an intelligence service had focus on the moves of its rivals. To accomplish this “business” in the first decade of the 21st century, the CIA had to establish why its new opposition, the SVR, was laying the foundation for an espionage operation.  What were its priorities in the resumption of the intelligence war? Its inside man, Poteyev, in the SVR, provided it with a tremendous advantage in this relationship.  It knew the links in a sleeper network that the SVR believed was safely hidden from surveillance.  If they were followed, when they were activated they could expose whatever recruits the SVR had in the American government.  The CIA duly shared this information about the sleeper ring with the FBI, which had the responsibility for the surveillance of foreign agents in the United States, The FBI, for its part, kept the Russian sleeper agents under tight surveillance—an operation which grew in complexity and expense as more SVR agents arrived in the US.

Meanwhile, in Moscow, Poteyev was following the unfolding operation. Part of his SVR job was to continue preparing these “Americans,” as they were called by the SVR, for their assignments.  Some had been sent as couples, other as singletons.   One of the singletons that Poteyev personally handled was Anna Kushchyenko.  She was a strikingly beautiful Russian student, who changed her name to Anna Chapman by briefly marrying a British citizen she met at a rave party.  After taking his name, she left him.  After completing her training in Russia, the SVR sent her to New York City to establish herself as international real estate specialist.  Other “Americans” under Poteyev’s watch became travel agents, students, and financial advisers.  In all, Poteyev identified to the CIA twelve such sleeper agents.  Since they had been instructed to simply act out their role, while awaiting an intelligence assignment, they presented no real threat.  Even so, the cost of FBI surveillance over the years became sizable. Around the clock surveillance on the movements and communications of a single individual can cost, according to a former FBI agent, over $10,000 a day.

   The situation suddenly changed when the CIA received Poteyev’s message in 2010.  It warned that Russian military intelligence had asked the SVR to activate some of its sleeper agents for a highly-sensitive assignment.  Such a move suggested that Russian intelligence had found a possible source that could supply it with valuable information.   According to a former CIA 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 agents were to be assigned.  All it had discovered was the history of the preparations for a major espionage revival. It now knew that the SVR had installed plumbing in America that one or more agents in this network had been activated to handle a possible recruit in the NSA.  But without anyone left in the sleeper network to follow and without an inside source in the SVR, it had no further avenues to fruitfully pursue.  The revelation of the sleeper agents had little, if any, other intelligence value.

   The NSA’s own security investigation turned up no evidence of a leak at Fort Meade in 2010.  The absence of evidence of a penetration in a security investigation is not in itself evidence of the absence of a penetration.  The Russian intelligence service had demonstrated in the past it was well-schooled in covering its tracks in operations against US communications intelligence. For example, CIA counterintelligence had learned from a KGB defector in the early 1960s that Russian intelligence had penetrated the cipher room at the US Embassy in Moscow and, because of this operation, the KGB was able to decipher crucial communications.  Even so, it failed to find either the perpetrator or any evidence of his existence for more than a half century.  The operation was only definitively revealed by Russian spymaster Sergey Kondrashev in 2007.  Tennent Bagley, who headed the CIA’s Soviet Bloc counterintelligence at the time, late wrote in his book that the ability of Russian intelligence to conceal this penetration for more than a half century “broke the record for secret keeping.”

 This Russian ability to penetrate US intelligence was not entirely defeated by America’s implementation of more sophisticated security procedures, such as the polygraph examination and extensive background checks.  In 1995, only 10 years before Snowden joined it, the CIA's inspector general completed a study of the KGB’s use of false defectors to mislead the US government from the end of the Cold War in late 1980s through the mid-1990s. It found Russia had dispatched at least half-dozen double agents who provided misleading information to their CIA case officers. Because the KGB operation went undetected for nearly a decade, the disinformation prepared in Moscow had been incorporated into reports, which had a distinctive blue stripe to signify their importance, had been provided to the three American Presidents, Ronald Reagan, George H.W. Bush and Bill Clinton.  Even more shocking, in tracing the path of this disinformation, the Inspector General found that the ""senior CIA officers responsible for these reports had known that some of their sources for this information were controlled by Russian intelligence,” yet they did not inform the President and officials receiving the blue-striped reports, that they had included Russian misinformation. What CIA Director John Deutch called ""an inexcusable lapse"" also reflected a form of institutional willful blindness in US intelligence, borne out of bureaucratic fear of career embarrassment so well described in LeCarre's spy novels. Detecting intelligence failures has, if anything, become even more difficult in the age of the anonymous Internet.

   The NSA’s vulnerability to intelligence lapses, which became all too apparent with Snowden, had departed America with a large selection of its most secret documents. The Snowden breach 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].”  

If Snowden could cause such massive damage, so could other civilian trainees at the NSA. Someone in the chain of command had to take responsibility, General Alexander tendered his resignation on June 30th, 2013. “ I’m the director, “he said, falling on his sword.  “Ultimately, I’m accountable. “ As President Obama did not want the head of the NSA resigning in the midst of the Snowden crisis, he asked him to stay on for another six months.  He then appointed Admiral Michael Rogers to be his replacement.  Meanwhile, it had become undeniable clear to the Review Committee appointed by President Obama in 2013 that the NSA’s own defenses had catastrophically failed.  If so, this change was the equivalent of re-arranging the deck chairs on the S.S. Titanic after it hit an iceberg.  

.    





PART FOUR


THE GAME OF NATIONS



“I learned that just beneath the surface there's another world, and still different worlds as you dig deeper.”
--David Lynch on his 1986 film Blue Velvet 




CHAPTER NINETEEN
The Rise of the NSA

“There are many things we do in intelligence that, if revealed, would have the potential for all kinds of blowback,” -- National Intelligence” – James Clapper, Director of National Intelligence 

In the Game of Nations, which is played at a level that often is not visible to public scrutiny, the great prize is state secrets that reveal the hidden weaknesses of a nation’s potential adversaries. The most important of these in peacetime is communication intercepts.  It was just such state secrets that Edward Snowden took from the NSA in the spring of 2013.  Before that breach, America’s paramount advantage in this subterranean competition was its undisputed dominance in business of obtaining and deciphering the communications of other nations.  The NSA was the instrument by which the United States both protected its own secret communications and stole the secrets of foreign nations.  The NSA, however, has an Achilles’ heel: it is dependent on civilian computer technicians who do not necessarily share its values to operate its complex system.  Because of this dependence, it was not able in 2013, as it turned out, to protect its crucial sources and methods.

Snowden exposed this vulnerability when he walked away with, among other documents, the 32,000 page-long country by country descriptions of the gaps in America’s coverage of the communications of its adversaries.    Even though the Cold War had been declared over after the collapse of the Soviet Union a quarter of a century earlier, the age-old enterprise of espionage did not end with it.  Russian and China still sought to blunt the edge that the NSA gave the United States.  So the Snowden breach cannot be simply looked as an isolated event. It needs to considered in the context of the once and future intelligence war.  

The modern enterprise of reading the communications of other nations traces back in the United States to military code-breaking  efforts preceding America’s entry into the First World War   The invention of the radio at the end of the nineteenth century soon provided the means of rapidly sending and getting messages from ships ,  submarines,  ground forces, spies, and embassies.  These over-the-air messages could also be intercepted from the ether by adversaries. If they were to remain secret, they could not be sent in plain text. They had to be sent in either code, in which letters are substituted for one another, or, more effectively, cipher, in which numbers are substituted for letters.  Making and breaking codes and ciphers became a crucial enterprise for nations. By 1914, the US Army and Navy had set up units, staffed by mathematicians, linguists and crossword puzzle-solvers to intercept and decode enemy messages.  After the war had ended in 1918, these units were fused into a cover corporation called the “Code Compilation Company,” which moved to new offices on 37th Street and Madison Avenue in New York City.  Under the supervision of the famous cryptographer Herbert O Yardley, a team of 20 code-breakers was employed in what was called the “Black Chamber.”   Yardley arranged for Western Union, which has the telegraph monopoly in America, to provide the Black Chamber with all the telegrams coming into the United States.  “Its far-seeking eyes penetrate the secret conference chambers at Washington, Tokyo, London, Paris, Geneva, Rome,” Yardley wrote about the Black Chamber. “Its sensitive ears catch the faintest whispering in the foreign capitals of the world.”  But in 1929, at the instructions of President Herbert Hoover, Secretary of State Henry Stimson closed the Black Chamber saying famously “Gentlemen should not read each other's mail.”  The moratorium did not last long.  With war looming in Asia and Europe, President Franklin D. Roosevelt reactivated the operation as the Signals Security Agency.  It proved its value in breaking the Japanese machine-generated cipher “purple.” In June 1942, using deciphered Japanese messages to pinpoint the location of the Japanese fleet at Midway; America’s won a decisive naval victory in the Pacific.  Germany’s Enigma encoding machines, with three encoding wheels, proved more of a challenge.  Initially British cryptanalysts led by the brilliant mathematician Alan Turing succeeded in building a rudimentary computer to decipher German messages to its submarines and bombers, but, in 1942, Germany added a fourth set of encoding wheels, escalation what essentially was a battle of machine intelligence.  The US Navy then contracted with the National Cash Register Company to build a computing machine capable of breaking the improved Enigma, and, in May 1943, it succeeded.     By the time the war ended in 1945, the US had over one hundred giant decryption machines in operation.   This unrivalled capability to read the communications of foreign nations, which remained one of America’s most closely guarded secrets, was transferred to the Army Security Agency based at Fort Meade, Maryland.  Then, on October 24, 1952, President Harry S. Truman, greatly expanded its purview and changed its name to the National Security Agency. 

     The NSA was given two missions.  The first one was  protecting the communications of the US government.  The main threat to breaching U.S. government channels of communications was the Soviet. The second one was intercepting all the relevant communications and signals of foreign governments.  This latter mandate included the governments of allies as well as enemies. The President, the other intelligence services and the Department of Defense deemed what was relevant for national security.  Even though the NSA remained part of the Department of Defense, its job went far beyond providing military intelligence.  It also acted as a service agency to other American intelligence services.  They prepared shopping lists of foreign communications intelligence and the NSA fulfilled them. 

 As the Cold War heated up in the 1960s, the NSA provided intelligence not only to the Pentagon but to the Department of State, Central Intelligence Agency, the Treasury Department, the Atomic Energy Commission, and the FBI. With a multi-billion dollar “black budget” hidden from public scrutiny, the NSA’s technology directorate invested in state-of-the-art equipment, including super computers that could break almost any cipher, antennae mounted on geosynchronous satellites that  vacuumed in billions of foreign telephone calls and other exotic capabilities.  It also devised stealthy means of breaking into channels that its adversaries believed were secure.  This enterprise required not only an army of  technical specialists capable of remotely intercepting even the faintest traces of  electromagnetic signals, hacking into computers, and eavesdropping on distant conversations, but using  special units, called “tailored access operations,” to plant listening devices in  embassies and diplomatic pouches.  It also organized elaborate expeditions to penetrate cables in enemy territory. In 1971, for example, the NSA had sent a specially-equipped submarine into Russia’s Sea of Okhotsk in Asia to tap through Arctic ice. The target was a Russian cable 400 feet below the surface that connected the Russian naval headquarters in Vladivostok with a missile testing range.

   In 1980, President Ronald Reagan, gave the NSA a clear mandate to expand its interception of foreign communications. In Executive Order 12333, he told the NSA to use “all means, consistent with applicable Federal law and (this Executive) order, and with full consideration of the rights of United States persons, shall be used to obtain reliable intelligence information to protect the United States and its interests.”  It did restrict any foreign country, either an adversary or an ally, from its surveillance.

  The NSA’s target soon became nothing short of the entire electromagnetic spectrum.  “We are approaching a time when we will be able to survey almost any point on the earth’s surface with some sensor,” Admiral Stansfield Turner, the former Director of Central Intelligence wrote in 1985.  “We should soon be able to keep track of most of the activities on the surface of the earth.”   Bobby Ray Inman, a former director of the NSA and deputy director of the CIA, argued that the “vastness of the [American] intelligence ‘take’ from the Soviet Union, and the pattern of continuity going back years, even decades,” greatly diminished the possibility of Soviet deception so long as the NSA kept secret its sources.

 The NSA did not rely entirely on its own sensors for this global surveillance.  It also formed intelligence-sharing alliances with key allies the most important was with the British code-breaking service, called the Government Communications Headquarters, or GCHQ, which in World War II had achieved enormous success in using computers to crack the German Enigma cipher.  This alliance expanded to include Canada, Australia, and New Zealand, in the so-called Five Eyes Alliance.   Since over 80 percent of international phone calls and Internet traffic passed through fiber-optic cables in these five countries, the alliance had the capability of monitoring almost all phone and internet communications.    .The NSA also established fruitful liaisons with the cyber-services of Germany, France, Spain, Italy, Netherlands, Portugal, Israel, Japan, and South Korea, who often were willing to provide the NSA with access to telecommunications links in their countries. These long-term allies greatly strengthened the NSA’s hand in other ways in the intelligence war. For example, the so called “James Bond” provision of the British Intelligence Services Act 1994 allowed officers of the GCHQ to commit illegal acts outside of Brittan including planting devices to intercept data from computer servers, cell phones, and other electronic targets.  And, as Snowden’s release of documents  revealed in 2013 and 2014, these foreign allies fully shared their information with the NSA.

    Of course, the liaison between the NSA and its allies was a two way street.   In 2013, none of these other countries had a global network of geosynchronous sensors in outer space and under the ocean  that could monitor signals from missile launching, submarine, military deployments, nuclear tests and other matters of strategic importance to them.  Nor did these allies have the cipher-breaking capabilities of  the array of NSA super computers.   The NSA had assiduously built these means at a cost of over a half trillion dollars and employed tens of thousands of linguists who could translate almost any dialect or language of interest.

   Even though these allies had their own ciphers services and local capabilities they depended on NSA to provide them a large share of their signal intelligence.  From the perspective of defending themselves from potential threats, the deal that these allies had with NSA was a mutually-advantageous.

    The NSA’s overseas intelligence gathering was not limited to adversary nations. With the exception of the Five-Eye allies, it gathered data that was deemed of importance by the President and Defense Department in friendly countries.  These operations had been approved by every American President, and funded by every American Congress, since 1941.  After all, even in the realm of allies, activities take place that run counter to American interests.  The 911 conspiracy, for example, was hatched in Hamburg, Germany and financed in Dubai and Saudi Arabia.  Nor were American allies unaware of the reach of the NSA.  “Yes, my continental European friends, we have spied on you.  And it is true we use computers to sort through data by using keywords,” former CIA Director James Woolsey wrote in the Wall Street Journal in 2000, “Have you stopped to ask yourselves what we are looking for?”  Whether or not it was appreciated by other countries, the global harvesting of communication intelligence by the NSA was hardly secret.

As the NSA expanded further, it delegated part of its work to regional bases, including ones in Utah, Texas, Hawaii and Japan.  The paramount task of the NSA remained monitoring the channels of communications that an adversary might use.  The vast proliferation of these channels in cyberspace, which included email, social media, document sharing and other innovations of the Internet age, greatly complicated this task. Even so, this challenge was not insurmountable because most of the Internet actually travelled through fiber-glass land-line cables that crossed the territories of the United States, Britain and Australia.  So the NSA found the technical means, including voluntary gaining access to major Internet companies, to “harvest” vast amounts of this Internet data.  America’s other intelligence agencies quickly recognized the value of the communications intelligence gleaned from foreign telecommunications.   John E. McLaughlin, who was the CIA’s Acting Director in 2004, described the NSA as nothing less than the “very foundation of US intelligence.”  This service proceeded from the immense amount of foreign data that the NSA vacuumed in through its global sensors.  This data allowed the CIA and other US intelligence services a means for verifying the reports of its human sources as well as discovering new targets in adversary nations for further investigation.

By the first decade of the 21st century, the NSA’s surreptitious efforts to render the Internet transparent to US intelligence had earned it a new set of enemies.  They were the previously-mentioned hacktavists who were attempting to shield the activities of Internet users from the intrusions of government surveillance.  They employed both encryption and TOR software to defeat that surveillance.

 The NSA was not about to be defeated by the tactics of amateur privacy advocates. It did not conceal that it was intent on countering any attempt to interfere with its surveillance of the Internet.  It built back doors into their encryption and worked to unravel the TOR scrambling of their IP addresses.  It made leading hacktavists targets. Brian Hale, the spokesman for the Director of National Intelligence, disclosed that the US routinely intercepted the cyber signatures of parties suspected of hacking into US government networks.    

    Following the 9/11 attack on the Pentagon and World Trade Center, the surveillance of the Internet also became an integral part of Bush’ administration’s war on terrorism. In October 2001, Congress expanded the NSA’s mandate by passing the USA Patriot Act.  Section 215 of the act directly authorized the NSA, with the approval of the FISA court, to collect and store domestic telephone billing records.  The idea was to better coordinate domestic and foreign intelligence about Al-Qaeda and other jihadist groups. The mantra in government after the 9/11 was to “connect dots.”  Congress with this back essentially called for demolishing the wall by domestic and foreign intelligence when it came to foreign-directed terrorism. The act effectively made the NSA a partner with the FBI in tracking phone calls made from the phones origination outside the United States by known foreign jihadists.  If these calls were made to individuals inside the NSA was now authorized to retrieve the billing records of the person called and those people who he or she called.  These traces were then supplied to the FBI. When a New York Times expose in 2008 revealing that NSA surveillance has been extended to domestic telephone used, Congress passed the FISA Amendments Act of 2008 explicitly allowing the NSA to continue these practices if it obtained a FISA court order.  Congress also sanctioned the NSA’s supplying the FBI with the emails and other Internet activity of foreign Jihadists if it was suspected of planning attacks in America. This put the NSA directly in the anti-terrorist business in the United States.  It also necessitated the NSA vastly increasing its coverage of the Internet.

     The new duties also increased the NSA’s need to create new bureaucratic mechanism to monitor its compliance with FISA court orders,  Rajesh De, the NSA’s General Counsel at the time of the Snowden breach, described the NSA as becoming by 2013 “one of the most regulated enterprises in the world.”  Grafted onto its intelligence activities were layers of mandated reporting to oversight officials.  Not only did the NSA have its own chief compliance officer,  chief privacy and civil liberties officer, and  independent inspector general but the NSA also had to report to a difference set of compliance officers at the Department of Defense the Office of National intelligence and the Department of Justice   On top of reporting to those officials, the Department of Justice dispatched a team of lawyers every 60 days to review the results of “every single tasking decision” approved by the FISA court. According to Rajesh De, just assembling these reports involved thousands of hours of manpower.   In addition, the President’s Oversight Board required that NSA’s Office of the General Counsel and Inspector General supply it every 90 days with a list of every single error made by every NSA employee anywhere in the world deviating from procedures, including even minor typing errors.  These requirements, according to De, inundated a large part of the NSA legal and executive staff in a sea of red tape.  Yet, this regulation could not undo surveillance programs such as the one Snowden revealed of Verizon turning over the billing records of its custumers to the NSA, because the NSA was in compliance with the FISA court order (even though, as it turned out in 2015, the FISA court may have erred in interpreting the law.)

     The NSA’s focus on surveillance may have led to the neglect of its second mission: protecting the integrity of the channels through which the White House, government agencies and military units send information.  This task had been made vastly more difficult by the proliferation of computer networks, texting and emails in the 21st century. To protect against cyber attacks against government networks, the Pentagon belatedly created the Cyber Command in 2009. In it, the cyber defense units of the Army, Navy, Marines, and Air Force cyber forces, were merged together in this new command put under the command of the NSA director.  NSA director Keith Alexander became the first director of this new command.   One problem for the Cyber command was separating attacks by civilians, including criminals, hacktavists and anarchists, from cyber warfare sponsored and supported by adversary states.  Since foreign intelligence services often closely imitated the tools of civilian hackers, and were even known to provide them with hacking tools.  Even for the Cyber Command, it was not easy challenge to unambiguously determine if the ultimate perpetrator of a cyber attacks was state-sponsored. For example, the identification of North Korea as the principal actor behind the attack on Sony in December 2014 appeared to be a rare success, but many cyber-security experts believed that it might be a false trail used to hide the real attacker.  The problem here was that clues can be fabricated in cyber space to point to the wrong party.

The job of the Cyber command was to prevent such an attack.  To this end, it planted viruses on hundreds of thousands of computers in private hands to act as sentinels to spot other suspicious viruses that could mount such an attack.  So private computers became a new battleground in the cyber was. It also built a capability to retaliate. The problem was that, unlike incoming missiles, cyber attacks which were launched through layers of other country’s computers could not be unambiguously traced back to the true perpetrator.

  This escalation by the Cyber Command set the stage for expanded forms of warfare in Cyber space.  “The Chinese are viewed as the source of a great many attacks on western infrastructure and just recently, the U.S. electrical grid,” General Alexander said in explaining the need for this consolidation. “If that is determined to be an organized attack, I would want to go and take down the source of those attacks.”  The same retaliation would presumably be used against Russia, Iran or any other adversary. Dominance of cyber space itself now became part of the NSA’s mandate.

    Even so, the most important job of the NSA remained intercepting secret information from Russia, China, Iran, and North Korea.  To this end, it had an annual budget of $12.3 billion and some 35,000 military and civilian employees.   In 2012, James Clapper, Jr., the  Director of National Intelligence justified the secret intelligence budget by saying in an open session of Congress,  “We are bolstering our support for clandestine SIGINT [signal intelligence]  capabilities to collect against high priority targets, including foreign leadership targets,” and to develop “groundbreaking cryptanalytic capabilities to defeat adversarial cryptography and exploit Internet traffic.”  It was no secret, even before Snowden, that the NSA was engaged with monitoring the Internet.   

Through all this tumult the heart of the NSA’s activity remained its 5,000 acre base at Fort George G. Meade, Maryland.  It commanded the most powerful mechanism for intercepting communications that the world had ever seen.  No other country came close to its technology for intercepting information.  The NSA was not only able to intercept secret information from these potential adversaries, but it also, at least not until the Snowden breach, managed to conceal these means from them.  As long as these adversaries remained blind to the ways in which its communications were being intercepted, deciphered and read by the NSA, they could not take effective countermeasures.   Consequently, he NSA had the capability to provide the President and his advisers with continuous insights into the thinking and planning of potential enemies. 

Keeping its sources and methods secrets was no easy task.  The NSA’s technicians had to deal with continuous technical challenges to provide a seamless harvesting of data from a wide range of communication devices, including telephones, computers and the Internet.  It required continuous intra-agency communications between the NSA’s own intelligence officers and a growing number of civilian technicians. It even had its own “Wiki-style” network through which they could discuss problems, called the NSANet.  As it could not tightly control access to this technical network, it expunged any mention of the sources and methods from the material circulated on the classified NSA network. Instead, it stored them in discrete computers, called compartments that were disconnected from other computers at the NSA. These compartments could only be accessed by a limited number of analysts and NSA executives who had a need to know about the data they contained.  These compartments were the final line of defense against an inside intruder.

  In 2009, Snowden found his way into the NSA through a temporary job with an outside contractor that had a contract with the NSA’s Technology Directorate to repair and update it back-up system.  Four years later, by maneuvering to get hired by another outside contractor with access to the NSA’s sources and methods, he was able to steal secrets stored in isolated computers bearing directly on the ongoing intelligence war.    Snowden also copied from these compartments in a matter of weeks, as has been previously mentioned, the NSA’s Level 3 sources and methods used against Russia, Iran and China. The Snowden breach demonstrated that the NSA’s envelope of secrecy was at best illusory.

After this immense loss, the NSA’s sources inside these adversary countries were largely compromised even if they were not closed down. Once these adversaries were in a position to know what channels the NSA was intercepting, they could use these same channels to mislead US intelligence.     A former top intelligence official told me “The queen on our chessboard had been taken.”    

To be sure, even after the loss of its “queen,” the game was not lost. The NSA moved to mitigate the damage and find new ways of obtaining unexpected intelligence. In June 2014, the new NSA director Admiral Michael Rogers had to confront flagging morale that, according to former director Michael Hayden, was near-paralyzing the intelligence service.  Admiral Rogers recognized that as a direct result of the Snowden breach “the nation has lost capabilities against adversaries right now who are attempting to actively undermine us.""  But even with that loss, he observed “the sky has not fallen.”    As in the Chicken Little fable he cited, the world had not ended for the NSA.  Nor had it ended for the multi-billion out-sourcing enterprise it superintended.  The NSA may have lost many of its sources, or “capabilities,” but Rogers held out hope that new sources could be eventually found to replace them. Compromised codes, after all, could be changed. New technological methods could be devised. New vulnerabilities also could be targeted in enemy territories.  Although repairing the damage might take many “decades.” according to Michael McConnell, the Vice Chairman of Booz Allen, the new director had to get on with that task. McConnell, a former NSA director himself, pointed out that the NSA Director’s “first responsibility is to be the chief cheerleader."" Rebuilding the NSA capabilities assumed, however, that there would not be another Snowden-size breach.


  The question remained: how could the NSA’s vaunted secrecy have been so deeply penetrated by a mere analyst-in-training at a regional base in Oahu?  The perpetrator himself could not be asked. He was in Moscow, supposedly employed by an unnamed Russian cyber security firm.  He was also in his Moscow interviews pointing to the “incompetence” of the NSA. All that was known for certain about the young man who had taken the “queen” from the board was that he had gained entry to the NSA’s secret chambers through the back door, a portal opened to him by the NSA’s reliance on outside contractors.





CHAPTER TWENTY
The NSA’s Back Door

“You have private for-profit companies doing inherently governmental work like targeted espionage, surveillance, compromising foreign systems. And there’s very little oversight, there’s very little review.”

          -  Edward Snowden, explaining his access to the NSA in Moscow, 2014

     Prior to Snowden’s theft of NSA documents, the single most shattering blow to the confidence of the US intelligence community was the exposure of Aldrich Ames as a long-serving Russian mole in the CIA in 1994. Ames, it will be recalled, had been a high-ranking CIA officer.  He had even worked at the CIA’s Counterintelligence Center Analysis Group before he was arrested by the FBI.  He had also worked as a mole for Russian intelligence. (His recruitment by the KGB will be further discussed in Chapter twenty-seven.)

 In a plea bargain to avoid the death sentence, he admitted that he had successfully burrowed into the CIA for over nine years on behalf of the KGB. His description of his sub rosa activities as a mole was part of the plea bargain. He was sentenced to life imprisonment.   This stunning revelation shook the CIA leadership to its core. Up until then, as mentioned earlier, CIA executives steadfastly denied that it was possible that the KGB could sustain a mole in American intelligence.  The Ames arrest also led the NSA to reassess its own vulnerability to penetration.  Could there be an Ames inside the NSA?

     The question was considered by the NSA’s National Threats Operations Center, the same unit from which Edward Snowden later stole a huge trove of secret documents.  According to a report in 1996 entitled “Out of Control” (later released by the NSA), the danger of an Ames-type penetration could not be excluded. Even though the “threat officer” who wrote this report was not identified by name, his analysis proved incredibly prescient.  He said that the NSA’s drive to enhance its performance by networking its computers would result in the intelligence services, putting “all their classified information ‘eggs’ into one very precarious basket.” The basket was the computer networks run by technicians called: system administrators.”  He pointed out that the NSA was becoming increasingly dependent on such networked computer systems, and he predicted that the NSA’s “Aldrich Ames.” As he put it, would be a “system administrator”—which was the position that Edward Snowden held nearly two decades later at Dell when he began stealing secrets.

      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 as a 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 espionage work for another 8 years.  (Whitworth, who was arrested by the FBI in 1985, was convicted of espionage and sentenced to 365 years in prison.)

The Internet provided an almost ideal environment for false flags since its users commonly adopt aliases, screen names, and other avatars. The threat officer explained how easy it would be for the KGB to adapt such a false flag when dealing with a dissident system administrator working for US intelligence. As the threat officer pointed out in his report, the KGB had used false flags in the late 1980s to surreptitiously recruit members of the “German Hanover Hackers,” a community of anarchistic hackers who breached computer networks for fun and profit.   Up until then, these hacktavists stole corporate and private passwords, credit card information, and other privileged documents as a form of freelance espionage.  Because of their fervent anti-authority ideology, the KGB disguised its recruiters as fellow hacktavists. The KGB succeeded in getting the Hanover hackers to steal log-in account identifications, source codes and other information from U.S. government computer networks. 
   The precise vulnerability that this threat officer pointed out in 1996 was system administrators. This weak link became increasingly relevant as the NSA moved further into the digital age. By the beginning of the 21st century, its growing networks of computers were largely run by civilian technicians, including system administrators, infrastructure analysts, and information technologists, who were need to keep the system running.  Despite the warning by the threat officer, the NSA became more reliant on these outsiders as it reorganized to meet its new mandates for surveillance of the Internet in the war on terrorism.   Since the NSA had to compete with technology companies, such as Google, Apple and Facebook, for the services of experienced IT workers, it used private contractors to find them.  They, in turn, recruited civilian technicians from many unconventional areas, including the hacking culture.  Ex-hackers, who lacked (or shunned) employment opportunities in the corporate sector, were suitable candidates for the system administrator jobs that these films had contracted to supply the NSA.  In the rush to expand, little heed was paid to the 1996 warning that this hacking culture might provide a portal to anti-government hacktavist groups.  The NSA became so enamored with this new technology that it neglected the security implications of employing outsiders,  “All of us just fell in love with the ease and convenience and scale [of electronic storage]”, Michael Hayden, who headed the NSA at the time, said to the Wall Street Journal in 2015.  “So we decided to take things we used to keep if not in a safe, at least in our desk drawer, and put it up here [in a computer network], where it’s by definition more vulnerable.”      Making matters even worse, as has been previously discussed, the NSA stripped away much of the so-called stove-piping that insulated highly-sensitive data from the NSA’s other computer networks.  Here they were merely following the recommendations of the 9/11 Commission to make their data more accessible to other agencies concerned with potential terrorist attacks.  As a result, the inner sanctum of the NSA became more opened to its new army of civilian technicians.
The universe of independent contractors was governed by very different forces than that of intelligence services. By 2013, much of the job of managing the NSA’s classified computers had been handed over to five private companies: Booz Allen Hamilton, which handled the most highly secret work; and Dell SecureWorks, Microsoft, Raytheon, and IBM.   In many respects, these five 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. “It 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 impressive, its operating margin on these contracts had doubled.  As it turned out, it did not achieve these profits by increasing its core internal staff.  In 2008, it had 22,000 employees on its internal staff, and in 2013, it had roughly the same number on its internal staff. What it expanded was the number of outside contractors it employed.  It added in these five years, by one Wall Street analyst’s calculation, some 8,000 new external workers.  They were employed as system administrators, infrastructure analysts, computer security specialists and other “geek squad” jobs at the NSA and other government agencies.   Their main qualification was their prior secrecy clearances (which saved Booz Allen the expense of vetting them and also the loss income while waiting many months for a clearance.)   Snowden therefore was highly-desirable from an economic point of view for Booz Allen.  Even though he had no prior experience as an infrastructure analyst, and he had been detected being untruthful about his degree in computer sciences, he not only had a SCI secrecy clearance, but he was willing to take a cut in pay.   In keeping with the Booz Allen business plan, such a recruit would provide another cog in its profit machine.

Not only had the NSA outsourced much of its computer operations to private companies but the Clinton Administration in 1996 had privatized background checks for government employees requiring security clearances. The idea backed by Vice President Al Gore was to reduce the size of the Federal government by outsourcing investigating the backgrounds of millions of government applicants for jobs.  The task had been previously been performed by FBI but it was assumed that a profit-making business could do it faster and more efficiently. The private company named United States Investigative Services (USIS) was purchased in 2007 for $1.5 billion by Providence Equity Partners, a rapidly-expanding investment firm founded only four years earlier by graduates of Brown University and the Harvard Business School.  So like Booz Allen, USIS was backed by a hedge-fund determined to make money by systematically cutting the cost of a previously government service.    But such outsourcing had drawbacks. For one thing, unlike the FBI, USIS lacked the investigative clout to gain entry to other the CIA and other government agencies.  For example, when it did the background check on Snowden in 2011, it could not get access to his CIA file. As will be recalled, there was a ""derog” in his file that might have set off alarm bells. But because of its lack of access to the CIA, USIS did not learn about the derogatory reports in Snowden’s CIA file.  Nor did it learn that he had been threatened by an internal investigation of his alleged computer tampering in 2009.  The FBI, with its long standing liaisons with the CIA, might have learned this about Snowden if it had done his background check.  

   To be sure, the profit calculus might have worked better if it had been coupled with adequate oversight.  But without such oversight, it proved to be a barrier to extended investigations of applicants.  As it turned out, USIS closed cases and cleared applicants without completing an adequate investigation.  According to a US government suit filed in 2014, USIS had prematurely closed over 665,000 investigations in order to get more quickly paid for them.  Since the more cases it completes each month, the more money it receives from the government, the law suit alleged that USIS employees often “flushed,” or ended cases before completing a full investigation, to meet corporate-imposed quotas for getting bonuses.  One employee said in an email cited in the government’s complaint “Flushed everything like a dead goldfish.”   As a result, some of information specialists entering the NSA through the back door of outside contractors were not fully vetted.  (On August 20, 2015 USIS agreed to forfeit $30 million in fees to settle the law suit.)

   USIS was also opened to sophisticated hacking attacks by outsiders. For example, in August 2014, the Department of Homeland Security’s counterintelligence unit discovered such a massive and persistent breach in USIS that it shut down its entire exchange of data with USIS. The intrusion into USIS records in this case was attributed to hackers in China most likely linked to the Chinese intelligence service. Such massive intrusions dated back to 2011.  USIS’ lack of security in its website left a gaping hole through which outside parties, including Chinese and Russian hackers, could learn both the identity and background of information specialists applying for jobs at the NSA.

These private companies had one further security weakness. They did sufficiently protect the personal data of their off-premise employees working at the NSA. Consider, for example, the successful 2011 attack on the Booz Allen Hamilton servers.  The previously-mentioned hackers' group “Anonymous” took credit for it.  It not only breached the security of Booz Allen servers but cracked the   algorithms it used to protect its employees. It next injected so-called Trojan-horse viruses and other malicious codes on Booz Allen servers that allowed it to have future entry.  Presumably, if amateur hackers such as Anonymous could break into the computers of the NSA’s largest contractor, so could the state espionage services with far more advanced hacking tools such as those of Russia and China.     From these sites, an adversary intelligence service could obtain all the job applications and personal resumes submitted to contractors such as Booz Allen.  It could then compile a list of the candidates looking to work at the NSA.

These deficiencies in the private sector were compounded by the failure of security in the government’s own Office of Personnel Management. It used a computer system called E-QIP in which intelligence employees with security clearances, including outside contractors, updated their computerized records to maintain or upgrade their security clearances. For example, Snowden updated his clearance in 2011.  To do so, these employees constantly updated their financial and personal information. As it turned out, there was a major hole in the E-QIP system. It was repeatedly hacked since 2010 by unknown parties. In 2015, the US government told Congress that China was most likely responsible but Russia and other nations with sophisticated cyber services could have also participated in the hacking.  In any case, the records of over 19 million employees, including intelligence workers, became available to a hostile intelligence service.    This breach would allow hostile services a great deal of information about independent contractors working at the NSA. They could then use this data to follow the movements of movement of any of these intelligence workers they deemed of interest.

Despite all the potential flaws in it, the outsourcing system, ii seemed to work until 2013. It even featured a revolving door through which Booz Allen, for example, hired retiring executives from the intelligence services, such as ex-NSA director Michael McConnell, R. James Woolsey, a former director of CIA, and Lieutenant General James Clapper (ret), who later served as Director of National Intelligence. 

    The cozy relationship between the private firms and the NSA notwithstanding, the NSA leadership was unaware that outsourcing could create a security problem.  As far back as 2005, Michael Hayden, then the departing head of the NSA, had been warned of one such vulnerability in a memorandum written by a counter-intelligence officer at the NSA.  Like the earlier 1995 report by the threat officer, this memorandum noted the NSA had ceded responsibility for managing its secret systems to outsiders, and warned that the NSA’s reliance on them to manage its computers had opened a back-door into the NSA.  In addition, it warned that once an outside contractor managed to slip in through this back door, he could easily jump from one outsourcer to another.  This was what Snowden did when he moved from Dell to Booz Allen Hamilton in 2013. 

   Despite its security flaws, outsourcing provided a number of advantages to the NSA.  For one thing, it provided a means for circumventing the budget restrictions imposed by Congress on hiring new employees.  In addition, since private companies had less-rigid hiring standards, it greatly expanded the pool of young system administrators by tapping into computer cultures that would be antagonistic to working directly for the government.  Finally, it used less NSA resources. Since these information technologists were only temporary employees, they were not entitled to military pensions, medical leave and other benefits.  It was a system which effectively replaced military careerists with free-lancers.

The irony of the situation was that the NSA had surrounded its front doors with rings of barbwire, close-circuit cameras, and armed guards, but for reasons of economy, bureaucratic restrictions and convenience, it had left the back door of outsourcing opened to temporary employees of private companies.  To be sure, it might take some time for them to gain entry to its inner sanctum. “It was not a question of if but when one of the contractors would go rogue,” the former NSA executive who wrote the memorandum told me. Snowden answered that question in 2013 by stealing a vast number of files while working for both Dell and Booz Allen. Even more extraordinary than the theft itself was the reaction to it by the NSA.  It turned out that there was not cost of failure levied against the outside contractor, Booz Allen, which employed Snowden when he bypassed its security regime to steal the keys to the kingdom.  Even though the counterintelligence investigation showed Snowden stole documents from compartments to which he did not have access, the NSA did not penalize his employer, Booz Allen, even though the NSA was set back for decades according even to Michael McConnell, the vice chairman of Booz Allen.  Instead, its revenues and profits from government contracts markedly increase between 2013 and 2015. 

    Nor did the NSA alter its reliance on private contractors.  The Snowden breach notwithstanding, the back door to the NSA remained wide opened because by the time of Snowden outsourcing to private companies had become an all but irreplaceable part of the intelligence system in America.




CHAPTER TWENTY-ONE
The Russians Are Coming

""The breakup of the Soviet Union was the greatest geopolitical tragedy of the 20th century.""—Vladimir Putin  

   In the first invasion of a European country since the end of the Cold War, Russian military forces moved into the Crimea and other parts of Eastern Ukraine in February and March of 2014.  Unlike with previous Russian troop movements, such as those into Poland, Hungary, Czechoslovakia and Eastern Germany during the Cold War, the week-long massing of Russian elite troops and sophisticated equipment for the move into Ukraine almost totally evaded detection by the NSA’s  surveillance.  It failed to pick up tell-tale signs of the impending invasion.  Never before had the NSA’s multibillion dollar armada of sensors and other apparatus for intercepting signals missed such a massive military operation.   According to a report in the Wall Street Journal that cited Pentagon sources, Russian units had managed to hide all electronic traces of its elaborate preparations.  If so, after more than a half-century of attempted penetrations, Russia apparently had found a means of stymieing the interception capabilities of the NSA.     

       While American political scientists wrote optimistically about the end of history, Putin had his own ideas about restoring Russia’s power in the post-Cold War.  A formidable KGB officer before he became President of the Russian Federation in 2000, he made no secret that his goal was to prevent the United States from obtaining what he termed “global hegemony.” His logic was clear. He judged the break-up of the Soviet Union in 1991 to be as, as he put it, “a geopolitical tragedy.”   He argued that the break-up had provided the United States with the means to become the singular dominant power in the world.    He sought to prevent that feared outcome by moving aggressively to redress this loss of Russian power.  He upgraded Russia’s nuclear force, modernized Russia’s elite military units and greatly strengthened Russia’s relations with China.  The last measure was essential since China was Russia’s principle ally in opposing the extension of American dominance.  Yet, there was still an immense gap between it and the United States in communications intelligence.

        Since the break-up of the Soviet Union, the NSA had continued to build up its technologically capabilities while those of Russia, which teetered on the edge of collapse in the early 1990s.   But the NSA also had its problems. As previously mentioned, the NSA’s legal mandate had been limited by Congress to foreign interceptions (at least prior to 9/11 in 2001.)  As a result, it was required to separate out domestic from foreign surveillance, a massive process which was not only time-consuming but could generate dissidence within the ranks of American intelligence.  It also could not legally use its surveillance machinery to monitor the telephones and Internet activities of the tens of thousands of civilian contractors who ran its computer networks—at least not unless the FBI began an investigation into them.  Here the Russian intelligence services had a clear advantage. They had a lawful mandate to intercept any and all domestic communications, In fact, a compulsory surveillance system called by its Russian acronym SORM had been incorporated into Russian law in 1995. It requires the FSB and seven other Russian security agencies to monitor all forms of domestic communications including telephones (SORM 1), emails and other Internet activity (SORM-2), and computer data storage of billing information (SORM-3). Not only did Russia run a nationwide system of Internet-filtering in 2013, but it requires their telecommunication companies furnish to it worldwide data.
    The NSA also had to deal with many peripheral issues other than the activities of Russia and China.  It was charged with monitoring everything from nuclear proliferation in Iran, Pakistan, and North Korea, to potential jihadist threats everywhere in the world. The Russian intelligence service, on the other hand, could put its limited resources to work on redressing the gap with its main enemy: the United States. 

Nevertheless, Putin had to reckon with the reality in 2013 that Russia could not compete with the NSA in the business of intercepting communications.  And if the NSA could listen in on all the internal activities of its spy agencies and security regime, the ability of Putin to use covert means to achieve his other global ambitions would be impaired.  In the Cold Peace that replaced the Cold War, Russia had little hope of realizing these ambitions unless it could weaken the NSA’s iron-tight grip on global communications intelligence.  One way to remedy the imbalance between Russian intelligence and the NSA was via espionage. Here the SVR would be the instrument and the immediate objective would be to acquire the NSA’s lists of its sources in Russia. If successful, it would be a game changer.  
Such an ambitious penetration of the NSA, to be sure, was a tall order for Russian intelligence.  Most of its moles recruited in the NSA by the KGB, had been code clerks, guards, translators, and low-level analysts.  They provided documents about the NSA’s cipher-breaking, but they lacked access to these lists of the NSA’s sources and methods

These meager results did not inhibit Russian efforts.  Yet, for almost seven decades, ever since the inception of the NSA in 1952, the Russian Intelligence service had engaged in a covert war with the NSA.    The Russian intelligence service is, as far as is known, the only intelligence service in the world that ever succeeded in penetrating the NSA.  A number of NSA employees also defected to Moscow.  The history of this venerable enterprise is instructive.

  The first two defectors in the NSA’s history were William Martin and Bernon Mitchell. They were mathematicians working on the NSA’s decryption machines who went to Moscow via Cuba in 1960.  The Russian intelligence service, then called the KGB, went to great lengths to publicize their defections.  It even organized a 90-minute long press conference for them on September 6, 1960 at the Hall of Journalists and invited to it all the foreign correspondents in Moscow. Before television cameras, the defectors proceeded to denounce the NSA’s activities. Martin told how the NSA breached international laws by spying on Germany, Britain and other NATO allies.  Mitchell, for his part, suggested that the NSA’s practice of breaking international laws could ignite a nuclear war. Indeed, he justified their joint defection to Russia in heroic whistle-blowing terms, saying, ""We would attempt to crawl to the moon if we thought it would lessen the threat of an atomic war.""  The NSA historian assessed little damage had been done since the NSA quickly could change the codes they compromised. He noted: “The Communist spymasters would undoubtedly have preferred Martin and Mitchell to remain in place as moles, since their information was dated as of the moment they left NSA.” 

 The next NSA defector was Victor Norris Hamilton. He was a translator and analyst at the NSA.  He arrived in Moscow in 1962 and, like Mitchell and Martin, he claimed the status of a whistle-blower.  This time KGB provided a newspaper platform.   Writing in the Russian newspaper Izvestia, Hamilton revealed the extent of US spying on its allies in the Middle East.

   None of these three 1960s defectors revealed what, if any, NSA secret documents that they had compromised.  Nor did any of them ever return to the United States.  Martin changed his name to Vladimir Sokolodsky, married a Russian woman, and died in Mexico City on January 17, 1987.  Mitchell vanished from sight and was reported to have died in St. Petersburg on November 12, 2001. Hamilton, after telling Russian authorities stories about hearing voices in his head because of a NSA device implanted in his brain, was consigned to Special Psychiatric Hospital No. 5 outside of Moscow.   

      There were also KGB spies in the NSA who were caught or died before they could defect. One of them was Sgt. Jack Dunlap.  He was found dead of carbon monoxide poisoning in his garage on July 23, 1963. Although there was no note, his death was ruled an apparent suicide. NSA classified documents later was discovered in his house.  After that, NSA investigators unraveled his decade-long career as a KGB mole.   Dunlap had been recruited by the KGB in Turkey in 1952.  The standard KGB tool kit for recruitment was called MICE. It stood for Money, Ideology, Compromise and Exploitation. The KGB used the first element, money, to compromise Dunlap.  After he was compromised, it exploited him by getting him to steal NSA secrets.  He had access to such secrets because he became the personal driver first to Major General Garrison Coverdale, the chief of staff of the NSA.  After Coverdale retired, he next became the driver for his successor, General Thomas Wattlington.   These positions afforded him a secrecy clearance and, even more important, a ""no inspection"" status for the commanding General’s cars that he drove. This perk allowed him to leave the base with secret documents, have them photocopied by his KGB case officer, and then return them to the files at the NSA base before anyone else knew they were missing.  He also used, likely at the suggestion of the KGB case officers, his “no inspection” perk to offer other NSA employees a way of earning money. He would smuggle off the base any items of government property off the base that they took.  Once he had compromised them through thefts, he was in a position ask them for intelligence favors.  This NSA ring could not be fully investigated because of his untimely death.   Other than the packets of undelivered NSA documents found in his home, the investigation was never able to assess the total extent of the KGB penetration of NSA secrets.  (Angleton suspected Dunlap was murdered the KGB, in what he termed a surreptitiously assisted death, to prevent Dunlap from talking to investigators.) 

   The Russian intelligence services continued recruiting mercenary spies in the NSA for the duration of the Cold War. The KGB successes included Robert Lipka, a clerk at the NSA in the mid 1960s, who was caught in a sting operation by the FBI and sentenced to 18 years in a federal prison.  Ronald Pelton, an NSA analyst, was recruited after he retired from the NSA.  After he was betrayed by a KGB double agent in 1985, was sentenced to life imprisonment, Finally, there was David Sheldon Boone, a NSA code clerk, who between 1988 and 1992, provided the KGB with NSA documents in return for $60,000.  Boone, sentenced to 24 years in prison, was the last known KGB recruitment of the Cold War. 

During the Cold War, Russian Intelligence Service officers operated mainly under the cover of the embassies, consulates, United Nations delegations and other diplomatic missions of the Soviet Union. As “diplomats,” they were protected from arrest by the terms of the 1961 Vienna Convention on Diplomatic Relations.  Their diplomatic cover greatly limited, however, their universe for finding potential recruits outside of their universe of international meetings, diplomatic receptions, UN organizations, scientific conferences and cultural exchanges.  They therefore tended to recruit their counterparts in adversary services.

In this regard, the successful entrapment of Harold Nicholson in the 1990s is highly instructive.   From his impressive record, he seemed an unlikely candidate for recruitment. He had been a super-patriotic American who had served as a captain in Army intelligence before joining the CIA in 1980. In the CIA, he had an unblemished record as a career officer, serving as a station chief in Eastern Europe and then the deputy chief of operation in Malaysia in 1992.  Even though his career was on the rise and he was a dedicated anti-Communist, he became a target for SVR when he was assigned to the CIA’s elite Russian division.  Since the job of this division was to recruit Russian officials working abroad as diplomats, engineers and military officers, its operations brought its officers in close contact with SVR officers. Nicholson therefore was required to meet with Russian intelligence officers in Manila, Bucharest, Tokyo and Bangkok and “dangle” himself to the SVR by pretending disloyalty to the CIA. As part of these deception operations, he supplied the Russians with tidbits of CIA secrets, or “chickenfeed,” that had been approved by his superiors at the CIA.  What his CIA superiors did not fully take into account in this spy versus spy game was the SVR’s ability to manipulate, compromise, and convert a “dangle” to its own ends.  As it turned out, Russian intelligence had been assembling a psychological profile on Nicholson since the late 1980s, and found vulnerability: his resentment at the failure of his superiors to recognize his achievements in intelligence.  It played on this vulnerability to compromise him and then converted him to becoming its mole inside the CIA.  He worked for the SVR first in Asia then at the CIA headquarters at Langley, where he was given a management position.  Among other secret documents, he provided the SVR with the identities of CIA officers sent to the CIA’s special training school at Fort Peary, Virginia, which opened up the door for the SVR to make other potential recruitments. Meanwhile, it paid him $300,000 before he was finally arrested by the FBI in November 1996. (After his conviction for espionage, he was sentenced to 23 years in Federal prison.) The CIA post mortem on Nicholson, who was the highest-ranking CIA officer ever recruited (as far as is known), made clear that even a loyal American, with no intention of betraying the United States, could be entrapped in the spy game. 

 When it comes to recruiting moles in a larger universe, intelligence services operate much like highly-specialized corporate “headhunters,” as James Jesus Angleton described the process to me during the Cold War era. He was referring to the similar approach that corporate human resource divisions had with espionage agencies. Both “head hunt” by searching through a database of possible candidates for possible recruits to fill specific positions.  Both type organizations have at their disposal researchers to draw up rosters of potential recruits. Both sort through available data bases to determine which of the names on the list have attributes that might qualify, or disqualify, them for a recruitment pitch.  Both also collect personal data on each qualified candidate, including any indication of their ideological leaning, political; affiliations, financial standing, ambitions, and vanities, to help them make a tempting offer.  But there are two important differences.  First, unlike their counterparts in the private sectors, espionage headhunters ask their candidates not only to take on a new job with them but to keep their employment secret from their present employer. Second, they ask them to surreptitiously steal documents from him.   Since they are asking candidates to break the law, espionage services, unlike their corporate counterparts in headhunting, obviously need to initially hide from the candidate the dangerous nature of the work they will do.  Depending on the preferences of the targeted recruit, they might disguise the task as a heroic act, such as righting an injustice, exposing an illegal government activity, countering a regime of tyranny, or some other noble purpose.  This disguise is called in the parlance of the trade a “false flag.”  By using such a false flag, the SVR did not need to find candidate who were sympathy to Russia, or the Putin regime. In its long history dating back to the era of the Czars, Russian intelligence had perfected the technique of false flag recruitment through which it assumes an identity to fit the ideological bent of a potential recruit.   

      Russian intelligence was well-experienced with false flags.  It first used this technique following the Bolshevik revolution in 1918 to control dissidents both at home and abroad.  The centerpiece, as later analyzed by the CIA, was known as the “Trust” deception.     It began in August 1921 when a high-ranking official of the Communist regime in Russia named Aleksandr Yakushev, slipped away from a Soviet trade delegation in Estonia and sought out a leading anti-Communist exile he had known before the revolution in Russia.  He then told him that he represented a group of disillusioned officials in Russia that included key members of the secret police, army, and interior ministry.  Yakushev said that they all had come to the same conclusion: the Communist experiment in Russia had totally failed and needed to be replaced.  To effect this regime change, they had formed an underground organization code-named the “Trust” because the cover for their conspiratorial activities was the Moscow headquarters of the Municipal Credit Association, which was a trust company.  According to Yakushev’s account, it had had become by 1921 the equivalent of a de facto government,

     The exile leader in Estonia reported this astonishing news to British intelligence which, along with French and American intelligence, helped fund this newly-emerged anti-Communist group. Initially British intelligence had doubts about the bona fides of the Trust.  So did other Western intelligence services sponsoring exile groups. But they gradually accepted it after they received intelligence reports confirming its operations from many other sources, including Russian officials, diplomats, and military officers who claimed to have defected from the Soviet government in Moscow.  Since these reports all dove-tailed, they recognized the Trust as a real underground organization. 

     Once the Trust had been established in the minds of the Western intelligence services, it offered them as well as exile groups the services of its network of collaborators. These services included smuggling out dissidents, stealing secret documents, and disbursing money inside Russia to sympathizers.   Within a year, exile groups in Paris, Berlin, Vienna, and Helsinki were using the “Trust” to deliver arms and supplies to their partisans inside Russia. The Trust also furnished spies and exile leader’s fake passports which allowed them to sneak back into Russia to participate in clandestine missions.  It even undertook sabotage and assassination missions paid for by Western intelligence services. As they saw with their own eyes police stations blown up and political prisoners escape from prisons, these agents and dissidents came to further believe in the power of the Trust.

    By the mid-1920s, no fewer than eleven Western intelligence services had become almost completely dependent on the Trust for information about Russia.   They also sent millions of dollars into Russia via couriers to finance its activities.   

   But suddenly exile leaders working in Russia under the aegis of the Trust began to vanish. Then top western intelligence agents, such as Sydney Reilly and Boris Savinkov were arrested, and their networks were eliminated.  Instead of the Communist regime collapsing, as the Trust had predicted, it consolidated its power and wiped out all the dissident groups.     Finally, in 1929, the Trust was revealed by a defector to be a long-term false flag operation run by the Russian intelligence service. Even the Trust building, rather than being the cover for a subversive conspiracy, was the headquarters for the Russian secret police during this seven-year operation. The secret police had provided the documents fed to Western intelligence, briefed the agents who pretended to defect, published the dissident newspapers the Trust distributed, fabricated the passport it supplied exiles, blew up Russian buildings and staged jail breaks to make the deception more credible.  It also collected the money sent in by Western intelligence services, which more than paid for the entire deception.  Since it was running the show, it could offer those lured into the trap an opportunity to work for it as double-agents. The alternative, if they refused, was to face a firing squad.   

    Even after the “Trust” itself had been fully exposed, The Russian Intelligence Service continued to succeed with other false-flag deception, During the Cold War, for example, it set up a fake underground in Poland modeled on the Trust. It was called WIN. It also set up other false flag groups in Ukraine, Georgia, Lithuania, Albania, and Hungary.  It also had agents masquerade as members of the security services of Israel, South Africa, Germany, France and the US to recruit unwitting agents.  These deceptions became an integral part of the recruitments of the Russian intelligence services.

         Penetrating the NSA and getting access to files from its stove-piped computers was a far more difficult challenge for the SVR. Approaching CIA officers, such as Nicholson, was relatively easy because it was part of the CIA officer’s job to meet with their adversaries. NSA officers, on the other hand, did not engage in “dangles” or even attend diplomatic receptions.  They had not reason, other than a sinister one, to meet with a member of the Russian intelligence service.    Furthermore, unlike CIA officers who, like Nicholson, are often posted in neutral countries where they can be approached in a social context, NSA officers worked at well-guarded regional bases and are not part of the diplomatic life.   Since a known employee of a foreign diplomatic mission could not even approach a NSA officer without arousing suspicion, the SVR would need to use an intermediary, called an “access agent,” whose affiliations with it were not known to the FBI.  Such an operation would require establishing a network of illegals in the America, as the SVR did after Putin became President.  Even them, the intermediary would have to find a plausible pretext to approach the target with revealing his actual interest.

The emergence of computer networks in the 1990s greatly expanded the SVR’s recruiting horizon. It offered an opportunity to penetrate a new layer at the NSA employees: civilian technologists working under contract for the US government.  Many of these civilians at the NSA, especially the younger ones, had been drawn from the hacking and game-playing culture. Some had even taken courses abroad on hacking techniques. They presented the SVR was inviting targets for recruitment.   As was previously mentioned, Russian intelligence had considerable experience in Germany with hacktavists who tended to be anarchists. There were also supporters of the Libertarian movement. The common denominator was often their resentment expressed in their postings s of the United States and its allies attempting to limit the downloading of copy-righted music, movies and software on the Internet, all of which went under the rubric of “freedom of the Internet.”  They also vocally objected to the NSA using built-in backdoors in their software to read their encrypted messages.  They were not difficult to find on the Internet.  The donors to Ron Paul’s Libertarian election campaign (including Snowden) were a matter of public record, for example.

Even if there was no shortage of hacktavists who believed the surveillance of the Internet by the NSA was an evil worth fighting, the SVR still had to find a plausible way of approaching members of this counterculture without offending them.  Clearly, the SVR could no longer use out- of-date Communist and anti-capitalist ideology as a lure.  Russia was far more authoritarian than the U.S, when it came to the Internet.  One viable alternative for the SVR was custom-tailoring false flags to appeal to hacktavists. 

    For this purpose the Internet provided a near perfect realm for false flags. Since it is a place where true identities cannot easily be verified, intelligence services could employ a protean kit of disguises to assume false identities to entice potential dissidents into communicating with them.  The KGB’s earlier efforts to use hacktavist groups in Germany had produced little, if any, intelligence because of the “stove-piping” the NSA used to isolate its computers from networks 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 time when he was stealing NSA secrets in February 2013, went to great lengths to impress on Poitras the need for operational security about his contacts with her, but that injunction did not prevent her from telling at least five people about her source, including Micah Lee, the Berkeley-based technology operative for the Freedom of the Press Foundation; Jacob Appelbaum, the TOR proselytizer; Ben Wizner, the ACLU lawyer; Barton Gellman; and Glenn Greenwald.   “It is not me that can’t keep a secret, “Abraham Lincoln joked. “It’s the people I tell it that can’t.”    In the same vein, Poitras could hardly rely on these five confidants not to tell her (and Snowden’s) to others.  Hours after he was told, Greenwald told his lover David Miranda about the source in great detail. He even asked him to evaluate the source’s bona fides for him. Gellman, for his part, raised the matter with a former high official at the Justice Department. 

    Moreover, as the intelligence world knew, Poitras was herself a veritable lightning rod for attracting ex-NSA employees who objected to some of its surveillance programs. In 2012, her filming of NSA insiders, including Binney and Drake, would make her communications of interest to any intelligence services that wanted to keep tabs on possible NSA dissidents.

   Nor was Snowden himself overly discreet.  It will be recalled that he had also advertised his TOR-sponsored crypto party activities over the Internet, and supplied Runa Sandvik, who worked with Appelbaum, his true name and address in Hawaii. Sandvik had no reason not to share the identity of her co-presenter with others in the TOR movement. Snowden also had his girl friend make a video of his presentation, as will be recalled.  He also bragged about operating the largest TOR outlets in Hawaii.  Even if his TOR software provided him a measure of anonymity, it was not beyond the ability of the world-class cyber services to crack it.

Under Putin, Russia had built one of the leading cyber espionage services in the world. According to a 2009 NSA analysis of Russian capabilities, which was obtained by the New York Times in 2013, Russia’s highly-sophisticated tools for cyber-espionage were superior to those of China or any other adversary nation.  For example, investigators from FireEye, a well-regarded Silicon Valley security firm, found that in 2007, Russian hackers had developed a highly- sophisticated virus that could bypass the security measures of the servers of both the US government and its private contractors. According to one computer security expert, the virus had made protected Internet websites “sitting ducks” for these Russian sophisticated hackers. The cryptographer Bruce Schneier, a leading specialist in computer security, explained, “It is next to impossible to maintain privacy and anonymity against a well-funded government adversary.”

Nor has the Russian cyber service has made a secret out of the fact that it targets TOR software. It even offered a cash prize to anyone in the hacking community who could break TOR.   Prior to 2013, according to cyber security experts, it spent over a decade building cyber tools aimed at unraveling the TOR networks used by hacktavists, criminal enterprises, political dissidents and rival intelligence operatives.  To this end, it reportedly attempted to map out computers that served as major TOR exit nodes (such as the one Snowden operated in 2012 near a NSA regional base in Hawaii.) It also reportedly attached the equivalent of “electronic ink” to messages which would allow it to trace the path of messages that passed through them. Through this technology, it could tag and follow TOR users as their communications travelled across the Internet. It could even borrow their Internet identities.  To be sure, .the NSA also had such a capability. The Silk Road founder Ross Ulbricht discovered to his distress that his TOR software did not make his computer server in Iceland invisible.  According to a former top official in the Justice Department, the NSA was able to locate it by cracking the TOR software, (Ulbricht is currently serving a life prison sentence for his Silk Road activities.).  Unlike adversary services, however, the NSA needs a warrant to investigate US citizens who use TOR. 

 Even the NSA is not immune from an attack of its own computers.  CIA deputy director Morell, who served on the committee evaluating the NSA’s vulnerability in the Snowden affair after retiring from the CIA in 2013, wrote in his 2015 book “The Great War of our Times,” that many financial institutions have “better cyber security than the NSA.”    If nothing else, the Internet helped make the activities of US intelligence workers visible to the SVR.

Even if the SVR theoretically had opportunities, it still had to find at least one disgruntled civilian contractor inside in the NSA who had access to the sealed-off computer networks. Did it find its man? If so, was it before or after Snowden arrived in Hong Kong with the Level 3 NSA files?






CHAPTER TWENTY-TWO
The Chinese Puzzle

“The first [false assumption] is that China is an enemy of the United States. It's not.”

                  •  Edward Snowden in Hong Kong  

     On August 11, 2014, in the Atlantic Ocean, an even took place of enormous concern to U.S. intelligence.   A Chinese Jin Class Submarine launched an Intercontinental ballistic missile. The missile released 12 independently-targeted re-entry vehicles, each simulating a nuclear warhead.  Some 4400 miles away, in China’s test range in the Xinjiang desert, each of the 12 simulated nuclear warheads then hit their targets within a 12 inch radius.    The test firing, which was closely monitored by the NSA, was a strategic game changer.  It meant that a single Jin Class submarine, which carried 12 such missiles and 144 nuclear warheads, could destroy every city of strategic importance in the United States.  U.S intelligence further reported at China would soon fully stealth its newer submarines against detection, “giving China its first credible sea-based nuclear deterrent” against an American attack.
   By 2015, as its test in the Atlantic had foreshadowed, China had armed its land-based as well as sea-based missiles with multiple independently targeted warheads. Combined with the state--of-the-art technology it had licensed from Russia, its systematic use of espionage made it possible for China to even build its own stealth fighters. 

 Unlike the U.S, China did not achieve this remarkable capability to launch independently-targeted miniaturized nuclear weapons and stealth them by investing hundreds of billions of dollars in developing them.  It obtained this technology mainly through espionage.  The history of this enterprise, though unsung, is stunning. The Chinese intelligence service stole a large part, if not all of America’s secret technology for weaponizing nuclear bombs during the 1980s and 1990s. The theft was so massive that in 1998 the House of Representatives of the US Congress set up a special bipartisan investigative unit called the “Select Committee on National Security and Military and Commercial Concerns with the People's Republic of China.”   Based on the intelligence amassed by the NSA, CIA and other intelligence services, it concluded in its report that the Chinese intelligence service had obtained both by electronic and conventional spying the warhead design of America’s seven most advance thermonuclear weapons. Moreover, it found that China’s espionage successes allowed China to so accelerate the design, development and testing of its own nuclear weapons that the new generation of Chinese weapons would be “comparable in effectiveness to the weapons used by the United States.”  Further, it found that these thefts of nuclear secrets had not been isolated or opportunistic incidents.  The Committee reported to Congress that they were the “results of decades of intelligence operations against U.S. weapons laboratories.”  The Chinese intelligence service further obtained from private US defense contractors through cyber espionage important elements of the stealth technology used in both advanced planes and submarines.  China shared (or exchanged) the fruits of its espionage on nuclear warhead design with North Korea, Pakistan, Iran and Russia. 

Despite its formidable intelligence coups in the US, the Chinese intelligence service managed to remain among the most elusive of America’s intelligence adversaries. Its espionage organizations are hidden behind layers of bureaucracy in the Ministry of State Security, Chinese Communist party structures, and the second, third and fourth department of the General Staff of the People’s Liberation Army.  Much of its cyber espionage units are concealed on the campuses of its universities.   Its hierarchy, or order of battle, is also obscure. Few traces have been uncovered of any conventional espionage networks in the United States and no major Chinese spy has ever been arrested.  Part of the reason that Chinese espionage has proved so elusive to the eyes of western counter-intelligence, was that, unlike Russia, it did not ordinarily rely on intelligence officers in its embassies to recruit penetration agents to steal secrets.  It did not even have an embassy in the United States during most of the Cold War.  Instead, its services specialize it assembly mosaics of intelligence assembled from a wide variety of sources including non-classified documents, returning graduate students, scientific conferences, exchanges with allies, and a vast operation of  hacking into computers, or cyber- espionage.     

Cyber-espionage is indeed a vast enterprise in China.  Graduating over 150,000 computer science engineers, it had no shortage of personnel.  It also had developed the cyber tool kit to gain access to the computer networks of US government contractors and consultants in the private sector and government agencies, planting “sleeper"" bugs in net-worked computers.  Like human “sleeper” agents, these hidden programs can be activated when needed for operational purposes.  Chinese controllers can retrieve emails, documents and turn on the cameras and microphones of personal computers, tablets and smart phones.  By 2007, Paul Strassmann, a top US defense expert on cyber-espionage, reported that China had inserted “zombie” programs in some 700,000 computers in the US which could be used to mount cyber attack to retrieve emails from other computers.  The Chinese service also reportedly penetrated companies that provide Internet services, including Google Yahoo, Symantec, and Adobe, which allowed it to track emails and enclosures of individuals.  With such an invisible army of zombie computers, it is not entirely surprising that China finds little need to employ human: sleeper” agents.

  Chinese cyber-specialists used this capability to hack into computers of outside contractors, including Booz Allen and other companies that supplied technologists to the NSA.  It also had notable successes in obtaining the dossiers of US employees and independent contractors at the NSA, CIA and other intelligence services. Its intrusions, as previously noted, into computer network at the Office of Personnel Management traced back to 2009.  Eventually, by 2015, according to US estimates, the cyber attack had harvested over twenty million personnel files of past and present Federal government employees. In addition, it reaped in over 14 million background checks of intelligence workers done by the Federal Investigative Service. All the intelligence workers with a SCI clearance, such as Snowden, were required to provide in these forms information about all their foreign acquaintance, including any non-U.S. officials that the applicant knew or had relationships with in the past. They also had to list their foreign travel, family members, police encounters, mental health, and credit history.  For good measure, Chinese hackers obtained the confidential medical histories of government employees by hacking into the computers of Anthem and other giant heath care companies.   If the Chinese intelligence services consolidated the fruits of these hacking attacks it would have a searchable database of almost everyone working in the American defense and intelligence complex.   From this database, it could track individuals with high security clearances vulnerable to being bribed, blackmailed or tricked into cooperating.   No one doubted that the Chinese would use their cyber capabilities to take advantage of weaknesses in foreign computer systems. General Hayden said of the massive theft of intelligence personnel records: “those records are a legitimate foreign intelligence target.”  He added, “If I, as director of the NSA or CIA would have had the opportunity to grab the equivalent in the Chinese system, I would not have thought twice.”  If that opportunity did not arise for the NSA or CIA during Hayden’s tenure, it may have been because no insider in the Chinese intelligence services provided US intelligence with a road map to it.  

     Cyber espionage was not the Chinese Intelligence Service only powerful resource in the intelligence war.  To get both electronic intelligence and human intelligence about the United States, China also had a highly-productive intelligence sharing treaty with Russia.   It was signed in 1992 after the Soviet Union was dissolved.  Although the terms of this exchange remain secret, defectors from the Russian KGB and SVR reported that Chinese intelligence received from Russia a continuous stream of communication intelligence about the US in the late twentieth and early twenty-first centuries.  Russia’s intelligence resources during this period were formidable.  They included geo-synchronous satellites, listening stations in Cuba, sleeper agents and embassy-based spy networks. Presumably, this relationship further deepened under President Putin’s regime.  Putin asserted in his speeches in 2014 that Russia and China continue to share a key strategic objective: countering the United States’ domination of international relations, or what Putin terms, “a unipolar world order.”   China’s President Xi Jinping expressed a very similar view, saying in 2014 in a thinly-veiled reference to the United States, stating that any American attempt to “monopolize” international affairs will not succeed.


 Since the end of the Cold War, Russia has been the major supplier of almost all of China’s modern weaponry.  It licenses for manufacture in China avionics, air defense systems, missile launchers, stealth technology, and submarine warfare equipment.  To make these arms effective, it also provides China with up-to-date intelligence about the ability of the United States and its allies to counter them.  While such intelligence cooperation may be limited by the reality that China and Russia still compete in some areas, there is no reason to assume that they do not share the fruits of their cyber and conventional espionage against the NSA.  After all, the NSA works to intercept the military and political secrets of both these allies.   Moreover, NSA secrets might are a form of currency in the global intelligence war. 

Snowden’s trip to Hong Kong in May 2013 made the Chinese intelligence service, willy-nilly, a potential player in game.  Hong Kong is a part of China, even if independently administrated, and, as such, China has full responsibility for its national security and foreign affairs. This mandate includes monitoring foreign intelligence operatives. The Chinese intelligence service accordingly runs much of the local intelligence apparatus in Hong Kong.  For this purpose, it maintains its largest intelligence base outside of mainland China in Hong Kong.  Its officers are stationed officially in the Prince of Wales skyscraper in central Hong Kong and unofficially maintain informers in Hong Kong’s police, governing authority, airport administration and at other levers of power in Hong Kong.  It checks the computerized visitors entering Hong Kong, and has the capability to ferret names that match those in the immense date base its global cyber espionage has amassed. When it detects the entry of any person of possible intelligence interest, it has the opportunity of using its sophisticated array of cyber tools to remotely steal data from those individuals.  Such remote surveillance was so effective in 2013 that the US State Department had instructed all its personnel in Hong Kong to avoid using their Iphones, Androids, Blackberries and smart phones when travelling to Hong Kong or China.  Instead, it has supplied them with specially-altered phones that disable location tracking and have a remotely-activated switch to completely cut off power to it circuitry. No one in the intelligence community doubts the prudence of taking such precautions in the realm of China. 

Once Hong Kong had served as a window into China for Western intelligence, but in the first decade of the 21st century, the Chinese intelligence service had achieved such a pervasive presence in Hong Kong, and such ubiquitous electronic coverage of diplomats and other foreigners even suspected of involvement in foreign intelligence work, that the CIA and British intelligence found it almost as difficult to operate in Hong Kong as in mainland China.  The CIA as well as the DIA kept a few officers there, but, as a former CIA station chief told me in September 2013, that for the purposes of intelligence operations, the CIA “regards Hong Kong as hostile territory.”

   Snowden apparently knew the limits of CIA operations in Hong Kong. It indeed provided him with an envelope of protection.  He told Greenwald, as will be recalled, that he was counting on the Chinese presence in Hong Kong to deter the CIA from intruding on their meetings. 

    Snowden also must have realized that he was entering the Chinese sphere of influence when he flew to Hong Kong in May 2013.  Yet, he took with him level 3 NSA secrets which he could assume would be of great interest to China.  In fact, he advertised this fact in his interview with the South China Post, a newspaper controlled in 2013 by mainland China.   Whatever he may have assumed about the inability of the CIA to stop him in Hong Kong, he had no reason to assume that Chinese intelligence service would relegate itself to purely passive role, especially when secret NSA’s documents were in a hotel room in Hong Kong.   Snowden may have esteemed himself to be an independent actor playing Prometheus on a global stage provided by YouTube, but the Chinese may have viewed him as nothing more as another pawn in the Game of Nations.



CHAPTER TWENTY-THREE

The Pawn in the Game

“The whole key is, the state department’s the one who put me in Russia.”
                                          --Edward Snowden in Moscow, 2014 


    When Snowden arrived in Hong Kong on May 20, 2013 he became a person on interest to any parties who knew, or later learned, about his coup.  How could they not be interested this intelligence defector?  He had brought with him enough US government secrets to, as he put it, make NSA “sources go dark that were previously productive”.     Snowden also fully realized the lethal situation that his possession of NSA documents put him.  He was after his arrival in Hong Kong, as he put it, the NSA’s “single point” of a potential catastrophic intelligence failure.  He also stated the consequences if caught, telling Poitras:   “The US Intel community will certainly kill you if they think you are the single point of failure.”
The reason that Snowden considered himself of such importance to be the “single point of failure” was the pay load of secrets he was carrying.  He possessed thumb drives full of files so critical to the NSA that in the wrong hands they could cause, in his view, many of the key sources of the entire US communication intelligence service to “go dark.” Not only was he carrying these files, but he had willingly bought them inside the territory of China; a place in which America’s main adversaries, China and Russia, could operate freely.  Whoever he sought to deal with in Hong Kong, or whatever idealistic axe he intended to grind there, he could not expect his position as a “single point of failure”—a position he advertised in his email correspondence—would not attract the attention of other players in the game of nations.  
The enormous power of the NSA rested on a frail thread: its ability to keep secret from its foes its sources and methods.  General Alexander could call the NSA’s communication intelligence “the queen on the chessboard,” but, like the queen in a chess game, it could be captured by a well-placed pawn. In this case, the pawn, which had it in his power to expose the NSA’s critical sources and methods, would also be considered fair game for capture by an adversary.  And both the Chinese and Russian cyber services, whether working alone or together, had the technological means in China to tap into Snowden’s computer.  They also had an interest in learning how the NSA was listening in on their secret communications.  If any further incentive was needed, an intelligence service could barter them to other countries whose signals were also intercepted by the NSA.  Michael Morell, the CIA’s  Deputy Director at the time, said in his book “The Great War of Our Times” that just a few selected parts of Snowden’s cache could be traded to the intelligence services of Iran and North Korea. 
Snowden, realizing that he now represented that weak link in the architecture of America’s intelligence system, made a move from the U.S. that greatly increased the stakes.  He entered what he knew to be hostile intelligence territory with his stash of stolen secrets.  He did so, as he explained to Greenwald in Hong Kong, to reduce the possibility of an American countermove against him or his associates in the media. But while succeeding in limiting the reach of the CIA, FBI, NSA and their allies, he willy-nilly put himself under the protection of America’s adversary, the Chinese security services.  In light of the counterintelligence training he had received at the CIA, he could not be unaware his move into Chinese-controlled territory would not prevent adversary services, which also had the home court advantage, from stepping in.   He also gave adversaries an ample, if not wholly irresistible reason, to enter the game by saying that he had access to NSA’s sources in China.
How could they resist such a prize?

As confidant as Snowden may have been that he was in control, the CIA believed that confidence was misinformed. CIA Deputy Director Morell said, after reviewing the case on a panel appointed by President Obama:  “Snowden thinks he is smart, but he was never in a position in his previous jobs to fully understand the immense capabilities of our Russian and Chinese counterparts.”  He could adopt a self-confident tone in his post-mortem conversations with journalists in Moscow, but he had no means to block the efforts of the Chinese or Russian services in Hong Kong.    These intelligence services had no restrictions on their actions. For example, the Chinese intelligence service could have spotted him on his arrival in Hong Kong simply by cross- checking its aforementioned database of US intelligence workers who had applied for a renewed security clearance in the past three years.  It could have pinpointed his whereabouts through its informant network in the Hong Kong Police and the security staffs of hotels.  Snowden’s mysterious “carer” would not be immune from detection by that network.     Russia, China’s longtime intelligence ally, would not even need to go to such lengths since, as Putin gloatingly confirmed, he contacted its diplomats in Hong Kong. The Russian intelligence service would them swing into action while Russian “diplomats” entered into talks with him. The Russians would also glean from Snowden’s request for asylum that Hong Kong was only a temporary stopover for him, 
“The purpose of my [Hong Kong} mission was to get the information to journalists,” he would tell the Guardian after he was safely ensconced in Moscow.  After that brief mission, he was “done” in Hong Kong. Where he planned to go next, mainland China was only a taxi ride away and there was a direct flight to Moscow.

     Snowden does not say how many days he planned to be in Hong Kong, but he indicated that he was working under a tight clock. The time pressure resulted in him emailing Gellman at the Washington Post an ultimatum on May 24, 2013: either Gellman publish the selected documents in the Washington Post within 72 hours or he would lose the exclusive scoop.  He wanted the story to break on May 27, 2013 without his true identity (which Gellman did not know). Hid identity would be known to a foreign mission in Hong Kong if Gellman acceded to his demands.  Since as previously mentioned, Gellman’s story would enclose an encoded signal he planned to use as proof of his bona fides.  So even before the Guardian reporters had agreed to come to Hong Kong, he had plans to deal with a foreign mission.  But he planned to keep his name out of it.  Instead, he insisted Gellman include in it a coded signal in it.  When the Washington Post turned down his ultimatum, he needed a different plan.
     Time was running out if he was to break the story and leave Hong Kong before the NSA realized he was missing.   At best, he was safe until June 3rd.  That was when he was supposed to return from his two-week medical leave for getting treatment for epilepsy. But if he failed to show up in Hawaii on June 3rd, alarm bells at the NSA would go off.  It would not take long to find him. Airline record would show that he had flown to Hong Kong.   The NSA security staff would ask questions, as Snowden explained from Moscow: “This guy isn’t where he says he’s supposed to be. He’s supposed to be getting medical treatment. Why the hell is he in Hong Kong?”   It would then determine he had lied about his medical treatment, and it would immediate go after him with the full power of the U.S. government. 
 The day after his attempt to pressure the Washington Post, he asked Greenwald to drop everything he was doing and immediately fly to Hong Kong.   He had, it will be recalled, already sent Poitras an enciphered file, and told her she would get the key once she and Greenwald followed his instructions. Presumably, he wanted Greenwald’s story and the video done in Hong Kong before he became a suspect.  If they had immediately flown to Hong Kong that May, it still might have left Snowden an escape window. 

As Snowden found out, when dealing with journalists, things do not always go as planned. Greenwald, although agreeing to come to Hong Kong, waited in New York for two days while the Guardian editors completed their due diligence.  Poitras waited with him.   As a result of this delay, Snowden’s clock ran out.  Greenwald and Poitras did not arrive at his hotel in Hong Kong until June 3rd.  It would be only hours before he became a prime suspect. “It was a nervous period,” Snowden recalled. Although he bravely told the Guardian, “there was no risk of compromise/” That claim was, at best, wishful thinking on his part.

By this time, he was no longer invisible.  Not only had he registered at the hotel under his true name and provided his credit card, but he was he in contact with three high-profile journalists, two well-known hacktavists and, as he suggested to Gellman, a foreign diplomatic mission.  Even if Snowden had failed to persuade the Washington Post to publish a coded identifier, the mission’s interest would likely be piqued when the newspaper published it first story on June 5th.  Even if adversary intelligence services had missed Snowden and his archive of NSA documents earlier in May,  they would not neglect the availability of such a prize after the NSA stories broke in the Guardian and Washington Post on June 5th. Greenwald even went on TV in Hong Kong, revealing to every interested intelligence service, in the unlikely event that that they did not already know, that a defector from the NSA was in Hong Kong.


     Now there was no point in keeping his identity a secret.  On June 9th  Poitras released the famous video showing Snowden a secret  NSA documents,  At this point, Snowden shone so brightly as a beacon that every player in the in the intelligence game would realize that Snowden was a pawn to be captured. 


     Snowden still was able to fog over his travel plans, at least in the media, by telling reporters that he intended to remain in Hong Kong and fight extradition in court, but certainly the Russian officials whom he contacted knew he had other plans.  They had even relayed his request to go to Russia to Putin. His movements were also no secret to sophisticated intelligence services.  In an era in Hong Kong ii which cell phones emit their GPS location every 3 seconds and CCTV cameras scan many street intersections, it is not easy to conceal one’s whereabouts.  In Snowden’s case, his photograph was constantly on television, posters and giant billboards.  Even if he threw away his own phone, his retinue of lawyers and helpers could be tracked with ease.


  China, who’s President, Xi Jinping was meeting President Obama for the first time in Rancho Mirage, California on June 9th, would have certainly been keenly interested in the unfolding Snowden affair.  After all, Obama had publically put on his agenda that week calling Xi to task for Chinese cyber espionage.  Such a charge was undermined by Snowden’s globally-publicized accusation that the United States was engaged in massive cyber espionage.  In any event, as US intelligence verified, China had, almost immediately after the release of the video, instituted a full court press of Snowden in Hong Kong.  Its security apparatus presumably had the means to monitor his room as well as those of Poitras and Greenwald.   From that moment on, it is not likely that any communication or movement, Snowden made during his next 18 days in Hong Kong would escape its scrutiny.  

The U.Ss also had the ability to track Snowden’s movements via the cell phones of his lawyers and other confederates after he surfaced.    This tracking could all be done by the NSA.  What the U.S. lacked was any practical means to capture a high-profile intelligence defector in a city that was part of China.  By this time, US intelligence had established that Chinese and Hong Kong security services were monitoring Snowden’s every move.  This left few options in the game for the U.S.  “I’m not going to be scrambling jets to get a 29-year-old hacker,” President Obama said on June 27, 2013.



  The real prize, in any case, was not Snowden himself but the NSA’s secrets documents that he had with him in Hong Kong.  When Snowden was observed entering the Russian consulate, the game was all but over.  US diplomats could protest over back channels to Moscow, as they did, but, with a trove of NSA secrets at stake, there was little expectation that they stop the Russians.  Two days later, the ”single point of failure,” as Snowden described himself, was on his way to Russia, where he would be subject to Moscow’s rules.

When a victory is obtained in a major sports event, such as the world cup, it is celebrated with victory dances, parties and ticker-tape parades. The opposite is true in the Game of Nation. An intelligence victory involving secret documents, even if it cannot be entirely hidden, is kept veiled, as far as is possible, to increase the value of the coup.     “The final move in any sophisticated intelligence game,” Angleton told me in relation to espionage intelligence coup, is “obscuring a success.”


Following Angleton’s precept the Russian or Chinese intelligence services, if they had a role in acquiring the product of the self-described “single point of failure,” would work to cover their tracks in the affair even before the Aeroflot plane carrying Snowden touched down at Sheremetyevo International Airport on June 23, 2013.    If any false flag operations had been used to trick, mislead, or otherwise induce Snowden to come to Hong Kong, they would be disbanded.  If any safe housed had been used to quarter Snowden in his first 11 days in Hong Kong, they would be shut down.  If any operatives had been used in Hawaii to guide or assist Snowden, they would be put back into the sleep mode.  If any tell-tale traces had been left in chat rooms or social media, they would be systematically deleted.    Even more important to the ultimate success of such a communications intelligence coup, measures would be taken to conceal the extent of the damage done by the “single point of failure” by not precipitously closing down compromised sources.   Snowden might believe that the power of the information he held was so great that, if disclosed by him, all the NSA’s sources would immediately go dark in Russia and China, but Russia might not wish to provide such clarity to its adversaries. An intelligence service need not close down channels it discovers are compromised by an adversary.  Instead it can elect to continue to use them and furnish through them bits of sensitive information to advance its own national interest. The real danger here was not that the NSA’s “lights” would dramatically be extinguished but that all the future messages illuminated by those lights would be less reliable sources of intelligence.   The Game of Nations is, after all, merely a competition among adversaries to gain advantages by the surreptitious exchange of both twisted and straight information.  When the NSA asserted in the summer of 2013 that over one million documents, it was recognizing the most massive failure in its 60 year history. Not only NSA secrets, but secret files from the CIA, the British GCHQ, and America’s cyber military commands, had been compromised.  It was, as Sir David Omand, the head of the British GCHQ described it, a ""huge, strategic setback"" for the West. The genie could not be put back in the bottle as there is not a reset button in this game. The best that the NSA could do now was damage control while its adversaries took full advantage of the setback.  Several hundred  US and British intelligence officers worked around the clock in Washington DC, Fort Meade, Maryland and Cheltenham, England for months on end to determine if which parts could be still salvaged from what had been until the Snowden breach the most powerful communications intelligence system in the world.


Adding insult to injury, Snowden, speaking from his new perch in Moscow, told applauding audience that the entire purpose of the U.S. exercise, including deliberately “trapping” him in Moscow, was to “demonize” him.  For Russia, it was a textbook move. By providing Snowden with this platform to rail against the surveillance practices of his adversaries, Putin laid claim to the moral high ground in the Game of Nations.


What remains missing from this picture is Snowden's motive in requesting documents from other foreign intelligence services, such as the GCHQ, and copying lists of NSA sources.  It is difficult to believe that his motive was conventional whistle-blowing since these documents were not among those l he gave to journalists in Hong Kong.  It will be recalled that his legal representative in Moscow, Anatoly Kucherena, said that he taken to Russia, and had access to, NSA documents that he had not given to journalists.  He had gone effort in his final weeks at the NSA to take documents that any adversary service would prize. Copying them was, as we have seen, part of his well-calculated plan.  Did he use them, as he used the documents he gave to Poitras, Greenwald and Gellman, as leverage in his transformation?  Since the role that Moscow may have played in Snowden’s remarkable defection, while less visible than that of the movie-makers, journalists and activist, cannot be ignored in this puzzle.  Since it requires a closer examination of the machinations that brought Snowden to Russia, I made arrangements to visit Moscow in October 2015.











             PART FIVE


 WALKING THE CAT BACK




Deception is a state of mind—and the mind of the state
               --James Jesus Angleton






 Chronology 3
Snowden in Russia

               2013

June 23         Snowden arrives from Hong Kong at Sheremetyevo International                                           Airport on Aeroflot flight SU213 at 5:15 PM local time.

                     Sarah Harrison arrives from Hong Kong at Sheremetyevo International                                           Airport on Aeroflot flight SU213 at 5:15 PM local time.

 July 12            Snowden, in his first public appearance in Russia, holds press                                             conference at Sheremetyevo International Airport,

July 14             Snowden first meets Anatoly Kucherena, his lawyer-to-be

August 1          Snowden’s application for asylum is granted for one year.

September 23 Kucherena states Snowden has access to NSA documents in Russia

October 2         Ray McGovern, Thomas Drake, Coleen Rowley and

Jesselyn Radack meets with Snowden and Harrison.

October 10      Snowden aided by ACLU legal team put together by Ben Wizner

October 16      Snowden interviewed, via Internet, by James Risen (NY Times)

November 1     Snowden joins the board of the Freedom of the Press Foundation

November 3     Sarah Harrison departs from Moscow.

December 21   Snowden meets with Gellman; his first in person interview in Moscow.

2014

January 2         Snowden meets in Moscow ACLU lawyers Ben Wizner and Anthony Romero 

August 1           Snowden’s residence permit is renewed for three years





CHAPTER TWENTY-FOUR
Dinner with Oliver Stone

“I had to ‘tune to [Snowden’s] wavelength’ and try to balance between the rational and intuitive perception of his world. Having experienced these incredible sensations, I realized that I had to write about them, but only in the form of a novel that would not claim any sophisticated philosophical conclusions.""

           —Anatoly Kucherena




Before flying to Moscow, I arranged to have dinner with Oliver Stone at Parma, an Italian restaurant on the upper east side of New York.  I had greatly respected Stone ability as a film director after watching him work in Wall Street II: Money Never Sleeps, a film in which I had a cameo role.  I also had debated Stone about the historic accuracy of his 1990 movie JFK at Town Hall in New York.
  When we dined, he had just written, produced, written and directed “Snowden,” an independently-financed film depicting Snowden, as put, as “one of the great heroes of the 21st century.”  In preparing for it, he had not only seen Snowden in 2013 and 2014, but he had had a six-hour meeting with Putin.  

The reason I wanted to talk to him was not to learn about the film but to find about how he had made to gain access to Snowden in Moscow.   I already knew from the documents taken from Sony Pictures Entertainment allegedly by North Korea that Stone had paid the Guardian $700,000 for the film rights to “The Snowden File,” a book written by Luke Harding.  This was not a surprising sum since it provided a basis for movie which describes Snowden’s coup. But these documents also revealed that Stone had paid Anatoly Kucherena, Snowden’s legal representative in Moscow, $1 million dollars, supposedly for the rights to his novel Time of the Octopus.   Even by Hollywood standards one million dollars was an extraordinary sum to pay for a yet-to-be published work of Russian fiction, and it was especially striking since Stone was making a fact-based movie using the actual names of the characters.   “Is your script based on Kucherena’s “Time of the Octopus?” I asked.

“No,” Stone replied, “I haven’t used it.”  He said that the payment was for what he termed “total access.”  He explained that Barbara Broccoli and Michael G. Wilson, the producers of the James Bond franchise, had optioned Greenwald’s book “No Place to Hide”  to make into a movie about Snowden for Sony.  Stone said that the million dollar deal with Kucherena effectively guaranteed that any competing project would not have access to Snowden. Sony consequently put the competing film on hold.   

 To be sure, it is not unusual for a lawyer to negotiate a deal on behalf of a client, but a lawyer ordinarily does not have the power to block a competing film access to their client.  Clearly, Kucherena was no ordinary lawyer.  Among other positions, he was on the public board of the FSB security service.    In light of such connections, Stone said Kucherena might be acting as an intermediary for other parties who did control access to Snowden in Russia but that were not his concern.  Kucherena delivered the exclusive access to Snowden.

 Aside from being a skilled director, Stone is a shrewd producer who knew how to close a deal.  He assessed, correctly as it turned out, that the payment to Kucherena would effectively block Sony’s competing project.  Where the money went was far less clear. 

     Towards the end of our dinner, Stone told me that he did not know I was writing a book about until a few weeks earlier.  He learned of my book from Snowden.  He said Snowden had expressed concern to him about the direction of the book I was writing.  “What was it about?” Stone asked me.     

    I was taken aback.  I had no idea that Snowden was aware of my book project, as I had not tried to contact him.    I told Stone that I considered Snowden to be extraordinary man who had changed history.  Although I was intentionally vague in my description, Stone seemed to be reassured.    

    That Snowden was aware that I was investigating him presented an opportunity.  I asked Stone about the possibility of my seeing Snowden in Moscow.

   Stone did not offer to arrange such a meeting.  He said only that I “might want to speak to Anatoly [Kucherena].”  This conversation suggested to me that Kucherena was Snowden’s gate-keeper.

    In his two years in Moscow, Snowden, or his handlers, had granted only a handful of face-to face interviews.  One was with James Bamford, who was writing an article on Snowden for Wired magazine in 2014.  But it took nearly nine months to arrange the meeting.  “I have been trying to set up an interview with him [Snowden]—traveling to Berlin, Rio de Janeiro twice, and New York multiple times to talk with the handful of his confidants who can arrange a meeting. “ he recounted in Wired. After my dinner with Stone, I hoped to find a quicker route.

First, I was advised that I needed a Moscow “fixer,” the curious term that journalists commonly use to describe a local intermediary who arranges appointments in foreign countries.  I retained Zamir Gotta, a highly respected TV producer in Moscow, who I was told had helped “fix” the Bamford interview with Snowden.
“There is only one door to Snowden,” Zamir wrote me. “His name is Kucherena.”  Since Zamir said Kucherena rarely saw journalists he that he had a contact in his office.  He further told me Kucherena required that any journalist seeking an interview with Snowden to submit his questions to him two weeks in advance and, if approved, sign a document stating I would not deviate from the questions.  Next, my questions had to be translated from English to Russian (even though Snowden does not speak Russian) and then vetted by Kucherena’s staff.   Zamir also suggested I stay at the National hotel in Red Square because Snowden has gone there for previous meetings with Bamford. So I sent Kucherena, via Zamir, ten questions that might interest Snowden (if they ever reached him.)

   I next obtained a multi-entry Russian visa from the Russian consulate in New York, booked myself a room in the National hotel with a view of the Kremlin   and used all my remaining frequent travel miles to book a direct flight on Aeroflot to Moscow.

CHAPTER TWENTY-FIVE

Vanishing Act

“They talk about Russia like it’s the worst place on earth. Russia’s great.”—Snowden Moscow, 2015

My night flight from New York to Moscow took less than eight hours.  It landed at 7:40 AM on October 29, 2015 at terminal D a Sheremetyevo International Airport.  I did not immediately proceed through passport control, not just because I wanted to avoid the killer bumper-to-bumper rush hour traffic, but because I wanted to explore the transit zone in which Snowden was supposedly trapped in for six weeks.

   Sheremetyevo Two, where all international flights land, was built in the waning days of the Cold War for international passengers arriving for the Moscow 1980 Summer Olympics.  It was modernized in 2010, including opening a walkway that connects Terminal D, E and F for transit passengers.

 Snowden had vanished, at least from public view, in this complex of terminals for nearly six weeks in the summer of 2013.  His explanation, as will be recalled, was two-part.  First, he had planned to board the next fight to Cuba, and from there proceed to Ecuador. But he was unable to board this flight because his passport had been invalidated while he was flying to Russia by the U.S. Government.  Second, after discovering his passport had been revoked, he stayed in a capsule hotel in the transit zone for the next 38 days.

  To better understand the plausibility of his version of those events, I proceeded through the transit passage to Terminal F where Snowden’s plane from Hong Kong had landed at 5:15 PM Moscow time on June 23, 2013.  

    Snowden did not o through passport control on June 23rd.  Before any of the other passengers were  allowed to disembark from the plane, Russian plainclothes officers from the Special Services boarded the plane and asked both Snowden and Sarah Harrison, his Wiki leak’s supplied “ninja,” to accompany them to a waiting car that whisked them away.  Assange and Harrison had organized a number of decoy flights.  They may have confused U.S and British intelligence services, as they were intended to do, but they evidently did not fool the Russian intelligence services.  According to the account in Izvestia, “a special operation was conducted for his reception and evacuation.” It further said:  “Snowden flight to Moscow was coordinated with the Russian authorities and intelligence services.”  What was less clear is whether Snowden had voluntarily participated in this “special operation” that effectively took him into custody.    Wherever Snowden and Harrison were next taken-- the “transit zone” extends beyond the airport to medical and other facilities— he was not brought to Terminal E, where the next Aeroflot flight to Cuba departed at 1:40 PM on June 24th 2013. 

Yet, if not for the “special operation”, he could have easily gone by foot to Terminal E. It was, as I found, only a nine minute walk through the transit passageway in which one does not have to show a passport.   But that raises the question: Was Snowden’s plan really to go to Ecuador?

Consider Snowden’s putative motivation in seeking sanctuary in Ecuador: his safety.  Yet, Snowden assessed that he would be vulnerable to capture 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 operate with impunity down there,” he explained in a recorded interview with Katrina vanden Heuvel, the editor of The Nation, in 2014, He had previously discussed the likelihood of his being captured in Ecuador with Julian Assange in Hong Kong in June 2013 before his departure for Moscow. He also told Alan Rusbridger, the editor of the Guardian, that he considered that he was at risk in Latin America.  This vulnerability was no minor matter to Snowden. He told Glenn Greenwald in Hong Kong, before arranging to fly to Moscow, that his “first priority” was his own “physical safety.”  Since he did not believe Ecuador was a safe place for him, why would he leave the comparative safety of Russia and risk being kidnapped by American forces in Latin America? 

Nor was a U.S. passport a prerequisite for U.S. citizens flying to Havana in 2013.  Since the State Department did not sanction travel to Cuba for the general public, the vast majority of Americans going to Cuba obtained a travel document from a Cuban consulate so the Cuban entry stamp would not be marked in their passport.)   So Snowden, if he really had intended to fly to Cuba, only needed this document.  He had over a month to obtain it from the Cuban consulate in Hong Kong.  But he did not.  He could also have obtained a visa to Ecuador at its consulate in Hong Kong.  But he did not.  According to his lawyer Kucherena, who closely examined his passport in July 2013, Snowden had no visas at all.  Unlike his words, Snowden’s actions were with any plan to go to any place in Latin America.

     Shortly after the “special operation,” a tip was placed on a publicly-accessible Russian website saying that Snowden was booked on the Aeroflot flight SU-150 to Cuba on June 24th.  In response to this anonymous tip, Russian and foreign news organization in Moscow ordered their reporters to buy tickets on that flight With their tickets, reporters swarmed into the departure area of the airport in such numbers that the police had to set up cordons.  They checked all the VIP lounges, restaurants, rest rooms and boarding area for the next seven hours, but Snowden was nowhere to be found. A Russia Today reporter later said “It was a total madhouse. Everyone was screaming ‘Snowden’ at the airport ground staff.” Over a hundred reporters actually boarded the plane.

  In fact, Snowden had never checked in for that flight and, as far as is known, was never seen in terminal E.     Only after the plane took off did the journalists realize Snowden was not aboard it.    All they could do was photograph two of the unoccupied seats, 17A and 17 C, which they reported in tweets were Snowden’s and Harrison empty seats.   By the time the plane landed in Cuba Aeroflot denied that anyone named Snowden had ever been booked on any of its flight 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 even in Russia came on July 1, 2013.  A statement posted on n the Wikileaks web site 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 asylum 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.”    Since the Aeroflot flight to Cuba was the only means of getting directly from Moscow to Latin America, Russian reporters, encouraged by the Wikileaks post, continued taking the daily 11 hour flight to Cuba until August 1, 2013, The charade only ended when Kucherena said in a press conference at the airport that Snowden would be taking up residency at an undisclosed location in Moscow, and walked out of the airport with Snowden. 

The question remained: where had Snowden been staying for those 39 days?  Sarah Harrison, his companion on the plane, told Vogue that she and Snowden had shared a windowless room in the transit zone, where they watched TV, washed their clothes in a sink basin and ate meals from the nearby Burger King.  The only hotel with windowless rooms in the transit zone in 2013 was the Vozdushny V-Express Capsule Hotel, located next to a newly-opened Burger King restaurant. 
   I next went there. The polite V-express desk clerk, who spoke English, showed me the standard windowless double-room.  It was approximately 24 square feet, the size of a large shipping container.  Most of the floor space was taken up by twin bed. Across from the bed, behind a plastic curtain, was a stall with a shower, a toilet and sink.  Not only was it very cramped quarters for two people to share but it was fairly expensive.  It cost 850 rubles an hour (about $18 in 2013.)  For 39 days that hourly charge would add up to $16,600.   Even though Snowden claimed that he brought a large cache of cash to Russia, such a long stay was not allowed, according to the desk clerk.  The maximum stay allowed by the hotel was 24 hours.  So either the rule was waived for Snowden or he moved to another facility not available to the public. 

I learned from a former KGB officer, there are a number of VIP quarters beyond the confines of the airport, including suites at the 400-room Novotel hotel, which is located about seven miles from the airport, that are used for debriefing  and other purposes by the security services.  According to him, the security services are not restricted from entering and leaving the transit zone.    

The possibility that he was staying elsewhere would help explain the futile search for him by of a large number of reporters over those 39 days.  When they learned from tweets that Snowden was not aboard plane to Havana on June 24th, they aggressively questioned every restaurant employees, security guards and airport personnel for weeks they could find. Some reporters even took rooms in the V-Express Capsule Hotel and “tipped” maids and other hotel employees. They also bought business-class tickets on flights to gain access to all the public VIP lounges in the transit zones.  Despite this intensive search, none of them found anyone who had seen Snowden although his image was constantly shown on airport TV screens. Egor Piscunov, a Russian journalist who checked into the capsule hotel for 4 hours told me, “It was a total vanishing act.” 



CHAPTER TWENTY-SIX
Through the Looking Glass

﻿ “There’s definitely a deep state. Trust me, I’ve been there”

                —Edward Snowden in Moscow 

     While waiting to hear back from Kucherena’s office, I arranged to meet with Victor Ivanovich Cherkashin, who gad been one of the most successful KGB spy handlers in the Cold War. Cherkashin, born in 1932, had served in the KGB’s espionage branch from 1952 until 1991. He now operated a private security firm in Moscow.  I was particularly interested in his recruitment of three top American intelligence officers; Aldrich Ames in the CIA, Robert Hanssen in the FBI and Ronald Pelton in the NSA.  I hoped that seeing these intelligence coups through the eyes, and mind-set, of their KGB handler might provide some historical context for the Snowden defection.   So I invited Cherkashin to lunch at Gusto, a quiet Italian restaurant, located near the Chekov Theater in central Moscow,

    Cherkashin, a tall thin man with silver hair, showed up promptly at 1 pm.  Wearing an elegant grey suit and dark tie, he walked with a spry step.  Since he had served in counterintelligence in the Soviet Embassy in Washington D.C.  for nearly a decade, he spoke flawless English, 

    I began the interview with one of the more celebrated cases he handled: the KGB recruitment of Aldrich Ames.  Ames, a CIA counterintelligence officer, had worked as a Russian mole between April 1985 and January 1994.   In those nine years, he rose, or was maneuvered by the KGB, into a top position in the CIA's highly-sensitive Counterintelligence Center Analysis Group, which allowed him to deliver hundreds of top secrets to the KGB.  In return, according to Cherkashin, Ames received in cash between $20,000 and $50,000 for each delivery, which amounted to $4.6 million over the nine years.

    I asked Cherkashin about the weakness the KGB looked for in an American intelligence worker that might lead him to copy and steal top secret documents.  How did he spot a potential Ames? Was it a financial problem?  Was it a sexual vulnerability? Was it an ideological leaning?

  “Nothing so dramatic,” he answered.  What he looked for when assessing Ames’s potential was an intelligence officer who is both dissatisfied and antagonistic to the service for which he works.”

   “The classic disgruntle employee,” I interjected.

   “Any intelligence officer who strongly feels that his superiors are not listening to him, and that they are doing stupid things, is a candidate,” he continued.  He said he had found that the flaw in a prospect that could be most dependably exploited was not his greed, lust, or deviant behavior but his resentment over the way he was being treated.

    “Is that how you spotted Ames?”

“Actually he approached us, not vice versa.”  It was his job in the CIA to approach opposition KGB officers. “But yes we saw the potential,” he said. 

   Since Ames had been initially paid by Cherkashin $50,000 in cash for his first delivery, I asked whether he fit into the category of a disgruntled employee. “Wasn’t he a mercenary/” 

   “I knew from our intelligence reports that he needed money for debts stemming from his divorce,” he answered. “But he was also angry at the stupidity and paranoia of those running the CIA. Ames told me at our first secret meeting that they were misleading Congress by exaggerating the Soviet threat.” Cherkashin evaluated Ames as a man who felt not only slighted by his superiors but “helpless to do anything about it” within the bureaucracy of the CIA.  “The money we gave, even if he could spend only a small portion of it, gave him a sense of worth.”  He explained that the KGB had an entire team of psychologists in Moscow that worked on further exploiting Ames’s resentment at his superiors.

   The search for an adversary intelligence officer who resents his service was not limited to KGB recruiters.  It was also the “classic attitude” that the CIA sought to exploit in its adversaries, according to its former deputy director.  “You find someone working for the other side and tell him that he is not receiving the proper recognition, pay and honors due him,” Michael Morell said, pointing out that the same “psychological dynamic” could be used to motivate someone to “act alone” in gathering espionage material. 

      I next turned to an even more important KGB coup:  his Robert Hanssen case. Hanssen was the FBI counterintelligence officer who worked as a KGB mole for 22 years between 1979 and 2002 and had delivered even more documents to the Russian intelligence services than Hanssen. “Did Hanssen’s dissatisfaction with the FBI, or his objections to its policies, play a role in his recruitment?” I asked.

    “I didn’t recruit Hanssen,” Cherkashin replied, “He recruited himself.  I never even knew his name or where he worked.”  He added: “So I knew nothing about his motivation other than that he wanted cash.”

     “So he was mercenary,” I suggested.

     “All we knew was that he delivered valuable documents to us and asked for cash in return.” he said.  “We didn’t control him, he controlled us.”

An uncontrolled mole that provided secrets to the KGB and SVR for 22 years was very different from fictional moles in the spy movies.  I asked whether it would have been better if the KGB had him under its control.

    “Possibly,” Cherkashin answered, “but as it turned out Hanssen was our most valuable penetration in the Cold War.”

Unlike Ames, whose nine-year career as a mole could be managed by the KGB, Hanssen decided what secret documents to steal and when to make contact or a delivery.  He refused to even allow the KGB to suggest a site. All the communications with him were by letter or to a phone number in a used car ad Except for putting money into a dead drop, the KGB played only a passive role in the espionage.  “Could Hanssen really be called a mole?” I asked.

   “A mole is a term used in spy fiction,” he said.  “We prefer to the more general term ‘espionage source.” 

   “So anyone who delivers state secrets to the KGB, for whatever reason, is an espionage source?” I asked.

 “Certainly, if the information is valuable to us,” Cherkashin answered. “Hanssen delivered secrets exposing American human and electronic operations against Russia.  He was our most valuable espionage source.  It is the delivery of secrets, not the methods used, that counts.”

“If some unknown person simply delivered a trove of top-secret communications secrets to the doorstep of Russia would they it be accepted?” I asked with Snowden in mind.

    “I can’t say what the SVR would do today.  I am long retired” he said, with a nostalgic shake of his head. “But in my day, we needed some reason to believe to believe the gift was genuine.”

   “Would you need to vet the person delivering it?” 

   “With Hanssen we did not have that opportunity,” he said. “If we believed the documents were genuine, we would of course grab them.”

   The final recruitment I asked Cherkashin about was that of Ronald Pelton,  the civilian employee of the NSA who had retired in 1979.  Pelton had left the NSA without taking any classified documents with him. After retiring, he had financial difficulties, and he sought to get money from the KGB.  On January 14, 1980, he walked into the Soviet embassy in Washington DC and asked to see an intelligence officer.  After he was ushered into secure debriefing room, he said that he had information that Russia would find interesting, but he wanted money in return.   What interested me about the Pelton case was that Cherkashin proceeded to recruit Pelton even though he was no longer working at the NSA, and Pelton no longer had access to the NSA.  In addition, since the FBI had 24 hour surveillance on the embassy, Pelton had almost certainly been photographed entering it and also possibly had been recorded asking for an intelligence officer by electronic bugs that the KGB suspected that NSA had planted in the embassy.  What did the KGB do in a situation in which ex-civilian employee at the NSA possessed no documents?

Despite the risks involved, Cherkashin decided Pelton had to be debriefed by communications intelligence specialists. So he had him disguised as a utility worker and smuggled out in a van to the residential compound of the Ambassador in Georgetown. A few days later, he was dropped off at a shopping mall, “Why did you go to such effort if Pelton had neither documents nor access to the NSA?” I asked.

   “It was the information in his head that we wanted.”  Cherkashin said that as KGB rarely got access to any NSA officer, it was worth the risk.  So he was given $5,000 in cash and a plane ticket to Vienna, where he was domiciled at the residence of the Soviet ambassador to Austria.  A KGB’s electronic communications expert, Anatoly Slavnov, was then sent to Vienna to supervise the Pelton debriefings. The debriefing sessions, which went on for 15 days, were from 8 AM to 6 PM.  In them, Pelton managed to recall  Project A, a joint NSA-CIA-Navy operation in which submarines  surreptitiously tapped into Soviet undersea cables in the Sea of Okhotsk, which connected a to the Soviet Pacific Fleet's mainland headquarters at Vladivostok.  Pelton received another $30,000 from the KGB.  

   “Did the information in his head proved valuable?” I asked.

   “As long as the NSA didn’t know the tap was compromised by Pelton, we could use the cable to send to the NSA the information we wanted it to intercept.”   He said while actual NSA documents would have proved more useful than someone’s memories, “Our job is to take advantage of whatever we can get.”

   Two years later, Pelton was again flown to Vienna for a follow-up debriefing to see if he could recall any further details. Finally, in 1985, Pelton was arrested by the FBI and, like Ames and Hanssen, sentenced to life imprisonment.

    Looking at his watch, Cherkashin politely excused himself, saying he had work to do.  On parting, I signed a copy of my book on Angleton for him and thanked him for his insights.

  Through the eyes of the KGB, a penetration of American intelligence was clearly opportunistic.  If these practices continued, they put the Snowden case in a new light for me.  If Russian intelligence considered it worthwhile to send an ex-civilian worker at the NSA, such as Ronald Pelton, from Washington D.C. 2,000 miles to Austria so that its specialists could debrief him on the secrets he held in his head, it would have an even greater interest in exfiltrating Snowden from Hong Kong to get, aside from his documents, whatever secrets he held in his head.  If Russian intelligence was willing to opportunistically accept the delivery of U.S. secrets from an unknown espionage source that it neither recruited nor controlled, such as Hanssen, it would have little hesitancy in acquiring the secrets that Snowden had stolen on his own volition, even if Snowden acted for idealistic reasons.  If Russian intelligence focused its search pattern on disgruntled American intelligence workers, such as Ames, it is plausible that it spotted Snowden through his Internet rants against U.S. surveillance.   Even if it had missed Snowden in Hawaii, a disgruntled ex-civilian employee at the NSA would have received its full attention after he contacted Russian officials in Hong Kong.  While the tactics of the SVR may have changed since Cherkashin retired, its objectives remained the same. And the NSA remained its principal target.  Nor is there any reason to doubt that it still measures success in its ability to obtain, by whatever means, the secret sources and methods of its adversaries. Snowden was in a position, both with the documents he had taken and the knowledge he had in his head, to deliver the KGB such a coup. 

CHAPTER TWENTY-SEVEN

The Handler

As for his [Snowden’s] communication with the outside world, yes, I am his main contact

                 --Anatoly Kucherena, September 23, 2013

      Time was rapidly running out for me in Moscow.  On November 1st, I still had not been able to make contact with Anatoly Kucherena, and my flight back to New York was in five days. My fixer, Zamir, had been trying to arrange an appointment for three weeks but he had only received one call back from Kucherena’s assistant, Valentina Vladimirovna Kvirvova. She wanted to know how I knew Oliver Stone.  He told her of my part in Stone’s movie Wall Street 2: Money Never Sleeps. That was the last he had heard from her.  Meanwhile a Moscow based journalist told me that she had waited 18 months to hear back from him giving up.  I also learned from a Russian researcher that Kucherena had not given a single interview to any journalist since his television interview with Sophie Shevardnadze on September 23, 2013.  And no Russian journalist, or any Moscow-based foreign journalist, had ever obtained an interview with Snowden.   At this point, Zamir was becoming increasingly doubtful about getting my access to either Kucherena or Snowden. 

    But I had another contact in Moscow.  When I had been investigating the 2006 Polonium poisoning of ex-KGB officer Alexander Litvinenko in London, I had interviewed a number of people in Moscow, including Andrei Lugovoy.  A former KGB officer assigned to protecting the Kremlin’s top members in the 1990s, Lugovoy later opened his own security company. In 2005, he became a business associate of Litvinenko’s in gathering information, and made regular trips to London to meet with him.   Since he had tea with Litvinenko at the Millennium hotel in London on November 1, 2006, the day Litvinenko was poisoned, he became the main suspect in the British investigation. He could not be extradited, however.  After reconstructing the chronology of the crime, I established that Litvinenko had been contaminated with Polonium at a Japanese restaurant some four hours before his tea with Lugovoy.  I therefore wrote that Lugovoy could not have poisoned Litvinenko in the Millennium hotel, a finding that he said he greatly appreciated.

Lugovoy was elected to the Duma in 2008, and also hosted a 24 part television series espionage for which he was personally decorated by Putin. He was also now reputed to be in the inner circle of power in Moscow.  So I called him.

   We arranged to meet in the lobby bar of the National Hotel.  A short but well-built man with a bullet-style haircut, Lugovoy showed up promptly at 1 PM. After discussing some of the subsequent developments in the still-lingering Polonium investigation, I asked him if he knew Kucherena.

         “I don’t know him, but I know someone who does,” he answered. “Why are you interested in seeing Kucherena?”

      I told him that I wanted to speak to him about Snowden but that I had been unable to arrange a meeting.   

    “That’s no problem,” he said, raising his cell phone (which never left his hand.) He hit a number the speed dial, and spoke rapidly in Russian (which I do not understand.)  He cupped his hand over the phone and asked how long I would be in Moscow.

    After I told him that I was leaving on Friday, he spoke again in to the person on the other end. “You will have an appointment on Thursday,” he said. 

     Later that afternoon Valentina, Kucherena’s assistant, called to say that Kucherena would be happy to see me at his office at 6 PM on Thursday.  I didn’t ask Lugovoy who he had called or how this had happened. Clearly, whoever Lugovoy called had the power to arrange the meeting. Power evidently works in unseen ways in Putin’s Russia. 

Kucherena’s office was only two subway stops from the National hotel, and I arrived ten minutes early.  A receptionist showed me into a well-lit square room with an elegant table in the center.  There was a sumptuous basket of exotic fruit on the table and large portraits of racehorses on the walls.  Another door opened, and a tall, graceful woman came into the room and introduced herself as “Valentina.”   She was wearing a well-fitting black dress, striking jade necklace and high heels.  When she asked whether I would like anything to drink, it seemed more like the prelude to an elegant dinner party than an interview about Snowden.

As Kucherena did not speak English, I brought Zamir along to translate for the conversation, but Valentina also spoke very good English.  She apologized for the delay in responding to my requests, explaining that she received “thousands of requests” for interviews and did not have time to answer them.  When I asked how many were answered, she shrugged and said “not many.”

 At that moment, Kucherena entered with a jaunty step, a cherubic face and an untamed white hair. He was wearing grey slacks, a partially buttoned cashmere polo sweater and a fully engaging smile.

As I had learned from his entry in Wikipedia, he was born in a small village in the Soviet Socialist Republic of Moldavia in 1960, and he had obtained his law degree from the All-Union Correspondence Law Institute in 1991.   He opened his own law firm in Moscow in 1995.  Kucherena’s well-known friendship with Putin evidently had not hurt his law practice.  His clients had included such well-connected defendants as Viktor Yanukovych, the overthrown president of Ukraine in 2014; Grigory Leps, a Russian singer blacklisted by the U.S. for allegedly acting as a money courier for a Eurasian criminal organization; Valentin Kovalev, a former Russian Minister of Justice charged with corruption; and Suleyman Kerimov, a civil servant from Dagestan, who had amassed an estimated fortune of $7.1 billion.  Kerimov recently had been charged for manipulating a Potash cartel case in Belarus.  Most of these clients were reputed to be part of Putin’s inner circle.   

To break the ice, I asked him about Oliver Stone. I knew he had a small role in Oliver Stone’s forthcoming movie “Snowden.” in which he plays Snowden’s lawyer in Moscow.

   “I was impressed by how few takes he needed to shoot my scene,” he answered.  

   “How did you come to be Snowden’s lawyer?” I asked.

   “Snowden picked me from a roster of 15 lawyers with which he had been given.”  He then went to Sheremetyevo International Airport to meet his new client.  They met on the morning of Friday July 12, 2013.  At that point, he said that Snowden had been held virtually incommunicado for 20 days.  Other than Russian officials, the only person he had been allowed to see during this period was Assange’s aide, Sarah Harrison.

   “Where in the airport did you meet him?” I asked. Was it in a VIP lounge?”

   “It was in the transit zone,” he replied coyly. “That is all I can say.”  They spoke through a translator, as Snowden did not speak Russian.  By this time, Sarah Harrison had sent 21 countries petitions for asylum that were signed by Snowden.  Whatever their purpose, Kucherena did not consider them helpful.   “I told him that if he wanted to get sanctuary in Russia, he would have to immediately withdraw all the petitions in which he had asked other countries for asylum.”  Kucherena said that otherwise he could not represent him. Snowden agreed to that condition. 

  Later that afternoon Kucherena accompanied Snowden to area G9 in the transit zone where they emerged from a door marked “authorized personnel only” shortly before 5 PM.  The room was packed with representatives of Human Rights Watch, Amnesty International, Wikileaks and other Moscow-based activist groups. They had been invited the previous  day by an emails signed “Edward Snowden”  instructing then to go  to Terminal F at Sheremetyevo International Airport where they would be met by airport personnel carrying a “G9.”  It was a rare, if not unprecedented, event, for an American citizen to defect to Russia. 

Wearing an open-neck blue shirt and badly-creased jacket, Snowden read a prepared statement that accused the United States government of violating the universal declaration of human rights and described himself as a victim of political persecution.      He then formally announced that he was “requesting asylum in Russia.”  

In discussing this meeting, Kucherena told me that Snowden had not intended to seek asylum in Russia when he arrived on June 23.  Since he also said he had not met Snowden prior to July 12th, 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, 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, the previously-mentioned grand-daughter of Politburo member Edward Shevardnadze and widely-followe3d television journalist.  She told me that Kucherena had personally approved the translation of the interview into English.  So I asked Kucherena about his 2013 interview with her, which was the last interview he had given about Snowden.  It will be recalled that in response to a question about whether Snowden had secret material with him in Russia, Kucherena had said “certainly.”  Was this exchange accurate?

   “It was accurate,” he answered.

Snowden himself had said in Hong Kong that he had only given journalists some of the state secrets he had stolen and that he deemed others too sensitive for journalists.    So I sought to find out from Kucherena which documents Snowden had taken to Russia.  I went about it in a roundabout way.    When Shevardnadze asked him about the secret material Snowden had might reveal in Russia, Kucherena pointedly called her attention to Snowden’s CIA service, suggesting that he might possess CIA files.  I also knew that in his roman a clef novel which Oliver Stone had optioned for $1 million, he had Joshua Frost, the thinly veiled Snowden-based character, steal a vast number of CIA documents that could do great damage to U.S. intelligence.  By retaining them, Frost made himself a prime target of the CIA.  So I asked “Is Joshua Frost fact or fiction?”    

 “I can’t tell you that,” he said, “If I said he was Snowden it would violate the attorney client privilege.”
    “I understand,” I persisted, “But did Snowden do what Frost did in your book.”
     “That is for you to decide,” he answered with a sly smile.  “It’s my first novel.”

When I asked if he could arrange for me to see Snowden, he said that first I would have to first submit my questions to Ben Wizner, Snowden’s American lawyer.  He made it clear to me that the exposure of Snowden to journalists, or at least the vetting of journalists, had been outsourced to Wizner, “After that the final decision is up to Snowden,” he said.  That seemed to conclude the interview but, as I got up to leave, he added, “His legal defense is fairly expensive and Snowden is running out of money.”
    I was intrigued by this parting remark.  Snowden, as far as I knew, didn’t need a legal defense because he was not charged with a crime in Russia and the United States had no extradition treaty with Russia.  But I asked, “Could I make a contribution to his defense fund?”
             “It would be greatly appreciated,” he said, “We will supply you with instructions to wire the money to our bank.”
             “How much should I send?”
             “That’s up to you,” he said, getting up to walk me to the door. “I should add for the record that the contribution will not influence Snowden's decision to see you.”
             “I will send the wiring instructions” Valentina said as I left. “I hope you come back to Moscow.”

While Kucherena did not arrange an interview with Snowden, as I had hoped, he did something I considered more important.  He confirmed the accuracy of his September 2013c assertion that Snowden had brought secret material to Russia; material he had not given to journalists in Hong Kong.   After what I learned from Cherkashin about the lengths that Russian intelligence would go to obtain U.S. communications intelligence secrets, I viewed Snowden’s access to this material to be a crucially important part of the mystery.
    As for Snowden, I would send my questions to Ben Wizner and, if he and Snowden approved them, I would fly back to Moscow.  But I decided that I was not going to send money to Kucherena— or to Snowden.

                                     PART SIX

                                  CONCLUSIONS





CHAPTER TWENTY-EIGHT
Snowden’s Choices


“It is the choices we make that show who we truly are”

                          J.K Rowling, the Philosopher’s Stone


     Whereas Russian authorities had the opportunity to thoroughly debrief Snowden as to his motive for stealing state secrets, US authorities did not have that opportunity (and it seems unlikely that they will have it in the foreseeable future.)  So Snowden’s motive is a missing part of the puzzle. It also cannot even be assumed that he had a single consistent motive during the nine-month course of his illicit copying of documents.  Snowden has shown, if nothing else, that he is adaptable.   He may have began taking documents for one reason and found other reasons as he proceeded in his quest. Many of the circumstances of his probes, contacts, theft and escape remain disputed by his supporters and shrouded by the secrecy of the NSA.  What we do know is that Snowden made four extraordinary choices during the nine month period in 2013 that speak to the concerns that may have guided his actions.    In the case of a classified intelligence breach, as in a chess game, the sequence of moves a player makes provides an important clue to his strategy.


    The first move that Snowden made in preparation of the Level 3 breach was switching jobs on March 15th 2013.  Snowden chose to leave his job as a system administrator at Dell SecureWorks to take job at Booz Allen as an analyst-in-training. His motive was not money, as it was a lower-paying position.  At the time, he made this choice he had already set up an encrypted channel with Laura Poitras for the purpose of sending her secret material.  But he did not have to change jobs to send her secrets. So what was his purpose in making this fateful choice?


The job change was not necessary to expose NSA domestic activities. If he had only wanted to be a whistle-blower, there were ample documents about the NSA’s activities already available to him on the NSANet.  He also had access at Dell to the administrative file which contained the FISA court orders issued every three months to Verizon.  In addition, as the NSA’s damage assessment established, before switching jobs Snowden had already taken most of the documents pertaining to the NSA’s domestic operations that he could have supplied to Poitras and Greenwald for whistle-blowing purposes.  Indeed, while still at Dell, it will be recalled, he had he had told Poitras he had a copy of Presidential Policy Directive 20, a document in which President Obama authorized the NSA to tap into fiber cables crossing the United States.   Snowden described it to her as “a kind of martial law for cyber operations, created by the White House.” True, he took a more recently-issued FISA warrant and PRISM presentation in April after switching jobs, but he could have just as easily taken the January 2013 version of the FISA warrant from the administrative file of Dell.  It would have had the same explosive effect in the media. 




Nor did he switch jobs to lessen the risk of getting caught. He actually put himself in far greater jeopardy by switching jobs. At Dell he was relatively safe from apprehension since he could take documents, such as the above-mentioned Presidential Policy Directive 20, from access points at the NSA shared by many of his peers. Since these shared access points provided the equivalent of a common reading room at a library, it would be difficult to trace the theft of any documents taken from them to a particular user. Indeed, if he just wanted to expose the NSA’s domestic operations, he could have done the entire operation at Dell.  He even could have sent Poitras documents anonymously over his own TOR software and server.  And he could have remained in his self-described “paradise” in Hawaii with his girl friend. 
     Yet he chose to move to Booz Allen he also greatly increased the risk of exposure because the auditing system at Booz Allen could trace back unauthorized copying (though not in real time.)  Presumably he knew, as he later told Greenwald and Poitras, that stealing documents at the Booz Allen job meant that he would either go to prison or escape from America.  He didn’t want to face prison time, so the job change required an escape plan.  In keeping with the latter option, only about a week after he started work at the Booz Allen-managed facility, he submitted a request for a medical leave of absence.

   We can safely assume that the reason for him to make this risky switch in employment was because he wanted something beyond the whistle-blowing documents.  He wanted now to get documents that were not available at the Dell job.  One such document he took was the top-secret Congressional Budget Justification Book for Fiscal Year 2013. This “black budget,” as it is called in Congress, contained the entire Intelligence Community’s priorities for, among other things, monitoring the activities of potential adversaries and terrorist organizations. It specified the money requested by not only the NSA, but the CIA, DIA, National Reconnaissance Office and other intelligence services.  Snowden could not have considered the budget illegitimate, since is duly approved by both houses of Congress and the President.  Nor could he objected to its secrecy since he himself had sworn oaths to protect all classified documents to which he was privy for the past eight years.  If it was not for purposes of whistle-blowing, presumably he had another purpose for taking such a document.  It certainly held value to other actors.  “For our enemies, having it is like having the playbook of the opposing NFL team,” said CIA Deputy Director Morell in 2015. “I guarantee you that the SVR, the Russian foreign intelligence service, would have paid millions of dollars for such a document.”   Unlike Ames, Hanssen and Pelton, Snowden was not after money.  He sought documents that enhanced his power and importance.


  He made no secret of this part of his motive after he got safely to Hong Kong. As will be recalled in answer to a question from the journalist Lana Lam about his motive for changing jobs, he answered that he took the Booz Allen job to get access to secret lists that were not available to him by working for Dell.  These documents certainly increases his value to other nations since they included Level 3 lists revealing the NSA’s sources in Russia, China and other foreign countries.  


    Snowden also wanted more than NSA secrets.  He used his new position, and widened access at Booz Allen, to go after secret documents from the intelligence services of Britain, Australia. New Zealand and Israel He revealed this operation only after receiving sanctuary in Russia.  He told an interviewer that by moving to his new Booz Allen job as an infrastructure analyst he gained the ability to pry secrets out of the allied of the NSA. “I had a special level of clearance, called ‘Priv Ac’,” he said.  This “priv ac” status, he further explained, allowed him to request files from other services cooperating with U.S. intelligence.  By way of example, he described one file from the British GCHQ cipher service that he copied, stole and provided to other parties.  It exposed  a legally-authorized British operation to collect electronic data on terrorist matters in Pakistan by tapping into Cisco routers used by telecom companies in Asia.  This GCHQ operation, as he himself recognized, violated neither British nor American law.  He told a BBC interviewer in regard to that file:”What's scariest is not what the government is doing that's unlawful, but what they're doing that is completely lawful.” So his criteria for taking such documents were not their illegality.  Nor did the fact they were lawful actions stop him from taking highly-sensitive GCHQ documents referring to them.  In his five weeks at this Booz Allen job,   he also used this same newly-acquired “Priv Ac” at the NSA to steal files from the Israeli, Canadian and Australian intelligence services.


      Jumping from one outside contracting firm to another for the purpose of penetrating other/r western intelligence services is not the conventional mission of a whistle-blowing.  In the parlance of intelligence operations, an employee of an intelligence service who changes his jobs\ solely to steal the more valuable secrets of services is called an “expanding penetration.”  


    It is not possible to believe that Snowden did not know the damage that the highly-sensitive documents he was taking from the NSA and its allies.  Even if they did not reveal any unlawful American activities, could do immense damage to Western intelligence.  Indeed, he said as much once he got to Moscow.  In respect to China alone, he  told James Risen, the New York Times’ national security reporter, in October 2013 that he had had “access to every [NSA] target, every [NSA] active operation” that could turn out the NSA’s “lights” in China.  He no doubt assumed that he had the same power to close down the NSA’s operations in Russia.  


His choice to switch jobs did not come out of the blue. It was not based on serendipitously discovering the documents after he began working at Booz Allen.  .  It was a carefully calculated move.  As he told Lana Lam, he knew in advance that by switching to the job at Booz Allen he would gain the opportunity to take the lists of NSA sources. He knew that the NSA’ secretive National Threat Operations Center’s  chief business was, as its name suggests, countering direct threats from China, Russia and other adversary states, and that, to deal with these threats, the NSA had used sophisticated methods to hack into the computers of adversaries.  The NSA was even able to remotely gain entry to adversary computers that were not hooked into a network.  “It’s no secret that we hack China very aggressively,” Snowden later said from Moscow.  He had a planned target: getting the lists of the enemy computers that the NSA hacked into. 


    He also knew he was undertaking s a dangerous enterprise.  He would tell Poitras in Hong Kong that the NSA would literally “kill” to protect their secrets.  He also said he could be seized in a rendition operation by the CIA in Hong Kong. He even foresaw the probability that he “would be in an orange jumpsuit, super-max prison in isolation or Guantanamo.”  


     He knowingly chose this course, despite the possibility of assassination or imprisonment, presumably because he believed the value of the secrets he would obtain by switching jobs outweighed the risk of imprisonment. Part of his calculus might have been the belief that the NSA lists, GCHQ documents and other material in his possession could give him great leverage, if he chose to exert it, in his future dealings with intelligence services (including the NSA.)  If so, his choice to widen his access was also a choice to empower himself. 


      The second choice of consequence that Snowden made was to make Hong Kong his first stop.   He had many other options.  He could have remained in America, as almost all previous whistle-blowers in the past had chosen to do.  If he did that, he would have to make his case in court (and, in that case, the level 3 documents he took might have been retrieved before they fell into unauthorized hands.)  He could have also chosen to make a cross-border escape to a country that did not have an active extradition treaty with the United States.  He could have, for example, taken a direct flight to Brazil, which has no extradition treaty with the United States.  Brazil also had the advantage of being the home country of Glenn Greenwald, the journalist who he wanted to break the whistle-blowing story.  As Greenwald seemed (at least to Snowden) hesitant to travel 12 times zones away to meet an anonymous source, Brazil also would have been a more certain place to meet Greenwald.   If some consideration by Snowden precluded Brazil as a destination, Snowden could have also gone to Ecuador, Bolivia, Cuba, Iceland, or Venezuela, which are also countries that do not have active extradition treaties with the United States.        Yet, instead of proceeding to a country from which he could not have been extradited, he flew to Hong Kong, which had a vigorously enforced extradition agreement.


     His reason for choosing was not to keep a previously arranged rendezvous with a journalist.  As previously mentioned, when he left Hong Kong not a single journalist had agreed to meet him in Hong Kong.  Indeed, Gellman considered Hong Kong, as he put it, “in the jurisdiction of a country that’s unfriendly to the United States,” and notified Snowden that he would not be able to journey to Hong Kong.    Yet, even without any appointments with journalists, he chose to fly to Hong Kong.  So his choice was not based on either evading extradition or on accommodating journalists.

       He chose Hong Kong for another reason. He told Greenwald Hong Kong, as a part of China, could provide him protection from any countermeasures by U.S. intelligence agencies. He made that consideration clear, saying that that Snowden’s “first priority was to ensure his physical safety from US interference.” Hong Kong “was part of China’s territories, he [Snowden] reasoned, and American agents would find it harder to operate there than other places,” according to Greenwald.   Snowden further reckoned that China’s control over Hong Kong prevented “American agents from breaking down the door” of the hotel room and from seizing him.   Tyler Drumheller, a former CIA station chief, told me that Snowden was correct in his assessment of that Hong Kong advantage. Drumheller said that Hong Kong was “home court” for the Chinese intelligence services. It played a: dominant role” in running the police, airport passport control and security regime there. According to Drumheller, this reality limited the role that American and British intelligence operatives could play there and Snowden would be protected in Hong Kong against an intrusion by America. “Snowden obviously knew this from his training at the CIA,” Drumheller said.

      As the Chinese service was under no such restrictions, Snowden had gained protection at a price.   While no US or British intelligence operatives would be in a position to retrieve the NSA files he had brought with him to Hong Kong, Chinese operatives, and their allies in the intelligence war, would have a free hand in Hong Kong.  Yet, Snowden chose to put his physical safety in the hands of China.
       One reason why Snowden may not have been overly concerned about Hong Kong’s extradition treaty with the U.S. was that he had never intended to test it by staying in Hong Kong after his media events.  Snowden told the editor of the Guardian from the safety of Moscow, Hong Kong was only a temporary stop over.  He added in the interview that allowing himself to become part of an extradition proceeding in the Hong Kong court was not part of his plan. If so, the Hong Kong lawyers, who believed they had been retained pro bono to battle against extradition, were part of a charade.  Hong Kong merely was a protected stopover. The stopover may have provided him with a further advantage.  If he had gone directly to his next destination, Moscow, and he provided the same journalists with the same documents at a press conference in Moscow, his status as a whistle-blower might have been viewed with less sympathy in the media.  Even the Guardian, for example, might have been reluctant to publish a Moscow-based story revealing British and American communications intelligence secrets,  

   The third choice Snowden made, and the choice that most effectively defined him to the public, was to reveal himself as the man behind the leak in a video in Hong Kong.   He not only  identified himself as the person who stole the government documents published by the Guardian and Washington Post, but he incriminated himself further on camera by allowing Poitras to film him actually disclosing  NSA’s secret operations to Greenwald.  By disclosing classified data to Greenwald, an unauthorized person, he intentionally burned his bridges.  

    What makes this choice intriguing is that there was no evident need for him to expose himself in this way.  If he merely wanted to be a whistle-blower, he could have, as Bradley Manning did, anonymously sent the documents to journalists as “Citizen 4.”  In fact, in late May 2013, that was exactly what he did.  He sent Barton Gellman the PRISM scoop anonymously which the Washington Post published on June 6th, 2013. In that scoop, Snowden’s name was not revealed. He also sent Greenwald and Poitras documents while he was still the anonymous source “Citizen 4.”  Neither Gellman nor Greenwald had suggested the need for a face-to-face meeting with Snowden.   Even after he had revealed his true identity to Poitras and Greenwald on June 2nd 2013,   Guardian editor Ewen MacAskill offered him the option of remaining an unnamed source for the stories.  He said, as he later told Vanity Fair. “You should remain anonymous; the stories are just as good without you.”  However, anonymity was not part of Snowden’s long game.

 The reason he gave Greenwald in Hong Kong for going public in this way was to avoid any suspicion falling on his co-workers at the NSA.  Yet, if merely wanted to take sole responsibility for stealing state secrets, he did not need to be the subject of a documentary.  He could have simply allowed Greenwald to identify him by name as the source in the stories.  That would not present an issue since he had not been identified by either name or position in the initial stories published on June 5th and 6th by Greenwald, Poitras and Gellman. In short, he did not act to defect suspicion from his co-workers for the initial investigation.  Why now? 

   The one thing that Snowden could not accomplish by anonymously transferring the documents to journalists was a starring role in the drama. If he had appeared digitally-masked in Poitras’ video with an altered voice, he would not achieve fame in the media.  For that, he needed to allow Poitras to film him committing the crime of turning over NSA documents to Greenwald.     This video was also the result of his advanced planning. Indeed, one reason he chose Poitras was that she was a prize-winning/ documentary film-maker who had already made a documentary about NSA whistle-blower William Binney.  Snowden, while he was still working at the NSA in March 2013, made it clear how he intended to use Poitras' film-making skills.  He told her: “My personal desire is that you paint the target directly on my back.”

    He chose to make himself the on-camera star of a 20-hour long reality show. This sensational footage would transform him in the public’s mind into a selfless hero. It would be a mistake to assume that the central role he gave himself was an exercise in narcissism.  It was an integral part of his personal transformation.   After this globally-watched video, he was no longer a near non-entity servicing a computer system at a back-water NSA base in Hawaii. In the space of 12 minutes on television, he had emerged from the shadowy world of electronic intelligence and became one of the most famous whistle-blowers in modern history.  It was a mantle that would allow him to also become a leading advocate of privacy and encryption rights as well the leading opponent of NSA spying.  While this remarkable transformation may not have been his entire motive, it certainly was the result of the choice he made to go public.


     The final choice he was made to board a non-stop flight to Moscow on June 23, 2013. 
To remain in Hong Kong once a criminal complaint was leveled against him would have meant that, at the very minimum, Hong Kong authorities would seize him and the alleged stolen property of the US government in his possession. Even if he was released on bail, the Hong Kong authorities would almost certainly retain all the NSA and GCHQ files he had gone to such lengths to steal.  He also would not be allowed to leave Hong Kong and possibly denied any access to the Internet. As he demonstrated by his subsequent actions, this option was not acceptable to him.
Once the U.S. criminal complaint was unsealed on June 21, 2013, which became all but inevitable after his video, his only route out of Hong Kong went through two adversaries of the United States, China and Russia.   China, as far as is known, did not offer him sanctuary.  According to one U.S diplomat, it may have already obtained copies of Snowden’s NSA files, and did not want the problem of having Snowden defect to Beijing. In any case, if it had not already acquired the files. It could assume it would receive that intelligence data from its Russian ally in the intelligence war.   Whatever its reason, China did not use its considerable power in Hong Kong to block Snowden’s exit. 
    Nor did Snowden obtain a visa to any country in Latin America or elsewhere during his month-long stay in Hong Kong.  As in the oft-cited Sherlock Holmes’ clue of the dog that did not bark, Snowden’s lack of any visas in his passport strongly suggests that he had not made plans to go anyplace but where he went: Moscow. His actions here, including his contacts with Russian officials in Hong Kong, speak louder than his words.
Snowden chose, if he had any choice left at all, the Russian option.   Just as he believed Chinese intelligence could protect him in Hong Kong from the United States, he could assume that the FSB could protect him in Moscow from the United States. He was not entirely nave about its capabilities. During his service in the CIA, he had taken a month-long training course at the CIA’s “farm” at Fort Peary in which counterintelligence officer taught about the capabilities the Russian security services 

      To be sure, he might not have known that Moscow would be his final destination.   He may have naively believed that Russia would allow a defector from the NSA who claimed to have had access to the NSA’s sources in Russia and China leave Moscow before its security services obtained that information. But that was not to be.
It is not uncommon for a defector to change sides in order to find a better life for himself in another country. Some defectors flee to escape a repressive government or to find one in which they believe they are more closely attuned. But Russia is ordinarily not the country of choice for someone such as Snowden seeking greater civil liberties and personal freedom.   So why did Snowden choose Russia for his new life?


   The four choices that Snowden made in 2013 did not come out of the blue. They all were planned out well in advance.  He applied for the job to Booz Allen in February 2013, more than a month before leaving his job at Dell.  He applied to Booz Allen for his medical leave, although in fact he had no medical problem, a month before departing for Hong Kong.  He brought with him to Hong Kong enough cash to pay his living expenses, according to him, for the next two years. He arranged the encrypted channel with Poitras in February 2013, three months before he would induce her to come to Hong Kong.   He made contact with a foreign diplomatic mission at least a month before flying to Moscow and, at some point, met with Russian officials, who arranged a visa-less entry for him.  He called Assange in London to arrange for Wikileaks help, 13 days before departing to Moscow, and Assange accommodated him by laying down a smoke screen of decoy flights to facilitate his escape from Hong Kong and sending him a helper.  

    Taken together, these actions show that Snowden was determined to succeed where others before him had failed.  He not only wanted to take full credit for stealing files from the NSA but he wanted to escape any American retribution for his act.  His decision suggests to me a highly-intelligent, carefully calculating man who was hell-bent on finding a new life for himself in a foreign country.  There is a common thread that runs through these four choices.  It is a willingness to do whatever was necessary to achieve this new life, including disregarding his oath to protect secrets and instead transporting them on thumb drives to a foreign country.  To protect himself, he was also willing to rely on the influence of an adversary intelligence services in Hong Kong and put himself of the hands of Russian authorities in Moscow.  He also was willing to use some of his classified documents as a medium of exchange, if not bait, with journalist to get the public attention he sought.   These choices paid off for him.  The video presentation he partly authored changed his status in the eyes of the public from a document-stealer to whistle blower.  Against all odds, Snowden succeeded in transforming himself from a low-level computer technician working, without any public recognition at the NSA into an internationally-acclaimed spokesman against the NSA’s surveillance.  And in Moscow, he could enjoy a safe life, free from the threats of a CIA rendition team dropping from the sky or extradition proceedings. He was now under the protection of Putin’s Russia.  As far as Snowden was concerned, as he told Gellman of the Washington Post on December 21, 2013 in Moscow, “The mission’s already accomplished.” 








       CHAPTER TWENTY NINE
The Whistle Blower Who Became a Controlled Source



“The [U.S.] government’s investigation failed—that they don’t know what was taken”
      —Edward Snowden in Moscow




In Moscow I had learned that Russian intelligence services use the broad, umbrella term “espionage source” to describe moles, volunteers and anyone else who delivers another state’s secrets to it.  It applies not only to documents but to the secret knowledge that such a source is able to recall and includes both controlled and uncontrolled bearers of secrets.  It is also a job description that fitted Edward Snowden in June 2013.
     Unless one is willing to believe that the Putin regime acted out of purely altruistic motives in exfiltrating this American intelligence worker to Moscow, the only plausible explanation for its actions in Hong Kong was that it valued Snowden’s potential as an espionage source.   Snowden’s open disillusionment with the NSA presented the very situation that the Russian intelligence services specialized in exploiting.   He had also revealed to reporters in Hong Kong that he had deliberately gained access to the NSA’s sources and methods and he that he had taken to Hong Kong highly-classified documents. He further disclosed that, before leaving the NSA, he had gained access to the lists of computers that the NSA had penetrated in foreign countries. He even went so far as to describe to these journalists the secrets that he had taken as a “single point of failure” for the NSA. And aside from the documents he had copied, he claimed, it will be recalled, that he had secret knowledge in his head that, if disclosed would wreak havoc on the entire U.S. foreign  intelligence system.    “If I were providing information that I know, that’s in my head, to some foreign government, the US intelligence community would … see sources go dark that were previously productive, he told the editor of the Guardian in Moscow. 

In short, he advertised possessing precisely the priceless data that the Russian intelligence services had been seeking, with little success, for the past six decades. These electronic files could provide it with the keys to unlock the NSA’s entire kingdom of electronic spying.    Could any world-class intelligence service ignore such a prize? To miss the opportunity to gets in hands such a potential espionage source would be nothing short of gross negligence.
In fact, as has been already established in these pages, this golden opportunity was not missed in Hong Kong.  Even if the Russian intelligence service had not previously had him in its sights – which, as discussed in chapter XV, appears to me to be extremely unlikely-- he made contact with Russian officials in Hong Kong, and Putin, as he himself said, personally approved allowing Snowden to come to Russia.   Putin’s s decision no doubt set in motion the operation to exfiltrate him on Aeroflot, the state-controlled airline.
    We know that the Russian government acted in advance to facilitate Snowden’s trip from Hong Kong.  Without such an intervention, it would not be possible for an American without an entry visa to Russia, or, for that matter, any other country to check-in and board an Aeroflot flight to Moscow.  Aeroflot had to be instructed to allow Snowden on the plane without a visa. We also know that a special operation was mounted to take Snowden off the plane once it landed in Moscow.  Such an operation could not have been done without advance planning.  Nor would he be removed from the plane without a plan for his stay in Russia.   Since Putin himself has taken credit for authorizing Snowden’s trip to Russia, there is no reason to doubt that these plans, and whatever cover stories were deemed necessary, were approved at the highest level of the regime.
When an intelligence service makes such elaborate preparations for extracting a foreign intelligence worker, it presumably also expects to debrief him or her on arrival.  Pelton, for example, who had access to far less valuable information than had Snowden, was held incommunicado in Vienna for two weeks during his debriefing.  What would be inconceivable would be for an intelligence service to go to such lengths to bring a potential espionage source such as Snowden to Russia and allow him to catch the next plane to Latin America.   The false report provided to the press that Snowden was flying to Latin America was likely nothing more than a cover story to confuse foreign observers while he was receiving his initial debriefing and evaluation. 
    When it comes to the esoteric enterprise of reconstructing the work of U.S. signals intelligence, military as well as civilian experts in cryptology, computer sciences and communications are necessary.  Unlike in the case of Pelton, Snowden had secret material in his possession, at least according to Anatoly Kucherena. Even if Russian intelligence had already acquired copies of his electronic files prior to Snowden’s arrival in Moscow, Snowden’s interpretation of them would be part of the debriefing since intelligence data needs to put in context.  “This debriefing could not be done overnight,” according to a former high-ranking officer in the GRU, the Russian military intelligence service.   “There is no way that Snowden would not be fully debriefed,” he said.  He also said GRU specialists in signal intelligence would be called in.
We know that the Putin regime paid a significant price in terms of the cancellation of the pre-Olympics summit with Obama. Having to accept the onus of declining relations with the Obama administration, it is hard to believe that it didn’t attempt to get the bonus of signals intelligence from Snowden.  The GRU, SVR and other Russian intelligence services would not be denied the opportunity to y question Snowden until to all they had squeezed out of him whatever state secrets he had or knew during the 38 days that he had vanished from public sight.   Since Snowden was rewarded with sanctuary, a residence and body guards, there is no reason to doubt that he satisfactorily accommodated his interrogators.  While he might elect to continue believing that he a whistle-blower true to his ideals, as far as Russian intelligence was concerned, he was an espionage source.  /
 For an intelligence service, the game is not over when it obtains state secrets.  It still needs to fog over the extent of its coup, as far as possible, to prolong the value of the espionage.  Hence it is plausible that the story that Snowden had thoroughly destroyed all his data he stolen the prior month prior to departing for Russia as well as the story that he had turned down all requests to be questioned by the FSB and other Russian intelligence officials were part of his legend.  The repetitions of these uncorroborated claims in his press interviews also may have enhanced his public image for the ACLU effort to get clemency for him.  Even so, in view of the importance of such communication intelligence to Russia, it would be the height of naiveté for U.S. or British intelligence to accept such claims as anything more than part of the cover story.

 As for the Snowden’s motive, I see no reason to doubt Snowden’s explanation that he stole NSA documents to expose NSA surveillance that he believed was an illicit intrusion into the privacy of individuals.  Such disaffection is not a unique situation in the intelligence business.  Many of Russia’s espionage sources before Snowden were also dissatisfied employees who had access to classified secrets.  Like some of them, Snowden used his privileged access to blow the whistle on what he considered to be the improper activities of the organization for which he worked.   In that sense, I fully accept that he began as a whistle-blower, not as a spy. It was also as a whistle-blower that he contacted Laura Poitras, Glenn Greenwald and Barton Gellman, who published  the scoops he provided in the Guardian, Der Spiegel and Washington Post,        
Snowden’s penetration went beyond whistle-blowing, however. He copied a vast number of electronic files, including the level 3 files that contained the NSA’s most sensitive sources and methods.  While these files had little, if anything, to do with domestic surveillance or whistle-blowing, they gave him the sense of power he demonstrated in asserting that he could make all of U.S. communication intelligence “go dark” all over the world.  We know from Kucherena that he did not share part of data with journalists.  Instead, he took it to Russia.
As far as carrying out the most damaging part of the operation, he could not have acted entirely alone.  It will be recalled that the deepest part of his penetration was during the five weeks he worked at the National Threat Operations Center in Hawaii as a contract employee of Booz Allen Hamilton.  It was there that he copied level 3 files, including the so-called road map to the gaps in American intelligence. During this period, as discussed in Chapter III, Snowden had neither the passwords nor system administrator’s privileges that would allow him to copy, transfer and steal the electronic files.  He therefore must have obtained that assistance from some who had the passwords and privileges.  Even if that reality does not sit well with the NSA administration, there is no reason to assume that Snowden was the only disgruntled employee at that NSA facility in 2013. That a dozen or so NSA co-workers attended his anti-surveillance Crypto party in 2012 shows that others shared his sensibilities and antipathy towards NSA surveillance.  It therefore seems plausible to me that he found a co-worker willing to cooperate, or vice versa, a co-worker found him. To be sure, Snowden might not have been aware of his new accomplice’s true motives or affiliations. But without some co-worker providing him with entry to the sealed-off computers, he could not have carried out the penetration. To our knowledge, whoever helped him evidently did not want to expose himself to prosecution or defect from the NSA.  That was Snowden’s role. By accepting the sole blame in the video that Poitras made about him in Hong Kong, Snowden shielded  anyone else from suspicion, which was, as he told Poitras, his purpose,  Whoever helped him may still be working at the NSA.  
  To be sure, there remains another glaring gap in the chain of events that led Snowden to Moscow: his whereabouts and activities during his first eleven days in Hong Kong.  Mike Rogers, the chairman of the House Select Committee on Intelligence, even speculated that Snowden might have been taken to mainland China during this period.  What drove his speculation was the admission of U.S. intelligence that, despite its vast global resources for searching credit card charges, banking transactions, hotel registrations, emails, police records and even CCTV cameras, neither it, nor its allies, were able to find a trace of Snowden.  It was, in a phrase later made famous by former Secretary of Defense Donald Rumsfeld. “A known unknown.”  Yet there provided no basis to speculate that he was in mainland China.  He could have been staying in a well-prepared safe-house anywhere in Hong Kong or even at the home of an unknown associate.  All that is really known is that soon after he emerged from this venue and gave his celebrated interview to journalist he was aboard an Aeroflot plane bound for Moscow where he would become, if he was already, a potential espionage source for Russia.
Whatever his initial motivation may have been, Snowden’s actions would appear squarely at odds with his assertions of serving his country’s interests.  Even accepting that he began with a sincere desire to be a world-class whistleblower, his mission evolved, deliberately or not, into one that led him to disclose key communications intelligence secrets to a foreign power with an agenda that can hardly be aligned with his country’s interests.   In the end, it is Snowden’s actions, not his words that matter.




                                  EPILOGUE


                         THE SNOWDEN EFFECT




CHAPTER THIRTY 
The Consequences for the ‘War on Terrorism’ “

“Because of a number of unauthorized disclosures and a lot of hand-wringing over the government’s role in the effort to try to uncover these terrorists, there have been some policy and legal and other actions that make our ability collectively, internationally, to find these terrorists much more challenging.”

                          CIA Director John Brennan in response to the Paris attack, November 2015



In the evening of November 13, 2015, normal life in Paris was brought to a screeching halt by nine Jihadist terrorists acting on behalf of ISIS.  Three blew themselves up at the stadium at Saint-Denis, where President Hollande was attending a match between France and Germany, while the others shot killed 130 people at cafes, restaurants and a theater.  388 others had been wounded in the carnage.  The attack was planned over many months by Abdelhamid Abaaoud, a 28-year old Belgium citizen of Moroccan origins, who served ISIS as a logistics officer in Syria in 2014.  To organize the attack, he smuggled three suicide bombers into Europe through Greece, raise financing, set up a base in the Molenbeek section of Brussels, import deactivated assault weapons from Slovenia (which then had to be restored by a technician), buy ammunition, acquire suicide vests, obtain “burner” cell phones, rent cars and make on-line 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. 
Those Paris attackers who did not kill themselves with their suicide vests were killed by the police, but the real challenge in such a terrorist operation is not bringing culprits to justice after the massacre civilians.  It is preventing them from carrying it out.  As “soft targets,” such as restaurants, cafes, theaters and street gatherings, cannot be continually protected by police, the only practical means by which a government can prevent such attacks is to learn in advance about their planning and preparations.   One means of acquiring this information is by listening in on the channels through which members of loosely-knit terrorists organizations, such as ISIS, communicates with one another.  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 deliberately compromised three programs that it used to keep track of terrorist organizations around the world.  The first system he divulged, and the one which though it received the most public attention, did the least damage, was what the NSA called the 215 program because it had been authorized by section 215 of the Patriot Act of 2001.  This program amassed, the billing records of every phone call made in America that could be used as a data base by the FBI.  The idea was that when any foreigner on the FBI’s watch list of terrorists called anyone in the U.S. the FBI could trace that person’s entire chain of telephone contacts to try to determine if he was connected to a terrorist cell.  There was, however, a major flaw in this program: it did not cover e-mail and other Internet messaging, which 2013 had largely replaced telephone calls.   In addition, terrorist organizations had become fully aware of the vulnerability of telephoning overseas.  So although the NSA could cite a handful of early successes that “215” yielded, Snowden’s exposure of it did only limited damage/

    But Snowden did not stop with “215.” He next did vastly more damage by exposing the PRISM program also called “702” since it was authorized in 2007 by section 702 of the Foreign Intelligence Surveillance Act.)  Since a large part of the fiber cables on which the world’s  Internet runs pass through the United States, the NSA was able to intercept  91 percent of its data, including Google searches, social media postings, Skype conversations, messages on Xbox Live, Instant messaging services, tweets on Twitter and e-mails. The CIA and FBI could then track the movements of foreign terrorists.  Up until June 6, 2014, terrorist groups presumably were unaware of the NSA’s capacity to vacuum in even encrypted parts of the Internet since they used it for their lethal planning.   This ignorance gave U.S intelligence an important edge in pre-empting terrorist actions.   According to the testimony of General Alexander, data intercepted under PRISM helped detect and thwart no fewer than 45 terrorist attacks prior to Snowden’s making this capability known.

The third NSA program of interest to Jihadists that Snowden revealed was called XKeyscore.  Using Internet data from PRISM, it created the equivalent of digital fingerprints for suspected foreign terrorists based on their search patterns on the Internet.   This made it difficult for a terrorist suspect to hide on the Internet.  He might attempt to evade surveillance by using a different computer and another name but, unknown to him, the XKeyscore algorithms would continue to track him under his new alias.

To even further enable furtive Internet users evade surveillance, Snowden provided in an interview specific data about the secret sources and methods used both the NSA and British GCHQ.  He revealed, for example that the GCHQ had deployed the first ""full-take"" Internet interceptor that “snarfs everything, in a rolling buffer to allow retroactive investigation without missing a single bit.”    When asked how to circumvent it, he replied: “you should never route through or peer with the UK under any circumstances. Their fibers are radioactive, and even the Queen's selfies to the pool boy get logged.”   Aside from this warning about using Internet providers whose wiring passes through Britain, he also warned Internet users against using  the services of American  Internet companies since the NSA considered “telecom collaborators to be the jewels in their crown of omniscience. “  Snowden also suggested that to avoid being automatically “targeted” by the NSA, one should avoid “jihadi forums.”  These tips for evading U.S. and British surveillance, far from being an off-hand leakage of information, were supplied by him in written answers to interrogatives sent to him by Laura Poitras and Jacob Appelbaum while Snowden was still on the NSA payroll in May 2013.  If he intended to damage the NSA’s ability to monitor unsuspecting individuals abroad, he clearly succeeded.  Just as Robert Hanssen had compromised the NSA’s interception of communication at the Soviet Embassy in the 1990s, Snowden compromised the NSA’s interception of Jihadist targets on the Internet.

   The Snowden intervention was soon felt by the CIA.  “Within weeks of the leaks,” writes Michael Morell, then CIA deputy director.  He notes that “Terrorist organizations around the world were already starting to modify their actions in light of what Snowden disclosed.  Communication sources dried up.”  What heightened Morell’s concern about this loss of intelligence sources was the discovery a 26-page document on an ISIS computer in Syria indicating that the terrorist group had been considering using plague germs and other biological weapons on foreign targets.  The NSA was also seeing the Snowden effect on the war on terrorists.  In 2013, the FBI, CIA, and DIA had compiled a watch list of some 400 foreign terrorist targets for NSA’s PRISM program.  Up until June 6th, many of these targets frequently used Internet services, such as Twitter, Facebook, and Xbox live, to send what they believed would be hidden messages.  After the PRISM story broke in the Washington Post on June 6th, the NSA “saw one after another target go dark,” according to a senior executive involved in that surveillance.  In 2014, Admiral Rogers, the new NSA director, was even blunter.  Asked whether or not the disclosures by Snowden had reduced the NSA’s ability to pursue terrorist, he answered: “Have I lost capability that we had prior to the revelations? Yes.”

   In Moscow, Snowden insists that not a single death has been traced back to his disclosures.  I agree that it would be unfair to jump to the conclusion that he is responsible for any single event, such as the massacre in Paris in November 2015, because we cannot know whether or not a jihadist involved in the event, such as Abdelhamid Abaaoud in the case of Paris, would have used the Internet if Snowden had not exposed the interception of it by the NSA.  But however sincere were his intentions, Snowden cannot escape his responsibility for his actions. He totally and purposefully compromised an intelligence operation that could prevent such villainous attacks.





//


CHAPTER THIRTY-ONE                 
The Consequences for America: The Good, the Bad and the Ugly

 [TK]




END NOTES

Prologue
On The Trail of Snowden



  1.   “No Such Agency”—The best description of the birth of the NSA can be found in James Bamford, The Puzzle Palace, Houghton Mifflin Company, Boston, 1982, pp. 1-4


  2.   “the NSA learned …”—Author Interview with General Keith Alexander


  3.  “12 minute video …”—This extraordinary video can be seen at http://www.theguardian.com/world/video/2013/jun/09/nsa-whistleblower-edward-snowden-interview-video
/	All of the dozens of video Snowden made after this initial one can be viewed in chronological order at: https://nsa.gov1.info/dni/snowden.html

  4.  “I had written several books …”_-- My first book, Inquest: The Warren Commission and the Establishment of Truth, (Viking Press, New York 1966) examined the failure of the FBI, Secret Service and CIA to establish the context of the John F. Kennedy Assassination.  This interest continued on other of my books, including  Deception: The Invisible War Between the KGB and the CIA (Simon and Schuster, New York, 1989), in which I  investigated the vulnerability of intelligence services involved in espionage during the Cold War;  Agency of Fear (G.P. Putnam’s Sons, New York, 1977), in which I explored intelligence failures of domestic intelligence in the war on drugs; and James Jesus Angleton: Was He Right (Fast Track Press/EJE Publications, New York 2011).



  5.  “extraditing Trent Martin …”—The FBI press statement on this case was released March 27, 2013, less than two months before Snowden bought his ticket for Hong Kong. https://www.fbi.gov/newyork/press-releases/2013/australian-research-analyst-extradited-on-insider-trading-charges


  6.  “It’s very mysterious …”—Author’s interviews, Michael Hayden


  7.  “My first surprise …” -- I interviewed 6 members of the Mira staff, all of whom asked me not to identify them. Te-Ping Chen, a journalist for the Asian edition of the Wall Street Journal, also received some similar replies when she interviewed Mira hotel employees the day Snowden left the Mira.  Te-Ping Chen and Ken Brown, “Snowden’s Options for Refuge Narrow,”  Wall Street Journal, June 10, 2013


  8.  “He sent journalist Glenn Greenwald …”—Greenwald’s description of his encounters with Snowden is taken mainly from Chapter I, “Contact his book,” and Chapter II “Ten Days in Hong Kong” of his book. See Glenn Greenwald, No Place to Hide, (Metropolitan Books, New York) 2014, pp7-32.


  9.  “directly contacted via email…”—See Barton Gellman and Laura Poitras, “Code Name Verax: Snowden, in exchange with Post reporter, made clear he knew risks, 
Washington Post, June 9, 2013



  10.  “He proposed we meet…”—Author’s interview with Keith Bradsher.  Bradsher wrote a number of excellent articles about Snowden and Ho. See Keith Bradsher, “Hasty Exit Started With Pizza Inside a Hong Kong Hideout.” New York Times, June 24, 2013
       11.  “Appointment with Robert Tibbo…”==Author’s interviews with Tibbo.

       12.  “Meet with me on condition…”—this source, as well as many others in the investigation, spoke to me on condition that I did not identify them by name.

     Chapter I

     The Great Divide

          1.  CitizenFour can be seen in its entirety on-line at https://thoughtmaybe.com/citizenfour/

          2.  “Sitting on his unmade bed…”— George Packer, “The Holder of Secrets,” New Yorker, October 20, 2014


     3.  “This powerful narrative…” See Greenwald, op. cit. pp. 248-254. Snowden “Trapped: Interview with Brian Williams, May 28, 2014, http://www.nbcnews.com/feature/edward-snowden-interview

          4.  “When two NSA analysts…”—“Claim US Spy Caught with Secrets.” Los Angeles Mirror, p.1, August 2, 1960. Also see, Rick Anderson,, “Before Edward Snowden,” Salon, July 1, 2013


          5.  “Man up”—Interview with John Kerry, CBS This Morning (TV), May 28, 2014

     6.   “British cyber service GCHQ …”—RT Television report “NSA, GCHQ targeted Kaspersky, other cyber security companies.”  http://www.rt.com/usa/268891-nsa-gchq-software-kaspersky/



     7.   “He posted about it…”—Snowden’s wrote in chat rooms on the Ars Technica site between May 2001 and May 2012.  His posts are quoted by Joe Mullins, “NSA leaker Ed Snowden’s life on Ars Technica,” Ars Technica, June 13, 3013. (Hereinafter cited as Ars Technica report.)  http://arstechnica.com/tech-policy/2013/06/nsa-leaker-ed-snowdens-life-on-ars-technica

          8.  “Ben Wizner, a lawyer…”-- Wizner called his representation of Snowden the “work of a lifetime.”  Kashmir Hill, “How ACLU Lawyer Ben Wizner Became Snowden’s Lawyer,” Forbes, March 10, 2014.


     9.  “Six government employees…”   Matt Apuzzo, “C.I.A. Officer Is Found Guilty in Leak Tied to Times Reporter,” New York Times, January 26, 2015. The notable exception to policy of seeking imprisonment of intelligence workers found guilty of passing classified information to journalist is the extraordinary case of ex-CIA director General David Petraeus.  General 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 information.  Yet, in a 2014 deal with the Justice Department, General 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 http://www.bloombergview.com/articles/2015-03-04/petraeus-justice-and-washington-s-culture-of-leaks   
          10.  In an interview in Moscow…”—Snowden met with James Bamford, the author of the 1982 book The Puzzle Palace. In Moscow in June 2014. James Bamford. “Edward Snowden: The Untold Story,” Wired, August 2014. (Hereinafter Bamford Wired.)



          11.  “We’ve crossed lines.”  --- Snowden quoted by Bamford, Wired


     12.  “Congressman Ron Paul organized…”—Rebecca Shabad, “Former Rep. Ron Paul launches petition for Snowden clemency,” The Hill, February 13, 2014.  “Rand Paul” support, see Katie Gluck, “Rand Paul Backs Snowden,” Politico, January 5, 2014
     13.   “We actually buy cell phones…”  Snowden quoted in “New Guardian Interview with Edward Snowden,” Guardian, July 17, 2014. http://www.activistpost.com/2014/07/new-guardian-interview-with-edward.html
          14.  “Dominique Strauss-Kahn….”—Edward Jay Epstein, “What Really Happed To Strauss-Kahn” New York Review of Books, December 22, 2011
          15.  “Consumer Financial Protection Bureau...”—Newt Gingrich, “A Government Snoop That Puts the NSA to Shame,” Wall Street Journal, July 7, 2015  

          16.  “The FISA court…”  The history of the FISA court is a matter of public record. http://www.fjc.gov/history/home.nsf/page/courts_special_fisc.html

          17.  ‘Let’s collect the whole haystack, ”-- Ellen Nakashima and Joby Warrick, “For NSA chief,  Terrorist Threat Drives Passion to ‘collect it all,” Washington Post,  July 14, 2013


          18.  “Second U.S. Circuit Court of Appeals…”—Charlie Savage and Jonathan Weisman. “NSA Collection of Bulk Data Ruled Illegal.” New York Times, May 5, 2015.  This court decision was stayed three months later on August 27, 2015 by a 3-judge panel of the U.S. Court of Appeals on procedural grounds.  By this time, however, the legal issue was rendered moot by Congress.  See http://law.justia.com/cases/federal/appellate-courts/ca2/2015/


          19.  “This program was not entirely secret…” Timothy B. Lee, “Here Is Everything We Know About Prism to Date,” Washington Post, June 12, 2013


          20.  “. By the Lawfare Institute’s count,” https://www.lawfareblog.com/snowden-revelations 

    21. “Edward Snowden is not the ""whistleblower"" …”--   “NSA Director Adm. Michael       Rogers discusses freedom, privacy and security issues at Princeton University,” http://www.nj.com/mercer/index.ssf/2015/03/nsa_director_admiral_michael_rogers_during_princet.html

    22. “Snowden stole from the United States.” Mark Hosenball, “U.S. Spy Agency Targets    Changed Behavior after Snowden,” Reuters, May 12, 2014

     23. ""The vast majority of the electronic documents…”—“Snowden Leak Could Cost   Military Billions: Pentagon,” NBC News, March 6, 2014

     24.  “Has caused grave damage to our national security.”—Hearings Before Senate Select Committee on Intelligence, January 27, 2017, See: http://www.dia.mil/News/SpeechesandTestimonies/ArticleView/tabid/11449/Article/567078/dia-director-flynn-unauthorized-disclosures-have-caused-grave-damage-to-our-nat.aspx
     25. “John Walker”— See “The Spy Cases,” Appendix A of this book.

     26. “The CIA’s assessment was no less grim…”—Michael J. Morell, The Great War of our Time, Twelve. New York 2015. P.298

     27. “The greatest damage to our combined nations’ intelligence systems.” Transcript of Interview with General Keith Alexander, Australian Financial Review, May 8, 2014.

     28. “Act of treason…” ---Jeremy Herb and Justin Silk. “Sen. Feinstein Calls Snowden’s NSA Leaks “Act of Treason,” The Hill, June 6, 2013

     29.” Rep. Mike Rogers….” Tim Curry, “House Intelligence Chair Hints at Russian Help in Snowden Leaks,” January 18, 2014. NBC News http://www.nbcnews.com

     30. “Were briefed by David Leatherwood…”—See “Unclassified Declaration of David G. Leatherwood,” U.S. DISTRICT COURT FOR THE DISTRICT OF COLUMBIA.Case 1:10-cv-02119-RMC Document 63-8 Filed 04/26/13, https://www.fas.org/sgp/jud/shaffer/042613-leather.pdf

     31. “William Martin and Bernon Mitchell”—See the Spy Cases,” Appendix A of this book.

     32.”Fact and Fable in Psychology,” Joseph Jastro, Fact and Fable in Psychology, Houghton Mifflin and Company, Boston, 1900, pp.202-204

     33. “I haven’t shot anybody…”  Statement Analysis: “The Last Words of Lee Harvey Oswald.” http://www.statementanalysis.com/lee-harvey-oswald/
     Like Snowden, Oswald was a high school dropout from a broken family who joined an elite unit of the U.S military but failed to get an honorable discharge, became hostile to policies of the U.S. government and defected to Russia.  See Edward Jay Epstein, Legend: The Secret World of Lee Harvey Oswald, McGraw-Hill Book Company, (New York, 1978) pp.64-104

     34. “He gave her his word.” Snowden emails to Laura Poitras, see: http://www.wired.com/2014/10/snowdens-first-emails-to-poitras/


     35.”a bodyguard of lies…”— Churchill wrote “In wartime, truth is so precious that she should always be attended by a bodyguard of lies” in the fifth volume of his autobiography Closing the Ring, (Houghton Mifflin, 1951)
     36. “Clapper answered that the NSA…”—the transcript was published by the Washington Post, January 29, 2014.  For Clapper’s earlier closed door testimony, see Stephen Aftergood, “The Clapper Lie and the Senate Intelligence Committee,” FAS. January 6, 2014, https://fas.org/blogs/secrecy/2014/01/clapper-ssci/


  37.  “On his application to Booz Allen…” -- Mark Hosenball, “NSA contractor hired Snowden despite concerns about resume discrepancies,” Reuters, June 20, 2013
  38.  “Read in” new reports…”—Snowden Q&A, Moscow July 12, 2013, https://www.youtube.com/watch?v=yNQSVurlAak
  39.   ABC News reported…”--James Gordon Meek, Kirit Radia, Leezel Tanglao and Dean Schabner, “NSA Leaker Edward Snowden Seeks Asylum in Ecuador,” ABC News, June 23, 2013. http://abcnews.go.com/International/nsa-leaker-edward-snowden-seeks-asylum-ecuador/story?id=19466318


  40.  “Read in the media…”—Snowden Q&A, Moscow July 12, 2013, https://www.youtube.com/watch?v=yNQSVurlAak




     38. “Morell would go no further…”-- Michael J. Morell, the Great War of our Time, Twelve. New York 2015. P.284

     39.”Angleton…” See Appendix A. “my book on deception…” Edward Jay Epstein, Deception: The Invisible War Between the KGB and the CIA (Simon and Schuster, New York), 1989

     40. “The Enigma machines…”—Hugh Sebag-Montefoire, Enigma: the Battle for the Code (John Wiley and Sons, New York), 2001, pp 286-294
     CHAPTER TWO
     The Crime Scene Investigation


          1.  “Any private contractor…”—Snowden Interviewed by Brian Williams, NBC, May 28, 2014 (Hereinafter Snowden NBC Interview.)
          2.  “About 15 miles….”—U.S. Navy Information Operations Command, “History of NIOC Hawaii”, http://www.public.navy.mil/fcc-c10f/niochi/Pages/AboutUs.aspx
          3.  “Keith Alexander, the four-star general who headed…”—Author’s Interview with Keith Alexander
          4.  “The NSA meanwhile notified the FBI…”— Author’s interview with anonymous source A, a former government intelligence executive familiar with the initial investigation.
          5.  “Within the next few days…” …”— Author’s interview with anonymous source A, a former government intelligence executive familiar with the initial investigation.
          6.  ”Copied “over 900,000” military files…”—the document was obtained via a Freedom of Information request by VICE.  See Jason Leopold, “Inside Washington's Quest to Bring Down Edward Snowden,” Vice, June 4, 2015
          7.  “NSA did not immediately share with the CIA….” Morell, op.cit. pp. 283-288
          8.  “By late July, NSA investigators…”-- Author’s interview with anonymous source B, a former government intelligence executive familiar with the initial investigation.
          9.  “They could walk out the door,” Snowden interview, German NDR TV, January 26, 2014. http://www.tagesschau.de/snowden-interview-englisch100.pdf
          10.  “According to Ledgett, the perpetrator…”Tabassum Zakaria and Warren Strobel, “After 'cataclysmic' Snowden affair, NSA faces winds of change,” Reuters December 13, 2013
          11.  “the analysis of the logs,” Author's interview with Source A

          12.  Services’ “black budget…”-- Morell .op.cit. p. 285
               13.  “Something is not right,” Alexander…”--“Interview transcript: General Keith Alexander,” Australian Financial Review. http://www.afr.com/technology/web/security/interview-transcriptformer-head-of-the-nsa-and-commander-of-the-us-cyber-command-general-keith-alexander-20140507-itzhw#ixzz3m6TkuRa1 
          14.  “This discovery came when…”—Guardian staff, “Glenn Greenwald's partner detained at Heathrow airport for nine hours, Guardian, August 18, 2013


          15.   “What we know, what we don’t know…”-- Bryan Burroughs, Sarah Ellison and Suzanna Andrews. “”The Snowden Saga, Vanity Fair, May 2014. (Hereinafter “The Snowden Saga.”)

          16.  “Discussed the chronology of the copied documents…” – Author’s Interview with Source A

          17.  “Down-loading documents for some 10 months…” Ledgett was interviewed in this time-line by Bryan Burroughs. See “The Snowden Saga, Vanity Fair, May 2014
          18.  “ Snowden had not yet completed his…” – Author’s Interview with Source A
          19.  “FBI faced a dilemma…”-- Author’s Interview with a former Justice Department official with knowledge of the Snowden case, hereinafter Source C.
          20.  “Pandora’s Box…”-- Author’s Interview with a Congressional aide with knowledge of investigation, hereinafter Source D.
          21.   “Guy Burgess, Donald Maclean and Kim Philby, See “The Spy Cases,” Appendix A of this book.
          22.  Intention of staying in Russia…”-- Snowden NBC Interview. Op cit.  Bamford, Wired. Op. cit.   Jane Mayer “Snowden Calls Russian-Spy Story “Absurd” in Exclusive Interview,” New Yorker, January 21, 2014. December 28, 2014.
          23.  “State Department revoked…”- Author’s interview with a former member of the National Security staff who cited State Department records. Also, Jen Psaki, the State Department spokeswoman, told AP ""As is routine and consistent with US regulations, persons with felony arrest warrants are subject to having their passport revoked,"" That arrest warrant was issued on June 14, 2013. The State Department Operations Center alert said “Snowden's U.S passport was revoked on June 22, 2013” after the Justice Department unsealed the charges that had been filed in the U.S. District Court for the Eastern District of Virginia on June 14, 2013. “The Consul General in Hong Kong confirmed Hong Kong authorities were notified that Mr. Snowden's passport was revoked on June 22,” according to the State Department's senior watch officer. 
          24.  “Putin had personally approved…”—Jennifer Martinez, “Report: Snowden Passport Revoked,” The Hill, June 23,2013


          25.  “CIA also had reports…”—Morell .op.cit. pp284-5


          26.  “Putin gave a lengthy interview…”—Interview Channel One. http://en.kremlin.ru/events/president/news/19143


          27.  “Snowden’s lawyer Tibbo…”—Author’s interview with Robert Tibbo in Hong Kong


          28.  “When Snowden first met Greenwald…”—Greenwald, op cit. p.35


          29.  “Lewd photographs of foreign suspects…”—Snowden interview, “Last Week Tonight with John Oliver: Surveillance,” HBO ,April 6, 2015, http://www.thejournal.ie/edward-snowden-says-the-us-can-look-at-nude-photos-2032314-Apr2015






     CHAPTER THREE

     Tinker

            1.  “You get exposed to a little bit of evil…” Bamford. Wired. op. cit
            2.  “Lon Snowden, like his father …”—The best reporting on Snowden’s childhood was done by Suzanne Andrews. See: Bryan Burroughs, Sarah Ellison and Suzanna Andrews. “”The Snowden Saga, Vanity Fair, May 2014.
            3.  “Snowden, alone, stayed home…”—Author’s interview with Joyce Kinsey.
            4.  “Posting under the alias The TrueHooHa…”--Ars Technica Report. Op. cit.
            5.  “Brad Gunson, who knew him….”-- Carol D. Leonnig, Jenna Johnson and Marc Fisher, “Who Is Edward Snowden,” Washington Post, June 15, 2013

            6.  “To Anime conventions …”—Christopher Johnson, “Chatting about Japan with Snowden, Japan Times, June 18, 2013.
            7.  “His “body fat percentage to between…”— Carol D. Leonnig, Jenna Johnson and Marc Fisher, “Who Is Edward Snowden,” Washington Post, June 15, 2013
            8.  “I’ve always dreamed…”-- Ars Technica Report. Op. cit
            9.  “Admiral Edward J. Barrett…”—Coast Guard Biography, http://www.uscg.mil/history/people/Flags/BarrettEBio.pdf, Also, For his FBI career, see http://www1.umn.edu/humanrts/OathBetrayed/FBI%2047.pdf
            10.  “Army records show…”—Author’s interviews.  US Army spokesman George Wright stated Snowden was enrolled in program between May 7, 2004 and September 28, 2004. Spokesman Colonel David Patterson said ""He attempted to qualify to become a Special Forces soldier but did not complete the requisite training and was administratively discharged from the Army,""
            11.  “He took a job as a security guard…” – “The Snowden Saga,” Vanity Fair.op.cit.
            12.  “So sexxxy it hurts”—The information about Snowden’s modeling career comes from his posts on Ars Technica.  See “Ars Technica Report,” op.cit.
            13.  “Jonathan Mills, Lindsay’s father…”— Daniel Bates, “Snowden totally abandoned his girlfriend when he fled amid NSA revelations, her dad says,” Daily Mail, January 17, 2014.  The information about Lindsay Mills comes from her Twitter and Instagram postings.
            14.   “The CIA’s minimum requirements in 2006///”  CIA website, https://www.cia.gov/careers/application-process
            15.  “Deputy Director Ledgett…” is quoted in “The Snowden Saga, Vanity Fair, op.cit.
            16.  “He pointed out from Moscow…”—Snowden interview with Brian Williams. NBC Interview, op.cit.
               CHAPTER FOUR
               Secret Agent

               1.  “An hour-long NBC television interview….” Williams. NBC    Interview, op.cit.
               2.  “Part of a 12 man team…”-- Author’s Interview with former CIA officer who requested anonymity (Hereinafter Source E.)
               3.  “The only person there to…”—Mavanee Anderson interview, “Edward Snowden's Friend Mavanee Anderson Exclusive Interview,” MSNBC,”Last Word,” www.youtube.com/watch?v=beQUMdolBWE  
               4.  “He received an unfavorable evaluation,,,”—Eric Schmitt, “C.I.A. Warning on Snowden in ’09 Said to Slip Through the Cracks, New York Times, October 10, 2013
               5.  “It was not a stellar…”—Author’s interviews with Tyler Drumheller
               6.  “Snowden’s superior had suspected…”-- Eric Schmitt, “C.I.A. Warning on Snowden in ’09 Said to Slip Through the Cracks, New York Times, October 10, 2013
               7.  “The discrepancy was explained…”—Author’s interview with Source E.
               8.  “Snowden blamed his career-ending…”— Snowden was interviewed via the Internet by James Risen, James Risen, “Snowden Says He Took No Secret Files to Russia,” New York Times, October 17, 2013
               9.  “NSA experts who examined…”—Snowden interview with James Bamford. Wired, op.cit.
               10.  “Snowden later told Vanity Fair”—“The Snowden Saga,” Vanity Fair.op.cit.
               11.  ""I realized that I was…”—Glenn Greenwald, Laura Poitras and Ewen MacAskill, “Edward Snowden: the whistleblower behind the NSA surveillance revelations,” Guardian, June 9, 2013

CHAPTER FIVE
Contractor

     1.  “Much of what I saw in Geneva…”-- Glenn Greenwald, Laura Poitras and Ewen MacAskill, “Edward Snowden: the whistleblower behind the NSA surveillance revelations,” Guardian, June 9, 2013

     2.  “This “free pass,” as …”—Author’s Interview with Tyler Drumheller

     3.  “So the guy with whom the CIA…:-- Morell. Op.cit. p. 284

     4.  “His initial job for Dell…”—“The Snowden Saga,” Vanity Fair, op,cit.

     5.   The information about Lindsay comes from her postings on Instagram and her blog “LS Journey.”  https://twitter.com/lsjourneys.  The information about her and Snowden’s travel to Mount Fuji and other places in Japan come from the Little Red Ninja blog written by Jennie Chamberlin. https://www.facebook.com/Little-Red-Ninja-214045021941347/timeline/

     6.  “He attempted to get a …”—Mark Hosenball, “NSA contractor hired Snowden,” Reuters, June 11, 2013.

     7.  “System code-named EPIC SHELTER,” --“The Snowden Saga,” Vanity Fair, op,cit.

     8.  “Since most of the classified…”—Author’s interview with Source A

     9.  “Spotted a major flaw….”—Snowden interview with Bamford in 2014. See Bamford Wired, op.cit.

     10.   “I actually recommended they…”—ibid.

     11.  “Snowden made a ten day…”—Shane Harris, “What Was Edward Snowden Doing in India?” Foreign Policy, Jan 13, 2014. Also, Shilpa Phadnis, “Edward Snowden sharpened his hacking skills in Delhi.” Times of India, December 4, 2013

     12.  ““It is a dead end…” Author’s interview with a former Booz Allen employee, who requested anonymity.  (Hereinafter referred to as Source F.)

     13.  “Shaded by a Sakura tree…:-- The description of Snowden’s life in Maryland come entirely from Lindsay Mill’s Internet postings. “LS Journey.”  https://twitter.com/lsjourneys.

     14.  ""They [the NSA] are intent …”-- Glenn Greenwald, Laura Poitras and Ewen MacAskill, “Edward Snowden: the whistleblower behind the NSA surveillance revelations,” Guardian, June 9, 2013

     15.  “None of whom took any action…”--Andrea Peterson, “Snowden: I raised NSA concerns internally over 10 times before going rogue,” Washington Post, March 7, 2014.  The NSA’s response came from NSA spokesperson, Vanee Vines—Author’s Interview.

     16.  “US Investigations Services, or USIS…”-- Dion Nissenbaum, “U.S. Gives New Contract To Firm That Vetted NSA Leaker Edward Snowden,” Wall Street Journal, July 2, 2014l.  For history, see https://en.wikipedia.org/wiki/USIS_(company)



CHAPTER SIX
Thief

          1. “In Hawaii in 2012…”—Author’s interview with former Dell executive who requested anonymity because of company policy about Dell employees discussing the Snowden case.

          2. “Living in paradise…” Glenn Greenwald, Laura Poitras and Ewen MacAskill, “Edward Snowden: the whistleblower behind the NSA surveillance revelations,” Guardian, June 9, 2013

          3. “You’re in a vaulted space…”—Transcript of interview with Snowden in Moscow. “I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan Rusbridger, The Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript

          4. “Law is a lot like medicine …”-- David Weigel, “Edward Snowden and Ron Paul Kick Off Libertarian Student Conference,” Bloomberg News, February 13, 2015. For Ron Paul position on “secret government, see http://www.presstv.ir/Detail/2015/06/02/413952/US-Ron-Paul-CIA-NSA-secret-government

          5. “Fear and a false image…”—Bamford Wired, op. cit.
          6. “Snowden was fully aware…”—James Risen email interview with Snowden in Moscow.  James Risen, “Snowden Says He Took No Secret Files to Russia,” New York Times. October 17, 2013 (Hereinafter referred to as Risen interview)
          7. “Called “Physical Phatness,” Lindsay Mills’ Facebook page. https://www.facebook.com/lindsay.mills.90/about

          8.” It was the first known document…”—Ledgett revealed this in an in interview with Vanity Fair.  “The Snowden Saga,” Vanity Fair, op. cit  
          9.” Whatever his motive, he…”  Snowden’s obtaining the NSA examination is described by Michael McConnell. See Rachael King, “Ex-NSA Chief Details Snowden's Hiring at Agency, Booz Allen,” Wall Street Journal, February 4, 2014.  The extended video of interview is at: www.wsj.com/articles/SB10001424052702304626804579363651571199832 
          10 “It was totally unrealistic…”-- Author’s interview with source B
          11.”Subsequently joking to a reporter,” Bamford Wired. op.cit 



CHAPTER SEVEN
Crossing the Rubicon

          1. “What I came to feel…”—Snowden quoted in “I, Spy: Edward Snowden in Exile,”Ewen MacAskill and Alan Rusbridger, The Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript

          2. “Deputy Director Ledgett explained…”--“The Snowden Saga,” Vanity Fair, op. cit

          3.  “Such real-time auditing…”—Author’s interview with source B

          4. “As he pointed out…”—Bamford. Wired/ op.cit

5.”Was still working at Dell…”-- “The Snowden Saga,” Vanity Fair, op. cit

6 “This 2012 theft was made…”—Author’s interview with Michael Hayden

7.” “I crossed that line…”--“The Snowden Saga,” Vanity Fair, op. cit

           8. “We’re subverting our security…”—Transcript Snowden ‘interview on PBS. James Bamford and Tim De Chant, “Edward Snowden on Cyber Warfare,” Nova, January 8. 2015. www.pbs.org/wgbh/nova/next/military/snowden-transcript

          9.”Bragged to James Risen…”-- James Risen, “Snowden Says He Took No Secret Files to Russia,” New York Times. October 17, 2013

          10. “Torment of Secrecy..”—Edward Shils, book The Torment of Secrecy: The Background and Consequences of American Security Policies, (Free Press, Chicago), 1956. Passim

          10. “A coming “dark future,”-- Arundhati Roy, “Edward Snowden meets Arundhati Roy and John Cusack,” Guardian, November 28, 2015

          11. “Violate US espionage laws…”—Author’s interview with Michael Hayden

          CHAPTER EIGHT

          Hacktavist



               1.  “The group “Anonymous…”— Gabriella Coleman,  Hacker, Hoaxer, Whistleblower, Spy: The Many Faces of Anonymous (Verso, New York), 2014, pp 1-8
               2.  Sue Halpern, “In the Depths of the Net,” New York Review of Books, October 8, 2015

                    3.  “What do you think the public would do…”—Barton Gellman, “Edward Snowden, after months of NSA revelations, says his mission’s accomplished,” Washington Post, December 23, 2013 

               4.  “Silk Road, which acted…”-- Homer Jenkins, “The Anti-Hero of Silk Road.” Wall Street Journal, June 3, 2015.  Also, author’s interview with a Justice Department official who requested anonymity.

                    5.  “Assange said in an …”-- Michael Hastings, “Julian Assange: The Rolling Stone Interview,” Rolling Stone, January 18, 2012.  Also see Julian Assange introduction to Suelette Dreyfus and Julian Assange, Underground. (Canongate, Edinburgh) 2012

                    6.  “TOR originally was a…” – Catherine A. Fitzpatrick, Privacy for Me and Not for Thee: The Movement for Invincible Personal Encryption, Radical State Transparency, and the Snowden Hack, (Catherine A. Fitzpatrick, New York) 2014, Kindle edition.  Fitzpatrick reconstructs the history of TOR in Part VI

                    7.  “The result was …”-- Yasha Levine, “Almost everyone involved in developing Tor was (or is) funded by the US government,” Pando, January 16, 2014. https://pando.com/2014/07/16/tor-spooks/

                    8.  “The NSA’s adversaries also …”=Jacob Appelbaum and Roger “How governments have tried to block TOR,2011,//www.youtube.com/watch?v=GwMr8Xl7JMQ, December 28,2011

                    9.  “The state is all-powerful,”-- Catherine A. Fitzpatrick, Privacy for Me and Not for Thee: The Movement for Invincible Personal Encryption, Radical State Transparency, and the Snowden Hack, (Catherine A. Fitzpatrick, New York) 2014, Kindle edition.

                    10.  “The most dangerous man…”--Rolling Stone interview with Jacob Appelbaum, “Meet the Most Dangerous Man in Cyberspace: The American Behind Wikileaks, Rolling Stone, December 2,2010

                    11.  “Appelbaum acted to defeat-…”—George Packer, The Holder of Secrets, The New Yorker, October 20, 2014

                    12.  “She identified herself in Forbes…”—Runa A Sandvik, Forbes, http://www.forbes.com/sites/runasandvik/

                    13.  “TOR Stinks…”—Sean Michael Kerner, “Snowden Leaks Show NSA Targets Tor,” E Week, October 4, 2013

14.  “Parody of the NSA…”—Kashmir Hill, “A Q&A with Edward Snowden,”  Fusion, September 24, 2015, http://fusion.net/story/201737/edward-snowden-interview/

                    15.  “He had been “moonlighting”…”-- Runa Sandvik,” What Edward Snowden said at the Nordic Media Festival,” Forbes, May 10, 2015
                    16.  “According to her account, Snowden…”—Sandvik did not reveal her encounter with Snowden in any of her blogs until 11 months after Snowden went public in June 2013.  It was only after Greenwald disclosed in his book No Place to Hide that Snowden used the alias Cincinnatus that Internet investigators discovered that he had hosted with Sandvik the Crypto Party.  Sandvik then wrote her account of it, See Runa A. Sandvik, “That One Time I Threw a Crypto Party with Edward Snowden,” Forbes, May 27, 2014. Also, Kevin Poulsen, “Snowden’s First Move Against the NSA Was a Party in Hawaii,” Wired, May 21, 2014

                    17.  “Snowden declared the Crypto party…”—All of Snowden’s post-party activities in 2012 and 2013 come from the Twitter account of “Oahu Crypto Party”. [TK]

                    18.  “NSA’s new “culture of transparency”—Morell. op. cit, p. 288

                    19.    “According to a former intelligence executive,”—Author’s interview with a Defense Intelligence Agency officer who requested anonymity,

                    20.  “I asked a former…”—Author’s interview with source A

                 CHAPTER NINE

                 The String-Puller

                      1.  ““It wasn’t that they put …”-- Barton Gellman, “Edward Snowden, after months of NSA revelations, says his mission’s accomplished,” Washington Post, December 23, 2013

                      2.  “The Journalist to whom…” –The description of Snowden’s attempts to contact Glenn Greenwald in December 2012 and January 2013 can be found in Glenn Greenwald, No Place to Hide, (Metropolitan Books, New York, 2014, pp. 7-10

                      3.  “Up until 2004, Greenwald…”-- Mark Memmott, “He Broke the NSA Leaks Story, But Just Who Is Glenn Greenwald?"" NPR, June 11, 2013.  For his part ownership of  HJ website, see Dareh Gregorian, “Glenn Greenwald, journalist who broke Edward Snowden story, was once lawyer sued over porn business,” Daily News, June 26, 2013 Also, Jessica Testa, “How Glenn Greenwald Became Glenn Greenwald,” Buzzfeed, June 26, 2013, www.buzzfeed.com/jtes/how-glenn-greenwald-became-glenn-greenwald#.uyOxxkEAlq/

                      4.  ““By ordering illegal eavesdropping…”—Greenwald. No Place to Hide. op.cit. p.2. On Ron Paul, ibid, p.24

                      5.  “Freedom of the Press Foundation …”-- Michael Calderone, “Freedom Of The Press Foundation Launches To Support WikiLeaks,” Huffington Post, December 16, 2012

                      6.  “The first serious info war…”-- David Sarno, “Hactivists fight for their cause online,” Los Angeles Times, December 11, 2010

                      7.  “Snowden also sent Greenwald…”—Greenwald. No Place to Hide, op. cit, p.2

                      8.  “Government’s increasing powers of…”—Glenn Greenwald, “U.S. filmmaker repeatedly detained at border,” Salon, April 8, 2012

                      9.  “Sprawling, unaccountable Surveillance State…”-- Glenn Greenwald, “FBI's abuse of the surveillance state is the real scandal needing investigation,” Guardian, November 13, 2012

                      10.  “, Poitras had been filming…”--Adan Salazar, Mini documentary reveals full extent of ‘Stellar Wind’ domestic spy program,” Infowars, August 28, 2012 http://www.infowars.com/mini-documentary-reveals-full-extent-of-stellar-wind-domestic-spy-program/

                      11.  “Poitras had other impressive credential…”— New School blog, “Laura Poitras: Secret No Longer,” New School News, August 14, 2013 http://blogs.newschool.edu/news/2013/08/laura-poitras-secret-no-longer/#.VggJhN_BzGc

                      12.  ““I didn’t. You chose yourself.”—Snowden’s emails to Laura Poitras were extracted from her film CitizenFour and published in Wired. See Andy Greenberg, “These Are the Emails Snowden Sent to First Introduce His Epic NSA Leaks,” Wired, October 13, 2014 (Hereinafter Snowden Emails to Poitras.)

                      13.  “He wrote to Micah Lee…”—Micah Lee’s involvement with Snowden, although know to journalists Greenwald and Poitras since April 2013, was not revealed to the public for some 18 months. See Micah Lee, “Ed Snowden taught me to smuggle secrets past incredible danger.” The Intercept, Oct 28, 2014. 

                      14.  “Anon108 aka Edward Snowden…”--  



15.  “I was at that point filming…”—Poitras interview by Amy Goodman. Democracy Now, January 15, 2015. http://www.democracynow.org/blog/2015/1/15/oscars_2015_laura_poitras_film_on
                                   16.  “I am a senior government employee..”-- Snowden Emails to Poitras. op.cit


                      17.   “Surveillance of her communications…”--  Glenn Greenwald, “U.S. filmmaker repeatedly detained at border,” Salon, April 8, 2012
                                   18.  “Kafkaesque government harassment.”-- Ben Child, “Citizenfour director Laura Poitras sues US over 'Kafkaesque harassment',” Guardian, July 14, 2015

                                   19.  “The only person “more paranoid…”—Snowden Interviewed by Katrina vanden Heuval and Stephen F. Cohen, “Snowden Speaks: A Sneak Peek an Exclusive Interview,” The Nation, (website), October 10, 2014 http://www.thenation.com/article/edward-snowden-speaks-sneak-peek-exclusive-interview/

                                   20.  “You have been ‘selected’…”-- Snowden Emails to Poitras. op. cit.

                                   21.  “Binney had been a...”—Frontline Interview, “William Binney,” PBS. December 13, 3013, //www.pbs.org/wgbh/pages/frontline/government-elections-politics/united-states-of-secrets/the-frontline-interview-william-binney/

                                   22.  “What you know as Stellar Wind,”-- Andy Greenberg, “These Are the Emails Snowden Sent to First Introduce His Epic NSA Leaks,” Wired, October 13, 2014

                                   23.   “Presidential policy 20…” 

                                   24.  “My most trusted confidante...”-- Andy Greenberg, “These Are the Emails Snowden Sent to First Introduce His Epic NSA Leaks,” Wired, October 13, 2014

                      25.  “He had Poitras write Barton Gellman...”—The Frontline Interview, “Barton Gellman,” PBS, March 7, 2014. http://www.pbs.org/wgbh/pages/frontline/government-elections-politics/united-states-of-secrets/the-frontline-interview-barton-gellman/

                      26.  “CAIR, a pro-Moslem…”-- CAIR-NY Blog “Glenn Greenwald Speaks at CAIR-NY Annual Banquet,” May 16, 2013, https://cair-ny.org/blog/glenn_greenwald_speaks_at_cairny_annual_banquet.html#sthash.6DVny6U8.dpuf

                                   27.  “After they finally found…”—The descriptions of the initial two meetings between Greenwald and Poitras in April 2013 are provided on Greenwald’s 2014 boo, Greenwald, No Place to Hide. op. cit. p. 5ff.

                 CHAPTER TEN


                 Raider of the Inner Sanctum

                 1.”They think there’s a smoking gun...”—Bamford. Wired. op. cit.

                 2.”System for stratifying its data…”—Michael McConnell interview, Rachael King, “Ex-NSA Chief Details Snowden's Hiring at Agency, Booz Allen,” Wall Street Journal, February 4, 2014.  
                 3.” Snowden applied to Booz...”—Author’s interview with Source F
                 4.”Snowden made no secret…”—Lana Lam. the South China Morning Post, June 23, 2013
                 5.”He targeted my company…”-- Rachael King, “Ex-NSA Chief Details Snowden's Hiring at Agency, Booz Allen,” Wall Street Journal, February 4, 2014.  
                 6. “Engaged in a minor subterfuge...”-- -- Mark Hosenball, “NSA contractor hired Snowden despite concerns about resume discrepancies,” Reuters, June 20, 2013
                 7.”He would not have password…”—Author’s interview with Source A
                 8.”Establish a paper trail…”—Director of National Intelligence, “IC on the Record,” (Blog on Tumbler) May 27, 2014. http://icontherecord.tumblr.com/post/87218708448/edward-j-snowden-email-inquiry-to-the-nsa-office
                 For Snowden response, see: Washington Post staff, “Edward Snowden responds to release of e-mail by U.S. officials.” Washington Post, May 29, 2014
                 9.”He returned on April 13th…” Lindsay Mills’s blog.op.cit
                 10. “A brief medical leave…”—Author’s interview with Source B
                 11. “Three of his fellow workers…”-- Stephen Braun, ""NSA to Congress: Snowden copied co-worker's password,” Military Times, February 13, 2014.
                 12. “Robotic devices, called “spiders”…”-- David E. Sanger and Eric Schmitt, “Snowden Used Low-Cost Tool to Best N.S.A.” New York Times, February 8, 2014
                 13.”Finally, Snowden had to…” Author’s interview with Source F
                 14. “Famous warrant from the FISA…”—The document can be seen in the National Security Archives. http://nsarchive.gwu.edu/NSAEBB/NSAEBB436/docs/EBB-059.pdf


CHAPTER ELEVEN
The Escape Artist



          1.  “I’m not self-destructive…”—Bamford. Wired. op.cit. 
          2.  “At this point, Snowden…”—Author’s interview with former DIA officer who requested anonymity.

          3.  “He had visited Hong Kong….”—Lindsay Mills’ blog, op.cit.

          4. “According to Albert Ho…”-- Keith Bradsher, “Hasty Exit Started With Pizza inside a Hong Kong Hideout.” New York Times, June 24, 2013. Also, author’s interview with Keith Bradsher.

         5. “For the next ten…”-- author’s interview with former DIA officer who requested anonymity.

         6. “His first priority,”—Greenwald, No Place to Hide. op cit. p. 43

         7. “That whole period was...”-- “I, Spy: Edward Snowden in Exile,”Ewen MacAskill and Alan Rusbridger, the Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript

         8. “He emailed Gellman under…”-- Barton Gellman, “Code name ‘Verax’: Snowden, in exchanges with Post reporter, made clear he knew risk.” Washington Post, June 9, 2013

         9. “Gellman could not make…”—Greenwald. No Place to Hide. op.cit. pp 51-52

         10. “More pressure on Gellman...”-- Barton Gellman,”Code name ‘Verax’: Snowden, in exchanges with Post reporter, made clear he knew risk.” Washington Post, June 9, 2013

         11. “You recently had to decline…”-- Greenwald. No Place to Hide. op.cit. p 11

         12. “Continuing his string-pulling…”— Andy Greenberg, “These Are ‘the Emails Snowden Sent to First Introduce His Epic NSA Leaks,” Wired, October 13, 2014


         13. “The hacktavist Jacob Appelbaum…”-- Jacob Appelbaum, “Edward Snowden Interview: The NSA and Its Willing Helpers.” Spiegel On Line, July 8, 2013, //www.spiegel.de/international/world/interview-with-whistleblower-edward-snowden-on-global-spying-a-910006.html

          14.”Overcome a final hurdle…”-- Greenwald. No Place to Hide. op.cit. p16-18
          15. “Miss publishing it…”—The description of the Guardian’s reaction to Greenwald’s offer of a scoop was reported by Luke Hardy, a Guardian reporter commissioned by the Guardian editor to write “the Snowden Files,” a book that Oliver Stone bought the film rights  from the Guardian for $700,000.  See The Snowden Files. op cit. p.100-115

          16. “Arranged for Micah Lee…”-- Micah Lee, “Ed Snowden taught me to smuggle secrets past incredible danger.” The Intercept, Oct 28, 2014. 

          17. “I took everything I…”—Edward Snowden and Peter Taylor, “Are you a traitor,” Transcript. BBC Panorama, October 15, 2015 (Aired on BBC October 10, 2015)


               CHAPTER TWELVE
               Whistle-blower

               1.  “They elected me. The overseers...”-- Barton Gellman, “Edward Snowden, after months of NSA revelations, says his mission’s accomplished,” Washington Post, December 23, 2013.

               2.  “Received a jarring surprise…” Lindsay Mills’s blog, op.cit.

               3.  “Every trick in the book…” Snowden Poitras emails. Op.cit.

               4.  “On timing, regarding meeting…”—The description of the meetings with Snowden in Hong Kong, June 3-June 9, is taken from Poitras’ documentary CitizenFour. 2014,  The film, hereinafter referred to as CitizenFour, can be found at: https://thoughtmaybe.com/citizenfour/

               5.  “The initial impression was…”—Greenwald, No Place to Hide, op. cit. p. 30.

                    6.  “Minutes after meeting, I…”--…”— George Packer, “The Holder of Secrets,” New Yorker, October 20, 2014

                    7.  “Guardian policy required…”-- Luke Hardy, The Snowden Files: the Inside Story of the Most Wanted Man in the World (Vintage New York) 2014, p. 114-116

                    8.  “The next morning he…”-- George Packer, “The Holder of Secrets,” New Yorker, October 20, 2014

                    9.  “I am in a safe house..,”—Greenwald, No Place to Hide, op.cit. p.82

                    10.  “Chosen was Lana Lam…”-- Lana Lam, “Post reporter Lana Lam tells of her journey into the secret world of Edward Snowden,” South China Morning Post, June 12, 2014.  Also, author’s interview with Lana Lam and Robert Tibbo

               11. “I was being tailed…”--Sara Corbett. “How a Snowdenista Kept the NSA Leaker Hidden in a Moscow Airport,” Vogue, February 19, 2015 

                         CHAPTER THIRTEEN

                         Enter Assange

                              1.  “Thanks to Russia …”--Julian Assange, “How 'The Guardian' Milked Edward Snowden's Story,” Newsweek, April 20, 2015
                              2.  “Julian Assange had made…”-- David Leigh and Luke Harding, “Julian Assange: the teen hacker who became insurgent in information war,” Guardian, January 30, 2011

                              3.  “Sarah Harrison, his comely…”—Sarah Ellison, “The man who came to dinner,” Vanity Fair, October 2013

                              4.  “Snowden telephoned Assange…”-- Assange interview in (London) Sunday Times. Giles Whittell, “Julian Assange unmasked.” Times Magazine, August 29, 2015.  Also, “Snowden told me they had abused Manning…”— Michael Sontheimer, “Spiegel Interview with Julian Assange,” Spiegel Online International, July 19. 2015

                              5.  “Assange called Harrison...”-- …”--Sara Corbett. “How a Snowdenista Kept the NSA Leaker Hidden in a Moscow Airport,” Vogue, February 19, 2015

                              6.  “We were working very hard…” –Ibid.

                              7.  “U.S. government informed the…”-- Jane Perlez and Keith Bradsher, “China Said to Have Made Call to Let Leaker Depart.” New York Times, June 23, 2013

                              8.  “Tibbo had a strategy…”—Author Interview with Robert Tibbo

                              9.  “The purpose of my mission...”-- “I, Spy: Edward Snowden in Exile,”Ewen MacAskill and Alan Rusbridger, the Guardian, July 18, 2014.

                         CHAPTER FOURTEEN

                         Fugitive

                         1. “If I end up in chains…” Snowden video on Guardian site. June 17, 2013, //www.theguardian.com/world/video/2014/jul/17/edward-snowden-video-interview

                         2. “Insert an encrypted key…”--…”-- Barton Gellman, “Code name ‘Verax’: Snowden, in exchanges with Post reporter, made clear he knew risk.” Washington Post, June 9, 2013

                         3.  “I can’t help him evade…”—Gellman quoted in “The Snowden Saga, Vanity Fair. op.cit

                         4.”Asked Fidel Narváez...”-- Juan Forero, “Ecuador’s strange journey from embracing Snowden to turning him away,” Washington Post, July 2, 2013

                         5. “My only comment is that...”—Lana Lam, “Whistle-blower Edward Snowden talks to South China Morning Post,” South China Morning Post, June 12, 2013 

                         6. “His passage through passport …”-- Jane Perlez and Keith Bradsher, “China Said to Have Made Call to Let Leaker Depart.” New York Times, June 23, 2013

                         7. “Snowden only met Harrison...”-- Sara Corbett. “How a Snowdenista Kept the NSA Leaker Hidden in a Moscow Airport,” Vogue, February 19, 2015

                             8.  “Assange continued creating…”-- Assange interview, (London) Sunday Times. Giles Whittell, “Julian Assange unmasked.” Times Magazine, August 29, 2015.
                             9.  “Three-mile radius…”-- Sara Corbett. “How a Snowdenista Kept the NSA Leaker Hidden in a Moscow Airport,” Vogue, February 19, 2015






                                                                             CHAPTER FIFTEEN
                                                                           Did Snowden Act Alone?



                         1.  “Totality of Snowden’s Actions,”— Author’s interview with Michael Hayden. Also, “Hayden interview,” Meet The Press, NBC, December 15, 2013
                         2.  “Maclean stole immensely valuable…”—See Appendix A, Donald Maclean

                              3.  “Whistle blower Bradley Birkenfeld…”-- David Kocieniewski, “Whistle-Blower Awarded $104 Million by I.R.S.” New York Times, September 11, 2012

                         4.  “Whistle-blower Daniel Ellsberg…”-- Martin Arnold, “Pentagon Papers Charges Are Dismissed,” New York Times, May 11, 1973

                         5.  “FBI office in Media…”-- Mark Mazzetti, “Burglars Who Took On F.B.I. Abandon Shadows,” New York Times,  January 7, 2014

                         6.  “Agee left the CIA…”—See Phillip Agee in Appendix A

                              7.  “Kalugin a top Soviet…”—See Oleg Kalugin in Appendix A

                              8.  “A treasure trove of…”—Christopher Andrews, The Sword and the Shield (Basic Books, New York) 2000 p.206

                              9.  “It is inconceivable to me…”— Author’s interview with a former Booz Allen executive who requested anonymity.

                              10.  “We know that Snowden…”-- Runa A. Sandvik, “That One Time I Threw a Crypto Party with Edward Snowden,” Forbes, May 27, 2014.

                              11.  “The FBI, which was…”-- Author’s interview with a Senate Intelligence Committee staff member who requested anonymity.

                              12.  “Snowden may have carried…”—Author’s interview with Tyler Drumheller.

                              13.  “As Snowden acknowledged, he…”--  Bamford, Wired, op.cit.

                              14.  “Absence of evidence is…”—Carl Sagan, Cosmos (Random House, New York) 1980. P. 49

                              15.  “We have many notable cases…” For the cases of  Robert Hanssen and Aldrich Ames, see Appendix A

                              16.  “The greatest trick the…”—Author’s interview with Victor Cherkashin.   The quote from The Usual Suspects was adopted by the movie from Charles Baudelaire’s observation, “La plus belle des ruses du diable est de vous persuader qu'il n'existe pas.”




                           CHAPTER SIXTEEN
                           The Question of When

                              1.  “The NSA was actually…”--James Bamford and Tim De Chant, “Edward Snowden on Cyber Warfare, Nova, PBS. January 8, 2015

                              2.  “The career of KGB…” -- Tennent H. Bagley, Spy Wars: Moles, Mysteries, and Deadly Games, (Yale University Press, New Haven) 2008, p. 46.  See also, Heinz Felfe in Appendix A

                              3.  “A counterespionage review done…”—Author’s interview with a member of PFIAB who requested anonymity

                              4.  “Hanssen laid down his …”—Author’s interview with Victor Cherkashin, Also see Victor Cherkashin and Robert Hanssen in Appendix A

                              5.  “KGB Major Anatoli Golitsyn…”-- Tennent H. Bagley, Spy Wars: Moles, Mysteries, and Deadly Games, (Yale University Press, New Haven) 2008, pp. 6-11  See Also, Anatoli Golitsyn in Appendix A

                              6.  “Wang Lijun, a well-connected…”-- Steven Lee Myers and Mark Landler, “Frenzied Hours for U.S. on Fate of a China Insider,” /New York Times, April 17, 2012

                              7.  “Within weeks of the…”—Morell, op.cit. p. 294

                              8.  “I think Snowden is…”--Vincent Kessler, “Snowden being manipulated by Russian intelligence: ex-NSA chief,” Reuters, May 7, 2014

                              9.  “A former CIA officer…”—Author’s interview with Tyler Drumheller

                              10.  “It is not statistically improbable…”—Author’s interview with former NSA officer who requested anonymity.

                              11.  “When and how he…”-- Morell, op.cit. p. 296

                         12.  “Looking to capitalize on…”—Transcript of Interview with General Keith Alexander, Australian Financial Review, May 8, 2014.

                              13.  ""He can compromise thousands…”--Carol J. Williams, “NSA leaker Edward Snowden seeks return to U.S., on his terms,” Los Angeles Times, July 22, 2015
                              14.   “I am still working for…”-- Barton Gellman, “Edward Snowden, after months of NSA revelations, says his mission’s accomplished,” Washington Post, December 23, 2013

                              15.  “Every facet of Snowden's…”--Janet Reitman, “Snowden and Greenwald,” Rolling Stone,  December 4, 2013

                              16.  “His hosts and they…”--Richard Byrne Reilly, “Former KGB general: Snowden is cooperating with Russian intelligence,” Venture Beats, May 22, 2014

                              17.  “I would lose all respect…”—Author’s interview with Michael Hayden.  Also, Richard Byrne Reilly, “Former NSA director: 'I would lose all respect for Russia if they haven't fully exploited Snowden.” Venture Beats, May 23 2014

                              18.  “He was put in contact…”—Der Spiegel interview with Anatoli Kucherana, “Snowden's Lawyer: 'Russia Will Not Hand Him Over’,” Spiegel Online International, June 24, 2013.

                              19.  “An interview as “great…”-- James Bamford and Tim De Chant, “Edward Snowden on Cyber Warfare, Nova, PBS. January 8, 2015



                         20.  “One million dollars for…”—This payment was revealed in the Sony documents allegedly stolen by North Korea.  They were posted on the Wikileaks website.  Author’s interview with Oliver Stone.
                              21.  “Putin’s telethon on…”-- Elias Grolla, “Snowden Called in to Putin’s Telethon. Does That Really Make Him a Kremlin Pawn?” Foreign Policy, April 17, 2014

                           CHAPTER SEVENTEEN

                           The Keys to the Kingdom Are Missing

                              1.  “There’s a zero percent…”-- James Risen,   “Snowden Says He Took No Secret Files to Russia,” New York Times, October 17, 2013

                              2.  “The instruction manual …”--Glenn Greenwald, “Guardian Journalist: Snowden docs contain NSA 'blueprint',” USA Today, June 15, 2013

                              3.  “A heart attack” when…”—Sound track, CitizenFour, op.cit

                              4.  “Keys to the Kingdom…”—Walter Pincus, “Snowden still holding ‘keys to the kingdom’,” Washington Post, December 18m 2013.  Also, Richard Ledgett interview, :60 Minutes,” CBS, December 15, 2013

                              5.  “Jack Dunlap and David Boone…”  See Appendix A.

                              6.  “Of these “touched” documents…”—Author’s Interview with Source A.

                              7.  “This total included documents…” Author’s interview with a staff member of the Senate Intelligence Committee who requested anonymity.

                              8.  “Snowden also disputed the…”—Bamford, Wired, op cit.

                              9.  “Via a Vice magazine…”--  Jason Leopold, “Inside Washington's Quest to Bring Down Edward Snowden,” Vice, June 4, 2015

                              10.  “A roadmap of what…”—The Snowden Saga, Vanity Fair. op. cit.

                              11.  “The compartment logs showed…”—Author’s interview with Source A.

                              12.  ""No intelligence service…”-- Glenn Greenwald, “Email exchange between Edward Snowden and former GOP Senator Gordon Humphrey,” Guardian, July 16, 2013 

                              13.  An answer came three…”-- Sophie Shevardnadze, “'Snowden believes he did everything right' - lawyer Anatoly Kucherena,” RT Television, September 23, 2013 //www.rt.com/shows/sophieco/snowden-russia-lawyer-kucherena-214/

                              14.  “I had all of…”—Author’s interview with Anatoly Kucherena

                              15.  “Shevardnadze, who told me…”—Author’s interview with Sophie Shevardnadze

                              16.  “He was correct that …”—Morell, op. cit. p. 287.  Also, Author’s interview with Anatoly Kucherena

                              17.  “Russian cyber service had…”—Author’s interview with a former member of the staff of the National Security Advisor.

                              18.  “State Department explicitly told…”-- Author’s interview with a former member of the staff of the National Security Advisor.

                              19.  “In this exchange…”-- James Risen, “Snowden Says He Took No Secret Files to Russia,” New York Times, October 17, 2013

                              20.   “I had spent ten years…”--Kashmir Hill, “How ACLU Attorney Ben Wizner Became Snowden's Lawyer,” Forbes, March 10, 2014

                              21.  “Russians can't break my finger …”-- NBC Interview with Brian Williams, op. cit.  See also The Snowden Saga, Vanity Fair. op.ed and Bamford. Wired. op.ed.

                                  19  “Chinese government had managed…”-- Jane Perlez and Keith Bradsher, “China Said to Have Made Call to Let Leaker Depart.” New York Times, June 23, 2013

                                  20  “Both the Chinese and the Russians…”—Morell. op. cit. p. 284

                                  21  .”What I can say…”—Snowden Interview, ARD-TV, January 26, 2014. https://docs.google.com/file/d/0B95Id3j0M0lrdDA5WlZ4dllUbjg/preview

                                  22  “She urgently texted Snowden…”—Laura Poitras, CitizenFour.

                                  23  “Poitras’ co-interrogator of Snowden.” Jacob Appelbaum, “Edward Snowden Interview: The NSA and Its Willing Helpers.” Spiegel On Line, July 8, 2013

                                  24  “There was no document…”—Author’s interview with Source B

                                  25  “He reported that no…”—Bamford, Wired. op.cit

                                  26  “Another mole in the NSA…”-- Bamford, Wired. op.cit

                                  27  “Greenwald and Poitras also…”-- Staff, “Snowden leak: Israeli commandos killed Syrian general at dinner party.” Jerusalem Post, July 16, 2015/  Also, Author’s interview with Source B

                              28. “Putin publicly forbade him…”—Interview Channel One. http://en.kremlin.ru/events/president/news/19143.  Also Author’s interview with former Russian intelligence officer who requested anonymity...

                              29. “If Snowden didn’t give...”—Author’s interview with Source B


                              30. “German federal prosecutor concluded…”-- Theodore Schleifer, “Germany drops probe into U.S. spying on Merkel,” CNN Politics,


                               June 13, 2015 
                              31.  “ NSA lost sight of…”-- Adam Entous, Julian E. Barnes and Siobhan Gorman, “U.S. Scurries to Shore Up Spying on Russia,” Wall Street Journal, March 24, 2013


                              32. “Britain also discovered…”-- Tom Harper, Richard Kerbaj and Tim Shipman, “British spies betrayed to Russians and Chinese,” Sunday Times (London) June 14 2015.



                                   32.  “Losing some of its capabilities…”--Chris Strohm and Gopal Ratnam, “NSA Leader Seeks Openness on Secret Surveillance Orders.” Bloomberg News, June 13, 2013. Also Author’s Interview with a staff member of National Security Council who requested anonymity.


CHAPTER EIGHTEEN 
The Unheeded Warning



          1.  “The NSA—the world’s…”—Morell, op. cit. p. 287
          2.  “Alexander Poteyev, a 54-year old…”-- Sergei L. Loiko, “Former Russian spymaster convicted of treason,” Los Angeles Times. June 28, 2011

          3.  “Harold Nicholson in 1996…""—See Harold Nicolson, Appendix A

          4.  “According to Pavel Sudoplatov…”—p.xxii 

          5.  “The CIA learned of this…”—Author’s interview with Source B

          6.  Preparing these “Americans,”-- FBI, “Operation Ghost Stories: Inside the Russian Spy Case.” October 31,2011, https://www.fbi.gov/news/stories/2011/october/russian_103111/russian_103111

          7.  “Angleton had pointed out…”—Author's interview with James Jesus Angleton.

          8.  “The situation suddenly changed…”-- Bill Gertz, “Counterspies hunt Russian mole inside National Security Agency,” Washington Times, December 1, 2010. Also, author’s interview with Bill Gertz.

          9.  “A counter-espionage probe…”—Author’s interview with former NSA executive who requested anonymity.

          10.  “Insider threats by trusted insiders…”--Barton Gellman and Greg Miller, “‘Black budget’ summary details U.S. spy network’s successes, failures and objectives.” Washington Post, August 25, 2013

          11.  “The pre-emptive arrests also…”-- Gregory L. White, “Russia Convicts Former Spy Official for Exposing Agents in U.S. Ring,” Wall Street Journal, June 28, 2011

          12.  “Turned up no evidence…”-- Author’s interview with former NSA executive who requested anonymity.

          13.  “Broke the record for…”—Tennent Bagley, Spy Master, (Sky Horse Publishing, New York) 2015, p.3

          14.  “Russia had dispatched at least…”—Tim Weiner, Legacy of Ashes, (Doubleday, New York) 2007, pp.450-451.  Also, Walter Pincus, “CIA passed bogus news to presidents,” Washington Post, October 31, 1995

          15.  “There are no rivers…”—Michael Hayden interview in Wall Street Journal.   Gerald Baker, “Michael Hayden Says U.S. Is Easy Prey for Hackers,” Wall Street Journal June 22, 2015

          16.    “The best defense in this…”—Author’s interview with Source B/

          17.  “Meanwhile, it had become…”—Morell. op. cit. p. xv

































          CHAPTER NINETEEN
          The Rise of the NSA

          1.  “There are many things…” -- Barton Gellman, “Edward Snowden, after months of NSA revelations, says his mission’s accomplished, “ Washington Post, December 13, 2013

          2.  “By 1914, the US Army…”—National Security Agency, Pearl Harbor Review: The Black Chamber, NSA, 2009 https://www.nsa.gov/about/cryptologic_heritage/center_crypt_history/pearl_harbor_review/black_chamber.shtml

          3.   “Its sensitive ears catch ,,,”—David Kahn, The Codebreakers (Simon and Schuster, New York), 1967  p.358

          4.  “Expeditions to penetrate cables…”—Bob Woodward, Veil: The Secret Wars of the CIA, 1981-1987, (Simon and Schuster, New York), 2005, pp. 471`-5

          5.  “In 1980, President Ronald Reagan…”—David R. Shedd, “How Obama Unilaterally Chilled Surveillance,” Wall Street Journal, November 30, 2015

          6.  “We are approaching a…”--Stansfield Turner, Secrecy and Democracy: The CIA in Transition (Houghton Mifflin, New York) 1985, p.92

          7.  “Vastness of the…”—Woodward. op.cit. p.202

          8.  “James Bond” provision of the…”--Ian Cobain, “How secret renditions shed light on MI6's license to kill and torture,” Guardian, February 13, 2012

          9.  “The NSA had assiduously…”Kevin Poulson, “New Snowden Leak Reports ‘Groundbreaking’ NSA Crypto-Cracking,” Wired. August 29, 2013

          10.  “Yes, my continental European…”—R. James Woolsey, “Why we spy on our allies,” Wall Street Journal. March 17, 2000

               11.  “Very foundation of US intelligence…”--John McLaughlin, “We need NSA to do what it does -- it makes us safer,” Press of Atlantic City, January 8, 2014 

          12.  “It made leading hacktavists…”-- Charlie Savage, Julia Angwin, Jeff Larson and Henrik Moltke, “Hunting for Hackers, N.S.A. Secretly Expands Internet Spying at U.S. Border,” New York Times, June 4, 2015

          13.   , Rajesh De, the NSA’s …”—Rajesh De, “Former NSA Lawyer on ‘Harm’ of Edward Snowden’s Revelations,” Bloomberg, July 27, 2015. https://bol.bna.com/former-nsa-lawyer-on-harm-of-edward-snowdens-revelations/

          14.  “The attack on Sony…”-- Rob Lever, “Some Experts Still Aren't Convinced That North Korea Hacked Sony,” Business Insider, December 30, 2014

          15.  “The Chinese are viewed …”--General Alexander quoted in: Kelley Vlahos, “America’s Already-Failed Cyber War,” The American Conservative, July 23, 2015

          16.  “We are bolstering our…”--Staff, “Black Budget: Congressional Budget Justification Excerpt,” Washington Post, August 30, 2013

          17.  “These compartments were the…”—Author’s interview with Source B

          18.   “The queen on our chessboard…”—Author’s interview with Source A

          19.  “To confront flagging morale…”—Author’s interview with Michael Haydon

          20.  “The nation has lost …”--Nicole Mulvaney,”NSA Director Adm. Michael Rogers discusses freedom, privacy and security issues at Princeton University,” N.J. com. March 14, 2015.  http://www.nj.com/mercer/index.ssf/2015/03/nsa_director_admiral_michael_rogers_during_princet.html

               21.  “Although repairing the damage…”-- Rachael King, “Ex-NSA Chief Details Snowden's Hiring at Agency, Booz Allen,” Wall Street Journal, February 4, 2014.  

            CHAPTER TWENTY

            The NSA’s Back Door



            1.  “You have private for-profit …”--James Bamford and Tim De Chant, “Edward Snowden on Cyber Warfare.” PBS Nova, January 8 2015
            2.  “Ames had been a...”—See Aldrich Ames, Appendix A

            3.  “All their classified information...”—Anonymous, “Out of Control,” NSA. http://nsarchive.gwu.edu/NSAEBB/NSAEBB424/docs/Cyber-009.pdf

            4.  “Whitworth came from a...”-- See Jerry Whitworth, Appendix A

            5.  “All of us just…”-- Gerald Baker, “Michael Hayden Says U.S. Is Easy Prey for Hackers,” Wall Street Journal, June 21, 2015

            6.  “White House lawyer …”-- Rajesh De, “Former NSA Lawyer on ‘Harm’ of Edward Snowden’s Revelations,” Bloomberg, July 27, 2015. https://bol.bna.com/former-nsa-lawyer-on-harm-of-edward-snowdens-revelations/

            7.  “North Korea in 1968…”-- John Prados and Jack Cheevers, “USS Pueblo: LBJ Considered Nuclear Weapons,” National Security Archive Electronic Briefing Book No. 453, January 23, 2014

                 8.  “Booz Allen, like all…”—  Booz Allen Hamilton issued a history of its evolution in 2004.,\ “Helping Clients Envision the Future,” PDF file, 2004 https://www.boozallen.com/content/dam/boozallen/documents/90th-History-Book-Complete.pdf

            9.  “The private company named… Julie Cresswell, “The Private Equity Firm That Grew Too Fast,” New York Times, April 24, 2015

            10.  “USIS had prematurely closed…”-- Tom Hamburger and Debbi Wilgoren, “Justice Department says USIS submitted 665,000 incomplete background checks,” Washington Post, January 23, 2014

            11.     “USIS was also opened to…”-- Ellen Nakashima, “DHS contractor suffers major computer breach, officials say,” Washington Post, August 6, 2014

            12.  “Successful 2011 attack on…”-- Andy Greenberg, “Anonymous Hackers Breach Booz Allen Hamilton,” Forbes, July 11, 2011

            13.  “A computer system called E-QIP…”-- Joe Davidson, “ Federal background check system shut down because of ‘vulnerability’,” Washington Post, June 29, 2015

            14.  “This memorandum noted the…”—Author’s interview with a former NSA executive who requested anonymity.

            15.  “NSA was set back…”-- Rachael King, “Ex-NSA Chief Details Snowden's Hiring at Agency, Booz Allen,” Wall Street Journal, February 4, 2014.

            CHAPTER TWENTY-ONE

            The Russians are Coming

     1.  “The break-up of the…”--Nick Allen, “Soviet break-up was geopolitical disaster, says Putin,” The Telegraph, April 26, 2005

     2.  “ Russian units had managed…”-- Adam Entous, Julian E. Barnes and Siobhan Gorman, “U.S. Scurries to Shore Up Spying on Russia,” Wall Street Journal, March 24, 2013

     3.  “Russian acronym SORM had…”-- Stephen Aftergood, “The Red Web: Russia and the Internet,” FAS, October 5, 2015. https://fas.org/blogs/secrecy/2015/10/red-web/


     4.  “William Martin and Bernon Mitchell…”—David P. Mowry, “Betrayers of the Trust,”  Cryptologic Almanac 50th Anniversary Series, (NSA) February 28, 2003

     5.  “Victor Norris Hamilton…”-- Staff, “American Defector Is Found in Russian Prison,” New York Times, June 4, 1992

     6.  “He was found dead of…”—Edward Jay Epstein, “The Spy Wars,” New York Times, September 28, 1980

     7.  “Robert Lipka, a clerk…”—See Robert Lipka Appendix A

     8.  “ David Sheldon Boone…”—See David Boone, Appendix A

          9.  “Harold Nicholson, the CIA’s deputy…”— Elizabeth Farnsworth, “Update on the Case of CIA Agent Harold Nicholson,” PBS (Transcript) November 19, 1996. See Also “AFFIDAVIT IN SUPPORT OF COMPLAINT, ARREST WARRANT AND SEARCH WARRANTS UNITED STATES v. HAROLD J. NICHOLSON.” http://www.washingtonpost.com/wp-srv/national/longterm/ciaspy/affidavt.htm

          10.  “Well-experienced with false flags…”—Edward Jay Epstein, Deception: The Invisible War Between the KGB and the CIA,(Simon and Schuster, New York) 1989, pp 22-28

          11.  “When it comes to recruiting moles…” –Author’s interviews with Angleton.

          12.  “The “Trust” deception…”-- Edward Jay Epstein, Deception: the Invisible War between the KGB and the CIA, (Simon and Schuster, New York) 1989, pp 22-28. Also, Author’s interview with Raymond Rocca, the CIA’s former research chief for the Counterintelligence staff.

          13.  “With “a learning experience…”-- Anonymous, “Out of Control,” NSA. http://nsarchive.gwu.edu/NSAEBB/NSAEBB424/docs/Cyber-009.pdf

          14.   “From the 127-page…”--David Larter and Andrew Tilghman, “Military clearance OPM data breach 'absolute calamity' ,” Navy Times, June 18, 2015

          15.   “It is next to impossible…”--Bruce Schneier quoted in Homer Jenkins, “The Anti-Hero of Silk Road.” Wall Street Journal, June 3,2015

          16.  “Under Putin, Russia had…”-- Nicole Perlroth, “Online Security Experts Link More Breaches to Russian Government, New York Times, October 28, 2014

          17.  “The Silk Road founder…”-- Homer Jenkins, “The Anti-Hero of Silk Road.” Wall Street Journal, June 3, 2015.  Also author’s interview with a former Justice Department official who requested anonymity.

          18.  “Better cyber security than…”—Morell. op.cit. p. 291

       CHAPTER TWENTY-TWO

       The Chinese Puzzle

     1.  “The first [false assumption] …”—Snowden video in Hong Kong


          2.  “Giving China its first…”--2014 Annual Report to Congress by the U.S.-China Economic and Security Review Commission, quoted in David Tweed, “China Takes Nuclear Weapons Undersea Away From Prying Eyes, Bloomberg Business, December 8, 2014
          3.  “Results of decades of...”—Select Committee, U.S. Congress, Report, 1999. http://www.house.gov/coxreport/chapfs/over.html

          4.  “A vast enterprise in China…”-- Nir Kshetri, The Rapidly Transforming Chinese High-Technology Industry and Market (Chandos Publishing, London) 2008. p.92

          5.  “By 2007, Paul Strassmann…”-- Staff, “China 'has .75M zombie computers' in U.S.,”  UPI, September 17, 2007

          6.  “Cyber attack had harvested…”-- James Lewis, “Hackers May Have Obtained Names), New York Times, June 11,2015

          7.  “Those records are a legitimate...”-- Gerald Baker, “Michael Hayden Says U.S. Is Easy Prey for Hackers,” Wall Street Journal. June 21, 2015

     8.  ""Any attempt to monopolize…""-- Patrick Goodenough, “Chinese President in Veiled Warning to the US: Don’t Try to ‘Monopolize Regional Affairs.’ CNS News May 22, 2014

          9.  “This mandate includes monitoring…”—Author’s interview with a dormer U.S. intelligence officer stationed in Hong Kong who requested anonymity.

     10.  “Regards Hong Kong as ...”—Author’s interview with Tyler Drumheller



          CHAPTER TWENTY-THREE

         The Pawn in the Game

       1.  “The whole key is...”-- Transcript of interview with Snowden in Moscow. “I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan Rusbridger, the Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript.
       2.  “Sources go dark that…”—ibid.

       3.  “Single point of failure…”—Ibid.

       4.  “If any further incentive…”—Morell. op.cit. p.286

       5.  “Snowden thinks he is…”-- Morell. op.cit.p.285

       6.  “The purpose of my…”--“I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan Rusbridger, The Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript

  7.  “The time pressure resulted…”-- Barton Gellman, “Code name ‘Verax’: Snowden, in exchanges with Post reporter, made clear he knew risk.” Washington Post, June 9, 2013

       8.  “This guy isn’t where…”-- I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan Rusbridger, the Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript

       9.  “It was a nervous period…”—ibid.

       10.  “I’m not going to…”—David Boyer, “Obama on Snowden: ‘I’m not going to be scrambling jets to get a 29-year-old hacker’,” Washington Times, June 27, 2013

       11.  “Angleton told me in…”—Author’s interview with James Jesus Angleton

       12.  “Sir David Omand, the…”-- Tom Harper, Richard Kerbaj and Tim Shipman, “British Spies betrayed to Chinese and Russians,” Sunday Times (London), June 14, 2015

       13.    “Adding insult to injury…”-- 

       14.  Katrina vanden Heuval and Stephen F. Cohen, “Snowden Speaks: A Sneak Peek an Exclusive Interview,” The Nation, (website), October 10, 2014 http://www.thenation.com/article/edward-snowden-speaks-sneak-peek-exclusive-interview/



       CHAPTER TWENTY-FOUR
       Dinner with Oliver Stone

  1.  “I had to tune to…”--Stuart Kemp, “Oliver Stone Options Novel by Edward Snowden's Russian Lawyer,” Hollywood Reporter, June 10, 2013



       2.   “Before flying to Moscow…”—Author’s Interview with Oliver Stone
       3.  “$1 million dollars for…”--Mike Fleming, Jr. “Oliver Stone Buys Edward Snowden Russian Lawyer’s “Novel” About Asylum-Seeking Whistleblower,” Deadline, June 10, 2014

       4.  “For nine months...”- Bamford, Wired. op. cit. 

       5.  “The only door to…”—Author’s email exchange with Lazamir Gotta




  6.         CHAPTER TWENTY-FIVE
        The Vanishing Act

       1.  . “The talk about Russia…”--“The NSA was actually…”--James Bamford and Tim De Chant, “Edward Snowden on Cyber Warfare, Nova, PBS. January 8, 2015

       2.  8. “Izvestia, “a special operation…”— Andrei Gridasov, Igor Yavlyansky and Mary Gorkovskaya “Secret Services in Moscow with Wikileaks conducted Operation Snowden,” Izvestia, June 23, 2013

       3.  “If they [the U.S. Government]…”-- Katrina vanden Heuval and Stephen F. Cohen, “Snowden Speaks: A Sneak Peek an Exclusive Interview,” The Nation, (website), October 10, 2014

       4.   “Discussed the danger with Assange …”-- Assange interview, (London) Sunday Times. Giles Whittell, “Julian Assange unmasked.” Times Magazine, August 29, 2015.

       5.  “Everyone was screaming ‘Snowden’…”—Author’s interview with Irina Galushka

       6.   “Sarah Harrison told Vogue …”-- Sara Corbett. “How a Snowdenista Kept the NSA Leaker Hidden in a Moscow Airport,” Vogue, February 19, 2015.

  7.  “So either the rule…”—The maximum stay is listed on the hotel’s website. http://www.eng.v-exp.ru/servicepayment/

       8.  “Traveling under a false name …”—Author’s interview with Irina Galushka,

       9.  “Statement on the Wikileaks…”-- “Statement from Edward Snowden in Moscow,” https://wikileaks.org/Statement-from-Edward-Snowden-in.html

       10.  “Terminal D contains a…”—Author’s interview with Andrei Lugovoi.

       11.   “It was a total…”—Author’s Interview with Egor Piskunov

           CHAPTER TWENTY-SIX

   Through the Looking Glass



1.  “There’s definitely a deep state…”-- Katrina vanden Heuval and Stephen F. Cohen, “Snowden Speaks: A Sneak Peek an Exclusive Interview,” The Nation, (website), October 10
       2.  “According to Cherkashin, Ames…”- Author’s interview with Victor Cherkashin
       3.  Morell. op.cit. p. 297

       4.  “Pelton had left the NSA…”- George E. Curry, “Ex-intelligence Expert Guilty Of Espionage, Chicago Tribune, June 6, 1986.Also, see Pelton in Appendix A

       5.  “Signed a copy of my book…”-- Edward Jay Epstein, James Jesus Angleton: Was He Right. op cit.  In handing Cherkashin my book, I told him that his recruitments of Ames and Hanssen had validated Angleton’s theory that the KGN was capable of sustaining long-term moles in U.S. intelligence.




6.                                   CHAPTER TWENTY-SEVEN
                 The Handler



  1.  “As for his [Snowden’s] communication…”-- Anatoly Kucherena Interview, “Snowden believes he did everything right,” Sophie & Co, RT Television, September 23,2013
  2.  “I learned from a Russian researcher…”-- Author’s interview with Vassili Sonkine

  3.  “When I had been investigating…”—Edward Jay Epstein, Annals of Unsolved Crime, op.cit, pp. 209-240

  4.  “I don’t know him...”—Author’s interview with Andrei Lugovoi

  5.  “It was a rare…”— The vast majority of the 15 Americans defectors to the Soviet Union in the Cold War, including Joel Barr, Morris and Lona Cohen, Victor Hamilton, Edward Lee Howard, George Koval, Bernon Mitchell, William Martin, Isaiah Oggins, Alfred Sarant, Robert E. Webster and Flora Wovschin were involved in espionage.  The remaining three, Harold N. Kochs, a Catholic Priest protesting the Vietnam War, Arnold Lockshin, a Communist party organizer, and Lee Harvey Oswald, a U.S. Marine, defected for idealistic principles.  All were given asylum, and two, Webster and Oswald, redefected to the United States.  

  6.  “They had been invited…”—Tanya Lokshinam “Meeting Edward Snowden,” Dispatches, July 13,2015 https://www.hrw.org/news/2013/07/12/dispatches-meeting-edward-snowden

  7.  “Read a prepared statement…”—“Statement by Edward Snowden,” July 12, 2013, https://wikileaks.org/Statement-by-Edward-Snowden-to.html.  

  8.  “I asked  how he…”-- Author’s interview with Anatoly Kucherena.

  9.  “Kucherena had personally approved….”—Author’s interview with Sophie Shevardnadze

     CHAPTER TWENTY-EIGHT

              Snowden’s Choices

     1.  “He also had access…”—Author’s interview with Source A

     2.  “Presidential Policy Directive 20…”—Greenwald. op.cit. p. 75

     3.  “Trace the theft of…”—Author’s interview with Michael Hayden

          4.  “I had a special level…”-- Edward Snowden and Peter Taylor, “Are you a traitor,” Transcript. BBC Panorama, October 15, 2015 (Aired on BBC October 10, 2015)

     5.  “Robert Hanssen changed positions…”—See Robert Hanssen, Appendix A

     6.  “In respect to China alone…”-- James Risen, “Snowden Says He Took No Secret Files to Russia,” New York Times, October 17, 2013

     7.  “If things went wrong…”-- Edward Snowden and Peter Taylor, “Are you a traitor,” Transcript. BBC Panorama, October 15, 2015 (Aired on BBC October 10, 2015)
     8.  “Gellman considered Hong Kong…”-- Barton Gellman, “Code name ‘Verax’: Snowden, in exchanges with Post reporter, made clear he knew risk.” Washington Post, June 9, 2013

     9.  “First priority was to…”—Greenwald. op.cit. p.49

     10.  “Snowden obviously knew this…”—Author’s interview with Tyler Drumheller

     11.  “Snowden told the editor…”-- I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan Rusbridger, the Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript

     12.  “MacAskill offered him the…”—The Snowden Saga. Op.cit.

     13.  “He applied for the job…”—Author’s interview with a former Booz Allen employee who requested anonymity.

     14.  “He had also brought…”-- Edward Snowden and Peter Taylor, “Are you a traitor,” Transcript. BBC Panorama, October 15, 2015 (Aired on BBC October 10, 2015)



     15.  “He made contact with a…”--“Gellman considered Hong Kong…”-- Barton Gellman, “Code name ‘Verax’: Snowden, in exchanges with Post reporter, made clear he knew risk.” Washington Post, June 9, 2013
     16.  “The mission’s already accomplished…”-- Barton Gellman, “Edward Snowden, after months of NSA revelations, says his mission’s accomplished, “ Washington Post, December 13, 2013

     17.  “His legal representative in Moscow…”-- Sophie Shevardnadze, “'Snowden believes he did everything right' - lawyer Anatoly Kucherena,” RT Television, September 23, 2013.




     18.  CHAPTER TWENTY-NINE
          The Whistle-Blower Who Became an Espionage Source



     1.  “The government’s investigation failed…” Bamford. Wired. Op.cit
     2.  “If I were providing…”-- “I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan Rusbridger, the Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-transcript

     3.  “For our enemies, having...”—Morell. op.cit. p. 294

          4.   “There is no way…”—Author’s interview with an intelligence source who requested anonymity

     5.  “Pelton, for example, who…”—Author’s interview with Victor Cherkashin.

     6.  Staff, “Congressman says Snowden planned escape to China,” UPI. June 16, 2013

     7.  Donald Rumsfeld, Press Conference at NATO Headquarters, Brussels, Belgium, June 6, 2002

       CHAPTER THIRTY

       The Consequences for the War on Terror



  1.  “Because of a number of…”--Amy Davidson, “Don’t Blame Edward Snowden for the Paris Attacks,” The New Yorker, November 19, 2015
       2.  “None of the communications…”-- David Gauthier-Villars, “Paris Attacks Show Cracks in France’s Counterterrorism Effort,” Wall Street Journal, November 23, 2015

       3.  “Testimony of General Alexander…”--  Ellen Nakashima,“Officials: Surveillance programs foiled more than 50 terrorist plots.” Washington Post, June 18, 2013

       4.  “A third NSA program…”-- Glenn Greenwald, “XKeyscore: NSA tool collects 'nearly everything a user does on the internet,” Guardian. July 31, 2013

       5.  “To assist furtive Internet users…”--  Jacob Appelbaum and Laura Poitras, “Edward Snowden Interview: The NSA and Its Willing Helpers.” Spiegel Online International. Jul 8, 2013

       6.  “Within weeks of the…”—Morell, op.cit. p.294

       7.  : What heightened Morell’s concern…”—ibid. p.315

       8.  “The NSA was also…”—Author’s interview with Source A

       9.  “Admiral Rogers, the new…”-- Bill Gertz, “NSA Director: Snowden’s Leaks Helped Terrorists Avoid Tracking,” Washington Free Beacon,February 24, 2015


















     10.      APPENDEX A
        SPIES AND ESPIONAGE SOURCES 
[TK]
























4





"
IMAGES-010-HOUSE_OVERSIGHT_029848.txt,"From: Richard Kahn [i

Sent: 1/26/2017 2:16:35 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Trump

Importance: — High

love his negotiating style as he makes me look soft..

President Donald Trump threatened Thursday to
cancel a meeting with Mexican President Enrique
Pena Nieto after Pena Nieto reiterated that Mexico
would not pay for a border wall and suggested he

could cancel the meeting.

Donald J. Trump
v¥ @realDonaldTrump

The U.S. has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of
NAFTA with massive numbers...

Donald J. Trump
v¥ @realDonaldTrump

of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to
cancel the upcoming meeting.

HOUSE_OVERSIGHT_029848
"
IMAGES-012-HOUSE_OVERSIGHT_033011.txt,"From: jeffrey E. [jeevacation@gmail.com]
Sent: 6/17/2017 4:31:26 PM
To: Jabor Y.

https://www.statnews.com/2017/01/16/donald-trump-palm-beach-doctor/

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_03301 1
"
IMAGES-003-HOUSE_OVERSIGHT_015366.txt,"woven into his performances. But as clubs became increasingly afraid to
hire him, he devoted more and more time and energy to the law.

In less than two years, Lenny was arrested 15 times. Club owners
were afraid to book him. He couldn’ t get a gig in six months. On a
Christmas day, he was alone in his hotel room, and | brought him a $500
bill. With a large safety pin, he attached it to his denim jacket. When he
finally got a booking in Monterey, he admitted, “I feel like it's taking me
away from my work.”

Lenny lived way up in the hills. His house was protected by barbed
wire and a concrete gate, except that it was always open. He had a wall-to-
wall one-way mirror in his living room, but when the sun was shining you
could see into the room instead of out. He was occasionally hassled by
police on his own property. One evening in October 1963, we were talking
while he was shaving, when four officers suddenly appeared, loud and
obnoxious. He asked them to leave unless they had a search warrant.

One of the cops took out his gun. “Here's my search warrant,” he
said. Then Lenny and the cops had a discussion about the law, such as the
rules of evidence, and after half an hour they left. Lenny tried to take it all
in stride, but the encounter was depressing, and he changed his mind

about going out that night.

HOUSE_OVERSIGHT_015366
"
IMAGES-009-HOUSE_OVERSIGHT_026478.txt,"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 affected” specific FBI actions in the Hillary Clinton email investigation, it nonetheless

affects the legality of the Trump-Russia collusion inquiry, code-named Crossfire Hurricane.

Crossfire was launched only months before the 2016 election. Its FBI progenitors—the same ones
who had investigated Mrs. Clinton—deployed at least one informant to probe Trump campaign
advisers, obtained Foreign Intelligence Surveillance Court wiretap warrants, issued national security
letters to gather records, and unmasked the identities of campaign officials who were surveilled. They

also repeatedly leaked investigative information.

Mr. Horowitz is separately scrutinizing Crossfire and isn’t expected to finish for months. But the
current report reveals that FBI officials displayed not merely an appearance of bias against Donald
Trump, but animus bordering on hatred. Peter Strzok, who led both the Clinton and Trump
investigations, confidently assuaged a colleague’s fear that Mr. Trump would become president: “No
he won’t. We’ll stop it.” An unnamed FBI lawyer assigned to Crossfire told a colleague he was
“devastated” and “numb” after Mr. Trump won, while declaring to another FBI attorney: “Viva le

resistance.”

The report highlights the FBI’s failure to act promptly upon discovering that Anthony Weiner’s laptop
contained thousands of Mrs. Clinton’s emails. Investigators justified the delay by citing the “higher
priority” of Crossfire. But Mr. Horowitz writes: “We did not have confidence that Strzok’s decision to
prioritize the Russia investigation over following up on [the] investigative lead discovered on the

Weiner laptop was free from bias.”

Similarly, although Mr. Horowitz found no evidence that then-FBI Director James Comey was trying
to influence the election, Mr. Comey did make decisions based on political considerations. He told the
inspector general that his election-eve decision to reopen the Clinton email investigation was

motivated by a desire to protect her assumed presidency’s legitimacy.

The inspector general wrote that Mr. Strzok’s text messages “‘created the appearance that investigative
decisions were impacted by bias or improper considerations.” The report adds, importantly, that “most
of the text messages raising such questions pertained to the Russia investigation.” Given how biases
ineluctably shape behavior, these facts create a strong inference that by squelching the Clinton

investigation and building a narrative of Trump-Russia collusion, a group of government officials

HOUSE_OVERSIGHT_026478
"
IMAGES-007-HOUSE_OVERSIGHT_024105.txt,"Appendix 2

All Funds Gross and Net Returns

$ amounts in millions, as of March 31, 2014

Total Cost Realized Unrealized Realized Overall Realized Overall

New Leaf Ventures II, L.P. (2008)
New Leaf Ventures I, L.P. (2005)
Sprout Capital IX, L.P. (2000) (Healthcare Technology)

Sprout Capital VIL, L.P. (1998) (Healthcare Technology)

Sprout Capital VII, L.P. (1995) (Healthcare Technology)

Sprout Growth II, L-P. (1995) (Healthcare Technology)

Paid-In Distributed Equity In Total Distributed / Total Value/ Total Value
Capital Value Fund Value Paid In Paid In IRR

Fund Size

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) 1,071.5 $71.1

Sprout Capital VIIL, 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) 207.0

$56.3

Sprout Growth IL, L.P. (1995) (Healthcare Technology)

94 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024105
"
IMAGES-004-HOUSE_OVERSIGHT_017777.txt,"Case 1:19-cv-03377 Document 1-8 Filed 04/16/19 Page 7 of 16

http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303

Some friends remember that in the late 80s Epstein would offer to upgrade the airline tickets of
good friends by affixing first-class stickers; the only problem was that the stickers turned out to
be unofficial. Sometimes the technique worked, but other times it didn’t, and the unwitting
recipients found themselves exiled to coach. (Epstein has claimed that he paid for the upgrades,
and had no knowledge of the stickers.) Many of those who benefited from Epstein’s largesse
claim that his generosity comes with no strings attached. “I never felt he wanted anything from
me in return,” says one old friend, who received a first-class upgrade.

Epstein is known about town as a man who loves women—lots of them, mostly young. Model
types have been heard saying they are full of gratitude to Epstein for flying them around, and he
is a familiar face to many of the Victoria’s Secret girls. One young woman recalls being
summoned by Ghislaine Maxwell to a concert at Epstein’s town house, where the women
seemed to outnumber the men by far. “These were not women you’d see at Upper East Side
dinners,” the woman recalls. “Many seemed foreign and dressed a little bizarrely.” This same
guest also attended a cocktail party thrown by Maxwell that Prince Andrew attended, which was
filled, she says, with young Russian models. “Some of the guests were horrified,” the woman
says.

“He’s reckless,” says a former business associate, “and he’s gotten more so. Money does that to
you. He’s breaking the oath he made to himself—that he would never do anything that would
expose him in the media. Right now, in the wake of the publicity following his trip with Clinton,
he must be in a very difficult place.”

According to S.E.C. and other legal documents unearthed by VANITY FAIR, Epstein may have
good reason to keep his past cloaked in secrecy: his real mentor, it might seem, was not Leslie
Wexner but Steven Jude Hoffenberg, 57, who, for a few months before the S.E.C. sued to freeze
his assets in 1993, was trying to buy the New York Post. He is currently incarcerated in the
Federal Medical Center in Devens, Massachusetts, serving a 20-year sentence for bilking
investors out of more than $450 million in one of the largest Ponzi schemes in American history.

When Epstein met Hoffenberg in London in the 1980s, the latter was the charismatic, audacious
head of the Towers Financial Corporation, a collection agency that was supposed to buy debts
that people owed to hospitals, banks, and phone companies. But Hoffenberg began using
company funds to pay off earlier investors and service a lavish lifestyle that included a mansion
on Long Island, homes on Manhattan’s Sutton Place and in Florida, and a fleet of cars and
planes.

Hoffenberg and Epstein had much in common. Both were smart and obsessed with making
money. Both were from Brooklyn. According to Hoffenberg, the two men were introduced by
Douglas Leese, a defense contractor. Epstein has said they were introduced by John Mitchell, the
late attorney general.

Epstein had been running International Assets Group Inc. (I.A.G.), a consulting company, out of
his apartment in the Solo building on East 66th Street in New York. Though he has claimed that
he managed money for billionaires only, in a 1989 deposition he testified that he spent 80
percent of his time assisting people recover stolen money from fraudulent brokers and lawyers.

HOUSE_OVERSIGHT_017777
"
IMAGES-004-HOUSE_OVERSIGHT_018444.txt,"welcome-to-kink-research. html

In 2012, Bitch Magazine ran a series called ""Thinking Kink"" by Catherine Scott, which
examines S&M and culture from a feminist perspective:
http://www.allthatchas.blogspot.co.uk/2012/08/all-of-my-thinking-kink-posts-for-

bitch. html
In Person

If you've decided that you want to start attending workshops, discussion groups, parties,
or other BDSM events in person, please keep in mind that not everyone is going to mesh
well with their local BDSM groups. If you don't like your local BDSM group, then don't
force yourself to participate! That said, I generally encourage people to get into their
local community, because it truly can be an amazing resource -- it's way more than just a
place to meet partners.

If you make an account on FetLife, you may be able to join groups for your area (for
example, if you live in Chicago, then you should look for Chicago groups), where local
issues or events will be discussed and publicized.

For those aged 18-35, many major cities have branches of The Next Generation, a.k.a. the
local ""kinky youth group.”

Otherwise, just Google around. It's much easier these days than it was for our parents.
ok ook

This resource list can be found on the Internet at:

http://clarissethorn.com/blog/bdsm-resources/

Table of Contents

KK Ok

Here's a link to go back to The Very Beginning.
And here's a link to the Glossary.

Throughout this book, footnotes will look like links in the text. Click the link to go to the
footnote. At the end of each footnote I've included a backlink to the context you came
from.

I write both personal narratives and cultural analysis. Almost all my writing mixes the
two, but most of my pieces incline more towards one than the other. Accordingly, I've
tagged all the articles in this book as either [storytime] or [theory].

te ok ok

HOUSE_OVERSIGHT_018444
"
IMAGES-008-HOUSE_OVERSIGHT_025538.txt,"with author Michael Pollan on Joel Barlow (and colonial agriculture)

with economist Lawrence Summers on Oliver Wendell Holmes, (and technology and “one hoss shay”
depreciation)

with Harvard students at the Nantucket Whaling Museum and with , John Steele, editor of the science
magazine, Nautlilus, on Lowell and Melville

with Vice President Al Gore on Ralph Waldo Emerson ,and, with eco-critic Lawrence Buell (with footage
taped on the Concord River as well as in Harvard’s Houghton Rare Book Library )

with a dozen Harvard students and Boston area school teachers on Emily Dickinson’s “skies” (shot at Emily
Dickinson’s home in Amherst Massachusetts) and with ED’s original mss. at Harvard University

with Jane Pickering In Harvard's Museum of Natural History on Marianne Moore, zoology and science
museums

with Martin Espada and other New Yorkers (footage shot on the East River) on Whitman and urban
greenspace and with Susan Howe on Stevens and parks

with Richard Dawkins on Frost, evolution and probability and with Jay Parini, Frost biographer, in Frost’s
cabin on “The Road not Taken”.

with Director of the College Board (and writer of the Common Core Standards) , David Coleman on Robert
Frost’s “Birches” (filmed in a birch grove)

with Peter Galison on Einstein and Modernism (taped in the Harvard Scientific Instruments collection in the
Harvard Science Center) and with author Walter Isaacson on Einstein and Modernism (Fogg Museum)

with Ray Dalio on Marianne Moore( in Rajah Ampat with Conservation International); and with Jane
Pickering, Head of the Harvard Natural History Museum, ( filmed in the Harvard Museum of Natural History)

with Stefan Weiss, Walt Mossberg and David Malan on coding, computer language and L-A-N-G-U-A-G-E
poetry

HOUSE_OVERSIGHT_025538
"
IMAGES-011-HOUSE_OVERSIGHT_030978.txt,"From: J [jeevacation@gmail.com]

Sent: 5/29/2019 4:47:32 PM
To: Martin G. Weinberg
Subject: Re: FW: Reporter question

On Wed, May 29, 2019 at 12:45 PM Martin G. Weinberg wrote:

Martin G. Weinberg, Esq.
20 Park Plaza

Suite 1000

Boston, MA 02116

This Electronic Message contains information from the Law Office of

Martin G. Weinberg, P.C., and may be privileged. The information is intended for the use of the addressee only. If you
are not the addressee, please note that any disclosure, copying, distribution, or use of the contents of this message is
prohibited.

From: Kate Briquelet

Sent: Wednesday, May 29, 2019 12:34 PM
To: Martin Weinberg

Subject: Re: Reporter question

Hi Marty,

Hope all is well. Noticed this Guardian story about Michael Wolff's new book, which states Donald Trump
purchased a Palm Beach property Mr. Epstein had planned to buy, behind Mr. Epstein's back. And that Mr.
Epstein threatened to expose Trump's shady real estate deals. Do you know anything about this? Does Mr.
Epstein have any knowledge of illegal or suspicious dealings by President Trump?

https://www.theguardian.com/us-news/2019/may/28/bannon-trump-organization-criminal-enterprise-
comments-michael-wolff-book

Also, we plan on running a story this Friday about the Crime Victims' Rights Act suit, and the Jane Does'
proposed remedies. The alleged victims want the U.S. Attorney's Office to rescind the immunity provisions in
the NPA, and to pursue a prosecution against Mr. Epstein and his co-conspirators. Can you comment on this?

Thanks so much!

HOUSE_OVERSIGHT_030978
"
IMAGES-007-HOUSE_OVERSIGHT_022574.txt,"In civil cases, a company may similarly be required
to retain an independent compliance consultant or moni-
tor to provide an independent, third-party review of the
company’s internal controls. The consultant recommends
improvements, to the extent necessary, which the company
must adopt. When both DOJ and SEC require a com-
pany to retain a monitor, the two agencies have been able
to coordinate their requirements so that the company can
retain one monitor to fulfill both sets of requirements.

The most successful monitoring relationships are
those in which the company embraces the monitor or con-
sultant. If the company takes the recommendations and
suggestions seriously and uses the monitoring period as a
time to find and fix any outstanding compliance issues, the
company can emerge from the monitorship with a stronger,

long-lasting compliance program.

FCPA Penalties,
Sanctions, and
Remedies

HOUSE_OVERSIGHT_022574
"
IMAGES-008-HOUSE_OVERSIGHT_024626.txt,"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, but 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 editor
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 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

HOUSE_OVERSIGHT_024626
"
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Is Read: Yes

Is Invitation: No

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Sender: e:jeeitunes@gmail.com

Time: 06/13/19 02:43:42 AM (582111822)
Flags: 1150981

Is Read: No

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tanker-incident-in-the-gulf-of-oman. html

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Message: The Federal Deposit Insurance Corporation (FDIC) is an independent agency of
the United States government that protects the funds of the little guy FDIC insurance
is backed by the full faith and credit of the United States government. Since the FDIC
was established in 1933, no depositor has lost a penny of FDIC-insured funds. FDIC
insurance covers all deposit accounts, including: Checking accounts Savings
accounts Money market deposit accounts Certificates of deposit FDIC insurance
does not cover the BIG GUYS ie, other financial products and services that banks may
offer, such as stocks, bonds, mutual funds, life insurance policies, annuities or
securities. The standard insurance amount is $250,000 per depositor, per insured bank,
for each account ownership categor

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GUID: 2AD63804-2017-4F06-BE3F-91E68457E257

Message: straits of hormuz right on schedule

Sender: PY

Time: 06/13/19 05:49:53 AM (582122993)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 8BCCE397-3390-4362-8F09-E9C2E05ED14F

HOUSE_OVERSIGHT_027766
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on Thursday to discus
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discussed secretly taping the president and invoking the 25th Amendment.
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investigation and has
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body"", ""role"": ""body"", ""text""™:"" "",""type™:""text""}, {""components"": [{""caption"":"" Philip
Fong/Agence France-Presse 4€"" Getty Images"", ""captionComponent"":{""text"":"" Philip
Fong/Agence France-Presse 4€"" Getty

Images""},""identifier"":""100000006124108 Sba95bl222d6f"", ""imageldentifier"":""ae0abe56947571

5759ce29e7677el1d36"",""

layout"": ""fullbleed-

HOUSE_OVERSIGHT_028455
"
IMAGES-006-HOUSE_OVERSIGHT_021434.txt,"PAGE INFORMATION SHE

FEDERAL BUREAU OF INV!
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7?

ESTIGATION

ET

HOUSE_OVERSIGHT_021434
"
IMAGES-005-HOUSE_OVERSIGHT_019313.txt,"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 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 Jesu et Purissimo Corde Mariae et Castissimo Corde Ioseph.

is 2s 3s 2 2s ig 2k

Benjamin Harnwell
Founder and President of the Board of Trustees
Dignitatis Humanae Institute

HOUSE_OVERSIGHT_019313
"
IMAGES-002-HOUSE_OVERSIGHT_014431.txt,"this report or its contents.

Bankof America
8 Japan Macro Watch | 14 November 2016 Merrill Lynch

HOUSE_OVERSIGHT_014431
"
IMAGES-001-HOUSE_OVERSIGHT_011929.txt,"http:/Avww.thedailybeast.com/articles/2010/07/22/jeffrey-epstein-pedophile-billionaire-and-
his-sex-den. html

The Billionaire Pedophile's Sex Den

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.

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

Jetfrey 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.

HOUSE_OVERSIGHT_011929
"
IMAGES-008-HOUSE_OVERSIGHT_026031.txt,"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

HOUSE_OVERSIGHT_026031
"
TEXT-001-HOUSE_OVERSIGHT_030368.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 4/7/2018 8:51:55 PM 
To: jeffrey epstein [jeevacation@gmail.com] 
Subject: Fwd: draft 
Importance: High 
----------Forwarded message---------- 
From: jeffrey E. <jeevacation@gmail.com> 
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 
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 030368 
"
IMAGES-010-HOUSE_OVERSIGHT_029860.txt,"Jeffrey Epstein, a former Palm Beach resident, pleaded guilty in Palm Beach County
Circuit Court in 2008 to two prostitution-related charges in connection with having
teenage girls give him sexual massages. (Uma Sanghvi / The Palm Beach Post)
Palm Beach Post Staff Writer

Hide caption

Jeffrey Epstein

Palm Beach Post Staff Writer

Hide caption

Attorney Brad Edwards

Palm Beach Post Staff Writer

Hide caption

Attorney Jack Scarola

Palm Beach Post Staff Writer

By

Posted Oct 3, 2017 at 12:01 AM Updated Oct 4, 2017 at 12:46 AM

Ending years of speculation about how much Palm Beach billionaire Jeffrey Epstein
paid young women who claimed he used them as sex toys, court documents filed last
week show he shelled out $5.5 million to settle lawsuits with three of more than two
dozen teens who sued him.

Responding to requests from Epstein’s attorneys in a complex lawsuit that was
spawned by the sex scandal, attorney Bradley Edwards said the politically-
connected 64-year-old convicted sex offender paid more than $1 million to each of
the three women Edwards represented.

Identified in court papers only by their initials or pseudonyms because of the nature
of the allegations and their youthful ages, L.M. was paid $1 million, E.W. $2 million
and Jane Doe $2.5 million, Edwards said of the settlements he negotiated with
Epstein to end the lawsuits.

Jack Goldberger, one of Epstein’s criminal defense attorneys, on Tuesday declined
comment on the revelations, citing confidentiality agreements that were part of the
settlements. For the same reason, he declined to say whether Epstein paid similar
amounts to settle roughly two dozen lawsuits filed by other young women against
Epstein, claiming he paid them for sex when some were as young as 14 years old.
Attorney Jack Scarola, who is representing Edwards, said his client was compelled

to divulge the confidential settlements to answer questions posed by Epstein’s
attorneys. “Brilliant move on their part,” he said.

HOUSE_OVERSIGHT_029860
"
IMAGES-003-HOUSE_OVERSIGHT_016109.txt,"Index 419

HOUSE_OVERSIGHT_016109
"
IMAGES-001-HOUSE_OVERSIGHT_011097.txt,"Why Invest in Indexes?

The last section showed that index funds offer easy trackability over market hours.

What are the other pros and cons?

On sound microeconomic principle, professional asset management will add value
over index results before deduction of fees. Otherwise they couldn’t stay in business.
The same principle says that the fees will converge to that pre-fee value added. Price
converges to marginal utility (value). Investors bid fees up when fees are less, and
down when they are more. As a rule of thumb, investors should expect to do equally

well in managed or index accounts when fee costs are considered too.

The mechanics of convergence is worth a look. Managed and index funds compete in
a kind of density-dependent flux like hawks and doves in game theory. It pays to be
a hawk when the hawk/dove ratio is too low, and a dove when too high. When
hawks have only hawks to fight, they will win only half the time. Fighting becomes a
losing strategy when it risks more than winning stands to gain. More doves will

mean easier contests.

So it is with asset managers. Index funds (doves) avoid commitment (fights) as to
which firms and sectors will outperform. This neutrality saves the costs of research
needed for commitment (fights). Asset managers (hawks) pay those costs, and
recover them when outperformance results. That means outperforming the index.
But if asset managers collectively managed the whole market, they would become
the index. Some would outperform others, but the whole group cannot outperform
itself. Then it could not recover its research costs. Many would have to close their
doors, leaving the field to index funds which don’t pay those costs, until market

equilibrium was restored.

Then what determines equilibrium? Is the critical variable percent of trades by
managed funds? I thought so for a while. Now| think it’s percent of AUM (market

value of assets under management). My reasoning now is that holds by portfolio

Chapter 8 Banks, Money and Macroeconomics 2/8/16 8

HOUSE_OVERSIGHT_011097
"
IMAGES-002-HOUSE_OVERSIGHT_012726.txt,"Just outside Heraklion, Crete's capital city, the Candia Maris is a Now Live
sprawling beachside resort spanning nearly 10 acres. Although the
property lacks the charm of smaller hotels, it more than compensates
with its amenities, which include tennis courts and seven pools. The
highlight is the vast thalassotherapy spa, which underwent a
multimillion-dollar renovation in 2008.

Click here to visit sale

Sleep in a Palace in Portugal

Vidago Palace - Portugal

HOUSE_OVERSIGHT_012726
"
IMAGES-002-HOUSE_OVERSIGHT_014357.txt,"ane 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.

e 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%
35%
30%
29%
20%
15%
10%

5%

0%
Rising fee related — Increased visibilityon Increased contribution Increased float and
earnings the distribution from RA and GMS _ reduced complexity
segments

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.

« CGhas 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.

e The investment environment hasn’t changed materially in last few weeks -
continues to be tough. Global growth will continue to be muted, and despite the

Bankof America a 2016 Future of Financials Conference | 17 November 2016 43
Merrill Lynch

HOUSE_OVERSIGHT_014357
"
TEXT-001-HOUSE_OVERSIGHT_031710.txt,"From: Darren Indyke 
Sent: 10/13/2016 5:48:10 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Fwd: Google Alert - Jeffrey Epstein 
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: Google Alerts <googlealerts-noreplygoogle.com> 
Subject: Google Alert - Jeffrey Epstein 
Date: October 13, 2016 at 12:44:49 PM EDT 
To: 
Jeffrey Epstein 
. • October 13, 2016 
NEWS 
HOUSE OVERSIGHT 031710 
Anonymous Claims It Has Bill Clinton Underage Rape Video That Will 
'Plunge Race Into Chaos' 
Independent Journal Review 
Bill Clinton, a known associate of billionaire pedophile Jeffrey Epstein, is known to have taken 
26 trips aboard his planes and boats, including an ... 
lag as irrelev—
See more results 
You have received this email because you have subscribed to Google Alerts. 
Unsubscribe I View all your alert. 
Receive this alert as RSS feed 
Send Feedback 
HOUSE OVERSIGHT 031711 
"
IMAGES-002-HOUSE_OVERSIGHT_013438.txt,"The billionaire financier, who attended The Queen's birthday party in 2000, was sentenced to 18 months in prison in 2008,
having secured a plea bargain that prevented full criminal trials. He later settled more than a dozen multi-million dollar civil
lawsuits from his alleged victims out of court.

The previously undisclosed journal, however, “detailed the full scope and the extent of Epstein's involvement with underage
girls’, according to lawyers for several alleged victims.

Prosecutor of the Duke of York’s sex offender friend Jeffrey Epstein speaks of

It contained the names of girls that Epstein allegedly abused in “Michigan, California, West Palm Beach, New York, New
Mexico, and Paris”, according to court papers.

It also listed extensive contact details for Epstein’s house guests, who had “no connection whatsoever’ with alleged
offences, including Mr Clinton, the former US President, and Mr Trump, the famous businessman.

It could not be confirmed last night whether the book contained contact details for the Duke. One lawyer for Epstein’s
alleged victims said: “I would bet he is, because he is that good a friend”.

There is no suggestion that the Duke did anything wrong. However he has this week faced a string of questions about his
judgment due to his association with a convicted child sex offender.

Epstein kept 21 different phone numbers for Mr Clinton, including some for his assistant and also “Clinton’s personal
numbers’, the court papers state.

.9

Alfredo Rodriguez, a servant who “saw numerous underage girls coming into Epstein’s mansion for purported ‘massages’,
took the journal and did not mention it to investigators.

“Because of the importance of the information in the journal to the civil cases, Mr Rodriguez called it ‘The Holy Grail’,” the
court documents state.

He attempted to sell the book to lawyers for $50,000 (£31,000) in August 2009 - by which time Epstein had already been
sentenced and released from jail.

The lawyers contacted the FBI, who sent an undercover agent to buy the book from Rodriguez. He was then arrested and
charged with obstruction of justice.

HOUSE_OVERSIGHT_013438
"
IMAGES-005-HOUSE_OVERSIGHT_019475.txt,"I’ve been discussing with fi how we can work together to raise
money for children and education. Therefore, | wholeheartedly support her
visa application.

Please feel free to contact me if you have any further questions or
concerns.

Best Regards,

David Blaine

HOUSE_OVERSIGHT_019475
"
IMAGES-009-HOUSE_OVERSIGHT_027000.txt,"WHEN: WHERE:
Wed, 17th Jul 2019 Emmanuel Centre
6:45pm - 8:00pm 9-23 Marsham Street

In her book, The Moment of Lift! How Empowering Women Changes the World, Melinda Gates
makes a bold claim: when we lift up women, we lift up humanity.

HOUSE_OVERSIGHT_027000
"
IMAGES-009-HOUSE_OVERSIGHT_028333.txt,"been telling people such. (McCabe, another frequent target of Trumpa€™s ire, was fired

from the FBI this March and may be prosecuted for lying
had authorized.)"",""textStyle"":"" anf-cts-1"",""type""™:""text""

medium_rectangle advertisement

6"",""layout"":"" defaultComponentLayout"", ""role"":""medium_rec
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37"", ""Layout"": ""bodyLayout"", ""role"": ""body"",""
mind what was going on befor
May 16, 2017. For one,
intelligence to the Russian foreign minis

to investigators about leaks he

Rosenstein allegedly made

}, (""identitier"":"" ant—
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the d4€erecordinga€ comments on
it had just been reported that Trump had disclosed classified
ter and ambassador in the Oval Office. For

another, Comeya€™s accounts of Trumpd€™s private pressure on him had just leaked out.
It was a wild time."",""textStyle"":"" anf-cts-

1"", ""type™:""text""}, (""additions"": [{""URL"":""h
hvNIQeowo7A"", ""range"": {""Length"":23, ""start""

ttps://apple.news/AHyL7Ral 6SB-
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15"",""layout""™: ""bodyLayout"", ""role"": ""body"", ""text"":""At the time, Trump was interviewing

candidates to replace Comey as FBI director,
appoint a corrupt crony whod€™d made him private promises.

and it was widely feared that hedae™d
The Washington Post reports

that Rosensteind€™s suggestion was that FBI director candidates record their private

interviews with Trump."",""textStyle""™:

heading3-5"", ""layou

W

_anf-cts-1"",""type"":""text""}, {""identifier"":
t"":""headinglLayout"", ""role"": ""heading3"",""text"":""Dueling leaks about

W

_anf-

Rosenstein resigning or being fired spilled out Monday morning 4€"" but it seems the
decision has been put

off"", ""textStyle""™:""

ll.com/homenews/media/407829-foxs-ingraham-calls-for-trump-to-fir

rosenstein"", ""range
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headinglTextStyle"", ""type""™:""text""}, {""additions""™: [{""URL"":""https://thehi

"":{""length"":7,""start"":127}, ""type"":""link""}, {""URL"":""https://apple.news/
UZryo"", ""range"": {""length"":27,""start"":201}, ""type"": ""link""}],""identifier""

:""_ anf-body-
16"",""inlineTextStyles"":[{""range"":{""length"":3,""start"":229},""textStyle"":"" anf-ts-
2""}],""layout"":""bodyLayout"", ""role"": ""body"", ""text"": ""Trumpa€™s staunchest supporters were

split on what he should do in the wake of the Times report.

On Friday, Foxa€™s Laura

Ingraham tweeted that 4€eRod Rosenstein must be fired today,a€ but Foxa€™s Sean Hannity

notably urged the president not to fire anyone.

(Ingraham later deleted her

tweet.)"",""textStyle"":""  anf-cts-

1"", ""type™:""text""}, {""additions"": [{""URL"":""https://apple.news/AmyEuC7xxSNi5WySPp6sjqg"", ""ra
nge"":{""length"":12,""start"":302},""type™:""link""}],""identifier"":"" anf-body-

17"",""layout""™: ""bodyLayout"", ""role"": ""body"", ""text"":""One interesting line of argument from

some Trump supporters was that the allegations about Rosenstein wer
memos written by Andrew McCabe 4€"" who the president has tried to at
for months now, and who may soon be prosecuted. Firing Rosenstein based on McCabeade™s

memos, some thought, would grant him

Le W type"" : ""coext"" } ,
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bomb, publishing a short post claiming that
to White House chief of staff John Kelly,

Jonathan Swan dropped a
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sident Trump."", ""textStyle"":
"":""https://apple.news/A0XwJxhwlQFKTp UURfgskA"", ""ra

being fired by Pre
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frenzy of leaks claiming several different things.

{""additions""™: [{""URI

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based primarily on
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credibility."",""textstyle"":"" anf-cts-

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on Monday morning, Axiosd€™s

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Some claimed Rosenstein was not

going to resign and was instead going to make Trump fire him. Others claimed he was
merely Aa€eexpecting to be fired.d€ Others said he had offered his resignation but
stressed that it had not been accepted. (Vanity Faird€™s Gabe Sherman even suggested
the spectacle may have been entirely intended to distract from sexual assault

accusations against Supreme Court nominee Brett Kavanaugh.)

know what was happening as Rosenstein headed over to the White

House."", ""textStyle

"":"" anf-cts-—

But no one really seemed to

1"", ""type""™:""text""}, {(""additions"": [{""URL"":""https://twitter.com/PressSec/status/10442672863
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20"", ""Layout"": ""body
with Trump (who is
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Layout"", ""role"": ""body"", ""text"":""So, after all that,

_anf-body-
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,""textStyle""™:"" anf-

HOUSE_OVERSIGHT_028333
"
IMAGES-006-HOUSE_OVERSIGHT_021352.txt,"connection with the nonhuman world.
The metaphorical and analogical
reasoning so characteristic of religious
interpretations of the world is not merely
a rhetorical flourish but is, instead,
closely tied to general psychological
processes in which self-knowledge and
knowledge of other humans function as
the most readily accessible starting
points for inferences we make about
human connections to the most
comprehensive and consequential forces
at work in the nonhuman world.™

Anthropomorphism’s dual
perception of nonhuman phenomena—as
simultaneously both like and unlike
human persons—has shaped modern
religious and spiritual perceptions in two
especially intriguing directions. In one
case, it has fastened on the difference
between the human and the divine and
cultivated iconoclastic perceptions of the
spiritual in which anthropomorphic
representation is regarded as a
dangerously misleading, albeit
necessary, accommodation to the
limitations of human reason."" In the
other case, it has emphasized the point of
metaphorical identity between the human
and the nonhuman. Thus, an ancient
idea held that the physical universe was
a macrocosm mirroring the human
microcosm, and this included what
literary critics have named “the pathetic
fallacy,” that is, a sympathetic response
in nature to the affective states of
humans. The early modern political
philosopher Hugo Grotius (1583-1645),
for example, described how human
disobedience to divine law prompted an
anthropomorphic emotional response
from nature: “with sad motion
wheeling, let the sky lament and
mourn.”” In the modern history of
religions, these two modes of
anthropomorphism, one accentuating

106

Page

difference and the other accentuating
identity, have varied according to social
circumstance, rhetorical purpose, and
political ramifications. “Sinners in the
Hands of an Angry God” illustrates, in
one historical context, how
anthropomorphic language crosses the
boundary of the human in order to
interpret human ethical responsibility to
both the human and the nonhuman
environment.

The Rhetoric of Divine Wrath

Clearly, Edwards’s
anthropomorphic rhetoric destabilized in
a terrifying way the Enfield
congregation’s complacent perceptions
of the world. It did so by starting from
an assumption that Edwards and the
congregation shared: that humanity’s
ultimate environment should be
construed, anthropomorphically, as a
cosmic society held together by a
covenant that God had made with the
whole of creation. The sermon induced
terror among the congregants by
graphically portraying their own
responsibility for disrupting the
harmonious order of this all-
encompassing society and provoking
divine wrath for their rebellion against
the covenant.

The primary evidence for this
divine wrath came not, however, from
the external orders of nature and divine
providence, which Edwards imagined
working together to maintain the
harmonious order of the world. Instead,
wrath had arisen from a clash between
the benign will of the world and the
rebellious human will: “there is laid in
the very nature of carnal men a
foundation for the torments of hell:
there are those corrupt principles, in
reigning power in them, and in full
possession of them, that are seeds of hell

HOUSE_OVERSIGHT_021352
"
IMAGES-004-HOUSE_OVERSIGHT_017011.txt,"I. Overview of Google Books Digitization

In 2004, Google began scanning books to make their contents searchable and discoverable online. To
date, Google has scanned over fifteen million books: over 11% of all the books ever published. The
collection contains over five billion pages and two trillion words, with books dating back to as early as
1473 and with text in 478 languages. Over two million of these scanned books were given directly to
Google by their publishers; the rest are borrowed from large libraries such as the University of Michigan
and the New York Public Library. The scanning effort involves significant engineering challenges, some of
which are highly relevant to the construction of the historical n-grams corpus. We survey those issues
here.

The result of the next three steps is a collection of digital texts associated with particular book editions, as
well as composite metadata for each edition combining the information contained in all metadata sources.

1.1. Metadata

Over 100 sources of metadata information were used by Google to generate a comprehensive catalog of
books. Some of these sources are library catalogs (e.g., the list of books in the collections of University of
Michigan, or union catalogs such as the collective list of books in Bosnian libraries), some are from
retailers (e.g., Decitre, a French bookseller), and some are from commercial aggregators (e.g., Ingram).
In addition, Google also receives metadata from its 30,000 partner publishers. Each metadata source
consists of a series of digital records, typically in either the MARC format favored by libraries, or the ONIX
format used by the publishing industry. Each record refers to either a specific edition of a book or a
physical copy of a book on a library shelf, and contains conventional bibliographic data such as title,
author(s), publisher, date of publication, and language(s) of publication.

Cataloguing practices vary widely among these sources, and even within a single source over time. Thus
two records for the same edition will often differ in multiple fields. This is especially true for serials (e.g.,
the Congressional Record) and multivolume works such as sets (e.g., the three volumes of The Lord of
the Rings).

The matter is further complicated by ambiguities in the definition of the word ‘book’ itself. Including
translations, there are over three thousand editions derived from Mark Twain’s original Tom Sawyer.

Google’s process of converting the billions of metadata records into a single nonredundant database of
book editions consists of the following principal steps:

1. Coarsely dividing the billions of metadata records into groups that may refer to the same
work (e.g., Tom Sawyer).

2. Identifying and aggregating multivolume works based on the presence of cues from individual
records.

3. Subdividing the group of records corresponding to each work into constituent groups
corresponding to the various editions (e.g., the 1909 publication of De lotgevallen van Tom
Sawyer, translated from English to Dutch by Johan Braakensiek).

4. Merging the records for each edition into a new “consensus” record.

The result is a set of consensus records, where each record corresponds to a distinct book edition and
work, and where the contents of each record are formed out of fields from multiple sources. The number
of records in this set -- i.e., the number of Known book editions -- increases every year as more books are
written.

In August 2010, this evaluation identified 129 million editions, which is the working estimate we use in this
paper of all the editions ever published (this includes serials and sets but excludes kits, mixed media, and

3

HOUSE_OVERSIGHT_017011
"
IMAGES-004-HOUSE_OVERSIGHT_018322.txt,"desperation in men like Trichet. I’m pretty sure we'll see versions of this same sort
of crisis in many other areas.

More complexity produces more interaction, as you would expect. More pieces of a
system rushing and touching and changing each other in a perpetual and
accelerating dance. That process pushes, in turn, still more emergence. The easier it
is to combine things the more creativity is tickled into life.125 You hear an amazing
mashup of the Bee Gees and Michael Jackson; you download the tools to make your
own. In every aspect of the connected world, growing complexity breeds emergence.
This is true in finance, in terrorism, in bio-development. Some intellectuals and
businessmen worry that we've arrived at the “End of Innovation” now. But this is
unlikely. Connected systems, almost as if they have a mind of their own, create and
surprise. The complex meshes of connection growing around us now, in a sense, are
like a rainforest. They hold and breed and support a range of species native to the
connected climate - things that couldn’t survive elsewhere, that were unimaginable
in an age without connection. Smart medical prediction devices. Apps on your
phone. Autonomous military robots. Self-driving cars. And we know that, lingering
ahead of us now, as well, are a series of technological leaps that will breed still faster
interaction and creation: Quantum computing, for instance, may yet push computer
to speeds to 100 billion times faster than what is achievable with older technology.
Self-taught, reasoning artificial intelltigence will spot patterns invisible to human
minds, they will offer everythying from computer-assisted explanation to whole
new theories of physics and math?°. And autonomous robotic systems will press
into realms where our soft human frame cannot survive - deep underwater
biological cracks, for instance, or hot molecular material mixes. More data will flow
back at us from each of these pipes.!2’ And as it arrives it will give us an even more
granular sense of our links to the world - and how they might be manipulated for
still more invention. “Many biological and social theories were impossible to test
because of lack of data,” one team of cyber-systems researchers noted. “Now we
have not only the data, but the methods to analyze it.” The result, they add with a
fast breath of relief that could be laid upon many sciences or theories we’ve
squeezed from limited data: “We are recovering from extreme reductionism in
science.”128

When we say the network “wants” something, it’s a useful anthropomorphism: A
billion connected users want to be linked, so Facebook emerges. A trillon web pages
demand to be searched, so Google appears. Making such ties produces, first, that

125 The easier it is to combine things: See Eric Schmidt, “Conversation with Eric
Schmidt hosted by Danny Sullivan” at Search Engine Strategies Conference, August 9,
2006.p.1-2 2013 Nathaniel W. Husted

126 Self-taught: Michael Nielsen, “The Rise of Computer-Aided Explanation”, Quanta
Magazine, June 23 2015

127 More data: Caitriona H. Heinl, “Artificial (Intelligence) Agents and Active Cyber
Defence: Policy Implications” in 6th International Conference on Cyber Conflict,
P.Brangetto, MMaybaum, J.Stinissen (Eds.) 2014 p, 60

128 “We are recovering’ :Gershonesen, et al. p 2-4

90

HOUSE_OVERSIGHT_018322
"
IMAGES-003-HOUSE_OVERSIGHT_015400.txt,"Jerry: Anyway, | might get this Stand-up Comedy Award tonight, and
I' m_ trying to think of what to say that will sound completely
spontaneous. So, Kramer, what’ s your current scheme?

Kramer: Okay, | got this idea because of the insurance companies.
Blue Cross will pay for six Viagra pills a month. Well, that’ s very arbitrary,
isn’ tit? | mean | get six hard-ons in one day.

Jerry: That’ s the national average, you know, six hard-ons a day.

Kramer: Jerry, believe me, Kramer don’ t have “average” hard-
ons. But here’ s my merchandising plan. It’ s for one-night stands—a
combination package of Viagra and RU486, the morning-after pill. It’ sa
natural for the unisex market.

[Cut to the restaurant. Elaine and George are sitting at the table]

Elaine: But, George, that’ s stealing.

George: Yep. And from my own parents.

Elaine: You have no scruples. How do you know your father isn’ t
counting the number of times he “makes whoopee” with your mother?
He’ Il rea/ize that you took some of his Viagra pills when he thinks he has
nine more times to go but the bottle has only five pills left?

George: You think he keeps a tally sheet? He’ II never even suspect.

HOUSE_OVERSIGHT_015400
"
IMAGES-009-HOUSE_OVERSIGHT_027014.txt,"o The Muslim Brotherhood would still have
come to power in Egypt

o Syria would still be mired in a bloody civil

War

o And Iran would still be pursuing nuclear
capabilities and a hegemonic role in the
Gulf

And ladies and gentlemen,

It is Iran's pursuit of nuclear capabilities which
is the greatest challenge facing Israel, the
region and the world today...

A nuclear Iran spells the end of any conceivable
non-proliferation regime.

Saudi Arabia, Turkey and later Egypt will
follow suit. In the future, even terrorist groups
may try.

Diplomatic efforts continue. Sanctions are
unprecedented and hurting, but frankly — while
exhausting all diplomatic means is
understandable — | do not believe it will lead to

6

HOUSE_OVERSIGHT_027014
"
IMAGES-006-HOUSE_OVERSIGHT_021346.txt,"16.

17.

18.

19.

20.

EAP

22.

Metaphors and the market:
Consequences and preconditions of
agent and object metaphors in stock
market commentary. Organizational
Behavior and Human Decision
Processes, 102, 174-192.

Berman, P. S. (1994). Rats, pigs, and
statues on trial: The creation of
cultural narratives in the prosecution
of animals and inanimate objects.
NYU Law Review, 69, 288-326.

Sunstein, C.R., & Nussbaum, M.C.
(2004). Animal rights: Current
debates and new directions. New
York: Oxford University Press.

Vohs, K.D., & Schooler, J.W.
(2008). The value of believing in
free will: Encouraging a belief in
determinism increases cheating.
Psychological Science, 19, 49-54.

Norenzayan, A., & Shariff, A.F.
(2008). The origin and evolution of
religious prosociality. Science, 322,
58-62.

Buss, A. H. (1980).  Self-
Consciousness and social anxiety.
San Francisco, CA: W.H. Freeman.

Beilock, S. L. & Carr, T. H. (2005).
When high-powered people fail:
Working memory and ""choking
under pressure” in math.
Psychological Science, 16, 101-105.

Allen, K. M., Blascovich, J., &
Mendes, W.B. (2002).
Cardiovascular reactivity and the
presence of pets, friends, and
spouses: The truth about cats and
dogs. Psychosomatic Medicine, 64,
727-739.

Page | 100

HOUSE_OVERSIGHT_021346
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IMAGES-004-HOUSE_OVERSIGHT_017005.txt,"Frequency

Frequency

m

Median frequency (log)

1.5

1.0

0.5

2.0

1.5

1.0

0.5

e-4
_ 1+ — 1883 |
g — 1910
5 4
ig Fearn. — 1950
= 15 7 4
=
0 4 1 4 1 7
1900, Yea 1950

1975

1925 2000

Year

1875 1900 1950

9
r.)

Mickey Mouse
Marilyn Monroe
Che Guevara
Neil Armstrong
Buzz Aldrin
Barbara Walters
Jimmy Carter

1900 1920 1930 1950 1975 2000
Year
107 -= + 1
ge
=
ra
E 10
° wy Halt life:
= Fe : 73 yrs
3
Q 1800
408 £ Year 2
¥
é
< 2
s =
= =
g =
10° | i 1 4
0 34 70

Age of the 1865 cohort

ius]

1 r 1 : 1 ""
100% | Year of invention 1
— 1880-1920
— — 1840-1880
SS 75% | — 1800-1840
53
a4
2a
=o 50%
ca
Gu 3 | — telephone
5° 5 5; — radio
ox 2
=~ 2%} ©
irs oO
0% r "" : '
0 25 50 75 100 125 150
Years since invention
— Cordell Hull , , , , ,
— Marcel Proust
6 — Onille Wright
10°F — Emest Rutherford q
Ss — Georges Rouault
= Tomine wf
3 107 5
=
o
re)
i 10% 5 , 'K
\\ \
i j\t
MT |
10° ih (imi,
1871 1900 1920 1940 1960 1980 2000
Year

t T r T t
Political figures

— Authors
0.8 | — Actors
roy — Biologists
5 — Artists
> 0.6 | — Physicists and chemists 4
Lon a
oO —— Mathematicians
&
& 04
no}
9)
= 02
0.0
0 10 20 30 40 50 60 70 = 80
Age of the cohort

HOUSE_OVERSIGHT_017005
"
IMAGES-007-HOUSE_OVERSIGHT_023118.txt,"mensjournal.com / by Eric Adams These smart telescopes let you

travel the universe from your yard—and bring back photographic

souvenirs.

HOUSE_OVERSIGHT_023118
"
IMAGES-004-HOUSE_OVERSIGHT_018336.txt,"misbehavior” that defies simple analysis. You can’t predict where you might be
attacked by merely looking at the possible holes in each piece. Rather, it’s the whole
system that breeds risks. It acts in ways that the designer could not have predicted
in advance. “Clearly the system itself is misbehaving,” the researcher Jeffrey Mogul
writes of his study of various cases where networks are cracked in this fashion.
“However, none of the components have failed per-se.”!45

The complexity of the systems themselves has been, not surprisingly, mimicked in
the design of hacking attacks. What was once done by a single Warez Dude is now
handled with division of labor, technical specialization and intensive pre-attack
research. Every innovation in “righteous malware” is quickly copied and used in
dangerous attack tools. The clever modular design of Stuxnet, for instance, was
studied by criminals and was found years later still echoing in weapons aimed at
banks, credit card companies and health insurance firms. “We are not experts in
military history, doctrine, or philosophy,” cybersecurity researchers Stephen Cobb
and Andrew Lee have written, “so we are unaware of the correct word for the
following category of weapons: the ones you deliver to your enemies in re-usable
form.” Cyberattack systems can be dangerous not least because they boomerang.
They are delivered intact, primed for re-use to enemies who may choose to bounce
them back at your banks, hospitals and electrical grids. “Righteous malware is
unique,” Cobb and Lee conclude. “You are giving away your weapons, tactics and
designs simply by using them.” 146

It’s not only American services hunting and using such backdoor keys and battering
rams, of course; not only the NSA that sees its viruses retooled and reused.
Computer security researchers describe opening up the laptops of unwary business
travelers and finding the machines blasted inside by malware and other technical
cancers, carefully planted by a half-dozen intelligence agencies and criminal
organizations. It’s like discovering a closet full of spies in your house, each being
careful not to step on the other’s toes as they watch and listen to your life. Why is my
computer so slow, a government official in a Eurasian capital might ask. It is because
it has been simultaneously pwned by Americans, Russians, Israelis, Chinese, and
maybe a local Mafioso or two - and their code is not running smoothly.

A couple of years ago I had a naive moment when | thought, perhaps, it would be
possible and in everyone’s interest to go back to those simpler, innocent Hacktic
days, when information about vulnerabilities was widely shared and easily
discussed - and holes were quickly patched as a result. | was thinking about the
problem of cybertension between the US and China and suggested applying an

145 “However”: Jeffrey C. Mogul, “Emergent (Mis)behavior vs. Complex Software
Systems”, HP Labs Research Papers, 2006, HPL-2006-2

146 “We are not experts”: Stephen Cobb and Andrew Lee, “Malware is Called
Malicious for a Reason: The Risks of Weaponizing Code” in P. Brangetto, M.
Maybaum, J. Stinissen eds., 6 Annual Conference on Cyber Conflict (NATO
Publications, 2014) 71-82

104

HOUSE_OVERSIGHT_018336
"
IMAGES-003-HOUSE_OVERSIGHT_015414.txt,"“You’ re hilarious. If you ever apologize to a heckler again | will rape
you.” Louis C.K.: “Your show makes me laugh every time | watch it. And
you have pretty eyes” --except that he wrote it after watching Tosh on TV,
but before he learned about the Laugh Factory incident. Nevertheless, he
was excoriated and accused of being a “rape apologist.” But C.K. himself
is no stranger to sexual-assault jokes. Onstage, he has said that he’ s
against rape-- “unless you have a reason, like you wanna fuck someone

and they won’ t let you, in which case what other option do you have?”

Conversely, in an episode of his TV series, Lou/e, he reversed such
roles. After leaving a bar with an especially aggressive woman, Laurie
(played by Melissa Leo), that he had inadvertently met earlier, she
performs fellatio on him in her pickup truck, then insists that he in turn
perform cunnilingus on her. And he refuses. So, she attacks him physically
with unabashed viciousness, mounts him, and he gives in to her
demand. In other words, Laurie rapes Louie. No joke. To watch this scene
was positively jaw-dropping. It served as a reminder of how often
comedians--and their jaded audiences--find prison-rape jokes not only to
be funny, but also, as in the case of pedophile Jerry Sandusky, an act of
delayed justice resulting in laughter that morphs into applause. A VY. Post

headline about pedophile Subway pitchman: “Enjoy a foot long in jail.”

HOUSE_OVERSIGHT_015414
"
IMAGES-002-HOUSE_OVERSIGHT_012732.txt,"These hilltop retreats are some of Phuket's most romantic crash pads Now Live
thanks to sublime panoramic Andaman Sea views and the island's most
discreet staff. All villas include swimmable pools and roomy decks for
sun and shade. The 360 bar attracts the island's best dressed
inhabitants who flock here at sundown for the calm view then stay
sipping colorful cocktails late into the warm night.

Click here to visit sale

Beachfront Zen Near Cancun

La Amada Hotel - Playa Mujeres

HOUSE_OVERSIGHT_012732
"
IMAGES-001-HOUSE_OVERSIGHT_011083.txt,"for grandparents seems to be helping take care of grandchildren. Doesn't that falsify

next generation theory?

Note quite. Retirement typically means dependence on savings or subsidy. The
parental generation subsidizes both the young and the old. Retirees can be

interpreted to some extent as hired though willing caregivers paid for by parents.

That explains part. The rest, I think, is best explained as replenishing a capital
reserve. Nature builds up reserves in good times and depletes them in bad times. A
rise in longevity from what is normally needed for lineage survival is a rise in
human capital reserves. Human capital is the most versatile kind. We geezers have
lost a step. But we remember how it’s done. We particularly remember how
parenting and homemaking are done, since those change least with technology.
Julius Caesar’s nanny, with a few pointers, could probably fill in as a nanny today. If
the parental generation were pulled away to fight a war, or rebuild after a

catastrophe, we oldsters could keep up the home front.

Free growth theory, abundantly proved in the data, is essential to next generation
theory. What each generation invests in the next is all its fitness (total capital). All ex
post growth, up or down, is added or subtracted for free. Catastrophes and windfalls
are the random kind of free growth. Tech gain is the accumulating “secular” (of
ages) kind. ] wouldn't put it past nature to have learned that sustained growth
means rising risk. She could adjust with reserves. We may be selected (a nicer word
than programmed) to build human capital reserves intentionally, whether or not
seeing nature’s motives for the buildup as distinct from our own, when real wealth

doubles with every generation.

That intentional or ex ante part would mean investment in the reserve. It isn’t
targeted to the grandoffspring generation, because they aren’t expected to draw it
down unless needed. All the rest of the buildup of human capital reserves in lifespan

prolongation is best explained as random free growth if my interpretation holds

Chapter 7 Petty’s Idea 2/3/16 24

HOUSE_OVERSIGHT_011083
"
IMAGES-002-HOUSE_OVERSIGHT_014343.txt,"Chart 42: How do you view SNV’s partnerships with online lenders (SoFi/GreenSky)?

70%
60%
50%
40%
30%
20%
10%

0%
Positively. Creates another Cautiously. Unsure how these Indifferent. The exposure is
avenue for loan growth loans will perform duringa —_ relatively small so does not
credit downturn 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% A4T%
45%
40%
35%
30%
25%
20%
15%
10%

5%

0%
Stronger loan Higher interest Better visibility on A pick-up in bank A pull back in the
growth rates the outlook for the M&A activity, stock
Texas economy —_ especially in
and oil prices Texas

Source: BofA Merrill Lynch Global Research

= 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-to-
high $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 S60 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.

Bankof America a 2016 Future of Financials Conference | 17 November 2016 29
Merrill Lynch

HOUSE_OVERSIGHT_014343
"
TEXT-001-HOUSE_OVERSIGHT_019088.txt,"﻿Are Rape Jokes Funny?

     Abortion was still illegal in 1970. At the time, as both an underground abortion referral service and a stand-up satirist, I faced an undefined paradox. I wouldn’t allow victims to become the target of my humor, yet there was one particular routine I did that called for a “rape-in” of legislators’ wives in order to impregnate them so that they would then convince their husbands to decriminalize abortion.
     When abortion was against the law, I thought it would never be legalized in my lifetime. But then, after Roe vs Wade, I thought abortion would never be illegal again. So now, in 2012, it's been disheartening to see the right-wing religious conservative movement that supposedly wants to keep government out of our lives, while simultaneously promulgating compulsory transvaginal ultrasound probes, in the process of trying to re-criminalize reproduction rights in my lifetime.
     Things seem to be going backward. The Dinosaur Follies--better known as the Republican presidential primaries—were bizarre and surrealistic. Most despicable was the way they all pandered to their fanatical anti-choice constituents. My unofficial Campaign Pandering Award went to the Champiom of Anti-Choice, Mitt Romney. He wanted to destroy Planned Parenthood and to overturn Roe vs. Wade. 
     But, returning to my rape-in concept, feminist friends objected. I resisted at first, because it was such a well-intentioned joke. And then I reconsidered. Even in a joke, why should women be assaulted because men made the laws? Legislators' wives were the victims in that joke, but the legislators themselves were the oppressors, and their hypocrisy was really my target. But for me to stop doing that bit of comedy wasn't chickenshit censorship, it was empathetic editing.
                         	*   *   *
     	Now, in July 2012, more than four decades later, rape-joking triggered a widespread controversy when a woman who prefers to remain anonymous went to a comedy club, expecting to be entertained. She chose the Laugh Factory in Hollywood because Dane Cook was on the bill, but he was followed by Daniel Tosh, and she had never heard of him.
     In an email to her Tumblr blogger friend, she accused Tosh of saying that “rape jokes are always funny, how can a rape joke not be funny, rape jokes are hilarious.” She was so offended that she felt morally compelled to shout, “Actually, rape jokes are never funny!” Tosh paused and then seized the opportunity, responding, “Wouldn’t it be funny if that girl got raped by like five guys? Like right now? What if a bunch of guys just raped her?” The audience laughed raucously. After all, isn’t anyone who yells at a comedian practically asking to become an immediate target? But this woman was stunned and humiliated, and she left. In the lobby, she demanded to see the manager, who apologized profusely and gave her free tickets for another night--admitting, however, that she understood if this woman never wanted to return.
      In her email, she concluded that, “having to basically flee while Tosh was enthusing about how hilarious it would be if I was gang-raped in that small, claustrophobic room was pretty viscerally terrifying and threatening all the same, even if the actual scenario was unlikely to take place. The suggestion of it is violent enough and was meant to put me in my place.” She added, “Please re-blog and spread the word.” And indeed, it went viral.


      Coincidentally, on the same night that Tosh, in his signature sarcastic approach to reality, provoked the woman, Sarah Silverman was performing at Foxwords Casino, and she touched upon the same taboo subject: “We need more rape jokes. We really do. Needless to say, rape, the most heinous crime imaginable, seems it’s a comic’s dream, though. It’s because it seems when you do rape jokes, that the material is so dangerous and edgy, and the truth is, it’s like the safest area to talk about in comedy ’cause who’s gonna complain about a rape joke? Rape victims? They don’t even report rape. They’re just traditionally not complainers.”


     Ironically, in The Aristocrats, a documentary entirely about a classic joke of the same name, Silverman complained (facetiously) that she was once raped by show-biz legend Joe Franklin. Also, her rape tips for men include, ""Carry a rape whistle. If you find that you are about to rape someone, blow the whistle until someone comes to stop you."" However, another joke of hers goes like this: “I was raped by a doctor—which is so bittersweet for a Jewish girl.”


     In the magazine Bitch (“Feminist Response to Pop Culture”), an article titled “Laughing It Off: What Happens When Women Tell Rape Jokes?” by Katherine Leyton stated: “Some female comics tell jokes that clearly target rape culture, such as one classic skit by veteran comedian Wanda Sykes, ‘Even as little girls we’re taught we have something everybody wants—you gotta protect it, you gotta be careful, you gota cherish it. That’s a lot of fucking pressure!  I would like a break! You know what would make my life so much easier? Wouldn’t it be wonderful if our pussies were detachable?’ The joke goes on to detail situations where you could leave your ‘detachable pussy’ at home, mainly to avoid the chance of rape.”
                         *   *   *
     In the fall of 1981, I booked myself for a cross-country tour, from New York to Chicago, Minneapolis, San Francisco and Los Angeles.
     While I was in New York, a nun was raped. When I got to Chicago, the rapist was also there. He had given himself up to the police. On stage I explained the true reason why: “He heard that the Mafia, in a rush of Christian compassion, put a $25,000 contract out on his life.” That part was true. “So now I'm asking the Mafia to use their clout to end the war in El Salvador since four nuns were raped and killed there.” They must’ve heard my request. By the time I got to Los Angeles, the Herald-Examiner was reporting that the Mafia was “probably the largest source of arms for the rebels in El Salvador.”
     In the spring of 1982, there was a Radical Humor Festival at New York University.	That weekend, the festival sponsored an evening of radical comedy. The next day, my performance was analyzed by an unofficial women's caucus. Robin Tyler (“I am not a lesbian comic--I am a comic who is a lesbian”) served as the spokesperson for their conclusions. What had caused a stir was my reference to the use of turkey basters by single mothers-to-be who were attempting to impregnate themselves by artificial insemination. Tyler explained to me, “You have to understand, some women still have a hang-up about penetration.”
Well, I must have been suffering from Delayed Punchline Syndrome, because it wasn't until I was returning on a plane, contemplating the notion that freedom of absurdity transcends gender difference, that I finally did respond, in absentia: “Yeah, but you have to understand, some men still feel threatened by turkey basters.”
*   *   *
     The Onion posted a story about a college dorm that was nicknamed “The Rape Hall.” And an Ironic Times headline stated, “Quaaludes Ends Its Relationship With Bill Cosby.” Earlier in Amy Schumer’s stand-up career, she told this joke: “I used to date Hispanic guys, but now I prefer consensual.” She has since been accused of racist comedy. “I used to do a lot of short dumb joke like that,” she responded.” I played a dumb white girl onstage. I am evolving as an artist. I am taking responsibility and hope I haven’t hurt anyone. I apologize if I did.”
     Indeed, in an episode of Inside Amy Schumer on Comedy Central, a sketch--Football Town Nights parodying Friday Night Lights--featured a Texas town’s new high school football coach. He informs his teenage squad that he’s going to be doing things differently. There’s going to be a no-huddle offense. Two-a-day practices are mandatory. And there will be no raping. “But we play football!,” one player cries. The rest of the team chimes in: “But we play football!” “What if she thinks it’s rape, but I don’t?” “What about at-away games?” “What if my mom is the DA and won’t prosecute, can I rape?” The whole town bullies this coach for taking something away from the players that they obviously need.
     In another sketch, Schumer plays a flirtatious lawyer ironically defending Bill by bedazzling the judge as well as the jury.  On Late Night, Seth Myers rhetorically asks, ""Why did Bill Cosby cross the road?” He answers himself, “To avoid a reporter who was asking about sexual assault allegations.” 
     At the National Association of Television Program Executives conference, Jay Leno commented on the allegations against Bill Cosby: “I don't know why it's so hard to believe women. You to go Saudi Arabia and you need two women to testify against a man. Here you need twenty-five [now forty-five].” Leno also used one of Justin Bieber’s song hits for a punchline, pointing out that Bieber “wouldn't want to sing 'I Wanna Be Your ‘Boyfriend'’ to guys in prison.” 
     On The Daily Show, Jon Stewart aimed his arrow at presidential candidate Donald Trump, the great Greekish god of Narcissism. Stewart shouts, “There are probably some non-rapists caught up in that tide, whether they’re unable to rape for medical reasons, or whether they’re just all raped-out.” A clip shows Trump reading out loud from a report that “80% of Central American women and girls are raped crossing into the United Sates.” CNN’s Don Lemon tells Trump. “That’s about women being raped, it’s not about criminals coming across the border or entering the country.”
     Trump: ”Somebody’s doing the raping, Don.” 
      “Touche!,” said Stewart. “I believe we have our campaign slogan: Trump 2016--Somebody’s Doing the Raping.”
     Immediately after The Daily Show came The Nightly Show with Larry Wilmore. He plays the same clip just a slightly bit longer: Trump spouting, ”Somebody’s doing the raping, Don. I mean, you know, somebody’s doing the rapiing, You think the women are being raped. Well, who’s doing the raping?” Wilmore repeats: “Who’s doing the raping? Okay, who’s bringing the chips? Who’s bringing the beer? Wait, wait. Who’s doing the raping? Oh, okay, sorry about that. I didn’t know, I had to ask. I have to tell you, though, as far as campaign slogans go: Donald Trump 2016--Who’s Doing the Raping?”  Hey, it sounds familiar already. 
*   *   *
     Although Daniel Tosh is a consistently unapologetic performer for the sardonic material he exudes on his Comedy Central series--which features a running theme of rape jokes, even including one about his sister--for this occasion he decided to go the Twitter route: “All the out of context misquotes aside, I’d like to sincerely apologize.” He also tweeted, “The point I was making before I was heckled is there are awful things in the world but you can still make jokes about them.”
     According to Jamie Masada, owner of the Laugh Factory, Tosh asked the audience, “What you guys wanna talk about?” Someone called out “Rape,” and a woman in the audience started screaming, “No, rape is painful, don’t talk about it.” Then, says Masada, “Daniel came in, and he said, ‘Well, it sounds like she’s been raped by five guys’—something like that. I didn’t hear properly. It was a comment—it wasn’t a joke at the expense of this girl.” Masada claims that she sat through the rest of Tosh’s performance, which received a standing ovation, before she complained to the manager.
     Fellow comedians defended Tosh with their own tweets. Dane Cook: “If you journey through this life easily offended by other peoples words I think it’s best for everyone if you just kill yourself.” Doug Stanhope: “You’re hilarious. If you ever apologize to a heckler again I will rape you.” Louis C.K.: “Your show makes me laugh every time I watch it. And you have pretty eyes”--except that he wrote it after watching Tosh on TV, but before he learned about the Laugh Factory incident. Nevertheless, he was excoriated and accused of being a “rape apologist.”
      But C.K. himself is no stranger to sexual-assault jokes. Onstage, he has said that he’s against rape--“unless you have a reason, like you wanna fuck someone and they won’t let you, in which case what other option do you have?”


      Conversely, in an episode of his TV series, Louie, he reversed such roles. After leaving a bar with an especially aggressive woman, Laurie (played by Melissa Leo), that he had inadvertently met earlier, she performs fellatio on him in her pickup truck, then insists that he in turn perform cunnilingus on her. And he refuses. So, she attacks him physically with unabashed viciousness, mounts him, and he gives in to her demand. In other words, Laurie rapes Louie. No joke. To watch this scene was positively jaw-dropping. It served as a reminder of how often comedians--and their jaded audiences--find prison-rape jokes not only to be funny, but also, as in the case of pedophile Jerry Sandusky, an act of delayed justice resulting in laughter that morphs into applause. A N.Y. Post headline about pedophile Subway pitchman: “Enjoy a foot long in jail.” And “Don’t drop the soap” even made its way to the animated Family Guy. 


     Meanwhile, reacting to the Tosh tirade, Julie Burton, president of the Women’s Media Center, stated: “If free speech permits a comedian to suggest a woman in his audience should be gang-raped, then it certainly permits us to object, and to ask what message this sends to survivors or to perpetuators. Tosh’s comment was just one extreme example of pop culture’s dismissive treatment of sexualized violence, which desensitizes audiences to enormous human suffering. Internet outcry is encouraging, but popular media needs to push back too.”


     And the original blogger posted another message:


     “My friend and I wanted to thank everyone for there [sic] support and for getting this story out there. We just wanted everyone to know what Daniel Tosh had done and if you didn’t agree then to stop following him. My friend is surprised to have gotten any form of an apology and doesn’t wish to press any further charges against [him].” What? Press charges? Rape is a crime. Rape jokes aren’t. They are the risk of free speech. The blog concluded, “She does plan on returning to comedy shows in the future, but to see comedians that she’s seen before or to at least look up artists before going to their shows.”
     Wait till she finds out that Dane Cook suggested she kill herself.
     *   *   *
     Now, over forty years since I stopped presenting my concept about a rape-in of legislators’ wives, I sent the first draft of this piece around to several friends, and I was particularly touched by a response from Emma Cofod, production manager at my then-publisher, Soft Skull Press:
     “Thank you for sharing this! I truly appreciate your thoughts here. I read about this woman's complaint last week, and the whole event turned my stomach. What Tosh did was personally threatening, which is not OK. But even though I fall neatly into the feminist camp, I think your original joke is hilarious—within context, and coming from a comedian whose philosophy I identify with. Color me conflicted.”
     I think that kind of conflict is healthy. And then there was Louis C.K.’s appearance on The Daily Show. This is what he told Jon Stewart between interruptions:
     “If this [controversy about Tosh] is like a fight between comedians and bloggers--hyperbole and garbage comes out of those two places, just uneducated, unfettered--it’s also a fight between comedians and feminists, because they’re natural enemies, because, stereotypically speaking, feminists can’t take a joke, and on the other side, comedians can’t take criticism. Comedians are big pussies. So to one side you say, ‘If you don’t like a joke, stay out of the comedy clubs.’ To the other side you say, ‘If you don’t like criticism, stop Googling yourself every ten seconds, because nobody’s making you read it.’ It’s positive. To me, all dialogue is positive. I think you should listen.
     “If somebody has the opposite feeling from me, I wanna hear it so I can add to mine. I don’t wanna obliterate theirs with mine, that’s how I feel. Now, a lot of people don’t feel that way. For me, any joke about anything bad is great, that’s how I feel. Any joke about rape, a Holocaust, the Mets--aarrgghh, whatever--any joke about something bad is a positive thing. But now I’ve read some blogs during this whole [controversy] that made me enlightened at things I didn’t know. This woman said how rape is something that polices women’s lives, they have a narrow corridor, they can’t go out late, they can’t go to certain neighborhoods, they can’t dress a certain way, because they might--I never–-that’s part of me now that wasn’t before, and I can still enjoy the rape jokes.
     “But this is also about men and women, because a lot of people are trading blogs with each other, couples are fighting about Daniel Tosh and rape jokes--that’s what I’ve been reading in blogs--but they’re both making a classic gender mistake, because the women are saying, ‘Here’s how I feel about this,’ but they’re also saying, ‘My feelings should be everyone’s primary concern.’ Now the men are making this mistake, they’re saying, ‘Your feelings don’t matter, your feelings are wrong and your feelings are stupid.’ If you’ve ever lived with a woman, you can’t step in shit worse than that, than to tell a woman that her feelings don’t matter. So, to the men I say, ‘Listen to what the women are saying about this.’ To the women I say, “Now that we heard you, shut the fuck up for a minute, and let’s all get back together and kill the Jews.’ That’s all I have to say about it.”
     The audience laughed and applauded, as they did fifty years ago when Lenny Bruce ended a riff on prejudice: “Randy, it won’t matter any more even if you are colored and I’m Jewish, and even if Fritz is Japanese, and Wong is Greek, because then we’re all gonna stick together—and beat up the Polacks.”
     My notion of a rape-in of legislators’ wives in order to impregnate them was no more meant to be taken literally than Louis C.K.’s killing the Jews or Lenny’s beating up the Polacks. Rape-in was a misunderstood metaphor; a pro-choice parable that unfortunately has become timely again, but now my target has been clarified, though it's still those increasingly incredible sexist legislators.
     Take Missouri Senator Todd Akin—please. Referring to conception during a rape, when he said, “If it’s a legitimate rape, the female body has ways to try to shut that whole thing down,” he jumped the proverbial shark. And when Indiana Senate candidate Richard Mourdock said that if a woman is impregnated by a rapist, “it is something that God intended to happen,” he jumped the sperm whale.
     No professional comedian had the imagination to come up with such tragicomic satirical concepts as those. The funniest thing is that neither Akin nor Mourdock was trying to be funny. They were simply being their ignorant selves, a pair of religious fanatics who worship a micromanaging deity that made them legitimate assholes in the first place. The good news is that they both were defeated on Election Day. The Republican presidential campaign was crystallized by “Keep the government out of my Medicare,” and the Democratic presidential campaign was crystallized by “Keep the government out of my vagina.”
     While Mitt Romney believes that life begins at conception, Rick Santorum believes that life begins at foreplay. He has gone way beyond his frenzied position against women’s right to abortion. He’s also against birth control, even though that would prevent the need for an abortion. He claims that “contraception is not okay” and that it turns sex into “simply pleasure.” He has also vowed to “ban all pornography,” even though watching porn would prevent the need for contraception.
     And so it came to pass that Barack Obama was re-elected. His opponent, Romney, fell to his knees and pleaded, “Oh, dear Lord, you promised that I would win. Why hast thou forsaken me?” And the voice of God boomed out, “HEY, MITT, LISTEN--I WAS JUST FUCKIN’ WITH YA . . .”





"
TEXT-001-HOUSE_OVERSIGHT_010912.txt,"﻿FREE GROWTH AND OTHER SURPRISES
Draft
Gordon Getty
FOREWORD BY THE AUTHOR
How Come This Book?
A few months ago, Robert Trivers was kind enough to send me his new book. The
title is “Wild Life”. Perfect two ways. Bob is a world authority on wildlife, to wit
evolutionary biology. But his books and papers about that are already well known.
His new one is about his own wild life, with his ideas in the background.
I’ve started my own book three for four times over the past decade. Bob’s got me
started again. Try it. It’s Bob’s real voice. One of his papers, co-authored by Huey
Newton(!), is about deception and self-deception. I never saw much of either in Bob.
I never saw a guy less anxious to impress. Fine if you knew his achievements, and
fine if you didn’t. What he wanted to talk about was great new ideas by others. It
was from him that I first heard about the Hamilton-Zuk parasite theory, and Paul
Ewald’s complementary one about parasites stabilizing population density of hosts.
Both are beautiful examples of the obvious-in-hindsight.
I realized that my book could take a cue from his. My own life hasn’t been wild. It
has been interesting because the genius of my father gave me interesting places to
be and things to do. I could say something about that.
But the book would be mostly about my ideas in economics. Bob’s ideas are well
known to anyone in his field. Mine aren’t. I’m ten years older than Bob, without
much to show for it except in composition. (My last two operas have been getting
some traction, and my SACDs get pretty good radio time.) So I’ll run my economic
ideas up the flagpole, in my real voice, and see if they prove deception or selfdeception
or something worth the time.
Declaring My Biases
I’m a big free market fan. I would love it even if I agreed with socialists that there is
something inherently iniquitous about it. There are bad guys and conflicted motives
Forward By The Author 04/18/16 1
in markets and government both. What I love about it is the chance to prove ideas. I
love Wall Street innovations such as swaps and futures and ETFs and mortgagebacked
securities, even admitting their dangers. And who would have thought that
the San Francisco Bay area, a stronghold of political correctness at the voters’ booth,
would nonetheless innovate Siri and Alexa and driverless cars, in its free market
havens here and there, over the past five years? Remind me the last innovation by a
committee. Who would have thought we would make the world’s best car, the Tesla,
in this labor stronghold? It takes guys who prefer the impossible. It takes guys like
my father.
Yes, that was J. Paul Getty. I’ll declare a bias for him. His faults were just what we
read they were. I liked them fine. My times with him, with an exception I’ll note in
Chapter 1, are some of my favorite memories. I seem to be the opposite of pharaohs
who began their reigns by chiseling off their father’s names from the monuments
and substituting their own. That was something about a ticket to the afterlife. I put
my father’s name on things I build. The afterlife will come as it comes.
Since this book is about growth first, I should say how I feel about growth. Most
economists, which I’m anything but, treat it as a goal. I love innovation, which has
translated to growth, while worrying plenty about growth itself. What happens
when anyone can make a doomsday weapon on his desktop? Depressed people do
away with themselves every day. Some might take the rest of the world with them if
they could. Armageddonist religions wouldn’t be needed. Not even destructive
intentions need be. A doomsday weapon bought at the five and ten might go off by
accident.
Then why do I root for innovation when I’m scared stiff about its consequences?
Because alternatives are scarier still. Humans will innovate anyhow, while Big
Brother or the religious authorities aren’t looking, and I don’t like the prospects of
innovation driven underground. We’ll have to find some way to face the risks and
Forward By The Author 04/18/16 2
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 I study, I seem to find a good measure of nonsense taught along with
wisdom. This book is about what I find of both in economics. And a problem I 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 I’ll admit a bias for the surprises my title promises. I love upending what we
had all assumed. Fun! And all the more fun when I 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 th -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
This reveals my bias for economic history. It seems dry as a bone until you find
something terrific like those insights. It happens that I had written both theories,
and published one, decades before I found those great precedents. Should I have
been chagrined? Of course not. Forgotten or unnoticed precedents are at least as
much fun to point out as the surprises they showed ahead of me.
I will also reveal a bias for evolutionary biology. Its main axiom, the biological
imperative, becomes one of mine. The idea is that behaviors are selected for
successful reproduction. I will try to show that the classical school treated this as
axiomatic from Petty through Smith, Malthus, Ricardo and Mill. Malthus was only
the most obvious case. It lapsed from attention when a brilliant new insight called
marginalism preferred to do without explanations for tastes.
Above all comes my bias for the great thinkers in those fields. We saw that as to Bob
Trivers. Although I often cite them to disagree with them, I see all as giants from
whose shoulders I slip in trying to climb. I don’t kick sand on 97-pound weaklings.
Mill was a mensch who gives us all lessons in attribution and generosity, particularly
to schools he disputed, and who nonetheless didn’t mind being a minority of one in
his books or in parliament.
Petty was something beyond. Polymath, self-made tycoon, anatomist, music teacher,
father of national accounts, originator of present value theory and human capital
and next generation theory, and esteemed by both Adam Smith and Karl Marx for
other innovations I don’t mention. Such men are understood slowly and
incompletely.
Forward By The Author 04/18/16 4
CHAPTER 1: RECOLLECTIONS
I never finished a course in economics. I started one at the University of San
Francisco sixty years ago, and dropped it when I couldn’t see the foundations. But
the bug had bitten me. I knew that one day I would try on my own.
I always loved logic. My favorite philosophers at USF were the pre-Socratics who
liked nothing better than to confound common sense. A brilliantly vexing example
was Zeno the Eleatic and his argument that Achilles can never catch up to the
tortoise; Achilles must first reach the line where the tortoise was last, and the
tortoise has since moved on. Logic can play such tricks. But I sensed that economics
was the place to try its limits. Dropping the course didn’t mean giving up, and logic
would be the key.
Neither did I take a course in business administration or investment. My major was
English literature. As a grade schooler I had asked my father about this. Where and
what should I end up studying? He had read economics and petroleum geology at
Oxford, and I supposed he would advise something like that for me. I got a surprise.
Career-oriented majors were fine but not necessary. A grounding in the liberal arts
could be as much or more. The trick was to learn how to learn. That sounded right,
and anyhow right for me. So I chose USF, a twenty-minute walk from home until my
mother moved us to San Rafael, a half hour drive across the Golden Gate Bridge, and
followed my intuitions toward English lit and history and music and philosophy.
I graduated with a degree in English lit in 1956. This was the time of skittish peace
between the Korean and Vietnam wars, and the Reserve Forces Act meant I had to
report for six months active duty starting in the spring of 57. Meanwhile I worked
for my father. I and my brother Paul, later Sir Paul, started at the bottom pumping
gas and changing oil at separate gas stations not far from our home in San Rafael.
That left time for a few weeks at a bulk plant (oil warehouse and tank farm) in San
Francisco, still working at the bottom, before I reported. Paul had served in the
Chapter 1: Recollections 1/06/16 1
Korean war, and was now exempt. I was a shavetail second lieutenant, thanks to the
ROTC program at USF, in the quartermaster branch at Fort Lee, Virginia. My
eyesight was never good enough for the combat branches.
Ike, who was then president, had started in the quartermaster too. My military
career was not so glorious. Somehow I finished the six months at Fort Lee and seven
and half years of inactive duty following, obligating me to one weekend per month
at military posts near home, without being promoted even to first lieutenant. By
policy, I should have been promoted or busted to the ranks. I later learned that my
school chum Manuel Teles, who worked at Fort Presidio in San Francisco, had
somehow fixed the record. Thank God for old friends.
My weekends of saluting were postponed when Paul and I went back to work for my
father in 1958. My father then lived in the Ritz Hotel in Paris. He liked ordinary tworoom
suites. The sitting room was his office. His filing system was a steamer trunk.
Our job was to sit and listen as he met with executives or art people or old friends.
He would usually take us along to lunch and dinner, and wangle us along when he
had been invited out. He was the world’s most attentive father whenever we were
with him, at least, if focused elsewhere when we weren’t.
Paul went on to learn refining and marketing in Italy, after those few weeks in Paris,
while I went to the oilfields my father had just found and developed in the Neutral
Zone between Saudi Arabia and Kuwait. Paul soon learned Italian, became general
manager within two years, and ran things well. I learned only a little Arabic, but also
became manager in 1959, and soon blundered my way into two weeks’ house arrest.
I had got crossways with the local emir, Mohammed bin Nasr, not a bad guy, about
perks and privileges he and his staff expected Getty Oil to pay for.
The case against me was rigged. One of our junior staff drivers, a Kuwaiti I think,
had accidentally rammed and damaged a pipeline. He had fled the country to avoid
jail. Jails there were no fun. His supervisor, Jim Kinnell, was warned that he (Jim)
was accountable under Saudi law, and would be sent to jail instead. Jim came to me.
I realized what was brewing. Laws are flexible, and Jim would have got off with a
Chapter 1: Recollections 1/06/16 2
caution at most if I weren’t at odds with the governor. I was obviously next. But I
was not about to gamble that the threat to Jim was a bluff. I told him that if I were in
his shoes, I would go back to England. He did. That left me. But I was in my shoes.
The blunders had been mine, and I would face the music.
My two weeks of house arrest went peacefully. The plain cement-block house had
been built for my father at our port camp of Mina Saud when he lived in the Neutral
Zone in 1953. The Emir’s identical house was a few steps away. My father’s favorite
maple sugar was still in the fridge. I read the few Shakespeare plays I hadn’t read in
college, and read or reread the complete poems and plays of John Keats.
The house arrest was probably as much dressing-down as I deserved. Paul, or
anyone else, would have handled the perks and privileges more adroitly. But our
host country, Saudi Arabia, may have picked up on something too. Getty Oil was not
one of the concession companies in the Middle East named in the baksheesh
(bribery) scandals that made the front pages over the few years remaining before
most concessions were negotiated away and host countries ran things themselves.
Back to my father in Scotland, where he was visiting his old friends the Maxwells
near Inverness, and then to the two-room suite at the Ritz in London about like the
one in Paris. He drove the six hundred miles between, in a vintage Cadillac, taking
two days and stopping to visit historic sites and museums. He needed no guidebook.
I sat in on meetings and events everywhere with him in London as in Paris. I
assumed that the Saudis had cleared the house arrest with him, and I would have
agreed as he did. He too was in different shoes. He was right. He had solved a real
problem with minimum damage. Lesson learned, and no hard feelings either way.
It was clear to both of us that I was not cut out to be a line officer, meaning one who
runs things from day to day. My mind goes off on tangents instead of tracking
arguments in real time. It works for me, but not as an administrator. We decided to
try me as a consultant.
Chapter 1: Recollections 1/06/16 3
That began at my father’s Spartan Aircraft Company in Tulsa, Oklahoma. He hadn’t
meant to buy it. He had bought control of Skelly Oil, centered in Tulsa, and Spartan
turned out to be one of its holdings. Then came Pearl Harbor. My father was 48
years old, and had been a yachtsman. He took a navigation course at USC along with
kids half his age, led the class, and volunteered for sea duty. His old friend James
Forrestal, Secretary of the Navy, steered him to Spartan instead. Spartan could make
training planes and could train pilots. My father accepted. He paid himself a salary of
one dollar a year.
He had decisions to make when MacArthur and Matzushita signed the peace treaty.
The training planes were not meant to leave the ground. Spartan lacked the
capacity to make the real thing up to competition. The demand for training planes
pretty much ended with the war. My father could sell out or find another use. He
decided to make house trailers. It worked. I had lived in a Spartan trailer in the
Neutral Zone, like the rest of the senior staff, when I stayed at our Wafra oil field
rather than the house at Mina Saud. We and the market had liked them fine.
Herschel Shelton had been one of my father’s right-hand men during the conversion
to trailers. He said that the place to look for him was never in his office. You would
find him in overalls under a trailer on the factory floor, with a welding iron or
riveting gun. He liked to be able to do any job his workers did. How else would he
know if they were doing it right?
I stayed in my father’s house at Spartan, as at Mina Saud. It stood at the opposite end
of the runway from the offices and trailer plant. I drove another seasoned Cadillac
that my father had left in case he came back. Max Balfour, who ran Spartan, called it
a clunker. It clunked me around the countryside on weekends, or to Jamil’s
restaurant or Cap Balfour’s house for dinner, or downtown to the movies or
symphony or opera house. Cap (Captain) Balfour had flown in World War I, and
showed crippled hands from when his plane caught fire. He was cranky, urbane and
razor-sharp. His problem was that Spartan couldn’t seem to come out in the black.
He worshipped my father, and figured he had let him down. He seems to have
Chapter 1: Recollections 1/06/16 4
brought his moods with him after work, which my father generally didn’t. That cost
him his sunny young wife. I somehow got a pass. I could understand him, and I was
my father’s son.
My advice in the end was that my father should sell. Meanwhile I was taking an
interest in economics again. Business was about rate of return. Spartan’s was
negative. What was the benchmark? I did a little study.
It is easy to see that return tends to even out from one company or industry to the
next. We pour investment into high-return prospects, and unintentionally drive that
high return down toward the norm by expanding the capital denominator. I didn’t
know that Robert Turgot had written the same in 1766. But what struck me was the
impression that return, net of inflation, seemed to revert to a norm over time. Why
were interest rates, averaged over business cycles, about the same then as in
Dante’s time or Julius Ceasar’s? Why should human impatience be a steady norm?
That puzzle nagged me for about a quarter century until I found the answer.
Another decade or two would pass before I learned that Sir William Petty had found
it in the seventeenth century.
I went home in 1961 to study harmony and counterpoint at the San Francisco
Conservatory of Music. I had found time to compose a few things at the house at
Mina Saud with a piano I had bought in Kuwait. They included an a cappella
(unaccompanied) choral setting of Tennyson’s “All Along the Valley”, and something
to which I later fit Emily Dickenson’s poem “Beauty Crowds Me” in my song cycle
“The White Election”. The composer Charles Haubiel published “All Along the Valley”
in his Composers’ Press in Los Angeles in 1959. The one change he suggested, an
unexpected D flat major resolution, is the best touch in the piece. I had noticed
copies in music shops in Tulsa. So it seemed about time to develop that interest too,
and the conservatory back home seemed the logical place.
Chapter 1: Recollections 1/06/16 5
I studied there from fall 1961 through spring 1962. I was probably the only
composition student already published. My teacher in both the fall and spring
classes was Sol Joseph. He was a legend there. Most of what he taught confirmed my
instincts. Maybe five percent was old rules I didn’t think much of, and five percent
good ideas that hadn’t occurred to me. All was useful anyhow as a guide to what
leading authorities have thought and taught. That was the point. We were to accept
what we liked, and anyhow learn the lingo.
Those two courses covered traditions of the eighteenth and nineteenth centuries.
Most composers in the 1960s, and probably some or most of my classmates, thought
of that as a stepping stone toward study of the serialism and other atonalism then in
vogue. I skipped those classes. I realized that I was a nineteenth-century composer
at heart. Now the world seems to have spun back to where I was all along. For most
composers now, atonalism is one of the colors on our palettes. Even I use some. So
did Bach. We reach for that color when we want to express disorientation or angst. I
found I could get more said most of the time with major-minor scales.
Five short piano pieces I wrote then were published by Belwin Mills in 1964. As my
father’s son, you might imagine that I was asked to pay the costs. Nope. Neither had I
paid a cent to Composers’ Press. Vanity press exists, but that was not the business
model of those two firms. I got standard royalties from sales, not amounting to much,
and they got the rest.
Six published pieces by age 31 would not have impressed Mozart or Schubert. By
lesser standards, it was a pretty good start. There are distinguished composers who
have never found a publisher. Tomorrow the world! I would write operas and
symphonies! What happened instead was sixteen years of writer’s block, or eighteen
since finishing the pieces in 1962. I suppose I was trying to say “Shazam!” and turn
into something I wasn’t. The ice would break in 1980, when I realized that Billy
Batson would have to do. But that gets me ahead of my story.
I married Ann in 1964, making it a banner year on that count even more than the
publication, and went back to work for my father. That took us to New York in 1965.
Chapter 1: Recollections 1/06/16 6
Tidewater Oil Company, which would merge into its parent Getty Oil Company a few
years later, had red ink problems in its Eastern Division. My job was to see why.
Eastern Division was run by “Jim” Jiminez, an upbeat guy I liked. I don’t think he
took the red-ink problems home with him as Cap Balfour had. He reported to my
half-brother George at corporate headquarters in Los Angeles, and George reported
to my father in London. George had earned his job as president by outstanding
performance at every level on the way up, which is more than you could say for me
in the Neutral Zone. But George was touchy. He had a chip on his shoulder. I think
my father liked to ride him, and he sometimes felt unappreciated. You have to shrug
that off. George was doing fine. The problem in Eastern Division was not in him, and
it was not in Jim Jiminez. Then what?
I looked at the books. The red ink had nothing to do with management. Eastern
Division did refining and marketing. Its new refinery in Delaware had been
optimized to process heavy Wafra crude oil, which then was over a dollar cheaper
per barrel on the market than the lighter and easier-to-refine crude we produced in
Texas and the Central Basin. Tidewater’s Western Division refinery at Martinez, by
contrast, had all the cheap oil it needed in our own San Joaquin field. The Martinez
refinery was old, and more expensive to operate. But the net advantage still went to
Western Division by about a dollar per barrel. Meanwhile gasoline sold for about a
dollar less per barrel, although only two or three cents less per gallon, in the
refinery-loaded east than in California.
Management can’t do much about import quotas and market conditions. I reported
to my father that Eastern Division was at least as well run as Western Division,
where the ink was black thanks to cheaper crude and pricier gasoline.
Then could we cut costs or boost receipts in other ways? I proposed that we close
our old and inefficient Boston Harbor terminal, where barges unloaded gasoline into
our tank farms to be trucked to stations, and supply Boston from our new terminal
at Providence two hours’ drive away. If that worked, other distribution
consolidations seemed possible. I later proposed much the same thing for our
Chapter 1: Recollections 1/06/16 7
operations in Japan, where the new terminal at Kawasaki could theoretically obviate
the older and clumsier one in Tokyo Harbor. I realized that plant-closing might be
unthinkable in Japan, but thought that something good might come of the idea.
Sometime a little later came my lawsuit against my father. It isn’t my happiest
memory. There had been a stock dividend years before, when I was still in school.
We had treated it a certain way on the books. I read the law as saying it should have
been treated another way. The law was probably on my side, and common sense on
my father’s. Judge Peery wisely found a way to make common sense win in the end.
Meanwhile I had accused my father of nothing worse than oversight. My visits to
Sutton Place, now with Ann and the boys, went the same as before. The lawsuit
seldom came up and was discussed in easy terms when it did. I suggested to him, for
example, that he might want to settle with my stepmother Teddy in case there could
be claims by the estate of my late half-brother Timmy. He did. Somehow we got
through the lawsuit without bad blood. One would not have guessed so much was at
stake. The stock dividend had been a huge one. What I learned from my father, then
most of all, was perspective. He believed in an even keel. Zeno the Stoic, not the
Eleatic, would have met his match.
The lawsuit lasted from 1966 through 1971. In hindsight, thank gosh he won. If I
had, tax consequences would have been ugly all around. Again I had learned a lesson,
and again there were no hard feelings either way.
I continued to do consulting jobs for him throughout the lawsuit and after. I charged
expenses, but no fee. And I didn’t pad expenses. If I had, you can believe he would
have seen it. I stayed in a single room in the best hotels, ate three squares a day, and
paid for anything else myself. I was trying to make the point that I didn’t want to be
paid. Neither had my father at Spartan during the war. The idea was for me to be of
use. I was paid like everyone else when working for my father full-time, but never
on consulting jobs.
Those now came once or twice a year, and lasted for a week or two each. Composing
was still on the back burner. I was keen on physics, economics, human origins and
Chapter 1: Recollections 1/06/16 8
city planning. It became clear that all but the third needed better math skills than I
had. So I bought the Barnes and Noble textbook on College Mathematics, got through
it in a week of hard work, and then began on the Johnson and Kiokemeister textbook
on calculus along with Halliday and Resnick on physics. Together they took me
nearly a year. At the end, I was allowed to sit in on the freshman physics finals at Cal
Berkeley, where the same two textbooks were taught.
It was the finals for physics majors, and meant to be tough. Cal took physics
seriously. Not every freshman was destined to go farther. Some should be steered
towards engineering, which pays better anyhow. There were 10 questions. Three
hours were allowed. Each of us had a calculator and nothing else. Not even a table of
integrals. My God. I had to remember them or rederive them. There are some that
had taken even Newton and Leibnitz months to solve. I don’t remember any of the
questions. There were 200 to 300 kids in the room. Maybe 20 or 30 orientals, about
three women, no blacks. Not one finished early. And some figure to be Nobelists by
now. We’re talking about Cal. I had answered seven questions when the three hours
were up. Was that good enough? I got a call in a few days. I passed, and beat the
class average.
My old friend Matt Kelly warned me about this time that George was in trouble. Matt
had known George’s new wife Jackie, and had been invited to dinner there. Matt’s
impression was of out-of-control mood changes. He said that George at one point
had drawn him aside, shown a pistol and warned him about paying too much
attention to Jackie. The next minute they were back at the table in jolly spirits. I
learned later what was wrong. George thought he had a weight problem, although I
never noticed one. Doctors prescribed amphetamines in those days to control
appetite. They revved him up and made it hard to sleep at night. So the same doctors
prescribed barbiturates at night to get him to sleep. Uppers and downers are
dangerous enough. Add a drink or two and you’ve got trouble.
Of course I should have told my father. But I didn’t want to be the one. I liked to
boost my brothers. Many must have seen the symptoms Matt saw. Let them break
Chapter 1: Recollections 1/06/16 9
the news. But the others must have felt as I did. We waited too long. I got a phone
call in 1973. George had died at Mount Sinai Hospital. There was an empty bottle of
sleeping pills.
My father’s death came in 1976. Ann and I had got word it was coming a few weeks
before. We were there. So was Norris Bramblett, an accountant who had worked for
my father since I was in school. My father trusted him. So did I. He had only a fourth
grade education, but a PHD’s worth of character and sense. My father, Zeno the Stoic
when things got tough, cracked jokes to the end. Norris alone could understand him
by then. He translated patiently. My father was giving me one more lesson. He
lapsed into a coma. Ann and I were called down from our bedroom when he died.
That left me and Lansing Hays co-trustees of the trust controlling his companies.
Lansing ran the law firm that handled nearly all my father’s business and little else.
It was a big job. Lansing was smart, abrasive, and dead honest. He didn’t mind
hurting people’s feelings. I was not immune. It didn’t matter. It wouldn’t have
mattered to my father. What mattered was that Lansing knew what trust meant, and
put the Trust first. That’s what I cared about.
Lansing was already on the Getty Oil board. I was invited to join too. We met four
times a year, most often in Los Angeles. Harold Berg, an oil engineer from Colorado,
had become CEO (chief executive officer) and chairman after George died. Sid
Petersen, an accountant, was COO (chief operating officer). Harold was a warmer
and more approachable personality. That’s what you’d expect in an oilfield guy. Sid
was reserved and analytical. That’s what you might expect from an accountant,
although Norris Bramblett fit anything but the stereotype. Harold and Sid were both
clearly well chosen. Neither then nor later did I doubt that Getty was run at least as
well as its big oil rivals.
The board too were top people. But trouble was brewing. The trust, meaning
Lansing and I, owned about 43% of the shares. The Getty Museum, also chaired by
Harold, owned another 11%. Boards and managers prefer scattered ownership, so
that they can operate more freely. Second-best would be concentration in docile
Chapter 1: Recollections 1/06/16 10
hands happy to follow the board’s guidance. But my father had made it clear to
Lansing and me that we were to trust our judgment. We should be ready “to vote the
management in and out.” Since stockholders elect boards and boards hire managers,
that meant to vote the board in and out.
No wonder they were concerned. Lansing and I were both boat-rockers. Wouldn’t it
be safer if there were a corporate co-trustee? These are usually safety-minded banks,
and many banks did business with Getty Oil.
Concerns rose when Lansing died in 1972. That left me as the sole trustee. I was less
obstreperous than Lansing, but also less predictable. Hostile takeovers were
common then, where bids are made directly to shareholders rather than cleared
through the board. Getty was rich in oil reserves per dollar of share price. It could be
a target. Board members tend to feel that they know stockholders’ interests best,
and that the angels are on the side of “friendly” or board-approved takeovers if any
at all. Stockholders don’t necessarily feel that way.
Temperatures rose when I pushed serious study of the possibility of taking Getty
private. The idea was to give up our corporate structure to escape the corporate
double tax. Management and its investment banker, Goldman Sachs, advised against.
I now think they were right, although my idea had good precedents. I pressed on,
unwisely, by trying to convince the Museum to back me. They had better sense.
It was time to heal the breach. Marty Lipton of Wachtell, Lipton, a top mergers and
acquisitions law firm, represented the Museum. He proposed a moratorium (the
“tripartite agreement”) where the Trust, Museum and company would hold the
status quo for one year. Harold Berg had retired as chairman of Getty Oil, and Sid
was now chairman and CEO. His COO was Bob Miller, a keen petroleum engineer.
Harold Berg still chaired the Museum, although Harold Williams was its CEO and
main voice. We all signed. But Getty Oil had its fingers crossed. A few days later, the
company petitioned the court to appoint a co-trustee. It proposed Bank of America.
B of A’s chairman, Chauncey Medberry, sat on the Getty Oil board. Paul and George’s
daughters joined the plaintiffs.
Chapter 1: Recollections 1/06/16 11
The Museum was more outraged than I was. Marty felt that he had been used. He
and Harold Williams, a business-savvy guy who had chaired the SEC under Jimmy
Carter, realized that if I could be hog-tied, the Museum with its 11% was the next
domino.
This was in November of 1983. Within a few weeks, the Museum and I signed a
“consent of shareholders” taking over the company. The required public disclosure
of this, on top of the tripartite agreement and co-trustee lawsuit before, was blood in
the water.
Pennzoil launched a hostile takeover bid in December. My concern was that the
trust should not be locked in a minority position. I met with Pennzoil in New York.
We resolved that to my satisfaction. The Getty Oil board met, also in New York, on
January fourth. The mood was not sunny. Harold Stuart, one of the brightest and
finest board members, assumed that I had invited the Pennzoil bid. Chauncey
Medberry thought I should be sued. But Sid and the board acted responsibly overall.
We countered with a higher price, Pennzoil accepted, and we went home thinking
we had a deal.
Texaco offered a higher bid two days later. Was Getty Oil already bound to Pennzoil?
Its lawyers and mine said it wasn’t until the final agreement was signed. I had my
doubts. But I liked Texaco’s offer better, and my duty was clear. The Trust and
Museum would be paid cash for their shares, rather than locked in. I had insisted on
language in the Pennzoil agreement that bound me only as “consistent with my
fiduciary duty.” My duty, in the light of legal advice, was to accept Texaco’s offer. I
did, and voted the same way as a member of Getty’s and the Museum’s board. Those
were fiduciary duties too.
Pennzoil sued Texaco, and eventually won punitive damages of some eleven billion
dollars. The Museum and Trust had cashed out. We were not parties. The Pennzoil
and Texaco filings both spoke well of me. But there was still the lawsuit seeking a
corporate co-trustee. That would have been very dangerous before the sale to
Texaco cashed us out. A corporate co-trustee might well have assented to “corporate
Chapter 1: Recollections 1/06/16 12
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. I
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 cotrustees
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 I 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 I and the boys were in Paris
then. We wandered into Smith’s English language bookstore. I 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 I 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
I had no piano in our hotel room in Paris, but set a few of the poems in my head to
write down later. More followed. One of her poems I didn’t set begins “Mine by the
right of the white election…” Election meant choice. Her white smock hangs today by
her bed in Amherst where she was born and died. White is the color of weddings
and burials. Her choice, I think, was a death marriage to the reverend Charles
Wadsworth of the Arch Street Church in Philadelphia. He was happily married. She
met him about three times in her life. I would tell her story in 31 of her poems, one
in two different settings, in my cycle “The White Election.”
It was completed in 1981, and broadcast on National Public Radio two years later. It
seems to have made a good impression. Slava Rostropovich had kind words, and
invited me to write something for cello and orchestra that he could schedule on his
upcoming tour in Russia. Placido Domingo invited me to write a song for him.
Renata Scotto wanted me to choose five or so of the White Election songs that she
could include in her concerts. All were big opportunities. Somehow none happened.
Other stuff was coming out the pipeline.
That included my opera “Plump Jack.” Here I would tell the rise and fall of Falstaff in
Shakespeare’s Henry the Fourth and Fifth. This was riskier. Now the
accompaniment would be orchestra, not piano, and I had no background in
orchestration. Composing and orchestrating are not the same. Composing is like
writing a play, and orchestration is like casting the play. There are composers that
don’t orchestrate, and orchestrators who don’t compose. Most of us do both. I
always did my own orchestration because no one else would know what I wanted. I
gradually learned from my mistakes. Now I can probably hold my own in
orchestration, although many do that better.
Plump Jack was completed scene by scene over some twenty years. I would think it
was finished, and then decide it wasn’t. My next two operas, each running about an
hour, would be composed much faster. I set “Usher House” to my earlier libretto
based on Poe’s story in about six weeks in 2008 and 2009. “The Canterville Ghost”,
on Wilde’s short story, took me about two weeks each, with two months between,
Chapter 1: Recollections 1/06/16 14
for libretto, composition and orchestration. The last two operas have been
premiered at major opera houses. Usher House ran again at San Francisco Opera.
Upcoming performance of the “scare pair”, meaning Usher and Canterville as a
double bill, have been announced in other cities. Plump Jack is still waiting its turn.
My interest in human origins led me to the Leakey Foundation. I had read about
Louis Leakey in the papers, and had met him a few times in Las Angeles and San
Francisco. Brilliant, courtly, fierce. He let you know what was wrong. I became a
fellow in 1973, a trustee the next year and chairman the next.
Clark Howell, who taught anthropology at Berkeley, chaired our science committee.
His co-chair was Dave Hamburg, a Stanford psychology professor who specialized in
great ape studies or primatology. Most leading scientists in either field were
members or regular advisors. They recommended grants, and we trustees funded
them. We took a venture capital role, usually making grants of a few thousand
dollars to promising new prospects rather than bigger amounts to steady-state
projects already proved. Those proved ones included Jane Goodall’s chimp studies at
Gombe or Richard Leakey’s digs at Lake Turkana. National Geographic, or the
Wenner Gren or World Wildlife or National Science Foundations tended to fund the
known winners. We’re a lot bigger now. I am one of the few living links to those
great people and times. We’ve evolved with the science. But we stick to the venture
capital role.
That always left time to organize lectures and symposia. A few of us including Nancy
Pelosi, long before she tried politics, put together an all-star two-day symposium at
the Palace of Fine Arts in the San Francisco Marina district in 1973. Tickets sold out,
and hundreds watched on screens set up in the lobby. Julian Huxley regretted, but
sent his good wishes on tape. The octogenarian Raymond Dart recounted his
discovery of australopithecus africanus at Taung cave near Johannesburg in 1924.
Louis Leakey had died the year before, but his equally legendary widow Mary
updated us on the digs at Olduvai. Dick Hay filled us in on the geology there. Jane
Goodall gave the news from Gombe. Dave Hamburg reported on the new
Chapter 1: Recollections 1/06/16 15
chimpanzee compound near the linear reaction at Stanford. Clark Howell briefed us
on his work at Torralba and Ambrona in Spain, where our ancestors half our size
had hunted elephants twice the size of modern ones. (Elephants go back at least as
far as mammoths and mastodons.) Desmond Clark covered African archaeology in
general and his discoveries at Kalambo Falls in particular. Sherry Washburn showed
the way in which our DNA is 98% the same as a chimp’s. All were my close friends.
It was at a symposium in 1974, in Washington I believe, that I first heard and met Irv
DeVore. His talk was on evolutionary biology and Hamilton’s rule. Both were new to
me. Irv was a champion speaker. Students packed his anthropology classes at
Harvard. He became a Leakey stalwart and a particularly close friend.
I liked his topic. Genes code for traits, and traits more adaptive to niche pressures
are likelier to carry the genes that encode them into the next generation. The
likeliness is “fitness”. A beauty of this is that you can predict traits from the
environment (niche), and the environment from traits. That promised the kind of
logical challenge that I loved.
Survival of the fittest was not news to us. What was news was that bright scientists
like Irv were specializing in that logic, and making testable predictions for creatures
generally, humans included, rather than sticking to the groups they studied most.
That meant people I could talk to.
Hamilton’s rule was put up as the prime example. It starts from the principle that
the end game in biology is investment in the next generation. Hamilton had
reasoned in 1965 that genes coding for most efficient investment in closest kin, who
were likeliest to carry copies of those genes, ought to leave most copies in the next
generation. We would invest in them when consanguinity was greater than
cost/benefit ratio measured in fitness given up and fitness gained at the other end.
I didn’t like this. Something was missing. The logic was seductive. But Achilles does
overtake the tortoise. Traits compete, like those racers, for niche space. The winner
is the fittest at meeting needs of the niche. Hamilton’s rule seemed to leave that out.
Chapter 1: Recollections 1/06/16 16
It got Darwinism backward. Darwin’s idea was that the best-adapted leave most
progeny, not that leaving most progeny or other close kin somehow bootstraps itself
into adaptiveness.
The math of Hamilton’s rule didn’t work either. In diploids like us, where each
parent carries two sets of chromosomes, closest relatedness without inbreeding is
½. That meant that fitness would have to double or more with each generation. The
reason is that fitness not expected to be transmitted to successors would be a
contradiction in terms. If it cannot be transmitted (invested) at less than a 2:1
efficiency ratio (benefit/cost ratio), then it must be expected to double or more with
each reinvestment. But aardvarks and flatfish aren’t 1024 times fitter than their
ancestors of ten generations ago. They aren’t even a smidgen fitter, by any measure
of fitness known to me, unless the population has grown. Population growth in
nature usually fluctuates around zero.
But his rule was right in important ways. Nepotism is common in nature. The Trust
passed my father’s wealth to direct descendants. Most wills do, or favor nephews
and nieces as a secondary choice. Chimp mothers maneuver to push their offspring
up the social ladder. Worker ants and bees, who don’t breed, push the chances of
their younger half-sisters. Hamilton’s rule was clearly a good rule of thumb, even
though the math needed tuning. Why should it usually work? I couldn’t know then
that Hamilton himself would find the biggest missing piece of the puzzle in 1982.
Economics was always somewhere on my screen. It was the biggest challenge
because I had to reinvent it from scratch. I had dropped the course at USF because I
couldn’t find the foundations. But we don’t build a foundation without knowing
what we want to top. I had to reinvent everything at once. Does that mean I thought
I was best qualified for such a task? No. Plenty of people are better at logic than I am.
Rather I seemed to be the only volunteer.
Explicit economic axioms are seen as a nineteenth century thing. There are implicit
ones to a degree. Macroeconomics is said to rest on microeconomics, and
microeconomics on the logic of supply and demand. Good so far. But I felt the need
Chapter 1: Recollections 1/06/16 17
of a logical context for those. Too darned much was being taken for granted. What
do we really want from economics? As we gradually figure that out, we can figure
out the most efficient vocabulary for description and prediction. That’s was what
Newton did. I didn’t like the lazy assumption that those problems had already been
solved.
Newton lucked out in that old words like mass, force and energy would mostly do if
he gave them exact definitions within their usual ranges of meanings. Brand new
terms would have made tougher reading, and his Principia Mathematica was tough
enough in 1687. I had the same luck in the end. But I didn’t know that until I had
collected textbooks and economic dictionaries, along with most books on economic
history I could find, and meanwhile worked out what I thought the right vocabulary
ought to be. We pretty well have to solve every section of the jigsaw puzzle at the
same time. I’m my father’s son, by the way, and balked at the three-figures prices of
some of those textbooks, even though I might fork up as much for a bottle of wine.
My ideas on growth theory and capital theory (explaining rates of interest and
return) will get plenty of coverage later. It happens I have also taken a lifelong
interest in banks and money theory. This book isn’t about that directly. But banks
and money are part of the story of growth and interest, and anyhow are worth
attention in themselves.
Money has been defined elegantly in terms of what we want from it. We want a
measure of value and a medium of exchange. The qualities to give those things are
“moneyness”. Money should be “transportable”, for one, in that we don’t really want
to lug bags of wampum around. It should be stable in value, so that we can contract
over the future with least uncertainty. It should have the same value in different
places as well as at different times, to minimize the nuisance of conversion. There
should be enough of it that shortage doesn’t drive us to the clumsiness of barter. It
should be “divisible” into tiny units, as hundred-dollar bills into tens and ones and
pennies, for exact payment with nothing owed back. It should be fungible in that one
Chapter 1: Recollections 1/06/16 18
unit, say dollar, is worth exactly the same as another. Most essential of all, money
should be something actually and reliably valued.
What meets all these criteria? Gold has been a contender since ancient times. But
how reliable is its value? Spain and Portugal stockpiled gold and silver from the new
world for two centuries, and bought nothing but inflation for their trouble. Gold is
good for filling teeth, and for displaying status so long as it is rare. Then what is
better?
Two brilliant and dangerous adventurers, the Scotsman John Law and the Irishman
Richard Cantillon, proposed land. France in 1720 had no new world mines, and
needed money. It had plenty of land in Mississippi. Law and Cantillon put two and
two together. I think they sincerely believed their advice to The Duke D’Orleans, the
regent after the death of Louis XIV, that land could be the most reliable basis of
value then known. More than that, I think they were probably right. But it wasn’t
reliable enough. Early investors in paper rights to the land had made a mint as
others crowded in. Market euphoria led to more paper rights than underlying value.
You’ve heard that one before. Law and Cantillon saw the crash coming. It would be
called the “Mississippi bubble”. Cantillon sold out just in time. Law preferred to face
the music, as I would in the Neutral Zone a quarter millennium later. Land wasn’t
the answer.
I can’t call Law and Cantillon good guys like the emir. Both seem to have committed
murder for money, Law long before and Cantillon long after, in scandals in London
having nothing to do with the bubble. But they had good days. Cantillon’s book,
which I know only from descriptions by economic historians, seems to be a
masterpiece of the obvious-in-hindsight. Law went down with the ship, like a
mensch, and seems to have kept the trust and friendship of many backers he had
bankrupted. I mention the plusses of these two men to remind us that the truth is
seldom black and white, and to mitigate the folly of the French in trusting them.
Money today, in the United States and elsewhere, is not backed by any commodity. It
is “government fiat money” backed by the taxing power of government. That may be
Chapter 1: Recollections 1/06/16 19
the best solution tried so far. The value behind the taxing power is the total capital
of the nation, meaning human as well as physical capital. And the dollar has proved
pretty stable since Paul Volker’s tough reforms in the early 1980s. That means that
government fiat money in this county is working about as well as anything we have
known.
But there are problems. Government tools for stabilizing government fiat money,
which has no value in itself, are limited to control of its supply. The tools are
monetary and financial policy. Monetary policy is mostly “open market operations”
where government sells bonds to soak up excess money, and buys them back again
to put money back in the system. You can also raise or lower Central Bank interest
rates to get the same effects. Fiscal policy trims money supply by raising taxes and
cutting government expense, and pumps money back into people’s hands by
lowering taxes and raising government expense. Monetary policy is the tool of
choice because it has acted must faster. But either policy, or any mix, is a tightrope
walk. Too much money courts inflation by motivating people to spend rather than
save. Too little courts recession by motivating the opposite. That’s why
macroeconomics is said to rest on microeconomics. Are we wise to push our luck on
that tightrope forever?
Another problem is that our current money system may depend too much on banks.
Banks buy and sell back the government bonds, for example, and create the money
they lend by writing it into the borrower’s checking account and booking the
promissory note as value received in return. The problem is that banks are failureprone.
I mean plain commercial banks which do nothing but accept deposits and
make loans, not the still more dangerous commercial/investment hybrids which
rose and fell after repeal of the Glass-Steagle Act.
The danger is leverage. Depositors must be attracted at some cost, say checking
services. Borrowers must be attracted at a rate covering those costs to give profit in
the first place. Then equity investors must be attracted at an equity rate, generally
higher because equity imposes risk. These rates and costs are market givens rather
Chapter 1: Recollections 1/06/16 20
than what the bank decides. Then how can profit from lending rates, watered down
by costs of attracting depositors, translate into higher equity rates?
Easily, but dangerously. That’s where the leverage comes in. If the amount borrowed
is much larger than the amount invested as equity, absolute profit from borrowing
might be large compared to the amount invested. If hens lay only one egg per day,
but I own three hens, then I can eat three eggs a day.
More money lent out, compared to equity invested, presupposes more deposits to
lend. The leverage needed, or deposits/equity ratio in the bank’s case, works out to
equal the market equity return for investments of equal risk, divided by the market
borrowing rate for loans of such term and risk, net of expense percent including
costs of attracting depositors. This has tended to pencil out at about ten to one.
Firms in general are considered risky when leverage (debt/equity in that case)
reaches one to one. Four to six is more typical. Not ten to one. Banks invest in loans,
which are safer. But not ten times safer. Few people today would risk their money in
bank deposits without federal deposit insurance. My own reading of history finds
that deposit-and-lend banks have failed systemically, or needed bailouts, about once
per generation since they were innovated in Marco Polo’s time. They failed because
borrowers default in high winds, and defaults are magnified tenfold in effects on
stockholders’ investment. We rebuilt them, and the tenfold leverage, because we
blamed the high winds rather than the rickety structure. The Practical Pig knew
better.
It began occurring to me in the mid 90s that mutual funds might replace bank
deposits, and deal with the tightrope problem too. Too much money burns holes in
pockets today because money earns nothing while we hold it. Mutual funds pay
returns, and are owned for their own sake. If their shares were somehow money,
people would feel no impatience to spend it, and no supply would be too much. I
gradually figured out how the obvious problems in fungibility and divisibility and
other moneyness qualities could be addressed.
Chapter 1: Recollections 1/06/16 21
Nobelist Franco Modigliani heard of this, and invited me to MIT for a presentation.
He talked like Gepetto in Disney’s “Pinocchio”. There were a few other top brains,
including Ruddiger Dornbusch and2Julio Rotemburg, in the small classroom where I
spoke. Sometimes Modigliani interrupted. “Getty, you don’ta consider this.” “You
forgeta that.” I guess I thought I wasn’t doing so well.
My talk ended, and he and I were standing by a window. To lighten the mood, I said
something about the Red Sox. He said “Getty, I getta papers on banka reform every
week. Yours isa the best.”
Milton Friedman, another nobelist, had a different take. We had given talks at a Cato
Foundation symposium in San Francisco. He hated my idea. No great surprise. He
had written that money ought to earn nothing so that we wouldn’t own too much.
Any attempt to back money with anything, he told me, would meet John Law’s fate
in the Mississippi bubble. The backing commodity would become inflated and then
crash. So Nobelists can disagree.
My version of the same idea today looks first to ETFs (exchange traded funds),
which are more liquid and money-like than mutual funds. ETFs are usually index
funds, which replicate index holdings with no active management and so charge
very small expense ratios. But mutual funds might become money too. My idea, dead
opposite from Friedman’s, is that both money supply and money yield should be
held as high as possible.
What would happen to banks? Major angst, but not much damage. They would
devolve into their separate deposit and lending specialties, with separate
stockholders and only incidental interaction. Deposits would be invested in ETFs or
mutual funds. Federal deposit insurance would wither away as unneeded. There are
no runs on ETFs. Lending banks would have to raise funds to lend from investors
expecting a return.
Is there a downside? There is certainly a risk of one. The devil we don’t know is
what would happen to lending rates and what the consequences might be. That had
Chapter 1: Recollections 1/06/16 22
been one of Modigliani’s points in his interruptions. Federal deposit insurance
subsidizes cheap money and keeps lending rates low. Most tradition associates easy
money with growth and prosperity. Higher interest rates are associated with
restraint in investment and consumption both. Modigliani was right to worry.
My guess is that the bank reform and money reform I propose would drive
borrowing costs up, borrowing volume down, and equity investment up to fill the
gap. Corporations would issue new stock to retire corporate debt. Newlyweds
would rent, not buy, until their incomes were high enough to bring other options.
Modigliani was also worried that monetary policy would become impossible. It
would as we know it. I have argued elsewhere that fiscal policy can be made to work
as well and as fast. And I will argue for an unusual and more direct form of monetary
policy. But no one knows.
These concerns are reasons to go slow. I think that the reforms I describe are
developing now, with no input from me, and will continue if they succeed.
Depositors will be attracted away from banks to ETF accounts of equal liquidity and
full return. Federal deposit insurance will not be advantage enough to hold them.
Banks will get the message and join the parade by spinning off their loan
departments and investing deposits in ETFs. If Modigliani’s valid concerns haven’t
found good answers, the parade will stop until they do. It could backtrack to the
starting point. The reforms I believe in ought to work, but can be scrubbed without
much mess if they don’t.
I am not their only advocate. Others argue for splitting up commercial banks more
or less as I would. Meanwhile many people maintain liquidity in ETFs or mutual
funds rather than banks. There may be some originality in putting the two reforms
together.
This personal account can end with more thoughts about my father. My stepmother
Teddy’s touching book about their marriage, out a couple of years ago, tells the truth,
the whole truth and nothing but the truth. That what she does. He seems not to have
Chapter 1: Recollections 1/06/16 23
been the easiest guy to be married to. He pinched pennies, went on trips while she
held up the home front, came home late. My mother had about the same story. But I
saw different sides of him at different times and places.
Twice I saw him cry. Once we were listening to a Caruso record. He might well have
heard Caruso, although I don’t recall that he said so. He would already have been 28
when Caruso last sang at the Met. One of the two books he wrote by himself shows
him as an opera buff when on his own in Germany in the 1930s. He wrote what
operas he had heard, who sang, and what he liked. My mother said the same. Once
they arrived late at a performance of La Boheme somewhere on the Riviera, couldn’t
find a program, liked the tenor, decided to help him, and learned that they had failed
to recognize Beniamino Gigli.
The other time was about his and Teddy’s son Timmy. Timmy’s brain tumor was
inoperable and growing. He was 13. The doctors had told them to prepare for the
worst. We were in London. The papers said something about young toughs called
Teddy boys. My father started crying. Timmy wouldn’t make it, and the Teddy boys
would.
I’ve now lost a son myself. You thank the graces for what’s left to do. What’s left to
do includes composing, verse and economics. The first has panned out okay. A fair
bit of the verse was set in the music. At least that makes it read and heard. Aside
from the kind words of Modigliani and a few others, I can’t say as much for my
economics. So here goes again.
Chapter 1: Recollections 1/06/16 24
CHAPTER 2: FAST FORWARD
I dropped the course on economics because I couldn’t see the foundations. Not that
they should be clear from the start. That isn’t how the mind works. We see, do and
understand in that order. The pyramids rose four thousand years before people like
Galileo and Newton found the laws that made them possible. Practice comes first,
and science last. Science is abstraction from the particular to the general. It is fewer
rules predicting more outcomes more exactly. The pyramid builders knew rules for
this kind of stone and that kind of wood or rope. Newton gave rules for mass and
force. Those are not particular things like stone and wood and rope. They are
qualities of all things. Their rules are tougher to get our minds around, but predict
everywhere once we do.
What a book or course should offer from the start, even before the foundations, is an
inkling that it should be worth finishing. We have to sense that we’re on to
something. The price of getting there will be the nuisance of abstraction from things
to qualities, and we need to see a reason to pay it. I didn’t in the course on
economics. Now it’s my turn. I’ll try a fast forward through free growth theory and
my other arguments to give an idea where we’re headed and why it matters. The
foundations and then the slower tour will follow.
Free Growth
What I call free growth theory will probably count as the chief surprise, at least to
non-economists, because the argument and the supporting evidence call for a major
reversal in tax policy of this and other nations. But it is not original. John Stuart Mill
wrote the same idea in his Principles of Political Economy in 1848. I will quote what
he said in my Chapter 4. Although Principles became a leading textbook for decades,
the paragraph I quote seems to have been overlooked. Economic historians
including Joseph Schumpeter describe him as a champion of growth through belttightening.
The paragraph I will quote makes the opposite clear. We now have
means to prove his idea. I will show how to test it, and will show test results in
charts and tables taking up about 20% of this book. They imply that tax laws
Chapter 2: Fast Forward 1/06/16 1
encouraging investment over consumption and plowback over dividends,
particularly in the last half century, have led to dangerous overinvestment in the
private sector. The empty eyesores and bulldozer bills of 2008 are symptoms of proinvestment
policies founded in many countries after World War II. They did no
harm when the world needed rebuilding anyhow. But I suggest that output growth
slowed because of them, not despite them, after 1970 or so. I will argue that optimal
investment at the national scale, strange as it sounds, is depreciation plowback and
nothing more. Mill showed how that could be true. The same growth will arrive, say
he and I and the charts and tables, with no consumption sacrificed. More
consumption at no cost to growth adds up to more output. Output nosed down
since 1970 or so because we squelched consumption to no purpose.
That means only private sector overinvestment, prompted by unwise tax motives,
and only at the collective scale. Government follows different motives, and has
somehow followed them to an opposite problem in this country. Our infrastructure
rusts and crumbles. It seems that our good friends in the Tea Party think that roads
and bridges undercut market freedom.
Growth is interesting, even without these opposite distortions, because history is
interesting. Growth is our history. It is not the history of other creatures, who repeat
norms from generation to generation once evolved. That’s why the math of
Hamilton’s rule doesn’t work. And we care about it because there are emotional and
moral and belly issues attached. I gave an idea of its dangers in the foreword. The
past has proved survivable. The future has not. Then what about its cost? Does
faster growth need consumption restraint at the start? Is it a reward for sacrifice?
That’s what Mill tried to answer in 1848.
He started with the idea that output, meaning creation of capital, must mean growth
of capital (“investment”) plus consumption. I will call this the Y = I+C (or Y = C+I )
equation from the standard notation economists use. I will argue that it is true with
two adjustments. Investment must include investment in human capital, and
Chapter 2: Fast Forward 1/06/16 2
consumption must exclude any schooling or nurture already counted in that
investment. (Schooling counts as consumption.) Mill would have understood the
human capital concept, defined by Sir William Petty nearly two centuries before, but
economists only recently have begun to take it seriously. Mill’s meaning of the
Y = C + I equation, and the one accepted everywhere in macroeconomics even today,
leaves out the growth in human capital and includes all consumption.
That equation, which I will try to prove correct if we make the two adjustments,
shows that less consumption brings faster growth if output holds still. But nothing
in the equation says it will. It says that less consumption means either more growth
or less output. It doesn’t say which. John Maynard Keynes, probably the most
famous and influential economist of the 20 th century, put this fact of math a special
way in his General Theory of 1936. In his analysis, saving through less consumption
is either invested or not. Since output is consumption plus investment, saving
uninvested is so much less output. I like to put the same idea with a range of degrees.
All saving is invested, as I use the word, but finds different returns. Saving under the
mattress is investment at zero return, and drops output just as Keynes said.
Investment at the current average return keeps output unchanged. That’s what
Keynes meant. But investment at lower returns lowers output, and conversely.
Keynes’ version sees intended saving (consumption restraint) as either invested or
not, and sees it as translated dollar for dollar into actual capital growth if it is. Mine
allows any degree of capital growth below or above the actual cost of investment in
consumption given up.
This is a surprising concept, either in Keynes’ version or mine, because it seems to
fight personal experience. Until the next raise or job change or layoff, our incomes
seem to be known quantities. If we skip desert, and watch TV instead of going to the
movies, we can put more in the bank. At least our incomes will not drop because we
saved those costs. But it is different for all of us collectively. When the whole nation
saves, and either does not invest or invests less productively, output drops. Keynes’
analysis says the same, but leaves out the “less productively”.
Chapter 2: Fast Forward 1/06/16 3
My reading of the Mill paragraph says that if we plowed back only depreciation
investment, without invading consumption for more, we would still grow if that
investment paid off in higher returns than the current norm. Then capital would
grow faster without making consumption grow slower. The gain in output, even
though we had invested only enough to make up for depreciation while keeping
consumption the same, would have been split into some for capital growth and
some for more consumption. And Mill gave the reason for the gain in output. The
driver was “whatever increases the productive power of labor”. He was talking
about better ideas. We would make returns higher if we could make capital more
productive at the same cost.
This possibility troubled Nobelist Robert Solow, who came reluctantly to a
conclusion most of the way toward Mill’s a century later. He felt that growth should
not be a gratuitous deux ex machina arriving at its own whim. How could Mother
Nature say “Shazam” and turn less into more whenever new ideas come along?
Didn’t the capital chicken have to grow before the output egg? Didn’t we have to
tighten belts to invest in new plant applying those new ideas? But the evidence
seemed to say that the rise in output came first. Rise in capital followed. Thrift
seemed to play little role. Tests by others have tended to find the same thing since.
My own tests, using new data from national accounts and my own new testing
method shown in my charts and tables, reduces the role of thrift to zero. How could
that be?
How could better kinds of capital arrive without costing more, at least at the start,
than the kinds we already knew? My best guess is that the cost of innovation in
failure rates and learning curves is the cost of being human, that we pay it about the
same every day, and that growth happens when the worth of innovation proves
more than the cost. It can because we are human. The cost of being human means
the cost of adapting. It is how we cope. We turned in our fangs and fur in exchange
for the savvy to make tools and fire and clothing do better. Other creatures adapt
Chapter 2: Fast Forward 1/06/16 4
too, but we became the specialists. Adaptation grades into innovation whenever it
somehow becomes a norm. That too happens with other creatures, but not as often
or as lastingly. Their new norms almost always revert to the old ones. Our
innovations collect and accrue. That’s why growth is our history.
Its costs are failure rates and learning curves. Many innovations are blind alleys, and
most others need shakedown runs. But we’re stuck with those as the cost of being
human. And we’re stuck with them whether the result right now is growth or not.
They were our cost of survival during our million years as homo erectus, when the
archeological record shows little overall change in the stone tools we made. Growth
and lasting innovation picked up marginally with the emergence of Ancestral Eve
and bigger brains about 200,000 years ago, and began accelerating about 50,000
years ago. Growth happened because the more or less constant cost of adaptation
and innovation became less than the payoff. New ideas finally found traction at no
added cost. Mill’s idea was that more payoff in growth need not presuppose more
sacrifce.
Does that mean that all we need for growth is new ideas and the courage to trust
them? Well, no. We still have to plow back depreciation as the cost of holding even.
We need practical savvy and patience too. Sometimes great new ideas must wait for
an opening. That may be why our bigger brains showed little effect on the kinds of
tools we made until about 50,000 years ago. And I will argue that innovations need
laws and customs that welcome them. Otherwise they will make a few bucks for the
local warlord rather than wealth for the originator and the world. But what they
don’t need, say Mill and I and the data, is tighter belts.
Adam Smith, in his Wealth of Nations published in 1776, proposed growth by belt
tightening. Most tradition has agreed, with the proviso that new ideas must come
first. Solow raised doubts about the role of consumption restraint, but stopped short
of denying a need for it. Mill acknowledged both ways to grow. My charts and tables
will confirm that only the kind that troubled Solow has actually happened, in every
Chapter 2: Fast Forward 1/06/16 5
country and period tested. I call it free growth. My own free growth theory
acknowledges growth by consumption restraint, which I call thrift, only as a
mathematical possibility which doesn’t seem to happen. So my idea, taking account
of data Mill didn’t have, is different from his. I must be careful not to put my ideas in
his mouth. When I say “Mill’s idea”, from now on, I will mean some of both.
No one had the data to prove him right until national accounts began reporting
market-valued capital in 1990 or so, and reconstructing it for a few decades before.
What they had earlier was the book measures of capital that we see in balance
sheets. They don’t reveal enough. Book measures assume depreciation norms.
Outcomes converge to norms over time, but meanwhile might be anything. National
accounts follow a form of this book or depreciation accounting. They now report
market-valued capital too, but still prefer book methods to calculate investment I
and output Y in the Y = C + I equation. That doesn’t work well. Did you know that
national accounts in France, Germany, U.K. and the United States all reported
positive net investment in the crash years 1929, 1930, 1937 and 2008? Net
investment, meaning net of depreciation, is intended to show growth in capital value.
Do you think values really went up in those crash years? And national accounts can
be just as wrong in the opposite direction. In the boom year 1933, when stock
markets were up 42%, 67%, 96% and 46% in those four countries, Germany and U.S.
reported net investment (capital growth) as negative while France and U.K.
reported it up less than half a percent. All this shows in my charts and tables.
Reports of net investment in national accounts tend to prove radically wrong in
years of unexpected upturn or downturn because they don’t get the news of wars or
national disasters or discoveries or business cycles until new assets are bought or
new products sold. Purchases and sales are normally the only input into the books.
Average time between original purchase and realization in sales is the “holding
period” or “turnover period” of capital. For all physical capital together, it runs
several years. Accounts in those slump years were reporting the good news of boom
years shortly before, including the booms of 1935 as well as 1933 preceding the
slump year 1937. Accounts in the boom year 1933 were finally getting the news of
Chapter 2: Fast Forward 1/06/16 6
the crash. (Yes, some of the strongest boom years in history came during the world
depression.)
This is not to question the need for national accounts. We could not manage without
them. But the genius of accountancy is in its reporting of cash flow items.
Depreciation, even its sophisticated form used in national accounts, is a makeshift
approximation better than nothing. I argue that it is obsoleted by our access to
market-valued capital appearing in the last few decades.
Mill’s argument was that capital growth might be explained by productivity gain as
well as by thrift in deferred consumption. The way to test between them that I will
describe takes measurements of market-valued capital, its year-to-year change in
these, and consumption at the same time. I call it the simultaneous rates method. In
any year and country where consumption restraint explains growth, although the
data show none, rise in growth rate would equal current drop in consumption rate
(consumption/capital) while rate of return (output/capital) holds unchanged. When
productivity gain is the explanation, as the data confirm so far, it is consumption
rate that holds the same while growth rate and return rise equally. That’s what I
test. Data in charts and tables for those four nations from 1870 through 2010, and
from Australia, Canada, Italy and Japan from 1970 through 2010, show that faster
capital growth coincides with higher consumption rates in the same year as often as
not. Less consumption has simply meant less output with no growth to show for it.
That is the sense in which growth is free.
These countries and periods are not cherry-picked to support Mill’s idea. They are
all I have found. My source for national accounts including market-valued capital
was the website of Thomas Piketty and Gabriel Zucman adjusting their data to
uniform accounting standards and measuring them in 2010 currency units. It also
collects recent and past research by other economists modeling what national
accounts, again including accounts of market-valued capital, would have shown in
years before they were founded in 1930 or so. Simon Kuznets, for example, who
Chapter 2: Fast Forward 1/06/16 7
founded the national accounts in the 1920s and reorganized them along Keynesian
lines when the General Theory was published, reconstructed them back to 1870 for
the U.S. economy. Piketty and Zucman incorporate this research and others. They
have acted as editors only. As a layman, I would hardly be qualified to find and
interpret original sources. Even most economists might lack that specialty. I simply
trust Picketty and Zucman. They will have compounded misreadings and editors’
bias in those sources by adding their own, and I will have added mine. They and I
have plenty. Editing is bias by definition. But we can’t do without it. We manage as
best we can.
To make sure, I also test Mill’s idea on stock market data from the same nations and
periods. Here my source was the Global Financial Data website marketed by
Bloomberg. Market cap corresponds to capital, dividend yield to consumption and
total return to output. Charts and tables show free growth as essentially all of
growth in stock markets too.
Now try a first look at the charts and tables. The lollipop-shaped Greek letter ϕ
(phi) is something I call the free growth index. It reads 1 in years when growth is
explained as Mill described, 0 in years when belt-tightening was the explanation,
and something in between when there was both. The free growth index will be
explained in chapters 4 and 5. The charts can be messy, and the data jumps around.
There are spikes, both up and down, which tend to disappear in the charts which
screen out small absolute values of the denominator (capital acceleration). But the
free growth index clearly jumps around 1, not zero, both before or after the
screening. It is as often above 1 as below. That means that growth is as likely to
coincide with belt-loosening as belt-tightening. My free website
FreeGrowth&OtherSurprises.org shows how everything was calculated.
Economists will not be as surprised as they might have been a century ago. Growth
theory since Solow’s revolutionary papers in 1956 and 1957 has marginalized
Chapter 2: Fast Forward 1/06/16 8
capital accumulation or thrift, and has seen most growth at the national scale as
“exogenous” or unexplained by whatever we suppose that we give up in exchange.
This book takes the next step in the same direction. The role of thrift is zero. It is
politicians, not economists, who will be flummoxed. The double tax and the tax
preference for capital gains are examples of policies favoring investment over
consumption to benefit growth. The record shows no such benefit in any country
ever. From all evidence so far, free growth theory is free growth fact.
A New Way to Measure
What this book tries to add is not only the next step in Solow’s direction. My
simultaneous rates method offers a new means of testing. Twentieth century growth
theory, led first by Keynes’ colleague Sir Roy Harrod and then by Solow, has tried to
gauge the effectiveness of consumption restraint by a different method from Mill’s
and mine. It has looked for effects on later output rather than on current capital
growth. I call it the lagged flows method. Why the lag? Because if output is growth of
wealth (capital) plus consumption, a shift from the third to the second cannot
change output at the same time. Rather output should benefit after a lag of a few
years for the capital that produces it to accumulate. Capital investment plants a tree,
and output growth is the new fruit expected to follow.
The lagged flow method makes sense, and there was nothing better until data for
market-valued capital began appearing in 1990 or so. But the lag tends to blur
causality. Later changes in output could have later causes. And output itself, after
the lag, could not be measured reliably for lack of the same data. It has been
measured as gross or net domestic product, reported as the sum of consumption
and book investment. Books don’t get the news until new assets are bought or new
products sold. We just saw the anomalous book results reported for 1929, 1930,
1933 (the opposite distortion), 1937 and 2008. Those are not the only examples. My
method measures output as consumption plus change in market-valued capital. It
seems to me that Piketty and Zucman ought to have shown output this way, at least
as an alternative version. Isn’t it inconsistent to measure capital at market, but to
Chapter 2: Fast Forward 1/06/16 9
measure its change (net investment) at book? And isn’t it better to measure the
effectiveness of thrift with neither the lag nor the well-known problems of book
depreciation?
I will show the math of my simultaneous rates method in Chapters 4 and 5. Chapter
4 reasons from the Y = C + I equation, even though I don’t accept it, while Chapter 5
translates findings into the new version I do accept. Charts and tables show both
versions for all eight countries reported, over all years reported, and run the
averages. The thrift index, or ratio of the supposed cost to actual growth, averages
zero. I found it best to show separate charts for each country by each of the two
versions of the Y = C + I equation and by each of three levels of denominatorscreening
(none, then two progressively wider screens). Other charts track other
data that seemed informative. That explains why charts take up so much of this
book.
This completes my first survey of free growth theory and its support in the data.
Chapters 4 and 5 will cover the same ground again from new perspectives. So it will
be with other themes of this book and other chapters. My problem is to sell
unfamiliar ideas, although not necessarily new ones, and in somewhat unfamiliar
language too. My “simultaneous rates method”, yet to be clarified, is an example. I
use the standard language of economics where I can, but must sometimes tweak
words or coin them. We will see that in Chapter 3. I try to cope with that double
challenge – unusual ideas in unusual terms – by the same strategy of restatement
from new perspectives until all fits together.
Fixing the Y = I + C Equation
If I had any sense, I would pretend to accept the Y = I + C equation as Mill and all
other economists seem to do. Then I could have done with only half as many charts,
and made this a book about free growth only. Any fool knows that a book should
pick a focus. The data confirming Mill’s idea would have made a spectacular finale.
Why undermine my own case by questioning his assumptions? So I should probably
Chapter 2: Fast Forward 1/06/16 10
have played dumb and quit ahead. But that would have left out half the story and all
the other surprises. I confessed that the surprises are the features I can’t resist. If
they are fun for me, I can accept the challenge of making them fun for the reader.
Anyway, I already opened that can of worms by showing that I don’t accept the
Y = I + C equation even though others do. I gave an idea why, and can sketch my
reason out a little farther.
It begins with something I call the total return rule or total return truism. The
truism is that creation of value equals growth of value plus cash flow, where cash
flow means value taken out less value inserted from outside. I don’t think anyone
doubts this truism, which is fundamental everywhere every day in the investment
world. I will prove it anyhow, just for good measure, in the next chapter. It is
probably the reason that the Y = C + I equation is readily accepted. Net investment I
is meant to show physical capital growth. It could look to be the growth in value, if
we don’t consider human capital, and consumption C could look to be the value
taken out.
But a second look is needed. The logic doesn’t work unless we consider all value
including human capital. Some consumption is invested in human capital, and only
the rest exits the whole economy in satisfying tastes. Then the equation would still
be true if the invested part of consumption equaled human capital growth.
The reason why it doesn’t starts with what we already know about human capital.
Petty in 1664 had hit on the idea of this as time-discounted future lifetime pay.
Adam Smith in 1776 saw it equivalently as accumulated past investment in nurture
and schooling. The Americans Irving Fisher and Frank Knight revived both ideas in
the early 20 th century. The tempo picked up after World War II at the University of
Chicago. Jacob Mincer rederived Fisher’s present value equation in 1958, and
modeled investment in human capital through job training. Nobelists Theodore
Schultz and Gary Becker soon joined in. New insights included the realization that
human capital grows from the self-invested work of learning, as well as the outside
Chapter 2: Fast Forward 1/06/16 11
input of nurture and schooling, and then depreciates gradually to zero just as
buildings do. Yoram Ben-Porath combined these ideas and more in a masterly lifecycle
model published in 1967. We’ll get to it soon.
Schultz called the part of consumption exhausted in taste satisfaction “pure
consumption”. The part invested in human capital was “pure investment”. I change
that to “invested consumption” to avoid confusion with investment in physical
capital. Since there is no settled term for the part of work invested in learning, I call
it “self-invested work”. I call the part of work sold for pay “realized work”. Then the
consensus view formed in the 1960s held that human capital growth equals
invested consumption plus self-invested work less human depreciation. I agree,
with a clarification as to possible deadweight loss that I’ll come to in Chapter 6. I call
it the Ben-Porath equation, although he drew it from the Schultz-led consensus. It is
really a summary of the first four of the equations in his 1967 paper taken together.
This explains my critique of the Y = I + C equation. The equation would be true if
human capital growth equaled invested consumption. In fact it equals that plus selfinvested
work less human depreciation. The corrected equation would read “output
equals consumption plus investment plus self-invested work less human
depreciation”. I call this the “Y rule”.
Upending the Y = I + C equation is big news. Macroeconomics and the national
accounts are founded on it. That’s one reason, although not the main one, why I
think that macroeconomics should start over. It doesn’t follow that national
accounts in themselves need much change, aside from reporting net investment at
market as well as at book, because accountants must measure what they can.
Human depreciation and self-invested work elude market measurement. But
economists can allow for them, and they are huge flows. Human depreciation is
depreciation of the larger factor. And self-invested work includes more than
learning. Ben-Porath showed, as we will see, that it equals all growth in human
capital not explained by inflows of nurture and schooling less outflows in human
Chapter 2: Fast Forward 1/06/16 12
depreciation. That implies that it includes all free growth of the larger factor. And
these huge flows would figure to be uncorrelated. Depreciation of either factor is a
steady drag on growth, while free growth is revealed in the charts and tables as a
bucking bronco which might be double-digit positive one year and double-digit
negative the next. No wonder that national accounts cannot reliably tell good years
from bad.
Another distortion in the Y = I+C equation is the undue prominence given to
consumption. Physical capital, in most views including mine, is only a third to a fifth
of total including human capital. Human capital is the lion’s share. Pure
consumption is most of consumption, in my view, but not all of consumption. If the
factors grow in mutual proportion, then, the ratio of total capital growth to pure
consumption will be much higher than of net investment to all of consumption. That
explains, I think, why national accounts have reported not a single year of negative
net product in any of the eight countries since inception. Balanced portfolios report
negative total returns every few years. So would net product, were it not dominated
artificially by the steady positive of consumption. It is as if a portfolio dominated by
investment grade bonds were taken as representative of a realistically balanced
portfolio.
Solving the Age-Wage Puzzle
I will now try to solve a feature that troubled Ben-Porath and has troubled many
economists since. I call it the age-wage puzzle. Age-wage profiles are published
reports comparing pay earned by all working ages at the same time. Since all
cohorts (same-age sets) are compared at once, as in a family portrait, age-wage
profiles do not show effects of technological growth over time. They show effects of
age and experience alone. What appears is that pay or wage rises steadily until
retirement or near it. Meanwhile human capital is present value of remaining
lifetime pay, and shrinks steadily as approaching retirement and mortality leaves
fewer future paydays to discount. Most students of human capital including Ben-
Porath reason that self-investment must end when time left for recovery in higher
Chapter 2: Fast Forward 1/06/16 13
future pay runs out. So do I. The puzzle is how pay could rise while human capital
shrinks smoothly to zero.
This would not be a puzzle if we were speaking of oil wells whose oil might continue
to be pumped out at a steady or even rising rate until the well ran dry. We are
puzzled because pay is generally believed to equal and compensate work. Work
means the output of human capital. How could less capital steadily produce more
output, meaning creation as distinct from depletion of value, particularly if some
work is self-invested rather than marketed for pay? That would imply exponentially
rising productivity, meaning rate of return, and rising to infinity at the end.
Think about it. Strictly speaking, human capital is present value of future pay less
spending on future childhood nurture plus textbooks or tuition or job training
(collectively called “schooling” by Mincer) invested in human capital. Ben-Porath
knew that, as had others before, but reasoned that investment in anything must stop
when not enough time remains for recovery. I think so too. And I argue anyhow,
from observation rather than logic, that invested nurture and schooling
substantially end when we enter the full-time job market sometime in our twenties.
Then human capital in adulthood is essentially present value of expected pay, or
even less if Ben-Porath and I are wrong and nurture or schooling continues to the
end. When only a year of pay is left ahead of us, human capital at most is timediscounted
present value of one year’s pay. When one day is left, it is at most
present value of one day’s pay. Yet age-wage profiles show pay (wage) holding level,
or even rising, as human capital grades smoothly to zero. This is the famous agewage
puzzle. I’ll flesh out the same thought experiment later in what I call the
parable of the boss and her secretary.
Economists have recently proposed solutions which I see as farfetched. Possibilities
that human capital indeed grows more productive with age, or depreciates all at
once, seem implausible in each case and cannot begin to explain enough. I think
Becker hinted at the answer in 1964. Becker pointed out that job training at the
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employers’ expense is part of investment in human capital, and reasoned that
employers won’t pay it unless they expect eventual recovery with interest.
What Becker stopped short of saying is that the same is true of any investment in
anything by anyone. When we invest for our own benefit, we expect recovery by
ourselves. When we invest for the sake of others, we expect recovery by them.
Recovery means recovery of depreciation. Our parents would not have invested in
our human capital without expected recovery of our human depreciation by us, and
the young further invest the work of learning in themselves because they expect
that to be recovered with interest as well.
There is another proof which I call the deadweight loss rule. Capital of any kind is
present value of cash flow, meaning expected realizations in transfer or taste
satisfaction. Deadweight loss means decapitalization with neither. It follows that
deadweight loss, although a common reality, is implicitly unexpected. But human
depreciation, like plant depreciation, is expected from first investment. That rules
out deadweight loss, and makes human depreciation expected as cash flow by
elimination of alternatives.
Each proof is sufficient. The first expresses what I call the maximand rule: we
maximize risk-adjusted rate of return. Robert Turgot observed this in 1766. I’ll say
more about that in the next chapter. It takes little thought to realize that maximizing
risk-adjusted return begins with recovery of investment, and that this means
recovery of depreciation or amortization. We are depleted like the oil well, although
we create value too. The second proof needs only the assumption that human
depreciation is foreseen. It adds the specification that human depreciation is
realized in human cash flow. That turns out to mean that it is realized in pay. The
solution to the age-wage puzzle is that pay does not equal and compensate realized
work above. It compensates that plus human depreciation. I call this the “pay rule”.
Chapter 2: Fast Forward 1/06/16 15
The pay rule joins free growth theory and the Y rule as the three major surprises
promised in my title. Recovery of human depreciation in pay changes a lot of
equations. It does not impact public policy and tax laws as radically as free growth
theory, but I will argue that it impacts them enough. Even if it didn’t, it is probably
the most startling assertion in this book from an economist’s viewpoint. And
although I now know better than to claim originality for any idea in economics, this
one just might pass the test. If someone out there knows a precedent closer than
Becker’s, as I eventually found ones for what I had thought were my own free
growth and next generation theories, all the more fun in finding those unsuspected
precursors. (Next generation theory will be outlined soon.) And the two proofs
leave no doubt. I will add a few more as we go. It is never overkill to drive another
stake through the heart of entrenched misperception. Meanwhile we can already be
as sure of that expected recovery, not actual recovery, as of anything we know. The
arguments from the maximand rule (Turgot’s insight) and the deadweight loss rule
are unanswerable.
An analogy from something else we all know leads to the rest of my argument. Pay
over working careers is something like payments over the period of a decliningbalance
mortgage. Mortgage payments are partly amortization and partly interest.
Amortization is like depreciation, although without the same sense of physical wear
and tear behind it, and interest is like the worker’s output marketed to employers.
The declining balance is like human capital. Mortgage payments are almost all
interest at the start of the loan, when the declining balance is almost the whole loan
amount, and then gradually less interest and more amortization as the balance
shrinks. As the balance approaches zero at the end, the payment approaches all
amortization while the interest share approaches zero.
My depreciation theory, which we’ll come to soon, argues that depreciation follows
the same logic and the same math. I will argue, in the face of what has seemed to be
contrary evidence, that depreciation of both factors begins at zero and grows
Chapter 2: Fast Forward 1/06/16 16
exponentially to become all of cash flow at the end. This completes the explanation
of age-wage profiles as we see them. Pay is all human depreciation at the end.
What I Thought Once
Chapter 6 will compare accounting for human capital to accounting for a firm. Pay,
in this analogy, is the worker’s revenue. The firm deducts outside operating costs of
labor and supplies to leave gross realized output. The analogy for human capital
would be maintenance consumption enabling life and activity. But I don’t deduct
this in reaching the workers’ gross realized output (gross realized work) because I
take it as part of the net output we intend in itself rather than a cost in return for
what we intend. I see adult consumption as mainly Schultz’ pure consumption
exhausted from the universe of capital, including human capital, in satisfying our
taste for adult survival.
Opinion is divided here. Some economists have treated the maintenance
consumption that keeps workers going as new investment in human capital for the
sake of higher pay in future. Some in the 18 th century expensed it, like maintenance
in the firm, as a cost recovered in keeping up the worker’s revenue (pay) now,
rather than invested for later. I did that for years. I now treat it as recovered neither
in pay now nor pay later. Even though we couldn’t earn without it, I count it in pure
consumption exhausted in satisfying tastes for survival.
When I thought it was recovered in pay and work products, up to about five years
ago, I realized that human depreciation could not also be. There would be nothing
left for pure consumption except Mill’s “unproductive consumption” neither
replacing nor maintaining human capital. That would stand biology on its head.
Biology is precisely about replacing and maintaining us. Unproductive consumption,
for which there seem to be parallels in other species, is something biology has yet to
justify. It cannot be the unique taste satisfaction that behavior reveals.
Chapter 2: Fast Forward 1/06/16 17
I found a solution that seemed to make sense then. It was the exact opposite of what
I think now. If maintenance consumption were recovered in pay and work products,
as I now think human depreciation but not maintenance consumption is, then
human depreciation instead of maintenance consumption could be exhausted in
taste satisfaction! That seemed less macabre to me then. I looked for ways in which
human depreciation, hardly the biological end in itself, could somehow be its
measure. It was not unreasonable, I thought, to interpret human depreciation in
aging as the cost of survival. The old gag says that aging is not so bad when you
think about the alternative. Age-wage profiles could be explained, I thought then, as
recovery of maintenance consumption rather than of human depreciation in pay.
And I had those precedents from the 18 th century. I knew that Francois Quesnay
and the physiocrats, in Adam Smith’s time, had argued too that consumption could
be recovered in earnings. Mill could be interpreted that way, in his definition of
“productive consumption”, as could Piero Sraffa in a paper from 1960. I thought I
was on the right track.
What brought me to my senses was the thought experiment about a boss and her
secretary I mentioned earlier. Picture them together at the beginning of the last year
of human capital for each. The boss earns ten times as much. Human capital for each
is one year’s pay, or even less in the unlikely case that invested consumption
continues to the end, less one year’s discount. If pay measured work, rate of return
(work/human capital) would be something over 100% per year for each. It would
be even more in the unlikely case that some work remains unrealized (self-invested)
until the end. Yet their time preferences measured by return to their other
investments, say securities, is less than a tenth as much. This already states pretty
clearly that pay covers more than work.
In case there was doubt, go on to the beginning of the last day. Age-wage profiles
show that pay for each is about what it was a year before. Rate of return to each is
now a little over 100% per day. At the beginning of the last second, it is a little over
100% per second. At the end of the last second it is infinite. Yet the securities in their
Chapter 2: Fast Forward 1/06/16 18
portfolios are chosen for returns no higher and riskier than the year before. They
will tend in fact to be lower, judging from logic and evidence for a decline in risk
tolerance with age.
Then what besides work is recovered in pay? The two possibilities I was weighing
were maintenance consumption and human depreciation. The winner was obvious.
The higher-paid usually consume more, but not always and not in proportion. The
fact that we must generally be paid enough to cover consumption does not imply
that we are paid to consume. We are motivated to do that anyhow. We are paid to
apply skills, and are paid in proportion to skills applied. Human capital is skill sets.
Pay measures its transfer to products, whether in realized work currently created or
from capital in place through human depreciation.
That’s how I came to the pay rule. We see why it ought to startle economists.
Macroeconomic tradition teaches the doctrine that wage measures work, and
teaches it so confidently that it uses the notation W for either. Human capital
tradition recognizes that some work is self-invested, but effectively treats human
depreciation as deadweight loss. That’s why I use “pay” in place of the more usual
“wage”.
Refuting a Piketty Argument
There are practical uses for the pay rule aside from solution of the age-wage
problem. These are the impact on tax laws and public policy that I promised. Piketty
has shown correctly that the ratio of pay to net profit rose substantially during the
world wars, world depression and welfare state period following, and has declined
since. Piketty argues for higher capital taxes in consequence. His argument follows
tradition in comparing pay and net profit as the shares of workers and investors in
income. But tradition is wrong. Pay is the worker’s gross realized income, meaning
gross of human depreciation. Depreciation, for either factor, is a steadier flow. This
makes gross output for either less responsive to upturns and downturns. It is a
particularly high share of realized income or output in hard times when dislocation
Chapter 2: Fast Forward 1/06/16 19
of both factors (human and physical capital) drives net output down. Comparison
between net income and gross realized income can mislead. Piketty is right about
the data, but wrong about its interpretation.
Depreciation Theory
This is the explanation I promised when I said that depreciation is essentially like
amortization. Accounting tends to practice straight-line depreciation over standard
depreciation periods. A well-known refinement, allowed but not much practiced in
business, is called current cost accounting. The idea is to correct distortions due to
past inflation. The problem is that books reflect long-term assets and their
depreciation at original cost at date of booking. Current cost accounting adjusts both
to the equivalent in current dollars. It shows both net worth and depreciation as
higher if prices inflated since booking, or lower if prices deflated. That seems to
make sense.
A further adjustment called replacement cost accounting does the same, but also
replaces linear depreciation with a curve believed more realistic. National accounts
adopt this method. It is sound in principle. But they shape the curve in the wrong
direction. They rely on records of actual sales of plant to model depreciation as
steep initially and slower later. I suggest that this record is misleading.
My starting point is that value of any capital is discounted cash flow. To keep things
simple at first, suppose that cash flow in constant dollars is expected to hold steady
for fifty years before asset life ends. Also suppose a constant time discount rate.
Present value at the outset is fifty years of discounted cash flow. At the beginning of
the second year, it is 49 years present value of the same cash flow at the same
discount rate. All that has been lost is present value of the 50 th and most-discounted
year. At the start of the third year, capital has dropped again by present value of the
49 th and second-most discounted year. So it continues until the end as the discount
Chapter 2: Fast Forward 1/06/16 20
period approaches zero. Depreciation increases absolutely each year, and increases
even faster in ratio to capital.
What I have just modeled is depreciation rising exponentially from zero at the start
to a maximum at the end. National accounts show the exact opposite. They show it
decreasing exponentially from a maximum at the start. The reason for the difference
is instructive. I would rather trust the present value formula to show what assets
are worth subjectively to their owners. The national accounts prefer to trust
evidence as to what they are worth to others if sold. That’s a solid method too if the
evidence is likely to prove representative. It isn’t in cases where transactions are
more likely to have been driven by pressure to sell than pressure to buy. Plant is
generally tailored to purposes of its first owner, and not meant to be resold. Plant
sales tend to follow disappointing results. These are likelier to come early as
business plans are first tested. That could explain why evidence without logic has
suggested that depreciation tends to start fast and slow down with time.
I would recommend that national accounts continue tracking actual sales as an
indicator of true depreciation curves, but limit the study to rental buildings
expected from the start to be resold several times. I mean apartment buildings,
office buildings and warehouses designed along standard lines. Many investors
specialize in buying and selling these tradable assets for portfolio purposes.
Pressure to buy and pressure to sell tend to balance.
I can testify that prices bid for them are found either by discounted cash flow or
internal rate of return (IRR) methods. IRR is a variant of the same thing. A bid price
is modeled as the original negative cash flow in evaluating the proposed purchase.
Then the positive cash flows at each year’s end are modeled, and the discount rate
found which nets present value of all flows together to zero. If this rate is judged
competitive, the purchase goes ahead. This method was originated by Keynes in the
General Theory as his “marginal product of capital”.
Chapter 2: Fast Forward 1/06/16 21
And I repeat that most other structures are not meant to be resold. Productive plant
is customized to original owners. Tract housing is not, but becomes adapted to them.
Original plant operators and homeowners typically expect to stay put. Most do.
When they do, their own valuations are higher than would likely be realized in sale.
Owners’ valuations matter. Economics is more than prediction of sales prices. It is
prediction of behavior. It is the owner’s valuation of an asset, not a hypothetical
outside valuation, that predicts what he will do to exploit and defend it.
My depreciation theory does not jolt settled belief as forcibly as free growth theory
or the pay rule and Y rule do. It contradicts only a minor feature of the national
accounts. But it contradicts that diametrically, and adds clarity to the pay rule too. It
is also original as far as I know. Who has said such a thing before? All the more fun
and satisfaction in finding out and setting the record straight. There are giants out
there, whether I ever make it to their shoulders or not, and economic history means
identifying them.
Retirement Theory
Retirement generally means the period or first moment when people end the
careers for which their training has been specialized. The reason is typically not
diminished skills and performance just yet, as age-wage profiles show no little or no
drop in pay toward the end. I think it is more that we and our bosses see the drop
coming.
Literal pay is typically zero in retirement. Instead we earn imputed pay for taking
care of ourselves and one another, and for driving the grandkids to the zoo. These
services are tangible, not psychic, in that they save the hire of others to do the same.
The imputed pay is what the others would have charged. But it typically is not
enough to meet our consumption needs. Retirees must typically draw down savings
or depend on “social transfer payments”, meaning support from government or
family or foundations, to make ends meet.
Chapter 2: Fast Forward 1/06/16 22
It seems that these infusions from savings or gift cannot be interpreted as invested
consumption to be recovered with interest later, but are rather pure consumption
recovered now in the satisfaction of survival. Then human cash flow, or pay less
invested consumption, remains positive to the end if we recognize imputed pay.
Economists should, I think, because it figures into predicting behavior as much as
literal pay. So does psychic pay.
It follows that human capital, meaning present value of all pay in the absence of
invested consumption to deduct, continues after retirement. That shows that my
parable of the boss and her secretary is oversimplified. Parables tend to be. The
secretary may happen to have better skills as a full-time caregiver, which both she
and the boss will figure to be in retirement, and so may reverse the disparity in
human capital then. All models, I guess, assume ceteris paribus (other things equal).
My retirement theory leaves much unexplained. It tries to throw a little light here
and there. I believe it achieves some surprise, and even originality until we know
better, in my argument that human capital continues after retirement. Yet this
follows directly from Ben-Porath. Invested consumption must end when time for
recovery runs out, whether or not I am right in ending it with job entry decades
before, and human capital must last as long as literal or imputed pay does. The
endurance of human capital through to mortality is not logical certitude, but need
not be doubted either.
Retouching the Ben-Porath Model
Ben-Porath’s life cycle model seems right enough in all features but one. Equations
in his 1967 paper imply that pay measures realized work alone. This should be
adjusted to show the pay rule. I would also model invested consumption as ending
at independence, or a few months later to allow for initial job training. That does not
contradict Ben-Porath, who leaves such a possibility open. I would further apply
depreciation theory to model human depreciation as growing from a negligible
share of pay at first employment to substantially all of pay at the end.
Chapter 2: Fast Forward 1/06/16 23
My model is the same as Ben-Porath’s from birth to independence. All consumption
and all work are invested, for modeling purposes, until schooling ends at full-time
job entry. I model this transition at age 20. Pay, realized work, human depreciation
and pure consumption all begin at that point, although human depreciation begins
at essentially zero.
Self-invested work continues as an important but diminishing share of work until
late in careers, just as in Ben-Porath. I differ from him mildly in that I model all adult
consumption as pure consumption. Ben-Porath allows adult invested consumption
without assuming it. I regard it as real but negligible. Age-wage profiles are
explained by self-invested work and depreciation theory alone.
I model this self-invested work as subliminal accumulation of job experience. My
reason is personal observation. What I have seen in plants and offices is people
working full time on the job. We don’t take time off to learn. Experience simply
arrives, much as free growth does. I think that my view on this contradicts Ben-
Porath’s marginally. He seems to allow some such allocation of time to help explain
age-wage profiles.
Next comes retirement. I model this as just shown. Later I will expand this model to
include acquisition and disposal of physical capital too. The combined model will
give most of the math and mechanics of next generation theory.
Risk Theory
For practical purposes, economic risk is usually measured as expected standard
deviation in rate of return. Safer assets vary less from their return norms. Shortterm
treasuries are thought safest because they combine fixed nominal return with
fast liquidity in case inflation threatens. The market overall bids safer expected
outputs up and riskier ones down. Since asset value is the denominator in rate of
return, and output the numerator, the effect is make risker assets higher in return.
Chapter 2: Fast Forward 1/06/16 24
Risk tolerance might be anything in any individual. As a norm, it tends to be a
function of age, gender and wealth. Effects of age and gender are better understood.
Teens and young adults, particularly males, seem readiest to take chances. Prison
populations and medal of honor rolls feature young males. Part of the explanation, I
think, is biologist R. A. Fisher’s sex ratio theory of 1930, or equally Bob Trivers’
differential investment theory of 1971. Young males show greatest variance in
reproductive prospects. Females are almost always assured of a few offspring.
Young males might leave none or many. Nature arranges tournaments or displays to
give fitter males the advantage.
Another reason is that the young, of either sex, have most time left to outride
downswings. The older we get, the more risk-averse.
Some businesses and assets are inherently riskier than others. Nerf balls are safer
than hand grenades. But I prefer to look past the asset owned to the owner. We tend
to own assets suited to our risk preferences. And we tend to operate it as safely or
riskily as we like. That is true particularly of human capital, although it was first
designed according to our parents’ goals rather than ours. Human capital is
probably the most versatile asset, even so, and is adapted to our purposes rather
than theirs. We make it as risky as we choose. The risk-averse can become florists or
Trappists. Risk lovers can try bullfighting or skydiving. What does that tell us about
the relative risk of the factors?
Human capital is owned disproportionately by the young. We own very little
physical capital, legally or in practical effect, until maturity. Pay at first is barely
enough for survival. We accumulate it gradually as pay rises with age, and then
deplete it in provision for the young and in our own retirement. Since physical
capital is owned disproportionately by the older and more risk-averse, and human
capital the contrary, human capital figures to be higher on average in risk and return.
Chapter 2: Fast Forward 1/06/16 25
There is another useful inference. Adults own assets in the business and housing
sectors. Older adults tend more to own debt claims on these sectors, and younger
adults to own equity claims. But all adult ages collectively own both sectors
collectively. It does not follow that the sectors are equal in risk, as older individuals
might tend to own one sector predominantly, and younger ones the other. As a
layman, I don’t really know.
What I happen to know is that the publicly traded corporate sector, meaning stocks
particularly but also bonds, is far more liquid than the housing sector, and that the
rest of the business sector is far less liquid than either. Risk in general includes
liquidity risk. This leads me to the hypothesis or hunch that the housing sector in
general should be safer than the business sector, ceteris paribus, but that the
publicly traded corporate sector, cap-weighting debt and equity claims on it, may be
safest of all.
The idea that stocks and bonds cap-weighted are safer than houses might have been
laughed to scorn a few years ago. It doesn’t seem so funny after 2008. I view it as an
idea to be tested, not trusted, until more is known. If it holds up, it will rank as
another surprise.
The effect of individual wealth on risk tolerance is less understood. Here I judge
more from hunch and impression than from data. Given that human needs are fairly
uniform, as with the private and the general, more wealth gives more insulation
from want. Talent is wealth in human capital, and gives the same. Less, in either
factor, gives less margin for error. My hunch and impression is that the wealthier in
either factor should tend to be more risk tolerant so long as human capital itself is
not put in harm’s way. Human capital operates physical capital, and gives the means
of recovery. The wealthier, in talent or net worth, should prove the least tempted
toward sky diving and Russian roulette.
Chapter 2: Fast Forward 1/06/16 26
In this book I will usually be modeling risk and return at the collective scale or at the
cohort one. A cohort means the set of all same-aged individuals. It turns out that the
ratio of females to males tends to rise with each older cohort, for reasons Bob
Trivers explains, as does wealth up to a point. But in cohort analysis, both effects
(wealth and sex ratio) are incorporated into effects of cohort age. That will simplify
modeling.
My risk theory is another example of what looks to be surprise and novelty until
shown otherwise. The unusual idea lies in projecting the owner’s time
preference/return rate onto the asset rather than conversely. Thus all the owner’s
assets of both factors are selected or modified to fit her current risk profile. This
would count her liquid securities portfolio, cap weighted, as a single asset. All other
assets are too illiquid for practical rebalancing. We own the assets best suited to our
risk profiles, if for no better reason than that we wouldn’t be the winning bidders
for any others if we wanted them. As our risk profiles evolve with age, we modify or
trade them. We will tend to have anticipated this need, and to have factored
modification or trading costs into our bid price. It turns out that this interpretation
can simplify the math of present value and present cost.
It helps in supporting the pay rule, and explaining age-wage profiles, by rebutting a
hypothesis, sometimes argued, that productivity of human capital might rise with
age. Productivity, rate of return and time preference rate all mean the same. My risk
theory argues that we know a cohort’s risk tolerance from the return to its capweighted
securities portfolio as a whole. All other assets of the same cohort,
including human capital, will tend to agree with it in return. Return to security
portfolios tends to be transparent. It declines with adult cohort age. I infer that
return to human capital does the same.
My risk theory and depreciation theory together add a finishing touch to the pay
rule. The key supporting evidence is age-wage profiles. Depreciation theory offers
solid logic, in the face of apparent contrary data, that pay is all human depreciation
Chapter 2: Fast Forward 1/06/16 27
at the end. Risk theory reinforces that impression by adding that the contribution of
productivity in the form of realized work/human capital actually declines. One
cannot pound too many stakes through the heart of the doctrine that pay
compensates realized work alone.
Next Generation Theory
I also treat rate of return. This combined free growth theory with insights of Petty
in 1662 and William Stanley Jevons in 1871. Petty’s idea was that each generation
passes the baton to the next. Our investment horizon is the generation length. Its
reciprocal, or one over that period, gives our time preference rate. Jevons also saw
time preference as the reciprocal of the period of production, but did not connect
that to the generation length. I adjust Petty’s estimate of the length from his 21
years to 28.5 by allowing for later births as well as firstborns. The reciprocal is 3.5%
per year. I add free growth as an exogenous and unspecified variable.
As with Mill and free growth theory, I have to walk a fine line between crediting
Petty and putting my ideas in his mouth. Petty dictated his books and pamphlets,
and is not always clear. My idea, probably but not certainly the same as his, is that
each generation invests everything in the next in trust that it will do the same. All
our capital of both factors, although Petty spoke only of a cornfield, is exhausted in
putting the next generation in place. The time horizon to get this done is the
generation length.
This 28.5 years, as I model it, becomes Jevons’ “period of production”. Its reciprocal,
meaning one over it, gives rate of return. The idea of a period of production whose
reciprocal gave rate of return had begun with Rae in 1934, if you don’t count Petty,
and passed through Nassau Senior to Jevons and Boehm Bawerk. All assumed
growthlessness for simplicity. Return is growth rate plus cash flow rate. It simplifies
to the pure consumption rate at the collective scale. All these men, even Petty, were
really modeling the pure consumption rate. 28.5 years gives the period of
replication, in my view, or period of production if there were no growth.
Chapter 2: Fast Forward 1/06/16 28
Free growth then arrives at its whim, like a deus ex machina, without calling for
more than this steady effort of replication. I find myself focusing more and more on
that cash flow component of rate of return, or pure consumption rate at the
collective scale, as the part we can predict and model.
The generation length is a biological norm which probably has not varied by more
than a factor of two since Ancestral Eve some 200,000 year ago. This suggests that
next generation theory can be tested against data from any period. Meanwhile it
predicts only at the collective scale. Collective return is average risk return. Subtract
collective growth rate to leave cash flow rate. Return and growth are two of the
most closely measured rates in economics. That says that tests of next generation
theory should be practical. I will show tables broadly in support.
Next generation theory is a blockbuster. An explanation of interest and return has
been the Holy Grail of capital theory. Boehm Bawerk contributed a big advance by
revealing return as an artifact of time preference rather than the other way around.
Some including Irving Fisher have seen that beautiful insight as enough.
Not me. What explains and quantifies time preference? What turned out to be
Petty’s idea occurred to me about 40 years ago, when I first took an interest in
evolutionary biology. My friend Alan Rogers, a population geneticist I didn’t know
all the time, was thinking in the same direction. His two published papers on this are
in my appendix. Neither of us knew about Petty’s priority.
The idea would have been a still bigger blockbuster before the wall came down.
Wars were being fought about whether return has any legitimacy at all. Karl Marx,
ironically a champion of Petty, may have missed his argument on that.
Petty’s idea is really the biological imperative I discussed in Chapter 1. The first
priority is survival and reproduction. I will argue that this was implicitly accepted
Chapter 2: Fast Forward 1/06/16 29
throughout economic history until new insights now summarized as the marginalist
revolution began in 1871. The marginalists, mentioned in the forward, swapped the
telescope for the microscope. They left aside the grand teleologies of Smith and
Ricardo and Mill and Marx to refocus on the mechanics of choice. Reasons for tastes
or choices were treated as irrelevant. By 1900 or so, the marginalists had given us
microeconomics much as we know it today. A century would pass before
bioeconomics took form in response to Hamilton’s rule.
Summary
That gives the outline. It is a layman’s view of what a proper economist might not
have attempted. Fools rush in. I will cite sources in economics and biology not to
pretend that I am an authority, but to give real ones a chance to check. My case rests
on the charts and tables. Mill might have been astonished to find that the kind of
growth he described is the only kind to appear in the record.
What makes my book different, aside from my lack of credentials, is the surprises
and the unusual degree of abstraction leading to them. Not many writers try to
follow a chain of inference as far without the comforting touch of the stone and
wood and rope. If Becker had been as venturesome, he might well have solved the
age-wage problem in 1964. I see no other path. Economics is all inside. It is tastes
expressed in choices. Capital is foreseen satisfactions discounted by whatever our
taste for impatience is. Most of it is human capital leaving little market record
beyond its rental cost in pay. Logic is about all we have left.
But the story cannot end in thin air. Few would pay the nuisance cost of so much
abstraction without prospect of surprising and testable prediction. I will try to
deliver that. Mill’s idea is a surprise to politicians, if less so to economists, and could
hardly be tested more thoroughly and successfully. When new ideas are thought up,
Mother Nature says “Shazam” and embodies them at no cost beyond the
depreciation plowback we needed anyway. The data could not be more supportive if
Mill and I had invented them. Even my proposed solution to the age-wage problem,
Chapter 2: Fast Forward 1/06/16 30
which must have seemed hopelessly stuck in subjectivity, paid off finally in that
solution and in a refutation of Piketty’s argument. Risk theory and depreciation
theory, each surprising enough, reinforced that solution and the pay rule. I said
nothing in the this chapter about bank reform because I covered that in Chapter 1.
Predictions of behavior can work because tastes converge to market equilibria.
What stands behind the convergence, I argue, is biology selecting tastes that
maintain and reproduce us. The idea that we act out the biological imperative is
clear in Petty and Malthus, and in the equilibrium wage theory of Adam Smith and
David Ricardo, where pay converges to the level preserving the work force. But if I
say everything about that now, I will have nothing to say later.
Chapter 2: Fast Forward 1/06/16 31
CHAPTER 3: FOUNDATIONS
Historically, foundations and science itself emerge at the end of centuries of
practical application. A logical place for foundations in textbooks is the beginning. So
it was with Halliday and Resnick on physics, which began with Newton’s kinetics
(motion in time and space) and then this three laws. Only in the last chapter did the
authors remind us that Einstein later put two of these three into question, and even
the kinetics. Halliday and Resnick reasoned, correctly I think, that we sometimes
learn more efficiently by learning something slightly wrong first and fixing it later. I
will do that, in a sense, by reasoning first through free growth theory as if the Y = C +
I equation were true, and then again with the two corrections. The sometimes
counterintuitive logic of teaching and learning, including that, is “heuristics”.
Building on explicit axioms was common in economics throughout the classical
period running from Petty in the 17 th century through Mill in the 19th. Then came
the major shift in focus, beginning in 1871, called the marginalist revolution. What
mattered was less our goals, and more the market mechanisms that aligned supply,
demand and price. The meeting point was the margin. Axioms about goals
disappeared, including the usual one of prioritizing survival and reproduction, and
axioms kept were usually left implicit. The implicit ones, essential to marginalism in
my view, included convergent tastes and predictions. I will make those two and
others explicit, and eventually add back the goals.
This book on the whole is about second-guessing what is taught. This chapter is
different. The nearest thing to a surprise in it is the idea that economics needs
explicit foundations in the sense of axioms and basic definitions and equations. All
the ones I choose are well accepted. Why I pick which should seem obvious in
hindsight. But some mini-surprises will accumulate. Why do I take such pains to
prove every feature of what everyone accepts already? Why all the boilerplate and
bulletproofing? I need them because I will later try to shoot down other beliefs
everyone accepts. We must know what is sound to find what is not.
Chapter 3: Foundations 1/11/16 1
Another mini-surprise is the physics-like care in definitions. The reason is that my
arguments later will drive logic pretty far. Logic needs words that are like algeraic
symbols in meaning the same thing all along.
Figuratively and literally, foundations are groundwork. They will be less a chore if
you love logic. And you’d better if you’re going to like the later chapters. Let’s get
started.
Orientation
Economics itself, I think, is a quantitative rationale of choices. Psychology is a sister
study not explicitly quantitative, and accounting for subliminal behavior as well as
deliberate choices. The two fields cooperate and overlap. Economics is quantitative
in that it asks how much as well as what, and focuses on numbers. It is science-like
in that it looks for surprising and testable predictions in the end. It is philosophylike
in that choices are subjective and that the larger factor, human capital, leaves
little market evidence from which to reason upward. Both facts put the burden on
reasoning downward from axioms.
Much of the evidence for both factors, meaning physical and human capital, comes
from the records of literal markets where we rent and hire and buy and sell. Most
economics looked no further until Gary Becker and others expanded the boundaries
about 50 years ago. The expansion made sense. A rationale of choices in literal
markets alone is a silly concept. It is silly to acknowledge only choices that ring cash
registers. We are the same people everywhere. Logic is the same everywhere. We
have little interest in axioms that aren’t the same everywhere. Becker was right to
see choices in marriage and even crime as predictable in terms of supply and
demand and price.
That includes psychic price. Once we follow Becker past literal markets, we accept
psychic value and yield. We must anyhow. Value is in the mind. Economics works as
Chapter 3: Foundations 1/11/16 2
a rationale of choices, hence values, because human nature leads minds to converge.
The literal market adds a measure. When we step outside it, we make do without the
measure and trust logic alone.
A Diamond Ring Parable
I like a picture of a diamond ring to show something about psychic value and yield,
and even about what output and exhaust in consumption are. The ring brings
psychic yield to its wearer. If it didn’t, it would have no value. Its yield is each
psychic satisfaction, and its value sums all time-discounted prospective ones
together. Value therefore drops just a little as each yield is finally realized. It is as
with apples dropping from a tree. Yet the ring is inert. It ostensibly produces
nothing. It also keeps all its value as a ring from day to day. Then where does the
outflow of the value in the exhaust come from? How can value go out if none was
deducted and none produced? In the tree, we can see the apples growing and falling.
The answer is that some value was produced in the ring, and some deducted too.
What we didn’t notice was the constant shortening of remaining discount periods.
As each day passes, each future yield comes one day closer. These are the apples
slowly ripening on the tree. Present value of each rises because the discount period
covers less time. This creation of value is output by definition, even though nothing
has moved but the hands of the clock. As the discount period reaches zero, the
expected yield eventuates to explain the taste satisfaction. These yields are the
apples falling to be eaten. The ring holds its value intact because the exhaust of
value it surrendered has exactly offset the output of replacement value as time alone
shortens discount periods. Yet not an atom stirred.
The whole point is that the value of the ring or anything else is discounted present
value of foreseen satisfactions. They are discounted because there is such a thing as
“time preference”; we value satisfactions now over foreseen ones later. This is not
quite the same as the difference between birds in the hand and birds in the bush.
That says that we value certainties over probabilities. Time preference also values
Chapter 3: Foundations 1/11/16 3
present certainties over future certainties. The reason is studied in a branch of
economics called “capital theory”. My next generation theory, really Petty’s of 1662,
proposes what the average-risk time discount rate is and why. Present value of each
expected instant of future satisfaction grows at that rate as time shortens the
discount period. It disappears, as apples from the tree, when expectation matures
into reality.
This diamond ring parable is full of useful lessons. I think it contains substantially all
of economics. “Consider the lilies of the field.” “They also serve who only stand and
wait.” A chemist would testify that the ring has done nothing. An economist sees
plenty happening. Economics is abstraction. Physical capital is not things, and
human capital is not people. It’s all in the mind. What an economist sees is present
value evolving with time as expectations ripen and eventuate. Output is not what we
do, although it has to do with what we do. It is the passage of time. Exhaust is the
fruition of time and the harvest reaped.
Only when we allow psychic values can we say that all behavior is economic
behavior. It is choices among alternatives. That’s what makes economics philosophy.
Axioms
Then what should its axioms be? We would like empirical or real-world certainties. I
find none beyond Descarte’s cogito. Philosophy is certain of next to nothing. We
settle for working assumptions. We want ones as safe and few as possible. Those of
economics have usually been left implicit since the marginalist revolution. I dropped
the course because I felt their need. It should do no harm, at this point, to risk the
opposite extreme. Let’s try putting everything on the table.
My first axiom, in that spirit, will be unguided natural causality. This need not alarm
the devout. It is the working assumption of all science. Working assumptions are
not creeds. I cannot rule out the possibility of occasional or even continuous
intervention by God to explain what we see. But we know to act as if we ruled it out
Chapter 3: Foundations 1/11/16 4
when our science hats are on. Even philosophy, in the Western tradition, leaves
revelation aside. A practical consideration is that debates of how God is likely to be
motivated to intercede have tended to find little consensus or traction. Science gets
some.
I tipped my hand on my own views in Chapter 1. As chairman of the Leakey
Foundation for more than 40 years, I pretty clearly buy evolution theory and
unguided natural casualty as working assumptions. But I invite those who don’t to
read further before deciding that we will disagree on conclusions. If I foresaw a
conflict with the devout, which I don’t, I would feel obligated to warn them now. I’ll
bring this up again as we go along.
My next few axioms, lumped together, are a mortal and reproducing population
which competes, cooperates and freelances to act on convergent predictions. It acts
to satisfy convergent tastes in a world of limited resources. I will model the
population as human, although other species would do insofar as my axioms hold
for them. “Convergent” means non-identical from individual to individual or place to
place or moment to moment, but converging to norms with increasing scale in space
and time. Predictions converge to outcomes as well as to one another.
The point is that tastes and predictions must be convergent enough for markets to
form and hold. A market, as Becker knew, is where anyone makes any choice among
alternatives. A literal market is where a choice leaves a quantitative record. Markets
cannot form and hold if we cannot predict where to find them and what they supply
and when they are open. They cannot form and hold without some consensus that
what we predict they will offer includes something we want. Clothing stores can
work because our sizes and shapes fall mostly within standard ranges. Their
business would be in trouble if we did not agree in number and rough placement of
arms and legs and head. Restaurants can work because we can find what we want
on a finite menu. Most crucially, clothing stores and restaurants cannot hold unless
there is consensus on what their wares are worth in return. All this convergence
Chapter 3: Foundations 1/11/16 5
suggests a single species, although the axiom only said population. The ants and the
picnickers can compete for the lunch, but they cannot bargain for it. The bar in Star
Wars is a great gag because it thumbs its nose at this home truth. We converge in
taste for the hilarious.
I will add the biological imperative as a separate axiom later, although much of that
at least may be implicit in the first one of natural causality. We hate unnecessary
axioms, from good Occamite principle, but we hate unsupported inference or
question-begging worse.
I spell out the axiom of mortality and reproduction because I know I’m heading
towards Petty’s insight and next generation theory. Of course we design foundations
to support what we want on top. It seems to me that my axioms mention nothing
about rationality, whatever that might mean, except in the sense of assumed
convergence of predictions to outcomes. And that assumption itself might not be
critical. What seems critical that is the predictions should converge to a known
function of outcomes. If they converge to something predictably overoptimistic or
overpessimistic, we’re still in business. Lacking even that, economic science is
stillborn. We can’t predict chaos.
That’s an example of the principle that axioms need not be strictly true. They must
be true enough. We’re still in business if God intervenes a little here and there. Much
more than that, and the convergent prediction axiom runs into the problem of
predicting the mind of God.
The two convergence axioms, of tastes and predictions, are implicit in all
microeconomics. “Micro”, as economists call it, is about supply meeting demand at
price equilibrium. This insight was the main theme of the marginalist revolution. It’s
exactly what can’t happen without convergent tastes and predictions. It’s exactly
why the bar in Star Wars is a hoot. Ants find price equilibria in ant markets, and
people in people markets. Ants and people find no meeting of the minds. Then if
Chapter 3: Foundations 1/11/16 6
macroeconomics (“macro”) rests on micro, the convergence axioms say only what
economics has accepted implicitly since micro began. The “law of one price”,
meaning market equilibrium, actually begins a century and a half earlier with
Cantillon. But Jevons, in co-founding the marginalist revolution in 1871, effectively
made it an axiom.
I don’t want to seem to claim that the convergence axioms are safe because they are
accepted. Arguments ad majoritatem or ad auctoritatem prove nothing. But markets
do seem to form and hold, and the convergences seem implied. Authority and
majority are sometimes right.
Not all economists have agreed. There have been “historicists” and
“institutionalists” who mistrust the idea of convergent tastes, and prefer to see
idiosyncratic national tradition or power groups or mindsets as the prime movers in
place of uniform human nature. Heinrich Schmoller, a historicist who stressed
national differences, tangled with Carl Menger, an independent co-founder of the
marginalist revolution in 1871, in a childish feud for which Menger was at least as
much to blame. If you must answer your critics, be gracious. Thorstein Veblen, an
institutionalist from Wisconsin, coined the term “neoclassicism” for what we now
call marginalism. He made fun of it for missing the role of institutions in driving
economies for institutional or collective goals rather than individual human ones.
I think there’s something there. My main theme in this book is growth theory at the
collective scale. I argue that collective growth flourishes where laws and practices
and cultures nurture and protect it. These are national institutions. New ideas, by
definition, are opposite from the fungible commodities for which supply and
demand meet at price equilibria. Somehow they come. Dogs bark, cats climb, people
innovate. I’m with Menger and Jevons and the marginalists and human nature, but
with asterisks there too. There is plenty left for historicists and institutionalists to
help explain.
Chapter 3: Foundations 1/11/16 7
Vocabulary and Catechism
The words microeconomics and macroeconomics, by the way, didn’t exist until
Ragnar Frisch coined them in the 1920s. We use terms retrospectively to describe
old arguments in language familiar now. That segues into the next steps in the
foundations. What should be the basic vocabulary and catechism, meaning basic
logic, in terms understood today?
Consideration of purpose always comes first. The purpose of economics is
prediction. We happen to know that one of the most powerful predictors of
economic behavior is maximization of risk-adjusted return. This was Robert
Turgot’s insight of 1766, although he left the risk variable unsaid. (His real first
name was somehow Anne, so we’ll go with the second). He wrote that return
equilibrates across markets as investors leave low-return businesses to crowd into
higher-return ones. The shift bids up capital denominators in the higher-return
businesses, and conversely, until return converges. It was David Ricardo, in 1817
who added that the convergence is more exactly for businesses judged equal in risk.
The evidence is everywhere we look. I call this the maximand rule: all behavior
maximizes perceived risk-adjusted rate of return. I’ll show its proof below. That
means all behavior in all markets, and markets are where any choice among
alternatives is made. Return means ratio of (net) output to capital generating it.
Then the vocabulary wanted might as well include capital and output.
But what is capital? Economics is choices, and the measure is price or value. Price
can’t be measured exactly outside literal markets, which is why economists follow
those markets, but is measured in principle by what we give up in exchange. The
price of any capital, even human capital, is given by the present value rule as timediscounted
cash flow. Then cash flow and its positive and negative components
belong to the basic vocabulary, while the present value and maximand rules both
belong in the catechism. Output is total return, so the total return truism belongs in
the catechism too.
Chapter 3: Foundations 1/11/16 8
What other basic terms do we need? Cash flow at the collective scale, where
transfers cancel internally, and there is no source of investment from outside,
simplifies to exhaust of value in taste satisfaction. There is no negative component
because there is no external source of new investment. Tradition through most of
economic history has called this exhaust consumption. Schultz recognized some
consumption as investment in human capital, I said earlier, and limited the exhaust
to “pure consumption”. I will use this and the term “exhaust” interchangeably. Then
transfer, consumption, exhaust and pure consumption belong in the vocabulary too.
So does “invested consumption”, my restatement of Schultz’ “pure investment” in
human capital.
This seems to be the right track. The object is prediction of behavior. The maximand
rule predicts all behavior, and I have sought to build a vocabulary and catechism to
clarify its terms. The right vocabulary, thank gosh, is mostly the one we have all used
since Adam Smith or even Petty. It has needed only a little tweaking and
clarification, as to the two kinds of capital and consumption for example.
There is a “fundamental theorem” of calculus showing how differentials and
integrals fit together. Its proof takes a lot of thought. There is a simpler one for
algebra. Might a fundamental theorem of economics be helpful? Obvious candidates
would include the maximand rule predicting all behavior, the total return truism
explaining the output numerator of the maximand (rate of return), and the present
value rule explaining the capital denominator. For years I chose the maximand rule
as the fundamental theorem. Then I preferred the present value rule as more
fundamental since it explained the denominator. But so would be the total return
truism in explaining the numerator. Now I opt for the judgment of Paris. Let the
three together be the fundamental theorems of economics. The maximand rule is
the centerpiece, and the other two define its terms. All three together are much
easier to follow, mercifully, then the one of calculus.
Chapter 3: Foundations 1/11/16 9
The vocabulary can also include the standard distinction among stocks, flows and
rates. These are only definitions, not assumptions. Stocks means value measured in
money units, say dollars. This is not the same as stock in the sense of equity
securities, although those can be examples. Flows means processes such as output
for consumption measured in dollars per unit time. Flows are to stocks as verbs to
nouns. Percent rates are flows divided by stocks, as rate of return or growth rate,
and are measured in pure numbers over time such as 5% per year.
Now for the fundamental theorems. Take the present value rule first. It starts from
the axiom that we satisfy convergent tastes in the light of convergent predictions. In
a simple case, we foresee that an asset (stock) is likely to yield a certain amount of
taste satisfaction flow at a certain future time. We discount that expected amount at
a time preference or time discount rate given by our taste for impatience, tempered
by our taste for risk avoidance, to find its present value. Present value of the whole
asset is the sum of present values of all the expected future satisfactions together.
A more general case allows for transfers. The future events we foresee and discount
are not always exhaust in taste satisfaction by ourselves at the time. Some might be
foreseen liquidations to reinvest in other assets or to give away so that we or the
donee can realize the taste satisfaction later. Either reinvestment or gift is called
transfer. I call it “transfer out”, meaning out from the generating asset. Then
transfer out = reinvestment + gift. (3.1)
There can also be transfer in. Sometimes future realizations, in taste satisfaction or
transfer out, are not explained as production by the asset as it is now. The asset
might grow later by new investment from outside, and the investment in between
might help explain the later yield. If an eighth-grader is destined to become a doctor,
for example, her foreseen earnings as a doctor will presuppose investment in high
school and college and med school in between.
Chapter 3: Foundations 1/11/16 10
The expected future flow we discount to present value, allowing for transfers too, is
exhaust plus transfer out less transfer in. This net difference is called cash flow. That
is,
cash flow = exhaust + transfer out – transfer in. (3.2)
That’s the logic behind the present value rule interpreting capital as discounted cash
flow.
Human cash flow may not be defined in those words anywhere but in this book. But
the flow discounted to find human capital is understood everywhere, I think, as pay
less what Schultz called pure investment and I call invested consumption. I
defended this idea in my analogy between human capital and the firm. Thus I
endorse the tradition that human capital is pay less invested consumption
discounted to present value. That is,
human cash flow = pay – invested consumption.
It turns out that this is not logical certitude, or an inference from axioms already
given, and so it is not strictly part of the foundations. I will defend it in later
chapters.
The great convenience of the present value rule and its application to human capital
is that it allows the factors to be added as a dollar sum. That helps in understanding
the total return rule.
That rule begins with the truism that growth of anything is internal creation plus
flow passed in less flow passed out. That shows as
growth = creation + flow passed out – flow passed in. (3.3)
Chapter 3: Foundations 1/11/16 11
Algebra now allows
creation = growth + flow passed out – flow passed in,
(3.3a)
since terms can change sides if they reverse signs.
Economics is interested in creation and growth of value. Value in the stock sense
means capital in general. Most economists most of the time use the word to mean
only the “physical capital” we buy and sell. But the truism works for anything. I
sometimes prefer the generality of “value”, meaning any amount of any mix of
human and physical capital. This again can be called either “total capital” or value
interchangeably.
Flow of value passed out is exhaust plus transfer out, and flow passed in is transfer
in. Creation of value is output in the net sense. Then (3.2) and (3.3a) give the total
return rule
output = growth + cash flow.
(3.3b)
“Income” means rights to output, and is implicitly equal to output. Like most writers
in economics, I will use these words more or less interchangeably too.
Now comes the centerpiece. A good starting point is the present value rule. We
assemble value or total capital to satisfy foreseen tastes. But we also satisfy current
tastes by spending current cash flow. At the scale of the total capital (value) of the
individual, were reinvestment cancels internally, cash flow simplifies to exhaust in
taste satisfaction plus gift given less gift received. Then
individual cash flow = net gift + exhaust, (3.4)
where net gift means gift given less gift received.
Chapter 3: Foundations 1/11/16 12
Consider net gift. Its negative component, gift received, is concurrently added either
into total capital growth or into exhaust. Thus it is the contribution to those two
desiderata explained from outside, rather than by the individual’s behavior. Net gift
deducts that negative component (gift received) from the positive one to leave the
part which the individual’s behavior explains. Thus individual output, as the sum of
growth and net gift, is the sum of desiderata realized by behavior. That makes it the
unique behavioral maximand as a flow. Division by the individual’s total capital,
which is her whole means of behavior, gives total capital rate of return as the rate
maximand.
This can be summarized in a slightly different way. Cash flow measures the means of
taste satisfaction now. Total capital growth measures gain in means of expected
satisfactions, discounted according to our taste for impatience (time preference)
tempered by our taste for risk aversion. Output is their sum. Behavior reveals and
maximizes the taste satisfaction including provision for future satisfaction.
Therefore risk-adjusted output is the flow maximand. Capital of both factors, at
present value, is defined as the whole means of that satisfaction, and implicitly of
behavior. Therefore risk-adjusted return, the ratio of the flow maximand to its
means, is the rate maximand.
What Turgot said in 1766, in his Reflections, was
“. . . as soon as the profits of one employment of money. . . increase or
diminish, capitals turn in that direction. . . or withdraw and turn to other
employments. . . Whatever the manner in which money is employed, its
product cannot increase or diminish without all the other employments
experiencing a proportionate increase or diminution.”
Turgot did not allow for risk in this quick summary, but otherwise explained the
mechanics that tend to equalize return.
Chapter 3: Foundations 1/11/16 13
The rule does not say that risk-adjusted return tends to hold constant over time. To
the contrary. Return equals growth plus cash flow, and my charts show the growth
component as a bucking bronco. The maximand rule says only that risk-adjusted
return is always the maximand. It is not always the same as time changes
circumstances. Proof is in Turgot’s equalization of return at each moment, not from
one moment to the next. That is what we see wherever we look.
There is a quibble worth attention. Behavior seldom expresses taste exactly. We say
one word when we mean another. We reach for the coffee, and accidentally spill it.
That was the point of my axiom that predictions converge to outcomes, as well as to
one another, only on average. Outcomes are generally a little better or a little worse
than predicted. There can even be systematic bias where all people together seem
overoptimistic or overpessimistic accordingly to circumstances, as shown in the
psychological economics of Hanneman and Tversky. The axiom requires that these
biases offset over scale and time. That sounds plausible, and anyhow makes analysis
easier.
The maximand rule would be ridiculous if terms were defined in a literal market
context only. Markets must be defined as wherever any choice is made. It would be
ridiculous if cash flow were understood to presuppose literal cash, or even the
necessity of some quid pro quo to explain motivations. Unreciprocated gift down the
generations drives lineage survival.
All behavior means all behavior. The miser maximizes the growth component in
return, the parent or philanthropist maximizes the net gift component, and the
good-time Charlie maximizes exhaust.
Have I gone too far in this claim? Try to imagine an exception. What kind of behavior
might not maximize perceived risk-adjusted return? What if I jump out the window?
Deliberately drive my car into a tree? Sell a cow for a handful of beans? Maximize a
Chapter 3: Foundations 1/11/16 14
pile of nuclear waste in my safe instead of cash and securities? Drive a truck filled
with dynamite into a crowd of unbelievers? Write a book on economics when I have
no credentials? Sing when I have an atrocious voice? All express my tastes. There is
no escape. Behavior reveals taste satisfaction in the broad sense including provision
for future satisfactions.
Tastes, Aims and Ends
I usually mean the word “tastes” as objectives whose satisfaction exhausts capital
value. By that usage, as we just saw, the truism that behavior reveals tastes must be
interpreted carefully. We see current taste satisfaction at mealtimes. Between meals,
we mostly see buildup of capital to satisfy tastes in future. And we sometimes are
motivated to give capital away, as in raising the generation to succeed us. I
sometimes use the term “aims” to mean the sum of this exhaust plus gift plus
buildup. Then to say that output realizes growth plus cash flow is to say that it
realizes aims. All behavior reveals and maximizes aims explained by ends. This
again puts the maximand rule in a different way.
As capital of both factors is our whole means of behavior, and as it is present value
of foreseen taste satisfaction and nothing else, we might first suppose that taste
satisfaction is our unique final goal. But that too could mislead. Biology shapes our
tastes, and shapes them to replicate the generations. I treat the biological imperative
as the “ends” driving tastes and aims. Our two complementary ends are adult
survival and replication of both factors for survival of the young. This idea underlies
next generation theory.
What we maximize is risk-adjusted present value of current plus foreseen taste
satisfactions by ourselves plus donees. Current taste satisfaction or exhaust by
ourselves is counted at full value, and foreseen ones are added at a time discount.
Transfer is part of the mechanics. The exhaust plus growth plus gift are the aims, in
whatever proportion we like, and our subliminal deeper motive of lineage survival
is the ends.
Chapter 3: Foundations 1/11/16 15
Subjective Certitude
Tautologies or truisms are logical certitudes. My three fundamental theorems are
cases in point. The total return truism is a classical example. Since growth is
creation less net outflow, creation is growth plus net outflow. This gives unqualified
certitude to the doctrine that output, or creation of value, is growth of value plus
cash flow (net outflow of value).
The other two fundamental theorems are certitudes in a subjective sense. What they
predict infallibly is intentions. The present value rule must give capital value as we
see it individually. Only under the convergence axioms does it predict observed
market equilibria. The same is true of the maximand rule. This rested on the same
axioms and the one that a population acts to satisfy tastes (in the sense of aims).
There are schools of thought, including Popperians and deconstructionists, which
disapprove of logical certitude on grounds not clear to me. They are wrong. A rose is
a rose. Nor are all examples as inane as that one from Gertrude Stein. All of math is
derived as logical certitude. Its proof comes from analysis, not experiment. Proof of
Fermat’s last theorem eluded some of the finest minds in the world for three
centuries until Andrew Wiles published the solution in 1995. Philosophy is precisely
a search for hidden truisms or tautologies. Economics is philosophy when it does
the same. The pay rule shows that their inferences can be startling. Age-wage
profiles are technically illustration, not proof, of the proposition that human
depreciation is expected to be recovered in pay. That follows from definitions and
needs no evidence in proof.
The pay rule is not wholly logical certitude because it also proposes that
maintenance consumption is not recovered in pay. Rather I argue that from the
biological imperative: maintenance is exhausted in satisfying our taste for adult
survival. The fact that few can have doubted this since the physiocrats has nothing
to do with proof. The shock, anyhow, is in the expected recovery of human
Chapter 3: Foundations 1/11/16 16
depreciation. This opened a can worms. It contradicts the Y = C + I equation, and the
related belief that output equals profit plus pay. I will try to track down some of the
worms, as I promised, and release new ones in the process if I must.
This book will continue to hunt for certitude, absolute when possible and subjective
otherwise. If the convergence axioms are trustworthy, behavior will reveal aims
well enough.
Output Exhaust
I define output as creation of value, and equivalently of capital. Does this overlook
the possibility that output might also create taste-satisfying pure consumption
directly, without passing through a capital phase first?
Such a thing is possible in math, but not in economics. Since capital is foreseen
eventual exhaust, exhaust not drawn from capital in place would be implicitly
unforeseen. This is the flip side of the deadweight loss rule. Economics is a rationale
of choices, and neglects unforeseen taste satisfaction as unable to influences choices.
Those unforeseen and hence costless satisfactions are called “free goods”, and
ignored as outside the economic purview. They why not ignore free growth too?
Growth is roughly foreseen and factored into choices, for one thing, even if I am the
first since Mill to foresee it as free. For another, even unforeseen events are of
economic interest if they affect means or choices after. Free growth does. Costless
satisfactions leave no trace.
Note in any case that the total return truism (3.2) through (3.3b) does not depend
on this inference. Those equations describe creation of value, not necessarily of
capital alone. Output exhaust would be added both to output and to exhaust, and
would disappear in their difference.
Chapter 3: Foundations 1/11/16 17
Basic Glossary
I use standard terms when I can find them, and coin new ones like “aims” and “ends”
when I can’t. But even standard ones are ambiguous. The vocabulary of economics is
not settled. Look up “capital” or “output” or “cash flow”, for example, in any
economic dictionary. It will show ranges of meanings, and appreciably different
ones from one dictionary to the next. I coped by defining as I went along, and would
have had to do the same even if this book were meant for economists only.
Otherwise the ambiguities would have left loopholes.
Definitions include:
Aims:
Capital:
Cash flow:
Ends:
Exhaust:
Flow:
Human capital:
Income:
Invested consumption:
Maximand rule:
Net transfer:
Intention to maximize the sum of current taste
satisfactions plus gift, plus growth in means of future
satisfactions and gift.
Means of aims; human plus physical capital; present
value of expected cash flows.
Capital passed out, in transfer or exhaust, less capital
inserted from outside.
Rationale of aims; biological imperative.
Termination of capital in taste satisfaction.
Any process measured in capital per unit time.
Present value of skill sets; capital whose outside
operating cost is exhausted in taste satisfaction; present
value of pay less invested consumption; present cost of
past invested consumption less pay.
Rights to output; equal to output.
Transfer into value of human capital.
All behavior is maximization of perceived risk-adjusted
output and return as a flow and a rate respectively.
Transfer out less transfer in.
Chapter 3: Foundations 1/11/16 18
Output:
Physical capital:
Present value rule:
Profit:
Pure consumption:
Rate:
Stock:
Tastes:
Total return rule (or total
return truism):
Transfer in:
Creation of wealth, or equivalently of capital of either
factor.
Capital whose outside operating cost does not satisfy
tastes.
Capital of either value is expected cash flow discounted
at our time preference rate.
Output of physical capital.
Same as exhaust.
Quantity measured as a flow over a stock, and
equivalently as a pure number over time.
Quantity measured in dollars alone. Same as capital.
Intentions whose satisfaction terminates capital in
exhaust.
Output equals capital growth plus cash flow.
Value inserted from outside. Same as new investment
from outside.
Transfer out:
Wage:
Work:
Value passed out and recovered fully in other assets
rather than exhausted.
Same as pay.
Output of human capital.
Summary
When I first thought these foundations through, maybe 25 years ago, I was just as
happy to see that they held so little originality. The vocabulary is about the same as
in Adam Smith, and the three fundamental theorems are well accepted. Any
composer knows that originality should be incidental. Our music says what we think
Chapter 3: Foundations 1/11/16 19
needs saying. If it does, that tends to mean that it is new to the current conversation.
It need not be new to the world.
All three fundamental theorems are part of the daily conversation of investors and
finance economists. They are not much on the screens of microeconomists and
macroeconomists. There may have been some originality in spelling out the implicit
axioms behind them, and in generalizing them into all capital including human
capital if we trust those axioms.
One of the mini-surprises was that gift appeared in my very first equation. Cash flow
at the scale of the total capital of the individual, where reinvestment cancels out,
simplifies to gift and exhaust alone. Obvious in hindsight, but surprising if we have
been taught that economics is all about numero uno. I think it is about adults giving
to the young to keep the generations turning.
That sets the theme of this book. Old ideas will find unfamiliar combinations and
applications. Those are originality enough. But so many little stretches of the tried
and true can be hard to track.
Economics needs a special and counterintuitive mindset. The guiding principle is the
analysis of the diamond ring. Economics means taking our minds off the physical
substrate. That goes to the corners of our eyes, not the focus. Capital is not people
and things. It is present value of foreseen cash flows. Output is the ripening of these
foreseen flows with time, and exhaust is the harvest eventually reaped. Economics
takes us through the looking glass to a place the same but different.
Chapter 3: Foundations 1/11/16 20
CHAPTER 4: MILL’S IDEA
Mill’s Paragraph
It always seemed obvious to me that growth is free. Survival costs investment in the
next generation, but growth costs nothing more. It seemed to me that innovation is
the human specialty, that we pay its cost every day as the cost of being human, and
that growth happens when genius or circumstance somehow gives it traction. I
spent most of my life assuming that all economists, but not politicians, thought the
same. I since learned that economists, following Solow, teach something close but
different. So I guessed that I had hit on something new.
I hadn’t. We read economic history to learn that our ideas are seldom original.
Thomas Malthus, contradicting his friend and rival David Ricardo, wrote something
like my or Mill’s free growth theory in 1820. Chapter 7 of his Principles 1 says this in
several ways. One example is
“When we have attained…increased and steady profits, we may then begin to
accumulate, and our accumulation will then be effectual. But if, instead of
saving from increased profits, we save from diminished expenditure; if, at the
very time that supply of commodities compared with the demand for them,
clearly admonishes us that the proportion of capital to revenue is already too
great, we go on saving to add still further of our capital, all general principles
concur in showing that we must of necessity be aggravating instead of
alleviating our distresses.”
John Rae renewed this theme in 1834. Book 1, Chapter 10 of his New Principles 2
includes
“If an improvement, for instance, in the art of baking bread were effected, by
which, with half the labor and fuel, equally good bread could be produced, it
would not benefit the bakers exclusively, but would be felt equally over the
whole society. The bakers would have a small additional profit, the whole
society would have bread for the product of somewhat less labor, and all who
1 Principles of Political Economy Considered with a View to their Practical Applications
2 Statement of some New Principles on the Subject of Political Economy
Chapter 4 Mill’s Idea 1/11/16 1
consumed bread, that is, every member of society, would from the same
outlay have somewhat larger returns. The whole series of instruments
owned by the society would be somewhat more productive, and would be
carried to an order of quicker returns.”
The clearest expression, and probably clearest even today, came from Mill in 1848.
He put it that output growth can precede and explain capital growth as well as the
reverse. Crediting Rae, he wrote:
There are other cases in which the term saving, with the associations usually
belonging to it, does not exactly fit the operation by which capital is
increased. If it were said, for instance, that the only way to accelerate the
increase of capital is by increase of saving, the idea would probably be
suggested of greater abstinence, and increased privation. But it is obvious
that whatever increases the productive power of labor creates an additional
fund to make savings from, and enables capital to be enlarged not only
without additional privation, but concurrently with an increase of personal
consumption. Nevertheless, there is here an increase of saving, in the
scientific sense. Though there is more consumed, there is also more spared.
There is a greater excess of production over consumption. It is consistent
with correctness to call this a greater saving. Though the term is not
unobjectionable, there is no other which is not liable to as great objections.
To consume less than is produced, is saving; and that is the process by which
capital is increased; not necessarily by consuming less, absolutely. We must
not allow ourselves to be so much the slaves of words, as to be unable to use
the word saving in this sense, without being in danger of forgetting that to
increase capital there is another way besides consuming less, namely, to
produce more.
The words “accelerate” and “concurrently” show that Mill understood calculus. His
autobiography says that he hadn’t really learned it from his father James, who had
bought a book and was trying to teach himself and the 13-year old son at the same
time. The son studied it in his later teens at school in France. He like me was writing
for everyone, and preferred to keep explicit math off the page. But the quote
reminds us that the only alternative in economics is implicit math in sentence form.
The paragraph implies the Y = C + I equation: output equals consumption plus
investment. I go a tad farther, starting one chapter ago, by offsetting my word
equations from the running text. These show equal signs and plus and minus and
Chapter 4 Mill’s Idea 1/11/16 2
division and multiplication signs, rather than keeping them inside the paragraph
and writing out such words as “equals” and “plus”. These word equations are
usually easy enough to read. My appendix will cover them and more in notation.
Mill’s equation may be as old as economics, although I haven’t found it put explicitly
before Keynes wrote it in his General Theory 1936. It is now foundational to national
accounts and macroeconomics (the art of balancing full employment with price
stability). I showed why I agree only if we add a couple of imaginary asterisks. We
have to mean total capital growth and pure consumption. Mill and tradition have
meant physical capital and all consumption.
That leaves me with something like the heuristic problem of Halliday and Resnick.
They started with Newton as something familiar and accessible and commonsensical.
I will follow suit. I will reason as if Mill’s equation were right. My own
argument is exactly the same if we remember the hidden asterisks. That saves us all
the trouble of going through it twice. Chapter 4 will restate it in terms of total
including human capital just to make sure.
It is an unsettling argument either way. It unsettled Solow. Chapter 2 showed why.
We are probably more comfortable to think of income as something known which
we can slice into consumption and saving slices as we like. Less of one would mean
that much more of the other. That would put us in charge. We can always consume
less by will power. If less consumption meant more growth, we could grow at will.
Keynes showed otherwise by invoking the old paradox of thrift. If everyone put
money in vaults instead of consuming, consumption would go down while money
piled up. But the added money would find less output to buy with it, as nothing new
was created to compensate for the drop in consumption. The value of the piled-up
money would vanish in inflation. Saving would equal investment in the end because
both disappeared. The Y = C + I equation shows the math. It say that less
Chapter 4 Mill’s Idea 1/11/16 3
consumption C means either more investment I or less output Y. It doesn’t say
which happens.
Investment, for Keynes, meant creation of new productive assets. He was right in
seeing that as the goal. But his analysis leaves too much outside. What I miss is a
variable for investment quality. Investments in new productive assets in 1929 or
2008 yielded negative return. Money in vaults did better.
I prefer an approach which takes our minds off the ultimate goal in new productive
assets. I drop all distinctions between saving and investment. Either word means
the other. What matters is its intended and realized return. That is the missing
quality variable. Notice that I don’t have to specify “risk-adjusted” return because
Keynes and I are describing only at the collective (national) scale. Risk of all
investments collectively is average risk. This can be implicit whenever I describe at
the collective scale.
Keynes’ analysis and equations appear in his General Theory. He was addressing the
world depression. A theme was that households do most saving, while businesses do
most investing. Banks collected the saving and made it available for business to
borrow and invest. But business lacked the “animal spirits” to take such a risk in a
slump. We saw the same story after 2008. Keynes’ proposal was for government to
do the borrowing and investing instead. That’s part of the “fiscal policy” I described
in Chapter 1. Here we tend to agree. That would explain his sense of urgency as to
new productive capital as the most direct way to put idle plant and workers back to
work.
I prefer to suspend judgment on what is a new productive asset and what isn’t. I
think my way of putting things is both simpler and subtler than Keynes’, although at
sacrifice of his explicit focus. Saving and investment, in my language, are the same
from the start. The maximand is return. Consumption foregone will translate into
Chapter 4 Mill’s Idea 1/11/16 4
capital growth insofar as rate of return actually realized matches the current norm.
Less return makes less growth than consumption sacrificed, and more makes more.
But collective return can be a surprise. Boom years and bust years arrive unforeseen.
The cost of investment in consumption given up, whether individually or collectively,
never agrees exactly with what it proves to be worth at market. Gunnar Myrdal, in
1939, coined the terms ex ante for the first and ex post for the second. The bucking
bronco describes the ex post picture overall.
Ex ante (at cost) and ex post (at market) investment agree when market-realized
return holds unchanged. Lower return means that ex post outcomes fell short of ex
ante cost and expectations. Higher return means the reverse. That gives the context
of Mill’s idea. And he clearly isn’t talking about growing or declining by random luck.
His prime mover is “whatever increase the productive power of labor.” He knew
that this meant innovative ideas. Can we dial them in as we like? All he says is that
they need cost nothing in consumption missed. Then how might that work?
Gross and Net Investment
Keynes, accepting the Y = I + C equation, defined saving S as gross income less
consumption C. I draw the impression that he implicitly defined output as creation
of economic value. So do I. He defined gross investment I as gross output less
consumption. Gross in both cases meant gross of depreciation. He knew that income
and output are equal, at all scales, since the first means rights to the second, and
gave both the symbol Y as I do. It followed that saving and investment are also
equal. The meaning was that actually realized saving, as distinct from consumption
restraint in hopes of saving, had to be realized in investment. This is the home truth
which I accept but prefer to rephrase.
I have traced Keynes’ argument and language on these points because I think it is
now generally accepted by Keynesian and anti-Keynesian and neo-Keynesian
schools alike. That’s why I think my own interpretation differs from a general
Chapter 4 Mill’s Idea 1/11/16 5
consensus rather than supports one school over another. I think it is the consensus
view, as well as Keynes’, that his “attempted saving” means gross saving (gross
income less consumption) not invested in new productive assets. That can be
written as
Keynesian attempted saving – transfer payments
= Keynesian net saving = Keynesian net investment,
at any scale.
I accept Keynes’ definition of transfer payments, and I recognize the importance of
his distinction of those from investment in new productive assets which put idle
plant and workers to work. My interpretation, even so, is that it is better to leave
them idle than to put them to work unproductively. Keynes made his opposite view
crystal-clear with his brilliant tongue-in-cheek parable of money buried in
mineshafts and idle workers hired to dig it up. He had a sense of theater as well as a
great mind. And he just might have been right. But I think my way of putting things
encompasses that possibility. His mineshaft scenario works if it somehow
maximizes return in the big picture.
My language differs from Keynes’ in several ways. I prefer Myrdal’s ex ante – ex post
dichotomy, published three years after the General Theory, to Keynes’ equivalent
attempted-realized one. Like Myrdal, and unlike Keynes, I apply it to investment as
well as saving. That’s why I treat them as synonymous. And I prefer to recognize
human capital explicitly. Keynes surely understood the concept. He was the star
pupil of Alfred Marshall’s later teaching career, unless he shared that distinction
with his lifelong personal friend and professional adversary Arthur Pigou, and
Marshall and Pigou both describe human capital in principle. Marshall wrote that he
neglected it as something outside what he saw as the main sequence ending with
consumption. Keynes could have agreed, or could have meant to provide for it
implicitly by defining output as investment plus consumption while realizing that
Chapter 4 Mill’s Idea 1/11/16 6
some consumption is investment in human capital. I said what I think this overlooks
(self-invested work) and what it forgets to exclude (recovered human depreciation).
My own way of putting things mightn’t strictly need the terms investment or saving
except to translate my ideas into the language we all know. That translation is
essential if I hope to be understood. It will first take account of the fact that Keynes
meant investment and saving as to physical capital only, with labor or human capital
to arrive exogenously as an outcome somehow of consumption. That led to the
Y = I + C equation
output = investment + consumption. (4.1)
Gross and net versions of (4.1) meant gross and net of depreciation. Thus
gross output = gross investment + consumption
(4.1a)
and
net output = net investment + consumption.
(4.1b)
In the General Theory, where (4.1) appears in his Chapter 6, (4.1) it means the gross
version unless otherwise specified. I prefer the opposite, and mean the net version
(4.1b) unless otherwise specified.
My ex ante investment corresponds to Keynes’ “intended saving” through
consumption restraint. My “depreciation investment”, or “depreciation plowback”,
means just enough ex ante investment to offset actual depreciation, not book
depreciation, of physical capital. I assume that we intuit roughly how much this is
when I say that optimum ex ante investment is depreciation plowback. Now let’s
consider how that could be true.
Chapter 4 Mill’s Idea 1/11/16 7
Growth Mechanics
Start with simplicity. Imagine a changeless world where people and things replicate
themselves exactly. Chapter 3 showed that in total capital terms including human
capital, although neither Mill nor Keynes used them, depreciation of both factors
together, net of transfers from one to the other, equals exhaust in taste satisfaction.
“Replacement investment,” or “depreciation investment,” is just enough to turn the
generations over as new (net) output makes up the loss to consumption exactly.
Ideas hold unchanged. That wouldn’t be too far from the truth for our million years
as homo erectus, or our millennia after as homo sapiens until some 50,000 years ago,
or our centuries in the dark ages after Rome fell. Most of the new norms we
innovated, although not all, eventually regressed to the old ones.
Next imagine growth of everything at a constant rate. Capital, consumption and
output all grow in constant proportion. Economists now call this “balanced” growth.
Mill had described that possibility in 1844. Balanced growth isn’t driven by
consumption restraint, as consumption never lags. And it isn’t driven by
productivity gain, meaning more output per unit capital, since output grows no
faster. What drives it?
Suppose first that there are still no new ideas. If we are pioneers in a new world or
empty niche, we might be able to increase numbers of exactly the same things and
skill sets until we reach niche limits. Then what would pay for capital growth in that
case? Zeno the Eleatic might insist that depreciation investment is never enough
because it chases a moving target. But depreciation moves just as fast. Identical
capital means identical in depreciation rates. That means the ratio of depreciation
(pure consumption) to capital. The two racers hold neck and neck indefinitely.
Depreciation investment is still enough, just as it was in the growthlessness before.
In balanced growth, as in standing still, it is the only need for of capital replacement.
Now comes a tougher problem. Niches in the real world are typically more or less
full. Here old ideas alone can’t bring growth. David Ricardo, Thomas Malthus and
Chapter 4 Mill’s Idea 1/11/16 8
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
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 at a 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
That still leaves the mystery only half solved. How exogenous (sourced from
outside) are the genius and happenstance? Can we coax them along by policy? That
isn’t really my field. What seems reasonably clear is that growth flourishes in
secular free markets with solid infrastructure and rule of law. How to get those
things is the problem. I will suggest that the answers, whatever they are, will be
developed outside the usual marginalist perspective of supply and demand.
The Free Growth Equations
Now back to Mill’s argument. Notice first that he puts it all in the present tense.
Modern growth economists have preferred what I called the lagged flows method:
spikes in investment are compared to later ones in output. Mill here is substituting
what I called a concurrent rates method: he compares changes in consumption rate
to changes in capital growth rate at the same time. He writes that “whatever
increases the productive power of labor … enables capital to be enlarged …
concurrently with an increase of personal consumption.”
Let’s follow that. Mill’s root assumption is the Y = I + C equation in its net form
(4.1b). Put the ex post version as
output = growth + consumption, (4.2)
meaning net output, growth of physical capital and all consumption. The Y rule says
the same with the hidden asterisks after growth and consumption. So it will
continue for the rest of this discussion. (4.2) shows that less consumption implies
more growth, or less output, or some of both. Mill was asking which. To show how
to find out, first arrange (4.2) as
growth = output – consumption,
(4.2a)
again because terms can change sides if they change signs.
Chapter 4 Mill’s Idea 1/11/16 11
Mill and Keynes and tradition hold (4.2) and (4.2a) as logical certitudes which hold
constant over time. I agree if we imagine the asterisks. Constancy over time would
imply
change in growth = change in output – change in consumption. (4.3)
I take the trouble to derive this as a road I haven’t preferred to follow. I will reason
instead in rates rather than flows. Rates, or ratios of flows to capital, effectively
cancel capital from numerator and denominator. That frees them to show
comparison between smaller and larger economies among the eight I test. Mill’s idea,
or anyhow mine, is that the ratio of consumption to capital in all those countries can
hold constant. That is what the charts and tables show.
To follow that lead, divide (4.2a) by capital. This finds
growth
capital
= output
capital – consumption . (4.4)
capital
That can be put more compactly as
growth rate = capital productivity – consumption rate,
(4.4a)
where rate always means ratio to capital. That needs a caveat because consumption
rate in macro means ratio to output. Capital productivity in this sense is also called
rate of return.
For more compactness still, define
thrift rate = – consumption rate,
allowing (4.4a) to be restated as
Chapter 4 Mill’s Idea 1/11/16 12
growth rate = capital productivity + thrift rate.
(4.4b)
Notice that we must change the sign before “consumption rate” to find thrift. Change
downward in consumption rate is change upward in thrift rate, and conversely.
Further
change in growth rate = change in capital productivity
– change in consumption rate, (4.5)
by the same logic as with (4.3). Save space again by reexpressing (4.5) as
acceleration = productivity gain + thrift gain.
(4.5a)
Finally divide by acceleration to reach
1 =
productivity gain
acceleration
+
thrift gain
acceleration , (4.6)
if acceleration is nonzero. Reexpress as
1 = free growth index + thrift index, (4.6a)
where indexes are undefined if acceleration is zero.
I think this gets at what Mill meant, and anyhow what I mean. We both describe
acceleration as well as growth. One night think that his “whatever increases the
productive power of labor” is the opposite from my “change in capital productivity.”
But they are about the same. Better machines make their operators more productive
whether skills have changed or not.
Chapter 4 Mill’s Idea 1/11/16 13
(4.5) shows something about “balance” or the state where capital, consumption and
output grow at the same rate. It confirms the standard teaching that balance is
possible, although not compelled, when growth rate is constant. It also shows that
balance is impossible when growth rate changes. No one disputes that capital
productivity (output/capital) always leads, and consumption rate
(consumption/capital) always lags, in accelerations up and down. Output gets the
bad news first and the good news first. What the equations leave unspecified is
where capital itself joins the sequence. That is what the evidence in the charts and
tables tells us.
In the case where the free growth index equals one, for example, the above
equations show
thrift index =
thrift gain
acceleration = 0,
implying
– change in consumption rate
thrift gain = change in growth rate = 0, and
change in consumption rate = 0, or equivalently
consumption rate = consumption
capital
= constant, (4.7)
if acceleration is non-zero. (The reason for that qualifier is that zero acceleration
means zero change in growth rate, and division by zero is a no-no.)
In the opposite case where the thrift index is one, the same equations would show
free growth index =
productivity gain
acceleration
=
changein productivty rate
change in growth rate
= 0,
Chapter 4 Mill’s Idea 1/11/16 14
implying
productivity rate = output
capital = constant,
(4.7a)
assuming again that acceleration is nonzero.
This shows how to find the position of capital in the sequence led by output, and
how to test between free growth and thrift theories. The market-valued capital
denominator in (4.7) and (4.7a), and the consumption numerator in (4.7), can be
taken directly from national accounts data collected at the Piketty-Zucman website.
The output numerator in (4.7a) can be constructed as consumption plus current
change in market-valued capital. By (4.7), free growth theory (Mill’s idea) predicts a
roughly constant consumption/capital ratio, even in accelerations and decelerations
and reversals. Then capital acceleration would lag alongside consumption
acceleration while output led alone. Thrift theory makes the opposite prediction of a
roughly constant output/capital ratio, so that output and capital would lead
together while consumption lagged alone. There is no need to measure and test both
indexes, as either is defined as one less the other. My charts and tables track the free
growth index. They confirm free growth theory in all countries and periods.
Defining Free Growth and Thrift
(4.2) through (4.7a) defined the free growth and thrift indexes, but not free growth
or thrift themselves as flows. Since I will use those terms often, I’d better clear that
up now. Define
free acceleration = productivity gain = gain in rate of return,
thrift acceleration = thrift gain = drop in cash flow rate,
and
so that those sets of terms become interchangeable. Then (4.5a) can be put as
Chapter 4 Mill’s Idea 1/11/16 15
acceleration = free acceleration + thrift acceleration.
(4.5b)
Rates are flows divided by capital expressing them. Then define the two flows as
free growth = capital ∗ free acceleration, and (4.8)
thrift = capital ∗ thrift acceleration, giving (4.9)
growth = free growth + thrift. (4.10)
These equations apply equally in continuous or discrete-period time. In the latter,
they leave the periods of acceleration and growth unspecified. Marginal or current
free growth, as with the speed of a car, is the sum of free accelerations since some
past origin when growth was zero. So it is with current thrift. That need not place
the origin with Ancestral Eve. Surprising as it might seem in the growth age, zero
points appear to recur every few minutes at the longest. Online stock index numbers
reverse direction at least that often. They pass through zero each time. Debt claims
on the corporate sector figure to be less volatile, but equity (stock) ones outweigh
them. Then marginal free growth means accumulated free acceleration, or rise in
rate of return, since the last zero growth point no more than a few minutes ago
when return and cash flow were equal. Growth is free whenever cash flow rate rises
or holds steady.
The Charts and Tables
Mill lacked data to test whether growth tends to lead with output when it changes,
or to lag with consumption, or something else. So did all economists until national
accounts began reporting market-valued capital in 1990 or so, and reconstructing it
backward over a few decades before. The equations through (4.7) show how to test
from data in the Piketty-Zucman and Global Financial Data websites.
First I downloaded the Piketty-Zucman data for market-valued capital and
consumption for all countries and periods. I chose their “private wealth” data for the
Chapter 4 Mill’s Idea 1/11/16 16
former. I neglected “government wealth” net of national debt, which is small and
often negative, as I don’t feel that I understand it well enough. I took consumption as
the sum of personal consumption expenditure (PCE) and government consumption
expenditure (GCE). I also downloaded real stock market rates of growth, dividends
and return from the Global Financial Data website for the same years and countries.
Yearly change in capital in each country gave each year’s capital growth as a flow. I
added this to consumption to give what I call market-valued output. I said earlier
that Piketty and Zucman should logically have done the same. This gave the values
for (4.1) and (4.1a).
I then divided by year-end capital to give values for (4.3). I next found annual
changes in those three to give acceleration, productivity gain and thrift gain as
shown in (4.5) and (4.5a), and divided by acceleration to find the two indexes of
(4.6) and (4.6a).
The test from Global Financial Data took fewer steps. Stock market growth rate, rate
of return and dividend rate were downloaded directly. I took them as corresponding
respectively to growth rate, capital productivity and consumption rate in (3.3a). I
found their annual changes to find values for (3.4a), and again divided by
acceleration to reach (3.5a).
This allows tests of Mill’s idea from national accounts data for all eight nations
reported at the Piketty-Zucman website, and over their entire reporting periods
through 2010. (The website also reports for Spain, but only since 1993 and without
data for consumption.) In each year, for each country, change in capital growth rate
is compared to change in consumption rate (consumption/capital). If consumption
rate grows faster than capital growth rate while both grow, or declines faster if both
decline, the free growth index in that year is greater than one. If they change at the
same rate in the same direction it is one exactly. If both change in the same direction,
but consumption changes less, the free growth index is between zero and one. If
Chapter 4 Mill’s Idea 1/11/16 17
either grows while the other declines, the index is zero or less; zero if one grew as
much as the other declined, and less if the change in capital growth rate was larger
than the opposite one in consumption rate.
Interpreting the Charts and Tables
Now look again at the charts captioned “free growth index” in the appendix. I will
summarize them and all other charts and tables only briefly here, and save most
description for there. They cover all eight countries. Each chart covering free growth
tracks three separate versions of the free growth index labeled !
ϕ(K), !
ϕ(K T
) and
! ϕ(SM). The one I have discussed so far is ! ϕ(K). ! ϕ(K ) is a version including human
T
capital, and !
ϕ(SM)is taken from stock markets only. will be explained in the
! ϕ(K ) T
next chapter.
The powerful spikes both up and down in the free growth charts were described in
Chapter 2. Spikes tend to be explained by the fact that acceleration, the denominator
in both the free growth and the thrift index, is occasionally close to zero. Near-zero
denominators, whether above zero or below, can magnify mismeasurements. Some
charts report the free growth index every year, and show all the spikes. Others filter
out years where denominators fall below a chosen threshold, and spikes disappear
accordingly. Filtration is unbiased in that free growth index is corrected down as
often as up.
What jumps out from all those charts is that all versions of the free growth index ϕ
fluctuate around one. That means that the unshown thrift index fluctuates around
zero. We just saw that the thrift index will show as negative whenever the thrift
numerator and acceleration denominator disagree in sign, meaning that thrift gain
coincided with deceleration (negative acceleration) or conversely. Charts and tables
show that thrift gain, meaning drop in consumption rate, coincides as often with a
lower as a higher capital growth rate. Growth by thrift is a theoretical possibility
Chapter 4 Mill’s Idea 1/11/16 18
which doesn’t actually happen. The means of growth Mill describes in the paragraph
quoted is the only kind that appears in the record.
Evidence from Stock Markets
Market-valued capital, reported in national accounts since 1990 or so and
assembled at the convenient Piketty-Zucman website, is measured by a common
standard in principle. Measurement begins with stock markets. It should. The stock
market is the most exact source of economic information that I know. With due
reservations about connivance and “stale prices,” meaning outdated prices from
earlier days because the stock has not traded since, or anyhow not enough for
confidence, we know pretty well what markets think stocks are worth from tick to
tick.
We would know better if markets were perfectly efficient. Proof that they aren’t
shows in medium-term autocorrelation or trend. Autocorrelation (in price) is
tendency for markets to be up tomorrow if up today, and down if down. Trend is a
shorter word for the same. Perfect efficiency ought to show a “random walk” where
prices change captures all current news, news captures reality without optimistic or
pessimistic bias, and tomorrow’s price direction is as unpredictable as tomorrow’s
news. The only exception should be long-term uptrend with productivity gain
through innovation. In this case it is not surprise in the news that brings growth, but
gradual gain in present value as a foreseen better future is less discounted as it
draws nearer.
There is chicanery as well as inefficiency. Insiders, braving the legal risks, may take
advantage of outsiders. But it is not clear to me that insiders are likelier to be sellers
than buyers. National accounts follow prices of publicly traded shares collectively,
where some chicaneries should offset others.
Allowing for all this, I think national accounts are wise to accept stock prices as the
best measure of underlying assets. Intangibles such as patents or market advantages
Chapter 4 Mill’s Idea 1/11/16 19
are factored into share prices because they are realities that would be valued as
such by bidders for the assets themselves. It is a mistake, I think, to suppose that
shares prices would be less volatile if more descriptive of real value underneath.
The existence of trends suggests the opposite. Trends would be expected from
systematic underreaction to the news, so that reaction catches up later, while
systematic overreaction ought to be followed by adjustment in the opposite
direction. This gradual rather than immediate digestion of the news would tend to
smooth out price response. Trends imply systematic underreaction, not
overreaction. Market evidence shows something near that random walk as a usual
rule, implying neither systematic overreaction nor systematic underreaction, but
with some episodes of the latter. What would the reason be? My first guess would be
something delaying the mechanics of price reaction when news is particularly
surprising. Our sense of where prices should go right now seems not to get them
there until later. Prefect reaction to perfect news ought to mean more price
volatility, not less, from day to day.
Stocks are more volatile then most assets because most are “leveraged.” Firms may
issue bonds, and may borrow shorter-term from banks. Fixed interest on those debt
claims is paid first. Shareholders get the rest of net output, which itself fluctuates
around expected norms and is sometimes negative. If a firm’s net profit (net output)
is one million dollars one year, and one dollar higher the next, net profit will have
varied only one ten thousandth of a percent. But if interest payments take up the
same million dollars per year, every year, profit left for shareholders will have
grown from nothing to one dollar. Its growth rate will have been effectively infinite.
If the firm earns two dollars less the year after, it will have to invade capital to pay
the interest, and owners take a one-dollar loss. Again the difference is trivial
percentage-wise to net profit, but diametric to equity investors. The more fixed debt,
the more surprise and volatility in whatever is left for shareholders. The ratio of
debt to that remainder, called “equity,” is the leverage meant. Stock in this security
sense means the same as shares or equity.
Chapter 4 Mill’s Idea 1/11/16 20
Now I’ll try to pull this together. Stock prices collectively, meaning all shares at
current prices, is called “market cap.” (Cap is capitalization.) Market cap does not
measure the whole underlying value of the issuers, meaning firms that issued the
stock, since there are debt claims that must be paid off first. It measures the equity
residue. It measures that imperfectly because some inefficiency and chicanery are
here to stay. It is more volatile than the debt claims because it is leveraged, but
probably less volatile, given the observed reality of trends showing smoothed-out
reaction of share prices to news over time, than what would be bid for the
underlying assets, including intangibles, subject to the same debt claims that must
be paid off first.
National accounts measure market-valued (physical) capital by beginning with
market cap. They then add the market value of debt claims on the same issuers,
along with equity and debt claims on the rest of the business sector, and then the
same for the housing sector. The sum is “private wealth.” Consumer durables such
as cars and refrigerators are excluded as impractical to price. Government wealth
net of national wealth is tracked separately, and tends to show as slight or negative.
Finding the Free Growth Index for Stock Markets
My concern in this chapter is the stock market as a data source for testing free
growth theory. Here (4.2) would read total return in place of (net) output, while
growth would be in market cap. Consumption in (4.2) would become dividend yield
in the sense net of capital concurrently raised in new stock issues. The Global
Financial Data website summarizes the history of world stock markets from
inception in about 1700 for U.K., about 1800 in U.S., and later elsewhere. A nice
feature of this data source, and most other sources for stock and security
performance, is that market values are shown from the start. This left no need to
correct for the inevitable lags in depreciation accounting, which gets the news only
in purchases or sales.
Chapter 4 Mill’s Idea 1/11/16 21
Global Financial Data reports annual rate of return, growth rate in market cap, and
“imputed dividend rate” as the difference. Dividend rate itself is reported as
something a little different. I made no attempt to get to the bottom of this distinction,
just as I made none to allow for editorial bias in the Piketty-Zucman website. I chose
the imputed version for logical consistency.
This direct information obviates the chain of reasoning from (4.2) to (4.5), and
allows me to jump to the latter. “Productivity gain” in (4.5) is simply annual change
in reported rate of return. Acceleration is annual change in reported market cap
growth rate. (4.6a) defines the free growth index as their ratio. !
ϕ(SM), the green
line, tracks it in the charts. It too fluctuates around the number one. Gains in
dividend rate have coincided as often with gains in market cap growth rate as with
drops.
This seems only to expound what everyone knows. Of course firms are likelier to
raise dividends in years of growth, and cut them in years of decline. I never claimed
that free growth theory does more than state the obvious. What is made obvious by
the data is that a change in total return is the prime mover enabling market cap and
dividend rate to accelerate or decelerate as a pair. What is made obviously wrong
would be a thrift theory casting dividend restraint as the prime mover. Were that so,
market cap acceleration would coincide with lower rather than higher dividend
rates.
This pretty much completes my evidence for free growth theory. I have not found
other promising data sources. One is tantalizingly close to hand. There is not much
reason why corporate bond history is less transparent to the world than corporate
stock history. A qualified expert might reconstruct market caps of both, side by side,
to show a picture of the whole corporate sector. Surely I am not the only person who
would take interest. What is the history of leverage, and of total return, and its
growth and yield components, to debt and equity claims cap-weighted together?
Chapter 4 Mill’s Idea 1/11/16 22
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, I 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
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, I
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 I 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
scale. Instead of redeploying finished goods, we recombine raw materials. We aren’t
creating something from nothing. And growth is not so free that it needs no cost at
all. It still needs depreciation plowback. Net investment would mean any in addition.
The charts and tables, as I read them, show a steady stroke of deprecation plowback
paying for all innovation, embodied or disembodied, that copes as best it can with
good times or bad.
The steady stroke metaphor, showing how cost (the steady stroke) and growth
(against the shoreline) could be desynchronized, explains the possibility of free
growth. It does not explain why the record shows no other kind. My best guess as an
explanation would look to biology. The biological imperative shapes our tastes and
behaviors for lineage survival in some sense of family or population or species.
Other species crowd their niches. They cannot gain by consumption restraint for the
two excellent reasons that there is no consumption to spare and no niche space if
there were.
Ricardo, Malthus and West all warned against rote replication in economies already
developed. We must create means to make more from less. I suspect that we are up
against that wall more or less continually. Innovation pushes the wall back when
genius and happenstance are at their best, and helps us survive the rest of the time.
It costs the same either way. Consumption sacrifice is sacrifice to gods who work
their will heedless of it.
My implication that we have no consumption to spare could mislead. Rather we
have none safe to spend. All creatures hold back reserves against adversity.
Economies usually carry more capital, producing more consumption, than they need
for now. It is a rainy day fund to be drawn down in lean times and built back in
plush ones. Many nations invaded capital to keep up consumption during the world
wars and world depression between, and reversed course since. But we would be
fools to spend it for return over time when the next crisis might come tomorrow.
Chapter 4 Mill’s Idea 1/11/16 25
What exactly do I picture as this capital reserve? Is it vodka distilleries that might be
converted to orange juice plants in a pinch? I don’t really know. Human capital itself
is versatile. Some retirees could unretire, and vodka plant workers might convert
with not much retraining. I will explore some of this idea later.
Harrod’s Knife Edge
Solow’s neoclassical growth model developed from ideas published a decade earlier
by Roy Harrod. Harrod had described a “warranted growth path” given by the pace
of technological innovation. He reasoned correctly that any effort to push
investment faster must soon founder in the diminishing returns foreseen by Malthus,
Ricardo and West in 1815. But how could we get investment exactly right? There
was a critical “knife edge” with little margin for error. He was right to stress the
dangers of overinvestment. I do the same. But free growth theory, and the
overwhelming evidence that it is right, bring a new perspective.
What Solow and other economists teach today , judging from the textbooks I read, is
more or less Harrod without the knife edge. We are taught to figure out the
warranted growth path, meaning the rate of technological growth, and then invest
just enough, ex ante, to exceed depreciation by that margin. But my charts and tables
show that any investment beyond depreciation recovery is deadweight loss. There is
no need to know the warranted growth path because optimum investment is not a
function of whatever it might be. Depreciation investment captures the whole of
technological growth, and further investment adds no more. It is money left on the
table. Optimum ex ante investment, at the collective scale, is depreciation
investment. Ex post results will reveal the warranted growth path.
What about Underinvestment?
One indication in the charts and tables might leave us puzzled. It is easy to
understand the futility of ex ante investment (consumption restraint) beyond
Chapter 4 Mill’s Idea 1/11/16 26
depreciation plowback in light of the diminishing returns described by Ricardo,
Malthus and West two centuries ago. We might crowd our niche, like other
creatures, and leave neither consumption safe to spare nor room for capital
accumulation before diminishing returns set in. But too little investment could seem
a tougher challenge. No thrift at all, meaning not even depreciation plowback, would
mean no growth at all. Then consumption rate would vary inversely as capital
acceleration, just as predicted in in thrift theory. And underinvestment, meaning
plowback of less than current cost depreciation, ought to happen about as often as
overinvestment. If each year of underinvestment tended to fit the predictions of
thrift theory even a little, free growth indexes should average something less than
one in the end. But they don’t. The index varies, but averages more than one as often
as less in every country and period.
The explanation I suggest is already implied in that insight of two centuries ago. Just
as overinvestment and capital glut diminish returns, underinvestment and capital
shortage augment them until supply of capital catches up to demand. Even if there
were no plowback at all in some years, higher returns to capital already in place
would help take up the slack. There would be real danger in sustained
underinvestment or overinvestment. The saving grace is in market forces restoring
equilibrium as investors maximize return.
Summary
This gives the outline of free growth theory. It is my best speculation on how to
make sense of the charts and tables. It follows Mill more or less exactly, and risks
the next step in the bold new direction pointed by Solow.
My prize exhibits are the charts and tables. Better this book should show them alone,
with an explanation of my testing equations and the data sources, than all the rest
without them. They could hardly support free growth theory better than if Mill and I
had rigged them. The consequences are huge. We must get rid of the corporate
double tax ASAP, and raise the corporate tax rate enough to make the overall
Chapter 4 Mill’s Idea 1/11/16 27
adjustment revenue-neutral. That should help get both parties on board. We must
tax capital gains at the same rate as ordinary income. Dividend rates should revert
to the 4% - 6% range typical over the centuries before the pro-investment policies
put in place after World War II. We must do whatever we can to level the
consumption-investment playing field.
Obvious qualifiers are worth spelling out. (4.1) and all consequences are meant to
describe at the collective scale, where growth cannot be explained by transfer. Free
growth theory assumes depreciation investment, not zero investment. My charts
and tables will never be exact. There are inevitably errors and judgment biases in
the national accounts and research assembled by Piketty and Zucman, more added
by them, and more by me. These cautions will apply to later chapters as well.
Chapter 4 Mill’s Idea 1/11/16 28
CHAPTER 5: BRINGING HUMAN CAPITAL IN
Human capital is labor measured as a dollar sum rather than as so much per hour or
year. It treats pay less invested consumption as our cash flow, and finds our present
value (to ourselves) as expected lifetime cash flow discounted by our own time
preference rates, meaning what we would charge for delay. Measurement in this
way usually finds it as something near three fourths of all capital. Physical capital,
much better understood because it can be bought and sold as well as hired, is only
the visible tip of the iceberg. The term human capital itself is touchy because it can
suggest that life has a price. Irving Fisher used it in quotation marks in 1898 1 ,
attributing it to earlier sources I haven’t found, but not in his two great books on the
topic in 1906 2 and 1907 3 . Wikipedia is mistaken in attributing the term to Arthur
Pigou a generation later.
History of the Idea
The concept began with Petty in 1664 4 . He estimated the aggregate pay of English
workers, and divided by the discount rate he had modeled in A Treatise of Taxes two
years earlier. I have not read Verbum Sapienti, but have read two of his later
versions of the same argument 5 .
Petty’s method was criticized by William Farr in 1854 6 , also in a paper I haven’t read,
for neglecting what I call invested consumption. Farr, if I read the right description
of his argument, was both right and wrong. Petty was modeling human capital of
aggregate workers. These were mostly adults, who no longer receive invested
consumption if my model is right. That makes his method sound in principle for
measuring adult human capital separately. It follows that he underestimated the
human capital of England, rather than overestimating it as Farr claimed, by leaving
1 The Nature of Capital.
2 The Nature of Capital and Income.
3 The Rate of Interest.
4 Verbum Sapienti.
5 Political Arithmetic (1676) and A Gross Estimate of the Wealth of England (1685).
6 Vital Statistics.
Chapter 5 Bringing Human Capital In 1/13/16 1
out the human capital of children. But Farr deserves credit for pointing out that
human capital in general capitalizes pay less invested consumption.
Keynes’ teacher Alfred Marshall agreed with Farr in 1990 7 . As I read this passage,
Marshall interpreted maintenance consumption as investment. So did B. F. Kiker 8 in
1968. I interpret it as exhaust in taste satisfaction enabling energy to earn pay
concurrently, while preserving but not increasing pay expectations in future.
Invested consumption would mean addition to human capital concurrently for
expected realization with interest in higher pay later.
Meanwhile economists had developed the complementary idea of human capital as
present cost of investment accumulated before. Adam Smith 9 in 1776 wrote
…The acquisition of such talents, by the maintenance of the acquirer during
his education, study, or apprenticeship, always costs a real expense, which is
a capital fixed and realized, as it were, in his person.
The conversion of some consumption into human capital was a favorite theme of
Frank Knight a generation before Schultz. Only the rest is what Schultz called pure
consumption eliminated from the economy in satisfying tastes. Becker added in
1964 that this investment must be expected to be recovered with interest, at least
when paid by employers in job training. Schultz had also pointed out that human
capital depreciates, and invests some work in itself in the effort of learning to
complement the exterior investment of nurture and schooling. Ben-Porath,
expressing a Schultz-led consensus, added in 1967 that human capital growth is
invested consumption (the nurture and schooling) plus self-invested work less
human depreciation. All these ideas are now accepted everywhere in human capital
studies.
7 Principles of Economics.
8 A History of Human Capital. I learned of Farr from Kiker.
9 The Wealth of Nations.
Chapter 5 Bringing Human Capital In 1/13/16 2
Jacob Mincer seems to have been first in print with the post-war revival of interest
in human capital, in his 1958 paper 10 rederiving Irving Fisher’s present value
equation and stressing job training. Schultz impresses me as the main idea man
among these post-war contributors. He usually avoided math, unlike the others, and
is probably the best source for quotes in plain English. His paper Investment in
Human Capital, published in 1961, includes:
… Much of what we call consumption constitutes investment in human capital.
Direct expenditures on education, health and internal migration to take advantage
of better job opportunities are clear examples. Earnings foregone by mature
students attending school and by workers acquiring on-the-job training are equally
clear examples.
… This use of leisure time to improve skills and knowledge is widespread… I shall
contend that such investment in human capital accounts for most of the impressive
rise in the real earnings per worker…
… Measured by what labor contributes to output, the productive capacity of human
beings is now vastly larger than all other forms of wealth taken together…
… the curve relating income to age trends to be steeper for skilled than for unskilled
persons. Investment in on-the-job training seems a likely explanation…
… We can think of three classes of expenditures: expenditures that satisfy human
preferences and in no way enhance the capabilities under discussion – these
represent pure consumption; expenditures that enhance capabilities and do not
satisfy any preference underlying consumption – these represent pure investment;
and expenditures that … are … partly consumption and partly investment, …
In 1962 11 he added:
… the investment in human capital can conveniently be classified in (1) nurture and
higher education, (2) postschool training and learning, (3) preschool learning
activities, (4) migration, (5) health, (6) information, and (7) investment in children
(population) …
10 Investment in Human Capital and Personal Income Distribution
11 Human Capital: Policy Issues and Research Opportunities
Chapter 5 Bringing Human Capital In 1/13/16 3
… But unlike the wonderful “one-hoss shay,” the productive life of educational
capital typically does not go to pieces all at once. It depreciates along the way, it
becomes obsolete, it is altered by changes in retirement and by the state of
employment …
… As already noted, educational capital, like reproducible physical capital, is subject
to depreciation and obsolescence. The established tax treatment takes account of
both depreciation and obsolescence in the case of physical capital, but this
accounting is not extended to education capital… In brief, our tax laws… appear to
be all but blind to the fact that educational capital entrails maintenance and
depreciation, becomes obsolete, and disappears at death…
These excerpts clearly show Shultz’ meanings of pure and invested consumption,
and of human deprecation. He says “pure investment” in place of my “invested
consumption”, but I prefer to follow tradition by applying “invested” to physical
capital alone. We also see his belief, with which I disagree, that substantial invested
consumption continues after independence and physical maturity. For example, he
writes “Direct expenditures on … health and internal migration … are clear
examples.” I interpret these outlays, when applied to adult workers, as maintenance
consumption preserving rather than adding skills, and enabling current pay rather
than invested for higher pay later.
I agree that self-invested work “to improve skills and knowledge … accounts for
most of the impressive rise in the real earnings per worker …”. But I don’t share
Schultz’ view that the “use of leisure time” accounts for much of this improvement.
My years in plants and oilfields and offices have given me an impression of some
study by workers during leisure time, but mostly passive accumulation of
experience and insight while fully at work on the job.
Practical Uses
One obvious use of the human capital idea is to compare the factors (human and
tradeable capital) in the same dimension. Capital and labor cannot be added, as
Petty knew, since capital is measured in dollars where labor is measured in dollars
Chapter 5 Bringing Human Capital In 1/13/16 4
per unit time. But Petty showed that the idea of human capital as discounted cash
flow measured in a money sum allows the factors to be summed together. The
revival of interest at the Chicago school soon introduced the term physical capital
for land and man-made things that can be bought and sold, and total capital for the
sum. Physical capital is a misnomer in that we are physical too. But I have used it
throughout so that economists can follow me and general readers can pick up some
of their language.
From the Y = C + I Equation to the Y Rule
Chapter 2 summarized my argument adjusting the Y = C + I equation to the Y rule.
Chapter 4 spelled out the former in (4.1). The Y rule made the hidden asterisks of
the Y = C + I equation explicit. I said in both chapters that the free growth equations
are the same for both when we allow for the asterisks.
Let’s go through the derivation of the Y rule again. (4.1) shows
output = investment + consumption.
I generally mean the version of this where “ex post net” is understood before both
“output” and “investment”. I said that this idea is implicit in the Mill quote, and is
probably as old as economics. Net output, here or anywhere, means creation of
value. Then the equation would be guaranteed by the truism, at the collective scale,
if net investment meant growth of all value existing, meaning total capital, while
consumption meant elimination from total capital collectively and nothing else. But
net ex post investment as meant throughout this book, and anywhere in macro,
means growth in physical capital alone. Consumption includes Schultz’ invested
consumption transferred into human capital as well as his pure consumption
eliminated from total capital as a whole. What the truism guarantees is rather
output = total growth + pure consumption, (5.1)
Chapter 5 Bringing Human Capital In 1/13/16 5
at the collective scale and where “ex post net” is again understood before “output.”
(5.1), but not (4.1), guarantees that terms are mutually exclusive and exhaustive.
Total growth means this ex post net investment (growth of physical capital) plus
growth of human capital. The latter would have puzzled us before the contribution
of Ben-Porath. Equation (4) in his 1967 paper, summarizing the first three, shows
human growth = invested consumption + self-invested work
– human depreciation, (5.2)
using my terms rather than his.
Chapter 6 will argue that this equation needs to be clarified. I gave a preview in
Chapter 2, and will update it now. Work is the output of human capital. Output is not
always positive. It is negative whenever growth and cash flow sum to less than zero.
A negative sum of these two shows unrecovered decapitalition (also called
deadweight loss). That would include unrecovered human depreciation. If (5.2)
meant all including negative self-invested work less all including unrecovered
human depreciation, it would subtract unrecovered human depreciation twice. Then
it must be corrected either to
human growth = invested consumption + positive self-invested work
− human depreciation, (5.3)
or equivalently
human growth = invested consumption + self-invested work
− recovered human depreciation.
(5.3a)
It is clear that Ben-Porath meant (5.3), as other evidence shows that he treated
human depreciation as unrecovered. So does all tradition, mistakenly I believe, with
Chapter 5 Bringing Human Capital In 1/13/16 6
the partial exception of Becker. I will generally prefer (5.3a), although the two are
identical in meaning.
Schultz’ analysis of consumption found
consumption = invested consumption + pure consumption. (5.4)
This plus (5.1) and (5.3a) combine for
output = total growth + pure consumption
= investment + human growth + pure consumption
= investment + invested consumption + self-invested work
– recovered human depreciation + pure consumption
= investment + invested consumption + self-invested work
– recovered human depreciation + consumption
– invested consumption
= investment + consumption + self-invested work
– recovered human depreciation. (5.5)
“Ex post net”, as always, should be understood before both “output” and
“investment”.
Chapter 6 will revisit this logic once again, and add a second way to the same
conclusion.
The Growth Equation Under the Y Rule
(5.1) can be arranged as
total growth = output – pure consumption,
(5.1a)
as a counterpart to (4.1a). Total growth means growth in total capital. My argument
continues as in Chapter 4. Since (4.2) was a blind alley, skip to (4.3). That now
becomes
Chapter 5 Bringing Human Capital In 1/13/16 7
total growth
total capital = output
total capital − pureconsumption , (5.6)
total capital
which can be written as
total growth rate = total capital productivity
− pure consumption rate,
(5.6a)
as with (4.3a). Since (5.6a) is always true, and not only under occasional
circumstances, we also get
change in total growth rate = change in total capital productivity
− change in pure consumption rate. (5.7)
This parallels the logic of (4.4). Again save space by reexpressing this as
total acceleration = total productivity + total thrift,
(5.7a)
where “total” means “of total capital”. Now divide by total acceleration to reach the
counterparts of (4.5) and (4.5a).
I will sometimes save space, from now on, by expressing these arguments in the
equations of Chapter 4, as for example in leaving the words “total” and “pure”
implicit if the context shows that I mean them.
The Slave Paradox
Say that Phil enslaves Bill. Bill’s maintenance consumption had been taste-satisfying
pure consumption to Bill when Bill was free, and so was not deducted from his pay
to find his gross realized output as valued by himself. But Bill’s maintenance
consumption satisfies no tastes of Phil. Cash flow is gross realized output less
plowback from revenue less new investment from outside, for either factor, while
Chapter 5 Bringing Human Capital In 1/13/16 8
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 as a
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 I 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, selfinvested
learning stops well before. What continues, I 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
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. I 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
Restating the Three Fourths Rule
Petty, neglecting human capital of children, measured total capital as about 2.5
times physical capital in 1664. Most estimates since have run higher. I myself model
4:1 or so as a first approximation. The ratio of human to physical capital might hold
to some such lasting norm for the same reason that number of shepherds should
hold in proportion to number of sheep. They own as many as they can manage.
Human capital means value of skills, including skills in acquiring and employing
physical capital. If the value of physical capital changes, so should the value of its
management. There is truth behind the old doctrine that a rise in the productivity of
labor explains growth in value of physical capital. But old skills can also be more in
demand when improvements in physical capital productivity can get more good out
of them. Drivers are worth more when there is more valuable freight to be trucked.
A rise in either kind of capital tends to invite a rise in the other.
The ratio of pure to invested consumption is unsettled in human capital studies. I
just showed why I think Schultz gave the right clue in 1961 when he defined
invested consumption as an outlay to be recovered with interest in consumption
over the future, and pure consumption as an outlay bringing taste satisfaction now.
It is the same distinction as with investment and operating expense in the firm. A
professional’s meals and doctor bills, and even his subscription to trade journals, are
expenses needed to keep his earning power intact rather than investment to raise it
over the future. It seems to me that once we are physically mature, the only avenues
of investment in skill building, not exhuast in skill maintenance, are self-invested
work and job training or other adult education.
And I argued that there is probably not much adult education. Only a few go back to
school. From what I’ve seen, job training is concentrated in our first few months
when schooling is over and full-time work begins. That’s why I think that the rise of
pay with age, implying a rise in skills marketed, is explained more or less entirely by
self-invested work in the mainly subliminal accumulation of job experience. (Work
Chapter 5 Bringing Human Capital In 1/13/16 11
means the output of human capital, and nothing in the definition of output implies
effort or even awareness.)
I agree with Ben-Porath that all consumption and all work should be modeled as
self-invested until independence and full-time job entry, given that models must
simplify. But I just showed why I model all consumption after, or anyhow after a few
months of job training, as Schultz’ pure kind. Here I would fault Mincer and his pupil
Becker, but not Schultz or Ben-Porath, for too much focus on the potential of job
training. It exists and is crucial. But it is so small a fraction of invested consumption,
judging from my experience, that I prefer to neglect it in modeling. Job learning,
conversely, seems to explain all rise in pay with age.
Biology might predict the same. Nature’s plan is that we first develop and then
reproduce. Some creatures follow sharply-defined somatic and reproductive phases
showing first only development and then only reproduction. A mature butterfly
does not eat. It may even lose mouth parts. Its time is spent in reproduction alone.
Other creatures including us like eating too, but nature gives them that taste for the
sake of the one behind. Adult consumption, as I see it, is more or less all pure
consumption exhausted from total capital in satisfying our taste for life and energy.
Consumption by the young is invested because that is the big idea. Nature’s plan is
reproduction to maturity.
Now suppose for simplicity that consumption is age-independent. Nobelists Milton
Friedman and Franco Modigliani, mentioned earlier for their opposite reactions to
my banking idea, separately argued something like that in the 1950s for adults. My
extension backward to birth seems defensible when we remember to include
unpaid parental care and then schooling in invested consumption. I model human
capital as continuing after retirement as present value of implicit pay by ourselves
and others for caring for ourselves and those others. Then if adulthood runs from
ages 20 to 80, those simplifying assumptions would give pure consumption as three
fourths of all consumption.
Chapter 5 Bringing Human Capital In 1/13/16 12
I also modeled human capital as three fourths of total capital. My tag for the two
ideas together was the “three fourths rule.” The agreement of the two ratios as
modeled is a convenient coincidence. If they differed, this book would have to be a
few sentences longer. Each is first-order approximation only.
The Free Growth Index for Total Capital
Given the three fourths rule, the free growth index for total capital is derived by
reading “pure” and “total” before the words consumption and capital in the
equations of Chapter 4.
Now back to the charts and tables. The free growth index for total capital is tracked
in the red line and labeled !
ϕ(Kt). It too fluctuates around one in each country, but in
a much narrower range than does the blue line !
ϕ(K). The reason is the three
fourths rule. The thrift index, not shown in the charts and tables, is one minus the
free growth index. It is derived in Chapter 4 as thrift rate over acceleration, where
thrift rate is change in consumption/capital ratio times minus one. By the three
fourths rule, where pure consumption is three fourths of all consumption while total
capital is four times physical capital, the pure consumption/total capital ratio is only
3/16 (3/4 divided by 4) the size of the consumption/physical capital ratio. The
yearly changes in these ratios reflected in the numerator of the thrift index will hold
to the same proportion. The denominator is acceleration, which is always the same
for physical as total capital by the assumption that they hold in 1:4 proportion
throughout. This explains why the unshown thrift index, or numerator over
denominator, is automatically 3/16 as large for total as for physical capital, and why
the shown free growth index runs nearer one in consequence.
I have just given an idea why it can be worthwhile to brush up the algebra we all
learned in high school or before, and to suffer the nuisance of mathematical notation.
I have made a very simple truth, obvious in hindsight, seem complicated by making
Chapter 5 Bringing Human Capital In 1/13/16 13
do with words alone. One less something nearer zero, whether that something (the
thrift index) is positive or negative, is nearer one. The wonderful books of Einstein
(with Enfeld) and Steven Hawking, not to mention Mill, show that even calculus can
be put that way. My task has been to follow their tough act. But I will now start to
infiltrate notation where I think that that form of shorthand should help more then
it hurts.
Summary
The data for the free growth index of total capital ϕ(Kt) in the charts and tables do
not represent a separate test. It is the same test adjusted to the three fourths rule.
That was proposed as a convenient rule of thumb. I would have shown a true
separate test if I knew how. Pure consumption might become separately measurable
some day, but human capital will not. The Phil and Bill parable shows that not even
evidence from slave markets would be on point. Human capital has no possible
value to any but its original owner.
Whether in words or notation, I hope to make the point that Chapter 4 and the
charts and tables showing !
ϕ(K)are likely to understate the case for Mill. Those
showing should be nearer the truth. Physical capital and pure consumption
! ϕ(K ) T
are less than the whole. My three fourths rule will never be exact because reality
cares little for the convenience of modelers. Proportions between the kinds of
consumption will not hold exactly constant and will never exactly agree. But I don’t
think the three fourths rule is so wrong that the real value of ϕ(K ! T
)doesn’t run
nearer one than the real value of !
ϕ(K). (The infiltration begins.)
Then the data support free growth theory convincingly enough if we trust equation
(4.1), as do all macroeconomists as far as I know, and probably more convincingly
when human capital is considered too.
Chapter 5 Bringing Human Capital In 1/13/16 14
The cautions at the end of Chapter 4 apply even more. My charts and tables for
! ϕ(K ) repeat the accumulated error and bias of those for T !
ϕ(K), and add the crude
simplification of the three fourths rule. (5.4) expresses my understanding of what
Ben-Porath means in equation (4) in his 1967 paper, where variables are defined in
his three equations before. If (5.4) doesn’t capture his idea faithfully, it anyhow
captures mine. Likewise my (5.5) may or may not do justice to Schultz. Some but not
all possible interpretations of what he might have meant give (5.5). Again, it is my
belief whether or not his.
What Farr, Marshall and Kiker have shown, by deducting both invested and
maintenance consumption from pay to get adult cash flow discounted to present
value, is human livestock value to a slaveowner. It is very little. The parable of Phil
and Bill argued that Bill’s maintenance is expensed on Phil’s books, but treated as
net output and positive cash flow on Bill’s. I said I can’t prove that from axioms and
definitions so far, and will need the biological imperative.
Chapter 5 Bringing Human Capital In 1/13/16 15
CHAPTER 6: PARALLELS WITH THE FIRM
My Own History with These Ideas
For sheer shock value, at least to economists, the pay rule and the Y rule must count
first amount the surprises I promised. Who would have thought that human
depreciation is expected to be recovered in revenue (pay) and product value just as
with plant depreciation? Heresy! Yet nothing is more easily proved. Either the
maximand rule or the deadweight loss rule is enough.
Free growth theory and next generation theory give more scope and policy
implications. But the pay and Y rules have plenty of those, and may be new to the
world. Mill and Petty beat me to the others.
I have been arguing the pay and Y rules from the time I reversed course from
Quesnay’s idea some five years ago. I will rederive both in new ways at the end of
this chapter. My change of mind was a classical epiphany. I had been resisting the
obvious for years. I showed how my parable of the boss and her secretary got me on
track.
My depreciation theory is a lesser shock. It occurred to me over the Christmas
holidays this year. It contradicts the national accounts, whose Capital Consumption
Adjustment corrects book depreciation from linear to exponentially falling. That
would make depreciation fastest at the start, and progressively less. No one has
objected because practical experience seems to say the same. If we resell a new car
or house after only a few months of use, we take a big hit. If we resell a new factory,
which would have been tailored to our unique business plan, we take a bigger one.
My counter-argument is that premature resale reflects adverse selection. The usual
motive for premature trade is bad news and pressure to sell, not pressure from
others to buy.
Chapter 6: Parallels with the Firm 2/4/16 1
I point instead to the millions who don’t sell. I argue that depreciation and
amortization are the same in essence. Loan payments are all interest at the start,
and all amortization at the end, by inference from the present value rule.
My risk theory is a mini-surprise. It shifts focus from the risk of the asset to the risk
aversion of the owner. Another mini-surprise is the feature of my growth truism
pointing out that deadweight loss means negative unrealized output.
I will revisit these topics in more depth after I cover the necessary groundwork in
comparing the accountancy for human capital and the firm.
Assets, Owners and Revenue
Assets means examples of capital of either factor. Their owners are all members of
the reproducing population assumed in the axioms. Each, from newborns up, owns
human capital at least. Value and growth and cash flow and output are properties of
capital. Tastes, aims and ends are properties of owners. Human capital reads its
owner’s aims, and manages both factors to realize them. Positive cash flow is
outflow from assets to owners, to exhaust or reinvest or give away as they like. In
the last two cases, the owner is mediating transfer out. She also mediates transfer in
from reinvestment or gift received.
Think of capital as source and present value of foreseen cash flows. Owners are the
foreseers, the recipients of positive cash flows, the exhausters of some in taste
satisfaction, the deciders of the time preference rates giving present value, and the
mediators of transfer out and transfer in (negative cash flow). In the case of the
diamond ring, the psychic positive cash flow arrived without mechanics. The more
typical case reaches the same outcome indirectly.
(Net) output of an asset is its value added, or creation of value. Output can be
realized as outflow to owners for reinvestment or gift or exhaust, or it can be left in
as growth. The part left in is proprietary or unrealized or self-invested output.
Chapter 6: Parallels with the Firm 2/4/16 2
Outflow to owners can also include decapitalization from capital already in place, as
in withdrawals from a bank account. I say decapitization, rather than depreciation,
because the appropriate term might rather be amortization or depletion or
liquidation in sale, depending on circumstances and the nature of the asset. The sum
of the realized output and decapitalization can be called “gross cash flow”, meaning
gross before deducting plowback and negative cash flow (transfer in). Then
gross cash flow = cash flow + plowback + transfer in
= realized output + recovered decapitalization. (6.1)
Here I specify recovered decaptalization because I treat deadweight loss as
decapitalization too. Cash flow as accountants and businessmen use the term
usually means gross of plowback, although net of transfer in. My meaning, net of
both, is the one always applied in finding total return and present value.
Although cash flow might be in kind as well, I will follow convention by treating it as
if realized from sale in cash. The owner can then spend the revenue on exhaust
(pure consumption) or reinvestment or gift as she likes, but might also plow some
or all back into the originating asset. The general principle is
positive cash flow = gross cash flow – plowback. (6.2)
In simple cases, revenue measures and equals gross cash flow for each asset. But
revenue as the term is actually used is likelier to sum contributions from many
assets and owners. To keep that usual meaning separate, define this asset’s share as
“earned revenue”. Then
gross cash flow = earned revenue. (6.3)
Another way to put the same idea is
Chapter 6: Parallels with the Firm 2/4/16 3
revenue = collective gross cash flow = collective earned revenue (6.4)
from all contributors to revenue together. Then revenue and earned revenue would
be the same if there are no other claims.
Earned Revenue and Cash Flow
A classical illustration of revenue generated collaboratively is the firm. The firm
proper can be interpreted as a single asset of physical capital. Its typically many
owners agree to hire outside management, meaning outside themselves, to contract
and trade on their behalf. The firm through its managers hires the other employees,
contracts with suppliers, and generates a joint product representing all its own
gross cash flow plus any contributed parts of gross cash flow of others. The product
is sold for revenue in the collective sense. Revenue is first applied to satisfy claims
on it by those outside contributors. Claims recovered include current purchases
from suppliers realized in sales. Others are pay to management and other
employees, along with rent, interest, utilities, other services, and whatever is due to
the tax man. The principle is to include all outlays by the firm needed to secure
revenue now, as distinct from outlays invested for the sake of more revenue later.
The share of revenue due the firm proper is any residue after all those prior claims
are met. Then
gross cash flow = revenue – prior claims = earned revenue (6.5)
gives the contribution of the firm proper.
Earned revenue may or may not be passed to owners. Management is typically
authorized to plow back any part as reinvestment, say in replenishing inventory or
cash or in buying new plant and equipment. Any revenue left over after that
plowback is transferred out to owners as dividend yield.
Chapter 6: Parallels with the Firm 2/4/16 4
Negative cash flow, or transfer in, always means new investment added from
outside. Plowback from revenue is excluded, as it is already recognized as a
deduction from positive cash flow. For the firm, the only source of positive cash flow
is proceeds from new shares issued. With this understood,
where
cash flow = gross cash flow – plowback – transfer in
= earned revenue – plowback – transfer in
= positive cash flow – negative cash flow, (6.6)
positive cash flow = earned revenue – plowback, and
negative cash flow = transfer in. (6.7)
Firms use the term gross realized output to mean the same thing as what I call gross
cash flow. A common definition is
gross realized output = realized output + depreciation.
Now we come to the subtle point allowing for deadweight loss. The total return
truism shows that output equals value growth plus cash flow. Then output is
negative wherever the sum of growth and cash flow is less than zero. Natural
disasters and bad investments can make them so. Those unexpected setbacks are
examples of deadweight loss. It amounts to unrecovered depreciation, meaning
depreciation not recovered (realized) in positive cash flow. I’ll get back to that soon.
The point at present is that the equation above really means
gross realized output = realized output + recovered depreciation.
Here too I prefer the generality of “decapitalization” over “depreciation”, and define
gross realized output = gross cash flow
= realized output + recovered decapitalization
= earned revenue + recovered decapitalizaton. (6.8)
Chapter 6: Parallels with the Firm 2/4/16 5
The terms gross cash flow, earned revenue and gross realized output will be used
interchangeably. “Realized” and “recovered” will likewise be synonymous, as will be
“proprietary”, “unrealized” and self-invested”.
(A6.1) allows
realized output = cash flow + plowback + transfer in
– recovered decapitalizaiton. (6.1a)
Define
unrealized output
= output – realized output
= growth + cash flow – realized output
= growth – plowback – transfer in
+ recovered decapitalization, (6.9)
by (6.1a) and the total return truism.
Proprietary Output and Deadweight Loss
Unrealized or proprietary or self-invested output of the firm is creation of value not
yet sold or not meant to be sold. This can be something as workaday and
perfunctory and automatic as output to inventory. Other illustrations could be
where a construction firm builds its own offices, or a car manufacturer makes cars
for its executive fleet. (6.9) shows that it includes all growth not explained by
plowback plus transfer in less recovered decapitalization. This implicitly includes all
free growth. Judging from my charts and tables, free growth seems to mean all of
growth at the collective scale. What effect might it have on the firm?
Free growth includes random windfall gain and deadweight loss as well as the
overall upward trend expressing new ideas. Deadweight loss is unrecovered
decapitalization, meaning not recovered in cash flow, That makes it negative output
Chapter 6: Parallels with the Firm 2/4/16 6
as the sum of growth and cash flow, and specifically negative unrealized output.
Then
deadweight loss = unrecovered decapitalization
= negative output
= negative unrealized output
= max (0, – output)
= max (0, − unrealized output). (6.10)
Also
positive unrealized output = max (0, proprietary output), (6.11)
and
output = unrealized output + realized output. (6.12)
The Growth Truism
In general,
Here
Also
growth = capitalization from outside + capitalization from inside
– decapitalization. (6.13)
capitalization from outside = negative cash flow = transfer in, and
capitalization from inside = positive unrealized output + plowback.
Then
decapitalization = recovered decapitalization + unrecovered decapitalization
= recovered decapitalization + deadweight loss.
growth = transfer in + positive unrealized output + plowback
– recovered decapitalization – deadweight loss, (6.14)
or more simply
Chapter 6: Parallels with the Firm 2/4/16 7
growth = transfer in + positive unrealized output + plowback
− decapitalization.
(6.14a)
(6.14a) can also be expressed as
growth = transfer in + unrealized output + plowback
− recovered decapitalization.
(6.14b)
For convenience, define
gross transfer in = transfer in + plowback,
So that (6.14) through (6.14b) can be put more compactly as
growth = gross transfer in + positive proprietary output – decapitalizaiton
= transfer in + unrealized output – recovered decapitalization. (6.14c)
Any of these versions of (6.14) can be called the growth truism. The new term gross
transfer in will help shorten equations for human capital.
Management as a Quasi-Owner
Owners (shareholders) typically allow management wide latitude to cope with
needs. It stands in place of owners. Accounting tradition, and this book too, reasons
out the steps from revenue to dividend yield as if management itself were the owner.
Otherwise there would be little to say. From the shareholder viewpoint, revenue is
simply dividend yield.
But the bottom line is the same. The maximand is output, or growth plus cash flow.
Positive cash flow, in the sense net of plowback, is dividend yield on both the firm’s
books and the shareholder’s. Negative cash flow on the books of shareholders
individually is purchase of any shares in the same firm. On the books of
shareholders collectively, where sales and purchases of existing shares offset, it
simplifies to purchase of new stock issues alone. This too is just as on the books of
the firm.
Chapter 6: Parallels with the Firm 2/4/16 8
My purpose in this analysis of the firm has been to derive equations valid for any
capital of either factor. The firm is a good model for several reasons. Its accounting
traditions are centuries old, and have been well thought through. It is rich in
possibilities because it has to be. It must describe firms of many kinds. It must allow
for contingencies whether or not they apply. For many simple assets, say the firm’s
shares as opposed to itself, revenue and positive cash flow can be the same. But the
complexity and versatility of the firm itself, and the person-likeness added by its
internal management, make it a useful model for any and all capital of either factor.
Not that I claim to follow accounting tradition closely, or even to understand it
closely. I am even less an accountant than an economist. My terms and concepts
tend to be idiosyncratic. The main thing is for the logic to hold together.
Human Capital by Analogy to the Firm
It is reasonable to define pay as the revenue of human capital. Earned revenue for
the firm is typically less than revenue. There are prior claims to offset contribution
by worker and suppliers. The counterpart in human capital, I said in Chapter 2, is
maintenance consumption. I believed for years that this cost counted as a prior
claim on pay, just as with the firm. I may have been the only person to think so since
Quesnay and the physiocrats, although Mill and Sraffa might be interpreted that way.
But who has thought what doesn’t matter. Quesnay’s idea is a mathematical
possibility that must be addressed. I’ll get there soon.
Human capital is inalienable. That means that its decapitalization simplifies to
human depreciation. The firm’s added possibilities of depletion and liquidation
don’t apply. The output of human capital is called work. Then (6.1) through (6.8),
applied to human capital, give
earned revenue = pay – prior claims
= gross realized work
= realized work + recovered human depreciation. (6.15)
Chapter 6: Parallels with the Firm 2/4/16 9
The pay rule argues that prior claims are zero and that all human depreciation is
expected to be recovered in pay and work products as a norm.
Chapter 2 offered two logical proofs of the second point. The alternative to recovery
is deadweight loss. Capital is discounted foreseen cash flow, and cash flow is
realization in transfer or taste satisfaction. Deadweight loss, or unrealized
depcatialization, is therefore implicitly unforeseen. Human depreciation, like plant
depreciation, is foreseen from the start. Aging and mortality come as no surprise. It
is therefore foreseen as realized in pay.
The second proof, stated in part by Becker, follows from the maximand rule. All
behavior is maximization of perceived risk-adjusted return to the individual’s total
capital. This follows from definitions, not from axioms. There are no exceptions
because there are no square circles. The rule says that no one invests in anything
without expected recovery with interest. Recovery means recovery of depreciation.
We do invest in human capital, of ourselves and our children, and consequently
expect recovery of human depreciation by ourselves or them. It’s that simple.
Other proofs looked to evidence and experience. I offered the parable of the boss
and her secretary, which had been decisive in converting me from Quesnay’s view.
Let’s go through it once more. Assume that investment in each has ended before the
last year for each. First take the possibility that neither maintenance consumption
(the supposed prior claims) nor human depreciation is recovered in pay. Then work
and cash flow for each have simplified to realized work and pay. Human capital of
each is remaining pay less the time discount. At the beginning of the last year, it is
something less than one year’s pay. If pay measured work, return to each
(work/human capital) would be something over 100% per year. It would rise to
100% per day at the beginning of the last day, and 100% per second at the
beginning of the last second. At the end of the last second it reaches infinity. Yet the
portfolio assets of each reveal their rates of time-preference (return) as only a few
percentage points per year.
Chapter 6: Parallels with the Firm 2/4/16 10
This is enough to rule out the idea that pay recovers neither maintenance nor
depreciation. Does it say which is recovered? It does if we look at the cases of the
boss and her secretary separately. Each earns the same pay throughout, and the
boss earns ten times more. By the beginning of the last day, the human capital and
work of each is negligible. Pay is all depreciation recovery if I am right, or all
maintenance recovery if Quesnay was right, or maybe both. The boss’s pay, anyhow,
remains ten times higher. Is that because her maintenance is ten time more, per
Quesnay, or because her depreciation is?
The answer is easy. I concede that the higher-paid usually consume more. But not
always, and anyhow not in proportion and not because they have to. I learned in the
quartermaster corps that the consumption needs of the general and the private are
not much different. The commanding officer, in the field, is expected to be the last to
eat, the last to sleep and the first up in the morning. Maintenance consumption, as
opposed to the rest, is what we need to keep up strength and vitality and
performance. We can’t make do with less. More pay is more motive, but need not be
spent on more consumption unless by choice.
The boss and her secretary are paid to apply skills. They are in trouble if the worth
of those skills doesn’t cover their maintenance needs. But they will tap savings if it
doesn’t. Retirees need no money motive to consume. All they need is the means. The
source of skills applied is human capital. The application is gross realized work. The
difference between its human depreciation and realized work components matters
because the maximand is net output (work) rather than gross. But it is not a
difference in kind. Skill applied is skill applied. Pay is all depreciation at the last
second for the same reason as with the mortgage payment. There is no balance left
to earn interest.
This argues strongly that human depreciation is recovered in literal pay and
transferred to work products. It also argues that maintenance is not. The problem is
Chapter 6: Parallels with the Firm 2/4/16 11
in the exact 10:1 proportion required throughout. Whatever was contributed to pay
by maintenance recovery, on top of depreciation recovery, would have to hold the
same ratio in order for pay to cover both. Experience shows this as unlikely in any
case, let alone all cases. The boss and her secretary probably couldn’t hold
maintenance consumption to that ratio if they tried.
Another strong argument against the hypothesis of prior claims on pay is lack of a
source. The claimant would be whoever other than the worker had paid for the
maintenance consumption and needed to be made whole. Thus the employing firm
would hold a valid claim if it had provided the maintenance consumption in order to
enable the work. That would put the firm in the position of a farmer who must feed
the livestock and must earn enough profit to recoup the cost. We went through this
in the parable of Phil and Bill. But the employer firm does not advance the cost
because it has no motive to do so. It knows that the worker will pay it anyhow if
means allow. Where means don’t allow, as in retirement without adequate savings,
the worker looks to transfer payments from society generally rather than from the
firm alone.
Now comes the evidence of age-wage profiles. This evidence is the substance behind
the parable of the boss and her secretary. The evidence is apt. Wage generally
means hourly pay, while “earnings” means yearly pay. Wage-earnings profiles show
a rise with age, but peaking and reversing as workers reach their fifties or so. The
reason is that they tend to work fewer hours. I consider pay per hour a better
measure of human capital than pay per year. If someone is worth $30 per hour half
time, my impression is that she would be worth $30 per hour full time. If she prefers
to stay home, her leisure must give her that much psychic pay instead. Psychic pay
cuts just as much ice with me.
My boss and secretary were cases preferring to work full time. Age-wage profiles
bear out the scenario I imagined for them. They illustrate the logical certainty that
human depreciation is expected to be recovered in pay, and support the
Chapter 6: Parallels with the Firm 2/4/16 12
convergence axioms leading from prediction to probable outcome. More than that,
continuance of the 10:1 ratio through the last day tends to confirm that no
maintenance consumption is recovered alongside human depreciation. If it were,
age-wage profiles show that it would have to hold the same 10:1 ratio throughout.
Exhaust Pay
The present value and maximand truisms affirm that all including human
depreciation is expected to be recovered in positive cash flow. Positive cash flow is
transfer out plus exhaust. In human capital it is pay less plowback. Might some
human depreciation be realized in exhaust? I thought all was when I also thought
maintenance consumption was recovered in pay and work products. The boss and
secretary parable turned my thinking around on that. But it doesn’t follow that none
is.
Some pretty clearly is. I argued that even suicide expresses the maximand rule.
Deliberate self-maiming exists and expresses it again. Just as Citizen Kane destroyed
his showcases because the fit was on him, some destroy their bodies. So long as the
destruction is intended and compos mentis, it counts as economic behavior.
Are there sunnier examples? What about voluntary unpaid vacations and voluntary
retirements? What if the boss and her secretary enter convents in mid-career?
These choices surrender human capital on the face of things because they surrender
literal future pay. But the psychic pay of leisure makes up for it. Otherwise we would
have stayed on the job track.
Then some human depreciation is exhaust. Call the psychic pay for it “exhaust pay”.
It seems mercifully small in the big picture. I tend to neglect it in modeling for that
reason, just as with invested consumption after full-time job entry. But I claimed
logical certitude as to expected recovery of human depreciation in pay. I’d better not
leave loopholes. There are none. Some of the pay is psychic, and some of the tastes
satisfied are not pretty.
Chapter 6: Parallels with the Firm 2/4/16 13
Tweaking the Axioms
My last argument reasoned from experience that we need no money motive to
consume, and that pay tends to cover our maintenance needs. But that wasn’t
strictly in the axioms. I assumed a mortal and reproducing population strategizing
for means to satisfy tastes, and more generally aims. I didn’t say out loud that the
population in fact survives. Now I do. Let’s specify that the population has motive
and means for lineage survival, whether in a group selection or kin selection sense.
The means can be specified as skill sets, as an adult norm, sufficient to earn
maintenance consumption needs for themselves and invested consumption needs
for their young together. As to motive, I will specify at last that maintenance
consumption is exhausted in satisfying our taste for survival. I already as much as
assumed this in arguing that we need no money motive to consume.
This assumption of motive and means amounts to the biological imperative. It is
hardly new to economics. It is the essence of Petty’s overlapping generations model
of 1662 in A Treatise of Taxes. It is the essence of the equilibrium wage theory of
Smith in 1776 and Ricardo 1817, where pay converges to the level holding the work
force intact. It is the essence of Malthus’ population principle of 1798 and 1801,
chosen by Senior as his first axiom in his Outline of 1836. It is the essence of the
productive consumption theory developed from Malthus through Mill in 1848.
It lapsed from attention with the marginalist revolution beginning with Jevons and
Menger in 1871, ironically the year of publication of Darwin’s The Descent of Man,
because the marginalists treated explanations of tastes as irrelevant. I happen to be
a huge fan of the marginalists. But they’ve made their point. The microeconomics
they founded is a rich and mature science. It needs no assumptions as to what
explains our tastes. But macro is not doing so well. I believe that it must start over,
and that a grasp of motives helps.
Chapter 6: Parallels with the Firm 2/4/16 14
Quesnay’s Idea
What Quesnay wrote, in his entry for “man” in Diderot’s Encyclopedia of 1750, was
“Those who make manufactured commodities do not produce wealth…they
spend their receipts in order to obtain their subsistence. Thus they consume
as much as they produce…and no surplus of wealth results from it.”
Quesnay, like Petty a century before, came to economics from medicine. He was
personal physician to Madame de Pompadour, and then to the royal family. His
argument was that value is added in agriculture alone, not in manufactures. His
conclusion that only landowners can afford to pay taxes did not enchant the landed
aristocracy of Versailles.
Mill’s Essays 1 includes
“as much as is necessary to keep the productive worker in perfect health and
fitness for his employment, may be said to be consumed productivity. To this
should be added what he expends in rearing children to the age at which they
become capable of productive industry.”
Mill’s Principles of 1848, which I quoted earlier, said the same:
“What they consume in keeping up their health, strength and capacities of
work, or in rearing the productive laborers to succeed them, is productive
consumption.”
Sraffa’s parallel idea is expressed in his 1960 paper Production of Commodities by
Means of Commodities.
My impression is that Quesnay’s “surplus of wealth” means value added, and that he
thought maintenance consumption should be deducted from revenue in finding it.
Mill can’t have meant what I think Quesnay did, in view of Mill’s evident belief that
output is investment plus consumption. Rather, when I like Quesnay argued that
1 Essays on Some Unsettled Questions of Political Economy (1844).
Chapter 6: Parallels with the Firm 2/4/16 15
maintenance is recovered in pay work products, I thought Mill and Sraffa might have
reasoned partway there.
My belief then that human depreciation is exhausted is satisfying tastes seemed
defensible then. I argued, sensibly to a point, that getting older meant surviving. I
suppose I might still argue the same but for the parable of the boss and her
secretary.
Another Look at Depreciation Theory
My pay rules, illustrated in the parable of the boss and her secretary, depends on my
idea that depreciation and amortization are the same. Capital means present value
of a typically finite series of forseen cash flows. As each year passes, present value of
the most distant and most discounted one is lost. Depreciation/amortization is that
loss. It begins at a maximum, and rises steadily as the end point nears.
I faulted national accounts for projecting an opposite trajectory from evidence of
actual sales. I suggested a second look at likely circumstances and motivations.
Depreciable assets are mostly structures and equipment. They tend to have been
designed and modified for original users. Original users typically expect to own and
operate them to the end. Then what is the likely driver of exceptions? Are secondary
trades of plant and equipment likelier to be driven by pressure to buy or pressure to
sell?
Human capital, anyhow, is exempt from both pressures. We’re struck with what we
have. We can invest more, as a homeowner might add a pool room, but we cannot
sell. The years roll by, and present value of the most distant one’s pay is lost.
Consider what happens when the expected end point changes. Say that the boss and
her secretary, at the beginning of what was to be the last day, are both persuaded to
re-up for another five years at the same pay. Human capital of each jumps from a
little less than one day’s pay to present value of five years’ pay. But human
depreciation of each is sharply reduced! At the beginning of what seemed the last
Chapter 6: Parallels with the Firm 2/4/16 16
day, it was substantially to be the whole of pay. Now it becomes present value of a
day’s pay five years off.
Another Look at Risk Theory
I made the point that the boss and her secretary reveal their time preferences in the
security portfolios they assemble, and discount their pay at the same rate of return
to reveal their human capital. Is that too simple? Does it overlook risk, or other
factors?
I argued that human capital is the risker and higher-return factor because its
exceptional versatility makes it as risky as we like, and because it is owned
disproportionately by the risk-tolerant young. Does that make the bosses’ or
secretary’s human capital riskier and higher in return than her portfolio assets? It
does not. She molds all capital to her single risk-preference level at her current age.
This is not to claim that age is the only determinant. Gender seems to count too, with
males usually more risk-tolerant. Bob Trivers tells us why. And there is a wealth
effect. We tend to tolerate more risk when wealth gives us more cushion against
setbacks. But each of us, in present circumstances, has just so much tolerance.
Tastes are properties of owners, not of assets. We assemble and modify assets of
both factors to suit them. Human capital is not inherently riskier. It is riskier at the
collective scale only because it is owned disproportionately by the risk-prone young.
Each cohort, from youngest to oldest, molds it to suit that cohort’s characteristic risk
profile. The boss and her secretary each molds all her assets of both factors to her
single risk tolerance at the time.
Tweaking the Life Cycle Model
I consider Ben-Porath’s life cycle model of 1967 the most important paper in 20 th
century economics. I agree with all of it more or less. Now it needs clarification and
completion.
Chapter 6: Parallels with the Firm 2/4/16 17
All studies of human capital, as far as I know, effectively treat human depreciation as
deadweight loss. Ben-Porath’s model seems no exception. How does he model pay?
He multiplies human capital by a productivity factor, and then again by the fraction
marketed for pay rather than self-invested. That gives what I call realized work. Pay,
if I am right, measures gross realized work. That is the main amendment I would
propose for his model.
Ben-Porath’s first three equations summarize what I call the growth truism (6.14).
In my terms, not his, he models
human growth = invested consumption + self-invested work
– human depreciation.
He means positive self-invested work in the form of learning. Meanwhile the
inalienability of human capital leaves its depreciation as its only avenue of
decapitalization. Invested consumption corresponds to gross transfer in as meant in
the growth truism (6.14c) while self-invested work is the same as proprietary
output. Then (6.4c) applied to human capital could show as
confirming (5.2) and (5.3a).
human growth = invested consumption + positive self-invested work
– human depreciation,
= invested consumption + self-invested work
– recovered human depreciation,
Logic also seems to agree with Ben-Porath’s interpretation that self- invested work
continues late into careers, and that it must stop when time for recovery runs out.
But I would specify that invested consumption stops, for modeling purposes, at fulltime
job entry or a little later to allow for initial job training.
This needn’t follow from my adjusted axioms. It’s just an impression from what I see.
I don’t agree with Schultz that outlays on medicine or worker relocation are
investment. I see them as maintenance consumption preserving skills, not
Chapter 6: Parallels with the Firm 2/4/16 18
investment building skills. I don’t see much avenue for investment in adult human
capital except through textbooks and tuition. Some happens. I went back to school at
the Conservatory myself, and I buy lots of textbooks. But I just don’t see enough of it
around me. Models must simplify. Mine would end invested consumption at
independence more or less.
I would also model adult self-invested work as subliminal and costless job
experience. I don’t see it as taking a second away from work for pay. This again is
meant to describe the usual rule only. Ben-Porath’s model, I think, allows an
impression that workers can choose between earning and learning by allocation of
time. The quotes from Schultz in Chapter 5 described that as common. I just don’t
see much of it happening. Rather we tend to work fewer hours at the end of careers,
not the beginning or middle when time for recovery of self-invested work remains.
I said that Ben-Porath’s equations imply
pay = realized work.
I would substitute the pay rule
pay = gross realized work
= realized work + human depreciation
= work – self-invested work + human depreciation, (6.17)
as a norm or expectation. It isn’t a guaranteed outcome because deadweight loss
happens to human capital too. We may be hit by a bus, or lose our jobs in a slump, or
be sent to prison or drafted into the army. The pay rule means that recovery is
foreseen. If (6.17) were stated in terms of outcomes, “recovered” would have to be
inserted before “human depreciation”.
Chapter 6: Parallels with the Firm 2/4/16 19
I believe that the case for this rule is very strong. The deadweight loss rule and the
argument from the maximand rule give logical certitude that human depreciation is
expected to be recovered in pay. The convergence axioms would then give actual
recovery as a norm. The rule disallows the prior claims hypothesis, or possibility
that maintenance is recovered too, from an accumulation of implausibilities that led
me finally to rule them out by adjusting the axioms.
The life cycle model should also specify that human capital continues after
retirement. I admit that this rules out the simplicities assumed in the boss/secretary
parable. It continues because we earn imputed pay until the end, and human capital
remains as its present value.
I would also model in my depreciation theory. Pay, like the mortgage payments, is
all realized work (interest) at the start and all human depreciation (amortization) at
the end. No other explanation of age-wage profiles will hold water.
A New Approach to the Pay Rule
I reasoned to the pay rule from the maximand and deadweight loss rules. Another
approach can reach the same conclusion.
The total return truism finds
output = capital growth + cash flow.
(6.16) expressed Ben-Porath’s equation as
human growth = invested consumption + self-invested work
–recovered human depreciation.
Cash flow is the flow discounted to present value. Tradition, since Farr in the midnineteenth
century, has seen human capital as present value of future pay less what
Chapter 6: Parallels with the Firm 2/4/16 20
I call invested consumption. I argued in Chapter 3 that this tradition is sound,
although not logical certitude. I put it as
human cash flow = pay – invested consumption. (6.18)
Work is defined as the output of human capital. Summing (6.16) and (6.17) now
shows the pay rule
work = pay + self-invested work – recovered human depreciation,
after cancellation of invested consumption.
This says that the pay rule is not so exotic after all. It has been staring us in the face
since the Schultz-led consensus, with Ben-Porath, figured out the human growth
equation a half a century ago. We had effectively recognized human cash flow as
pay less invested consumption since Farr a century before, without putting it in
those words. The total return truism does the rest.
A New Approach to the Y Rule
The marginalist tradition, which has dominated economic thought since its
introduction by Jevons and Menger in 1871, has treated all consumption as the end
point exhausting capital in satisfying tastes. It doesn’t follow that marginalists were
unaware that some is invested in human capital. At least three of the leading ones
understood human capital well. That includes Leon Walras, a third co-founder of the
marginalist revolution in 1874. I also mentioned Marshall, who agreed with Farr in
disputing Petty, and Irving Fisher. But all three, and marginalsts in general,
preferred to locate human capital outside the economy proper. Whether they spoke
of labor measured in dollars per unit time, or human capital meansured in dollars
alone, the larger factor was taken to arrive exogenously. It provided its services
from outside and was paid their market value in return, as if on the books of a firm.
Chapter 6: Parallels with the Firm 2/4/16 21
Marshall’s pupil Keynes was thoroughly a marginalist, as are economists in general
today and as am I. One of the features of his General Theory of 1936 was a kind of
double-entry accounting for national product. Product was output and equivalently
income. Output meant the sum of prices of final products produced within the year,
while income meant the shares of that sum paid to the workers and investors
producing it. His double-entry idea can be put as
output = investment + consumption = income = pay + profit. (6.19)
I showed why I disagree. But let us see how the total return truism might seem to
have led to that inference if we leave workers or human capital outside the economy.
To treat them as arriving exogenously from outside is essentially to treat the
national economy as if it were a single firm. Output inside is simply profit. Output
outside is work, meaning creation of value by the workers. This gives the truism
output = work + profit,
confirming that total output is the sum of factor outputs.
So far, so good. But now Mill and Keynes and most tradition slip by arguing that pay
equals and compensates all of work and nothing else. That’s why (6.18) equates
output to pay plus profit. Schultz and Ben-Porath and other students of human
capital correct this in part by recognizing some work as self-invested rather than
marketed for pay. My pay rule adds that pay recovers human depreciation as well as
realized work. (6.19) should have reasoned
output = income = work + profit
= pay + self-invested work – human depreciation + profit. (6.20)
Chapter 6: Parallels with the Firm 2/4/16 22
Where Keynes and Kuznets and macroeconomic tradition have been right is in
reasoning that pay and gross profit, meaning gross of depreciation, sum to the
“expenditure” spent on consumption and gross investment. This fact of arithmetic is
the logic behind Say’s law: pay plus profit are always enough to buy what is
produced. We saw that this truism gives cold comfort when calamity or
misjudgment make profit negative, as with the subprime houses of 2008. What it
certifies, anyhow, is
expenditure = pay + gross profit = consumption + gross investment. (6.21)
We can subtract depreciation to reach
pay + profit = consumption + investment. (6.22)
Now (6.19) can be corrected as a whole to show
income = pay + profit + self-invested work – human depreciation
= output
= consumption – investment + self-invested work
– human depreciation. (6.23)
My main goal in this book has been to further the work of Solow in exogenizing
growth, and also the work of Ben-Porath in endogenizing human capital as
something produced within the economy. It was in that spirit that I derived the Y
rule in Chapters 2 and 5 by putting human capital inside. I reached
output = investment + human capital growth + cash flow.
Here “ex post net” is understood before output and investment, so that investment
means physical capital growth. (6.16) applies the growth truism to human capital.
The cash flow truism shows that cash flow is net transfer plus exhaust realized in
Chapter 6: Parallels with the Firm 2/4/16 23
taste satisfaction. These are all ex post descriptions of realized outcomes rather than
intentions. Together they give
output = investment + invested consumption + positive self-invested work
− human depreciation + net transfer + exhaust
= investment + invested consumption + self-invested work
− recovered human depreciation + net transfer + exhaust. (6.24)
This much is certitude. I now apply (5.9), which includes
consumption = invested consumption + pure consumption,
to reach the Y rule in its general form:
output = investment + consumption + self-invested work
− human depreciation + net transfer. (6.25)
The net transfer term disappears at the collective scale.
Although (6.24) is logical certitude infered from definitions, (5.9) and consequently
(6.25) are not. I cannot rule out the possibility of a third kind of consumption
recovered in work products as per Quesnay. I hope that my interpretation of agewage
profiles in the light of the boss-secretary parable has revealed that as
improbable. The same holds for my derivation of the pay rule through Ben-Porath’s
equation and (6.18). (6.18), my inference that human cash flow equals less invested
consumption, also trusts that all maintenance consumption is exhausted in
satisfying tastes.
Summary
Accounting for human capital is much like accounting in a firm. Expected recovery of
human depreciation in pay is logical certitude illustrated in age-wage profiles and in
the boss-secretary parable. The pay rule is not entirely logical certitude, however, as
it also asserts that maintenance consumption is not recovered. Age-wage profiles
Chapter 6: Parallels with the Firm 2/4/16 24
support this hypothesis too, as the constancy of pay differences to the end would
otherwise be improbable. I made it the Darwinian axiom: maintenance is exhausted
in satisfying our taste for survival.
Ben-Porath’s life cycle was adjusted to express these features. Factor risk theory
argued that human capital is the riskier and higher-return factor because capital of
any kind takes on the risk characteristics of its owners and human capital is owned
disproportionately by the risk-tolerant young.
The Y rule contradicts the Y = I + C equation, while the pay rule contradicts the
dogma that output equals pay plus work. National accounts are founded on both.
That means I can expect tough resistance. I have tried to prepare for it by adding a
little more to each argument with each chapter.
Throughout this chapter, and throughout this book, I have bent over backwards to
distinguish logical certitudes from falsifiable hypothesis. Economics needs both. But
it needs to know which is which. The pay and Y rules, for example, are each
certitude in part. The certain part is the heretical one. The present value and
maximand rules follow from definitions, and compel expected recovery of human
depreciation in pay. I then relied on the convergence axioms to infer actual recovery
as a norm, not a invariable outcome, and on the new axiom of the biological
imperative, as well as evidence from age-wage profiles, to infer that maintenance
consumption is exhausted rather than recovered in pay as well.
Chapter 6: Parallels with the Firm 2/4/16 25
CHAPTER 7: PETTY’S IDEA
How We Got to this Point
I said that if I had any sense, I would have left the worms in the can by pretending to
believe (4.1) as Mill did and as the rest of the world seems to do. Charts and tables
confirm his prediction in his and their terms as well as mine. But Piketty’s argument
was rightly criticized for leaving human capital out. Someone might or might not
have faulted mine on the same ground if I had stopped at the end of Chapter 4.
Whether they would have or not, every composer knows that the critic to hear is the
one inside. What that critic told me was to gamble a case already won, open the can,
and follow the argument and worms wherever they lead. That’s why my title
promised other surprises.
I risked following it past clarification into digression when I argued the pay rule. I
since tried to justify the digression, if there was some, by showing how that rule
could explain Piketty’s data for pay/net profit ratios in the twentieth century. And I
tried to show how the pay rule and depreciation theory combined, making pay all
human depreciation and no realized work at the end, gives the only convincing
explanation of age-wage profiles showing rising or steady pay as human capital
grades smoothly to zero. Risk theory reinforced this argument by revealing time
discount rates for human capital as those made plain for physical capital owned by
the same ageing cohorts. Every step was an adventure, and every step led to the
next one. But I opened other questions and cans along the way, and the same critic
tells me to follow the worms a little farther.
I said that the cost of survival is adult consumption for the sake of investment in the
next generation, that pure consumption is more or less the same, and that we will
understand the maximand when we understand pure consumption. These threads
lead into evolutionary biology, which reasons how traits are selected for lineage
survival. The faithful need not take alarm. Although I mean natural selection, divine
Chapter 7 Petty’s Idea 2/3/16 1
selection should probably do as well. We are all at peace with the fact that people
and other creatures care for their young.
Economics and evolutionary biology are much the same. Helen Keller, born blind
and deaf, might still have reasoned her way through much of both. Hamlet would
have loved them. I love them most when they test the limits of logic, and consult the
data only at the end. The theme from which both reason, as Herbert Spencer taught
in the nineteenth century, is what he called “survival of the fittest.” Another
philosopher, Karl Popper, found fault with this idea a century later. Popper was one
of those I mentioned who disapprove of truisms. I haven’t read Popper, but gather
that he thought it improper to define fitness as potential survival, and then measure
it as survival. That objection is close to being understandable from an anti-truism
viewpoint. But the reason why it is not quite a truism is instructive. Measurement
implies an “empirical” world of data in external and observable reality. Spencer’s
insight, really his paraphrase and generalization of Darwin’s, is not quite a truism
because it carries the hypothesis that “potential” has an empirical meaning.
Aristotle’s idea that potency precedes and explains act is called causality. Adam
Smith’s friend and fellow Scotsman David Hume scarcely doubted causality, but
argued correctly (I think) that it cannot be proved either by logic or by experiment.
The fittest prove themselves such by surviving if and only if Aristotle was right.
Natural selection simply means the untestable but little-doubted theory of causality.
Spencer or Darwin or Gertrude Stein might be faulted for insulting our intelligence
by stating the obvious. That shoe would fit Gertrude Stein. But Spencer and Darwin,
like the little boy in Hans Christian Andersen’s The Emperor’s New Clothes, were
stating the obvious unseen. Andersen’s point was that intelligence was not the thing
lacking or what the little boy supplied. It was about how tradition and mind-sets and
in-groups might sometimes need a look from outside. Peer review is not enough.
Sometimes it perpetuates nonsense. The little boy was not a peer, but he could tell
clothes when he saw them. (“Peer”, as any theorist knows, means someone who
pees on your theory.)
Chapter 7 Petty’s Idea 2/3/16 2
I confess that this book casts me as that little boy crashing the economic party, and
maybe the evolutionary biology one too, in trust that outsiders might have better
chances to spot the obvious unseen. What else was the pay rule? I derived it easily
from doctrines already accepted, I think, and anyhow hard to refute. Those were the
total return turism and Ben-Porath’s equation for human growth. The maximand
rule or deadweight loss rule would prove it as well. How could Becker have missed
that what holds for investment in job training by employers holds for any
investment by anyone in anything? How could students of the age-wage problem
have missed the obvious solution? Investment implies expected recovery with
interest, by the investor or a chosen donee, and recovery means recovery of
depreciation. I belabor this point because tradition dies hard, and naturally tends to
circle wagons under attack. I doubt that my surprise attack will meet the resistance
Darwin’s found. Darwin’s met resistance founded on faith. I took pains to show that
my version requires only selection for lineage survival, and that a benign Artificer
might ordain the same.
Evolutionary Biology and Hamilton’s Rule
Economics, meaning any quantitative rationale of choice, normally describes
humans and human choice. That goes for this book too. But some treatments of
economics including this one are meant to fit other creatures as well. My axioms
have kept that in mind. The mortal and reproducing population need not be human.
Much of the animal kingdom, I think, shows convergent tastes and predictions or
acts as if it did. The biological imperative is meant to apply to all. All, as I see it, own
capital of both factors. Even protozoans own (“monopolize”) the nutrients they
assimilate and the space they occupy. Humans are exceptional in their cultural
accumulations of learning and technology shown in our secular (lasting) growth.
But I did not make those features axioms.
I argued that economics tended to reason explicitly or implicitly from the biological
imperative, meaning what I call “ends” in lineage survival, from Petty through Smith
Chapter 7 Petty’s Idea 2/3/16 3
and Ricardo and Malthus and Mill, until the marginalist revolution shifted focus
from objectives to the mechanics in supply, demand and price. Bioeconomics awoke
a century later, largely it seems in response to the challenge of Hamilton’s rule. Now
I will look at it too.
My term “lineage survival” is unusual. It is meant not to take sides between “kin
selection” and “group selection.” The kin selection idea was another word for
Hamilton’s rule from his doctorial thesis in 1964. It said that genes encoding
investment in close kin encode investment in likeliest sharers of those genes, and
should tend to entrench and perpetuate themselves. His condition for investment
was r 〉 bc . r here meant relatedness: ½ for offspring or siblings, ¼ for nephews or
nieces or grandoffspring, and so forth. b meant benefit to the donee, and c meant
cost to the investor. The sign > means “greater than”. The cost and benefit were
measured in fitness itself, meaning chances to survive and breed. But that too meant
“inclusive fitness” where investing in kin counted as breeding when adjusted for
relatedness. The idea was that I give up some of my chances if I can increase yours
to my net genic advantage in the long run. Hamilton allowed for exceptions
including meiotic drive, which sometimes forecloses gene competition. His rule
prevailed because it made mostly good predictions. Humans and creatures in
general usually care for their own young first, if they have any, and for closely
related young if not.
Hamilton made it clear that cost c and benefit b in his hurdle rb > c respectively
meant fitness given up by the investor and fitness grained by the investee. He
further made it clear that fitness could be measured as R. A. Fisher’s “reproductive
value” V(x) published in 1930 and 1957. V(x) meant likelihood at age x of
reaching each successive age times expected offspring at that age. V(x), or Bob
Trivers’ “reproductive success” RS, which simplifies V(x) to expected remaining
offspring, is implicitly constant at the population scale unless there is population
growth (Fisher’s “Malthusian parameter”). For creatures other than us, the
Chapter 7 Petty’s Idea 2/3/16 4
parameter typically fluctuates around zero and group fitness holds about where it
started.
Hamilton’s rule, applied to diploids like us where closest relatedness r absent
inbreeding is ½, forbids investment where fitness gained (benefit) is less than twice
fitness given up (cost). I see no escape from the inference that fitness would double
with each generation, or more to account for cases where relatedness fell below ½. I
see no relief in an interpretation, say, that each successive generation cures this
imbalance by investing only half or less of its fitness and letting the rest lapse.
Fitness is likelihood of leaving descendants of equal fitness. It is not strictly
conserved, because likelihood is generally not identical to outcome. There is ex ante
and ex post fitness. But the ex ante kind is meaningless unless potency, in Aristotle’s
terms, is expected to converge to act. Hamilton’s rule should not have escaped this
critique for half a century. It clearly has merit, but needs some different expression.
Such a reformulation might treat rb/c as a maximand within practical constraints.
We can see how it might be by looking at the context. Darwin’s idea is a competition
for breeding success. This biological imperative is a powerful predictor in nature. It
predicts that traits are selected for successful reproduction to the exclusion of all
else. Evidence is impressive. “Semelparous” creatures who breed only once and do
not invest postpartum care, like salmon and soybeans, die within hours. An octopus
mother breeds only once, cares for her young a few weeks, and dies as they disperse.
Nature is on a tight budget. Resources wasted soon become resources lost to
thriftier lineages.
Hamilton saw this. He was right in stressing the role of competition among
individuals and individual heritable traits. Darwin did the same. One thing
Hamilton’s rule leaves out, which is not to claim that he overlooked it, is that traits
and their genes best at prioritizing self-replication might for that reason hurt
chances of achieving it. We know this happens. Human tradition everywhere resists
and punishes nepotism when it crosses a line. Jane Goodall reported the same for
Chapter 7 Petty’s Idea 2/3/16 5
her chimps at Gombe. I think I have seen it among the pack of dogs, led by my
father’s favorite “Sean”, at Sutton Place. That would count as one of the practical
constraints. Too little support for family over equally deserving others is seen as a
fault, and too much as another.
The reason is obvious. Jack’s ambitions for kin will eventually conflict with Zack’s,
just as with ambitions for food and nest sites and mating opportunities. Not
everyone’s firstborn can be king of the hill. Social creatures evolve agonistic rules to
settle such conflicts peacefully. Losers in mating tournaments, or in contests where
males display and females choose, usually survive to compete again next year. The
contest is in the group interest because the traits of strength and skill proved in the
winner will be those passed on. Our genes tell us to compete as best we can for the
sake of a fair test, and to stop when the verdict seems clear. And soon enough it does.
The quarterback tries his best for three downs to move the yardsticks, but trots to
the sidelines on fourth down for the sake of another chance later. If genes can
encode this farsighted strategy for those other kinds of competition, why not for
nepotistic competition too?
For decades, biologists wondered why genes need so much selecting in species long
established. Shouldn’t earlier contests have selected the fittest genes once and for all,
with no need for further ones but to screen out recent and harmful mutations?
Shouldn’t the best traits have become clear millennia ago? Why need males contest
in tournaments or beauty contests every breeding season, with mostly the same
contestants, when best genes ought to have proved themselves soon after the
species began? Then there would be no genetic diversity except for recent
mutations not yet screened out. Population genetists such as Fisher, J. B. S. Haldane
and Sewall Wright had written mathematical models showing that even the slightest
selection pressures should drive a gene to fixity, and its rivals to extinction, within a
few generations if selection favored it consistently. Their argument was Malthus’
insight: breeding success is geometric. Yet there is rich allelic diversity wherever we
look. There are some gene sites in some species where the most common allele
Chapter 7 Petty’s Idea 2/3/16 6
holds frequencies under ten percent, and those frequencies are constantly shifting.
The flux proves that losers are allowed mating opportunities too, though not as
much, and leave young to compete in the next generation.
Hamilton explained why that could make sense in a paper published with Marlene
Zuk in 1982. George Williams in 1976 and John Tooby in 1980 had argued that
fittest genes in one generation might not be fittest in the next if niche pressures
varied to counter current gene choices. Tooby had pointed to parasites and
pathogens, particularly single-cell ones whose life cycle runs less than an hour. They
could evolve new strains to outflank our old defenses and call for new ones.
Hamilton and Zuk continued this theme. They suggested that genes might have long
memories, put in human terms, and might have seen the same parasites and
pathogens pull such tricks before. If some individuals in the host population still
carried the antidote gene that worked the last time the same unexpected strain
arose, or something close enough to it, hosts collectively could weather the threat if
that antidote gene could be identified and spread fast enough. Then how? Hamilton
and Zuk proposed that what winning males display in contests of singing or
croaking or agility or symmetry, or bright colors in the right places, was possession
of the genes needed to counter the current strains of pathogens and parasites.
Losers in the same contests carried genes that had proved best against strains of the
past and might come back in the future. Nepotism practiced by winners would
speed up the spread of the current antidote. But losers carried genes that had
worked against other strains that might recur. A way had to be found to keep all
those potential antidotes somewhere in the medicine cabinet. Current losers had to
be saved for later. Gene diversity was the key to group survival in the long run. The
quarterback trots to the bench on fourth down because that is better for himself and
the team than being carried to the hospital. He realizes that other players are best
for punts or field goals or defense until he gets the ball again. Selection pressures do
not favor the same traits and genes every time.
Chapter 7 Petty’s Idea 2/3/16 7
Hamilton’s Parasite Theory
My take on Hamilton’s 1982 paper, which I consider his masterpiece, is a blend of
his thoughts, Bob Trivers’ from a decade before, Richard Alexander’s, and maybe
mine. Mine sees a population arranged in local “demes” which intrabreed in most
cases for best adaptation to local pressures including pathogens and parasites. A
local strain to which the local deme is adapted might spread to other demes which
are not. Hosts in the invaded demes become sick. Female ones there intuit the
degraded conditions, breed less often, and breed mostly females (mothers can
choose) because males with their now ill-adapted anti-parasite (histocampatability)
genes will find few willing mates. This begins the part from Trivers. I’ll come to
Alexander’s later.
Mothers in the source deme see an opposite picture. Conditions are not necessarily
better than before, but they are better than in the invaded demes. They intuit this,
breed more often, and breed mostly males. The males migrate to those invaded
demes, carrying histocompatibility genes pre-adapted to the invaders, and find
willing mates there if they can show the signs. The idea that mothers choose to
breed mostly males in prosperous conditions is the other half of Trivers’ idea. The
idea that the invading parasite and the males with antidote genes might tend to
originate from the same deme may be mine.
That presupposes that females can trust the signs. Nature makes sure they can. She
provides resistant males with hard-to-feign ones to prove it. This was one of
Hamilton’s key insights. His idea has been called the “truth in advertising” theory.
Symmetrical antlers, deep croaks, accurate songs and bright colors where they
should be tell the females whose genes can be trusted. Parasites and pathogens
would fake them in afflicted host males if they could. It seems they can’t.
Hamilton, I believe, had solved three nagging puzzles at once. Why does nature
waste resources on beauty displays that seem at first glance to hinder fitness? A
Chapter 7 Petty’s Idea 2/3/16 8
peacock’s tail feathers are an encumbrance in running from predators. And why give
the expensive displays mostly to males? Why do males exist at all in species where
they contribute genes but no care?
We just saw the answer to the first. Answers to the second two again build on an
insight of Trivers in 1973. Males produce cheap sperm carrying genes alone.
Females produce eggs packed with costly nutrients. A male can pass genes to many
descendants through many mates if they approve his signs. That speeds up the fight
against parasites. Nature evolved males and their self-promoting signs and their
contests for fastest spread of antidote genes to catch up to shifts in parasite load.
Where Do Losers Go?
A key point in the Hamilton-Zuk theory is that losers’ genes in the beauty contest are
typically not driven to extinction. They are driven to low frequencies until needed
again. Kin selection, up to a point, helps maintain genic diversity by preserving
current losers within the gene pool. Selection pressures punish and restrain kin
selection when it conflicts with preservation of other genes whose time will come
again. I met Hamilton at a conference in Squaw Valley, where Bob Trivers had
helped us attract him, and told him this reason why I thought his 1982 paper helped
complete and qualify his 1964 paper. He was the absent-minded professor to
perfection. Moody, distracted, profound. He smiled, a rare thing for him, and said
“It’s been a long search.”
This explains what I mean by lineage survival or fitness. Much of this book assumes
its maximization even among modern humans, who create our own urban
environments in place of the ancestral savanna for which we were adapted. And
much of economic history, although written in cities by city-dwellers, appears to
assume the same. Chapter 2 listed some examples. Let’s review them. There was
Petty’s of 1662. The similar equilibrium wage theories of Smith and Ricardo
expected pay to converge to the level maintaining and replacing the work force,
which is trusted to spend it on both. Malthus’ population principle in 1798 and 1801
Chapter 7 Petty’s Idea 2/3/16 9
added the mechanics. Nassau Senior made that principle his first axiom in his
Outline of 1836. The biological imperative lapsed from attention when the first
generation of marginalists, led by Jevons and Menger, with Walras soon to follow,
thought it unscientific to explain or justify tastes. It reemerged a century later in
bioeconomics, much of which looked for economic implications of Hamilton’s rule.
We will see how it might clarify pure consumption and the maximand.
Enlightened Kin Selection
Hamilton’s rule needs completion because the quarterback and his genes have
figured out that the bench is better than the hospital. What really happens, I think, is
a long-range example of Bob Trivers’ “reciprocal altruism” of 1971 as generalized by
Richard Alexander. Bob wrote that creatures might invest in non-kin if the
investment were expected to be repaid with interest. Alexander added that the
repayment could be to the investor’s kin with equal genetic benefit if Hamilton’s
hurdle rb > c were cleared from the investor’s perspective. The quarterback yields
to special teams on fourth down, and they to the defense until possession changes
again, for the best interests of each and all in the long run. The interest they receive
in turn for deferring to non-kin is the cost of maintaining themselves on the bench. It
does not accrue and compound because it is paid out continuously. It is an insurance
cost that each temporary winner dares not trim. Group selection is enlightened kin
selection.
Three or four decades ago, this much acknowledgement of group selection would
have met more resistance than I expect now. It shouldn’t have. Half the beauty of the
Hamilton-Zuc scenario is in explaining allelic diversity as a result of agonistic rather
than lethal competition. Zack and Jack and their genotypes are rivals now because
they are teammates in the big picture.
Kin selection is a help until it crosses the line and becomes a hindrance. Some
mothers in the source deme will carry higher frequencies of the antidote gene than
others. They will tend to be healthier, and so able to invest more energy in more
Chapter 7 Petty’s Idea 2/3/16 10
young. If all mothers invest preferentially in their own, or maximize Hamilton’s
standard rb > c , healthier mothers will produce more young with higher doses of
the antidote genes, while sicklier mothers will produce less with less. Here it is
females who compete to prove the same better genes that males just proved in the
tournaments or beauty contests.
The race against parasites speeds up again with Trivers’ fine insight about healthier
mothers choosing to dial up the ratio of sons to daughters (“primary sex ratio”), and
to expand the reproductive period at both ends with shorter birth spacing for more
male offspring still. (Some of this may be my idea rather than his.) Nature proves
best current genes twice. Fathers prove them by duking it out or strutting their stuff.
Mothers carrying the same best genes prove it by winning the breeding contest
against other mothers after.
The ex ante/ ex post distinction counts as much in biology as in economics. Here it
accelerates the selection process. Offspring carrying the antidote gene to meet
current parasites will generally not on that account cost more ex ante invested
consumption to raise. If they are males, who can turn that advantage into many
offspring, the ex post value of that same investment can be far higher. The converse
works for offspring lacking the gene. Their mothers can make the best of it by
producing females who will find breeding opportunities anyhow with mates
carrying the gene, since she knows which they are and males always have cheap
sperm to spare, and will so keep their own genes in the gene pool.
Parasites got the last laugh by killing Hamilton on research in Africa a few years
after I met him. I never knew well enough to call him Bill. Bob Trivers called him the
deepest thinker in the world. That couldn’t be wrong by much.
Parasites and Demes
Ernst Mayr, Bob Trivers’ doctoral advisor at Harvard, defined a deme as a race or
subpopulation that intrabreeds at least 95% of the time. I hypothesize that it does so,
Chapter 7 Petty’s Idea 2/3/16 11
in some cases, to maximize frequency of a histocompatibility gene which is an
antidote to the local strain of parasite or pathogen. This idea could complement the
Hamilton-Zuc parasite model nicely. It would give a safe home to which both gene
and parasite could retreat until their times come again.
Period of Production Theory
Back to economics. Chapter 4 mentioned John Rae as a contributor to what later
developed into Mill’s free growth theory. Rae’s book, published in 1834, also begins
what was called period of production theory. The idea was that production took
time, and that profit compensated the investor’s patience over the production
period. Senior, who had sent Rae’s book to Mill, adopted this idea in his own betterknown
Outline in 1836. Rae’s book itself found few readers, despite its warm
endorsement by Mill in his own magnus opus of 1848. Jevons adopted the idea from
Senior in 1871, and Boehm Bawerk from Senior and Jevons in his book of 1889.
Boehm Bawerk soon learned of Rae’s work, and dedicated later editions to him.
Period of production theory thrives today in the Austrian School, which had been
founded by Boehm Bawerk’s teacher Carl Menger in 1871. (Menger was the guy who
squabbled with Schmoller in Chapter 2.)
It has found little favor elsewhere. The period seemed impractical to define or
measure, and so gave little predictive value. Joseph Schumpeter, a student of Boehm
Bawerk who disagreed with him on this point, argued in 1911 that the period of
production is zero; capital is present continuously. Frank Knight, who had
anticipated Schultz in realizing that some consumption is investment in human
capital, argued as Schumpeter had.
But the theory is true by definition. Any rate is the inverse or reciprocal of a period.
The inverse of 4% per year is 25 years. Return is the ratio of net output to capital
producing it, meaning the rate of production, and its reciprocal is the period of
Chapter 7 Petty’s Idea 2/3/16 12
production. Where the critics were right was in finding a lack of clarity and
predictive value in the theory. Where does it lead? Rabbits and redwoods have
different periods of production, at first glance, but should nonetheless agree in
return if in risk. Jevons wrote that he meant production of the “wage fund” as a
whole, meaning the universe of consumer goods. But he pointed to wine and timber
as examples to help pin down the period. Boehm Bawerk picked nine years for no
reason I can see.
All went wrong by considering physical capital only. The factors blend into each
other; physical becomes human capital through invested consumption, and
conversely when human depreciation is recovered in products. The generation
length gives the replacement period for total capital if total capital is interpreted as
fitness and if all fitness of each generation is passed to the next.
Jevons and Boehm Bawerk assumed growthlessness for simplicity, and would have
realized that they were modeling only the replacement component in net output.
Boehm Bawerk’s contribution, anticipated by Petty, was his insight that time
preference rate explains rate of return by pricing the capital denominator, and not
the reverse. This had not been clear in Rae or Senior or Jevons. I give all four high
marks for a near miss. But they could have come closer. Remember that Senior’s
first axiom had been Malthus’ population principle. He and the others would also
have known of Petty’s human and total capital idea, which was occasionally revived
and critiqued. They didn’t quite connect the dots.
Next Generation Theory
Petty wrote A Treatise of Taxes in 1662. The whole title continues to about as many
words, counting ampersands, as pages in the book or pamphlet. His son tells us that
Petty dictated his books overnight to secretaries who slept by turns. It is easy to
believe that Petty didn’t need much sleep. He was a go-getter who had sailed to
Chapter 7 Petty’s Idea 2/3/16 13
Ireland as chief medical officer to Cromwell’s ironsides, stayed on to survey the Irish
land with which Cromwell would pay his troops, and then got Parliament’s approval
to invest in that high-risk land to make a fortune. It is rare for a man of practical gifts
to be a deep thinker too. Petty, like my father, was both. His Verbum Sapienti of 1664
was first to apply the ancient capitalization formula to both factors, meaning
workers as well as tradeable things, and so originated the concept of human capital
as present value. He applied this insight there and his Political Arithmetick in 1676,
and again in The Total Wealth of England in 1683, to measure the total wealth of
England including human capital. That makes him the father of national accounts.
But his greatest achievements, I think came in A Treatise of Taxes.
Chapter 4, paragraph 9 of that book begins with
19. Having found the Rent or value of the usus fructus per annum, the
question is, how many years purchase (as we usually say) is the Fee simple
naturally worth? If we say an infinite number, then an Acre of Land would be
equal in value to a thousand Acres of the same Land; which is absurd, an
infinity of unites being equal to an infinity of thousands.
Petty clearly recognizes that time preference, meaning our taste for impatience,
explains productivity, or ratio of output to capital, rather than the other way around.
This powerful and counterintuitive insight is usually credited to Boehm Bawerk in
1889, who showed that it is true for man-made things as well as land. The utility or
usus fructus being a given, we bid less for the land or other capital producing it if we
are less patient, and more if more. Bidding less for this denominator of rate of return
bids that rate itself up if the numerator is a given, and conversely. That’s why riskier
assets offer higher return. Petty’s reductio ad absurdam of a hypothesis of infinite
patience is obvious in hindsight, but may not have been written down before. Petty
continues:
Chapter 7 Petty’s Idea 2/3/16 14
Wherefore we must pitch upon some limited number, and that I apprehend
to be the number of years, which I conceive one man of fifty years old,
another of twenty eight, and another of seven years old, all being alive
together may be thought to live; that is to say, of a Grandfather, Father and
Childe; few men having reason to take care of more remote Posterity: for if a
man be a great Grandfather, he himself is so much nearer his end, so as there
are but three in a continual line of descent usually coexisting together; and as
some are Grandfathers at forty years, yet as many are not till above sixty, and
sic de eteteris.
20. Wherefore I pitch the number of years purchase, that any Land is
naturally worth, to be the ordinary extent of three such person their lives.
Now in England we esteem three lives equal to one and twenty years, and
consequently the value of Land, to be about the same number of years
purchase. Possibly if they thought themselves mistaken. . . .(as the observer
on the Bills of Mortality thinks they are. . .)
21. . . . But in other Countreys Lands are worth nearer thirty years purchase,
by reason of the better titles, more people, and perhaps truer opinion of the
value and duration of three lives.
23. One the other hand, Lands are worth fewer years purchase (as in
Ireland) . . . by reason of the frequent rebellions. . .”
The “other Countreys” could include France and especially Holland, then models of
prosperity. Petty had made his fortune in Irish mortgages, and knew the years
purchase there.
But the argument is a puzzle. There is a focus on longevity and mortality, as if the
generations are providing for old age. But Petty’s overlapping generations model
cannot be much like Paul Samuelson’s of three centuries later, where a generation of
productives leaves a nest egg for retirement. Samuelson’s productives are
replenished exogenously, with children left to the imagination. Why would Petty
have mentioned their ages? And retirement at age 50, as a norm, would have made
no sense to Petty or his readers. The grandfather will stay in harness.
Chapter 7 Petty’s Idea 2/3/16 15
The one and twenty years could mean remaining life expectancy at age 50. But Petty
could easily have spelled that out, or the implied 71 year terminus. He does spell out
the ages of the three generations. Their average difference in age rounds to 21
years.
Petty’s readers, like Smith’s and Ricardo’s after, would have taken it for granted that
each generation provides for the next. “Few men having reason to take care of more
remote posterity” would have registered in the context of that provision. “Posterity”
usually meant and means descendants.
His description, like mine, is incomplete. He may mean that life expectancy is also a
factor in calculating the years purchase. If so, he apparently leaves that thought to
be followed up later. There is also room to argue that the grandfather looks two
generations ahead, so that the years purchase becomes 42 years. But that would
give the usus fructus at 2.3%. All the rates Petty reports elsewhere in the tract are
much higher. One generation length is what he seems to apply. My reading is that
the grandfather provides for the grandson by passing all to the son.
Petty’s overlapping generation insight has been one of his least noticed, just as with
Mill’s on output growth preceding and explaining capital growth. I first read of
Petty’s idea in a collection of Lionel Robbins’ lectures at London School of
Economics delivered in 1979-1980, but published in 2000. I learned from these
lectures that Gustav Cassel had published the same idea in his The Nature and
Necessity of Interest in 1903. I hunted that down. Robbins misremembered in telling
his students that Cassel had arrived at the idea independently. In fact Cassel and
Robbins both quote the same excerpts from A Treatise of Taxes that I just did. Cassel
inferred that interest rates cannot stably be less than 2% per year.
Chapter 7 Petty’s Idea 2/3/16 16
I arrived at the same idea independently, anyhow, and published it in Social Science
Information in 1989. To date it is my only publication in a refereed journal, and
remains uncited as far as I know. Alan Rogers, a biologist at University of Utah,
published almost the same idea in 1994 1 and 1997 2 . Neither of us knew of Petty or
Cassel or each other. Both of Rogers’ two papers are included in my appendix.
Petty’s great idea has otherwise remained unnoticed as far as I know.
His idea in modern terms comes from the same ancient capitalization formula.
Sumerian temples knew how to evaluate land as well as mortgages and annuities by
discounting to present value. In the simplest case, where cash flow is expected to
hold constant forever, the logic begins with the definition
cash flow rate =
cash flow
capital
.
Algebra allows
capital =
cash flow
cash flow rate
. (7.1)
Years purchase, given those simplifying assumptions, meant
years purchase =
1
cash flow rate , (7.2)
1 The Evolution of Time Preference.
2 Evolution and Human Choice over Time.
Chapter 7 Petty’s Idea 2/3/16 17
Suppose for example that cash flow rate is known to be 4%. Using (7.2), we would
figure
years purchase =
1
4%/ year = year
4% = year
4 /100 = 100years = 25 years.
4
That allows (7.1) to be reexpressed as
capital = (cash flow) x (years purchase). (7.3)
Where cash flow and cash flow rate are assumed constant over time, they become
identical to profit and rate of return. Sumerians realized that return is the universal
maximand, three millennia before Turgot wrote that down, and that competition
tended to equalize it to a current market norm. Then it would also equal years
purchase.
Petty was searching for the rationale of years purchase, and found it in the
generation length. Petty’s idea I think, and mine anyhow, could begin with
capital = means of accomplishing goals= means of lineage survival= fitness. (7.4)
Nature’s way is transmission of all fitness, meaning total capital for humans, to the
next generation. Nature cares just as much for later generations, but trusts each
generation of immediate descendants to know best what their own immediate
descendants will need for that long-range goal. Each passes the baton and retires.
We invest everything in the next generaton precisely because we care about the
ones after. Hamilton’s rule reflects this reality. Grandoffspring are only ¼ related to
Chapter 7 Petty’s Idea 2/3/16 18
donors, while offspring are ½ related. Hamilton thus predicts grandoffspring to
receive investment only when benefit/cost ratio is double. My own analysis allows
more role for group selection, without saying how much, and shifts attention from
who benefits to when.
Petty’s idea, if I understand him, is
years purchase = generation length = 21years, (7.5)
which would give
cash flow rate
1
generation length = 1
21 years
= 4.7%/year. (7.6)
This would tally well enough with rates of return and interest rates as Petty knew
them.
I would adjust Petty’s estimate of the generational length. Petty’s primogeniture
model may have been true to law and custom for land inheritance, but it is not true
to biology. I prefer R. A. Fisher’s 3 method equal-weighting all births from first to last,
and equal-weighing ages of both parents at each birth. We have some evidence that
the maternal generation length in recent decades, by that method, has run near 26
years over recent decades. If fathers are five years older on average, Fisher’s method
would arrive at 28.5 years. Rogers found 28.9 years from other sources. Then (7.6)
would give
cash flow rate =
1
= 3.5%/year. (7.7)
28.5 years
3 The Genetical Theory of Natural Selection (1930).
Chapter 7 Petty’s Idea 2/3/16 19
All this has assumed has assumed constant cash flow indefinitely. That would imply
zero growth. Only under zero growth do output and rate of return simplify to cash
flow and cash flow rate.
Now let’s model growth in. I divide the Y rule by total capital, as in Chapter 4, to get
output
total capital
=
total capital growth
total capital
+
cash flow
total capital ,
or more compactly
rate of return = growth rate + cash flow rate. (7.8)
At the collective scale, cash flow rate simplifies to pure consumption rate. That
would be written
rate of return = growth rate + pure consumption rate, (7.9)
as in Chapter 4. Then (7.6) through (7.9) allow
rate of return = growth rate + 3.5%/year (7.10)
at the collective scale.
(7.10) would be wrong if growth rate were a function of cash flow rate. I said that
politicians, and even economists to a degree, teach that faster growth needs
consumption restraint first. That corresponds to cash flow restraint in (7.10). Free
Chapter 7 Petty’s Idea 2/3/16 20
growth theory says such restraint doesn’t happen. Data say the same. I apply the
same idea in next generation theory.
My 3.5% is a rough estimate. What counts is the generation length. The length was
probably higher, and the rate lower, before medicine and sanitation lowered
mortality rates, and let two or three births per couple meet the need for population
replenishment.
The cash flow or pure consumption rate modeled at 3.5% might also vary for
reasons other than changes in the generation length. My charts show the pure
consumption/total capital rate as higher in the middle part of the twentieth century
as people drained capital reserves to keep up consumption in times of world-wide
depression. I’ll say more about these reserves.
First Interpretation
Next generation theory says in effect that R. A. Fisher’s version of the generation
length, not Petty’s primogeniture version, gives the period of production of total
capital. We would miss the point if we focused on the period production of human
capital separately. Total capital is our means of lineage survival. This reinforces my
theme that human capital does not mean humans. It means skill sets priced at
present value of foreseen cash flow. Skill sets are not enough for lineage survival.
We also need things. We should not fall into the trap of surplus value theory, which
had been taught by communists for decades before Karl Marx joined their ranks, in
supposing that skills make things. It is only half the truth. Skills plus things make
skills plus things as the generations repeat.
Nor should we make the mistake of supposing that the generation length begins and
ends uniquely from birth to birth, so that the remaining period of production grows
shorter over adult life and the time discount rate steeper. The period of a cycle is the
same at any point. The young, simply by maturing, are already investing in their
Chapter 7 Petty’s Idea 2/3/16 21
counterparts in the next generation. Each cohort (same-age group) invests
effectively in its immediate descendent. Eight-year-olds are investing in the next
generation of eight-year-olds, and so to the end. That’s why Fisher’s version of the
generation length is best. It prioritizes each cohort and gender without judgment as
to which matter more. The period of production gives our patience horizon. The
horizon and its reciprocal, the pure consumption rate, both hold the same at any age.
Cash Flow and Risk
The maximand rule notes that time preference and return vary with risk. Return is
growth rate plus cash flow rate. Is variance with risk captured more in one of these
two components than the other?
We might intuit that riskier and higher-return assets grow faster on average, over
enough time for the bumps of risk to even out. But if that tended to be true, the
universe of assets would grow progressively riskier over the decades and centuries.
That is not my reading of history. My impression is that smoother and rockier
periods come and go without overall trend. In the world we know, then, it is cash
flow rate rather than growth rate that varies from asset to asset with risk.
For illustration, consider factor risk. I argued that human capital figures to be the
riskier and higher return factor because assets tend to reflect the risk appetites of
their owners. The young are more risk-tolerant, and own human capital
disproportionately. If this higher return were reflected in higher growth, rather than
in higher cash flow, the ratio of human to physical capital would tend to rise steadily
over the millennia. Most readings have tended to see it the other way around. I
myself favor the neutral assumption that the factors keep pace. Then cash flow rate
becomes higher for human than physical capital, with 3.5% the cap-weighted
average.
Chapter 7 Petty’s Idea 2/3/16 22
Consider also the history of corporate leverage. Equities are riskier because bond
interest is paid first. If equities grew faster, however, leverage would constantly
decline. That is not what we see.
This inferred concentration of risk premium in cash flow rate is convenient for
testing. Growth and return are two of the most closely followed variables in
economics. We have no direct measure of the pure consumption rate, or cash flow
rate at the collective scale. Nor have we any direct measure of growth and return to
total capital at any scale. But we have a good idea of average return and growth and
cash flow to securities and business assets. By the maximand rule, return to human
capital should be the same but for differences in risk. I model human capital as
somewhat riskier, for reasons just given, and human capital is the larger factor.
Then if I am right in placing the risk premium within the cash flow component of
return, and in estimating average-risk cash flow rate at 3.5%, cash-flow rate to the
business sector as a whole should be somewhat less.
Next generation theory predicts at the collective scale. Collective return is implicitly
average return, and that means average-risk return. My reading of history, which
rules out progressive growth of higher-risk assets at the expense of lower-risk ones,
simplifies that to average-risk cash flow plus whatever collective or average growth
happens to be at the moment.
Don’t Grandparents Invest?
Next generation theory assumes that each generation invests all its capital of both
factors in the next within the generation length. We expect it to do the same in turn.
We care about grandoffspring too, but serve them best by trusting and enabling
their parents only.
A first reaction is that this denies the obvious. Humans today, in advanced countries,
normally live to nearly three times the generation length. (3 x 28.5 = 85.5). Even
retirement at age 65 comes eight years after twice that length. And job number one
Chapter 7 Petty’s Idea 2/3/16 23
for grandparents seems to be helping take care of grandchildren. Doesn’t that falsify
next generation theory?
Note quite. Retirement typically means dependence on savings or subsidy. The
parental generation subsidizes both the young and the old. Retirees can be
interpreted to some extent as hired though willing caregivers paid for by parents.
That explains part. The rest, I think, is best explained as replenishing a capital
reserve. Nature builds up reserves in good times and depletes them in bad times. A
rise in longevity from what is normally needed for lineage survival is a rise in
human capital reserves. Human capital is the most versatile kind. We geezers have
lost a step. But we remember how it’s done. We particularly remember how
parenting and homemaking are done, since those change least with technology.
Julius Caesar’s nanny, with a few pointers, could probably fill in as a nanny today. If
the parental generation were pulled away to fight a war, or rebuild after a
catastrophe, we oldsters could keep up the home front.
Free growth theory, abundantly proved in the data, is essential to next generation
theory. What each generation invests in the next is all its fitness (total capital). All ex
post growth, up or down, is added or subtracted for free. Catastrophes and windfalls
are the random kind of free growth. Tech gain is the accumulating “secular” (of
ages) kind. I wouldn’t put it past nature to have learned that sustained growth
means rising risk. She could adjust with reserves. We may be selected (a nicer word
than programmed) to build human capital reserves intentionally, whether or not
seeing nature’s motives for the buildup as distinct from our own, when real wealth
doubles with every generation.
That intentional or ex ante part would mean investment in the reserve. It isn’t
targeted to the grandoffspring generation, because they aren’t expected to draw it
down unless needed. All the rest of the buildup of human capital reserves in lifespan
prolongation is best explained as random free growth if my interpretation holds
Chapter 7 Petty’s Idea 2/3/16 24
water. Next generation theory is not contradicted because it describes cash flows
only. It treats all growth at the collective scale as free and exogenous.
Testing Next Generation Theory
The proxies for the pure consumption rate (Schultz’ pure consumption over total
capital) in security markets would be dividend yield for equities, and interest for
debt claims. Ibbotson Associates’ SBII (2012), Chapter 4, shows average real
interest on U.S. corporate bonds as 3.0% over the period 1926-2011. Real corporate
dividend yield rate over the period can be estimated from the same source at about
2.9%. Jeremy Siegel’s Stocks for the Long Run (2002), Table 1-2, reports data
extending back to 1802. Real return over the period 1802 – 2001 is shown as
averaging 3.5% for long-term governments, and 2.9% for short-term governments.
Corporate bond returns would have run somewhat higher.
Global Financial Data shows stock market information for 95 countries. Data for U.K.,
U.S., Germany, Australia and France begin from 1701, 1801, 1870, 1883 and 1896
respectively. My charts and tables, and my website Free Growth and Other Surprises,
show this information along with evidence for free growth.
The eighteenth century is represented by U.K. alone. U.K. then showed real price
return, dividend yield and total return at 21.4%, 7.9% and 29.3%. Volatility of
dividend yield was exceptional. From 1801 forward, U.K. averages for these flows
were 2.2%, 4.2% and 6.4%. U.S. figures from 1801 forward were 2.9%, 5.3% and
8.3%. Global Financial Data also shows collective flows for Europe and the world
since 1926. Here the figures were 3.3%, 3.9% and 7.3% for Europe, and 3.5%, 3.8%
and 7.3% for the world.
Modeling of the pure consumption rate before the emergence of security markets
could refer to the history of interest rates alone. Interest is rate of return to senior
claims. Rate of return to any claim is realization by investors net of all expense.
Chapter 7 Petty’s Idea 2/3/16 25
Investors as to interest means lenders, not borrowers. Interest rates published
historically are rates borrowers are contracted to pay. Interest rates realized by
lenders are less for two reasons. There are friction costs of due diligence,
contracting and collection. Default costs, slight when times are good, can be
catastrophic when times are bad.
Homer and Sylla describe normal contracted rates, not realized rates net of those
costs, as 10% − 40% in Sumer and Babylonia, 6% − 18% in ancient Greece, 5% −
24% in Egypt, and 4% − 12+% in Rome and the Byzantine Empire. 4 After higher
rates in the dark ages, European mortgages and commercial loans found the range
7% − 25% in the thirteenth and fourteenth centuries. 5 The range settled down to
4% − 14% in the sixteenth century, 6 and to 3% − 10% by the seventeenth and
eighteenth 7 . The authors comment: 8 “…interest rates declined during much of the
later Middle Ages and Renaissance. The earliest short-term rates quoted were
somewhat higher than the last and highest of the western Roman Legal limits. They
were not too different from early Greek rates and were within the range of
Babylonian rates… The later Renaissance rates were well within the range of
modern rates and the lowest were far below modern rates in periods of credit
stringency.” Merchants of Venice in Shakespeare’s time and long before borrowed
from banks, not from Shylocks, and at rather lower cost than merchants of the
twentieth century.
Economics and Biology
Bioeconomics has meant economics informed by biology. I argued that this
describes much or all of classical economics from Petty through Mill, then lapsed
when the marginalists preferred to do without any explanations or justifications of
tastes, and revived a century later to explore Hamilton’s rule.
4 A History of Interest Rates, Rutgers, 1996, Table 4.
5 Ibid. Tables 6 and 7.
6 Ibid. Table 9.
7 Ibid. Tables 10 and 14.
8 Ibid. Chapter 10.
Chapter 7 Petty’s Idea 2/3/16 26
I too reason from biological axioms, and from much the same ones implicit or
explicit in the classical period. But I end up framing ideas of biology in the language
of economics rather than the opposite. I begin with
total capital = means of ends = means of replication = fitness,
where fitness is understood as a stock. The concomitant flow and rate would be
output (creation of fitness/total capital) and return (ratio of the two).
Free growth theory gave the inference
optimum ex ante output = optimum controllable output
= exact offset of pure consumption, at the collective scale.
Next generation theory specified the period of this exhaust and recovery as the
generation length.
Consider Hamilton’s rule in this context. All ex ante output, continuing steadily at
the generation rate, must be invested concurrently in the next generation or stored
for later investment within the deadline. It is the problem of Brewster’s millions.
Adults must invest or store as efficiently as practical (the maximand rule) before the
output means has slipped by. And the more stored instead, the more pressure to
invest later within the deadline. Time left for investment is another of the practical
constraints on maximization of rb/c.
What I sense is a watering down of Hamilton’s rule from what seemed logical
compulsion a few decades ago to something more like a target of opportunity. A
prediction maximizing rb/c has proved its value as a useful rule of thumb. I
suggested why some nepotism might be more adaptive than none in my review of
the Hamilton-Zuk parasite theory. It’s about giving all genes a fair but speedy trial.
Chapter 7 Petty’s Idea 2/3/16 27
The quarterback gets three downs, and the batter three strikes, before they go back
to the bench. Some nepotism directs healthier mothers to invest in more and
healthier offspring, and sicker ones conversely, long enough to demonstrate which
is really which. Males passing the test carry the signs to prove it. Females choose
them to spread the antidote gene to the whole population. Losing genes and losing
parasites retreat until their time comes again.
Summary
This chapter trades my wannabe economist hat for my wannabe biologist one.
Herbert Spencer called those fields the same at bottom. I never read Spencer, and
know him mostly from Bertrand Russell’s books on the history of philosophy.
Spencer rates a subchapter there. Yet he was an autodidact with less training in
either field than mine. He even had less training in philosophy than mine. He was a
philosopher all the same, by Russell’s tough standards, and knew that logic comes
first. Data eventually prove their worth when it’s time to test. The data I’ve found
fits net generation theory more or less. What I really have on, all the while, is my
wannabe philosopher hat.
Popperians make no sense. Are we supposed to find that a rose is not a rose? Or that
all reasoning from definition is as transparent as that example? Wiles’ proof of
Fermat’s last theorem ended a search that took some pretty bright minds three
centuries. My best guess would be that Popperians confuse the concepts of logic and
question-begging. They are opposite. Logic (reasoning from definition) means
taking out no more than you put in. Truism or tautology usually means obvious
examples of the same, but sometimes includes subtle ones too. Question-begging
means taking out what you never put in 9 .
9 Circularity is question-begging which claims to take out as inference what it put in as assumption.
Assumption that Socrates is a man and that all men are mortal does not confirm that Socrates is a
man. It confirms that Socrates is mortal if assumptions are sound.
Chapter 7 Petty’s Idea 2/3/16 28
Spencer’s “survival of the fittest’ doctrine would be a truism if we could prove the
theory of natural causality. We can’t by any means known to me. Science takes it as a
working assumption. So did Hume, and so do I. If God intervenes only a little, so that
laws of nature comes close to reality most of the time, we’re still in business.
My critique of Hamilton’s rule proposed that nepotism meets resistance when it
conflicts with nepotistic goals of others. I proposed a modus vivendi through
agonistic rules. Hamilton’s parasite theory with Zuk, written 18 years later, gives the
game plan.
Nepotism, meaning kin selection through Hamilton’s rule, is in the common interest
to a point. It speeds up proof of best genes to beat the current parasites by testing
female genes as well as male ones. Healthier mothers and sisters and aunts carry
more fitness to invest in more young. And females in most K-selected species,
including humans, perform most care of the offspring and siblings and nepotes
(nephews and nieces) that receive it 10 . Male competition alone does not determine
best current genes to nature’s satisfaction. Female breeding competition and
nepotistic investment help prove them farther.
All agonistic rules are about keeping the contest fair and deciding when proof is
enough. Long-term success against future as well as current parasites needs most
losers, not all, to go to the bench (low frequencies; source demes in my version)
rather than to extinction. Most losers survived to enter the contest because they
10 The burden is about 50-50 in pair-bonding birds. Fathers look to be the only caregivers in
territorial fish such as sticklebacks.
Chapter 7 Petty’s Idea 2/3/16 29
were winners once before. Their cost on the bench, or on the taxi squad, is good
insurance.
My version of Hamilton’s parasite theory patched in some of Trivers’ ideas. One was
that mothers intuiting self-health and good prospects should tend to breed higher
primary sex ratios and conversely. Their male offspring can then find willing mates
if health carries reliable signs as Hamilton proposed. Also the investment of
insurance cost by winners in maintaining losers on the bench can be interpreted as
Trivers’ reciprocal altruism to be recovered when winners now become losers later.
My discussion of grandparental investment let still more worms out of the can. It is
clear that humans in advanced economies today normally live to nearly three
generation lengths. I proposed that we are replenishing a total capital reserve,
meaning mainly a human capital one, when recovering from hard times in the world
wars and world depression. No one really knows.
Chapter 7 Petty’s Idea 2/3/16 30
CHAPTER 8: BANKS, MONEY AND MACROECONOMICS
Splitting up Banks
I started to write a book on banks and money a year ago. I stopped when I realized
that I don’t know enough about the subject. I have some experience and have done
some reading in those fields, but not enough to justify a whole book. A chapter, or
part of a chapter, is more like it.
Sumerian temples doubled as banks, mostly for agricultural loans to finance the next
crop. It is from their records, in clay tablets, that we know they understood
compound interest and the capitalization formula.
Deposit-and-lend banks as we know them today emerged in Venice and other
European cities in the twelfth and thirteenth centuries. Chapter 1 said that equity
investors cannot be attracted at leverage (deposit/equity) of less than 10:1, that
even one tenth so much leverage is unstable in high winds, and that we rebuild the
banking system after every systemic failure because we blamed the high winds
rather than the rickety structure.
I said that the solution is to split up banks as we know them into deposit banks
which invest in ETFs on the one side, and lending banks which raise funds from
investors rather than depositors on the other. These entities would have separate
stockholders, and would not interact unless incidentally.
A different kind of bank split-up has been urged since the 2008 crash. Repeal of the
Glass-Steagle act had allowed commercial (deposit-and-lend) banks to operate as
investment banks (brokerage firms). Many blamed the crash on that repeal, and on
investment bank innovations such as mortgage-backed securities. I think those
critics are looking in the wrong direction. The problem, as with most bank crashes
over the centuries, was overleverage encouraged by nearly costless deposits. The
solution is not to peel off brokerage operations from the mix, but to peel off deposits.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 1
I see no reason why lending banks should be separate from investment banks.
Rather the depositors’ money should not be risked in either.
It is also a mistake to blame Wall Street chicanery. Chicanery is a fact of life, and
Wall Street has more than its share. But I can testify, from a ringside seat, that many
sound financiers and first-rate economists genuinely believed in the sub-prime
derivatives they were selling. They were proposed to the trusts I run. I turned them
down as a business proposition because I saw too much complexity and no upside.
But my read was that the presenters were sold themselves.
The problem is not in the people. It is in the inherent fragility of deposit-and-lend
banks. Then what would the world be like without them? The answer first needs a
closer look at the problem.
Credit Risk is More than Leverage
Some leverage is a good thing. Firms issue bonds as well as stocks in order to attract
a wider range of investors. Risk-averse investors may choose the safety of bonds,
whose interest claims are paid first, while risk tolerant ones may be happy with the
iffier but more promising equity remainder. Leverage in general is a way to satisfy
both these constituencies.
Credit risk rises with term (duration) as well as amount of debt. One of the most
telling points in Siegel’s Stocks for the Long Run is that corporate bonds of 15 years
or more have proved more volatile in real total return than equities have. No
wonder. A corporate bond will have ample debt coverage (gross profit/debt service)
at date of issuance, and an appropriate credit rating. What will both be fifteen years
from now?
Homeowners also typically borrow long-term. They expect to have children in local
schools, husbands and/or wives in local jobs, and other roots in the community. But
Chapter 8 Banks, Money and Macroeconomics 2/8/16 2
who knows that husbands and wives will still be married in fifteen years? Who
knows that if they are, their careers will not have taken them to another city?
It seems to me that reducing the dangers of debt means reducing both term and
amount, and that the solution had better find ways that still accommodate the shortterm
and long-term needs of firms and people.
Now let’s look at how deposit banks might invest.
The Omnibus Fund Idea
If I were a couple of decades younger, I would try to create something I call an
omnibus fund. It starts by seeming to contradict what I just said. I said that firms
issue both stocks and bonds to reach different constituencies. The omnibus fund
would first erase that separation. In principle it would reconstruct the firm as a
whole, or put the pieces back together again, by assembling proportionate shares of
the debt and equity claims on it in a single portfolio.
Suppose for example that the market cap (number of shares times current market
quotation) for a firm’s equity shares is one billion dollars, while the market cap of all
debt claims together in half that. Then the omnibus fund, in principle, would buy
each firm’s equities and debt instruments in that proportion at current market
valuation. In practice it could realize the same effect in a simpler way.
The omnibus fund would be a balanced index fund. Index funds are representative
of all the funds in an index, such as the S&P 500, weighted again to market cap. The
omnibus fund would pick a still more inclusive index, say the Russell 3000 or even
the Wilshire 5000. It would add in a corporate bond index, since balanced means
mixing stocks and bonds, and cap weight the two. The object would be to model the
publicly-traded corporate sector as a whole. The simplest way to get there would be
to buy index ETFs (exchange traded funds) directly, rather than duplicating their
work of assembling portfolios of the underlying individual issues.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 3
If it stopped at that point, the omnibus fund would probably attract few investors. It
would offer the aggregate return and risk of the publicity-traded corporate sector as
if it had never borrowed or issued debt. Aggregate means average. No one is exactly
average. Some like me and my father happen to be more risk-tolerant, and opt for
the higher returns that tend to come from higher risk. Some prefer the opposite.
How can the omnibus fund attract both?
The answer is derivatives. Derivatives are obligations whose benefits depend on
outcomes imperfectly foreseen. I said in the forward that I’m all in favor of them so
long as we respect and manage the risks. Equities themselves are the classical
example. Mortgage-backed securities give another. Common forms include futures
and swaps. The idea is about the same. Each typically picks an index, often the S&P
500. One party, the “short leg”, bets so much money, the “notional amount”, that the
S&P 500 index will go down tomorrow. Another party, the “long leg”, bets it will go
up. The short leg gets so much, say Libor plus 20 basis points (hundredths of a
percent) of the notional amount, in any outcome. The long leg gets the index change,
whether up or down, times the same notional amount.
No one actually invests the notional amount. It is called “notional” for good reason.
Rather each side (leg) commits a cash reserve, held by the firm managing the swap
or future, in this case the omnibus fund itself, of 20% of the notional amount. The
reserve is drawn down to meet payments required when market swings are averse,
and replenished when favorable. When it falls to 10% of the notional amount, it is
considered unsafe and the swap or future ends prematurely. Parties are warned,
and new reserves can be committed in time.
Monitoring of the reserve is continuous during market hours. Whenever the reserve
falls to 10%, even in the middle of the day, the account is closed immediately. This
discipline keeps the other party safe.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 4
Risk-averse clients in the omnibus fund can take short legs, and risk-tolerant ones
long legs. Management of the omnibus fund can handle the mechanics of the swaps
or futures.
The effect would be not less leverage per se, since leverage at the individual account
level is substituted for leverage at the corporate level. The difference is duration.
Swaps and futures are short-term commitments. Three months is typical. Futures
trade in active markets, for good measure, and can usually be liquidated in seconds
at current market during trading hours. So can ETFs themselves.
What do these derivatives cost? Essentially nothing. Those who prefer safety and
the short leg are matched with those who prefer return and the long leg, while the
manager charges only for its time in working the mechanics.
What About Asset Allocation?
Where the omnibus fund seems to violate common sense is in merging out what had
seemed to be valuable distinctions. So it would seem with the blending of equity and
debt claims, but for an optional overlay of derivatives such as futures to restore
whatever risk and expected return we want. Many distinctions blended out,
including that one, have been important to principles of asset allocation and modern
portfolio theory. They are important because some investment sectors are less
correlated than others, meaning less likely to risk and fall in lockstep. Lowcorrelation
portfolios are better because less volatile as a whole without sacrifice of
return. That’s why hedge funds typically assemble portfolios judged low or negative
in correlation, and then try to reduce correlation still further with an overlay of
derivatives. The omnibus fund seems to throw away all these options.
Not really. One of the lessons of the 2008 crash is that everything but Treasuries
tends to go down in high winds. Anti-correlation strategies failed when we most
needed them. The omnibus fund isn’t really giving up so much. Its exceptional
diversity makes it begin with less correlation than specializing portfolios. And
Chapter 8 Banks, Money and Macroeconomics 2/8/16 5
nothing would prevent a sophisticated investor in the omnibus fund from
manipulating correlation further down with derivatives as hedge funds do.
Liquidity, Risk and Return
Demand deposits in banks today can be withdrawn at any time. Time deposits
cannot be attracted without either competitive interest or quick liquidity. This
liquidity requirement has been awkward in that bank deposits are usually reloaned
for years. A run on the bank soon finds no cash left to meet withdrawals. The runs
come when the high winds blow, and provide a coup de grace on top of high default
rates.
The omnibus fund meets withdrawals easily because it is invested only in the most
liquid securities. ETFs trade in seconds at current market quotations. Any mutual
fund shares that might belong to the portfolio trade at current close.
Like most funds, the omnibus fund would also maintain cash. Like some others, it
would “equitize” its cash by exposing it to swaps or futures. Equitized cash leaves a
fund fully invested in effect, while adding instant liquidity around the clock. ETFs
give instant liquidity, but only during trading hours. Mutual funds typically trade at
market close only.
A risk-averse investor in the omnibus fund who opts for Libor plus so many basis
points is more or less in the same position as a bank depositor today. She knows
that her account will grow only by deposits and by interest (Libor plus basis points)
left in to compound. She knows that it will decline only by withdrawals. The investor
who prefers the long leg in swaps or futures, or stays unhedged, will also see her
account rise and fall with the market. There are infinite graduations around these
three simple choices. An account might be partly hedged and partly exposed, or
even over-exposed to a notional amount larger than the account size where law and
markets permit. (They usually do.)
Chapter 8 Banks, Money and Macroeconomics 2/8/16 6
Payment Mediation
Banks effect payments from depositors’ accounts. An omnibus fund can do the same.
Payments out are directed “redemptions” in the language of brokerage accounts, or
withdrawals in the language of bank accounts. Payments in are “subscriptions” to
brokers and their clients, or deposits to bankers.
All these payments can be electronic. A payer, typically a customer, might swipe a
card or click a screen. A payee, typically a vendor, typically must verify first that the
account is authentic and covers the payment offered. An omnibus fund could be well
suited to give this quick transparency.
First, it is essentially an index fund. It is composed of a published ratio of index ETFs
and index mutual funds and index-equitized cash. Individual accounts are then
hedged or exposed to index swaps or future overlays administered by the omnibus
fund itself. The fund can track all these indexes online, and knows from tick to tick
what each account is worth. This holds true even for volatile accounts where risktolerant
clients have opted for long legs in swaps and futures. So long as
management effects all payments in an out, and constructs each account of index
exposures itself, and tracks those exposures and payments in real time, it knows
account values exactly.
Risk-tolerant clients will expect daily ups and downs in account size. That means
that they will have to carry larger accounts in order to be sure of covering payments
in the downswings. That would be a problem if accounts yielded zero return, as
checkable bank deposits do. The gist of my answer to Milton Friedman was that no
amount of money is too much if it yields as much return as other assets of equal risk.
Accounts are hedged or leveraged to do so. Omnibus fund accounts burn no holes in
pockets. We do not own one to spend, like a checking account, and treat it as a drag
on earnings until spent. We own it as a fully competitive investment, and spend it
reluctantly when bills are presented.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 7
Why Invest in Indexes?
The last section showed that index funds offer easy trackability over market hours.
What are the other pros and cons?
On sound microeconomic principle, professional asset management will add value
over index results before deduction of fees. Otherwise they couldn’t stay in business.
The same principle says that the fees will converge to that pre-fee value added. Price
converges to marginal utility (value). Investors bid fees up when fees are less, and
down when they are more. As a rule of thumb, investors should expect to do equally
well in managed or index accounts when fee costs are considered too.
The mechanics of convergence is worth a look. Managed and index funds compete in
a kind of density-dependent flux like hawks and doves in game theory. It pays to be
a hawk when the hawk/dove ratio is too low, and a dove when too high. When
hawks have only hawks to fight, they will win only half the time. Fighting becomes a
losing strategy when it risks more than winning stands to gain. More doves will
mean easier contests.
So it is with asset managers. Index funds (doves) avoid commitment (fights) as to
which firms and sectors will outperform. This neutrality saves the costs of research
needed for commitment (fights). Asset managers (hawks) pay those costs, and
recover them when outperformance results. That means outperforming the index.
But if asset managers collectively managed the whole market, they would become
the index. Some would outperform others, but the whole group cannot outperform
itself. Then it could not recover its research costs. Many would have to close their
doors, leaving the field to index funds which don’t pay those costs, until market
equilibrium was restored.
Then what determines equilibrium? Is the critical variable percent of trades by
managed funds? I thought so for a while. Now I think it’s percent of AUM (market
value of assets under management). My reasoning now is that holds by portfolio
Chapter 8 Banks, Money and Macroeconomics 2/8/16 8
managers reveal informed opinion on security values as clearly as trades do.
Research cost is the same for both. If a manger neither buys nor sells, she tells us
that she thinks the price is right. The critical variable is not trade volume, but
percent of aggregate market cap controlled by asset managers collectively.
The number of asset managers is much less critical. There must be enough for
competition within each specialty or sector of investment. Too many is not a
concern. Abler ones, on microeconomic principle, will displace the less able. That’s
why Herbert Spencer taught that natural selection works the same in economics as
in biology.
A particular reason for preferring index ETFs as omnibus fund investments is for
cheaper liquidity. The omnibus fund must compete with banks in accommodating
payments and other withdrawals (redemptions). Popular index ETFs such as
spiders (SPDRs, for Standard and Poor’s Depository Receipts) are bought and sold in
seconds for a fee of a couple of basis points. So are Treasury ETFs. Thus the omnibus
fund might do best not to include actual corporate bond ETFs in reintegrating the
corporate sector. Treasuries of equal value should do about as well at much lower
trading cost. Easy liquidity is essential.
Why Omnibus?
Omnibus means for everyone as well as of everything. It is all-inclusive either way.
Individuals differ in risk tolerance. An omnibus fund provides for all. The portfolio
of index exposures to riskier equity claims and safer debt claims is meant to satisfy
average risk tolerance as a whole. Individual accounts then choose short-leg hedges
or long-leg exposure or anything between. An omnibus portfolio best matches
aggregate risk and return to individual claims on it.
Other approaches would work too. A broad-based equity index fund, targeting say
the S&P 500 or Russell 3000, could give the same tick-to-tick transparency in
individual accounts. Hedging would still be available to cater to individual risk
Chapter 8 Banks, Money and Macroeconomics 2/8/16 9
appetites within the risk-tolerant groups. A broad-based bond index fund would do
the same for the risk-averse.
It seems to me that the omnibus fund would do both jobs at once, and would attract
more clients collectively. Bigger is better for payment processing. The more clients,
the more “two-sided” payments from one client to another. These payments are
always cheapest.
If accounts cost little or nothing to open, vendors would logically need no urging to
open them. That again favors the simplicity and economy and immediacy of twosided
payments by including both buyers and sellers within the fund.
The omnibus fund is also for everyone as a investor as well as a payer. Very few
people have the time or training to beat the market. I myself have not. What we have
is a sense of our degree of risk-aversion. The omnibus fund gives the broadest and
most flexible coverage of risk appetites. It can poll and advise clients on risk
preferences, and mediate hedges and exposures to suit.
How the Omnibus Fund Might Evolve
I said that if I were a couple of decades younger, I would start an omnibus fund. Not
to worry. If the idea holds water, as I think, someone else will.
It seems to me that banks could not offer much competition. Demand deposits
typically pay no interest, and process payments no better. Omnibus clients offer an
infinite range of returns according to client tolerance for risk.
Banks offer the advantage of federal deposit insurance (FDIC). It will not be enough.
The omnibus fund carries no leverage, and needs no insurance. As it grows, banks
will take notice. They can keep up the uneven fight, or they can join the parade. My
working assumption is that many will prefer the latter. Banks are well positioned to
make the most of the idea. They have the needed expertise and systems and
Chapter 8 Banks, Money and Macroeconomics 2/8/16 10
clientele in place. They can spin off their lending operations as separate ventures to
find funds from investors rather than depositors.
If there were no FDIC, there would be no deposits and no commercial banks. People
can read the newspapers. Anyone old enough has lived through periodic bailouts.
I’m a free market fan who dislikes FDIC. But we would be rash to yank the rug from
under banks by repealing it. We shouldn’t even hint that we might. The world we
know is build around banks, and banks are built on FDIC. Let it stand. How can
anyone know for sure that omnibus funds and independent lending banks will do
better? I think omnibus funds figure to win despite that advantage for banks.
Lending Banks
This is the area least clear to me. Banks as we know them begin with expertise,
systems and clientele in the loans business as well as the deposit and payment
processing business. That could position them to take the lead in both if spun off
separately. Lending can stand alone. There are many lending firms other than banks.
They raise funds from investors seeking returns, rather than depositors seeking
liquidity, and somehow mange to compete with banks today. Lending banks
divorced from depositors could do whatever they do.
If interest rates must rise because investors demand competitive returns, some
traditional borrowers will be motivated to attract equity investment instead.
Corporations and other firms could phase out structural (long-term) debt, and float
new stock issues in its place. The effect would be to lower leverage, risk and return
together. Investors could then tailor risk and return more flexibly by hedging or
leveraging their individual holdings through professional services.
If the same rise in interest rates makes it impractical for newlyweds to buy homes,
they can rent until their means improve. In ten or fifteen years their incomes will
double. They will know if they are still married, how much house they need if so,
and where their careers have taken them. Meanwhile they might rent the same
Chapter 8 Banks, Money and Macroeconomics 2/8/16 11
house they would have bought. They will not have missed a sure-fire investment.
The crash of 2008 showed that houses are risky too. The time to commit to huge and
illiquid investments, as houses are, is after ten or fifteen years of business
experience.
I see no reason why lending banks should not make equity investments too. Loans,
convertible loans and equity investments need the same “due diligence”, or research
into prospects of success and return. All might serve the same clients. “Lending
banks” might simply be investment banks. That’s why splitting of investment banks
and commercial (deposit-and-lend) banks may be a step in the wrong direction. The
key is splitting off deposits.
Macroeconomics in General
Splitting up commercial banks into omnibus funds and depositless lending banks
could change the nature of macroeconomics. Macro has meant the art of maintaining
growth and money value stability at the same time. This has proved mostly a
tightrope walk between inflation and recession. Easy money risks the first, and tight
money the second. My idea is to disconnect the problems of underemployment and
money value instability. If medicine for one has no side effect on the other, each can
be treated more freely.
I would first dissociate money value from money supply. No supply is too large if
money earns competitive returns while we hold it. That was one of the main ideas of
the omnibus fund. Milton Friedman thought my early version of this idea was
anathema. Franco Modigliani liked it fine, but asked tough questions. I’ll try to
answer some of them below.
My approach to the problems of underemployment and the business cycle begins
with phasing out deposit-and-lend banks as I described. I more or less agree with
Chapter 8 Banks, Money and Macroeconomics 2/8/16 12
Ludwig von Mises and the Austrian school that slumps come from overinvestment
enabled by overlending. In 1928 1 , a year before the crash, Mises wrote:
Sooner or later, the crisis must inevitably break out as the result of change in the
conduct of the banks. The later the crack-up comes, the longer the period in which
the calculation of the entrepreneurs is misguided by the issue of additional fiduciary
media 2 . The greater this additional quantity of fiduciary money, the more factors of
production have been firmly committed in the form of investments which appeared
profitable only because of the artificially reduced interest rate and which prove to
be unprofitable… Great losses are sustained as a result of misdirected capital
investments. Many new structures remain unfinished. Others, already completed,
close down operations. Still others are carried on because, after writing off losses
which represent a waste of capital, operation of the existing structure pays at least
something.
Here Mises, writing in 1928, describes the crash of 2008 even more vividly than the
one in 1929. “Many new structures remain unfinished. Others, already completed,
close down operations.” These were mostly plant and office buildings in 1929, and
mostly houses in 2008.
Mises argued that money should be backed by precious metals. He was right in
thinking that it should be backed. But precious metals pay no return. The omnibus
fund earns competitive return at the risk level chosen in each account. Accounts are
owned for performance, and only incidentally for liquidity. No amount is so large as
to tempt overspending.
It did not occur to Mises that divorcement of deposits from lending might prevent
the cycle in the first place. Nor did he mention the danger of 10:1 bank leverage, and
often more, in amplifying consequences of bad guesses. His idea was better
governance of commercial banks. Mine is ending them.
Free growth theory also belongs to macroeconomics in that it predicts only at the
collective scale. It predicts that ex ante net investment, or attempted investment
1 Monetary Stabilization and Cyclical Policy.
2 Unbacked paper money. Also called government fiat money.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 13
beyond depreciation recovery, is simply less consumption with no growth to show
for it. My charts and tables show that this has been true wherever and whenever
tested, in eight economies over 40 to 140 years. We crowd our niches like other
creatures, I think, and have no room for growth except as innovation widens the
niche. The charts and tables seem to tell us that innovation costs no more in failure
rates and learning curves that daily coping does.
Macroeconomics and Keynes
Macro emerged in the 1930s under the influence of Keynes. Simon Kuznets, the chief
architect of the U.S. national accounts, was one of the five economists Keynes invited
to proof the chapters of his General Theory as he wrote them 3 . National accounts
were soon reorganized along Keynesian lines.
To read the General Theory, a beautiful work, one would think that counter opinions
were led by his close friend Arthur Pigou. But Pigou was already in print with
recommendations much like Keynes’ when it was published in 1936. Opposition
came rather from Mises, the other Austrians, Lionel Robbins and the Chicago school.
They argued that intervention tends to make things worse. So do many economists
today. Keynes believed in fiscal and monetary policy as I describe in Chapter 1. He
favored fiscal policy.
Chapter 2 said that he made a basic distinction between investment producing new
things and repurchase of things already produced. Only the first counted as real
investment. The difference matters because only the first puts plant and people to
work. Transfers neither add nor subtract value. Even so, my own language counts all
as investment, and ranks investment only by return. I make no distinction among
investment adding new plant and equipment, or investment in stocks and bonds
already issued, or in existing structures, or even under the mattress.
3 The others were Harrod, Sraffa, Joan Robinson and Ralph Hawtree.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 14
What matters is return. I don’t have to specify “risk-adjusted” return so long as I
describe the collective scale alone. Collective return is implicitly average-risk return.
I prioritize it on the reasoning that optimizing employment of people and plant is
implicit, and that optimizing means putting them to work most productively rather
than over the most hours.
If policy maximizes rate of return, at the collective scale, it will maximize true output
perforce. Return is output divided by total capital producing it. More return is more
output per unit capital. Putting idle plant and people to work, in a slump, is a step in
the right direction. But it doesn’t get the job done unless they work productively.
Even putting money under the mattress is better than investing at a loss. Zero
return is better than negative return. I accept Keynes’ distinction between new
investment and transfer payments. But I see the latter as part of the mechanics that
ends up in the former. Maximize return, and full employment will happen.
Keynes’ opposition is now mostly the Chicago school and other “freshwater” schools
bordering the Great Lakes and along inland rivers. Somehow the taste for Keynesian
intervention resonated best in “saltwater” seaboard school such as Harvard, MIT,
Stanford, and University of California. It is probably no coincidence that the
saltwater states are the “blue” ones tending to vote Democrat, while the freshwater
ones are the “red” ones favoring Republicans. (I call myself a free market Democrat,
whether or not that’s a contradiction in terms.) Freshwater views tend to oppose
intervention, but accept Keynesian basic definitions and equations such as the
Y = I + C doctrine and the distinction between “attempted saving” and investment.
It is these I question.
I don’t think much of his view that intended saving (consumption foregone)
becomes actual saving only if invested, and becomes an equal amount of physical
capital growth if it is. Then (actual) net saving, net investment and physical capital
growth would become synonymous. I said why I prefer a language where saving
and investment are synonymous in the first place. What matters is rate of return.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 15
Investment (saving) under the mattress yields only the psychic value of liquidity.
Actual capital growth depends on rate of return as much as amount invested. If
return holds the same as it was before, growth and net ex ante investment will be
equal. Growth will be less than consumption foregone (remembering the asterisks)
if return drops, and more if return rises.
Keynes saw slumps as investment deficits. I see them as return deficits. Keynes
assumed uncritically, I think, that new investment is the path out of slumps.
Investment will come when prospects of return do.
Although the General Theory was published three years before Myrdal’s ex ante – ex
post distinction, Keynes would have realized the same thing. I think he made the
understandable mistake of supposing that the difference would balance out as
random noise. The charts and tables show otherwise. The optimum ex ante
investment target is enough to offset realistic depreciation exactly.
Keynes was a great thinker, a lively writer and a decent man. I happen to endorse
some of his policy ideas. So did my father. When I asked him what he thought of
fiscal policy, I expected something like Hawtree’s “crowding out” argument:
government investment preempts and prevents private investment. I got a surprise.
My father said “When people are out of work, that’s the time to build a new post
office.” It is, if you need a new post office, because returns can be higher when
contractors strapped for options bid construction cost down.
But it is no disrespect to point that the General Theory was published 80 years ago. I
tend to support Keynes on some points, for example the usefulness of fiscal policy in
relieving slumps, but to agree mostly with Mises on their causes in the first place.
Where I differ from both is in the fundamental anatomy.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 16
Stabilizing Money Value
Modigliani’s main critique was that money earning full competitive return, so that
no amount was too much, would make monetary policy impossible in its usual
forms. My best answer at the time was that full-return money ought to remove
inflationary or deflationary pressures. But I agreed with him that money value
might drift, even so, and that some control would be a safeguard if someone could
think of a way.
The best that occurs to me is continuous revaluation of the dollar. Legal tender laws
specify dollars, or other currency in other countries, as the default means of
payment recognized in satisfying money obligations. Laws could be changed to
specify real dollars instead. Real means corrected for inflation or deflation.
This would have been impractical before the information age. The problem now
seems less. Spendable money, called M1, now means currency plus checking
accounts. Government publishes current inflation figures online. Omnibus accounts
could adjust automatically. They might show values in nominal and real dollars both.
Account value would not change. Correction for inflation would show fewer dollars
worth more each. Correction for deflation would show the opposite.
Currency itself cannot adjust so elegantly. It would remain legal tender, but not
necessarily at face value. Currency would impose a translation cost on its spenders
and receivers. Say for example that the change in legal tender laws was effective as
of January 1, 2020. The real value of the dollar, whether accounts or currency, would
mean its value of that baseline. Nominal value would be that plus inflation since.
Calculators or iPads could keep track of the conversion rate. The cost and nuisance
of this conversion should be manageable. But it would probably reduce demand for
currency where cards or the equivalent do as well. The benefit is in encouraging
long-term contracts and saving “menu change costs.” That means costs of changing
prices. There is no need to change them on account of inflation if prices are specified
in real rather than nominal dollars.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 17
Price stability can matter. The United States has managed to avoid double-digit
inflation since the Volker reforms of the 1980s. But the danger remains. Modigliani
was right to worry.
A law making real dollars legal tender might prompt better measurements of
inflation. Many economists agree that our official ones overstate inflation by
allowing two little for quality improvements. A Lexus or Tesla is not a Model A. That
was the theme of the Boskin Commission report to President Clinton in 1995. The
Boskin panel argued that quality-corrected inflation has run about 1.1% less than
the numbers posted in the consumer price index (CPI). I think so too. But making
real dollars legal tender, even by these imperfect measures, could still give more
confidence in long-term commitments than the status quo.
Speeding Up Fiscal Policy
Designating real rather than nominal dollars as legal tender would amount to an
unfamiliar and more direct form of monetary policy. Meanwhile devolution of banks
into their separate deposit and lending functions, along with emergence of omnibus
funds, need put no constraints on fiscal policy.
Fiscal policy has prescribed tax cuts and government spending in slumps. It
prescribes the opposite, at least in principle, in booms. A problem is that it has
proved slow to implement. There is an “inside lag” while government diagnoses the
problem and calls for a vote in the legislature. An “outside lag” follows until taxes
come due and spending programs are put together and gradually put plant and
people to work.
The inside lag is unavoidable in a democracy unless the executive branch, or an
independent agency like the Fed, is given standing limited authority to diagnose
early signs of unemployment, and to address them with tax cuts or spending. And
there must be enough outside lag to make sure that the medicine has good
prospects in rate of return. Return comes first.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 18
Tax cuts can be faster-acting than spending programs because they obviate the
construction period. Freshwater economists argue plausibly that they are likely to
prove ineffective. They foresee “rational expectations” of taxpayers as predicting
eventual restoration of the taxes when full employment resumes. This gives a
motive to save the tax cut rather than spend it as intended. I see it a little differently.
Most consumption is maintenance or investment to keep up human capital. We will
need that earning power when taxes are restored.
Say’s Law
Jean Baptiste Say, in writings I haven’t read, argued two centuries ago that supply
creates its own demand. The logic is sound to a point. The claims on output simplify
to pay plus profit. The asterisks don’t matter here. Thus pay plus profit is always
enough to clear that market. There could be “partial gluts” when we produced too
much of one thing and not enough of another, but never a “general glut” where
production got ahead of our means to pay for it.
All too true. Consumption plus investment equals pay plus profit. But the sad fact is
that profit can be negative. Deadweight loss happens. When it happens, at the
collective scale, even pay claims may be left unsatisfied. Say’s law gives no comfort
except where outcomes are as expected.
Tax Considerations
Schultz in 1962 argued that educational (human) capital is overtaxed. What he
wrote was: “The established tax treatment takes account of both depreciation and
obsolescence in the case of physical capital, but this accounting is not extended to
human capital”. He was right. Income tax is charged on net profit of firms and pay of
workers. Pay measures gross realized work including human depreciation.
Tax laws now counter that imbalance by applying lower rates to pay as “earned
income”. If we could measure human depreciation, or model it with enough
Chapter 8 Banks, Money and Macroeconomics 2/8/16 19
confidence, we would know how much correction was enough. That’s a reason to
take depreciation theory seriously.
Market-Valued Capital in Macroeconomics
Another reason why macro should be reconceived from scratch is that its defining
equations, written mostly over half a century ago, leave out capital. Change in capital
shows as net investment, but capital itself stays outside. Flows are considered
sufficient for description.
Piketty, a good economic historian, tells us that this did not have to be. It seems that
the largest economies had good records of market-valued capital since the latemiddle
nineteenth century. Piketty does not speculate why macro and national
accounts ignored them when both took form in the 1920s and 1930s.
Physical capital and its changes can be measured at market or calculated by the
perpetual inventory method used in balance sheets. I showed in Chapter 2 why that
method is not the best. Depreciation accounting assumes norms in the loss of capital
value with time, and gets the news of actual outcomes long after. National accounts
reported positive real net investment, meaning growth in capital value, in 1929,
1930, 1937 and 2008. They give little clue to reality in years of surprise.
The neglect of market-valued capital in macro and the national accounts until 1990
or so may have to do with the influence of Keynes. The General Theory includes
some hilarious broadsides on the fickleness of market speculators. He put more
trust in the sober disciplines of accounting. Piketty trusts the market more, and so
do I.
Then why does Piketty track new investment, or change in capital, by the accounting
methods used in national accounts? That seems inconsistent. My charts and tables
track it at market. It seems to me that national accounts should track it both ways,
Chapter 8 Banks, Money and Macroeconomics 2/8/16 20
and let each economist decide which version is more useful. Mine, at least, correctly
describes those same four years as losing ones.
National Accounts Overall
It seems to me that national accounts are doing nothing wrong except in modeling
the depreciation curve from misleading sales evidence. Evidence seems to show
depreciation as fast at first, and slower later. That tends to be true when depreciable
assets are actually sold. Structures tend to be customized for their original owners
and occupants. They tend to be resold when results are disappointing. This
disappointment often comes when expectations are first tested. When distressed
sellers market illiquid structures customized for themselves, prices too will be
disappointing.
Better to trust evidence of structures intended in the first place to pass from owner
to owner, as with many standardized rather than customized apartment and office
and warehouse buildings. Better still, from an economist’s viewpoint if not an
accountant’s, is to trust logic. Capital is present value of expected cash flow. Its loss
of value with time, under simplifying assumptions, is the present value of the most
distant and most discounted cash flow. Depreciation of structures we keep, rather
than sell, is least at first and greatest at the end. It is the same as with a levelpayment
mortgage.
National accounts are nonetheless a magnificent achievement. They need
interpretation just as corporate accounts do. That’s where economics comes in. And
national accounts are not resting on past practices. They can be congratulated on
including market valued capital, even if sixty years too late, and on extrapolating it
backward where practical. This book could scarcely have been written if they hadn’t.
I would recommend the obvious next step. Net investment should be shown
alternatively as change in market-valued, and output as that plus consumption. Let
economists decide which version is good for what.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 21
National Wealth Including Human Capital
By definition, pure consumption rate is pure consumption divided by total capital.
This can be arranged as
total capital =
pure consumption
pure consumptionrate . (8.1)
Next generation theory modeled the pure consumption rate as 3.5% per year.
Historical data showed dividend and interest rates as more or less in this region
since Sumerian times. I model pure consumption as about three fourths of all
consumption. I take consumption as personal consumption expenditure (PCE) plus
government consumption expenditure (GCE) per the national accounts.
GCE includes government outlays, at all levels of government, on education and
welfare. These are easily recognized as consumption. It also includes costs of law
enforcement, national defense, fire control, and maintenance of infrastructure such
as highways and water systems and government buildings. These too count as
consumption, even if we mightn’t have thought so. They are part of the cost of our
survival. That’s why I agree with Kuznets and tradition, although I didn’t always,
that consumption includes all of GCE.
PCE in 2015 shows as $12.429 trillion. GCE is reported at $2.5855 trillion. Both are
in 2015 dollars. their sum is $15.0145 trillion. Three fourths of that is $11.2609
trillion. Then (8.1) gives
total capital =
pure consumption
pure consumptionrate = $11.2609
.035/ year
= $321.74 trillion,
in 2015 dollars. This rough estimate can be borne in mind when we evaluate the tax
base and the risk of national debt. U.S. public and private debt together has been
Chapter 8 Banks, Money and Macroeconomics 2/8/16 22
estimated at a little less than a fourth of this sum. My impression is that this
exposure is not yet dangerous. But it needs watching.
The best method to estimate aggregate adult human capital separately is Petty’s. It
is present value of future human cash flow. That means pay less invested
consumption. If I am right, meaning that Farr, Marshall and Kiker are wrong,
invested consumption is negligible among adults. Then Petty was right to capitalize
pay with no deduction. And he was right to capitalize aggregate current pay, with no
need to model the future. Growth of pay will tend to match growth of human capital.
The discount rate to find its present value is expected rated of return. Rate of return
is growth rate plus cash flow rate. Evaluating human capital as constant current pay
discounted by cash flow rate alone will give the same answer as if we modeled in
expected pay growth, but then discounted at cash flow rate plus the same projected
growth rate.
Total human capital is adult capital plus that of the young. That part might be
measured at current cost. I won’t attempt either of those calculations here, since
they seem to call for economists expert in interpreting national accounts.
To Do List
Books and papers on economics tend to lead to “policy prescriptions”. That means
recommendations on what governments and markets and educators should do. My
list begins with getting rid of the double tax on dividends. To get democrats on
board, make the effect revenue neutral by raising the corporate tax rate. Dividend
rates have been far too low for about 50 years now. They should average 5% to 6%
real, as they did in the nineteenth century. The result of low dividends has been
dangerous overinvestment in the private sector, with growth hampered rather than
enhanced. Charts and tables make it clear that ex ante investment beyond
depreciation recovery is deadweight loss.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 23
I would tax capital gains as much as ordinary income for the same reason. Level the
playing field. Solow saw most of the truth, but didn’t go far enough. Mill saw more.
And even Mill stopped short. All we have to do is look at the charts and tables.
Capital accumulation does not exist. Any attempt lowers consumption with no
growth to show for it.
Keep track of national wealth including human capital by my method here, and also
by Petty’s of 1664, 1676 and 1685. What would we think of corporate management
that added up only the smaller part of corporate assets? We now consider physical
capital only. Political parties debate what taxes and the national debt should be
without the key facts.
Policy prescriptions can also aim at schools and what they teach. Macroeconomics
should start over. It reached most of its present form in the “years of high theory”, in
the 1920s through 1950s, without the concepts of human capital or market-valued
capital. It is founded on the inaccurate Y = C + I equation and the concomitant belief
that output equals pay plus profit. It recognizes ex ante – ex post distinctions only
crudely as to saving, by taking it as either invested or uninvested, and not at all as to
investment itself. By missing the lag between market effects and book reaction, it
misreads some of our worst years as our best and conversely.
The path forward is omnibus funds and devolution of commercial banks. Bank
reform along the lines I suggested should need no help from lawmakers. But for
gosh sakes, let’s not set up barriers against it. Commercial banks and 10:1 leverage
make slumps inevitable. Crashes are as sure as death and taxes until we phase them
out.
Summary
Macro has meant a tightrope walk between the risks of inflation and recession. That
doesn’t have to be. The problems are detachable. Even today, It should be practical
to redefine legal tender as real or inflation-corrected dollars. But the deeper
Chapter 8 Banks, Money and Macroeconomics 2/8/16 24
solution is to devolve commercial banks into their separate deposit and lending
functions, with separate stockholders and only incidental interaction.
It is best for the free market to do this alone. The omnibus fund could be the decisive
innovation. It too is possible today. It would offer clients full competitive return, so
that no supply would be too large. It would match bank deposits in liquidity and
payment services with the low service charges typical of other index funds, while
tailoring risk and return to client needs with essentially costless derivatives. The
intention would be obsolescence of bank accounts, and devolution of banks in result.
Deposit-and-lend banks, inevitably leveraged at 10:1 or more, are the weak link
explaining economic collapses about once a generation since the system was
founded in the Renaissance. Misdeeds and misguesses and world events were only
the proximate cause. Chicanery will be with us forever. Honest bad judgment will be
with us forever. Supply shocks, as when OPEC raised oil prices in 1973, will be with
us forever. Wars will be with us forever. Setbacks for our trading partners will be
with us forever. These bring the high winds. I don’t foresee much payout in trying to
dial down the winds by upgrading human nature. The payout is in stabler structures.
The big bad wolf huffed and puffed, and the brick house stood. Omnibus funds will
carry no leverage. Accounts themselves will be levered to taste, but for short periods
only. Futures trade in seconds. The fund as a whole cannot become worthless until
each and every security in its portfolio does. High winds and leverage can wipe out
the accounts of risk-takers who chose the long leg, but not of those who opted for
contractual interest and safety. That’s as it should be. Risk-takers may name their
poison. Omnibus means for all, and all-inclusive.
Derivatives are central to the omnibus fund idea. Some see them as dangerous. They
can be. They are powerful. But they have a good track record of performing as
contracted. Cash reserves, called margins, have proved enough to escape default
Chapter 8 Banks, Money and Macroeconomics 2/8/16 25
even in 2008 and the flash crash of 2013. Short legs have been protected without fail,
and long legs have got what they bargained for. The reason is that margin
sufficiency is monitored from tick to tick. Checking every few seconds doesn’t rule
out every doomsday scenario, but gives about as much confidence as we’re going to
find in this uncertain world.
Saltwater and freshwater schools debate the wisdom of fiscal and monetary policy.
But both sides frame their arguments in Keynesian language. I find it wanting. The
idea that intended consumption is either invested or not, and realized in equal
capital growth if it is, misses the essential mechanics. It measures employment of
plant and people in hours rather than in production. This is a good reason why
macro should start again from scratch. Another is to recast its basis equations in
terms of market-valued capital as well as flows. Another is to accommodate human
capital, for example by substituting the pay and Y rules for the doctrines that pay
measures work and that output is investment plus consumption.
None of those good reasons refers to the possibility of omnibus funds. They are only
a gleam in my eye. If they come to pass, and succeed as I imagine, macro will have
still more novelty to digest. If they lead to devolution into separate deposit and
lending banks, with the deposit banks operating as omnibus funds, good riddance to
the 10:1 leverage that has brought down economies every generation or so since
Marco Polo’s time.
The lagged flow method of assessing efficacy of ex ante investment is outdated by
the simultaneous rates one outlined in Chapter 4. It should go to honorable
retirement whenever market-valued capital is available. It superimposes the
inevitable unintended lag of accounts themselves, even under best practices, onto
the intended one needed for the new tree planted to bear fruit. Both lags blur
causality.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 26
Some famous economists are tougher on the current state of macro than I am.
Recent books argue that it should no longer be taught, and should receive no Nobel
prizes. My diagnosis is about the same. But my prescription is opposite. Reconceive
it from scratch, and teach it right. Award Nobel prizes to those who help. My first
nominees would be Piketty and Zucman. Not that I think much of Piketty’s
arguments. But his website with Zucman is as powerful a new resource for
scholarship and the database as national accounts were eight decades ago.
Chapter 8 Banks, Money and Macroeconomics 2/8/16 27
CHAPTER 9: SO WHAT’S NEW?
To claim originality in any field is rash. It is safer to say that some things in this book
are new as far as I know. I know at least what I can’t remember reading elsewhere. I
am more confident in judging what will surprise in the sense of conflict with what is
taught today. There we need only keep up with the current conversation. Judging
originality with confidence means having read everything before.
My surprises were not all new, and my novelties (if such) where not all surprises. A
few ideas met both descriptions. They pay rule, and the equally heretical Y rule,
probably count as both although Becker came within a step of getting there first.
Depreciation theory is likely to be both. Other possible candidates might include my
observation that holds by money managers reveal prices as clearly as trades do, and
my hawks-and-doves analogy inferring from this that index funds should
outperform managed ones when aggregate AUM held by money managers, not
trades by them, exceeds a critical percentage of the market to be determined. There
may also be both surprise and novelty in my suggestion of monetary policy by
establishment of real dollars as legal tender. In my wannabe biologist role, I just
may have been first to the point out the gaffe in the math of Hamilton’s rule.
Free growth theory takes Mill a little farther by ruling out growth by thrift at the
collective scale. It should prove a major surprise to lawmakers, who incentivize
thrift in the name of growth, and a milder one to economists already prepared by
the insights of Solow. My possible originality here was in the simultaneous rates
equations I derived to test them, and the test itself accessing data for market-valued
capital as well as consumption from the Piketty-Zucman website. My definitions of
market-valued net investment and net output, substituting for the book-valued
versions used in national accounts, were essential for testing. I suppose these rank
as novelties but not surprises.
Chapter 9: So What ‘s New? 3/17/16 1
The advantage of the simultaneous rates test over the standard lagged flows one is
great. It avoids both lags, meaning the intended one to allow more capital to show
its effect in more output, and the unintended one in the inherent unresponsiveness
of accounts to market effects on capital already booked, while also gaining from the
superiority of market measures of capital growth over book ones even when lags
end. The method itself is no surprise because the math is high school algebra. The
shock is in what it reveals. Solow and Denison were righter than they knew. There is
no such thing as capital accumulation at the collective scale.
Risk theory is probably both marginal novelty and marginal surprise. The part that
might be new, although obvious in retrospect, is that assets take on the risk
characteristics of their owners. We knew all along that people buy assets to fit their
own risk profiles. There may be novelty in my idea that it works the same in the
opposite direction. Assets once acquired are modified to fit those profiles better. A
family home bought by a drug dealer might become a crack house bringing higher
expected return at higher risk of confiscation by authorities.
The next step was to connect risk profiles with age and gender. It seems well
established that risk tolerance peaks in the teens and twenties, particularly in males.
It drops steadily afterward for both sexes. R. A. Fisher in 1930, and Bob Trivers in
1972, suggested why. Males, in humans, produce thousands of cheap sperm.
Females produce eggs, which are few and expensive because they are packed with
nutrients. Young males might end up leaving dozens of offspring or none. Nature
arranges competition to determine which. Females are reasonably sure to leave a
few. They have less to compete about. As both sexes get past their 20s, their
remaining reproductive chances grow fewer and competitive ranking clearer. There
is less to compete about. Risk tolerance grades steadily down with age, and capital
owned reflects the change with lower risk and return. This gives the basic theme.
The next key information was that human capital is owned disproportionately by
the young. We own little else until independence at age 20 or so. Physical capital
Chapter 9: So What ‘s New? 3/17/16 2
builds from then on, and peaks near retirement. But human capital grows quickly in
the 20s and thirties too, as most human and other depreciation is concentrated
toward the end. These are persuasive reasons to think that human capital is the
riskier and higher-return factor overall.
The argument becomes complicated in that most investment in us before
independence comes from parents rather than from self-invested work. Parents
have a a strong say in what risks children run, so that parental risk tolerance
governs too. But it governs most in pre-teen years, when parents themselves are
passing through their own risk tolerance peaks. And human capital is probably the
most versatile of assets in adjustment to our tastes for risk at the time. Cops can
become robbers at will, and robbers can get religion.
We should not slip into the error of concluding that an individual’s human capital is
riskier than her physical capital at the same time. Both adjust to her current risk
profile alike. That’s why the parable of the boss and her secretary falsifies the notion
that pay compensates realized work and nothing else. That would make return of
each in her human capital a little over 100% per day at the start of the last day, and
100% per second at the start of the last second, even while their security portfolios
reveal their time preference rates as a few percent per year. Human capital is not
inherently risker, as hand grenades than nerf balls. Each cohort adapts all its wealth
of both factors, counting balanced security portfolios as single assets, to its single
characteristic risk profile. There may be novelty, but not much surprise, in this
projection of the owner onto the asset rather than conversely.
That parable helped confirm the pay rule and explain age-wage profiles. It brought
another surprise along the way. I grew up being told that houses are safe
investments. But in fact they are owned by about the same age group and gender
mix that owns the business sector. The publicly traded corporate sector is a part of
the business sector that has given up return for safety by providing instant liquidity
to shareholders. The notion that houses are safe took a punch in the gut in 2008. The
Chapter 9: So What ‘s New? 3/17/16 3
notion that they ever were rests pretty much on evidence bolstered by government
subsidies such as FHA and FNMA and FMAC which began before I was born. As it is, I
don’t see enough evidence either way to assert whether houses or the publicly
traded corporate sector, cap-weighting its stock and bonds, should be risker. But
even that uncertainly is a surprise in view of what we all were taught.
Depreciation theory is one of my favorites. It doesn’t upset the applecart as much as
the pay rule does, because little economic theory depends on it. I love it because it
reverses tradition precisely. National accounts model depreciation as declining
exponentially. I model it as rising exponentially. It’s the same equation with a plus
sign in place of a minus sign. I love its obviousness once we think about it. It follows
when we remember the present value rule. Once we do, evidence for both factors
makes more sense. Depreciation theory rounds out the pay rule in explaining how
pay can rise or hold steady to the very end. And we see the same in businesses.
Gross realized profit, analogous to pay, does not tend to decline as firms approach a
date with the wrecking ball. My impression has been that rents go down when
properties aren’t kept up or locations become unfashionable, but not with age in
itself. When it’s time to demolish and rebuild, premises are more typically vacated
with trade still running at norms. Gross realized profit is inevitably all depreciation
on the last day, and would approach zero steadily if tradition were right.
There may have been minor novelty in my derivation of my three fundamental
theorems as at least subjective certitudes following from definitions, and in my idea
itself of subjective as distinct from empirical certitude. A subjective certitude is one
such that contrary evidence would falsify the convergence axioms. I have found little
or no empirical certitude past the cogito. I concede that the idea of subjective
certitude is impertinent. How dare we infer what people must think?
We dare when we infer from definitions. I began with the somewhat unusual
definition of capital (value) as perceived means of foreseen taste satisfactions. The
usual “means of production” is equally valid, but less suited to my purpose here. I
Chapter 9: So What ‘s New? 3/17/16 4
then pictured a future instant’s worth of expected satisfaction. Its perceived value at
that future moment would give its perceived value now save for differences
explained by the time gap between. I adopted the old terms time preference or time
discount rate to account for whatever they might be. There was no assumption as to
whether the rate should prove positive or negative or zero, nor that the same rate
should apply to other future instants. My goal was to leave not even the farthestfetched
of loopholes. If I have succeeded, the present value rule followed as
subjective certitude giving exact expectations, though not outcomes, for each future
instant and thus for all together. Note that my depreciation theory follows, but with
the caveat that the version I have shown adds the usual assumption that time
preference is positive. That part is not certitude, although neither are we likely to
doubt it.
It was not hard to derive the maximand rule as the next step. Once we define tastes
or more generally aims as whatever behavior reveals, the rest follows quickly.
(Remember that I have no problem with mutually circular definitions.)
There were probably a few heuristic novelties. The parable of the boss and her
secretary might itself be new. So might the slave paradox with its parable of Phil and
Bill. Many including Adam Smith have pointed out economic inefficiencies in slavery,
moral criticism aside. I can’t recall mention of this most obvious one. Bill’s
maintenance consumption was taste-satisfying cash flow to Bill, and capitalized in
his present value to himself. It is pure expense to Phil once Bill is enslaved. If all but
one of us were enslaved by the one left, national output would drop by substantially
all maintenance consumption on the books of the one slaveowner.
There may also be minor novelty in my analogy between accounting for the firm and
accounting for human capital in Chapter 6. One possible example is my use of the
term “decapitalization” to include depletion and liquidation in sale as well as
depreciation. It simplifies to depreciation in the case of human capital because that
factor cannot be alienated in reinvestment or gift or sale. One inference was that
Chapter 9: So What ‘s New? 3/17/16 5
deadweight loss, negative output, negative realized output and unrecovered
decapitalization all mean the same. This is obvious enough, but may have been left
implicit before.
Chapter 9: So What ‘s New? 3/17/16 6
CHAPTER 10: THREE PANTHEONS
A few weeks ago I was being interviewed about my opera “Usher House”. How
would I like to be remembered? With a straight face, I said I would like to be thought
the best composer since Mahler, the best poet since Masefield, and the best
economist since John Stuart Mill. The interviewer looked startled. Was she talking
instead to the successor of Don Quixote, Emperor Norton and Walter Mitty?
Probably. But not to worry. Fantasies are good things. They don’t become delusions
until we start believing them. What I believe is that at least dozens of composers
have the knack. There must be hundreds, considering the terrific film scores
attributed to names new to me when I hang on for the credits. Each of us, very much
including film composers, gives the world what we think it needs. We like to be
appreciated, but we don’t give a fig what it wants. We won’t always agree on what it
needs. We’ll defend to the death the other guy’s right to his message. But we prefer
our own. That’s what my answer meant. We’re each the best. But I do have the
temerity to limit the list to those few dozens or hundreds.
Someone might also be surprised at my choice of benchmarks in verse and
economics. Masefield and Mill? A consensus might have picked T. S. Elliot, say, and
Lord Keynes. Masefield and Mill are likelier to be remembered as old-fashioned
fuddy-duddies already outmoded when they wrote. But that’s me. I am Don Quixote.
Not a single idol in my pantheons in those three fields was born after 1900, although
that could change in economics.
My pantheon in music is Bach, Beethoven, Schubert, Wagner and Mahler. Mahler,
the last-born, died in 1911 at 51. What about Mozart? Clearly colossal. Listen to the
slow movements of almost any of his piano concertos. Childlike simplicity, then a
slight surprise, then another, and all at once we are on a trip through the stars. But
my top five show us more. Mozart is too darned enigmatic. He is too darned coy. He
is too darned third-personal. And I like breaking a sweat. Mozart is uniquely the
Chapter 10: Three Pantheons 2/10/16 1
greatest at what he does within the bounds he chooses to set. But I like answers as
well as questions. The five in my pantheon give me those.
Mozart is unrivalled at what he does because no one else plays the same game. What
other composer has put such a premium on delicacy, on poise, on self-effacement?
That doesn’t deny that he was a red-blooded mensch who loved hijinks and good
times as much as the rest of us. His Rondo alla Turca is one of many masterpieces
showing that side. But it only rounds out the impression of a flawless dinner
companion. A maxim of classicism in the Greek spirit is “nothing in excess”. Mozart’s
exuberance and hijinks were just the right amount.
He was the master of moderation. His operas put passion mostly in the mouths of
clowns and villains such as Papageno and Osmin and Queen of the Night. His
sympathetic sorts have feelings too, but keep them circumspect. The perfect
companion cares first about our feelings, not his. Mozart remains that even on our
journeys together through the stars. We are kept safely away from the heat. We are
allowed to feel anxiety because the world is so far below. That was half the point of
the trip. The other half is the happy ending as he leads us safely home. Anxiety, but
not in excess.
That shows him as the master of levitation. Richard Strauss gives the example of
Susanna’s aria “Voi che sapete” (you who know) from Figaro, an innocent ditty
which somehow never lands on the tonic (home note) until the end. The beginning
of Eine Kleine Nachtmusik (a little night music) does this again. But the slow
movements of his piano concertos show it best.
Mozart is not my pantheon, even so. He is moderation in excess. I like the game the
others all play. I like a sense of the first person singular. The five in my pantheon
also take us through the stars. But they take us closer. We feel the heat because they
do. Listen to Bach’s chaconne for solo violin, or passacaglia and fugue for organ.
Listen to the heilige dankgesang (holy song of thanksgiving) from Beethoven’s
Chapter 10: Three Pantheons 2/10/16 2
quartet opus 132. Listen to the slow movement of Schubert’s two-cello quintet opus
163. Listen to Wagner’s liebestod (love death) from Tristan, or Mahler’s adagietto
from his fifth symphony. This music plays for keeps.
The polar opposite to Mozart would be Verdi. Like Mozart, he is not in my pantheon
but close. For Verdi, no passion is too much. He is the master of contrast. He shakes
our emotions back and forth as a dog shakes a rat. Lull and storm are each given
enough time to pack the most punch in the other. He wants only opposites and
extremes. What would the fastidious Franz Joseph have thought? He would have
called the guard.
Somewhere between Apollo and Dionysus, between relativism and frenzy, lies the
true path. The five in my pantheon have found it.
I seldom call myself a poet, since that’s already a tad vainglorious. For better or
verse, I’m a Jack of that trade too. The true poets in my pantheon begin with Keats
and Masefield. I haven’t found a clear choice for third. There are awesome things in
Milton, Blake, Coleridge, Tennyson, Emily, Houseman, Robinson, Dowson, Yeats and
others.
Shakespeare, like Mozart, doesn’t figure in the center of the picture. I take him as the
greatest mind and soul yet known, the greatest playwright, the greatest writer in
general, and all of these because he taps to the bottom of what poetry can be. “Who
is this whose grief/ Conjures the wandering stars, and makes them stand/ Like
wonder-wounded hearers? It is I, /Hamlet the Dane”. Holy mackerel! But these are
touches in his plays. Poetry, in his time, meant something too coiffed and pretty and
mannered for my taste. You can take Venus and Adonis, the Rape of Lucrece, and
the sonnets. That includes the petulant dark lady sonnets, which break the model of
preciousness but find nothing better. Shakespeare simply came along too early. I
credit Milton, in “Lycidas”, for discovering the true vein a few decades later.
Chapter 10: Three Pantheons 2/10/16 3
That leaves economics. Here I really have a one-man pantheon in Sir William Petty. I
suppose that I am the only person to have looked at his portrait alongside Isaac
Newton’s, in the Royal Society which they co-founded, and seen the two as
intellectual equals. Mill seems a clear second, thanks to his superb paragraph on
growth. The candidates for third seem well behind. Maybe Jevons or John Rae or
Leon Walras. Time has not been kind to the teachings of Keynes. I would now rank
his teacher Alfred Marshall higher. I like Myrdal’s magnificent ex ante – ex post
distinction. Boehm Bawerk and the Austrian school are underrated. The pantheon
might have room for him.
Am I being too tough on later economists? We should not forget Schultz and Ben-
Porath. Schultz’ greatest achievement, unless Mincer beat him, was in spotlighting
human depreciation. That left me to ask where this huge flow goes. The answer
becomes inescapable once we focus on the question. It gives the obvious solution to
the age-wage problem. Everything in this book is obvious. Some of it, like that
solution, is the obvious but unnoticed.
Somebody, sooner or later, breaks the news about the emperor’s new clothes. You’d
think Don Quixote would be the last to pipe up. No one in the world was more
devoted to tradition and beautiful creatures of the mind. But it takes a fool. He was
that, and so am I. Der reine tor. There have to be a few of us always. We’ll get a few
windmills before they they get us.
Chapter 10: Three Pantheons 2/10/16 4
APPENDIX A: The Argument in Notation
Output and Cash Flow
My focus will be on absolute rather than per capita values. The usual custom gives
capital letters for the former and lower-case ones for the latter. I will prefer the
upper case for stocks and flows, and the lower one for rates. That need not hold true
for Greek letters.
The total return truism can be notated
Y = !K T
+F ,
(A1.1)
where Y is output, K T
is total capital and F is cash flow. Also
F = τ +C P
and τ = τ +
−τ −
, (A1.2)
where τ (tau) is net transfer, τ +
is transfer out, τ −
is transfer in and C P
is pure
consumption (exhaust in taste satisfaction). Cash flow is the net of positive less
negative components. I define them by
F +
= τ +
+C p
, F −
= τ −
and F = F +
−F −
. (A1.2a)
At the collective scale, where transfers cancel internally, these equations combine
for
Y = !K T
+C p
and F = F +
= C p
. (A1.3)
Math reminds us continually that “equals” does not necessarily mean “is”. (A1.1) and
(A1.3), for example, do not mean that output is growth plus cash flow or growth plus
APPENDIX A: The Argument in Notation 3/7/16 1
pure consumption. Why? Output in itself means creation of economic value.
Mathematically, that could include what I called “output exhaust”, meaning value
exhausted as soon as created. I ruled that out as “free goods”, which happen every
day but are neglected in economics as unable to influence behavior either before or
after. That’s why “equals” cannot mean “is” in (A1.3). And neither does it in (A1.5).
Rather both state that output provides cash flow offset plus total capital growth.
This distinction helps everywhere in economics. We know for example that transfer
out may be drawn either from capital in place or from concurrent output. The
source of first kind is decaptialization D. But decaptialization also includes other
components than transfer out. In Chapter 3, and again just now, I excluded output
exhaust as free goods possible in math but neglected in economics. That makes
decapitalization D the only source of pure consumption C P
. And not all
decapitalization is transfer or exhaust. Some is deadweight loss, defined in (A1.1) as
any negative sum of capital growth !K T
and cash flow F. That can show in
D= D ρ
+D λ
and D ρ
= D τ
+C P
. (A1.4)
Here D ρ
is recovered or realized decapitalization, D τ
is “transfer depreciation” net
of plowback into the same asset, and D λ
is deadweight loss. λ is lambda. At the
collective scale, where transfers cancel internally, (A1.4) becomes
D ρ
= C p
.
(A1.4a)
The dispositions of transfer out may be reinvestment in other assets of the same
owner, or may be gift to donees. Reinvestment can be interfactor as shown in
Chapter 5. Transfer out from total capital of any individual, net of internal transfers,
APPENDIX A: The Argument in Notation 3/7/16 2
simplifies to gift. Transfer in gained by the owner’s total capital, net of the same
internal transfers, is gift received. The math becomes
τ +
= γ +
, γ = γ +
−γ −
, F +
= γ +
+C p
, F −
= γ −
and F = γ +C p
(A1.5)
at the scale of each individual’s total capital as a whole. Here γ (gamma) is net gift,
γ +
is gift and γ −
is gift received.
Divide (A1.1) by K T
to find
Y
K T
= ! K T
K T
+ F K T
. (A1.6)
Define these three terms as productivity or rate of return r, total capital growth rate
g and cash flow rate f. Then (A1.6) can be reexpressed as
r = g + f .
(A1.6a)
(A1.3) combines with (A1.6) to show
Y
K T
= ! K T
K T
+ C p
K T
, at the collective scale. (A1.7)
Define “pure consumption rate” c p
as C p
/K T
, and substitute to show
r = g + c p
, at the collective scale. (A1.7a)
APPENDIX A: The Argument in Notation 3/7/16 3
(A1.1), (A1.6), (A1.7) and (A1.8) are alternative statements of the total return
truism.
In general, define g(Q)= !Q /Q for any variable Q. Note again that g in this book
means growth rate of capital g(K T
) rather than output. g in macro tradition usually
means growth of output g(Y) . Total capital K
T
is the sum of human capital H and
physical capital K. Their outputs respectively are work W and (net) profit P. Their
counterparts to (A1.1) and (A1.6a) are
W = !H+F(H) , r(H)= g(H)+ f(H) , P = !K +F(K) and r(K)= g(K)+ f(K) , (A1.8)
where F(H), f(H), F(K) and f(K) are respectively “human cash flow”, “human cash
flow rate”, “physical cash flow” and “physical cash flow rate”.
Present Value and Present Cost
If there were no such thing as time preference, present and future value would be
the same. All economists known to me concede that we prefer present goods to
future ones, although some like Joseph Schumpter have seen no good reason why. I
suggest a reason in next generation theory.
Present value theory, understood in essence by the Sumerians, considers what we
now call future positive cash flows which are expected to be generated from
external investments (transfer in, negative cash flow) made now or earlier. At the
differential (infinitesimal) scale, we can write the associated future value as
dFV(z)= F +
(z)dz (2.1)
at future moment z. The basic idea of present value PV is
APPENDIX A: The Argument in Notation 3/7/16 4
dPV(x)= F +
(z)e −q(z−x) dz , (2.2)
where q is the appropriate time discount rate.
Note the implication
F +
(z)dz = dPV(x)e q(z−x) , (2.3)
showing that q is the growth rate that raises the value of dPV(x) to F +
(z)dz over
period z− x . Since this differential component of asset value defers all positive cash
flow until moment z , and cannot in itself be affected by later transfers in, q
simplifies by (A1.6a) to rate of return. This was Boehm Bawerk’s insight, although
he was not mathematical, in equating time preference rate to rate of return r. Thus
(2.2) and (2.3) give
dPV(x)dx = F +
(z)e −r(z−x) dz and F +
(z)dz = dPV(x)e r(z−x) , (A2.4)
where r is the appropriate rate of return and time discount rate equivalently.
But what determines appropriate r in these equations? Rate of return varies with
risk among different assets at the same time, and varies over time with economic
circumstances. Most sources I have seen treat r in (A2.4) as a variable to be
integrated over (x, z). I myself long believed the same.
My view now looks to the context. The asset as a whole will typically have received
many differential investments before time x, and may receive many after. Each at
inception will have been priced by the owner’s time preference rate then. But my
theme in risk theory is that assets can be traded or modified to the current owner’s
APPENDIX A: The Argument in Notation 3/7/16 5
risk tolerance now. She discounts each expected future flow not by her foreseen
time preference rate then, but by her time preference rate today. It seems to me that
the appropriate discount rate r in (A2.4) is r(x). She will provide for anticipated
changes in her time preference rate by factoring costs of trading the asset if
tradeable, or modifying it if modifiable, into her evaluations of future value F +
(z)dz ,
and so from present value too. I consequently interpret (A2.4) to mean
dPV(x)= F +
(z)e −r(x)(z−x) dz and F +
(z)dz = dPV(x)e r(x)(z−x) . (A2.5)
The value of the whole asset V(x) at time x will be the sum or integral of present
values of all foreseen cash flows both negative and positive over (x, ω ), where ω
(omega) is the foreseen end point of flows. ω may be infinity ∞ . Thus
ω
V(x)= PV(x)= ∫ F(z)e −r(x)(z−x) dz , x <= z <= ω . (A2.6)
x
The terms value and total capital are interchangeable, as are their notations V and
K T
.
Present cost PC(x) evaluates V(x) as the sum or integral of earlier negative cash
flows compounded at rate r since moment of investment u, and not yet
decapitalized in positive cash flow. The counterpart to (A2.1) becomes
dIC(u)= F −
(u)du and dPC(x)= dV(x)= dPV(x) , (A2.7)
where IC is what I call “investment cost”. The counterparts to (A2.2) and (A2.3) are
dV(x)= F −
(u)e q(x−u) du and F −
(u)du = dV(x)e −q(x−u) . (A2.8)
APPENDIX A: The Argument in Notation 3/7/16 6
q here equals some appropriate r by the same logic as before. Here again, we
usually read interpretations of (A2.8) which treat the appropriate r as an integral
of time preference or equivalently productivity rates over the interim (u,x). I
however see dV(x) as determined by current rate r(x) whether derived by present
cost or present value methods. If the original investor remains the current owner,
and now finds her time preference rate different, she will have factored asset
modification costs into her original decision to bid or invest. If not, she will have
traded to someone whose time preference rate is better suited. My counterparts to
(A2.1) and (A2.6) become
dV(x)= dPC(x)= F −
(u)e r(x)(x−u) dx and F −
(u)du = dV(x)e −r(x)(x−u) (A2.9)
and
x
V(x)= PC(x)= ∫ F(u)e r(x)(x−u) du . (A2.10)
0
These equations seem the most straightforward reconciliation of the maximand rule,
the convergence axioms and the evidence supporting risk theory. They describe
individual assets over time, sometimes passing from one owner to another, rather
than a given owner’s total portfolio. We maximize return within current risk
tolerance, recognize that it will change, and deduct present value of expected
trading or asset modification costs from future value of flows while adding them to
original value. This seems true to life. It allows discounting all expected positive
flows over (x, z), and compounding all past negative ones over (0, x), at a single rate
r(x) because of those adjustments to value or cost of flows. Tradition treats the
flows as fixed givens, and the discount rate as a function of interim time between x
and z or between 0 and x.
APPENDIX A: The Argument in Notation 3/7/16 7
My interpretation that the time discount rate/rate of return we naturally apply in
evaluating both present cost and present value is our time preference rate now,
rather than some retrospective or prospective average, might seem counterintuitive.
I propose it, even so, as the “time discount rule”.
Analogy to the Firm
I follow convention by treating all transfer out as compensated by actual or imputed
revenue. The part exhausted in taste satisfaction gets imputed revenue paid by the
consumer satisfied. Not all revenue compensates transfer out, as revenue is usually
defined as sales proceeds against which prior outside claims must be satisfied first.
These are typically for labor and supplies in the case of the firm. Chapter 6 gave the
logic in word equations. It begins with
ρ − ρ c
= ρ e
,
(A3.1)
where ρ is revenue, ρ c
is prior claims and ρ e
is “earned revenue” as a residual.
Earned revenue, also called gross realized output, is thus remaining share of overall
revenue earned by the firm or other entity that performed the sales, collected the
proceeds, and paid the outside claims on them.
What the the firm or other contributor gives up to earn the earned revenue is the
sum of its realized output Y ρ
and its recovered decapitalization D ρ
. Remember
from (A1.4) that D ρ
includes any pure consumption realized by the owner of the
source asset, although that could not apply where the owner is taken as a firm. The
sum of Y ρ
and D ρ
gives its gross realized output. Then
Y ρ
gross = ρ e
= Y ρ
+ D ρ
,
(A3.2)
where Y ρ
gross is gross realized output. In Chapter 6, I also called Y ρ
gross or ρ e
“gross positive cash flow”. All mean the same. I will usually leave out the notation
APPENDIX A: The Argument in Notation 3/7/16 8
ρ e
from now on, and refer to gross realized output Y ρ
gross alone.
Positive cash flow is that less plowback from revenue. This can be notated
F +
= Y ρ
gross − ρ pb
= Y ρ
+ D ρ
− ρ pb
,
(A3.3)
where ρ pb
is plowback. Negative cash flow is transfer in, notatedτ −
. Thus
F −
= τ −
and F = F +
− F −
= Y ρ
+ D ρ
− ρ pb
− τ −
.
(A3.4)
Cash flow F is the difference
F = F +
−F −
= Y ρ
+D ρ
− ρ pl
−τ −
.
(A3.5)
Gross output is gross realized output plus unrealized (or proprietary or selfinvested)
output. This can show as
Y gross
= Y ρ
gross + Y s
= Y ρ
+D ρ
+ Y s
.
(A3.6)
Think of the subscript s as meaning saved or self-invested. As all output is either
realized or unrealized, we have
Y = Y s
+ Y ρ
.
The terms saved, self-invested, unrealized and proprietary will be taken as
interchangeable.
APPENDIX A: The Argument in Notation 3/7/16 9
(A3.6) combines with (A1.4) and (A1.5) to arrive at
γ +
= F +
= Y ρ
gross − ρ pl
(A3.7)
at the scale of the total capital of the individual or any set of individuals. This fact
will prove helpful in adjusting the Ben-Porath model and in next generation theory.
It should be borne in mind that transfer out and transfer in are both implicitly
defined as net of plowback in the first place. Thus it would be wrong to suppose that
negative cash flow is transfer in less plowback from revenue. That mistake would
deduct plowback twice.
The Growth Truism
Growth of any asset of either factor is capitalization from outside plus capitalization
from inside less decapitalization. This difference can also be called net capitalization.
Capitalization from outside is simply transfer in τ −
. What are the other two?
Our first intuition would be that capitalization from inside is identical to unrealized
output. Here we must be careful. Output is negative wherever the sum of growth
(net capitalization) and cash flow falls below zero. This “deadweight loss” is
implicitly uncovered decapitalization, meaning not recovered in cash flow. To
subtract all including unrecovered decapitalization from the sum of transfer in and
unrealized output would therefore subtract the unrecovered part twice.
To make this clear, define positive and negative output by
Y ( > 0) = max( Y,0) and Y ( < 0) = max( −Y,0) = λ ,
APPENDIX A: The Argument in Notation 3/7/16 10
where λ (lambda) is deadweight loss. Meanwhile negative output belongs in the
unrealized component of output Y s
as with all effects on net capitalization not
explained by transfer in or plowback from revenue. It is the random negative
component in free growth. Then define positive and negative output and realized
output more fully by
and
Y s ( > 0) = max( Y s
,0) , Y s ( < 0) = max( −Y s
,0) = λ , Y s
= Y s ( > 0) − λ , (A4.1)
Y(> 0)= max(Y,0) , Y(< 0)= max(−Y,0)= λ and Y = Y(> 0)− λ . (A4.2)
There is also indirect capitalization from inside in the form of plowback from
revenue. The growth truism sums these inflows less outflows as
!K T
= τ −
+ Y s
(> 0)+ ρ pl
−D=τ −
+ Y s
+ ρ pl
−D ρ
, (A4.3)
recalling that D ρ
shows recovered (realized) decapitalization.
At the scale of the total capital of any individual or set of them, (A1.5) and (A4.3)
give
!K T
= γ −
+ Y s
+ ρ pl
−C p
. (A4.4)
Human Cash Flow
Although I can’t recall seeing the term “human cash flow” in any papers or textbooks
of others, tradition defines the flow discounted to human capital as pay less Schultz’
“pure investment”. The flow so discounted is implicitly cash flow. I rename pure
investment “invested consumption,” and write the traditional view as
APPENDIX A: The Argument in Notation 3/7/16 11
F H
= π −C s
,
(A5.1)
where F H
is human cash flow, π (pi) is pay, and C s
is invested consumption. The
subscript s, as usual, means saved or self-invested.
Pay π can be defined as the worker’s literal or imputed revenue. Self-invested
consumption C s
can be defined as any investment in human capital other than
through self-invested work. This makes C s
all investment from outside in a sense.
But that does not mean that it is limited to transfer in. There is also plowback from
revenue (pay π ), as when we spend pay on textbooks or tuition. I model “pay
plowback” π pl
as minor in the world we know, but definitions must account for it.
This I define
C s
= τ(H) −
+π pl
or t(H) −
= C s
−π pl
, (A5.2)
where τ(H) −
is “human transfer in”. This and (A1.2a), showing F −
= τ −
, give
F(H) −
= τ(H) −
= C s
−π pl
.
(A5.3)
(A3.1) and (A3.2), analyzing the firm, derived
ρ − ρ c
= Y ρ
gross = Y ρ
+D ρ
.
For human capital, this can show as
π −π c
= W ρ
gross = W ρ
+D(H) ρ
,
(A5.4)
APPENDIX A: The Argument in Notation 3/7/16 12
reading “pay less prior claims on pay equals earned pay equals gross realized work
equals realized work plus realized (recovered) human depreciation”.
Prior claims means outflow (transfer out), from sources other than the direct
receiver of revenue, which are recovered in it and owed back to them. Maintenance
consumption can be defined as any transfer out from any asset of either factor,
outside the human capital of the earner, which supports pay in the sense that any
less maintenance consumption would have realized less pay. This meets every
criterion of prior claims but one. Maintenance consumption is the prior claims
meant by π c
in (A5.5) if and only if it is actually recovered in pay or so intended.
I gave my arguments that it is neither, but is rather exhausted in satisfying our taste
for survival, in Chapter 6 and elsewhere. If I am right, (A5.4) gives
π c
= 0 and π = W ρ
+D(H) ρ
= W ρ
gross , (A5.5)
so that pay would measure and compensate gross realized work. This is the pay rule.
By (A3.3), positive cash flow is gross realized output less plowback from revenue.
That comes to
F(H) +
= W ρ
gross −π pl
= π −π pl
.
(A5.6)
Now we have
F(H)= F(H) +
−F(H) −
= π −π pl
−(C s
−π pl
)= π −π pl
−C s
+π pl
= π −C s
,
(A5.7)
APPENDIX A: The Argument in Notation 3/7/16 13
as the application of (A3.5) to human capital. This confirms the traditional view
(A5.1) if (A5.5) is right in interpreting prior claims on pay as zero.
If I was wrong there, and Quesnay and the physiocrats were right, some
maintenance consumption would be recovered in revenue of its suppliers. Then I
should have written something like C = C s
+C τ
+C p
, where “transfer consumption”
C τ
was the value recovered by suppliers. This mathematical possibility, which I do
not claim to have disproved, explains why I do not claim that the pay rule is logical
certainty as a whole. I claim certitude only for its most surprising feature: human
depreciation is expected to be recovered in pay. The rest follows only if (A5.5) is
right as I think it is. Meanwhile (A5.5) also gives
C = C s
+C p
,
(A5.8)
where C is consumption.
Saved work W s
means the self-invested output of human capital. It includes the
subliminal and effortless work of job experience as well as the effort and
opportunity cost of literal schooling, and also includes any free growth of human
capital. Then
W = W s
+ W ρ
.
(A5.9)
The growth truism (A4.3) for human capital becomes
!H = C s
+ W s
(> 0)−D(H)= C s
+ W s
−D(H) ρ
. (A5.10)
Human Capital as Present Value
Note
APPENDIX A: The Argument in Notation 3/7/16 14
g(F⎡
⎣H
⎤ ⎦ )= g(π −C )= 1 d
s
π −C s
dt (π −C )= !π − !C s
,
s
π −C s
(A6.1)
and also
f(H)= F(H)
H
= π −C s
H
= π H − C s
H .
(A6.2)
Pay π , literal and imputed, is the measure of gross realized work if I am right in
(A5.5). I take this as meaning all adult productive activity not self-invested. Then the
ratios π /H and C s
/H , the ratio of invested consumption to human capital, might
both be intuited as biological norms, like the generation length, which tend to hold
steady over time. Meanwhile the definition f = F/K T
in (A1.6) and (A1.6a) is
applied to human capital as
H = F(H)
f(H) = π −C s
f(H) .
(A6.3)
What we want is to quantify f(H) in order to reveal H from measured or modeled
π −C s
. Next generation theory measures cash flow rate of total capital, which
simplifies to the pure consumption rate, at 3.5% a year as a reciprocal of the
generation length. I argued that the risk component in rate of return is captured in
cash flow rate, rather than growth rate, that return at any given moment varies only
with risk, and that human capital as a whole should prove the riskier and higherreturn
factor. Then f(H) should prove generally higher than 3.5% per year.
That could give the key to quantifying collective human capital through (A6.3). I will
not attempt that step here. A reason is that national accounts reflect pay mixed with
APPENDIX A: The Argument in Notation 3/7/16 15
profit when reporting income of proprietorships. I would rather trust an expert in
national accounts to tease them apart, and to judge whatever pay should be imputed
to people in the household sector not literally employed.
The Level Payment Mortgage
(A2.5) gives
ω
V(x)= F∫ F(z)e −r(x)(z−x) dz . (A7.1)
0
Consider the level payment mortgage. F(z) is the constant level payment while r(x)
is the constant interest rate Here (A2.5) simplifies to
V(x)= F
∫
ω
x
e −r(z−x) dz = Fe rx
∫
ω
x
e −rz dz = F ⎡1− e
r ⎣
−r(ω −x)
⎤
⎦ .
(A7.2)
As there is no self-invested output, and no negative cash flow after initial investment
at time 0, decapitilization (amortization) simplifies to − !V(x). Thus
D(x)= − V ′(x)= − d dx
F
⎡
r ⎣
1− e−rω e rx ⎤
⎦ = F r e−rω
d
dx erx = F
e rω erx ,
(A7.3)
confirming that amortization increases exponentially over the term of the mortgage.
Depreciation Theory
Depreciation can be defined as decapitalization which is a function of time since
capitalization alone. When assets change hands, depreciation continues unchanged.
Depletion and liquidation in sale, by contrast, are options available at any asset age.
Amortization can be given the same definition as depreciation, but is customarily
APPENDIX A: The Argument in Notation 3/7/16 16
applied to paper rights such as the mortgage rather than to physical or human
capital itself.
Depreciation of those assets is not as simple as with the mortgage. Cash flow F and
discount rate r are typically variables rather than constants. Depreciation theory
avoids that complexity, much as accountants do, by treating each successive
investment in an asset as if it were a separate asset depreciating in itself.
(A2.5) through (A2.10) gave present value at time x of a differential foreseen
positive cash flow at future time z as
dPV(x)= F +
(z)e −r(x)(z−x) dz ,
(A8.1)
where the differential present value arose from a earlier or concurrent negative
cash flow invested at time u < = x . It was shown that all of asset value PV(x) at any
time x can be explained as a sum or integral of such differential increments
evolving with time alone from investment to eventual realization.
Meanwhile all output within the differential increment of dPV is self invested.
Growth dPV can be understood either as this self-invested output or equivalently
the shortening discount period, as each means growth at rate r. At interim moment
t it is
dP V ′(t)= r(x)dPV(t)= F(z)e −r(x)(z−t ) dt = r(x)F(e)
e r(x)z
e r(x)t
, x <= t <z . (A8.2)
Thus present value rises exponentially as long as the moment of cash flow is
deferred.
APPENDIX A: The Argument in Notation 3/7/16 17
At moment z, self-invested output ends and all change in value is explained by
depreciation alone. It equals the entire accumulated value of dPV at final moment z.
That is,
D(z)dz = −dP V ′(z)dz = dPV(z)= dPV(x)e r(x)(z−x) .
(A8.3)
The following table shows some illustrations:
Depreciation Factor e r(x)(z−x) if z− x is 50 Years
Interim z− x (years): 0 10 20 30 40 50
Factor if r(x) = .035: .174 .247 .350 .497 .705 1
Factor if r(x) = .065: .039 .074 .142 .273 .522 1
This exactly reverses the analysis applied in national accounts, which models the
factor as decreasing rather than rising exponentially.
It should be stressed that these equations and this table describe each successive
differential increment of outside investment (transfer in), not assets overall or
groups of them. If transfer in were constant and continuous in an asset or group,
other things equal, overall depreciation would show as linear.
Free Growth Theory
By the total return truism (A1.6a), showing r = g + f, we derive
g = r − f , dg = dr − df , and Δg = Δr − Δf . (A9.1)
dg or Δg is “acceleration”, dr or Δr is “productivity gain” or “free growth rate”
and −df or −Δf is “thrift gain”. Divide by acceleration to reach
APPENDIX A: The Argument in Notation 3/7/16 18
dr
dg − df
dg = drdt
dtdg − dfdt
dtdg = !r !g − f ! !g = 1 and Δr
Δg − Δf
Δg = 1 .
(A9.2)
drK T
or ΔrK T
give free growth as a flow, while −dfK T
or −ΔdfK T
give the flow of
thrift.
Define the “productivity index” or “free growth index” ϕ (phi) as !r / !g or Δr / Δg ,
and the “thrift index” θ (theta) as − ! f / !g or −Δf / Δg . (A9.2) can then be put as
ϕ +θ = 1 ,
(A9.2a)
in either the continuous time or discrete period sense.
Free growth theory is the prediction that ϕ at the collective scale will average unity
(the number one), implying that θ averages zero, when ϕ or θ is measured for
each year or for shorter periods if practical. Thrift theory makes the opposite
prediction θ →1 and ϕ → 0. The point is to compare simultaneous changes in
acceleration and thrift, and then find the long-term average of these simultaneous
observations, rather than compare long-term changes in the first place. If free
growth is right, they will prove uncorrelated. That is exactly what the charts and
tables show whenever data are available. Acceleration is as likely to coincide with
unthrift, meaning increase in consumption rate C/K, as with thrift.
Division of (A9.1) by acceleration was not essential to the logic. It added the
convenience of index numbers totaling unity.
The test should be as fine-grained as practical. If the Piketty-Zucman website
showed quarterly or monthly data revealing any two of r , f and g, I would have
averaged the largest number of shortest periods. What I try to compare is ex ante
APPENDIX A: The Argument in Notation 3/7/16 19
acceleration, measured as thrift −Δc , and ex post acceleration Δg at the same
moment. Otherwise we don’t have the clearest test between free growth and thrift
theories. Both agree that consumption can keep pace with output and capital over
time. Free growth theory asserts that they keep pace continuously.
Correlations tell the same story. Tables show that coefficients between r and g
run about 1, as with the free growth index, while correlations between f and g run
about zero.
I do not claim that anyone but Mill and I has actually proposed free growth theory,
nor that anyone at all has proposed thrift theory as here defined. It is my impression,
not assertion, that modern consensus fits thrift theory given Harrod’s qualifier that
attempted (ex ante) net saving (thrift) must not exceed the technological growth
rate (warranted growth path). My impression is that Solow and modern tradition
agree, but blunt Harrod’s knife edge. Free growth theory counters that the same
growth arrives costlessly when ex ante net saving/investment is held at zero. Nor do
I claim that data shown in my charts and tables prove free growth theory. Rather
they demonstrate that all growth has proved free wherever measured to date.
Saving/Investment
Unlike Lord Keynes and modern tradition, I define saving and investment as
synonymous from the start. I don’t strictly need either term. My “transfer in”,
“unrealized output” and “plowback” arrive at the same thing. But I know I must do
my best to write in a language already understood. I will usually say “investment” to
mean saving/investment, and will use Keynes’ notation I for both.
Keynes did not explicitly recognize human capital, although he very probably
understood it. He treated investment in physical capital only. I notate this I(K). I also
treat investment in total capital, to be notated I(K T
). Each, as in Keynes, sums
depreciation recovery and “net investment”. The latter, in my treatment, is
APPENDIX A: The Argument in Notation 3/7/16 20
considered in both ex ante and ex post versions. The subscripts xa and xp will show
which.
Ex ante net investment can be notated I(K T
) xa
and defined as identical to thrift flow
−df(K T
) or −Δf(K T
) . Its rate is the same as thrift rate −df or −Δf . Ex post net
investment is actual growth !K T
or ΔK T
/ Δt as a flow, and !g or ΔK T
/(K T
Δt) as a
rate. Free growth theory, supported by data wherever tested, predicts that thrift or
ex ante net investment at the collective scale sacrifices cash flow (pure
consumption) with no growth to compensate. My interpretation is that the optimum
collective ex ante net investment rate is zero, or equivalently that optimum
investment is current cost depreciation plowback from both factors. Then optimum
ex ante net investment becomes
I(K T
) xa
, optimum = 0 , at the collective scale. (A9.3)
(Net) output Y at that scale is total capital growth (net investment of both factors)
plus pure consumption. Here too we can distinguish ex ante output as pure
consumption plus ex ante investment, while ex post output is pure consumption plus
ex post net investment. (9.3) gives
Y xa
optimum = C p
, at the collective scale, (A9.4)
where Y xa
is ex ante output.
Since (gross) investment equals net investment plus makeup for decaptalization,
while decapitalization equals pure consumption C p
collectively by (A1.4a), we can
show I(K T
) xa
optimum = C p
as an alternate statement of (A9.4).
APPENDIX A: The Argument in Notation 3/7/16 21
Summarizing,
I(K T
) xa
optimum = Y xa
optimum = C p
, at the 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 s
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
x
H(x)= ∫ C s
(z)e r(x)(x−z) dz , if x <=A . (A10.1)
0
APPENDIX A: The Argument in Notation 3/7/16 22
I argued that outside investment in human young, including the unpaid work of
parenting, might not be far from constant. School costs rise as parenting costs
decline. (A10.1) in that case gives
H(x)= C s
(
r(x) er(x)x −1) , if x <=A . (A10.2)
At maturity (A10.1) becomes
H(A)= ∫ C s
(z)e r(A)(A−z) dz . (A10.3)
0
A
H in adulthood is easiest to model at present value rather than present cost. Human
cash flow is pay π less C s
. Discounted cash flow becomes
ω
H(x)= ∫ (π −C s
)(z)e r(x)(z−x) dz , if x >=A , (A10.4)
x
where r(z) now is best understood as time preference rate. This is identical to
expected rate of return, as shown in the diamond ring parable. Note that there is no
explicit adjustment for asset risk. I argue that human capital is not inherently riskier
than physical capital, but rather adapts to the risk tolerance of its owner. It is riskier
collectively because owned disproportionately by the risk-tolerant young. I treat
risk profile as a function of the owner’s age, gender and wealth. (A10.4) describes
cohort value, and so neglects individual differences in gender and wealth as already
captured in the characteristics of the cohort.
I model C s
as negligible in adulthood because I see so little of it. That would reduce
adult human cash flow to pay alone, and so simplify (A10.4) to
APPENDIX A: The Argument in Notation 3/7/16 23
ω
H(x)= ∫ π(z)e −r(x)(z−x) dz , if C s
= 0 and x ≥ A . (A10.5)
x
Now let’s add some detail and bring in physical capital. Like most, I model
inheritance as zero and physical capital acquisition as beginning after age of
independence A. That can be modeled as age 20. As human depreciation begins then
at zero, if depreciation theory is right, gross realized work (pay) simplifies at first to
realized work. This takes up all the new worker’s time and attention, yet
simultaneously enables subliminal self-invested work in job experience.
It seems reasonable to model pay at job entry as equal to the new worker’s
maintenance consumption, on the reasoning that independence means reaching the
ability to earn it. Thus nothing is left for investment in physical capital at first. But
the quick buildup of job experience soon means pay left for investment. As I model
no pay plowback, that means physical capital acquisition.
Human depreciation rises slowly while the self-invested work of job experience
diminishes, so that overall growth in human capital peaks and then declines.
Physical capital owned does the same as we acquire it and then spend it on the
young. Young arrive, on average, as a cohort reaches age 28.5 (my estimate of the
generation length). The cohort of adults begins divesting its capital of both factors in
nurture and schooling received by the young as invested consumption.
The young reach independence on average when the adult cohort reaches age 57 (2
x 28.5). Some young will have been born after parental age 28.5, and will continue to
receive parental investment over the eight years remaining between age 57 and
retirement modeled at age 65. But my model cannot account confidently for this
eight year gap on the whole, or for the retirement period following, which runs
twice as long. My hypothesis is that retirees are effectively employees hired by
productives to help take care of the kids, while the eight-year gap might show a
human capital reserve against nasty surprises.
APPENDIX A: The Argument in Notation 3/7/16 24
Retirement can be defined in principle as the period when our pay, literal or
imputed, no longer covers our maintenance consumption needs. Human capital
continues, even so, as long as we earn any imputed pay for helping take care of
ourselves and others. Maintenance is not investment C s
, and is not deducted in
finding our cash flow and its present value.
(A4.4) showed the growth truism for total capital of any individual as
!K T
= γ −
+ Y s
+ ρ pl
−D ρ
,
recalling that γ −
is gift received, Y s
is self-invested (unrealized) output of both
factors, ρ pl
is plowback from realized output, and D ρ
is recovered decapitalization.
For the young under age A, I model K T
as H alone, γ −
as invested consumption
provided by adults, Y s
gross as self-invested work, which I model as all work, and D ρ
as zero. Thus (A4.4) is interpreted as
!K T
= !H = C s
+ W s
= C s
+ W = C s
+ rH , if age < = A , (A10.5)
leading directly to (A10.1)
For adults I model gift received γ −
as zero. As physical capital acquisition is modeled
as beginning at independence (age A), Y s
now becomes self-invested output for both
factors. Let this show as P s
for physical capital. ρ pl
means pay plowback π pl
plus
plowback from revenue of physical capital, as with the firm. That can show as ρ(K) pl
.
But I model π pl
as zero because I see so little of it. Rather I allow reinvestment of pay
APPENDIX A: The Argument in Notation 3/7/16 25
into physical capital holdings. That can be notated π τ
. I don’t allow transfer from
physical to human capital in adults, which would mean invested consumption C s
afforded from property cash flow, because I see so little adult C s
(adult education)
on which to spend it. That’s why I model π pl
as zero. Meanwhile realized
decapitalizaiton is decomposed into its human and physical components D(H) ρ
and
D(K) ρ
. This adapts (A4.4) to
!K T
= !H+ !K = W s
+P s
+ ρ(K) pl
+π τ
−D(H) ρ
−D(K) ρ
, if age >= A , (A10.6)
and specifically
(A10.7)
!H = W s
−D(H) ρ
and !K = π τ
+P s
+ ρ(K) pl
−D(K) ρ
, if age >= A .
Next Generation Theory
The period of production, as defined by Jevons and Boehm Bawerk, gave the
reciprocal of rate of production (rate of return Y /K T
) if growth were zero. Output Y
equals growth plus cash flow. Then Jevons and Boehm Bawerk really meant the
period needed for output to make up for losses to cash flow. I call this the “cash flow
period” T F
, equal to the reciprocal of cash flow rate f. That is,
T F
= 1 f .
(A11.1)
Both modeled at the collective scale, where cash flow under the Y = I + C equation
both would have accepted simplifies to consumption C. Adjustment to the Y rule
corrects this to pure consumption C p
. That would specify (A11.1) as
APPENDIX A: The Argument in Notation 3/7/16 26
T F
= 1 C p
, at the collective scale. (A11.1a)
recalling that c p
is pure consumption rate C p
/K T
.
Rae, Jevons and Boehm Bawerk all got nowhere because they modeled physical
capital only. Jevons, in particular, saw the productive cycle as the wage fund
reproducing itself as it was used up in consumption per (A11.1). He was close.
(A11.1a) models it as total capital reproducing itself as it is used up in pure
consumption. My next generation theory, really Petty’s, posits the generation length
as the deadline for transmitting all fitness (total capital) from each generation to the
next.
The generation length in R.A. Fisher’s sense is average age difference between both
parents and all offspring from first births to last weighted equally. It is a flexible
biological norm. It was probably well over 30 years before 1900 or so, when high
infant mortality compelled longer breeding to ensure that two would survive to
breed again. Contraception, known since Roman times, was then less practiced. It
seems to run a little under 30 years today in industrial countries. I model it at 28.5
years. That gives
T F
=28.5 years and c p
= 1 T F
= .035/ year . (A11.2)
(A9.5), inferred from free growth theory, already gives
I(K T
) xa
optimum = Y xa
optimum = c p
,
at the collective scale.
This shows that the output we actually control, meaning ex ante output, is optimized
at just enough to make up losses to pure consumption. Next generation theory
specifies that the loss and make-up period equals the generation length.
APPENDIX A: The Argument in Notation 3/7/16 27
Under the simplifying assumptions of the life cycle model adapted from Ben-Porath,
we would meet that deadline by directing all adult gross realized output less
property plowback ρ(K) pl
to gift to the immediate generation of young received as
their invested consumption. The young would add their part by compounding that
outside investment into their human capital at the rate of their entire ex ante output.
This would prove the most straightforward strategy to exhaust and replace all total
capital by the deadline exactly. This is just as in my adjusted Ben-Porath model with
the addition of the specified deadline.
Here as there, I describe adults collectively and the young collectively. I will not
attempt to model effects of kin selection in individual investment choices. But I have
intended to lay a groundwork. Investment, in Hamilton’s sense, translates to gift γ +
in economic terms. It is a flow of total capital (fitness) from donor to donee. At the
individual scale, as well as for the group scale, it equals gross realized output less
plowback. Gross realized output tends to be a continuous flow, as we see in pay,
rather than one easily sped up or slowed down. This gives an idea of the time
constraints I mentioned in critiquing Hamilton’s rule.
APPENDIX A: The Argument in Notation 3/7/16 28















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Prize winners as well as the celebrity physicist Stephen Hawking —
at a Saint Thomas symposium called “Confronting Gravity,”
which was advertised as “a workshop to explore fundamental
questions in physics and cosmology.”

“This is a remarkable group,” one of the Nobel Prize winners
told a reporter for the St. Thomas Source.

“There is no agenda except fun and physics, and that’s fun
with a capital F,” Epstein said.

Epstein had been especially interested in Stephen Hawking.
Someday, Hawking had theorized, the universe would stop
expanding and collapse, at which point time would begin to run
backwards. Hawking believed that computer viruses were living
things. He thought that given the size of the universe, alien life
forms existed. He did not believe in God. But he had a vast appre-

ciation for the inner workings of the universe, and this is why

Epstein gave Hawking a tremendous gift. He paid to have a sub-

marine modified so that it could fit Hawking and his wheelchair i

and give the scientist his first glimpse of an actual alien world— ~

the one that lies under the waves of the ocean.

It was one of the most romantic, generous gestures that Jee ©

frey Epstein had ever made.

Al Seckel: January 201:

pstein’s partner in the

Al Seckel, was know1

were said to have incl
cian James “the Amazing” |
founder Elon Musk, as we
Epstein would court in the c
ladder.

In certain Los Angeles ci;

; to know. But, like Jeffrey Eps
_ According to Mark Oppenhe
_ and followed his career for fi
: by selling rare books and pé
academic connections.

A number of these trans:
Oppenheimer wot

HOUSE_OVERSIGHT_022129
"
IMAGES-005-HOUSE_OVERSIGHT_019307.txt,"Il giorno 22 lug 2018, alle ore 15:38, Steve Bannon hi, ha scritto:

What does this say???

Begin forwarded message:

From: Maria Luisa
Date: July 22, 2018 at 9:11:58 AM EDT

To: Steve Bannon <>, Preate Alexandra qq

<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

HOUSE_OVERSIGHT_019307
"
IMAGES-002-HOUSE_OVERSIGHT_014425.txt,"Chart 1: USDJPY vs yield spread Chart 2: USDJPY carry* gradually inching up
‘4 135.0
we 125.0
10 115.0
O84 105.0
us 95.0
0.4 85.0
0.2 15.0

Nov-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16
se USDJPY(RHS)  —_USDJPY carry / 3m implied vol (RHS)

US-Japan 10yr real yield spread (LHS) e==== USD/JPY (RHS)

Source: BofA Merrill Lynch Global Research, Bloomberg
Source: BofA Merrill Lynch Global Research, Bloomberg *Using 3m deposit rate

JPY sellers > JPY buyers

While uncertainty is high, what is more certain is that there are more potential sellers of
JPY than its buyers. This is the opposite of the situation some months ago (USD/JPY’s
downside risk to 110 — sell on rally 10 February 2016). First, CFTC speculative position
remains yen long though short-term traders are probably positioned for the upside
already (Chart 3). Second, we believe domestic activity to raise hedge ratio has run its
course as the USD/JPY swept through the sensitive level this year. As 2HFY16 (Oct ‘16-
Mar ‘17} has started, most life insurance companies are reportedly inclined to increase
exposure to unhedged foreign bonds though they generally remain price sensitive. In our
view, this is reflected in the USD/JPY’s consolidation during Tokyo trading hours after
the pair hit 100 on the Brexit vote (Chart 4). The fact that USD/JPY has failed to break
100 multiple times since then suggests the market looking for USD/JPY’s dip, light
positioning, and the market’s judgment that USD should be more expensive than 100
JPY. The market is probably more vulnerable to the USD/JPY’s upside than downside.

Chart 3: CFTC non-commercial futures position (bln USD) Chart 4: USD/JPY cumulative % change by trading zone
% ~~ er a owen Tokyo) GOP
‘(— our (Qam-8am Tokyo) sweep
‘| e@==== London hour (4pm-12pm Tokyo) Vi

EUR GBP CHF CAD NZD AUD JPY 18 4 it
-20 4 Brexit

, , 2 4
m= Nov ""15 m Nov 16 Nov-15  Jan-16 = Mar-16.~=—s May-16 «= Juk16.—=—Ss Sep-16.——sNov-16

Source: BofA Merrill Lynch Global Research, Bloomberg Source: BofA Merrill Lynch Global Research, Bloomberg

Technical: constructive
Daily overbought momentum (RSI) is overall a positive for USD/JPY’s uptrend.
Overbought conditions can persist longer in uptrends, but at some point this could

Bankof America
2 Japan Macro Watch | 14 November 2016 Merrill Lynch

HOUSE_OVERSIGHT_014425
"
IMAGES-008-HOUSE_OVERSIGHT_026025.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

Animations GRATUITES pour vos emails | Cliquez ici!

HOUSE_OVERSIGHT_026025
"
TEXT-001-HOUSE_OVERSIGHT_028533.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 8/22/2018 7:23:38 PM 
To: Starr, Ken 
Subject: Re: Jed Rubenfeld 
i read turley,s piece on same subject / federalist papers etc. too much in the weeds. average joe. not sure 
what he concluded 
On Wed, Aug 22, 2018 at 3:17 PM, Starr, Ken _______________________ wrote: 
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 if he 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. 
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? If so, happy to make the 
connection. 
Hugs, Ken 
Sent from my iPhone 
HOUSE OVERSIGHT 028533 
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 028534 
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 028535 
"
IMAGES-010-HOUSE_OVERSIGHT_029874.txt,"=

politico.com / BRIAN FALER House Democrats on Tuesday sued for
President Trump’s tax returns, marking the beginning of a high-stakes
legal fight over his efforts to keep his taxes...

Cori 'Coco' Gauff, 15-year-old American,
storms back for another Wimbledon
upset

HOUSE_OVERSIGHT_029874
"
IMAGES-003-HOUSE_OVERSIGHT_015372.txt,"Groucho was especially interested in the countercultural aspects of
LSD. | mentioned a couple of incidents that particularly tickled him, and his
eyes sparkled with delight. One was about how, on Haight Street, runaway
youngsters, refugees from their own families, had stood outside a special
tourist bus—guided by a driver “trained in sociological significance” --and
they held mirrors up to the cameras pointing at them from the windows,
so that the tourists would get photos of themselves trying to take photos.
The other was about the day that LSD became illegal. In San
Francisco, at precisely two o'clock in the afternoon, a cross-fertilization of
mass protest and tribal celebration had taken place, as several hundred
young people simultaneously swallowed tabs of acid while the police
stood by helplessly
“Internal possession wasn't against the law,” | explained to
Groucho.
“And they trusted their friends more than they trusted the
government,” he said. “I like that.”
We had a period of silence and a period of listening to music. | was
accustomed to playing rock’ n’ roll while tripping, but the record
collection at this house consisted entirely of classical music and Broadway

show albums. First, we listened to the “Bach Cantata No. 7.” m

HOUSE_OVERSIGHT_015372
"
IMAGES-012-HOUSE_OVERSIGHT_033005.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 5/30/2017 7:54:10 PM

To: Michael Wolff Si |
Subject: Re: Still in NYC

Importance: — High

https://www.theguardian.com/world/2017/may/29/close-friend-trum

-thomas-barrack-alleged-tax-evasion-italy-

sardinia?CMP=share btn fb

On Tue, May 30, 2017 at 3:46 PM, Michael Wolff i > wrote:

His son was in my son's class at Collegiate.

On Tue, May 30, 2017 at 3:26 PM jeffrey E. <jeevacation@gmail.com> wrote:

Krumholtz

On Tue, May 30, 2017 at 3:25 PM Michael Wolff qq wrote:

Who is your colonoscopy man?

On Tue, May 30, 2017 at 3:24 PM jeffrey E. <jeevacation@gmail.com> wrote:

Colonoscopy

On Tue, May 30, 2017 at 3:15 PM Michael Wolff Se wrote:

Breakfast?

On Tue, May 30, 2017 at 2:28 PM jeffrey E. <jeevacation@gmail.com> wrote:

New York tonight

On Tue, May 30, 2017 at 2:07 PM Michael Wolff

> wrote:

I've been cancelled on for today. Appears everybody gone to ground. Seems Priebus decision expected.

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

HOUSE_OVERSIGHT_033005
"
IMAGES-007-HOUSE_OVERSIGHT_024111.txt,"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 financiéle 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 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024111
"
IMAGES-004-HOUSE_OVERSIGHT_017763.txt,"Page 49 of 52
2005 B.Y.U.L. Rev. 835, *919

(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.

The Rationale:

Under the CVRA, a victim has a right ""to proceedings free from unreasonable delay."" 73! A number of states have similar
332

provisions.

[*920] The proposed rule would give effect to this right. Of course, in some situations, delay is reasonable. In others,
however, the court should deny a motion to continue in order to wrap up the proceedings and possibly bring closure to a victim.
As Senator Feinstein has explained,

This provision does not curtail the government's need for reasonable time to organize and prosecute its case. Nor is the
provision intended to infringe on the defendant's due process right to prepare a defense. Too often, however, delays in criminal
proceedings occur for the mere convenience of the parties and those delays reach beyond the time needed for defendant's due
process or the government's need to prepare. The result of such delays is that victims cannot begin to put the crime behind them
and they continue to be victimized. It is not right to hold crime victims under the stress and pressure of future court proceedings
merely because it is convenient for the parties or the court. 373

The proposed rule gives victims a right against unreasonable delay in subsection (c). To ensure that defendants’ rights are
reasonably protected, a new subsection (b) is added recognizing defendants’ rights in the Speedy Trial Act. *34 The existing
rule's direction to give scheduling preference to criminal cases would remain in subsection (a).

The proposal also gives victims the right to be heard on any continuance. This is consistent with the drafters’ intent, as at least
one court has already opined. 77° As Senator Kyl stated, ""This provision [in the CVRA] should be interpreted so that any

331 18 U.S.C.A. 3771(a)(7). Even before the adoption of the CVRA, child victims had the right to a ""speedy trial” in certain situations. /8
U.S.C. 3509(j).

332 See, e.g., Ariz. Rev. Stat. 13-4435 (2001) (""In any criminal proceeding in which a continuance is requested, the court shall consider the
victim's views and the victim's right to a speedy trial.""); Ca/. Penal Code 1050(a) (2005) (stating policy of the California legislation that
""excessive continuances ... cause substantial hardship to victims and other witnesses ... . It is therefore recognized that the people, the
defendant, and the victims and other witnesses have the right to an expeditious disposition ... .""); Del. Code Ann. tit. 1], 9423 (2001) (""In
ruling on any motion or other request for a delay or continuance ... the court shall consider and give weight to any adverse impact such delay
or continuance might have on the well-being of any victim ... .""); 730 JI]. Comp. Stat. Ann. 5/5-4-3.](c) (West 2005) (""Victim shall be
notified of the date and time of hearing [on any motion for continuance] and shall be provided an opportunity to address the court on the
impact the continuance may have on the victim's well-being.""); La. Rev. Stat. Ann. 46:1844 (1999) (""When ruling on a defense motion for
continuance, the court shall consider the impact on the victim.""); Miss. Code Ann. 99-43-19 (2000) (""The court ... should make every
reasonable effort to consider whether granting [a] continuance shall be prejudicial to the victim.""); Ri. Gen. Laws 1]-37-11.2 (2000) (""The
court shall consider any adverse impact the delay or continuance may have on the well-being of the victim ... .""); Tenn. Code 40-38-116(a)
(2003) (""In any criminal proceeding in which a continuance is requested, the court shall consider the victim's views and the victim's right to a
speedy trial. If the continuance is granted over the victim's objection, the court shall state on the record the reason for the continuance and the
procedures that have been taken to avoid further delays.""); vo. Stat. Ann. 1-40-207 (2004) (""The court shall consider the victim's interest
and circumstances when ... granting or denying continuances."").

Some states limit speedy trial rights to child victims. See, e.g., Ala. Code 15-25-6 (2000) (""In ruling on any motion ... for ... continuance ...
the court shall consider and give weight to any adverse impact the delay or continuance may have on the well-being of a child victim or
witness.""); Del. Code Ann. tit. 1], 5133 (2001) (same); Idaho Code Ann. 19-110 (2004) (same); Ky. Rev. Stat Ann. 421.510 (LexisNexis
1992) (same); N.Y. Penal Law 642-a (2005) (same); N.D. Cent. Code 12.1-35-05 (2003) (same); Wis. Stat. 971.105 (2005) (same). For
general review of the victim's right to a speedy trial, see generally Beloof, Cassell & Twist, supra note 15, at 383-91; Cassell, Balancing the
Scales of Justice, supra note 15, at 1406.

333 150 Cong. Rec. S4268-69 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).

DAVID SCHOEN

HOUSE_OVERSIGHT_017763
"
IMAGES-004-HOUSE_OVERSIGHT_018450.txt,"had the hyper-focused feminist sex educator instincts that I have now. I would have
written differently about consent, and I would have written differently about the
communication that happened with my partners about my consent. I would have talked
about how the S&M subculture isn't always welcoming for everybody, though it feels
welcoming for me. Plus, I'm no longer practicing monogamy; I'm polyamorous these
days.

But at the time, my goal was to do two things: (1) write out how S&M stigma felt for me,
as a young feminist, and to talk about how I was overcoming it. And (2) show that
sometimes a partner just isn't good for you, even if he has a quality that you really really
want -- and you can always walk away.

KK Ok

Love Bites: An S&M Coming-Out Story

I was very drunk. My perceptions had a frame-by-frame quality, and the evening didn't
seem immediate: pieces of it were foreign, disconnected as a dream. I was being bitten
very hard on the arm. It would leave marks the next day.

I was so muddled by assorted things that even now I can't sort out how I felt at that
moment. When Richard's nails scored my skin I gasped, but I didn't ask him to stop. I
flinched away, but he kept a firm grip on me. ""Beg for mercy,"" he said softly.

Frame. Skip. I discovered that a mutual friend of ours had seen us, stopped, and was
sitting on the grass across from Richard. ""Hey,"" he said. ""You shouldn't do that.""

""It's okay,"" Richard said, ""she likes it,"" and pulled my hair hard enough to force me to
bow my head. / do? I managed to think, before thought vanished back into the blur of
alcohol and pain. Our friend's face loomed over me, concern sketched vividly on his
features.

I closed my eyes.

""Mercy,"" I whispered.

te Ok ok

Later, Richard reminded me of something I said that night: ""I wish I'd met you years
ago.” Thinking hard, I could only recall the evening in broad strokes. We'd gotten drunk
at an outdoor party; he'd hurt me a bit; I'd said that; and then I'd staggered off to help
clean up.

""A lot of crap comes out when you do this stuff,"" he now said. A few weeks had passed. I
was lying on my stomach across the foot of his bed. Sitting perpendicular to me, he
leaned back and propped his feet on the small of my back. Thin and pale, he tended to
wear black, and had intense dark eyes. It was summer in 2005. I was twenty years old.

He'd asked me why I wanted to be hurt. I couldn't work out an answer -- wasn't certain
the question was valid -- so I asked him why he liked to hurt people. He'd half-laughed,
with a tone that I couldn't evaluate. Ruefully? ""That's a long, dark road,"" he'd said.

HOUSE_OVERSIGHT_018450
"
IMAGES-007-HOUSE_OVERSIGHT_022560.txt,"has taken steps to make certain that the code of conduct
remains current and effective and whether a company has
periodically reviewed and updated its code.

Whether a company has policies and procedures that
outline responsibilities for compliance within the company,
detail proper internal controls, auditing practices, and doc-
umentation policies, and set forth disciplinary procedures
will also be considered by DOJ and SEC. These types of
policies and procedures will depend on the size and nature
of the business and the risks associated with the business.
Effective policies and procedures require an in-depth
understanding of the company’s business model, includ-
ing its products and services, third-party agents, custom-
ers, government interactions, and industry and geographic
risks. Among the risks that a company may need to address
include the nature and extent of transactions with foreign
governments, including payments to foreign officials; use
of third parties; gifts, travel, and entertainment expenses;
charitable and political donations; and facilitating and
expediting payments. For example, some companies with
global operations have created web-based approval pro-
cesses to review and approve routine gifts, travel, and enter-
tainment involving foreign officials and private customers
with clear monetary limits and annual limitations. Many of
these systems have built-in flexibility so that senior manage-
ment, or in-house legal counsel, can be apprised of and, in
appropriate circumstances, approve unique requests. These
types of systems can be a good way to conserve corporate
resources while, if properly implemented, preventing and
detecting potential FCPA violations.

Regardless of the specific policies and procedures
implemented, these standards should apply to personnel at

all levels of the company.

Oversight, Autonomy, and Resources

In appraising a compliance program, DOJ and SEC
also consider whether a company has assigned respon-
sibility for the oversight and implementation of a com-
pany’s compliance program to one or more specific senior
executives within an organization.*”? Those individuals

must have appropriate authority within the organization,

Guiding Principles
of Enforcement

adequate autonomy from management, and sufficient
resources to ensure that the company’s compliance program
is implemented effectively?’ Adequate autonomy gener-
ally includes direct access to an organization’s governing
authority, such as the board of directors and committees
of the board of directors (e.g., the audit committee)3”
Depending on the size and structure of an organization,
it may be appropriate for day-to-day operational responsi-
bility to be delegated to other specific individuals within
a company.*® DOJ and SEC recognize that the reporting
structure will depend on the size and complexity of an
organization. Moreover, the amount of resources devoted
to compliance will depend on the company’s size, complex-
ity, industry, geographical reach, and risks associated with
the business. In assessing whether a company has reasonable
internal controls, DOJ and SEC typically consider whether
the company devoted adequate staffing and resources to the

compliance program given the size, structure, and risk pro-

file of the business.

Risk Assessment

Assessment of risk is fundamental to developing a
strong compliance program, and is another factor DOJ
and SEC evaluate when assessing a company’s compliance
program.?!” One-size-fits-all compliance programs are
generally ill-conceived and ineffective because resources
inevitably are spread too thin, with too much focus on low-
risk markets and transactions to the detriment of high-risk
areas. Devoting a disproportionate amount of time polic-
ing modest entertainment and gift-giving instead of focus-
ing on large government bids, questionable payments to
third-party consultants, or excessive discounts to resellers
and distributors may indicate that a company’s compli-
ance program is ineffective. A $50 million contract with a

government agency in a high-risk country warrants greater

HOUSE_OVERSIGHT_022560

"
IMAGES-008-HOUSE_OVERSIGHT_024632.txt,"REPORT HIGHLIGHTS

Select Countries with Legalized Cannabis Access (January 2018)

GE Recreational Law* ¥
EE Medical Law

( State/Province Conflict
with Federal Law

*Canada currently has a medical law. Assumes Canada enacts a proposed recreational law in mid-2018.

U.S. State Cannabis Laws (January 2018)

GE Recreational Law

EE Medical Law
[) CBDiLimited Law

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024632
"
IMAGES-009-HOUSE_OVERSIGHT_027772.txt,"Flags: 1085445
Is Read: No
Is Invitation: No

GUID: Cé62EF51B-4D17-4C3C-936A-5778A46E1BBD

Message: he will say trump never paid him , he wasn't his atony
so not bound.

Sender: e:jeeitunes@gmail.com

Time: 06/13/19 04:40:09 PM (582162009)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: FEDS51746-CB2C-4D63-BBOD-163717E20DF6

Message: attorney

sender : ay

Time: 06/13/19 04:41:03 PM (582162063)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 4DB2D686-CF02-4C48-A381-21834B56332A

Message: The worst

sender:

Time: 06/13/19 04:41:18 PM (582162078)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 8E12EF77-5F36-4E26-BA04-68552BFC6CD5

Message: This is as bad as his Qatar sell out

Sender: e:jeeitunes@gmail.com

Time: 06/13/19 04:41:47 PM (582162107)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: F88734CB-3CB2-455B-9345-E8AA94078881

Message: there is a new yorker article about to come out that is

Time: 06/13/19 04:42:06 PM (582162126)
Flags: 1060865

Is Read: Yes

just talked to him

devastating to him

HOUSE_OVERSIGHT_027772
"
IMAGES-006-HOUSE_OVERSIGHT_021420.txt,"Begin forwarded message:

From: Peter Aldhos
Subject: URGENT: BuzzFeed News inquiry re allegations of sexual harassment
Date: December 10, 2017 at 5:12:27 PM PST

Dr. Krauss:

As you know, I’m a reporter for BuzzFeed News who has been investigating sexual misconduct allegations
against you. As we've already discussed by email, I’d very much like to interview you about these allegations
in detail.

In particular, you stated in an email sent on Nov 13 that two universities had investigated an incident (# 6
below). You claimed that “both Universities independently concluded that the report was unsubstantiated and
fabricated with malicious intent.” We are not aware that either university concluded fabrication or malicious
intent, so if you have evidence to support this assertion, we would like to see and discuss it.

The story concerns your actions towards students while a professor of physics at Case Western Reserve
University, as well as your conduct in non-academic settings as a prominent figure in the skeptics movement.
| am reporting this story along with two of my colleagues on the science desk, Azeen Ghorayshi and Virginia
Hughes.

Our story is about several allegations of sexual misconduct dating from 2006 to 2016 (see full details below).
Our reporting also goes into how the various institutions you have been affiliated with — Case Western,
Arizona State University, the Australian National University, the New College of the Humanities, and the
Center for Inquiry, for which you serve as an honorary member of the board of directors — have handled
complaints and concerns about your behavior during this time.

Our story is corroborated by emails, university documents, official complaints, testimony from victims and
eyewitnesses, and interviews with more than two dozen of your current and former academic colleagues,
students, and peers in the skeptics movement.

| wanted to offer you the opportunity to comment and/or respond to the main facts we plan to publish. If you
wish to comment on any of the below findings, we need to hear from you as soon as possible. We are
planning on publishing our story Tuesday morning, Eastern US Time.

Based on our reporting, this is what we plan to publish:

Incident 1:

° In November of 2006, at an event launching the new Center for Inquiry in Washington D.C., you met a
volunteer for CFI D.C.

° At the event, you asked for her business card. Later, you followed her as she was leaving and asked
her if she was “of age.”

° Later, you emailed her to invite her to dinner.

° You planned to dine with her in the restaurant at the Washington D.C. hotel where you were staying.

° You told her to come up to your room first because you needed to finish some work.

° In your hotel room, you seemed in no rush to leave. You ordered a cheese plate, and later champagne,
despite her suggestion that you go down to dinner.

° 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.”

HOUSE_OVERSIGHT_021420
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i"",""layout""™:""bylineContentLayout"", ""role"": ""byline"", ""text"":""By Rebecca

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i"",""layout"":""articleHeaderContentLayout"", ""role"": ""header"", ""type"":""container""}, {""componen
ts"":[{""caption"":""Photo: Universal History Archive/UIG via Getty

Images"", “captionComponent""™:{""text"":""Photo: Universal History Archive/UIG via Getty
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1"",""inlineTextsStyles"": [{""range""™: {""length"":53,""start"":0},""textStyle"":"" anf-ts-
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3""}],""Layout"":""bodyContentLayout"", ""role"": ""caption"", ""text"":""Photo: Universal History
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i"", ""layout"": ""photoContainerContentLayout"", ""role"": ""container"", ""type"":""container""}, {""addi

tions"": [{""URL"":""https://apple.news/AMbaaxZ9gS6-
CI3N1TiC5UQ"", ""range"": {""length"":15, ""start"":57}, ""type™:""link""}, {""URL"":""https://apple.news
/AOFkbyzBITvOggkkyEQGJ1A"", ""range"": {""length"":20,""start"":357}, ""type"":""Link""}],""identifier
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1"",""inlineTextStyles"": [{""range"":{""length"":459, ""start"":0},""textsStyle"":"" anf-ts-
11""}],""layout"":""bodyContentLayout"", ""role"":""body"",""text"":""I write this not knowing if by
the time it is published, Brett Kavanaugh will still be the Supreme Court nominee, or
whether more people will have come forward with more stories of assault or degradation,
or whether Chuck Grassley or Donald Trump will have doubled down on their inhumanity,
or whether there will be mor vidence put forth discrediting the women coming forward
with stories about Brett Kavanaugh or other men currently engaged in his
defense."",""type"":""text""}, {""identifier""™:"" anf-body-
2"",""inlineTextStyles"":[{""range"":{""length"":217,""start"":0},""textStyle"":"" anf-ts-
11""}J],""layout"": ""bodyContentLayout"", ""role"": ""body"", ""text"":""There is so much I donde™t
know about whatd€™s going to happen next, whether on the Supreme Court or in the
midterm elections or when it comes to the fate of the Trump administration or the
future of the Democratic
Party."", ""type"": ""text""}, {""additions"": [{""URL"":""https://apple.news/ARif95BbdToiojzs2Dy5c5w
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1i""}],""layout"":""bodyContentLayout"", ""role"":""body"", ""text"":""But what I do know with
absolute assurance is that we are living through a period in which women are enacting
crucial, swift, large-scale social and political

change."", ""type"": ""text™}, {""additions"": [{""URL"":""https://apple.news/A2GxjcUi1EQdiGFPOLKGwE

W

Zz,

HOUSE_OVERSIGHT_028441
"
IMAGES-005-HOUSE_OVERSIGHT_019460.txt,"Res bf CY EY UM
Centre De Formation Technique Pour
L’Avancement Des Jeunes Du Sud’Est Inc.

‘The costs, which are listed in USD, are broken down as follows:

Unit Price
Administration Amount (per month)
Secretary
Instructor
Security guard (morning/evening)
Technician for maintenance
Cleaning person
Program Director
Executive Director

14

13

Total
(per year)

$4,800
$30,000
$3,600
$4,800
$4,500
$48,000
$36,000
$131,700

Unit Price

Current Expenses Amount (per month)
Wired telephone

Electricity

Drinking water

Internet

Television

Total
(per year)

C. Furniture Amount Unit Price Total

$300
$200
$25
$75
$300
$400
$100
$50

Pattern tables 4
Computer tables 4
Metal folding chairs
Office chair
Ordinary desk
Large filing cabinets
Small filing cabinet
Blackboard
354

$15,250

PO Box 666 Brentwood, NY 11717 © Phone (631) 273-4100 © Fax (631) 273-4111 © yair@cefotaj.org © Wwww.cefotaj.org

HOUSE_OVERSIGHT_019460
"
TEXT-001-HOUSE_OVERSIGHT_031705.txt,"From: 
Sent: 8/2/2012 5:57:19 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Fwd: Why not in Vegas? 
Importance: High 
Why Not in Vegas? 
By THOMAS L. FRIEDMAN 
Published: July 31, 2012 418 Comments 
• FACEBOOK 
• TWITTER 
• GOOGLE+ 
• E-MAIL 
• SHARE 
• PRINT 
• REPRINTS 
• 
I'll make this quick. I have one question and one observation about Mitt Romney's visit to Israel. The question 
is this: Since the whole trip was not about learning anything but about how to satisfy the political whims of the 
right-wing, super pro-Bibi Netanyahu, American Jewish casino magnate Sheldon Adelson, why didn't they just 
do the whole thing in Las Vegas? I mean, it was all about money anyway — how much Romney would abase 
himself by saying whatever the Israeli right wanted to hear and how big a jackpot of donations Adelson would 
shower on the Romney campaign in return. Really, Vegas would have been so much more appropriate than 
Jerusalem. They could have constructed a plastic Wailing Wall and saved so much on gas. 
HOUSE OVERSIGHT 031705 
Josh Haner/The New York Times 
Thomas L. Friedman 
Go to Columnist Page » 
Related 
• Romney Courts Campaign Donors in Israel (July 31, 2012) 
• The Caucus: Romney's Remarks About Palestinians Draw Criticism(July 30, 2012) 
Related in Opinion 
• Op-Ed Columnist: Gadding of a Gawky Gowk (August 1, 2012) 
• Editorial: Mr. Romney Stumps in Israel (July 31, 2012) 
• Taking Note: If It Works in Israel...(July 31, 2012) 
• Op-Ed Contributor: Israel's Settlers Are Here to Stay (July 26, 2012) 
• Times Topics: Middle East I United States Elections 
Connect With Us on Twitter 
For Op-Ed, follow@nytopinion and to hear from the editorial page editor, Andrew Rosenthal, 
follow@andyrNYT. 
Readers' Comments 
Readers shared their thoughts on this article. 
• Read All Comments (418) » 
The observation is this: Much of what is wrong with the U.S.-Israel relationship today can be found in that 
Romney trip. In recent years, the Republican Party has decided to make Israel a wedge issue. In order to garner 
more Jewish (and evangelical) votes and money, the G.O.P. decided to ""out-pro-Israel"" the Democrats by being 
even more unquestioning of Israel. This arms race has pulled the Democratic Party to the right on the Middle 
East and has basically forced the Obama team to shut down the peace process and drop any demands that Israel 
freeze settlements. This, in turn, has created a culture in Washington where State Department officials, not to 
mention politicians, are reluctant to even state publicly what is U.S. policy — that settlements are ""an obstacle 
to peace"" — for fear of being denounced as anti-Israel. 
Add on top of that, the increasing role of money in U.S. politics and the importance of single donors who can 
write megachecks to ""super PACs"" — and the fact that the main Israel lobby, Aipac, has made itself the feared 
arbiter of which lawmakers are ""pro"" and which are ""anti-Israel"" and, therefore, who should get donations and 
who should not — and you have a situation in which there are almost no brakes, no red lights, around Israel 
coming from America anymore. No wonder settlers now boast on op-ed pages that the game is over, they've 
won, the West Bank will remain with Israel forever — and they don't care what absorbing all of its Palestinians 
will mean for Israel's future as a Jewish democracy. 
It is into this environment that Romney wandered to add more pandering and to declare how he will be so much 
nicer to Israel than big, bad Obama. This is a canard. On what matters to Israel's survival — advanced 
HOUSE OVERSIGHT 031706 
weaponry and intelligence — Defense Minister Ehud Barak told CNN on Monday, ""I should tell you honestly 
that this administration under President Obama is doing in regard to our security more than anything that I can 
remember in the past."" 
While Romney had time for a $50,000-a-plate breakfast with American Jewish donors in Jerusalem, with 
Adelson at his elbow, he did not have two hours to go to Ramallah, the seat of the Palestinian Authority, to meet 
with its president, Mahmoud Abbas, or to share publicly any ideas on how he would advance the peace process. 
He did have time, though, to point out to his Jewish hosts that Israelis are clearly more culturally entrepreneurial 
than Palestinians. Israel today is an amazing beehive of innovation — thanks, in part, to an influx of Russian 
brainpower, massive U.S. aid and smart policies. It's something Jews should be proud of But had Romney gone 
to Ramallah he would have seen a Palestinian beehive of entrepreneurship, too, albeit small, but not bad for a 
people living under occupation. Palestinian business talent also built the Persian Gulf states. In short, Romney 
didn't know what he was talking about. 
On peace, the Palestinians' diplomacy has been a fractured mess, and I still don't know if they can be a partner 
for a secure two-state deal with even the most liberal Israeli government. But I do know this: It is in Israel's 
overwhelming interest to test, test and have the U.S. keep testing creative ideas for a two-state solution. That is 
what a real U.S. friend would promise to do. Otherwise, Israel could be doomed to become a kind of apartheid 
South Africa. 
And here is what I also know: The three U.S. statesmen who have done the most to make Israel more secure and 
accepted in the region all told blunt truths to every Israeli or Arab leader: Jimmy Carter, who helped forge a 
lasting peace between Israel and Egypt; Henry Kissinger, who built the post-1973 war disengagement 
agreements with Syria, Israel and Egypt; and James Baker, who engineered the Madrid peace conference. All of 
them knew that to make progress in this region you have to get in the face of both sides. They both need the 
excuse at times that ""the Americans made me do it,"" because their own politics are too knotted to move on their 
own. 
So how about all you U.S. politicians — Republicans and Democrats — stop feeding off this conflict for 
political gain. Stop using this conflict as a backdrop for campaign photo-ops and fund-raisers. Stop making 
things even worse by telling the most hard-line Israelis everything that they want to hear, just to grovel for 
Jewish votes and money, while blatantly ignoring the other side. There are real lives at stake out there. If you're 
not going to do something constructive, stay away. They can make enough trouble for themselves on their own. 
Sent from my iPad 
HOUSE OVERSIGHT 031707 
"
IMAGES-002-HOUSE_OVERSIGHT_014342.txt,"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%
50%
40%
30%
20%
10%
0%
Be even more Increase the dividend Support faster organic Pursue M&A
aggressive on payout growth opportunities
buybacks

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 Bankof America 2
Merrill Lynch

HOUSE_OVERSIGHT_014342
"
IMAGES-001-HOUSE_OVERSIGHT_011082.txt,"Consider also the history of corporate leverage. Equities are riskier because bond
interest is paid first. If equities grew faster, however, leverage would constantly

decline. That is not what we see.

This inferred concentration of risk premium in cash flow rate is convenient for
testing. Growth and return are two of the most closely followed variables in
economics. We have no direct measure of the pure consumption rate, or cash flow
rate at the collective scale. Nor have we any direct measure of growth and return to
total capital at any scale. But we have a good idea of average return and growth and
cash flow to securities and business assets. By the maximand rule, return to human
capital should be the same but for differences in risk. | model human capital as
somewhat riskier, for reasons just given, and human capital is the larger factor.
Then if I am right in placing the risk premium within the cash flow component of
return, and in estimating average-risk cash flow rate at 3.5%, cash-flow rate to the

business sector as a whole should be somewhat less.

Next generation theory predicts at the collective scale. Collective return is implicitly
average return, and that means average-risk return. My reading of history, which

rules out progressive growth of higher-risk assets at the expense of lower-risk ones,
simplifies that to average-risk cash flow plus whatever collective or average growth

happens to be at the moment.

Don’t Grandparents Invest?

Next generation theory assumes that each generation invests all its capital of both
factors in the next within the generation length. We expect it to do the same in turn.
We care about grandoffspring too, but serve them best by trusting and enabling

their parents only.

A first reaction is that this denies the obvious. Humans today, in advanced countries,
normally live to nearly three times the generation length. (3 x 28.5 = 85.5). Even

retirement at age 65 comes eight years after twice that length. And job number one

Chapter 7 Petty’s Idea 2/3/16 23

HOUSE_OVERSIGHT_011082
"
IMAGES-002-HOUSE_OVERSIGHT_012733.txt,"Looking more like some millionaire's Miami crib than a traditional
Cancun resort, the all white, Zen-minimalist La Amada Hotel exudes a
down-to-earth sexiness and an understated elegance - all creamy sofas,
gauzy curtains and personal Jacuzzis. Just 20 minutes north of central
Cancun in Playa Mujeres, La Amada is on a long, pristine and very
secluded beach.

Click here to visit sale

Stately Style in the Heart of Washington D.C.

The Madison - D.C.

HOUSE_OVERSIGHT_012733
"
IMAGES-003-HOUSE_OVERSIGHT_015415.txt,"And “Don’ t drop the soap” even made its way to the animated Family

Guy.

Meanwhile, reacting to the Tosh tirade, Julie Burton, president of the
Women’ s Media Center, stated: “If free speech permits a comedian to
suggest a woman in his audience should be gang-raped, then it certainly
permits us to object, and to ask what message this sends to survivors or to
perpetuators. Tosh’ s comment was just one extreme example of pop
culture’ s dismissive treatment of sexualized violence, which desensitizes
audiences to enormous human suffering. Internet outcry is encouraging,

but popular media needs to push back too.”

And the original blogger posted another message:

“My friend and | wanted to thank everyone for there /s/c/ support
and for getting this story out there. We just wanted everyone to know
what Daniel Tosh had done and if you didn’ t agree then to stop
following him. My friend is surprised to have gotten any form of an
apology and doesn’ t wish to press any further charges against [him].”
What? Press charges? Rape is a crime. Rape jokes aren’ t. They are the risk
of free speech. The blog concluded, “She does plan on returning to
comedy shows in the future, but to see comedians that she’ s seen before

or to at least look up artists before going to their shows.”

HOUSE_OVERSIGHT_015415
"
IMAGES-004-HOUSE_OVERSIGHT_018337.txt,"important idea of the scientist Dan Geer to the ever more fraught relations.14”
Perhaps the US and China could work together to buy up and then publish all the
zero days as they emerged, | thought.!48 Instead of the dangerous code falling into
the hands of cybercriminals, Mafiosi and terrorists, the two countries could lead an
effort to jointly buy any new exploit for five times what anyone else would pay - and
then immediately publish what they had bought and the necessary patch. This
would make the network safer for everyone. I should have known better.

The US and China and other nations were (and are) buying world-class zero days.
But they were never going to publish them. They were buying them fo use.
Sometimes against each other. Sometimes, unnervingly, against their own citizens.
And they needed to keep on buying and developing and hiding such tools on an
exhausting, never-ending security treadmill because, unlike traditional weapons,
which could be stockpiled to use whenever they were needed in the future, the holes
of the most valuable zero-days might be patched at any moment, making a once
devastating bit of malware instantly useless. And, as the systems matured and
accelerated, this meant that they had to run ever faster to keep up. Which further
reduced their incentive to “buy and publish” what they did have. Little surprise then
that all around the IT universe in recent years, the incidence of reporting dangerous
bugs has been declining, even as we know the number of known security holes is
certainly growing. 149

Grab the five nearest electronic devices near you and you can be pretty sure each is
vulnerable; which of course means you are vulnerable too. Not merely to the loss of
your secrets, but also to perversion and control. This is the cold truth: that old
hacker ethos, the one spread out so warmly on Amsterdam grass 20 years ago, the
be liberal in what you accept frontier society instinct, is dead. Weird machines and
normal machines, weird networks and normal ones, people made weird by
technological manipulation and those who have note - they will all, inevitably, live
side by side. The more essential machines become to our connected lives, the more
avidly weird and hacked the networks will become. The incentive to whistle up
control of the systems, and control of those of enmeshed in them, is the only thing
that seems to grow faster than the system itself.

Ds

This vulnerability of connected systems is an important mile marker in our route
towards understanding some principles of power in a connected age. “Read over
and over again the campaigns of Alexander, Hannibal, Caesar, Gustavus, Turenne,
Eugene and Frederick,” Napoleon wrote once. “Make them your models. This is the

147 | was thinking: Dan Geer, “Cybersecurity as Realpolitik”, speech delivered at
BlackHat, August 6,2014

148 Perhaps: Joshua Cooper Ramo “Talking Cyberthreat with China”, International
Herald Tribune, July 10, 2013

149 Little surprise: Linder Gayten Back to Basics p. 58

105

HOUSE_OVERSIGHT_018337
"
IMAGES-004-HOUSE_OVERSIGHT_017004.txt,">

Number of words

T T T T T T T T T T ¥
1M 1
oO
Lo)
i)
ps
oO
>
Q
1S)
500K OED = 4
[=
W355 90
2
AHD4 ™ i)
ou 1 1 1 n L 1 1 1 1 1
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IMAGES-007-HOUSE_OVERSIGHT_023119.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

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IMAGES-006-HOUSE_OVERSIGHT_021347.txt,"Inferring Minds Where None
Can Be Seen

The social brain seeks
connections with others. But what is the
foundation that we use to build such
connections? We experience empathy as
a form of emotional resonance and
understanding of other people. This
connection allows us to comfort and
support and celebrate with others. Being
in tune with emotional states of others
allows us to respond in ways that
strengthen a group. But how do we
understand the thoughts and goals of
others? How do we predict choices and
decisions to facilitate cooperation in
groups? Anthropomorphism is the basis
for predicting behavior and thoughts and
goals. Nick Epley discusses how
anthropomorphism is rooted in an
egocentric view of others. Moreover our
view of others is not confined to the
others that are people. It is perhaps
reflective of the deep and fundamental
nature of anthropomorphism in the
social brain that its anthropomorphic
inferences about agents can be derived
from observed behavior, allowing us to
understand “minds” where none may
exist, as in mechanical toys or alarm
clocks. Of course we tend to understand
those minds by thinking they are just
like us.

Even when there is no agent to
be seen, events in the world may be
understood by attributing them to unseen
agents. During World War II, the
bombing of London was demonstrably
random, but citizens of London could
not help but discern intentional patterns
in the attacks. As Epley points out,
hurricanes and floods are even today
attributed to the hand of God, perhaps an
angry God. Clark Gilpin discusses how
religions may use this aspect of the

Page |101

social brain to achieve an understanding
of God and what God wants. This kind
of anthropomorphism can be taken to
different metaphoric extremes in
personifying God as father or friend.
But an overly concrete personification
may have costs perhaps diminishing the
universality and pervasiveness of God in
other religions. Thus religions may
differ in theological perspective on the
value of the anthropomorphic impulse
inherent in the social brain.

HOUSE_OVERSIGHT_021347
"
IMAGES-009-HOUSE_OVERSIGHT_027015.txt,"a “moment of truth”, where the Ayatollahs will
give up their nuclear aspirations.

e Therefore, all options must remain on the
table.

e We have stated this time and again.

e And we expect all those who say it... to mean
it...

e Ladies and gentlemen... We mean it.

e And let me repeat it: we... mean it.

2K 2K OK KOK KOK OK OK OK OK 6 OK OK OK OK OK OK KOK KOK KOK KK OK OK OK OK OK OK OK OK OK OK KK

HOUSE_OVERSIGHT_027015
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HOUSE_OVERSIGHT_028440
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IMAGES-006-HOUSE_OVERSIGHT_021421.txt,"° 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.

° During the convention, attendees including you and Richard Dawkins went for dinner with the student
and volunteers for Dawkins’ foundation.

° Afterwards, the student invited you to join the volunteers for a drink.

° You asked her to come get you in your hotel room. She was wary of your intentions, and so brought a

male friend with her. Opening the door to find them both there, you informed her you had decided not to go.
° You met this student again at the American Atheists Convention in Des Moines, lowa, in April 2011.

HOUSE_OVERSIGHT_021421
"
IMAGES-009-HOUSE_OVERSIGHT_027773.txt,"Is Invitation: No

T,

GUID: 27AF662E-8D5C-4B74-80A7-5722BBB87DD7

Message: That's why he made this move

Sender: e:jeeitunes@gmail.com

Time: 06/13/19 04:42:10 PM (582162130)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 597ELEC8-F6F0-4DB5-8913-8F1B96A785EA

Message: yup

sender:

Time: 06/13/19 04:42:38 PM (582162158)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 933DA4C8-AB7A-4FD1-9000-FF2988B3DCDC

Message: He is dumb but not stupid

HOUSE_OVERSIGHT_027773
"
IMAGES-008-HOUSE_OVERSIGHT_024633.txt,"Progression of U.S. State Cannabis Laws

f

P
me ae

lat
ON

I) CBD/Limited Law

HOUSE_OVERSIGHT_024633
"
IMAGES-007-HOUSE_OVERSIGHT_022561.txt,"59

scrutiny than modest and routine gifts and entertainment.
Similarly, performing identical due diligence on all third-
party agents, irrespective of risk factors, is often counter-
productive, diverting attention and resources away from
those third parties that pose the most significant risks.
DOJ and SEC will give meaningful credit to a company
that implements in good faith a comprehensive, risk-based
compliance program, even if that program does not pre-
vent an infraction in a low risk area because greater atten-
tion and resources had been devoted to a higher risk area.
Conversely, a company that fails to prevent an FCPA viola-
tion on an economically significant, high-risk transaction
because it failed to perform a level of due diligence com-
mensurate with the size and risk of the transaction is likely
to receive reduced credit based on the quality and effective-
ness of its compliance program.

As a company’s risk for FCPA violations increases,
that business should consider increasing its compliance
procedures, including due diligence and periodic internal
audits. The degree of appropriate due diligence is fact-spe-
cific and should vary based on industry, country, size, and
nature of the transaction, and the method and amount of
third-party compensation. Factors to consider, for instance,
include risks presented by: the country and industry sector,
the business opportunity, potential business partners, level
of involvement with governments, amount of government
regulation and oversight, and exposure to customs and
immigration in conducting business affairs. When assessing
a company’s compliance program, DOJ and SEC take into
account whether and to what degree a company analyzes

and addresses the particular risks it faces.

Training and Continuing Advice

Compliance policies cannot work unless effectively
communicated throughout a company. Accordingly, DOJ
and SEC will evaluate whether a company has taken steps to
ensure that relevant policies and procedures have been com-
municated throughout the organization, including through
periodic training and certification for all directors, officers,

relevant employees, and, where appropriate, agents and
y. g

business partners.*!* For example, many larger companies
have implemented a mix of web-based and in-person train-
ing conducted at varying intervals. Such training typically
covers company policies and procedures, instruction on
applicable laws, practical advice to address real-life scenar-
ios, and case studies. Regardless of how a company chooses
to conduct its training, however, the information should
be presented in a manner appropriate for the targeted audi-
ence, including providing training and training materials
in the local language. For example, companies may want to
consider providing different types of training to their sales
personnel and accounting personnel with hypotheticals
or sample situations that are similar to the situations they
might encounter. In addition to the existence and scope of
a company’s training program, a company should develop
appropriate measures, depending on the size and sophisti-
cation of the particular company, to provide guidance and
advice on complying with the company’s ethics and com-
pliance program, including when such advice is needed
urgently. Such measures will help ensure that the compli-
ance program is understood and followed appropriately at

all levels of the company.

Incentives and Disciplinary Measures

In addition to evaluating the design and implementa-
tion of a compliance program throughout an organization,
enforcement of that program is fundamental to its effec-
tiveness.” A compliance program should apply from the
board room to the supply room—no one should be beyond
its reach. DOJ and SEC will thus consider whether, when
enforcing a compliance program, a company has appropri-
ate and clear disciplinary procedures, whether those proce-
dures are applied reliably and promptly, and whether they
are commensurate with the violation. Many companies
have found that publicizing disciplinary actions internally,
where appropriate under local law, can have an important
deterrent effect, demonstrating that unethical and unlawful
actions have swift and sure consequences.

DOJ and SEC recognize that positive incentives can

also drive compliant behavior. These incentives can take many

HOUSE_OVERSIGHT_022561

"
IMAGES-004-HOUSE_OVERSIGHT_018451.txt,"""How do you know?"" I asked, irritated by his presumption, nervously curious. I wasn't
sure I was what he thought I was -- wasn't sure what had been going on that night,
beyond alcohol dulling my reactions and feelings. But I knew I hadn't been abused or
violated. I hadn't asked him to stop, and I wanted to figure out why. ""How did you know
about me?”

""I can tell,"" he said, and grinned. ""With you, it was obvious.” He paused, added quietly,
""You were begging for it.”

A couple of hours later, we remained fully clothed, my face was buried in his pillow, and
I was crying. He'd pinned me down so I couldn't move, and was raking his nails across
what was exposed of my tank-topped back. When Richard first spotted the tears, he'd
asked if I wanted a break. I'd said that it was okay, that he should continue, that I was
fine.

I felt myself fragmenting, desperation and terror and pain pouring through me in an
unbearable, necessary torrent. I told myself over and over that it didn't hurt that much, but
I couldn't stop myself from tensing, crying out. After a while, I found myself saying,
""No.""

I felt him check himself, shifting his weight from my back. ""Can we clarify something?”
he asked gently. ""Do you really want me to stop when you say no?”

No, I realized, J don't, and something vital in my psyche seemed to snap. The tears
overwhelmed me. I couldn't get an answer out through my sobs, but even if I could have,
I haven't the faintest idea what I might have said.

""We should take a break,"" he decided, and moved away. I'll never forget the relief -- and
desolation -- I felt as he did.

TK OK ok

It was a long time later that I remembered: I had met someone like Richard, years before.
It had been in spring 2003; the guy was thin and pale, dressing mainly in black. I hadn't
once thought of him in a romantic light.

I'd counted him a friend, but had only been alone with him once. We were in his living
room, seated next to each other on dun-colored carpet. I couldn't recall how it started --
we'd been sitting playing video games? had he tickled me as I shouted invective at the
screen? -- but it ended with him holding my wrists, me lying back on the floor and
wondering how to get him off me.

I'd thought he might kiss me, so I turned my head away. Instead, he bit my neck. ""No,"" I
said aloud, more in startlement than anything else, and he gave me a searching look -- as
if he wasn't sure I was serious. ""Please let me up,” I said, and he asked, ""Why?""

I didn't feel panicked, but strangely at a loss: he didn't seem to take my objection
seriously. Yet he wasn't particularly threatening me, and I wasn't afraid. I explained that I
was in a committed, monogamous relationship I didn't want to disrupt; I carefully didn't
react when he bit me again, although it hurt.

I didn't say I wasn't getting anything out of my powerlessness or his apparent desire to

HOUSE_OVERSIGHT_018451
"
IMAGES-004-HOUSE_OVERSIGHT_017762.txt,"Page 48 of 52
2005 B.Y.U.L. Rev. 835, #917

The CVRA guarantees victims the right ""to be reasonably heard"" at ""any public proceeding ... involving release."" 37° A

similar right already exists for victims of stalking offenses. **” This proposed rule simply recognizes a victim's right ""to be
reasonably heard"" and further directs the court to consider the victim's input. The victim's right to be heard would be

meaningless if the court did not consider the victim's views. Moreover, existing law appears to recognize that the court should

consider the victim's concerns. 328

Rule 48 - Victims' Views on Dismissal To Be Considered
The Proposal:

The court should be required to consider the views of victims in deciding whether to grant a government motion to dismiss
charges as follows:
[#918]

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.

The Rationale:

This proposed change would implement a victim's right to be ""treated with fairness"" and to be heard at any proceeding
""involving release"" of the defendant by requiring the court to consider the views of the victim before granting a government
motion to dismiss a charge. The rule already requires leave of court before a dismissal can be approved. In determining whether
to grant leave, the court should consider whether dismissal is ""clearly contrary to manifest public interest."" 32? Among the
relevant factors in making this public interest determination is whether the prosecution's motion to dismiss is motivated by
""animus towards the victim."" 73° The proposed rule would simply require the court to consider the views of the victim in
making this determination, leaving the weight to afford those views up to the court.

Rule 50 - Victims’ Right to Proceedings Free from Unreasonable Delay

The Proposal:

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.
[*919]

(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.

326 18 U.S.C.A. 3771 (a)(4).
320 18 UES. 2263)
328 See, e.g., J8 U.S.C. 3142(c) (court to consider whether release of the defendant ""will endanger the safety of any other person"").

329 United States v. Cowan, 524 F.2d 504, 513 (Sth Cir. 1975).

330 In re Richards, 213 F.3d 773, 787 (3d Cir. 2000).

DAVID SCHOEN

HOUSE_OVERSIGHT_017762
"
IMAGES-007-HOUSE_OVERSIGHT_024110.txt,"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.

' 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.

. 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.

99 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024110
"
IMAGES-003-HOUSE_OVERSIGHT_015373.txt,"supposed to be Jewish,” Groucho said, “but | was seeing the most
beautiful visions of Gothic cathedrals. Do you think Bach knew he was
doing that?”

“| don't know. | was seeing beehives and honeycombs myself.”

Later, we were listening to the score of a musical comedy, Fanny.
There was one song called “Welcome Home,"" where the lyrics go
something like, “Welcome home, says the clock,” and the chair says,

“Welcome home,” and so do various other pieces of furniture. Groucho
started acting out each line, as though he were actually beng greeted by
the clock, the chair, and the rest of the furniture. He was like a child,
charmed by his own ability to respond to the music that way.

There was a bowl of fruit on the dining room table. During a snack,
he said, “I never thought eating a nice juicy plum would be the biggest
thrill of my life.” Then we talked about the sexual revolution. Groucho
asked, “Have you ever laid two ladies together?”

| told him about the time that | was being interviewed by a couple of
students from a Catholic girls’ school. Suddenly Sheila, 7he Reaj/ist's

“Scapegoat,” and Marcia, the “Shit-On” --she had given herself that
title because “What could be lower than a Scapegoat?” --walked out of

their office totally nude. “Sorry to interrupt, Paul,” said Sheila, “but it's

HOUSE_OVERSIGHT_015373
"
IMAGES-012-HOUSE_OVERSIGHT_033004.txt,"From: jeffrey E. [jeevacation@gmail.com]
Sent: 5/30/2017 7:53:55 PM

To: Weingarten, Reid as

Importance: — High

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_033004
"
IMAGES-010-HOUSE_OVERSIGHT_029875.txt,"=

usatoday.com / Scott Gleeson The 15-year-old American pulled off
another huge upset Friday, this one in a third-round thriller that saw her

come back to beat Slovenian Polona Hercog...

Alex Morgan and Alyssa Naeher lead
U.S. women to 2-1 victory over England
in World Cup semis

HOUSE_OVERSIGHT_029875
"
IMAGES-008-HOUSE_OVERSIGHT_026024.txt,"From: ee

Sent: 11/28/2016 11:36:54 AM

To: DEE jecvecation@email.com; I (sienna
ee

Subject: Réf. : TR:

Attachments: butterfly_top.gif; butterfly_bottom.gif

Importance: — High

Dear jeffrey

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

De : Jean HUGUEN

Date : 28/11/2016 10:01:14
A : ‘Jean’

Sujet : TR:

De : jeffrey E. [mailto:jeevacation@gmail.com]
Envoyé : lundi 28 novembre 2016 01:23

A : jean.huguen@albertopinto.com; Lesley Groff iy
Objet :

can you delay your trip one week, . trump related issues occupying my time. say 13 14 instead

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_026024
"
IMAGES-002-HOUSE_OVERSIGHT_014424.txt,"Unauthorized redistribution of this report is prohibited. This report is intended for amanda.ens@baml.com

Japan Macro Watch
USD/JPY: Buy-on-dip cycle to continue; 115-

120 by end-2017

Buy-on-dip cycle continues

While we had acknowledged the risk of the “final JPY strength” this autumn on the Bo)'s
limit and US elections, it has been our view that the USD/JPY’s dips was to be bought as
the 100-105 level was where medium-term directional risk was likely to reverse to the
upside (Dollar's 100 Yen risk 02 March 2016). In our view, a Republican sweep would
first lead to JPY strength on risk aversion, but eventually be the most bullish outcome for
the USD/JPY. The price action last week — a shallow dip — tells us two things about the
USD/PY. First, the view that a GOP sweep would boost the USD/JPY was probably more
widely shared than we had thought, so a dip failed to stretch. Second, there may be
more potential USD/)PY buyers than sellers, which is in stark contrast to last year, when
there were many more potential USD/JPY sellers than buyers (Case for a stronger yen in
2016 18 December 2015). The “buy-on-dip” cycle in USD/JPY is likely to continue as we
expect the pair to reach 115-120 by end-2017. We remain constructive about Japanese
equities and see banks, insurance continue outperforming REITs near-term.

Higher US rates (esp. if steepening) to boost USD/JPY
USD/JPY performs best at the time of UST bear-steepening as better risk sentiment
reduces the JPY’s safe haven demand and a wider yield spread increases the USD
demand from Japanese investors (Exhibit 2). For our US strategists, the clean sweep
means fiscal easing and higher rates, supporting their higher real rate view (A win for
bond bears and USD bulls 09 November 2016). The USD/JPY has recently tracked real
yield spread closely (Chart 1), and the pair is gradually producing higher carry as
monetary policy is diverging between the US and Japan (Chart 2}. In Japan, fiscal easing
is also a possibility in light of reduced odds of TPP implementation and a potential early
snap election. Any positive impact of Japanese fiscal easing on growth is likely to
manifest itself in higher inflation expectations under the Bo)’s yield-targeting regime,
which means Japanese real interest rates can actually fall.

Watch Abe-Trump meeting - coordination or conflict?

Given the high uncertainty, clarifications on Trump’s policies on trade and currency will
be important for the Japanese market going forward. A potential Abe-Trump meeting in
New York this Thursday (17 Nov), as reported by Japanese media, warrants attention. We
suggested that Trump presidency could potentially reduce flexibility of Abe's political
and diplomatic strategy, reduce positive market risk from Japanese politics, and increase
negative risk from Japan's national security. But this is not known until we see actual
Trump presidency. If the President-elect shows an understanding for the existing Japan-
US alliance and refrains from protectionist rhetoric, it could reduce concerns about
deterioration of the bilateral relationship, supporting USD/JPY and potentially exporter
shares (though reduced odds of TPP implementation is unlikely to change drastically).

Trading ideas and investment strategies discussed herein may give rise to significant risk and are not
suitable for all investors. Investors should have experience in FX markets and the financial resources to
absorb any losses arising from applying these ideas or strategies.

>> Employed by a non-US affiliate of MLPF&S and is not registered/qualified as a research analyst under
the FINRA rules.

Refer to ""Other Important Disclosures"" for information on certain BofA Merrill Lynch entities that take
responsibility for this report in particular jurisdictions.

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 6 to 8. 11686246

Timestamp: 13 November 2016 06:10PM EST

Bankof America
Merrill Lynch

14 November 2016

Investment Strategy
Japan

Shusuke Yamada, CFA >>
FX/Equity Strategist

Merrill Lynch (iapan)

#8] 3 6225 8515
shusuke.yamada@baml.com

Paul Ciana, CMT
Technical Strategist
MLPF&S

+1 646 855 6007
paul.ciana@baml.com

HOUSE_OVERSIGHT_014424
"
IMAGES-005-HOUSE_OVERSIGHT_019306.txt,"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 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 Jesu et Purissimo Corde Mariae et Castissimo Corde Ioseph.

is 2k 3s 2 3s ig 2

Benjamin Harnwell
Founder and President of the Board of Trustees
Dignitatis Humanae Institute

ea —_ |
Offic: iii

Istituto Dignitatis Humanae
44 Via delle Fornaci

Roma 00165

ITALY

@ben_harnwell
www.dignitatishumanae.com

HOUSE_OVERSIGHT_019306
"
IMAGES-006-HOUSE_OVERSIGHT_022128.txt,"Fittyy Ricu

Goldberger said. “There are no pending civil lawsuits. There are
not and should not be any pending investigations, given Mr.
Epstein’s complete fulfillment of all the terms of his non-prosecution
agreement with the federal government.”

If there was an investigation, nothing had come of it yet. For
the moment, Epstein was free—free to turn his attention, again,
to intellectual pursuits. He launched a website, JeffreyEpstein-

CHAPTER 60

Science.com, that featured blog posts such as “Conversations
with Jeffrey Epstein,” “The Value of Quantum Computation to
Jeffrey Epstein,” “Why Evolutionary Biology Intrigues Jeffrey
Epstein,” and “An Understanding of Theoretical Physics from
Jeffrey Epstein.” The latter post began: “This is where Jeffrey
Epstein takes you to the very cutting edge of the frontiers of
knowledge to explore and discuss our basic understanding of
the subtle, simple, and hidden [qualities] that lie beneath... our

th jail, but he wasn’t done settling universe.”

ms. Under the conditions of his f
it, he’s even paid for the victims ,
semed to ensure that he would not
-imes. Double jeopardy was work-
tly of 2010, reports began to appear”
tors were following other leads—

child-trafficking charges and a

j ‘Jeffrey doesn’t know shit about science,” says Stuart Pivar, the
| art collector who has known Epstein for more than three decades.
q “Does he like to act like he does? Yes. But he doesn’t. But as far as
""these academic scientists —without people like him they wouldn’t
have any money.”

4 Other friends of Epstein’s say that he truly did have a bril-

ls office refused to comment. It Tiant mind for science. And in any case, Epstein had done more
2ra 4

1 or deny the existence of an onge
stein’s lawyers told the Daily B
of such an investigation. ‘Tea :
with all state and federal requits :

than sponsor individual scientists. He'd also sponsored confer-
ences on Little Saint Jeff’s. On his website, he announced a con-
ference called Mindshift at which Nobel laureates, such as the
theoretical physicist Murray Gell-Mann, would mix with sur-

» Jat B<ONS, engine j
or proceedings in Palm Beach 4 gineers, and futurists and where professors would

ia
ii

HOUSE_OVERSIGHT_022128
"
IMAGES-010-HOUSE_OVERSIGHT_029861.txt,"Even if Epstein’s attorneys hadn’t opened the door, Scarola said the information
would have likely come out. He says the information will help him undermine
Epstein’s claims that Edwards “ginned up” the allegations to help his former law
partner, imprisoned and disbarred Fort Lauderdale lawyer Scott Rothstein,
perpetuate a $1.2 billion Ponzi scheme.

The revelations of the settlements came as part of an ongoing lawsuit that started as
a dispute between Epstein and Rothstein, both billionaires.

A year after Epstein in 2008 pleaded guilty to solicitation of prostitution and
procuring a minor for prostitution, he sued Rothstein and Edwards, claiming they
trumped up the allegations of sexual molestation to perpetuate the Ponzi scheme.

Rothstein was sentenced to 50 years in prison in 2010 after admitting he had built
his wildly successful law firm by forging the names of federal judges and others to
persuade investors he had negotiated settlements in lawsuits against high-profile
people. Investors were told they could get a cut of the cash.

One of the high-profile people Rothstein used to lure investors was Epstein,
according to a lawsuit West Palm Beach attorney Robert Critton filed on Epstein’s
behalf. According to the lawsuit, Rothstein told investors Epstein, a money
manager, had agreed to settle the lawsuits with the teens for $200 million — a claim
Critton described as “a complete fabrication.”

After Epstein dropped the lawsuit in 2012, Edwards turned the tables on him.
Edwards accused Epstein of filing the lawsuit maliciously to punish him for
representing the young women. Although Edwards was a partner in Rothstein’s now
defunct firm, Scarola claims Epstein had no evidence Edwards was involved in the
Ponzi scheme. Federal prosecutors successfully charged other attorneys and
members of the firm, but Edwards was never implicated, Scarola said in the
malicious prosecution lawsuit.

The revelations about the money Epstein paid to three of the young woman came
last week in documents filed for a hearing Tuesday in preparation for a December
trial on the lawsuit.

Attorney Tonja Haddad Coleman, who represents Epstein, on Tuesday sought a
delay of the trial, in part, because she claimed she has been unable to talk to her
client since his estate on his private island in the U.S. Virgin Islands was devastated
last month by Hurricane Irma. “I’ve had no ability to communicate with Mr.
Epstein,” she said.

Pointing out Epstein’s enormous wealth and his private jet, Palm Beach County
Circuit Judge Donald Hafele rejected her request. While saying he didn’t want to
appear insensitive to those victimized by the storm that hammered the Caribbean

HOUSE_OVERSIGHT_029861
"
TEXT-001-HOUSE_OVERSIGHT_030369.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 4/7/2018 9:36:20 PM 
To: jeffrey epstein [jeeyacation@gmail.com] 
Subject: Fwd: so there is no misunderstanding 
Importance: High 
----------Forwarded message---------- 
From: jeffrey E. <jeevacation@gmail.com> 
Date: Tue, Nov 29, 2016 at 1:27 AM 
Subject: so there is no misunderstanding  
To: Melanie Spinella 
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. 
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 030369 
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 
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including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030370 
"
IMAGES-008-HOUSE_OVERSIGHT_026030.txt,"From: Michael Wolf _

Sent: 11/29/2016 1:19:56 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

They came back to New York yesterday. He would like to meet, tho wary of being seen, etc. I will work it out.

On Mon, Nov 28, 2016 at 12:43 PM, Michael Wolff (i wrote:

He is not so much shy, as paranoid. I have to contact him through his wife on a burner phone, which they don't
reliably check. But have queried.

On Mon, Nov 28, 2016 at 12:39 PM, jeffrey E. <jeevacation@gmail.com> wrote:
im happy to go to him. if he is shy

On Mon, Nov 28, 2016 at 12:23 PM, Michael Wolff {E> vrote:

cool. great.

On Mon, Nov 28, 2016 at 12:22 PM, jeffrey E. <jeevacation@gmail.com> wrote:
wed and fri adn yes, Ive set you up to see the right hand of the Dep Cr Prince

On Mon, Nov 28, 2016 at 12:18 PM, Michael Wolff {jE wrote:

I will ask. How long in New York? Get together?

On Monday, November 28, 2016, jeffrey E. <jeevacation@gmail.com> wrote:
im here today flying to nw york tomow. if he is up to it ild love to sit with him , house or on plane if we
wants a ride

On Mon, Nov 28, 2016 at 12:13 PM, Michael Wolff {iS > wrote:
I think so.

On Mon, Nov 28, 2016 at 12:12 PM, jeffrey E. <jeevacation@gmail.com> wrote:
im in palm beach is roger here?

On Mon, Nov 28, 2016 at 12:11 PM, Michael Wolff it wrote:

Thought you might be interested in this--it's suddenly made me the only liberal-media guy with access

to Trump circle. http://www.hollywoodreporter.com/news/steve-bannon-trump-tower-interview-

trumps-strategist-plots-new-political-movement-948747

And...I have a bit of an idea for you re media and Saudi friends.

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_026030
"
IMAGES-001-HOUSE_OVERSIGHT_011928.txt,"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, and he told The Daily Beast, ""Jeffrey Epstein has fully
complied with all state and federal requirements that arise from the prior proceedings in Palm
Beach. There are no pending civil lawsuits. There are not and should not be any pending criminal
investigations, given Mr. Epstein’s complete fulfillment of all the terms of his non-prosecution
agreement with the federal government.""

Conchita Sarnoff has developed multimedia communication programs for Fortune 500
companies and has produced three current-events debate TV programs, The Americas Forum,
From Beirut to Kabul, and a segment for The Oppenheimer Report . She is writing a book about
child trafficking in America

HOUSE_OVERSIGHT_011928
"
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Japan Macro Watch | 14 November 2016

7

HOUSE_OVERSIGHT_014430
"
IMAGES-005-HOUSE_OVERSIGHT_019312.txt,"From: Steve Ban 0 ie |

Sent: 7/23/2018 12:19:09 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Fw:

Importance: — High

Yes
Sent via BlackBerry by AT&T

From: ""jeffrey E."" <jeevacation@gmail.com>
Date: Mon, 23 Jul 2018 02:02:16 +0200

os >
Subject: Re: Fw:

If you are going to play here , you’!l 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 FG wrote:

Abandon Hope, All Ye Who Enter
Sent via BlackBerry by AT&T

From: ""jeffrey E."" <jeevacation@gmail.com>
Date: Mon, 23 Jul 2018 01:51:58 +0200

Tt:
Subject: Re: Fw:

9th circle

On Mon, Jul 23, 2018 at 1:26 AM Steve Bannon cS wrote:

Sent via BlackBerry by AT&T

From: Benjamin Harnwe!|

Date: Sun, 22 Jul 2018 22:01:54 +0200

To: Steve Bannon >

Subject: 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, (Il Movimento), right in the heart of

HOUSE_OVERSIGHT_019312
"
IMAGES-006-HOUSE_OVERSIGHT_021435.txt,"Page
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HOUSE_OVERSIGHT_021435
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HOUSE_OVERSIGHT_028454
"
IMAGES-009-HOUSE_OVERSIGHT_027767.txt,"Message: Torpedoed !

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HOUSE_OVERSIGHT_027767
"
IMAGES-008-HOUSE_OVERSIGHT_024627.txt,"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. “Goodbye Surfing, Hello God!” is Jules’s most famous
example of rock journalism, but | think his most revolutionary is his article
“The Big Beat.” It appeared in the Playboy-esque Cavalier magazine in 1965
and is one of the earliest writings I’ve 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.

Jules Siegel 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.
COMIC STRIPS
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

thanx 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 in 1969, as an apprentice

underground cartoonist taking too many drugs was really, really awful so I'm grateful for the editor's

HOUSE_OVERSIGHT_024627
"
IMAGES-011-HOUSE_OVERSIGHT_030979.txt,"Kate

Kate Briquelet

Senior Reporter

Join Beast Inside, our new membership program, to get more of the journalism you trust and love.

ed

Virus-free. www.avast.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_030979
"
IMAGES-007-HOUSE_OVERSIGHT_022575.txt,"HOUSE_OVERSIGHT_022575
"
IMAGES-004-HOUSE_OVERSIGHT_018445.txt,"SECTION 1:
The Basics

In which we explore the foundations of S&M, feminism, and sex-positive feminism.

KK ok

S&M [storytime]: Love Bites: An S&M Coming-Out Story

te ok ok

Education [theory]: Liberal, Sex-Positive Sex Education: What's Missing

TK OK ok

Communication [theory]: Sex Communication Tactic Derived From S&M: The
Annotated Safeword

KOK ok

Communication [theory]: Sex Communication Tactic Derived From S&M: Checklists

KK ok

Communication [theory]: Sex Communication Tactic Derived From S&M: Journal-
Keeping

te OK ok

Communication [storytime]: Sex Communication Case Studies

te ok ok

Feminism [theory]: Towards My Personal Sex-Positive Feminist 101

KOK ok

S&M [theory]: S&M Superpowers

KK ok

S&M [theory]: BDSM Can Be ""Love Sex"" Too

te Kk ok

S&M [theory]: Body Chemistry and S&M

TK OK ok

S&M [theory]: Going Under

KK Ok

Orgasmic ""Dysfunction"" [storytime]: A Unified Theory of Orgasm

te OK ok

HOUSE_OVERSIGHT_018445
"
IMAGES-008-HOUSE_OVERSIGHT_025539.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_025539
"
IMAGES-004-HOUSE_OVERSIGHT_017776.txt,"Case 1:19-cv-03377 Document 1-8 Filed 04/16/19 Page 6 of 16

http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303

“T think we both possess the skill of seeing patterns,” says Wexner. “But Jeffrey sees patterns in
politics and financial markets, and I see patterns in lifestyle and fashion trends. My skills are not
in investment strategy, and, as everyone who knows Jeffrey knows, his are not in fashion and
design. We frequently discuss world trends as each of us sees them.”

By the time Epstein met Wexner, the latter was a retail legend who had built a $3 billion
empire—one that now includes Victoria’s Secret, Express, and Bath & Body Works—from
$5,000 lent him by his aunt. “Wexner saw in Jeffrey the type of person who had the potential to
realize his [Jeffrey’s] dreams,” says someone who has worked closely with both men. “He gave
Jeffrey the ball, and Jeffrey hit it out of the park.”

Wexner, through a trust, bought the town house in which Epstein now lives for a reported $13.2
million in 1989. In 1993, Wexner married Abigail Koppel, a 31-year-old lawyer, and the
newlyweds relocated to Ohio; in 1996, Epstein moved into the town house. Public documents
suggest that the house is still owned by the trust that bought it, but Epstein has said that he now
owns the house.

Wexner trusts Epstein so completely that he has assigned him the power of fiduciary over all of
his private trusts and foundations, says a source close to Wexner. In 1992, Epstein even
persuaded Wexner to put him on the board of the Wexner Foundation in place of Wexner’s ailing
mother. Bella Wexner recovered and demanded to be reinstated. Epstein has said they settled by
splitting the foundation in two.

Epstein does not care that he comes between family members. In fact, he sees it as his job. He
tells people, “I am there to represent my client, and if my client needs protecting—sometimes
even from his own family—then it’s often better that people hate me, not the client.”

“You’ve probably heard I’m vicious in my representation of my clients,” he tells people proudly;
Leah Kleman describes his haggling over art prices as something like a scene out of the movie
Mad Max: Beyond Thunderdome. Even a former mentor says he’s seen “the dark side” of
Epstein, and a Bear Stearns source recalls a meeting in which Epstein chewed out a team making
a presentation for Wexner as being so brutal as to be “irresponsible.”

One reporter, in fact, received three threats from Epstein while preparing a piece. They were
delivered in a jocular tone, but the message was clear: There will be trouble for your family if I
don’t like the article.

On the other hand, Epstein is clearly very generous with friends. Joe Pagano, an Aspen-based
venture capitalist, who has known Epstein since before his Bear Stearns days, can’t say enough
nice things: “I have a boy who’s dyslexic, and Jeffrey’s gotten close to him over the years....
Jeffrey got him into music. He bought him his first piano. And then as he got to school he had
difficulty ... in studying ... so Jeffrey got him interested in taking flying lessons.”

Rosa Monckton recalls Epstein telling her that her daughter, Domenica, who suffers from Down

syndrome, needed the sun, and that Rosa should feel free to bring her to his house in Palm Beach
anytime.

HOUSE_OVERSIGHT_017776
"
IMAGES-007-HOUSE_OVERSIGHT_024104.txt,"Sprout Capital VIL, L.P. (Healthcare Technology Portfolio)

$ amounts in millions, as of March 31, 2014
Please refer to Endnotes 1,],K,L,M and N in this Appendix.

Gross
Multiple Gross
Vintage Total Realized Unrealize Total (Realized Multiple

Company Year Cost Value d Value Value Portion) (Total) Gross IRR
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 wD - 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 - 94 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 DPD: 2.72 25.4%
NxStage Medical, Inc. Healthcare Devices 2003 B8 18.9 - 18.9 5.80 5.80 20.9%
Orquest, Inc. Healthcare Devices 1995 5.5 78 - 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 - 7.3 148 148 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 27 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 VIL, L.P. (HCT) Investments $ 101.2 $ 260.0 $ - $ 260.0 2.57, 2.57 18.6%

Sprout Growth IL L.P. (Healthcare Technology Portfolio)

$ amounts in millions, as of March 31, 2014
Please refer to Endnotes 1,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 $ : $ $ $ 20.1%
AviaHealth, Inc. (fka GoToMyDoc) Convergence 2000 $ 13 $ 0.0 $ - $ 0.0 0.02 0.02 -92.8%
Cephalon, Inc. Therapeutics 1999 $ 41 $ 20.5 $ - $ 20.5 5.01 5.01 293.2%
Connetics Corp. (fka Connective) Therapeutics 1997 $ 3.2 §$ 65 §$ - $ 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 $ 161 §$ 70.9 §$ - $ 70.9 4.42 4.42 43.8%
93 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024104
"
IMAGES-012-HOUSE_OVERSIGHT_033010.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

HOUSE_OVERSIGHT_033010
"
IMAGES-009-HOUSE_OVERSIGHT_026479.txt,"sought to bolster Mrs. Clinton’s electoral chances and, if the unthinkable happened, obtain an

insurance policy to cripple the Trump administration with accusations of illegitimacy.

What does this have to do with Mr. Mueller, who was appointed in May 2017 after President Trump
fired Mr. Comey? The inspector general concludes that the pervasive bias “cast a cloud over the FBI
investigations to which these employees were assigned,” including Crossfire. And if Crossfire was
politically motivated, then its culmination, the appointment of a special counsel, inherited the taint. All
special-counsel activities—investigations, plea deals, subpoenas, reports, indictments and
convictions—are fruit of a poisonous tree, byproducts of a violation of due process. That Mr. Mueller

and his staff had nothing to do with Crossfire’s origin offers no cure.

When the government deprives a person of life, liberty or property, it is required to use fundamentally
fair processes. The Supreme Court has made clear that when governmental action “shocks the
conscience,” it violates due process. Such conduct includes investigative or prosecutorial efforts that

appear, under the totality of the circumstances, to be motivated by corruption, bias or entrapment.

In U.S. v. Russell (1973), the justices observed: “We may someday be presented with a situation in
which the conduct of law enforcement agents is so outrageous that due process principles would
absolutely bar the government from invoking judicial processes to obtain a conviction.” It didn’t take
long. In Blackledge v. Perry (1974), the court concluded that due process was offended by a
prosecutor’s “realistic likelihood of ‘vindictiveness’ ” that tainted the “very initiation of proceedings.”
In Young v. U.S. ex rel. Vuitton (1987), the justices held that because prosecutors have “power to
employ the full machinery of the state in scrutinizing any given individual . .. we must have assurance
that those who would wield this power will be guided solely by their sense of public responsibility for
the attainment of justice.” Prosecutors must be “disinterested” and make “dispassionate assessments,”
free from any personal bias.

In Williams v. Pennsylvania (2016), the court held that a state judge’s potential bias violated due
process because he had played a role, a quarter-century earlier, in prosecuting the death-row inmate
whose habeas corpus petition he was hearing. The passage of time and involvement of others do not
vitiate the taint but heighten “the need for objective rules preventing the operation of bias that might
otherwise be obscured,” the justices wrote. A single biased individual “might still have an influence
that, while not so visible . . . is nevertheless significant.”

In addition to the numerous anti-Trump messages uncovered by the inspector general, there is a strong
circumstantial case—including personnel, timing, methods and the absence of evidence—that

Crossfire was initiated for political, not national-security, purposes.

HOUSE_OVERSIGHT_026479
"
IMAGES-003-HOUSE_OVERSIGHT_015367.txt,"When everything was quiet, we went outside and stood at the edge
of his unused swimming pool. Dead leaves floated in the water. Lenny
cupped his hands to his mouth. “All right, you dogs,” he called out.

“Bark for the rich man!” --thereby setting off a chain reaction of barking
dogs, a canine chorus echoing through Hollywood Hills.

We ordered some pizza, and he played some old tapes, ranging
from a faith healer to patriotic World War II songs. “Good-bye, Mama, I'm
off to Yokohama, the Land of Yama-Yama...”

Back at the Café Au Go Go arrest in New York, Lenny had told a
fantasy tale about Eleanor Roosevelt, quoting her, “I've got the nicest tits
that have ever been in this White House...” The top of the police complaint
was “Eleanor Roosevelt and her display of tits.” At the trial, Lenny acted as
his own attorney. He had obtained the legislative history of an Albany
statute, and he discovered that back in 1931 there was an amendment
proposed, which excluded from arrest in an indecent performance:
Stagehands, spectators, musicians, and--here was the fulcrum of his
defense--actors. The law had been misapplied to him. Despite opposition
by the New York Society for the Suppression of Vice, the amendment was

finally signed into law by then-Governor Roosevelt, but to no avail.

HOUSE_OVERSIGHT_015367
"
IMAGES-003-HOUSE_OVERSIGHT_015401.txt,"Elaine You' re in denial again—but you have to give me a couple of
pills. | would just /ove to put a Viagra into Jerry and Kramer’ s coffee.

George: Oh, really? | thought you had scruples, Elaine. Dosing
somebody is unethical, especially friends.

Elaine: Oh, didn’ t | tell you? | had my scruples removed with laser
surgery.

George: Seriously, Elaine, what about all the s/de effects of Viagra?

Flaine: Stop worrying, George. Hurry, let me just have two. Jerry and
Kramer will be here any minute.

[Cut to the Stand-up Comedy Award ceremonies. Jerry, Elaine
George and Kramer have been sitting at a table, drinking coffee. Suddenly
the table rises slightly.]

Jerry: Kramer, stop that, what are you doing?

George: Maybe he’ s holding a one-man séance.

Kramer: | can’ t get it down! Jerry, | can’ t get it down!

Elaine: Gosh, Kramer, you must have been thinking about sex, huh?

Kramer: No, | was thinking about my business plan. That’ s the only
thing that really arouses me. When I’ m with a babe, | just think about my

latest scheme and | get aroused. But | always let the babe take the credit.

HOUSE_OVERSIGHT_015401
"
IMAGES-004-HOUSE_OVERSIGHT_018323.txt,"merciless clawing action we saw at the start of this chapter, which explains the
unique power (and value) of the essential firms of our age. Once that’s done,
however, once the mesh of distribution and connection is in place and growing, then
emergence begins. The completely new appears. This is why the most successful
investors or leaders of our era have a near pathological desire to push and break old
systems. They do this because they have a faith, an instinct, that if they shove hard
enough to snap an equilibrium, then something else will emerge. They are right.
They have all the laws of physics and history behind them. In commerce, the
destruction of old business models breeds new ones. In terrorism, brutal violence is
more useful than bottled anger; it’s a tool to speed the viral emergence of chaos
(and, some hope, a new politics). What emerges from change? Fresh structures,
gates that connect us and bind us .If the Seventh Sense features a nearly wild desire
to smash old equilibriums it is because of the total confidence that something else
will emerge.

Later in life, turning to a philosophical view, Paul Baran said that his webs,
distributing themselves around the world with such smooth and relentless energy,
were reflecting a kind of inevitable progress, a propensity of linked things to keep
linking. Even if he did not see and name our world exactly, he likely could have
predicted it. “Every object in the universe,” he once wrote, “is connected (by
gravity/radiation vectors) to every other object.” We know now just how much
truth is buried in Baran’s almost philosophical words. Objects and people and places
now feed data constantly into the network and to each other. This presses them to
evolve, to change, to connect again. It is simply a matter of time before those
connections bubble up into our real lives to change our economy, our security and
our leaders. That kludgey, parenthetically weird phrase of Baran’s - wired together
“(by gravity/radiation vectors)” - tells us a lot. The spread of links is like gravity
now. It is like radiation. Irresistible. All-penetrating and revealing the deep human
truth in Baran’s Holocaust-bred instincts: To survive and to connect are really the
same thing.

91

HOUSE_OVERSIGHT_018323
"
IMAGES-004-HOUSE_OVERSIGHT_017010.txt,"Ill.4A. Estimation of the number of 1-grams defined in leading dictionaries of the English

FE TAT@ [0 = (0 [- 15
IILL4B,, Estimation Of L@xXiCON SIZ6 scicssees cnmeneanes earners eens Hee ere HR 16
tO B[eii(o)al-|a'a Ole)-1k-\¢|- 17
Ill.4D. Analysis New and Obsolete words in the American Heritage Dictionary..............0cee 17
II.5. The Evolution of Gramimad ....... cece tere ee einee ee eniee eee ee ee nines sennieeeeenieeeesenineeessnieeeeennaes 17
III.5A. Ensemble of verbs Studied 2.2... cccceccere ee eenreeeennee ee eiteeeeeeiieeesesiieeeeeeiieeeeseiineeesenieeeeeniaes 17
IND. BSB. Verb frequencies ........cccccccccccccccccececeeeeeseeeeeeeseeeeeeeeeeeeeeeeeseeaeeseeeeeseseseeeneneseneseseseseuenetesenenenenes 18
INI.5C. Rates of reQgulariZation oo... ..ccccccccccccccccccecececeseeeeeseeeseseseseeeseeeeeseseseseeesesenesesenesesesssenssesenenenenes 18
II].5D. Classification Of Verb ........c cect tre erent eee rnneee ernie ee eetiieeeeenineeeessiieeeessiieeeessnineeeeniats 18
INN.6. Collective MOMOry........ccccccccccccccccececeseseceeeeeseneseseeeseneseseseseseneseseneseneseseneseseueseneseseuenessueseuensnees 18
Ile? THE POrsuitot Pani varices asmcmanees samen aa: eerie aR ae mE 19
IND. 7A) Complete Procedure .......ccccccccccccccccecececeseeeeeeeeeeeeeseeeeeeeeeeeeeeeseeenesesesesenenesesesenesesenenstesenenenees 19
IN.7B. Cohorts of f€M6 oo... cer er nr rie te ieee rete ee neee esters eennieeeesenieeeeennaes 25
INN.8. History Of TECHnology ........ccccccccccccccccececececeeeeeeeeeeeseneeeeeseeeseseseeeseseseseseeeneneseneneseseseuenenesensnenenes 26
TRS @i~lalc\e)i-\0]| 0 26
IIl.9A. Comparing the influence of censorship and propaganda on various groups. ..............cc0 26
IIl.9B. De Novo Identification of Censored and Suppressed Individuals «0.00... ccccccccceceseseeeeeees 28
II1.9C. Validation by an expert ANNOATOL...... ccc cccececececeseeeseeeeeseceseseeeseeeeeseeeseseeeneeseesenenenenes 28
Ce sciclic 29

HOUSE_OVERSIGHT_017010
"
IMAGES-006-HOUSE_OVERSIGHT_021353.txt,"fire.” For the present God restrained
human wickedness “by his mighty
power, as he does the raging waves of
the troubled sea,” but, if God should
withdraw that restraining power,
humanity’s willful self-regard would
overturn nature. The most dangerous
fire in creation was not, therefore, the
fire of hell but rather the hellfire bursting
forth from an unrestrained human will:
“The corruption of the heart of man is a
thing that is immoderate and boundless
in its fury; and while wicked men live
here, it is like fire pent up by God’s
restraints,” but, should God ever relax
his governance, humanity’s boundless
fury “would set on fire the course of
nature.”

The turmoil stirred by human
willfulness, like a violent storm at sea,
threatened to capsize the ark of the
universe, and the earth responded to this
threat in a terrifying version of the
pathetic fallacy, in which not empathy
but enmity arose between humans and
their natural environment.
Consequently, except for “the sovereign
pleasure of God, the earth would not
bear you one moment,” and Edwards
warned the Enfield congregation that
“the creation groans with you” and
resented its subservience to human
usurpation: “the sun don’t willingly
shine upon you to give you light to serve
sin and Satan; the earth don’t willingly
yield her increase to satisfy your lusts;
nor is it willingly a stage for your
wickedness to be acted upon; the air
don’t willingly serve you for breath to
maintain the flame of life in your vitals,
while you spend your life in the service
of God’s enemies. God’s creatures are
good, and were made for men to serve
God with, and do not willingly subserve
to any other purpose, and groan when
they are abused to purposes so directly

107

Page

contrary to their nature and end.” A
rebellious humanity antagonized the rest
of creation, “and the world would spew
you out, were it not for the sovereign
hand of him who hath subjected it in
hope.”

The just order of the cosmos
would rightly destroy humanity for its
willful rebellion against the order of the
whole, and the fact that this had not
already happened was the expression of
something like the self-restraining mercy
of a monarch who does not order the
execution of a traitor who has offended
the royal honor: “The bow of God’s
wrath is bent, and the arrow made ready
on the string, and Justice bends the
arrow at your heart, and strains the bow,
and it is nothing but the mere pleasure of
God, and that of an angry God, without
any promise or obligation at all, that
keeps the arrow one moment from being
made drunk with your blood.”

The Great Awakening was
coterminous and interactive with the
eighteenth century development of the
modern physical sciences, especially
building on the work of Isaac Newton
(1642-1727). Edwards’s assumptions
about the harmonious order of creation
combined the science of his day with the
aristocratic social order of eighteenth-
century society. In warning the town of
Enfield that it had transgressed the
cosmic order, Williams was also
asserting that it had violated the societal
aspect of that order; as minister, he
called the town to task for both
violations.

Conclusion

Edwards imagined the
Newtonian universe as an aristocratic
social hierarchy held in harmony by
sovereign law, at once moral and natural.

HOUSE_OVERSIGHT_021353
"
IMAGES-009-HOUSE_OVERSIGHT_028332.txt,"line of succession. (Solicitor General Noel Francisco is next after Rosenstein.)
However, ita€™s possible that Trump could try and use a law called the Vacancies Act to
slot in someone from elsewhere in the government (any appointee already confirmed by
the Senate would do)."",""textStyle""™:"" anf-cts-1"",""type"":""text""}, {""identifier""™:"" anf-
heading3-4"", ""layout"": ""headinglLayout"", ""role"":""heading3"",""text"":""A New York Times report
amped up discussions of Rosensteind€™s

ouster"", ""textStyle"":""headinglTextStyle"", ""type"":""text""}, {""identifier"":"" anf-photo-
4"",""imageIdentifier"":""a6aca5684809e2330274Jeel180cc681b"", ""layout"": ""photoLayout"", ""role"":""
photo"", ""type"": ""scalable image""}, {""identifier"":"" anf-caption-—

8"", ""Layout"": ""captionLayout"", ""role"":""caption"", ""text"": ""Mario

Tama/Getty"", ""textStyle"":""captionTextStyle"", ""type"": ""text""}, {""additions"": [{""URL"":""https:/
/www.wsj.com/articles/its-fantastic-trump-warms-to-rosenstein

1533720601"", ""range"":{""length"":26,""start"":67},""type"":""link""}],""identifier"":"" anf-body-
10"",""layout""™: ""bodyLayout"", ""role"": ""body"", ""text"":""For a time, it appeared that Rosenstein
had weathered the storm. A Wall Street Journal report from early August even claimed
that his and Trumpé€™s relationship was improving."",""textStyle"":"" anf-cts-

i"", ""type"": ""text""}, {""identifier"":"" anf-body-

35"",""layout"":""bodyLayout"", ""role"":""body"", ""text"":""Later that month, however, Paul
Manafort was convicted of financial crimes charged by Mueller, and Michael Cohen
pleaded guilty to tax, bank, and campaign finance violations referred by Mueller to
SDNY. Then, a week and a half ago, Manafort struck a plea deal with Mueller and agreed
to cooperate. Cohen, too, has reportedly talked with Muellerde€™s team for hours in

W

recent weeks."",""textStyle"":"" anf-cts-1"",""type""™:""text""}, {""identifier"":"" anf-
medium_rectangle advertisement

5"",""layout"":"" defaultComponentLayout"", ""role"":""medium_rectangle advertisement"", ""type""™:""m
edium rectangle advertisement""}, {""additions""™: [{""URL"":""https://apple.news/AdHolAGpBRiCpA
YZtit9nva"", ""range"": {""length"":49, ""start "":95},""type"":""link""}],""identifier"":"" anf-body-

11"",""layout"":""bodyLayout"", ""role"": ""body"", ""text"":""But what seems to have put
Rosensteind€™s future in the most immediate jeopardy was a report the New York

Timesa€™s Adam Goldman and Michael Schmidt published on Friday."",""textStyle"":"" anf-cts-
1"", ""type"": ""text""}, {""additions"": [{""URL"":""https://apple.news/A45wIUgRLQ3iB-
xXHJaxlHag"", ""range"": {""length"":14, ""start "":372},""type"":""link""}],""identifier"":"" anf-body-

12"",""layout"":""bodyLayout"", ""role"": ""body"", ""text"": ""The report describes purported conduct
by Rosenstein in mid-May 2017, during the chaotic days between Comeya€™s firing and
Rosensteind€™s decision to appoint Mueller. The Times claimed that, in meetings with
top FBI and Justice Department officials, Rosenstein made two eyebrow-raising
suggestions: first, that they try to secretly record the president, and second, using
the 25th Amendment to remove Trump from office. (Neither was carried
out.)"",""textStyle"":"" anf-cts-1"",""type"":""text""}, {""identifier"":"" anf-body-
36"",""layout"":""bodyLayout"", ""role"":""body"",""text"":""The Times report was based primarily on
anonymous source accounts and descriptions of contemporaneous memos written by then-
acting FBI director Andrew McCabe. But Rosenstein publicly disputed the report. And in
the hours after its publication, various outlets were told by an anonymous source in
the room for the 4€cerecordingd€ comments that Rosenstein was clearly being
sarcastic."",""textStyle"":"" anf-cts-

1"", ""type""™:""text""}, {""additions"": [{""URL"":""https://apple.news/A2eqDOJadTJexXuNdvwiSJdkw"", ""ra
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13"", ""layout"": ""bodyLayout"", ""role"": ""body"", ""text"":""Trump critics fearful of Rosensteinde™s
ouster soon latched onto the d€ehe was being sarcastica€ excuse. But the Timesd€™s
Michael Schmidt professed to be quite confident that wasndé€™t the case. He said in an

interview with Slateae€™s Isaac Chotiner:"",""textStyle"":"" anf-cts-
i"", ""type"":""text""}, {""components"": [{""components"": [{""identifier"":""  anf-quote-
i"",""lLayout""™:""quoteLayout"", ""role"": ""quote"", ""style"":""innerQuoteContainerStyle"", ""text"": ""If

this was a joke, we donde€™t think it would have been so difficult for us to have worked
to get to this information. If this was a joke, this would not have been memorialized,
documented, and discussed in the FBI in the way that it was. If this was a joke, Rod
Rosenstein probably wouldnad€™t have made it more than once. Also, if this was a joke,
the other thing is, this 25th Amendment stuff is in a memo as well. So this is
liked€""is this a broader conspiracy of jokes that was going

on?"", ""textStyle"":""quoteTextStyle"", ""type™:""text""}],""identifier"":"" anf-container-
3"",""layout"":"" defaultComponentLayout"", ""role""™:""container"", ""style"":""innerQuoteContainerst
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i"", ""layout"": ""pullquoteContainerLayout"", ""role"": ""container"", ""style"": ""quoteContainerstyle""
,""type™:""container""}, {""additions"": [{""URL"":""https://apple.news/AHyL7Ral 6SB-
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14"",""layout"":""bodyLayout"", ""role"": ""body"", ""text"":""Indeed, other accounts, such as from
the Washington Post, seem to confirm that McCabe thought Rosenstein was serious and has

W

HOUSE_OVERSIGHT_028332
"
IMAGES-009-HOUSE_OVERSIGHT_027001.txt,"Buy Tickets

In this live In Conversation event, Melinda will introduce us to the women she's met during
years of travel, humanitarian work and extensive research. She will share stories from her new
book The Moment of Lift! How Empowering Women Changes the World: stories that are
brutally honest, gut-wrenching, inspiring and triumphant. They show us how, time and time

again, empowered women rise up and bring their families and communities with them.

Melinda will also share her own personal journey to achieving equality in her marriage, finding
her voice and becoming an advocate for women and girls. She will explain how the women she
has met have called her to action. And at this critical moment, she will call us to action too —

urging us to drive progress in our homes, workplaces and communities.

This conversation will fill your heart with hope and the determination to empower yourself and

others. It will also ignite your sense of urgency, leaving you convinced that equality can’t wait.

WHAT THEY SAY

‘In her book, Melinda tells the stories of the inspiring people she’s met
through her work all over the world, digs into the data, and powerfully
ilustrates issues that need our attention — from child marriage to gender

inequity in the workplace.’ — President Barack Obama

‘Melinda Gates has spent many years working with women around the

world. This book is an urgent manifesto for an equal society where

women are valued and recognized in all spheres of life. Most of all, it is a call for unity, inclusion

and connection. We need this message more than ever.’ — Malala Yousafzai

‘The Moment of Lift is an urgent call to courage. It changed how | think about myself, my family,
my work, and what’s possible in the world. Melinda weaves together vulnerable, brave
storytelling and compelling data to make this one of those rare books that you carry in your
heart and mind long after the last page.’ — Brené Brown, Ph.D., author of New York Times #1

bestseller Dare to Lead
‘This book is a beautiful and concise mission statement on what we need to do to move society

forward- continue to empower women. At every level and in all places women are truly the

bedrock supporting their communities.’ — Trevor Noah

HOUSE_OVERSIGHT_027001
"
IMAGES-005-HOUSE_OVERSIGHT_019474.txt,"May 29, 2015

US DHS CIS

Vermont Service Center
30 Houghton Street

St. Albans, VT 05478

R: V’. RRR Immigration Application

Dear Sir or Madam:

I am writing this letter on behalf of Vs. i i and in

connection with her O-1 Visa Application.

My name is David Blaine and I am a magician. I have performed my
own brand of close up magic all over the world, and have also set and broken
several world records, including holding my breath for over 17 minutes,
spending 35 hours atop a 100-foot pole, surviving only on water for 44 days, and
enduring a week buried in a coffin. | have traveled internationally, performing
magic privately for President Bill Clinton and Secretary of State Hillary
Clinton, President George W. Bush, Secretary of Defense Donald Rumsfeld at
the Pentagon, Henry Kissinger, Bill Gates and Mayor Michael Bloomberg.

I met Ms a few years ago through mutual friends
and I was highly impressed with her. Aside from being an amazing fashion
model, she has a strong passion for children and education. I realized what a
talented public relations and fundraising expert she is when I saw her
organizing numerous high end charitable events and organizations, as well as
finding A-list funders for her causes.

A fundraiser and public relations expert of extraordinary ability can
find, target, and approach the correct people for their cause, and then recruit
them with the correct individual enticements. This is a very difficult thing to
pull off, but Svetlana was able to do so, not only with efficiency and success,
but with great ease and grace, and she seems determined to keep going. The
success stories she drew for the children of the US Virgin Islands, the Ivory
Coast, and many others are incredible. She truly makes a difference in the
lives of the world’s children.

That is a passion that we both share. Every year, I travel all across the
country and the world to perform magic for children’s hospital wards, burn
units, and juvenile prisons and detention centers. I also truly enjoyed
performing magic for Paul Newman and groups of children at the Hole in the
Wall Gang Camp, among other charitable causes.

HOUSE_OVERSIGHT_019474
"
IMAGES-002-HOUSE_OVERSIGHT_013439.txt,"Rodriguez, who said in sworn testimony that he was terrified of Miss Maxwell, also said he took the book as an “insurance
policy” to prevent Epstein making him “disappear’.

He was sentenced to 18 months in prison — the same punishment Epstein received for his sex offences — in June last year.
His wife, Patricia Dunn, told The Daily Telegraph that he was “sorry” for his error.

Dave Lee Brannon, an Assistant Public Defender who represented Rodriguez, said: “If this book had been produced when
requested, Mr Epstein’s sentence may have been significantly different.”

Details of the journal emerged in a lawsuit brought in Florida by Epstein against Brad Edwards, a lawyer representing
several alleged victims.

Epstein alleges Edwards was linked to a ""Ponzi scheme"" run by a colleague, which lured investors by falsely claiming
Epstein had agreed to settle sex-offence lawsuits for hundreds of millions of dollars.

Edwards rejects the allegation, which has already been dismissed by the Florida Bar.

© Copyright of Telegraph Media Group Limited 2011

HOUSE_OVERSIGHT_013439
"
IMAGES-002-HOUSE_OVERSIGHT_014356.txt,"likely. Mr. Gray also thinks that concerns over the commercial real estate market
may be overdone.

e | 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%
20%
20%
15%
10%

5%

0%

Rising Improving Comfort on the A market pullback for A more simplified
markets/returns and = FRE/margins direction of the real better corporate/tax
visibilityon DE and __ following strong estate market &  deployment/returns structure

distributions fundraising hedge funds

Source: BofA Merrill Lynch Global Research

e 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 ‘O7 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.

BankofAmerica <2”

42 2016 Future of Financials Conference | 17 November 2016 Merrill Lynch

HOUSE_OVERSIGHT_014356
"
IMAGES-003-HOUSE_OVERSIGHT_016108.txt,"418 Are the Androids Dreaming Yet?

U

Ultimate Question of Life the Universe and
Everything 238

ultraviolet light 100
Uncanny Valley 75
uncertainty 318
understanding xiii, 53

meaning of 56

of computers 71
Unicode 129, 203
United States Army’s Ballistic Research

Laboratory 223

Universal Turing Machine 246
universe

anthropic principle 322

complexity and chaos 173

determined 207

deterministic 175

end of 140
University of Alberta 119
University of Arizona 119, 122, 282
University of Calgary 251
University of California 280
University of Maryland 33
University of Massachusetts 280
University of Montreal 117
University of Moscow 258
University of Otago 33
University of Santa Cruz 7
University of Vienna 202
urban legend 11
US Supreme Court 28

Vv

van Gogh, Vincent 142
variable initialization 250
vertical abstraction 267
Visco, Frank L 396
vision 109

vision intelligence 29
visual agnosia 12
Volkswagen Polo 312
von Neumann, John 223
Vorderman, Carol 30

WwW

Wallas, Graham 1, 301
Wang 308

War and Peace 129
Watson computer 8, 207

Watson Research Laboratory 5
wave interference 320
wavelength 102
weather
predicting 168, 172
Wechsler Test 27
Weizenbaum, Joseph 25
West, Mae 78
Whitehead, Alfred North 195
Who Wants to be a Millionaire? 347
Wikipedia 8, 129, 231
Wilder, Billy 128
Wiles, Andrew xi, 75, 242, 248, 251, 254,
259, 261, 351
Wiles Paradox 247
William of Occam 68
Winchester Drives 306
Wise, Michael 335
Wolfram, Stephen 173, 246, 352
Woods, Tiger 116
WordPress 237
World War I (First World War) 211, 337
World War II (Second World War) 17,
218, 337
code breakers 211
Wozniak, Steve 10, 68
Wright, Stephen 274
WYSIWYG 237

X
XPRIZE 238, 367
X-ray 69, 100

damage from 104
slicing technique 102
wavelength 102

Y
Yellow Pages 308

Z

Zar, Jerrold H 139

Zeitgeist 86

Zeno machine 280

Zeno’s paradox 154
Zermelo-Fraenkel set theory 156
zigzag method 182

HOUSE_OVERSIGHT_016108
"
IMAGES-002-HOUSE_OVERSIGHT_012727.txt,"In the mountainous north of the country, just over an hour from Porto, Now Live
the recently opened Vidago Palace has, in one fell swoop, raised the bar
for luxury getaways in Portugal. As far removed from the sun and sand
of the touristy Algarve as you can get, this is a destination for the
discerning traveler and the lover of fine things, whether they be cigars,
hand-painted silk wallpaper, the country's best spa or a championship
golf course.

Click here to visit sale

The Budapest Bauhaus

Mamaison Hotel Budapest

HOUSE_OVERSIGHT_012727
"
IMAGES-001-HOUSE_OVERSIGHT_011096.txt,"Payment Mediation

Banks effect payments from depositors’ accounts. An omnibus fund can do the same.
Payments out are directed “redemptions” in the language of brokerage accounts, or
withdrawals in the language of bank accounts. Payments in are “subscriptions” to

brokers and their clients, or deposits to bankers.

All these payments can be electronic. A payer, typically a customer, might swipe a
card or click a screen. A payee, typically a vendor, typically must verify first that the
account is authentic and covers the payment offered. An omnibus fund could be well

suited to give this quick transparency.

First, it is essentially an index fund. It is composed of a published ratio of index ETFs
and index mutual funds and index-equitized cash. Individual accounts are then
hedged or exposed to index swaps or future overlays administered by the omnibus
fund itself. The fund can track all these indexes online, and knows from tick to tick
what each account is worth. This holds true even for volatile accounts where risk-
tolerant clients have opted for long legs in swaps and futures. So long as
management effects all payments in an out, and constructs each account of index
exposures itself, and tracks those exposures and payments in real time, it knows

account values exactly.

Risk-tolerant clients will expect daily ups and downs in account size. That means
that they will have to carry larger accounts in order to be sure of covering payments
in the downswings. That would be a problem if accounts yielded zero return, as
checkable bank deposits do. The gist of my answer to Milton Friedman was that no
amount of money is too much if it yields as much return as other assets of equal risk.
Accounts are hedged or leveraged to do so. Omnibus fund accounts burn no holes in
pockets. We do not own one to spend, like a checking account, and treat it as a drag
on earnings until spent. We own it as a fully competitive investment, and spend it

reluctantly when bills are presented.

Chapter 8 Banks, Money and Macroeconomics 2/8/16 7

HOUSE_OVERSIGHT_011096
"
IMAGES-003-HOUSE_OVERSIGHT_015429.txt,"That wasn’ t his only embarrassment: “At the Signal Corps, |
accidentally flushed my top secret badge down the toilet. It took a lot of
official paperwork and the notation ‘irretrievably lost’ to finally get a
new badge. Also, in 1954, the McCarthy paranoia was paramount. |, and
fellow civilians--and military personnel, | assume--had to empty our
lunchboxes and briefcases for inspection every time we entered the
building.”

Five months after he had begun as a civilian scientist, George was
drafted. In the army, he was assigned to the 82"" Airborne Division at Fort
Bragg in North Carolina. He was a “leg,” though. Instead of jumping out
of an airplane, his job was to maintain all radios, phones and electrical
equipment. He also started the U.S. Helicopter Square Dance Team to
demonstrate the mobility of helicopters. When assigned KP (Kitchen
Police), rather than peel potatoes, he scheduled helicopter square dance
practice.

Eight months after Sputnik, his team began working on the design
of the world’ s_ first communication _ satellite, SCORE (Signal
Communications Orbit Relay Equipment). “There were no reference

books, precedents, or Google for information. We were the pioneers. It’ s

HOUSE_OVERSIGHT_015429
"
IMAGES-004-HOUSE_OVERSIGHT_017038.txt,"Supplementary References

“Quantitative analysis of culture using millions of digitized books’,
Michel et al.

$1.

82.

$3.

34.

S5.

S6.

S/7.

S8.

SQ.

L. Taycher, “Books of the world stand up and_ be_ counted’,

2010. http://booksearch.blogspot.com/2010/08/books-of-world-stand-up-and-be-
counted.html

Ray Smith, Daria Antonova, and Dar-Shyang Lee, Adapting the Tesseract
open source OCR engine for multilingual OCR, Proceedings of the
International Conference on Multilingual OCR, Barcelona Spain, 2009,

http://doi.acm.org/10.1145/1577802.1577804

Popat, Ashok. ""A panlingual anomalous text detector."" DocEng '09: Proceedings
of the 9th ACM symposium on Document Engineering, 2009, pp. 201-204.
Brants, Thorsten and Franz, Alex. ""Web 1T 5-gram Version 1."" LDC2006T13
http://www.ldc.upenn.edu/Catalog/CatalogEntry.jsp?catalogld=_DC2006113

Dean, Jeffrey and Ghemawat, Sanjay. ""MapReduce: Simplified Data Processing
on Large Clusters."" OSDI '04 p137--150

Lyman, Peter and Hal R. Varian, “How Much Information"", 2003.

http://www2.sims.berkeley.edu/research/projects/how-much-info-
2003/print.htm#books

http://en.wikipedia.org/wiki/List_of_treaties.

http://en.wikipedia.org/wiki/Geographical_renaming]

Christian Bizer, Jens Lehmann, Georgi Kobilarov, Soren Auer, Christian Becker,
Richard Cyganiak, Sebastian Hellmann.” DBpedia — A Crystallization Point for
the Web of Data.” Journal of Web Semantics: Science, Services and Agents on
the World Wide Web, 2009, pp. 154-165.

$10. http://en.wikipedia.org/wiki/Timeline of historic inventions

HOUSE_OVERSIGHT_017038
"
IMAGES-007-HOUSE_OVERSIGHT_023125.txt,"Saturday, February 16, 2019

VIRGIN ISLANDS

The Virgin Islands Daily News 7

Top aide of Epstein prosecutor in sex case defends former boss

By JULIE K. BROWN
Miami Herald

MIAMI — A former top prosecutor
involved in the Jeffrey Epstein sex case
is defending his old boss, Alexander
Acosta, whose decision to craft a secret
plea deal with the wealthy New York
hedge fund manager has come under
federal scrutiny.

Epstein, who also has homes in Palm
Beach, Fla., and New York, lives on
Little St. James Island off St. Thomas.

In his first public comments on the
10-year-old case, Jeffrey H. Sloman

who at the time was second in com-
mand under Acosta at the U.S. Attor-
ney’s Office in Miami — said prosecu-
tors resolved the case based on the facts
and evidence, and what he called “legal
impediments,” including the belief that
many of Epstein’s teenage victims were
too “terrified” to cooperate in the case.

“Given the obstacles we faced in
fashioning a robust federal prosecution,
we decided to negotiate a resolution,”
said Sloman, now in private practice.
“We did not reach this decision lightly
and it came only after significant and
often rancorous internal debate.”

In a lengthy
opinion piece sub-
mitted to the Mi-
ami Herald Edito-
rial Board, Sloman
alleges that scruti-
ny of Acosta’s role
in the controversial
case is being fu-
eled by politically
motivated — critics
who failed to raise
significant issues
with it when Acos-
ta was nominated
and confirmed as
the U.S. secretary
of labor in 2017.

Sloman’ com-
ments come two

weeks after the
Alexander Justice — Depart-
Acosta ment announced

it had opened an
investigation into whether there was
prosecutorial misconduct in the case in-
volving Epstein, who ran a sex pyramid
scheme from his Palm Beach estate
that targeted scores of underage girls
from 2001 to 2006.

Jeffrey H. Sloman —
who at the time was
second in command
under Alexander Acosta
at the U.S. Attorney's
Office in Miami — said
prosecutors resolved
the case based on the
facts and evidence, and
what he called “legal
impediments,” including
the belief that many of
Jeffrey Epstein’s
teenage victims were
too “terrified” to
cooperate in the case.

About 30 members of Congress de-
manded the probe following a Miami
Herald series of stories, “Perversion of
Justice,” that detailed how federal pros-

ecutors, led by Acosta, stitched together
an unusual immunity deal that allowed
Epstein to escape what could have been
a life sentence in federal prison.

Instead, Epstein whose friends
included President Donald Trump, Bill
Clinton and other politically connected
people — was allowed to quietly plead
guilty to prostitution charges in state
court. He served 13 months in the
county jail, where he was allowed lib-
eral work release privileges rarely given
to sex offenders in Florida and barred
by the Palm Beach Sheriff's Depart-
ment’s own rules.

He was released in 2009, but his vic-
tims — who were 13 to 16 years old at
the time — are still fighting more than
a decade later to have his non-prosecu-
tion agreement overtumed.

In his op-ed, Sloman called Acosta
“an outstanding public servant ... at
risk of becoming collateral damage in
Washington's latest polarized confla-
gration,” adding, “I won't let it happen
without first being heard.”

“As additional details about Epstein’s
crimes have emerged, it is clear to me
that we should have pushed for much
harsher terms,” Sloman wrote. “That

said, some have mistakenly suggested
that our office kowtowed to Epstein'’s
high-priced defense lawyers or, worse,
that his lawyers corrupted or intimidat-
ed us into submission ... nothing could
be further from the truth.”

Sloman did not directly address the
chief complaint brought by Epstein’s
victims, who are now in their late 20s
and carly 30s. Those who spoke to the
Herald said they felt betrayed by federal
prosecutors, who sealed the non-pros-
ecution agreement from public view
so that they wouldn't find out about it
before he was sentenced. It would be
almost a year before they were success-
ful in having it unsealed. By then, it was
too late to try to derail it.

They allege, ina federal lawsuit filed
against the govemment, that prosecu-
tors deliberately kept the deal secret

in violation of federal law — to pre-
vent them from appearing at Epstein'’s
sentencing to possibly undo the deal.
Nor did Sloman address why prosecu-
tors also gave immunity to a number
of Epstein’s co-conspirators, who have
never been identified.

See EPSTEIN, page 8

HOUSE_OVERSIGHT_023125
"
IMAGES-008-HOUSE_OVERSIGHT_025277.txt,"Foreign exchange overview

Foreign exchange - Key points

¢ The ECB's announcement of Outright Monetary Transactions (OMT) has reduced tail risk in the Eurozone
considerably, while the Federal Reserve announcing a new round of potentially unlimited asset purchases
at their September 13 meeting has weakened the USD. Given that the ECB action was EUR-positive and
the Fed action USD-negative, EURUSD has jumped considerably, but since then moved little.

¢ We believe the risks to the pair are now more balanced, and see a range between EURUSD 1.28-1.35 for
the months ahead. A Spanish ESM/OMT request would be EUR positive. While the US elections and US
fiscal cliff could lead to short term USD strength, we see the USD weaker over the next 6 months.

¢ The CAD remains supported by better growth dynamics in Canada and QE in the US. However, we believe
the recent appreciation against the USD could see a near-term setback and we close the overweight.

¢ We keep the overweight position in the GBP despite the current asset purchasing program by the Bank of
England (BoE), which we believe will be terminated in November. The GBP remains well supported given
the recent rebound in economic data, the expectation of a stronger economy in 2013 and because
investors are seeking liquid alternatives to the EUR, the USD and the JPY.

¢ EURCHF has traded higher in our 1.20-1.23 range recently and we continue to see the pair in that range.
The SNB protects the downside, while a strong upside move is also limited by a potential flare-up in the
euro crisis and reserve unwinding of the SNB at some point. Given this balance, we have decided to close
the underweight in the CHF.

¢ Sweden and Norway stand out for their lower debt-to-GDP ratios and current account surpluses. Both the
SEK and NOK have appreciated on diversification and safe-haven inflows, but economic data in both
countries has become weaker recently, which led to a setback in the SEK. A rate cut in Sweden cannot be
ruled out, but seems to be priced in already.

e Longer-term debt issues and weak competitiveness of major exporters are hurting the Japanese economy
and PMls have disappointed. We therefore think the Bank of Japan and Ministry of Finance will maintain
an expansive policy bias and continue trying to weaken the JPY. We are underweight JPY.

¢ For commodity currencies, the AUD and NZD continue to trade at the top of their well established
ranges. We got the expected rate cut in Australia and expect another cut by year end. Do not buy AUD
above AUDUSD 1.00. We have a preference for the NZD over the AUD.

¢ We maintain a positive medium-term view on emerging market (EM) currencies. This is supported by
higher short-term rates which provide an attractive yield pick-up relative to developed market currencies
as monetary policies are expected to remain loose for longer. We think investors should increase EM FX
exposure across regions. Lower tail risks in Europe should be especially supportive of the higher-yielding
currencies in EMEA and Latin America.

¢ Our most preferred emerging market currencies are currently the MXN, ZAR, PLN, KRW and SGD.We
expect the CNY to appreciate 2% against the USD, moving towards 6.20 over the coming 12 months.
Internationally marketable instruments (such as CNH, the offshore version of the Chinese currency traded
in Hong Kong) have similar appreciation potential.

Preferences (6 months)

underweight
USD
EUR
GBP
JPY
CHF
SEK
NOK
CAD
NZD

AUD

neutral overweight

Bnew old

Source: UBS CIO WM Glebal Investment Office

ba UBS For further information please contact ClO asset class specialist Thomas Flury, thomas.flury@ubs.com 30
Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_025277
"
IMAGES-003-HOUSE_OVERSIGHT_014737.txt,"Best Directional Trades

David Woo Shyam S.Rajan
MLPF&S MLPF&S
david.woo@baml.com shyam.rajan@baml.com
Jane Brauer lan Gordon

MLPF&S MLPF&S
jane.brauer@baml.com ian.gordon@baml.com

Stay hungry, stay bearish (not foolish)
For the year ahead, we recommend being bearish 5y US rates, long USDJPY and
short a basket of LatAm long bonds (Mexico, Brazil and Colombia).

¢ But in the near term, we urge caution with the reflation trade. Short 10y US real
rates offers the best risk-reward after recent moves.

US rates back in the driver seat

After three years of being the sideshow, US rates are back. The US rate outlook in no
small part will drive the FX and EM outlook for 2017. Our strongest medium-term
conviction on a Republican sweep was higher US rates (Mind the Sweep, 31 Aug 16).
That conviction remains steadfast: US rates are headed higher to start 2017. But, this is
not the time to be foolish — 5y and 10y rates have seen a 5 standard deviation move
over the last week. So we recommend a near-term trade (bearish 10y real rates) that
has the least to lose if the reflation theme unwinds while capturing most of the upside
from a bearish move. Our medium-term directional view goes with the flow of recent
price action: short 5y rates, long USDJPY and short basket of LatAm long bonds. Here
we make the compelling case that recent moves have a lot further to go.

Bearish 5y yields for the medium term

Our bearish energy in US rates for 2017 will largely be focused on the 5y point of the
curve. Despite the recent move, we see three clear reasons why the market still has to
play catch-up from now, at least until inauguration day:

1. Comeback chart of 2017: market vs dots

We prefer short 5y rates over the widely held view of short 30y rates given we think
that fiscal stimulus will move the Fed before it shows up in fundamentals. We believe
the Fed’s current dot projections will move from being a ceiling to a floor on the market.
In this case, intermediate forwards like the 3y1 and 4y1ly have the most room to sell off,
leaving the 5y point most vulnerable, (Chart 13). Our fair value framework indicates that
if the market were to revert to the dots, 2y rates can move higher by 26bp, 3y rates by
45bp, 5y rates by 57bp and 10y rates by 48bp.

Chart 13: After three years of treating the dots as a ceiling, they will Chart 14: Additional deficit needs are likely to be financed by increasing
soon act as a floor for the market, in our view front-end auction sizes

af 2y 3y Sy Ty 10y 30y

25 e 0

2.0 e 4) 5

1.5 : ; 410

1.0 >

0.5 18

0.0 -20

Bees od ; Bee""l? HOG Ree ollt-'8 ; sali m Change in auction szies from the peak in 2010 ($bn)
— OS implied FF target © FOMC median

Source: BofA Merrill Lynch Global Research Source: BofA Merrill Lynch Global Research
Bankof America 2

Merrill Lynch Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 7

HOUSE_OVERSIGHT_014737
"
IMAGES-009-HOUSE_OVERSIGHT_027029.txt,"confidentiality Notice: This communication is confidential and may contain privileged information. If
you have received it in error, please notify the sender by reply e-mail and immediately delete it and any
attachments without copying or further transmitting the same.

HOUSE_OVERSIGHT_027029
"
IMAGES-002-HOUSE_OVERSIGHT_013411.txt,"http://nl.newsbank.com/nl-search/we/Archives?p_action=doc&p_doci...

Palm Beach Daily News: Archives

PalmBeachDailyNews.com

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Palm Beach Daily News (FL)

JUDGE RECEIVES EPSTEIN TAPE

RULING PENDING

MICHELE DARGAN, Daily News Staff Writer
Published: May 5, 2010
NEW YORK -- A Manhattan federal judge Tuesday took into custody a tape-recorded conversation
between veteran newspaper reporter George Rush and convicted sex offender Jeffrey Epstein.
But U.S. District Judge Lawrence M. McKenna reserved ruling on whether the recording will be released to
attorneys representing young women who were sexually abused by Epstein as minors. McKenna didn't
listen to the recording during the hearing. Fort Lauderdale attorney Brad Edwards and Utah attorney and
law professor Paul Cassell are fighting to obtain the 22-minute tape on behalf of Epstein victim Jane Doe.
She has filed one of a dozen pending civil cases in federal court in West Palm Beach against Epstein.
A status check is set for Thursday in those cases before U.S. District Judge Kenneth Marra.
Doe could have settled the lawsuit for $50,000 but is asking for $50 million in damages, Cassell said
Tuesday. ""Jane Doe was repeatedly sexually assaulted over a lengthy period of time by this wealthy and
powerful man,"" Cassell said.
Epstein, 57, is currently under house arrest in his Palm Beach home after serving 13 months of an 18-
month state sentence for soliciting a minor for prostitution and soliciting prostitution. Nearly two dozen
young women have filed lawsuits against the billionaire money manager -- some already settled -- all
alleging Epstein sexually abused them as minors at his El Brillo Way home.
Cites reporter's protected privilege
Rush, of the New York Daily News, was present in the courtroom, but did not have to testify Tuesday.
Neither did Fort Lauderdale private investigator Michael Fisten, also in the courtroom. Working on behalf
of Epstein victims, Fisten discovered the existence of the tape and had a conversation with Rush about its
contents.
Representing Rush and the newspaper, Washington attorney Laura Handman and New York Daily News
attorney Anne Carroll argued the tape should not be released under any circumstances, citing reporter's
protected privilege. Rush told Epstein the conversation was ""off the record"" and has never published any
portion of that conversation. But even if portions had been printed, the unpublished portions would still be
protected, Handman said.
Handman cited cases where interviews were conducted in the presence of other people and privilege was
not waived.
In addition, Handman argued that Rush should not have to testify in court.
The ability for reporter's privilege to be protected is crucial in culling sources and gathering information for
news stories, Handman said. Reporting is all about give and take between the reporter and the source;
that's what reporters have to do, Handman said.
""This is so critical to news gathering,"" Handman said. ""Mr. Rush could find himself testifying in [many]
cases just because he had the temerity to do some reporting on a very important story.”
There is nothing helpful to Doe's case on the tape and “Jane Doe is not referred to once in that tape,”
Handman said.
Cassell argued that the tape is ""critical in showing Epstein's lack of remorse.""
Cassell described Epstein as a pitiless sexual abuser to Jane Doe and at least 30 other minor girls. Even
though Jane Doe is not referred to by name on the tape, Epstein refers to his victims as “the girls"" and
makes disparaging remarks about them on the tape, Cassell said.
Tape played for others
Cassell said privilege does not apply because it was waived when Rush played the tape for three people
and verbally divulged its contents to two others, including Fisten and Edwards, who also represents two
other victims. But even if there is ""qualified privilege,"" Cassell says, it is outweighed by Doe's inability to
obtain the information anywhere else and the jury's need to hear Epstein's own words about his lack of
remorse.
Since Epstein has exercised his Fifth Amendment right during questioning by victims’ attorneys, the jury

Classifieds Real Estate

by

Shannon Donnelly 4. 3°”

ername=dkiesq&s_accountid=AC0111040620221012261&s_upgradeable=no

Page 1 of 2

HOUSE_OVERSIGHT_013411
"
TEXT-001-HOUSE_OVERSIGHT_026245.txt,"From: Diane Ziman 
on behalf of Diane Ziman 
Sent: 1/23/2018 9:59:38 PM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: Fwd: Keep the March Alive! 
Jeffrey --
Did you see my son's email on Sunday? 
I was so proud to see him speak at the Women's March this weekend, joining thousands of passionate 
Floridians who want real change in our state, and across the country. 
But we both know that change doesn't come easy. And there are a lot of folks in Tallahassee that want to 
keep things the same as usual. 
We can't afford the status quo so they can have their way. We need leadership that will bring the 
change that so many have been marching for over the past year. 
Can I count on you to help my son bring that change to Tallahassee? 
Click here to join his campaign today, and help him do the right thing for our neighbors  
across the state.  
#ThatsMyBoy 
- Diane 
Forwarded message 
I spent the day with thousands of fellow Floridians, celebrating the one year anniversary of the 
Women's March. 
I was inspired by the crowds, their voice, and their passion. 
HOUSE OVERSIGHT 026245 
Empowering women in the age of Trump is an essential part of moving this country forward. But 
that means moving forward on issues that have long been stalled -equal pay, better education, 
and a living wage. 
In 2018, we have the chance to move these issues forward, and I'm asking for your help in 
makins it ha en.  
aaa. . .. 1 
If the crowds we saw in St. Petersburg, Miami, and dozens of other cities across this country are 
any indication, we have the momentum! 
Now we need to bring it to Tallahassee. 
Sincerely, 
Philip 
Paid by Philip Levine, Democrat, for Governor 
Philip Levine for Governor 
960 Alton Road 
Miami Beach FL 33139 United States 
We're so thankful of your support, and we hope you will take the next step by signing up to volunteer with 
our campaign. If you would like to be removed from our email list, please click the following link and we 
will remove you promptly: unsubscribe  
HOUSE OVERSIGHT 026246 
HOUSE OVERSIGHT 026247 
"
TEXT-001-HOUSE_OVERSIGHT_029176.txt,"﻿CNN TODAY
US-China Tariffs, Trade War
Robert Lawrence Kuhn, August 2, 2018
Host: To talk about the potential impact [of
tariffs]…. Robert Lawrence Kuhn is a long-time
advisor to China’s leaders and the Chinese
government. He is also the author of How
China’s Leaders Think. You are the perfect
person to have on to get China’s perspective.
Thank you so much for joining us.
RLK: A Pleasure.
Host: So Trump is obviously hoping for some
kind of trade deal, but is this going to work?
Tariffs to get Chinese officials to the table?
RLK: Certainly from China’s point of view, they
were very happy with the status quo before this
occurred. They blame the U.S. for starting a
trade war. They think the U.S. will suffer and,
indeed in a trade war, everybody suffers. There
are some serious problems, though, that
American experts, American government
[policies], reflect. Very few people in the U.S.
actually support the tariffs themselves. There
will be higher prices for consumers. There will
be more people affected – [there are] more
industries that use steel than produce steel.
1
RLK: So there’s a significant impact [on the
US]. The US hope is that China will be
pressured to make changes in its policy. Now
the [tariff] policy is not just [targeting] the
trade deficit. The policies are, what are called,
China’s closed market, intellectual property
protection, industrial espionage, tech transfers
and JVs (to get the Chinese market) and
government support for tech. And for each of
these, China has responses. China says it was
doing what was appropriate under the WTO
because it was a developing country. Now that
it’s advanced, it’s opening markets.
China has a “negative list” telling people
[companies] what it cannot do, making it much
easier; China is also opening further in autos
and financial services. But they need to be
pushed more. Even economists in China
recognize that, that coming out of this, if we
have cool heads and smart brains, both sides
can be better off.
HOST: So are there other ways to do this? You
listed that Trump wants to close a trade deficit.
He’s hitting back at these closed markets. He
wants to prevent the stealing of intellectual
property. What is an effective way to do this
besides heaping these tariffs on China?
2
RLK: Well some people would say that tariffs
have at least got China’s attention. Even some
leading people tell me privately in China that in
that sense China needs to move faster in doing
things like opening markets, like intellectual
property protection. Now they are doing some
things. They have an intellectual property
court. I visited it in Shanghai a few months
ago. It’s working really well. Much more
progress needs to be done. So in that sense the
tariffs are a beacon that tells everybody we
need to deal because everybody is going to
suffer by tariffs. The question is how we deal
with it.
China needs to make some specific changes
regarding markets, IPR, some of these other
things — they should be done subtlety and not
publicly. That’s the way to get things done.
HOST: I see. You know, President Trump has
infamously said that trade wars are good and
they’re easy to win. And you wrote about this,
why the Chinese don’t think that the U.S. could
ever win a trade war with Beijing. It was a
very long list but tell us the highlights of that.
RLK: Right — in the early days of the so-called
trade war, the Chinese media and Chinese
experts were talking very frequently about how
the U.S. can’t win.
3
Examples were the U.S. is divided on tariffs
which is certainly true. China is not because
publicly people don’t speak against the Chinese
government, so that may be a little bit
artificial, but nonetheless it is a matter of public
policy in China to support the government.
There’s a nationalistic pride in China.
Americans will be affected by their pocket
book. They’re going to pay more for baseball
gloves and television sets and dishwashers.
And people are not going to be happy about
that. There will be industries that will be
affected — and technology and soybeans we
know. So there will be many, many interest
groups in the U.S. that will argue and fight
against tariffs.
So the basic reason is that the U.S. has a
divided approach to tariffs, and that’s certainly
true. Most experts deny that tariffs are an
effective way. Quiet diplomacy, putting
pressure on China in the right way is the way
because China does need to make some
changes. People in China recognize that.
HOST: As China is saying they will not be
blackmailed to doing these things. We’re going
to have to leave it there. Robert Lawrence
Kuhn, we appreciate your expertise. Thank you
very much for your time.
RLK: Thank you.
4
"
IMAGES-005-HOUSE_OVERSIGHT_018742.txt,"Stan Johnson Company

THE NET LEASE AUTHORITY®

Mark Hellwig | Director
mhellwig@stanjohnsonco.com

Brandon Duff | Regional Director Brad Feller | Senior Director Jessica Hyman | Senior Analyst
oduff@stanjohnsonco.com ofeller@stanjohnsonco.com jhnyman@stanjohnsonco.com

In Association With:
Sea Glass Properties
USVI Lic #1-10718-1B

Stan Johnson Company
303 East Wacker Drive | Suite 1111
Chicago, Illinois 60601
P: 312.240.0127 | F: 312.240.0158

www.stanjohnsonco.com

HOUSE_OVERSIGHT_018742
"
IMAGES-003-HOUSE_OVERSIGHT_016120.txt,"Historic energy sector liberalization

Partial privatization of energy sector assets could represent one of the cornerstones of
the ambitious medium-term diversification strategy, and, if confirmed, serve as a highly
visible and historic milestone. Such privatizations could ease key macro concerns
regarding unsustainable debt accumulation and Fx reserves drawdown. We believe it
would also confirm the government’s macro reform credentials, its preparedness for a
prolonged period of low oil prices and likely signal no near-term energy policy
capitulation. The NTP suggestion of a flat production capacity through 2020 suggests
less aggressive market share strategy, in our view.

Privatization of energy sector could start by 2018

In a recent interview with Bloomberg, Saudi Deputy Crown Prince Mohammed bin
Salman outlined an array of measures the Saudi government could introduce to help
diversify the economy, reduce its reliance on the hydrocarbon industry and ultimately
support medium-term fiscal consolidation in a low oil price environment. Amongst these
measures, the Deputy Crown Prince included a potential Initial Public Offering (IPO) of
Saudi Aramco (at the parent level, and including various subsidiaries). With close to
250bn bbls of oil reserves, more than 10mn bbls per day of production and the world’s
Ath largest gas reserves, Saudi Aramco is the leader in hydrocarbon access among state
owned, private and public Oil & Gas (O&G) companies alike. Saudi Aramco is the world’s
largest Oil & Gas Company by production and arguably the Kingdom’s most important
asset. Specifically, he outlined a plan that would see “less than 5%” of the company
being sold to investors on the Saudi stock exchange no later than 2018 (but potentially
as soon as 2017). Furthermore, he indicated the Kingdom is seeking to transform
Aramco into an “energy-industrial company”. The high profile stake sale would provide a
highly visible anchor to diversification efforts and capitalize its newly restructured SWF.

Energy assets form a major and strategic sector for the economy

It is hard not to understate the central role the energy sector plays in the Saudi
economy. The hydrocarbon sector represented 43.0% of the economy in real terms in
2015. Deputy Crown Prince Mohammed bin Salman suggested a USS2trn price tag for
Saudi Aramco in his Bloomberg interview. Aramco is deeply intertwined with the Saudi
state, and its workforce Saudization has increased over the years to 83%. Furthermore,
it is the foundation of its state’s domestic and international energy policy. As such, a
decision to partially privatize the energy sector will be a momentous one to be carefully
examined by the technocratic and political leadership, in our view.

More questions than answers at this stage

Deputy Crown Prince Mohammed bin Salman’s initial suggestion in an interview with
The Economist that a Saudi Aramco IPO could be considered has raised market
expectations. Ensuing comments from Aramco’s management did not make clear
whether a listing would occur, and if so, in what form (upstream versus downstream),
although the Deputy Crown Prince’s subsequent Bloomberg interview suggested further
impetus being given to studying the matter.

A listing of the entity itself may force much more transparency regarding hydrocarbon
reserves (broadly unchanged for several years), lifting costs (local crude oil sales suggest
cUSS5/bbI if no loss is incurred) and the fiscal regime (estimates in the press have
suggested that Aramco’s profits are taxed at 85%, with royalties set at 20%, but we
also note from fiscal data that the fiscal transfer ratio in oil revenues to the Ministry of
Finance appears to drop in years of low oil prices). It may also conflict with non-
commercial ventures or strategic aspects of Saudi Aramco. This would include the
maintaining of spare capacity and state policy matters (including energy policy). Note
for instance that the US is the second regional destination for Saudi crude oil exports
(17.5% of total Saudi crude oil exports) behind Asia. This was due to a strategic
geopolitical decision to remain an important crude oil supplier to the US and was
achieved through the buying of stakes in refineries in 1988.

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

HOUSE_OVERSIGHT_016120
"
IMAGES-010-HOUSE_OVERSIGHT_029849.txt,"From: Sultan Bin Sulayern

Sent: 9/18/2015 5:26:12 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fareed Zakaria: Trump sells America short

Importance: — High

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_029849
"
TEXT-002-HOUSE_OVERSIGHT_032936.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 11/28/2016 12:22:35 AM 
To: jean.huguen • Lesley Groff 
Importance: High 
can you delay your trip one week, . trump related issues occupying my time. say 13 14 instead 
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 032936 
"
IMAGES-008-HOUSE_OVERSIGHT_026018.txt,"From: ee

Sent: 11/12/2016 9:23:22 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

Sorry in the conference room listening to the Portuguese prime minister ....

Nthg revolutionary really .

Was watching tv last night - either Trump is a misunderstood genius or it s going to be complicated ...

Ariane de Rothschild

On 12 Nov 2016, at 09:35, jeffrey E. <jeevacation@gmail.com> wrote:

cam you speak now?

On Fri, Nov 11, 2016 at 6:29 Pi Wrote:
I see who you re talking about . Brilliant , but I was told his wife didn t want to move from London esp not
Geneva . Do you mind asking him ?

Ariane de Rothschild

On 11 Nov 2016, at 22:48, jeffrey E. <jeevacation@gmail.com> wrote:

met a really intersting banker for youto meet, former cfo deutsch bank, formercfo bmw german, born
in south america.

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_026018
"
IMAGES-002-HOUSE_OVERSIGHT_014418.txt,"demand. Our US economics team expects the stimulus to boost growth in H2 CY17 and
likely CY18. Japan should be a big winner from stronger US growth, given its high
exposure to the US economy in terms of exports and corporate profits (Chart 22 and
Chart 23). On the negative side, aggressive protectionist trade measures, if
implemented, would depress US growth and global trade further. If combined with a
stronger yen, Japan’s economy would be hit hard.

Chart 22: Japan's export exposure (% of total gross and value-added Chart 23: Breakdown of Japan exports to US by commodity, 2015
exports*)
30
25
20
15
10

5

0

USA CHN KOR TWN GER = Chemicals = Manufactured goods m Machinery

. m Electrical Machinery m Transport equipment Others
mGross exports m Value-added basis

Source: BofA Merrill Lynch Global Research, MoF
Source: OECD

Base case: “benign Trump” scenario

For the moment, we are assuming limited positive and negative policy changes. Our US
team expects uncertainty to cause a modest slowing of growth in the first half of next
year, but this will be more than offset by fiscal stimulus in the second half and into
2018. But the size of the fiscal expansion will likely be smaller than promised, and the
introduction of modest protectionist measures means that the boost to global trade will
essentially be zero. Table 1 shows the impact on growth under two scenarios, based on
different assumptions for global trade and FX. Under the upside case, Japan’s GDP could
rebound towards 2%, as the economy benefits from a combination of stronger global
trade and a weak currency. Under a downside “protectionist” scenario, 2017 growth
would slow to around zero and would most likely tip Japan back into deflation.

Table 1: Sensitivity of Japan's growth to global trade and foreign exchange rate

(Assumptions) Baseline Case 1 - Upside Case 2 - Downside

Global trade 0.0% 3.0% -10.0%

% JPY appreciation (*) 1.0% -10.0% 10.0%

(Simulation results) Change (Contribution) Change (Contribution) Change (Contribution)

{"") {"") {"")

Real GDP impact 0.2ppt — 0.9ppt — -1 Appt —
Consumption 0.0% (0.02ppt) 0.3% (0.15ppt) -0.8% (-0.44ppt)
Capex 1.9% (0.26ppt) 2.9% (0.40ppt) 3.2% (-0.44ppt)
Net Exports = (0.00ppt) = (0.30ppt) = (-0.23ppt)

Source: BofA Merrill Lynch Global Research, CAO, MoF, IMF
(*) Rate of appreciation of Japanese yen in terms of effective exchange rate
(**) Contributions to the change in real GDP

Political impact of a Trump administration
For Japan, the impact of Trump’s election goes beyond economic issues. It also impacts
defense spending and regional trade arrangements.

Military self-reliance and budget choices

Trump has made it clear that he wants allies of the US to shoulder a greater share of
the defense burden. There is a lot of uncertainty as to how far Trump will go to re-
define the US-Japan alliance. Despite his criticism, Japan already pays about 75% of US
military hosting costs. However, it seems fair to assume that Japan will be expected to

Bankof America <2
Merrill Lynch Japan Economics Viewpoint | 18 November 2016 9

HOUSE_OVERSIGHT_014418
"
IMAGES-010-HOUSE_OVERSIGHT_029691.txt,"given Egypt’s much-savored relationship with other Gulf countries (not to mention the United States). It does
represent a re-balancing of relationships in a changing Middle East nonetheless.

A new round of talks between Iran and the P5+1 (five permanent members of the Security Council plus Germany)
has now been scheduled to take place on February 26"" following weeks of conflicting reports and what seemed
to be a diplomatic stalemate. This represents the first effort at talks at the political directors’ level since the
Moscow meeting in June of 2012. While the talks are restarting just over a month after the start of US President
Obama’s second term, Iran appears to have moved into its political season: tensions between President
Ahmadinejad and the speaker of the Majlis, Larjani, have gone public with mutual recriminations about corrupt
family members and associates.

Saudi Arabia: Former intelligence chief Prince Muqrin bin Abdulaziz was appointed second deputy prime minister of Saudi
Arabia on February 2"", a role traditionally associated with the incumbent being second in line to become king. Prince
Muarin is the youngest son of the kingdom’s founder.

Yemen: A UN Security Council delegation visited Yemen on January 27"" in a show of support to President Hadi
and Yemen’s political transition. The visit reflects the Security Council’s interest in seeing Yemen move forward
with the National Dialogue Conference. During the visit there were large demonstrations, as thousands demanded
a fair and just approach in dealing with former president Ali Abdullah Saleh, who has received immunity under
the Gulf Cooperation Council initiative.

De ee ee ee ee ee ee ee i 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_029691
"
IMAGES-001-HOUSE_OVERSIGHT_011900.txt,"/ BARAK / 143

were a regional superpower, with a military as effective as any in the world, and a
high-tech economic sector justifiably compared to Silicon Valley.

Every few weeks, Bibi, Lieberman and I would meet for a wide-ranging
discussion on the patio of the Prime Minister’s residence. Shortly after we’d
abandoned the idea of a military strike, I raised head-on my objections to the
skewed image Bibi was promoting of our country. It wasn’t just inaccurate, I said.
Especially when his rhetoric was in full flight, and he compared the prospect of a
nuclear Iran to a new “Holocaust,” it struck me as a betrayal of the core tenet of
Zionism: an state in which Jews were in control of their own destiny. “We are in
that position now,” I said. It was nonsensical to argue we were so threatened by
everything around us, for instance, that we couldn’t “risk” taking the initiative
required to disentangle ourselves from the Palestinians on the West Bank. “I don’t
get you,” I said, turning to Lieberman as well. “Your rhetoric suggests you have
spines of steel. But your behavior is living proof of the old saying that it’s easier to
take Jews out of the ga/ut, than take the galut out of the Jews.” Galut is Hebrew for
the diaspora. “The whole Zionist project was based on the idea of taking our fate
into our own hands, and actively trying to change the reality around us. But you
behave as if we never left the ga/ut. You’re mired in a mindset of pessimism,
passivity and anxiety, which in terms of policy or action, leads to paralysis. Of
course, there are risks in any action, or any policy initiative. But in the situation
where Israel finds itself, the biggest risk of all is being unable or unwilling to take
risks, as 1f we somehow on the brink of destruction.”

I was especially upset by Bibi’s increasingly use of Holocaust imagery. “Just
think of what you’re saying,” I told him. ““You’re Prime Minister of the State of
Israel, not a rabbi in a shfet/, or a speaker trying to raise funds for Israel abroad.
Think of the implications. We’re not in Europe in 1937. Or 1947. If it is a
‘Holocaust,’ what’s our response: to fold up and go back to the diaspora? If Iran
gets a bomb, it’ll be bad. Very bad. But we’ll still be here. And we’ ll find a way of
dealing with the new reality.”

Yet “fortress Israel” was irresistibly comfortable for Bibi politically. I now had
to accept that, while he and I had known each other for more than half-a-century,
nothing I could do or say was going to change that. With the next Israeli election
months away, in January 2013, I confided to Nili, and then to my closest aides, that
I was not going to run for a seat in the Knesset. Israeli military action against Iran

429
HOUSE_OVERSIGHT_011900
"
IMAGES-006-HOUSE_OVERSIGHT_022114.txt,"‘TERSON

she noticed, Epstein ate all the
t for both of them. She found it
osedly brilliant man had left for
he Marquis de Sade. And then
a one of Epstein’s assistants —a
ho told her, “Jeffrey wanted me
tly.
slish features and flowing blond
: then, with a bad case of morn-
, sometimes in public, and these
rt only added to her ever-present
sosedly brilliant, he'd struck her,

nv

e doesnt let the charm slip into
e steely and calculating, giving
nachinery running behind them.
>, after refusing to give an inter-
\ite. You get the first move.’ It was
nan who seems to feel he can win
»f the other side. His advantage is
ow him or his history completely

onsists of. He has carefully engi- 3
ie of the few truly baffling myster> =
ed world. People know snippets, =

s friends gave were glowing: | 4
ll of seeing patterns,” Les Wexner q
.in politics and financial markets, 7
and fashion trends. My skills ate

_have on the girls?”

- Firtuy Ricw

not in investment strategy, and, as everyone who knows Jeffrey
knows, his are not in fashion and design. We frequently discuss
world trends as each of us sees them.”

“[m on my 20th book,” said Alan Dershowitz, who'd met
Epstein in 1997. “The only person outside of my immediate fam-
ily that I send drafts to is Jeffrey.” ‘

But Ward also talked to other sources, who had their own
questions and qualms about Jeffrey Epstein. Some were involved
in lawsuits against him. Others had served on prestigious boards
with him. One who had witnessed Epstein’s aborted stint on the
board of Rockefeller University called him arrogant.

One powerful investment manager wondered about Epstein’s
conspicuous absence from New York's trading floors. “The trad-
ing desks don’t seem to know him,” he says. “It’s unusual for
animals that big to not leave any footprints in the snow.”

Ward uncovered legal documents, including Epstein’s inter-
view with the SEC, given in the wake of his departure from Bear
Stearns. She visited a federal prison in Massachusetts and spoke
at length with Steven Hoffenberg, who told her that Epstein had
made a major mistake in taking Bill Clinton to Africa. “I always
told him to stay below the radar,” Hoffenberg said. He made other
accusations, about Epstein’s financial practices, which Epstein
denied—and Ward knew that Hoffenberg, the Ponzi-scheme

| mastermind, was not to be trusted. But she did find it strange that
' throughout the reporting process Epstein was much less openly
_ concerned with what she'd found out about his finances than

_ with what she'd uncovered about his dealings with women.

Time and again, he would call and ask her: “What do you

HOUSE_OVERSIGHT_022114
"
IMAGES-002-HOUSE_OVERSIGHT_013377.txt,"b. Epstein’s Allegations of Negligence by Edwards are Unfounded and Not
Actionable in Any Event.

In his Second Amended Complaint Epstein recognizes at least the possibility that
Edwards was not involved in any Rothstein Ponzi scheme. Therefore, seemingly as a fallback,
Epstein alleges without explanation that Edwards “should have known” about the existence of
this concealed Ponzi scheme. Among other problems, this fallback negligence position suffers
the fatal flaw that it does not link at all to the intentional tort of abuse of process alleged in the
complaint.

Epstein’s negligence claim is also deficient because it simply fails to satisfy the
requirements for a negligence cause of action:

“Four elements are necessary to sustain a negligence claim: 1. A duty, or

obligation, recognized by the law, requiring the [defendant] to conform to a

certain standard of conduct, for the protection of others against unreasonable

risks, 2. A failure on the [defendant’s] part to conform to the standard required: a

breach of the duty ....3. A reasonably close causal connection between he

conduct and the resulting injury. This is what is commonly known as ‘legal

cause,’ or ‘proximate cause,’ and which includes the notion of cause in fact. 4.

Actual loss or damage.

Curd v. Mosaic Fertilizer, LLC, —-— So.2d__, 2010 WL 2400384 at *9 (Fla. 2010). Epstein
does not allege a particular duty on the part of Edwards that has been breached. Nor does
Epstein explain how any breach of the duty might have proximately caused him actual damages.
Summary judgment is therefore appropriate for these reasons as well.

Finally, for the sake of completeness, it is worth noting briefly that no reasonable jury

could find Edwards to have been negligent in failing to anticipate that a managing partner at his

law firm would be involved in an unprecedented Ponzi scheme. Scott Rothstein deceived not

HOUSE_OVERSIGHT_013377
"
IMAGES-011-HOUSE_OVERSIGHT_031497.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

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_031497
"
IMAGES-004-HOUSE_OVERSIGHT_017986.txt,"Case 1:19-cv-03377 Document1-3 Filed 04/16/19 Page 2 of 3

Alan Dershowitz: ‘| never had sex with Virginia Roberts’ | Miami

a) miamiherald.com/opinion/letters-to-the-editor/article222532470.html

In its series on the Jeffrey Epstein case, “Perversion of Justice,” the Herald quotes an
affidavit by Virginia Roberts — a woman | never met — claiming she had sex with me on
Epstein’s island, ranch, plane and mansion. It then simply says | “denied” it.

In fact, | disproved it. | produced my travel, phone, credit card and TV appearance
records, conclusively proving that | could not have been and was not in any of these
places during the time Roberts knew Epstein. The former FBI director, assisted by a
former assistant U.S. attorney and a chief federal marshal, reviewed these records and
the other evidence and concluded that, “The totality of the evidence found during the
investigation refutes the allegations.”

There is other evidence, currently under seal, that directly establishes my innocence. | am
seeking to unseal emails between Roberts and a journalist, a book manuscript by Roberts
and a legal brief that are smoking guns showing that | was “deliberately framed for
financial reasons.”

ADVERTISING

inRead invented by Teads
There is also irrefutable evidence that Roberts lied about other people for money. She

told a British tabloid that she met Al and Tipper Gore on Epstein’s island and swore that
she had dinner with Bill Clinton on the island. But Secret Service records prove that none
of these people were on the island. Indeed, the Gores didn’t even know Epstein.

Get six months of free digital access to the Miami Herald

| have a tape recording of a conversation with Roberts’ closest friend in which she says
that Roberts told her she “felt pressure to go after [Dershowitz]” in order to obtain
money from a wealthy businessman, and that Roberts had never previously included me
among the people with whom she claimed to have had sex.

Finally, one of Roberts’ own lawyers has acknowledged in front of witnesses that her
claims against me are “wrong” “simply wrong.”

The evidence of my innocence is indisputable: | never met Roberts; | never had sex with
her; she simply made up the entire story for money.

Roberts made her false claims against me in court documents that immunize her from
being sued for defamation. | challenge her to repeat her false accusations out of court,
so that | can sue her for defamation and let a jury decide — after seeing all the evidence,

1/2

HOUSE_OVERSIGHT_017986
"
IMAGES-011-HOUSE_OVERSIGHT_030951.txt,"Sent from my iPhone

Begin forwarded message:

From: ""Jacoby, Craig”
Date: September 5, 2012 7:27:21 PM EDT
To: ""Darren Indyke""
Ce: ""Hosain Rahman""

, ""lan Osborne"" iy . ""Jacoby, Craig”

Subject: Jawbone/Mort

Hi Darren,

Just checking back in on the Jawbone investment. Thanks for sending across your comments. If possible, we
would like to avoid a situation where we recirculate the investment agreements in place with Jawbone’s
other investors, and our hope is that we can accommodate as many of your comments as possible short of
taking that step.

We think that the best way to address your comments would be to have Jawbone enter into a new purchase
agreement covering both the preferred and the common stock being sold to Mort. Jawbone would make its
representations and warranties anew upon the closing of the purchase agreement, so Mort would not be
relying on the reps made back in June 2011, nor on the schedule of exceptions prepared in connection with
the initial closing. The new purchase agreement would have the same closing conditions that applied to the
initial closing of the JP Morgan investment.

Given the affiliation between Mort, Hedosophia and Apoletto and their collective investment in preferred
and common stock, we also want to propose that Mort (along with the other two parties) be treated as a
“Major Investor” under the Investor Rights Agreement so long as their collective holdings of preferred and
common stock remains at least equal to 2,000,000 shares. We intend to do this with a side letter that would
not require the signature of the other parties to those documents. You have already seen the draft
amendment that would expand the definition of “Registrable Securities” in the investor rights agreement to
include the common stock being purchased by Mort, and we do anticipate that our principal investors will
quickly sign that document once we circulate it.

You had indicated a desire to have JP Morgan approve the sale of Series 5 Preferred outside of the existing
purchase agreement. As | indicated to you on the phone, we do not think that this is necessary, but we are
willing to obtain from them an acknowledgement to that effect prior to the closing of Mort’s investment.

We do believe, however, that various of your other requests for change in the investor documents would
require a broader amendment and restatement of the applicable documents, and some of them concern
business points that were the subject of specific negotiation with JP Morgan and others of our investors in
prior rounds. These points include your comments to the drag along rights, the registration rights, the
information rights and the venue provisions. We would like those terms to remain as we had negotiated
them with JP Morgan.

If you are comfortable with the approach outlined in this email, we can get you draft documents, including a
draft updated Schedule of Exceptions, tomorrow for your review and approval. Please let me know.

HOUSE_OVERSIGHT_030951
"
IMAGES-007-HOUSE_OVERSIGHT_023643.txt,"definition was “arousal of sexuality.”

Lenny was performing that night at
Town Hall. He asked me to hand out
copies of The Realist, with the Ellis in-
terview, in front of the theater. From then
on, Lenny thought that his act would
be protected, because it had redeem-
able social value. But that’s not the way
prosecutors felt about it.

EP: Right. The conspiracy theory I’ve
heard is that it’s because he took on the
Catholic Church.

PK: Oh, absolutely. Absolutely right. His
“Religions, Inc” piece got him in a lot
of trouble. The reason he got busted for
obscenity was there wasn’t a law against
blasphemy, but that’s what he was really
arrested for.

EP: You know when Scott Marshall and I
were putting together the Lenny Bruce
tribute in the Wilcock comic, we included
John’s experience with Lenny. You’re
in a few panels. It’s been fun to find op-
portunities to include you in the comic
-- you're in five scenes now.

Ihave sort of a funny agreement with
John: If he can’t recall the full story, or
dialogue, I can fill in the details.

PK: Oh (laughs) well that’s trusting.

EP: You both are very trusting people! He
couldn’t remember verbatim exchanges
with you from 1961. So, we gave the joke
from you to be “Lenny would be a big fan
of your couch, John.”

PK: That’s funny. When I saw that in your
comic, I remembered saying it! I remem-
bered something that didn’t happen. Now
I have something in common with Kel-
lyanne Conway.

It’s something I would have done. You
made up something real.

EP: Thank you. I only do that in a few
panels to keep everything glued together
as a story. Otherwise it’s just a bunch of
disconnected fragments.

PK: Too close to reality, then.

EP: How do you think Lenny would
respond to Trump?

PK: I think he would do it as a really high
form of satire. He would make Trump a
hero -- in the sense that he would take
a different approach. ’m saying that
because he did that about Adolf Eich-
mann, the Nazi organizer. Lenny would
say “He was doing his job!” He would
just take an approach like that. Lenny
would “appreciate” the defined tragedy.

1See The American Bystander #1, Dec. 2015.

I think Bill Maher’s show, February
17, was terrific. Lenny would have really
appreciated it. Just the same way Lenny
got serious sometimes, and the audi-
ence would say, “Hey, you’re honest!”
instead of “Hey, you’re funny.” Maher’s
monologue that night was really beauti-
ful. Because he’s well informed, and he
couldn’t just do jokes about it. He talked
about the fascism. He talked about the
dangers. It was just brilliant presentation
of the seriousness of fascism in action.
EP: What do you think Abbie Hoffman
would do about Trump?

PK: Oh, I think he would do the same
thing as Maher. Abbie really had a sense of
humor that was spontaneous. And it was
based on being well informed. Bill Maher
was doing that. He was rabble-rousing.
He was trying to let people know how
serious it was.

EP: I can’t help but feel such sadness that
Abbie is gone. You mentioned Shepherd
as an influence, for me it’s Abbie, who
I regret never knowing personally. You
read his books and every page glows. He’s
such a wonderful soul and gifted writer.
Do you recall going to rallies with Abbie?
PK: I remember we had taken some acid
in his home, and got a call that some
Puerto Rican kids had gotten busted for
pot. Abbie said “Okay, we gotta go there.”
Show them the hippies respected the
kids who were busted. Because they were
Puerto Rican kids. So, as we’re walking
there Anita, Abbie’s wife at the time, men-
tioned she was going to regurgitate from
the acid. And I said to her, “You can just
vomit over by the curb over there, and
we'll stand around you.” That we’d hide
her. Abbie said, “Now that’s community!”

There were lots of things like that. We
saw a police car, full of four cops, two in
the front and two in the back, and Abbie
yelled, “You guys on a double date?”

I told him he reminded me of Lenny,
and he said, “Oh really? He’s my God!”
EP: That’s an amazing story, partly
because there’s no way you can talk like
that to police now without being con-
fronted. I have this terrible habit where
I thank cops. I got tackled once because
a cop thought I was someone else, and,
partly out of fear, I thanked him. I always
feel like an asshole when I do it, too.
PK: I did the same thing (laughs) when
they frisked me. They frisked the report-
ers because they didn’t want the reporters
to have guns in court.

EP: Was this for the Harvey Milk trial?
PK: Yeah.

EP: During that trial, you coined the
phrase “The Twinkie Defense”. You’ve
done this a couple of times, creating an
expression or a term, that becomes a
permanent part of the language.

PK: I once started a list: Yippies, Twinkie
Defense, jilling off — that’s a woman
masturbating, instead of jacking off.

EP: “Soft-core porn,” you coined that.
PK: Yes.

EP: What do you think Robert Anton
Wilson would say about Trump?

PK: He would be very analytical about
him. You know, he would talk about the
insanity of it. He would just get to the
core of Trump. He’d be fascinated by it.
EP: He does like “mind fuckers.”

PK: Exactly, yeah. He would be a great
analyst of how we all have some narcis-
sism in us, but Trump is the king of — oh,
you know I’m doing now what you did —
when you made up what you think what
I would have said, there. And now ’m
saying what Robert ... what Bob Wilson
would say.

EP: But that’s totally correct, I think.
PK: But he would, because — there was
a European order of priests who got
married, or something like that. And I
gave Bob the assignment of writing about
that convention of the priests, as if he
was there. He loved doing that; he made
it seem real.

That was a very good form of his satire,
because once again, it was not only pos-
sible, it was probable.

EP: What about Terry Southern? A lot
of people see The Magie Christian hap-
pening right now with Trump — Trump
is living out that description of the book.
He’s “making it hot for them.”

PK: Terry Southern was — he put a lot
of words in italics when he wrote. And
he talked the same way. He talked with
italics.

EP: Maybe he’d italicize Trump. Finally,
how do you think George Carlin would
respond to Trump?

PK: He might make a list. George loved to
make lists. He could make a list of lies,
of Trump’s lies.

EP: Paul, this has been so good talking
with you. Any closing advice to Donald
Trump, if he’s reading?

PK: | got my philosophy from [the comic
strip] Mary Worth: “When in doubt, do
the kindest thing.” B

I

—

WwW

HOUSE_OVERSIGHT_023643
"
IMAGES-009-HOUSE_OVERSIGHT_027997.txt,"to-air missiles to the bank of the Suez Canal after the truce in the War of
Attrition, the Egyptians had created an effective no-fly zone a dozen miles into
the Sinai. After the failed counter-attack, with the commander of the air force
warning that we were nearing our minimum “red line” number of fighter jets,
Golda contacted the Americans to propose a cease-fire in the south. But having
retaken the Suez Canal and pushed into the Sinai, President Sadat was in no
mood to call a halt to the fighting. The only way we were going to end the war
was to retake the canal and defeat the even larger Egyptian forces on the other
side.

To the extent that my part in war was different from other junior officers, it
was because of my history in Sayeret Matkal. Other Israeli sayerets were
attached to specific fighting forces. Sayeret Golan, for instance, was part of the
Golani infantry brigade in the north; Sayeret 7zanhanim, was part of the
paratroopers. But “matkal” is the Hebrew word for the general staff, since it was
the generals in military headquarters who had allowed Avraham Arnan to create
the unit. From the start, we had answered directly to the kirva, which ultimately
had to approve our operations. When I rushed back from Stanford at the start of
the war, I was still just a 31-year-old lieutenant-colonel. I had spent two years in
command of the equivalent of an infantry battalion. But I knew, and in many
cases had worked with, the men at the very top of the armed forces, including
Dado, the chief of staff. So while other young reservists were reporting to their
former units for assignment, my first port of call was the command bunker,
where Dado himself, aware that I’d done intensive tank training before taking
command of the sayeret, ensured that I would play my part in trying to turn
back the Egyptian advances. I also knew, or at least had met, many of the
generals plotting the counteroffensive in the command bunker in the south:
Shmuel Gonen, known as “Gorodish’’, who was head of the southern command;
Arik Sharon, who had left the same job for politics a few months earlier, but
was now commanding a division near the canal; and Chaim Bar-Lev, the former
chief-of-staff whom Golda had called back into emergency service. I even knew
the bunker. It was Um-Hashiba, the command and intelligence post from which
we had run Sayeret Matkal operations into Egypt after 1967.

So during the last, decisive 10 days of the war, I would witness first-hand the
tension among our top commanders in the Sinai, especially between Sharon and
Gorodish, since Arik wasted few opportunities to suggest, rightly but not always
helpfully, that his successor was woefully out of his depth. I would lead my
company back across the canal with one of the other main armored brigades in
the Sinai; take out Egyptian missile sites and help restore our jets’ command of

149
HOUSE_OVERSIGHT_027997
"
IMAGES-008-HOUSE_OVERSIGHT_025511.txt,"From: Lisa New is

Sent: 12/2/2014 6:29:16 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: poetry and science

Importance: — High

Dear Jeffrey,

Apropos of our conversation of a few minutes ago, This proposal went to someone I thought was
interested in the environment and science but who seems, in fact, far more interested in supporting TV
on a broad range of topics.

500,000 would fund this initiative as the second HGSE course (after Poetry of the City) and could begin
immediately, Jan 1. . I'd be thrilled to include other scientists you name, perhaps taping the group in a
session on metaphor at the edges of fields.

INote that taped sessions already include economics, marine biology, astronomy, evolutionary biology,
zoology, physics and computer science. Richard Dawkins, Walter Isaacson, David Mossberg and David
Malan have all said yes to tapings. Footage for all the others is already shot and ready for post
production.

I am having a drink with Dean of Ed School today and can explore this with him among other topics

Lisa

Poetry in America for Teachers II : The Poetry of Earth, Sea, and Sky

Combining study of poetry with study of science, environment and the visual arts. Materials include
hundreds archival images and live footage shot in

Cape Cod, Nantucket, Vermont, New York, Connecticut, Jamaica, Aspen, California, Papua New Guinea
including oceans, ponds, marshes, birds, fish mountains, coral reefs, forests as well in some major collections
(HMNH etc)

with author Michael Pollan on Joel Barlow (and colonial agriculture)

HOUSE_OVERSIGHT_02551 1
"
IMAGES-011-HOUSE_OVERSIGHT_030789.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 7/12/2018 10:36:12 AM
To! Michae! Wo! aa
Subject: Re: A few thoughts

yes, and hannity and he seemed jet lagged and sloppy . it had bit of air of desperation. .

On Thu, Jul 12, 2018 at 3:55 AM, Michael Wolff i> wrote:

1) I saw 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...

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_030789
"
IMAGES-012-HOUSE_OVERSIGHT_033038.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_033038
"
IMAGES-006-HOUSE_OVERSIGHT_020703.txt,"Image source: yuyamika7

#6 Dita Von Teese

HOUSE_OVERSIGHT_020703
"
IMAGES-004-HOUSE_OVERSIGHT_017992.txt,"EXHIBIT 5

HOUSE_OVERSIGHT_017992
"
IMAGES-011-HOUSE_OVERSIGHT_031483.txt,"To: Keough, Michael; King, Kathryn; Miller, Michael; Katelyn Wohlford; Y. Alp Aslandogan;
Weingarten, Reid; Remzi Kulen; Weinstein, Jason; Osman Oz.; David Marin; Erin Billings; Drake,
William

Cc: Eliopoulos, Steven

Subject: RE: Audio recording

BBC story:

http://www.bbc.com/news/world-europe-36988726

Turkey coup bid: Fethullah Gulen's lawyers
fear attack on his life

® 25 minutes ago

Lawyers for US-based Turkish cleric Fethullah Gulen say they fear an attack on his life, in the wake of the failed coup
attempt on 15 July in Turkey.

Turkey has issued an arrest warrant for Mr Gulen, accusing him of orchestrating the coup attempt. It has called on the US to
extradite him.

Mr Gulen denies any involvement.

Turkey has cracked down heavily in the wake of the coup attempt. On Friday the governing AK Party ordered an internal purge
of Gulen supporters.

More than 270 people died in events surrounding the coup attempt.

Speaking at a news conference in Washington, Mr Gulen's lawyers said they expected him to remain at the Pennsylvania
compound where he lives in self-imposed exile, and not attempt to flee.

Mr Gulen is a reclusive figure who rarely makes contact with the media.
Although Turkey has demanded his extradition, it has yet to make a formal request.

The US has said its judiciary will consider a request 1f and when it is filed. It also asked for evidence of the cleric's involvement
in the coup attempt, which Turkey says it has supplied.

Mr Gulen's lawyers said it was most unlikely any extradition request would stand up in a US court and almost no chance that
their client would get a fair trial in Turkey, given what had been said against him there since the coup attempt.

One of the lawyers, Reid Weingarten, said: ""It would be unprecedented and appalling if the United States took a frail almost-
octogenarian, plopped him on a plane to go back into that kind of setting with the hideous things that are being said about him
by the entire Turkish government.""

Much of Turkey's crackdown has targeted perceived supporters of the cleric.

Tens of thousands of public sector workers have been suspended or dismissed, with many having their passports cancelled.
There has also been a massive reshuffle of the military.

About 18,000 people have been detained or arrested.
Now local branches of the AK Party have been told to begin a purge of suspected Gulenists in their ranks.

Mr Gulen had been a close ally of President Recep Tayyip Erdogan until a bitter split between his movement and the party of
the president three years ago.

Turkey has listed Mr Gulen's movement as a terrorist organisation.

HOUSE_OVERSIGHT_031483
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HOUSE_OVERSIGHT_028468
"
IMAGES-006-HOUSE_OVERSIGHT_021409.txt,"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 | 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 | told her
that she might want to take a different path. Since she was the only woman in her year, as | recall, | did ask her on one of these
occasions if that made it difficult for her in any way. | asked, because as a faculty member | was interested in knowing what we could
do, if necessary to encourage more women to go into physics, and also because as someone she had asked for career advice from |
wanted to know if that made a difference to her. Re asking her for dinner.. | have gone back over emails from that period. | have
numerous requests from her asking me to go for coffee to talk, which | usually had to turn down because | was busy, and on several
occasions sh specifically asked me to have coffee with her off campus to talk, and | politely declined. | did let her accompany me off
campus one time to watch me do a BBC interview because she specifically requested it. | did and do have coffee and meals with
students on campus, and | see nothing wrong with this. | try to treat even students as respected colleagues if possible. | was shocked
when | later learned of the complaint she was apparently asked to lodge to the University, not least because there was no inappropriate
interaction and also because, well after the dates you listed on which she was apparently offended, she continued to email me with
joking questions or comments. Also, at a later AAAS conference, again in 2008, for which she had asked, and for which | had written
her a letter of recommendation to attend, my wife and | gave her a lift in our taxi well out out of our way in order to drop her off at her
hotel, and | note in an email response to her email about the conference, agin in 2008, | expressed that | would pass her regards along
to my wife and vice versa. When the University later informed me of the complaint | was shocked and concerned. When | spoke to
the human resources person, including relating my concerns and providing the emails in question, | was told that no formal complaint
of sexual harassment was deemed at that time to be called for, and that the young woman in question had agreed to that. By that time
| learned of the complaint | had already announced my intentions to leave Case to accept an offer at ASU—a very difficult decision for
me because of my long-standing attachment to the University, and the excellent relations | had with my colleagues there, both among
the faculty and among the administration. Because | was already in Arizona at the time | was asked not to have any further interaction
with the student | agreed to that request, both to respect her sensitivities and also because it was basically moot because | was not on
campus. | was also told that because it was being handled informally, that (a) it should remain confidential, which |, at least abided by,
and (b) if no further complaints were lodged in that case, that the University would remove the complaint from my record after 5 years,
which makes me surprised that someone violated that written agreement with you.

Re item 6: You report on ASU’s response to item #6 , without including the fact that the University specifically stated there were never
any allegations of sexual misconduct or harassment by me at the University, and morever the outside complaints were in fact related
specifically to your item #6. Further you neglect to mention that this complaint was by an anonymous third party, not the individual who
was allegedly harassed, who never lodged a complaint, and that no specific evidence was provided of the alleged transgression. | was
surprised and dismayed that both ASU and ANU launched investigations on the basis of this but was told by both Universities that
because of my high profile even such unsubstantiated third party complaints at private events unrelated to the University would be
investigated. The complaint was investigated throughly by both ASU and ANU and both came to the conclusion that it was not credible
and no university policies had been violated. . In addition ANU’s investigation, which took a full month found significant inconsistencies
in the allegation, suggesting distortion and fabrication, | will quote from the ANU report. The initial complaint, which in fact resulted in a
temporary suspension of my position at ANU, until it was dismissed, outlined the claim you made in the words you quoted in your note
to me, but it also stated

""It is the University’s understanding that a complaint was lodged directly to the conference organisers at the time of the incident.”

After the month-long investigation, during which | was told | was not to interact with anyone on campus (again moot because | was a
hemisphere removed) the final report absolved me of any wrongdoing, and indicated information inconsistent with the original claim and
apparent later claims as follows in the report, from which | quote:

""The allegations were made by an observer to the incident.

- The complaint did not identify, nor disclose the identity of the conference attendee who was allegedly touched in

an unwelcome manner.

- The conference attendee who took the ‘selfie’ photo did not lodge a formal complaint to the conference organisers
at the time of the incident (November 2016).

- The conference attendee who witnessed the incident, did not lodge a formal complaint to the conference organisers
at the time of the incident (November 2016).

The photo submitted as part of the complaint does not provide evidence of any physical contact.

- The complainant alleged that a photo exists, showing your hand on the breast of the conference attendee who took
the ‘selfie’ photo. This photo was not made available to the Australian National University, although it was requested
in the course of the investigation.”

(And for the record | often put my hand up in front of a camera if there is a flash, as | specifically request selfies not to include flashes,
so that | don’t end up with a series bright spots in front of my eyes for the next half hour)

What makes this particular type of allegation so repugnant is that | get asked for literally thousands of selfies, and when people come
up to me they are vulnerable, often shaking, and sometimes overly aggressive. | am particularly proud of the way | attempt to make all
people feel at ease, and respected, rather than humiliated. Thus, this false claim strikes at the heart of what | am about, which is to
acknowledge fans in a way that makes them feel appreciated. As | understand you had a reporter watching me sign books and take
selfies at the CFI conference in Las Vegas this year, that behavior is what they will have witnessed. Moreover, | am proud of the
interactions | have had at both Case and ASU, with students, colleagues and staff of all genders and ethnicities. | have worked hard to
support them, mentor them, and treat them with respect. | treat others as responsible adults, and | expect to be treated equally.

HOUSE_OVERSIGHT_021409
"
IMAGES-011-HOUSE_OVERSIGHT_030945.txt,"Gront_SmithO80178*eMailContent.htm

From: Grant J. Smith

Sent: Oct 13, 2009 08:07:09
To: Robert C. Buschel

Ce:

Bee:

Subject: Sam Fields on 302 Interview
re ll eae

BY SAM FIELDS
Guest Columnist

Actually, there are not 302 reasons. There is but one and it is called in federal court """"The 302"""". It
could screw the innocent and the unwary.

The newspapers and Browardbeat.com make clear that the Federal investigations that led to the arrests
of County Commissioner Josephus Eggleston, former Miramar Commissioner Fitzroy Salesman. and
School Board member Bev Gallagher are just beginning.

The FBI will be interviewing everyone from County Administrator Bertha Henry to bus divers about
anything and everything.

They are looking for scalps.

I suspect that if the average person thought about it, he would assume that when the FBI comes calling,
like Joe Friday from DRAGNET, they """"want the facts and nothing but the facts."""" Equally important
they want an accurate record of that interview so they bring a court reporter or at the very least a tape
recorder.

The average person would be wrong.

Agents bring a pencil and pad to take notes. They then prepare a summary of the interview called a
rao? Rea way

If you are called as a witness at ‘trial, prior to testifying, you will be given a copy of """"Your 302"" to
- review. It is arecord of what the FBI insists you said at your previous meeting.

If your interview lasted more than thirty seconds, it is guaranteed you will find numerous discrepancies. °
- Some of them will be insignificant; some of them could be material.

fite: YE [Decinenna eee rial/Desktop/E...uction/eDocs/eMail/Grant_Smith080178*eMailContent htm (1 of °) [11/6/2010 10:16:54 PM]
14545

HOUSE_OVERSIGHT_030945
"
IMAGES-007-HOUSE_OVERSIGHT_022549.txt,"HOUSE_OVERSIGHT_022549
"
TEXT-001-HOUSE_OVERSIGHT_022989.txt,"﻿







Evan Vucci

President Donald Trump at the White House on Wednesday, May 10, 2017. (AP Photo/Evan Vucci, File)


PALM BEACH

President Donald Trump is a shadowy, but ever-present, figure in the never-ending saga of billionaire sex offender Jeffrey Epstein.



» RELATED: The Post’s complete President Trump coverage



Mar-a-Lago, the commander-in-chief’s private-club-turned-southern-White-House in Palm Beach, was the backdrop for Epstein’s introduction to one of his dozens of teenage victims, according to court records.



In a short-lived lawsuit that Trump decried as “categorically false,” a California woman last year sued Trump and Epstein in federal court in New York City, claiming the two business tycoons raped her when she was 13 years old.



And Trump is on a star-studded witness list for an upcoming trial in Palm Beach County Circuit Court that attorney Jack Scarola promises will be the first public airing of Epstein’s lurid lifestyle.



But, Scarola acknowledges, it is unlikely the president will be part of what Scarola promises will be a salacious trial in the fall.



Click here to find out why.

Will President Trump be used as witness in sex offender Epstein case?






By Jane Musgrave - Palm Beach Post Staff Writer

   66













"
IMAGES-009-HOUSE_OVERSIGHT_027983.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_027983
"
IMAGES-007-HOUSE_OVERSIGHT_023657.txt,"Custodian of the Two Holy Mosques King Salman bin Abdul-Aziz Al Saud - may Allah protect him - has
made changes from the first day he took the judgment, sensing the importance of the role of the
authority if corruption. And also, his dissatisfaction with the role that the Authority of Corruption are
playing. If the fight against corruption is not at the head of power that is meaning that you do not have
the fight against corruption and you will not succeed no matter how you worked. | assure you that there
will never be an exception for anyone who involved in a corruption case, whether a minister, a prince, or
whatever. Anyone who convicted by enough evidence against him will be charged.

* Will social media networking contribute to detecting corruption if any?

- We must not take documents on the issue of corruption from social networking sites, where we cannot
identify the counterfeit from the non-counterfeited, the real or the not real, and who has a special
agenda of those who do not have a special agenda. Any Saudi citizen can be in his hand any documents
of corruption or information linked to anyone or else and he believes that there is corruption, he can
submit this document to the competent authorities headed by the Anti-Corruption Authority, and he
must be confident that the competent authorities are in turn.

* You Highness the Prince, the open war on Houthi in Yemen, will it last?
- No one wants to continue the war.
* What is its future in your opinion?

- No doubt that when the war had there was no option for the Kingdom of Saudi Arabia, it is a must to do
it, or the other will be the scenario is much worse. First his coup on the legitimacy by militias, that
classified as terrorist militias and we a negative experience with them in 2009. Secondly, these Militias
are forming a threat to international navigation, and all Yemen's neighbors. The third, the terrorist
activity which began in the other party in southern Yemen are active in a very strong exploitation of the
work of these militias, and if we waited a little danger will become more complex and will become
dangerous within the territory of Saudi Arabia, within the territory of the countries in the region, and in
the major international crossing points. So that, we have had no other choice. | think the Saudi armed
forces have achieved very big achievements. When the operations began, the legitimate control was
almost zero% on Yemeni territory. Today, the legitimacy controls 80 or 85% of the Yemeni territory,
while another alliance was found in northern Saudi Arabia in Iraq and Syria to fight Da'ash, which
controls part of Iraq. 60 countries led by the United States from 2014, that was a year ago before us, and
until today they did not do anything. But, we are 10 countries in the region and we were able to achieve
an achievement in a shorter time than the war in Iraq and Syria, this is an achievement for the Saudi
armed forces, Yemeni forces, and alliance forces.

* As long as they continued to control the Yemeni territory, why legitimate authority does not move to
Yemen?

- The legitimacy authority always moves between Yemen and Saudi Arabia and it has been in Aden for a
long time and always avoid being the president and vice president are both in Yemen in order to
mitigate the danger of the liquidation of Yemeni legitimacy, so they make steps in this way.

* There is a talk about a disagreement between Saudi Arabia and the United Arab Emirates about “El-
Eslah group”, their role in the war, and the future of Yemen. What is the validity of this speech?

HOUSE_OVERSIGHT_023657
"
IMAGES-008-HOUSE_OVERSIGHT_025505.txt,"GUID: EO02364E6-1BCE-47A7-B422-CF449336165C

Message: Yes

Sender:

Time: 06/10/19 08:06:18 AM (581871978)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: DA7193FF-0066-463B-86B4-0A8B0913452B

Message: But we are in terms agreed???

Sender: e:jeeitunes@gmail.com

Time: 06/10/19 08:09:56 AM (581872196)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: E9IEILF92-E6B1-434A-97DE-DOOECCO61BDC

Message: As always

Time: 06/11/19 06:11:17 AM (581951477)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 898C6088-CBB4-4BC5-972A-D4DBC211C5CD

Message: We set for today???

Sender: e:jeeitunes@gmail.com

Time: 06/11/19 06:27:29 AM (581952449)
Flags: 1085445

Is Read: No

Is Invitation: No

ral

GUID: FAEIB9CO-934F-4043-97FA-82C447DA2E59

Message: Yes

Time: 06/11/19 06:29:32 AM (581952572)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 4973157C-9243-437A-82A8-6E4C98697D1D

Message: 3 to 6???

HOUSE_OVERSIGHT_025505
"
IMAGES-006-HOUSE_OVERSIGHT_020717.txt,"#20 Michael Jackson

HOUSE_OVERSIGHT_020717
"
IMAGES-007-HOUSE_OVERSIGHT_024138.txt,"Summary

""With the global
economy
continuing to
muddle through,
we believe that
US corporate
bonds offer the
best risk return.""

36 UBS

Economy

The successful formation of a Greek government after the June 17 elections has reduced
the risk of an imminent Greek exit from the Eurozone. However, the Euro debt crisis
persists, and further reform and consolidation efforts in Spain and Italy are needed. In the
US, economic data weakened recently, but it remains in line with our forecast of moderate
growth of around 2% in 2012. The Fed extended ""Operation Twist"" until the end of the
year and is ready to do more if the economic situation deteriorates materially. Meanwhile,
Chinese activity data is showing signs of stabilization and inflation remains low. We expect
the Chinese economy to gradually pick up in the second half of 2012.

Equities

Despite our relatively positive outlook for US and Chinese economic growth, ongoing
Eurozone issues keep us neutral on global equities. We think US companies are better
positioned than their European peers, and thus keep our longer-standing preference for
US equities. US earnings are relatively robust and the recovery of the domestic economy
continues to support revenues. Furthermore, we keep a moderate overweight in emerging
market (EM) equities as valuations are attractive and we expect growth to accelerate in
the second half of the year. In the near term EM currency weakness remains a risk factor.

Fixed Income

High grade government bond yields remain extremely low due to ultra-expansive
monetary policy and ongoing investor concerns over global growth. While we expect
yields to only rise very gradually in the near term, we continue to see better investment
opportunities in other fixed income segments. US high yield remains our favorite asset
class, given attractive valuations and a favorable default outlook. We also keep our
overweight recommendations on investment grade and EM bonds.

Commodities

We avoid broad commodity exposure as we see further price weakness ahead. While the
worst of the oil sell-off is likely behind us, we see no reason for higher prices in the near
term and expect roll costs to weigh on positions.

Foreign Exchange

In light of the ongoing Eurozone troubles, we continue to prefer the US dollar over the
euro. We also prefer the Canadian dollar, given its relatively good growth dynamics, a
possible rate hike, and relatively high short rates.

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_024138
"
IMAGES-010-HOUSE_OVERSIGHT_029685.txt,"Sent from President's iPad

On Jan 18, 2013, at 5:06 PM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

as chairman of the council of europe , he is really mr human rights, Im sure that if he can be of help, he will

On Fri, Jan 18, 2013 at 5:27 AM, es wrote:

| remember meeting Jagland at your place when | came with Sultan.

Sent from Windows Mail

From: Jeffrey Epstein

Sent: 18 January, 2013 2:40 AM
To: Mohamed Waheed Hassan
Subject: Re:

also be advised that thorbjorn jagland is a great friend.

On Thu, Jan 17, 2013 at 3:26 PM, Mohamed Waheed Hassan {nn Wrote:
Hi,
Would be great if Lisa could visit us. She sounds like the right person to help us get organized.

Maldives just got elected Vice President of International Renewable Energy Agency. We are also Vice Chair
of the UN Human Rights Council. Not too bad considering we had so much bad coverage this year
internationally.

Best regards,

Waheed

Sent from President's iPad

On Jan 17, 2013, at 7:01 PM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

my friend in sweden, lisa svensson, would be perfect as your right hand orgainzing your team,, she has
diplomaitc experieince and is currently amabssador to the oceans for sweden

On Thu, Jan 10, 2013 at 11:00 AM, Mohammed Waheed Hassan Tote:
Hi,

The campaign team is starting to come together. We are continuing discussions with Jim and tomorrow
we will meet him face to face on skype. We will brief him on the situation here so that he will be able to
advice us more effectively. Already he has sent some very useful suggestions and we are working on
them.

Getting the right people to head various aspects on the campaign is difficult here but we should be able
to pull the team together shortly.

HOUSE_OVERSIGHT_029685
"
IMAGES-001-HOUSE_OVERSIGHT_011914.txt,"adverse publicity surrounding Epstein and his illegal activities, and the publicity falsely linking
Plaintiffs with those activities; namely, sex trafficking. (Composite Exhibit A).

10. One example of such a photographer was Michael Avedon, who worked with MC2 on
photo shoots. Avedon stopped answering Plaintiffs’ emails and phone calls after having known
Plaintiff for some time. Upon meeting Avedon out one night, Avedon stated to Plaintiff Brunel
he had “found out some information” from some friends of his and that he could not associate his
name with MC2.

11. This statement by Avedon was no doubt a reference to the alleged and false links
between Plaintiffs and Epstein's illegal activities with under-aged girls. This incident clearly
illustrates an example of lost business on Plaintiffs’ behalf.

12. | The second example of a business relationship that was terminated due to Epstein’s
intentional and illegal activities was a very recent one, involving an overseas agency, Modilinos
Model Agency. The owner stated that the model to be placed with MC2 “found some article in
internet, which changed her position and she preferred to be placed with another agency.” This
was relayed to Plaintiff Brunel by e-mail dated October 15,2014. This amply demonstrates that
Epstein’s intentional & illegal activities continue to cost Plaintiffs’ business income. (Exhibit B
attached).

13. A third example of a lost business relationship can be found in an e-mail dated October
17, 2014 (Exhibit C attached). The director of the | Mother Agency, Vladmir Yudashkin, states
that a specific model will not sign with Plaintiff MC2 due to her fear that Plaintiffs’ will force
her into illegal activities. The model bases her fears upon the stories on the internet falsely

implicating Plaintiffs as being involved with illegal activities with young models. This is

HOUSE_OVERSIGHT_011914
"
TEXT-001-HOUSE_OVERSIGHT_029604.txt,"From: 
Sent: 12/12/2018 5:27:36 PM 
To: jeevacation@gmail.com 
Subject: Michael Cohen Sentenced To 3 Years In Prison Following Plea That Implicated Trump - 
https://www.npr.org/676040070 
Importance: High 
Woow0 
Michael Cohen Sentenced To 3 Years In Prison Following Plea That Implicated Trump - 
https ://www.npr. org/676 040070  
HOUSE OVERSIGHT 029604 
"
IMAGES-006-HOUSE_OVERSIGHT_022100.txt,"ERSON

everyone agrees the greatest
Beach is Mar-a-Lago,” Trump
ning his battle. “I took this
ble and opened it, essentially,
ict that L owned it made it a lot
ieach establishment.”
xplained, “gets the [island’s]

club. Members paid $14,000
tein had never properly joined
Shislaine Maxwell gave Epstein

mn a member’s young daughter
+ while relaxing at Mar-a-Lago,
d out to Epstein’s house.

1e and that Epstein had tried to

irectly to Trump, who—in no
that he was barred from Mar-a-

filed, the police had taken no
_named Virginia Roberts would

| had an identical encounter at

ment Virginia filed in her civil j
as a changing-room assistant at 4
. dollars an hour, when Ghislaine ~
cwell asked Virginia if she was 4

a massage therapist —which, it j
ther,

ther girl, Virginia told her fal

Fittuy Ricu

who was also employed at Mar-a-Lago as a maintenance man-
ager. But Virginia’s father saw nothing wrong with the offer, and
he drove her, later that day, to Epstein’s house on El Brillo Way.

There, according to the document, Maxwell assured Virgin-
ia’s father that Ms. Maxwell would provide transportation home
for his teenage daughter. Then she led Virginia upstairs, to a spa
room equipped with a shower and a massage table. Jeffrey
Epstein was lying, naked, on the table.

Virginia was shocked, she says in the filing, but, with no
experience with massages, thought this could be massage ther-
apy protocol. “Ms. Maxwell then took off her own shirt and left
on her underwear and started rubbing her breasts across
[Jeffrey’s] body, impliedly showing [Virginia] what she was
expected to do,” the filing continues. “Ms. Maxwell then told
[Virginia] to take off her clothes. The minor girl was apprehen-
sive about doing this, but, in fear, proceeded to follow Ms. Maxwell
by removing everything but her underwear. She was then ordered
to remove her underwear and straddle [Epstein]. The encounter
escalated, with [Jeffrey] and Ms. Maxwell sexually assaulting,
battering, exploiting, and abusing [Virginia] in various ways and
in various locations, including the steam room and the shower.
At the end of this sexually exploitive abuse, [Epstein] and
Ms. Maxwell giddily told [Virginia] to return the following day
and told her she had ‘lots of potential’ [Epstein] paid [Virginia]
hundreds of dollars, told her it was for two hours of work, and

_ directed one of her employees to drive her home.”

At the time, Virginia was fifteen years old.

HOUSE_OVERSIGHT_022100
"
IMAGES-002-HOUSE_OVERSIGHT_013363.txt,"AFFIDAVIT OF BRADLEY JAMES EDWARDS

1. [am an attormey in good standing with the Florida Bar and admitted to practice in the
Souther District of Florida. I am currently a partner in the law firm of Farmer, Jaffe.
Weissing, Edwards, Fistos & Lehrman, P.L.

>

2. In 2008, I was a sole practitioner running a personal injury law firm in Hollywood, FL.
While a sole practitioner I was retained by three clients, L.M., E.W., and Jane Doe to
pursue civil litigation against Jeffrey Epstein for sexually abusing them while they were
minor girls. I agreed to. represent these girls, along with attorney Jay Howell (an
attomey in Jacksonville, Florida with Jay Howell & Associates) and Professor Paul
Cassell (a law professor at the University of Utah College Of Law). I filed state court
actions on behalf of L.M. and E.W. and a federal court action on behalf of Jane Doe.
All of the cases were filed in the summer of 2008,

3. My clients received correspondence from the U.S. Department of Justice regarding
their rights as victims of Epstein’s federal sex offenses. (True and accurate copies of
the letters are attached to Statement of Undisputed Facts as Exhibit “M”)

4, In mid June 2008, I contacted Assistant United States Attorney Marie Villafafia to
inform her that I represented Jane Doe #1(E. W.) and, later, Jane Doe #2(L.M.). I asked
to meet to provide information regarding Epstein. AUSA Villafafia did not advise me
that a plea agreement had already been negotiated with Epstein’s attomeys that would
block federal prosecution. AUSA Villafaiia did indicate that federal investigators had
concrete evidence and information that Epstein had sexually molested at least 40
underage minor females, including E.W., Jane Doe and L.M.

5. also requested from the U.S. Attomey’s Office the information and evidence that they
had collected regarding Epstein’s sexual abuse of his clients. However, the U.S.
Attomey’s Office declined to provide any such information to me. The U.S. Attomey’s
Office also declined to provide any such information to the other attorneys who
represented victims of Epstein’s sexual assaults.

6. I was informed that on Friday, June 27, 2008, at approximately 4:15 p.m., AUSA
Villafafia received a copy of Epstein’s proposed state plea agreement and learned that the
plea was scheduled for 8:30 am., Monday, June 30, 2008. She called me to provide
notice to my clients regarding the hearing. She did not tell me that the guilty pleas in
state court would bring an end to the possibility of federal prosecution pursuant to the
plea agreement. My clients did not learn and understand this fact until July 11, 2008,
when the agreement was described during a hearing held before Judge Marra on the
Crime Victims’ Rights Act action that I had filed.

7. In the summer of 2008 I filed complaints against Jeffrey Epstein on behalf of L.M.,
E.W., and jane Doe.

HOUSE_OVERSIGHT_013363
"
IMAGES-005-HOUSE_OVERSIGHT_019448.txt,"CEFOTAJ Business
Proposal

Jacmel, Haiti

PO Box 666 Brentwood, NY 11717 e Phone (631) 273-4100 © Fax (631) 273-4111 © yair@cefotaj.org © Wwww.cefotaj.org

HOUSE_OVERSIGHT_019448
"
IMAGES-002-HOUSE_OVERSIGHT_013405.txt,"From: Darren —  —_

To: Jackie Perczek

Date: 4/7/2011 1:44 PM

Subject: Privileged and Confidential

Attachments: Attorneys Say Miami Prosecutors Violated Crime Victims’ Rights Act | Main Justice.pdf;
Attorneys want Jeffrey Epstein agreement thrown out.pdf; Edwards Articles - Rush Interview 2. pdf;

Edwards Articles - Rush Interview.pdf; Part.005

Additional Articles.

Darren K. Indyke

Darren K. Indyke, PLLC

301 East 66th Street, 10B
New York, New York 10065
Telephone: (212) 517-2052
Direct: (646) 862-4817

Fax: (212) 517-7779

email: dkiesq@aol.com

HOUSE_OVERSIGHT_013405
"
TEXT-001-HOUSE_OVERSIGHT_030433.txt,"﻿Saturday, July 6, 2019 
OPINIONS 
TheVirgin Islands Daily News 11 
DAILY „:..„ NEWS 
Fuunck. Aug. 1,1930, by, Antonio Jur. and Ariel Me..., Sr. 
Published by Daily News Publishing Co., Inc. 
Archie Nohigian, Publisher ..1LoweDavls. Edkor 
The week in cartoons 
Government turns its back 
on Jeffrey Epstein's sex victims 
From the Sun Sett fine, FL Lauderdale. Fla 
Private Imvyers allowed sexual predator Jef-
frey Epstein to escape justice. Epstein's new 
defense team works for the federal gmerninent. 
The U.S. attorney for the northern district 
of Georgia claimed last week that even though 
prosecutors in South Florida broke the law 
%then they approml an outrageously light se, 
tence for Epstein, the deal must stand. B,ing 
Pak may not actually be on Epstein, legal team, 
but he has placed the Department of Justice on 
Epstein, side. 
an'agrerevIZI; EPstefillietlids a it'll:di; l'Pr=nYt 
inunp, former President Bill ulinton and 
Prince Andrew. Between 1998 and 2., E, 
stein recruited roughly three dozen underage 
girls — generally from poor and troubled fami-
lies—to his house in Palm Beach and sexually 
abused them. 
Epstein could have faced fethral sex traffick-
ing charges. He could have faced life in prison. 
Instead, the U.S. Attorney for the Southern Dis-
trict of Rorida —Alex Acosta, now Trump, la-
bor secretary — gave Epstein immunity on fed-
eral charges and allowed him to plead guilty to 
minor state charges. Then-Palm Beach County 
State Attorney Barry K.rischer went along. E, 
stein served 13 months in jail — he was allmked 
out about haff the time — and had to register 
with die state as a sex offender 
Prosecutors never told the victims about the 
agreement Until the signing of that othous 
agreement in 2007, the girls believed the FBI 
was still investigating 
The victims challenged the deal, which a, 
plied not j. to Epstein, but also to those who 
recruited the girls and joined in the abuse. Last 
February, U.S. District Judge Kenneth Matra 
ruled that prosecutors Ind violated the Crime 
Victims RigNs Act In criticizing the govern-
ment, Marra noted, ""Epstein worked in concert 
with others to obtain minors not only f his 
own sexual gratification, but al. for the sental 
gratification of others."" 
Mona then as. attomeys for both sides 
how he should correct this violation. Pak got 
the case because Acosta, old office had to 'r-
euse itself 
Pak, idea?The victims could ""confer in pri-
vote"" with prosecutors about the deal. Prosec, 
tots co. get more trsining in how to consuk 
with victims. But the deal stands. The victims 
don't deserve even an apology. 
Pak argues that the Crime Victims Rights 
Act contains no provision for undoing the no, 
prosecution agreement which is what the 
tims want. Doing so, Pak claims, could violate 
separstion of powers. 
That sounds lilce a waming to Marra — 
one he should ignore. Prosecutorial discretion 
doesn't maner when the action in question 
breaks the law. Even Pak acknowledges repeat-
ethy that it hopper.. 
The government, he writ., ""should have 
communicated with the victims in a straight-
fonvard and transparent way,' Pak ""regrets that 
the manner in which (the government) corn-
municated the resolution of the Epstein case to 
the victims .11 short.- Prosecutors could have 
communicated ""more clearly and direcdy-
with die victims.-
None of that happened because Acosta, 
Krischer and Epstein's laAryers didn't want the 
deal to become p.c. The victims might have 
gone public with their complaints. Metha cov-
erage could have ki. the deal. 
Indeed, the record reflects the lengths to 
which Acosta and I.scher sought secrecy. 
Acosta thove from Miami to West Palm Beach 
to meet with Epstein attorney Jay Lefkowitz. 
Krischer wrote to a federal prosecutor, ""Glad 
we could get this worked out for reasons I won't 
put in writing."" 
We acknowledge that Pak di.1 create this 
mess. But his argument insults the public and 
reflects badly on die Department of Justice. 
""The resolution in this case,- Pak writes, 
""has led some to conclude that die government 
chose for impropernmasatons not to prosecute 
:IZ'1%iaa=1 ththe Iptrint:liPisaltsitvubestgreenn 
able to avoid talking about it for more than a 
decade. 
Acosta duc. the issue during his confir-
mation hearings in Apri12017. Last November, 
The Miami Herald tan a series on the case that 
featured interviews with victims who agreed to 
be identi.. Acosta refus. to comment. So 
did I.scher. 
Some might argue that the victims have re-
ceived money from civil lawsuits and should 
move on. But can there be a price for what E, 
stein and his accomplices did to these women? 
How ma, other victims are there? Why should 
a man who once faced a 52-page indictment be 
able to resume a life of privilege? 
""While the court cannot (mind the post."" 
Pak argues, ""the ten.. proposed 
by the goverment would 
give the victims a mean-
hmagvea theiPrc=tYes t 
heard and to un-
derstand, if not 
: icoctei ath ed ed xi; 
this matter-
Unaccept-
able is right. 
The victin, 
lawyers will 
file their re.-
t3iers o u Icc ""I a 
Marra to void 
the agreement 
— This edito-
ria is the opin-
ion of the Stet 
Sentinel Editorial 
Board 
The Da i y News' opinions are expressed only in its editorials. 
The opinions expressed in columns, letters, cartoons and guest editorials are those of the particular author or artist 
- 
Some might 
argue that the 
victims have 
received money 
from civil 
lawsuits and 
sh OU Id move 
on. But can 
there be a price 
for what Jeffrey 
Epstein and his 
accomplices did 
to the. 
women? How 
many other 
victims are 
there? Why 
should a man 
who once faced 
a 52-page 
indictment be 
able to resume 
a life of 
privilege? 
"
IMAGES-003-HOUSE_OVERSIGHT_016134.txt,"Table 10: Public institutions budget appropriations

SARbn US$bn % of GDP

Universities 55.7 14.8 23
Saudi Arabian Airlines 28.5 76 1.2
Saline Water Conversion Corporation 15.6 4.2 0.6
General Authority of Civil Aviation (GACA) 15.5 44 0.6
Saudi Post Organization 3.2 0.8 0.1
Grain Silos and Flour Mills Organization 29 0.8 0.1
Saudi Ports Authority 1.8 0.5 0.1
Saudi Railways Organization 1.7 0.4 0.1
Other 38.9 10.4 1.6
Total 163.7 43.7 6.8

of which, public institutions in sectors that could be privatized 124.8 33.3 5.2

Source: SAMA, Ministry of Finance, Bank of America Merrill Lynch Global Research. Data as of 2015 budget.

Sales of PIF assets could help replenish fiscal reserves but not Fx reserves
Secondary sales of domestic assets could be a faster way than Initial Public Offerings
(IPOs) and privatizations for the Ministry of Finance (MoF) to raise its fiscal reserves at
SAMA, in our view. We look at this possibility to assess the potential for the MoF to use
it as an option to support its fiscal reserves at SAMA and prevent a debt build-up in
response to ongoing fiscal deficits.

If this were to take place, this could occur through holdings of the PIF rather than the
pension funds who are large institutional investors in the domestic equity market, in our
view. We calculate that the PIF could sell stakes worth around SAR200bn (US$53.6bn)
domestically through liquidating existing minority stakes and selling down majority
holdings while retaining control. If the PIF holdings are above 50%, we assume
arbitrarily that the holding is strategic, and thus calculate the current value of the stake
that the PIF (using the current stock price in the market) can sell down so it retains a
controlling 51% ownership share. If the PIF holdings are below 50%, we arbitrarily
assume that the holding is not strategic, and thus calculate the current value of the
stake that the PIF holds (using the current stock price in the market) as we assume it
could be fully liquidated.

The proceeds of sales domestically (without foreign participation) would increase
central government deposits at SAMA, decrease other domestic liabilities of SAMA but
keep Fx reserves unchanged. Because of the latter, because such large coordinated sales
could weigh on the market and as the PIF is targeted to become the largest SWF by
Saudi authorities, we doubt this is going to be a course policy-makers are likely to be
considering in the near term.

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

HOUSE_OVERSIGHT_016134
"
IMAGES-005-HOUSE_OVERSIGHT_018756.txt,"wes :

HOUSE OVERSIGHT 018756

"
IMAGES-007-HOUSE_OVERSIGHT_023131.txt,"Palm Beach estate over time. She wanted Epstein prosecuted — and was willing to
testify — but prosecutors never gave her the chance, she told the Herald.

In addition, FBI records show that agents had traveled to New York and New
Mexico to interview other possible victims, the Herald found. The non-prosecution
deal that was struck was filed under seal. The result was that no one — not even the
judge — would know the full scope of Epstein’s crimes and how many victims were
involved.

Acosta, who now heads a federal agency with oversight of international child labor
laws and human trafficking, was personally involved in the negotiations, records,
letters and emails show.

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.

By C-SPAN

Sloman reiterated Acosta’s earlier contention that most of Epstein’s victims
wouldn’t cooperate.

“So somehow, had Epstein been a child molester of one or two victims, then they
would have prosecuted him?” said Wild’s attorney, Brad Edwards, in an interview
with the Herald for its series published in November. “But because he molested
hundreds of victims and some of them wouldn't testify, then they are saying, “we
can’t prosecute.’ How absurd is that argument?”

Edwards tried unsuccessfully to block the plea deal in federal court. In 2008, days
after Epstein was sentenced, he filed an emergency order, alleging that the
agreement was illegal because it violated the Crime Victims’ Rights Act, which
grants crime victims certain rights, including the right to confer with prosecutors
and be notified of a plea deal. The lawsuit is still pending a decade later.

“There is a reason for the Crime Victims Rights Act — so that prosecutors don’t
preempt a victim’s ability to speak for themselves about a proposed plea bargain,”
Scarola said. “Here, the decision was being made secretly for them.”

DARREN K. INDYKE
5300 W. Atlantic Avenue, Suite 602
Delray Beach, Florida 33484

KKKKEKK KEKE KEKE EEE RK KEKE KEKE KEE KEK KEK EK ERK EEK EK KEE KEKE EK EE KE RK KKK EKER EEK EK EK EE KEE KEK EKER EK EEK EEK EK EE KEE KEK EEE REE EK

The information contained in this communication is confidential, may be attorney-client

HOUSE_OVERSIGHT_023131
"
IMAGES-008-HOUSE_OVERSIGHT_025263.txt,"UK equities

Preference: neutral

FTSE 100 (24 Oct): 5,805 (last publication: 5,768)
UBS View FTSE 100 (6-month target): 5,850
¢ We keep our neutral stance on UK equities. Earnings have continued to disappoint, showing one of the
weakest dynamics within our market universe. Commodity related sectors show steep earnings declines,
which is expected to moderate only in a lagged fashion to stabilizing commodity prices. The Healthcare
sector suffers from company specific issues which affect earnings also negatively.
¢ With the oil price expected to trade down over the next 3 months, earnings of companies in the energy
sector - comprising about 20% of the market — should remain depressed over the coming quarters. Within
financials, law suits related to mis-selling of insurance related products represent a special risk factor.
e Recent strengthening of the British pound is also a headwind for the competitiveness of UK companies,
as earnings measured in the local currency are negatively affected.
¢ The PE of UK equities looks attractive at first sight. But over the past 10 years, UK equities traded on
average at a discount to global equities.

A Positive scenario FTSE 100 (6-month target): 7,000
e A fast strengthening in global growth and recovering demand from emerging markets leads to fast rising
commodity prices, helping the Energy and Materials sectors to lead the market higher. The market could
re-rate to a P/E multiple of 13.0x, and we would expect earnings growth of 5-10% over 12 months.

& Negative scenario FTSE 100 (6-month target): 4,750
¢ A global recession drags UK earnings down by 15-20% over 12 months. The market's traditionally
defensive characteristics would only partly offset its strong exposure to commodity-related sectors. We
would expect the trailing P/E multiple to drop towards 10x.

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 economic development in the

UK. Key date: 1 Nov, PMI manufacturing; 5 Nov, PMI services
Energy and Materials together comprise about 30% of the UK market according

to market capitalization. Developments in commodity prices affect earnings
estimates.

Commodity prices

Policy action Loose monetary policy by the Bank of England supports equities. Key date:

8 Nov, Bank of England policy meeting

2 UBS

Recommendations

Tactical (6 months)

e The UK offers an attractive 4% dividend
yield. We still like companies with high
quality income streams.

e We like Consumer Staples in the UK. The
sector should provide steady earnings
growth through its exposure to
emerging markets.

Strategic (1 to 2 years)

e The UK market's close to 4% dividend
yield provides a good income stream.

e¢ Companies with pricing power are
expected to deliver superior earnings
growth.

UK market trades at a P/E discount,
based on realized earnings

24

2003 2006 2009 2012

— FTSE 100: realized PIE MSCI World: realized PIE

Source: Thomson Reuters, UBS, as of October 24, 2012

Note: Past performance is not an indication of future returns.

For further information please contact ClO asset class specialist Markus Irngartinger, markus.irngartinger@ubs.com 16

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_025263
"
IMAGES-003-HOUSE_OVERSIGHT_014723.txt,"expectations. The divergence between inflation breakevens and real yields seem to
suggest that investors have become more concerned about upside risk to inflation but
downside risk to growth.

Interestingly, this shift in investor sentiment runs counter to incoming data which are
painting a picture of benign inflation but growth acceleration. Indeed, wage growth
remains lackluster while the Fed’s favorite measure of inflation core PCE has slowed to
the lowest level in more than a year (Chart 4). In contrast, both employment data and
survey data suggest economic growth is on a tear (Figure 5). The Atlanta Fed’s GDPNow
model is currently tracking 2.7% GDP growth for Q1.

If it is not the data, what is driving the market’s apparent increased concerns about
stagflation? Whatever these concerned may be, are they justified? We seek to answer
these two critical questions in this report.

Chart 4: Core PCE (3m/3m, SA, AR, %) Chart 5: GDP growth and aggregate hours worked (Q/Q, SA, AR, %)
2.5 R
2.3
4
2.1
1.9
2
1.7
1.5 0
1.3
1.1 2
0.9 Mar-10 Jul-14 Nov-12  Mar-14 Jul-15 Nov-16
0.7
2S®eSOrT THT NNNMMATH HW HW © = eal GDP growth (AR, %)
e¢¢ he 5 heb He Soest FS Sot te tga === aggregate hours worked (AR, %)
SSe2Ze2F8S687Z83323 ——= aggregate hours worked, Jan (AR, %)
Source: BofA Merrill Lynch Global Research Source: BofA Merrill Lynch Global Research

The Trump risk premium

Our informal survey of clients in the past two weeks suggests that stagflation concerns
are being fed by growing pessimism about the new Trump administration. Clients tell us
that their pessimism reflects four main concerns:

Downside risk to growth
1. Many investors are concerned that the new administration will get bogged
down by its promise to repeal and replace Obamacare, resulting in a significant
delay in pushing through fiscal reform

2. This concern is reinforced by the perception that the GOP is divided over the
proposed border adjustment tax (BAT), a key element of the tax reform
proposal

Upside risk to inflation

3. A growing number of investors are worried that potential trade wars with
Mexico and China could lead to tariffs and higher prices

4. Many investors are also concerned that the BAT will force retailers to raise
prices

With many investors having loaded up on Trump trades after the elections (The battle
lines are drawn, January 23, their willingness to continue to give the benefit of doubt to
the new administration appears to be wearing thin. We would advise patience as there

Bankof America <>
Merrill Lynch Cause and Effect | 13 February 2017 3

HOUSE_OVERSIGHT_014723
"
IMAGES-006-HOUSE_OVERSIGHT_021384.txt,"Reflections on Invisible Connections

Echoing a prominent theme in
this volume, Christopher Masi highlights
once again the centrality of social
connectedness for human well-being and
the function of loneliness in signaling a
rupture in a sense of social
connectedness. One might reasonably
expect that a social species like Homo
sapiens would have a sufficiently large
behavioral repertoire to be able to
resolve feelings of isolation and restore a
sense of social connectedness. Although
resolution is accomplished readily in
some instances for some people some of
the time, the reality is that at times
people are at a chronic loss for how to
satisfy their need for social connection.
Unfortunately, the invisible bonds of
social connection are not easily repaired.
We see others’ social activity, but we do
not see how they feel about their social
lives and sense of connection. Despite
our inability to recognize loneliness in
others, or, as Nick Epley and Jean
Decety argued earlier in this volume,
because of this handicap in seeing into
the minds of others, we tend to attribute
to others what we ourselves have felt or
would expect to feel in particular
circumstances. Is it any surprise that we
target for intervention those
circumstances where we observe few
opportunities for social interaction,
inadequate social skills, and poor social
support? On the other hand, because
loneliness is in the mind of the sufferer,
it is perhaps surprising that we would
expect changes in objective social
circumstances to be sufficient to
alleviate loneliness in all its sufferers.
Masi provides a quantitative review of
strategies employed to alleviate
loneliness to show that interventions to
date have been only modestly successful
in reducing feelings of loneliness,

Page |138

attesting to the challenge of effectively
addressing the problem of ruptured
social connections.

Invisibility should not thwart
attempts to alleviate distress, however.
Biological causes of disease were no
more visible or evident in the 18""
century than psychological causes are
today. Yet significant scientific advances
during the 19"" and 20"" centuries
completely revolutionized medical
practice, life expectancy, and quality of
life. Farr Curlin is less interested in the
invisible causes of disease than in the
primordial need for social connection
that John Cacioppo introduced and that
Curlin regards as a preexistent condition
for medicine. If science can be viewed as
a cognitive system that steps us back so
that we can deal more objectively and
effectively with another person’s
distress, then religion can be viewed as a
cognitive system that steps us forward to
connect and care for others. Curlin
argues that the practice of medicine
requires a balance of these forces, and
that the resulting tension between the
two produces better care for the patient
than does the practice of medicine using
either alone.

HOUSE_OVERSIGHT_021384
"
IMAGES-008-HOUSE_OVERSIGHT_025288.txt,"Private equity

Prefer small-/mid-cap buyouts in US/emerging markets;
UBS View distressed debt in Europe
¢ Global M&A volume has continued its downward trend since Q4 2010, falling by -20% quarter-by-quarter
in Q3 2012, with a drastic decline in Europe of -46%, the third lowest quarter since 2001. However, private
equity withstood the negative M&A environment as global activity grew by +13% in Q3, and the US posted
its strongest quarter since Q3 2007. The importance of private equity in emerging markets continues to
grow, now accounting for 13% of global activity, strongly driven by Asia, but increasingly also by Africa.
¢ We prefer buyout strategies in North America, given reasonable valuations, liquid debt markets and our
house view of economic outperformance vs. Europe. Emerging markets offer compelling opportunities for
PE investors, especially outside the main hubs (China, Brazil), which have become expensive. Distressed
strategies which focus on acquiring complex/illiquid loan positions from banks in Europe are also attractive.

4 Positive scenario Prefer small-/mid-cap buyout and secondaries

e An abating Eurozone debt crisis and improved business confidence would increase deal flow and exit
opportunities for private equity managers, but would also increase entry prices. In such a positive scenario,
we would perceive commitment strategies to secondary funds as attractive for building exposure to an
invested private equity portfolio.
& Negative scenario Prefer distressed debt
¢ A renewed escalation of the debt crisis would significantly impact deal activity, the availability of debt
and company owners’ willingness to sell. At the same time, it would offer even more attractive
opportunities within distressed strategies and lower entry prices for long-term private equity investors.
Note: Scenarios refer to global economic scenarios (see slide 7)

What we're watching Why it matters

Credit markets In H1 2012, leveraged loan issuance, an important ingredient of PE activity,
dropped 17% y/y in the US, but over 41% in Europe. The US debt market is
much deeper than Europe, raising over EUR 153bn of leveraged debt, while
Europe achieved only EUR 16bn in 1H 12 at less attractive conditions.

Exit activity Exit activity is an important indicator for the health of the PE market and a key
return driver for investors. Despite the difficult macro environment,
distributions from portfolio sales (USD 69bn) have held up, and grew 20% yoy.

Sector activity Transactions in consumer discretionary and in energy & utilities remain the
most preferred sectors for private equity investors in 2012.

Recommendations

Strategic (1 to 2 years)

e In Europe, the ongoing deleveraging has
led to attractive opportunities for special
situations. We thus recommend pursuing
less liquid investment strategies with a
preference for debt to benefit from the
macroeconomic adjustment process and
selling pressure for many European banks.
We prefer small-/mid-cap buyouts in North
America given the better economic
outlook vs. Europe, higher transaction
certainty and more attractive entry prices.
Investors looking for downside protection
during economic uncertainty can consider
large-cap buyouts in the US, which offer
exposure to large, diversified companies
at more attractive prices and are
supported by liquid debt markets.

We advise investors make an ongoing
allocation to private equity in emerging
markets, which offer an attractive way to
capture superior long-term growth and
gain access to small-/mid-cap companies
unavailable on the stock market.

The US has seen its strongest quarter since
Q3 2007, while sentiment in Europe remains
weak

USD billions

Qi Q2 Q3 Q4 Qi Q2 Q3 4 Q1 Q2 Q3
2010 2010 2010 2010 2011 2011 2011 2011 2012 2012 2012
— US Europe RoW
Source: S&P, UBS CIO, as of Octeber 2012
Note: Past performance is not an indication of future returns.

For further information please contact CIO's asset class specialist Stefan Bragger, stefan.braegger@ubs.com

UB S Please see important disclaimer and disclosures at the end of the document. 41
Note: We emphasize the equal importance of fund manager selection and the commitment strategy. Please note that private equity is an illiquid asset class and must be held at least until the end of the fund (10+ years).
Please note that UBS might not have a product available which reflects our UBS CIO private equity recommendations. Private equity is only suitable for qualified investors (> USD 5m investable assets).

HOUSE_OVERSIGHT_025288
"
IMAGES-003-HOUSE_OVERSIGHT_014910.txt,"GrubHub (Buy, $49 PO)

Stock view: Marketing ramp should drive diner growth re-acceleration

In recent quarters, GrubHub has been leveraging a series of recent investments,
including expanded delivery, more restaurants on the platform, repositioned brand
driving more effective advertising, and product optimization, which is driving higher
conversion rates. We think GrubHub is well-positioned to continue to leverage these
investments to drive growth in 2017 and beyond.

GrubHub’s delivery business is reaching scale in more markets, and delivered gross food
sales run-rate increased from $500mn in 3Q to nearly S600mn in 4Q (20% of ’16 food
sales). Delivered orders were 40% higher than in 3Q. We think delivery will continue to
drive take rate higher and be EBITDA accretive by YE17 as efficiencies are gained.

Competition remains a key concern for investors and weighs on sentiment. However, we
believe that GrubHub’s user base is sticky and its repeat order rate (>90%) is defensible.
In 2016, as UberEats, Amazon Prime Now, DoorDash, and Postmates invested in
expansion, GrubHub’s active diner growth and order growth remained solid. Google
Trends indicates that over the past 12 months, though competitors have expanded to
more cities in the US, GRUB remains the overwhelming leader in the market, with both
of its core brands (GrubHub and Seamless) many times the size of any of its
competitors.

GrubHub 1Q results may also face a modest growth headwind from warmer weather in
key markets like NYC and Chicago. For context, in 4Q15, GrubHub called out warmer
weather was a 200bps y/y order growth drag (~$2mn in revenue, $12.7mn in gross food
sales). Warmer weather can impact order volume and new diner growth, though new
diners can partially shift to 2Q. We forecast 26% y/y gross food sales and 36% y/y
revenue growth in 1Q’17.

We think active diner growth will accelerate in 2017 as the company invests more
heavily in marketing and it comps out against its “quality over quantity” marketing
Strategy started in 1Q16. Investors, however, should expect that accelerating active
diner growth will be counterbalance by lower order frequency as newer diners to the
system tend to order less frequently. At the same time, we expect take rate will
continue to expand as the delivery business grows.

Key theme/metric(s) for 1Q: gross food sales growth

We forecast gross food sales growth in 1Q of 26%, a modest deceleration from 27% in
40 (flat with 4Q less the 1% hit from the lack of Leap Day in 1Q17}. Though we think
there is likely upside to our forecast given a 500bps easier y/y comp in 1Q vs. 4Q. We
expect 1Q active diner growth of 25%, Grubs per Diner decline of 3%, and average order
size growth of 5%.

Biggest 1Q issues/risks:

« Despite positive Google Trends data and commentary from management, mounting
competition eats away at GRUB’s growth and take rate, driving diner acquisition
costs higher.

e Warmer weather during 1Q, particularly in GrubHub’s core NYC and Chicago
markets, may be a headwind to growth.

« RDS (restaurant delivery service) investments weigh on earnings at a rate higher
than the $3mn in EBITDA drag that we have in our model for 1Q’17.

e Site and conversion rate improvements turn out to be one-time in nature rather
than an ongoing, longer-term focus for management.

24 Internet/e-Commerce | 06 April 2017 Bankof America <2
Merrill Lynch

HOUSE_OVERSIGHT_014910
"
TEXT-002-HOUSE_OVERSIGHT_033369.txt,"From: Richard Kahn 
Sent: 6/13/2019 2:49:13 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Trump financial disclosure 
Importance: High 
Catching up on some reading and finally read trumps 100 pages of nonsense. Some interesting findings: 
1) foundation is inactive 
2) ironic that starett city largest federal subsidized housing project which trump had 4 percent interest was 
finally sold while he is president. 
https://www.google.com/amp/s/www.bizjournals.com/newyork/news/2018/05/09/starrett-city-sells-giving-
trump-a-profit.amp.html  
3) other than doral and post office hotel no substantial income from any of his enties that he showed.. 
4) 30 pages of stock purchases and sales all 5-15k. 
5) cash in his name 25mm or less 
6) still has money in revocable trust from his father at jpm 1-5mm 
7) claims to have as much as 125mm in trump revocable trust at cap one, professional bank, signature bank and 
bank United but can be as little as 40mm it mins were real numbers. 
Didn't he once say he say he had billions of liquidity.. 
8) valued planes from 56 to over 86mm. Down from 300mm on earlier disclosures.. 
9) Bank used for last mortgage on ocean drive purchase is a coral gables bank that is opening in boca as well. 
https://www.cnbc.com/amp/2019/05/16/read-president-donald-trumps-financial-disclosure-report.html  
https://myprobank.com/  
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue, 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033369 
"
IMAGES-010-HOUSE_OVERSIGHT_030459.txt,"Interviews Editor,
Today Programme,
BBC News

nob) as
[cid:image001.png@01CBDCB9.639DD660]

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.

3s 2fe 2s 24s 2s 2s 24s 5s 2fe 2s fe 2s 2 2s ois 2fe ois fe fs 2s 2c ois 2fe ois fe 2s fs ofc ois 2fe ois fe fs fs 2c ois 2fe ois 2fe ois fe 2s ois 2fe ois 2fe ois fe 2c ois 2s ois 2fe ois oie 2s ois 2 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 <mailto:jeevacation@gmail.com >, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030459
"
IMAGES-001-HOUSE_OVERSIGHT_011041.txt,"as the sum of growth and cash flow, and specifically negative unrealized output.

Then

deadweight loss = unrecovered decapitalization
= negative output
= negative unrealized output
= max (0, - output)

= max (0, - unrealized output). (6.10)

Also
positive unrealized output = max (0, proprietary output), (6.11)

and
output = unrealized output + realized output. (6.12)

The Growth Truism

In general,
growth = capitalization from outside + capitalization from inside
- decapitalization. (6.13)
Here

capitalization from outside = negative cash flow = transfer in, and
capitalization from inside = positive unrealized output + plowback.

Also
decapitalization = recovered decapitalization + unrecovered decapitalization
= recovered decapitalization + deadweight loss.
Then

growth = transfer in + positive unrealized output + plowback
— recovered decapitalization - deadweight loss, (6.14)

or more simply

Chapter 6: Parallels with the Firm 2/4/16 7

HOUSE_OVERSIGHT_011041
"
IMAGES-005-HOUSE_OVERSIGHT_020222.txt,"70

CHAPTER EIGHT
Hacktavist
. “When you gaze long into an abyss the abyss gazes into you”. ~ Friedrich Nietzsche

By 2012, the alienated hacktavist battling to unlock the secrets of evil corporations and
governments had become a stock hero of popular culture. For example, in the prize-winning Gir/
with the Dragon Tattoo trilogy by Stieg Larsson, which sold 90 million copies, the heroine, a self-
educated hacker in her twenties named Lisbeth Salander steals incriminating documents from
computers that provides journalist Mikael Blomkvist with scoops that save the progressive
magazine he edits from bankruptcy. Her sociopathic behavior, which includes embezzling
millions of dollars, extortion, maiming and murder, is accepted by the journalists at the magazine
because her hacking exposes crimes and abuses of power. In the realm of non-fiction universe,
hacktavists also use their skills to attempt to redress perceived abuses of power, For example in
December 2010, the group “Anonymous,” whose members called “Anon” often wear Guy
Fawkes masks resembling those worn in the 2006 movie V Js For Vendetta, launched a successful
denial of service attack called “Operation Avenge Assange,” It was aimed at paralyzing
companies, including PayPal and MasterCard that refused to process donations for Wikileaks
because these “anons” believed that these companies were stifling the freedom of the Internet by
hindering the money flow to Wikileaks. Since hacktavists often use illicit means to redress their
grievances, such denial of service attacks, theft of passwords and hacking into computers, they
must conceal their true identities to avoid the retribution of the FBI and other law enforcement
agencies. This requires them to operate on the dark side of cyber space which has become known
as the dark net. | Fortunately for hacktavists, the dark net is accessible to anyone.

It is a place frequented by those that want to avoid laws, regulations and government
surveillance. Its denizens include cyber saboteurs, industrial spies, purveyors of illegal contraband,
spammers, pranksters, identity thieves, video pirates, bullies, slanderers, drug dealers, child
pornographers, money launderers, contract killers, inside traders, anarchists, terrorists, and the
intelligence services of many countries.

Sue Halpern writing about it in the New York Review of books noted: “My own forays to the
dark Net include visits to sites offering counterfeit drivers’ licenses, methamphetamine, a template
for a US twenty-dollar bill, files to make a 3D-printed gun, and books describing how to receive
illegal goods in the mail without getting caught. There were, too, links to rape and child abuse
videos “

To operate effectively on the dark net, a mask of anonymity is often necessary. But it is not
easy to completely hide enes tracks in cyber space. The way that the Internet ordinarily works is
that whenever an individual sends emails, instant messages, or visits a websites, his or her identity
can be referenced by the IP address assigned to him or her by their internet service provider.

The problem is that if dark side users’ IP address is discoverable, they obviously cannot remain

HOUSE_OVERSIGHT_020222
"
IMAGES-002-HOUSE_OVERSIGHT_012928.txt,"12 1 Introduction

group. One of the key ideas involved in this project is explicit integration of subsymbolic and
more symbolic subsystems. For instance, one can use a purely subsymbolic, hierarchical pattern
recognition network for vision processing, and then link its internal structures into the nodes
and links in the AtomSpace that represent concepts. So the subsymbolic and symbolic systems
can work harmoniously and productively together, a notion we will review in more detail in
Chapter 26.

1.9 Language Learning

One of the subtler aspects of our current approach to teaching CogPrime is language learning.
Three relatively crisp and simple approaches to language learning would be:

e Build a language processing system using hand-coded grammatical rules, based on linguistic
theory;

e Train a language processing system using supervised, unsupervised or semisupervised learn-
ing, based on computational linguistics;

e Have an AI system learn language via experience, based on imitation and reinforcement and
experimentation, without any built-in distinction between linguistic behaviors and other
behaviors.

While the third approach is conceptually appealing, our current approach in CogPrime (de-
scribed in a series of chapters in Part 2) is none of the above, but rather a combination of the
above. OpenCog contains a natural language processing system built using a combination of
the rule-based and statistical approaches, which has reasonably adequate functionality; and our
plan is to use it as an initial condition for ongoing adaptive improvement based on embodied
communicative experience.

1.10 AGI Ethics

When discussing AGI work with the general public, ethical concerns often arise. Science fic-
tion films like the Terminator series have raised public awareness of the possible dangers of
advanced AGI systems without correspondingly advanced ethics. Non-profit organizations like
the Singularity Institute for AI ( (http://singinst.org) have arisen specifically to raise attention
about, and foster research on, these potential dangers.

Our main focus here is on how to create AGI, not how to teach an AGI human ethical
principles. However, we will address the latter issue explicitly in Chapter 12, and we do think it’s
important to emphasize that AGI ethics has been at the center of the design process throughout
the conception and development of CogPrime and OpenCog.

Broadly speaking there are (at least) two major threats related to advanced AGI. One is
that people might use AGIs for bad ends; and the other is that, even if an AGI is made with
the best intentions, it might reprogram itself in a way that causes it to do something terrible.
If it’s smarter than us, we might be watching it carefully while it does this, and have no idea
what’s going on.

HOUSE_OVERSIGHT_012928
"
IMAGES-005-HOUSE_OVERSIGHT_018965.txt,"Date: 7/13/06 PALM BEACH POLICE DEPARTMENT
Time: 9:27:55 Incident Report Program: CMS301L
Case No. .. . : 1-05-000368 inued)
her sister [| resides with Both [ and are
currently attending school, which is an -

involuntary admitted juvenile educational facility. [____|stays at the b7c
facility during the week and comes home on the weekend. According to
en she was admitted to the school because of disciplinary

problems that recently escalated. The facility also coordinates with

the families to provide one on one as well as family counseling.

According to she believes the incident occurred on
Sunday, Feb 6, 2005. A friend of[_____] named QJ picked her up at
their house and left. They believe BE initiated the relationshi
with the older gentleman, though they do not have any proof. a
lives close by with her mother. further explained that
was introduced toil by a_ boy she was dating
(goes to plays baseba . continued
that on Sunday, MBB picked up[___] and drove to Palm Beach where
they met the man. Supposedly, the man has a lot of money and often
has young girls come over to his house. Haley offers these girls a

way to make fast cash. The man starts with a _ massage. If he likes
them, he keeps them_around and does more. The did not have
any information on MBB other than she lives on the

last house on right side (north side).

talked of a_conversation that she had with
the mother of [ a former friend o She
found it strange that they were no longer friends until she received

the call from her mother telling her of the conversation she overheard
between[__] and a boy named

told me of an incident that occurred on 02/09/2005.
got into a fight at school Assistant
Principal, found over $300.00 in purse. gave different

explanations for the large sum of money. Initially the school
administration thought it was drug related but then dismissed the
claim. Since that day,[___]did not return to school; she ran away.
Thursday, 02/10th or Friday 02/11 and returned to her mother's house
later that night after midnight. It was_not until after

received the call from mother,

‘that she learned was the girl that got into the
fight with The fight was instigated when[__Jaccused[____ J of
being a prostitute.

a who has legal joint custody of his daughter[__|
signed the affidavit of prosecution indicating he wished to
prosecute against the inappropriate sexual behavior with his
fourteen-year-old daughter.

stated that he had no objections with our agency speaking
with his daughter about the incident. [L___—Csé—C;C*Cé‘édSttUAted that
mother is aware of the allegations and also was willing to
cooperate. According to[________—idW shee does not believe her
daughter had any additional contact with the suspect as she was with

~ HOUSE_OVERSIGHT_018965

"
IMAGES-010-HOUSE_OVERSIGHT_029108.txt,"From: Larry Summers

Sent: 10/27/2017 2:59:48 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Trending Now: Friends for three decades, Trump whisperer says he is ‘stunned’ by president’s rhetoric

Importance: — High
Was there. Spoke well. Spent time w Softbank deputy Najeev or some such PIF guy too.
Flying back.

How is life among the lucrative and louche?

Sent from my iPad

Please direct all scheduling inquiries to my office at: re

Follow me on twitter @lhsummers
www.larrysummers.com

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

Sent: Friday, October 27, 2017 6:51 PM

Subject: Re: Trending Now: Friends for three decades, Trump whisperer says he is ‘stunned’ by president’s
rhetoric

saudi?

On Wed, Oct 11, 2017 at 11:04 AM, Lawrence Summers fii wrote:

Your pal should stay out of press.

Public link to manafort will be a disaster.
This is a staggering shit show.

Sent from my iPad

Please direct all scheduling inquiries to my office |

Follow me on twitter @lhsummers
www.larrysummers.com

a--------- Forwarded message ----------

From: ""The Washington Post"" <email@e.washingtonpost.com>

Date: Wed, Oct 11, 2017 at 9:04 AM -0400

Subject: Trending Now: Friends for three decades, Trump whisperer says he is ‘stunned’ by president’s
rhetoric

HOUSE_OVERSIGHT_029108
"
IMAGES-002-HOUSE_OVERSIGHT_014381.txt,"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 under-
performance, 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&l 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.

Bankof America

Merrill Lynch 2016 Future of Financials Conference | 17 November 2016 67

HOUSE_OVERSIGHT_014381
"
TEXT-002-HOUSE_OVERSIGHT_032711.txt,"From: Michael Wolff 
Sent: 1/8/2018 10:57:20 AM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Re: 
Importance: High 
Up? 
On Sun, Jan 7, 2018 at 9:37 PM jeffrey E. <jeevacation@gmail.com> wrote: 
212 772 9416 
On Sun, Jan 7, 2018 at 7:46 PM, Michael Wolff wrote: 
Just his plan. Trump is going to go down--why doesn't use this opportunity to strike out on his own? Also, 
gently imply I have tapes. I wonder, btw, if he isn't interested in talking to you about in fact bringing down 
Trump. Can't wait to hear? 
On Sun, Jan 7, 2018 at 7:31 PM jeffrey E. <jeevacation@gmail.com> wrote: 
I didn't offer him a time yet . As I need my marching orders;) 
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 lab. 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 032711 
"
IMAGES-011-HOUSE_OVERSIGHT_032161.txt,"Econet Wireless was established in 1998, but not before a fight. Masiyiwa waged a five-year
legal battle with the government for a licence to deliver telephone services. The company
now operates in 17 countries including Botswana, Lesotho, Kenya, Nigeria, South Africa and
New Zealand. In 2000, while the UN filed a civil suit against Mugabe, Masiyiwa moved his
family and company headquarters to South Africa. Econet Wireless first developed mobile
payments to help NGOs transfer money to refugees after the war in Burundi ended in 2005.
“Donor agencies were trying to find ways to make cash disbursements to refugees,” says
Masiyiwa. “So we built the payment system initially not as a business but as a way to help
humanitarians get money to people in rural areas who were trying to re-establish their lives.”

That model was extended and now mobile money transfers are central to Econet Wireless’s
business. Like M-Pesa before it, the company blurs the lines between telecomms and
banking. Masiyiwa is passionate about this latter part of his business. He believes that
extending saving and credit services to the poorest people gives them “extraordinary dignity
and a sense that they are in control of their own lives”. His next challenge is to create a
product that allows people who are informally employed, such as smallholder farmers and
casual workers, to access credit. “In Africa 70% of people are informally employed,” he says.
“The big frontier for us is to create platforms where those people can access credit.” He says
there’s no risk that they will get into unmanageable debt because the banks won’t extend
excessive credit, calling the system “self-regulating”.

But Masiyiwa says that offering people the ability to save is even more important than credit.
“We're trying to build up a savings culture where people are encouraged to save, even if
they only have a dollar — for children’s school fees, for transport, for the doctor. A savings
and credit infrastructure builds resilience.” In his speech to microfinance experts at the
symposium in Turin, Masiyiwa recounted a story about the judge in Zimbabwe who granted
Econet Wireless’s licence in 1998, saying that 70% of people in the country had never heard
a telephone ring. “Today, 75% of people [in Zimbabwe] have a cell phone,” he said “And |
want 75% of the people in Africa to have a bank account ... on a mobile phone.”

And Masiyiwa has even found a solution to the energy problem that could prevent him from
realising his dream. “We have developed solar charging stations where people can go into a
kiosk and plug in their phone for free. Because our money is not made from someone
charging the phone. It’s made from someone using the phone.” By way of lessons learnt,
Masiyiwa says that in order to reach the unbanked, financial institutions — and
telecommunications companies — must design services that are practical, simple and
affordable. “I’ve got a customer who has a dollar in his pocket and has got to decide to have
some lunch, call his cousin or go to the doctor. We have to develop services with sensitivity
to the fact that in Africa our customers don’t have the same disposable income as in New
Zealand, for example.”

But the billionaire businessman cautions that it’s a mistake assume the poorest behave
differently to other customers. “Their behaviour and aspirations are no different from those
who have higher incomes,” he says. “They want to use Facebook. They want to use
WhatsApp. We have to find ways for them to access those things with their very low
income.”

HOUSE_OVERSIGHT_032161
"
IMAGES-002-HOUSE_OVERSIGHT_013388.txt,"IV. EDWARDS IS ENTITLED TO ADVERSE INFERENCES FROM
EPSTEIN’S INVOCATION OF THE FIFTH AMENDMENT AND
THEREFORE TO SUMMARY JUDGMENT ON EPSTEIN’S CLAIM,

Edwards is entitled to summary judgment on the claim against him for a second and
entirely independent reason: Epstein’s repeated invocations of the Fifth Amendment raise
adverse inferences against him that leave no possibility that a reasonable factfinder could reach a
verdict in his a In ruling on a summary judgment motion, the court must fulfill a
“paldkeeping function” and should ask whether “a reasonable trier of fact could possibly” reach
a verdict in favor of the plaintiff. Willingham v. City of Orlando, 929 So.2d 43, 48 (Fla. 5"" Dist.
Ct. App. 2006) (emphasis added). Given all of the inferences that are to be drawn against
oe no reasonable finder of fact could conclude that Epstein was somehow the victim of
improper civil lawsuits filed against him. Instead, a reasonable finder of fact could only find that
Epstein was a serial molester of children who was being held accountable through legitimate
‘suits brought by Edwards and others on behalf of the minor girls that Epstein victimized.

“[I]t is well-settled that the Fifth Amendment does not forbid adverse inferences against
parties to civil actions when they refuse to testify in response to probative evidence offered
against them.” Baxter v. Palmigiano, 425 U.S. 308, 318 (1976); accord Vasquez v. State, 777
So.2d 1200, 1203 (Fla. App. 2001). The reason for this rule “is both logical and utilitarian. A
_ may not trample upon the rights of others and then escape the consequences by invoking a
coristitutional privilege — at least not in a civil setting.” Fraser v. Security and Inv. Corp., 615
S0.2d 841, 842 (Fla. 4"" Dist. Ct. App. 1993), And, in the proper circumstances, “’Silence is

often evidence of the most persuasive character.’” Fraser v. Security and Inv. Corp., 615 So.2d

19

HOUSE_OVERSIGHT_013388
"
IMAGES-001-HOUSE_OVERSIGHT_011727.txt,"“It’s the opposite in this case,” I replied. “In a battle, the enemy is doing
everything it can to stop you. When you break through, it’s against their
resistance. Here, the other side will choose to make it easiest for us in the place
it prefers. If Arafat thinks he’ll get more from the Bear and the Mouse than from
the other talks, it’s hardly a surprise we’re finding that only Oslo seems to offer
a way forward.”

Rabin did make one more move, not so much in a bid to end the talks in Oslo
as to slow them down and create a context more favorable for the kind of
agreement he wanted. He shifted his attention to his original peacemaking
priority: the Syrians. In an effort to remove a roadblock to even beginning
serious talks, he offered the Americans what they would later call his “pocket
deposit.” He authorized Secretary of State Warren Christopher to tell Assad that
Washington’s understanding of our position was that, assuming all our own
negotiating concerns were addressed, we accepted that peace with Syria would
include withdrawing from the Golan. The formula was agreed in a meeting in
Israel between Rabin and the Clinton Administration’s Middle East negotiator,
Dennis Ross. Rabin didn’t tell Peres or other ministers about it, though Itamar
Rabinovich did know. I did as well. Since acceptance of the need for a
withdrawal had security implications, Rabin and I talked about it in detail
before Ross’s visit. We formulated the “deposit” together. We used an English
acronym: IAMNAM, “if all my needs are met.” The point was to convey to the
Syrian president that if he addressed our requirements for a demilitarized zone
and early warning facilities; non-interference with our critically important water
sources; as well as a full peace including embassies, open borders and joint
economic projects, we knew the trade-off would be to return the Golan.

It was by diplomatic accident that the Syrian overture went nowhere. The
reason even the Americans had called our proposal a “pocket deposit” was that
it was to be kept in the Christopher’s pocket, to be pulled out as an American
understanding of our position if he felt it might lead to a breakthrough. Our
intelligence accounts of the Christopher-Assad talks, however, suggested it had
been presented as a straight message from Rabin to the Syrian president, giving
it the status of Israel’s new, formal opening position in negotiations.

The distinction may seem minor. But for Israel, it mattered greatly. In any
agreement with Syria — or, indeed, the Palestinians — there was bound to an
imbalance. Both parts of a “land-for-peace” exchange were important. But land
was not just the more tangible asset. Once given up, short of resorting to all-out
war, there was no going back. The “peace” part of the equation was more

256
HOUSE_OVERSIGHT_011727
"
TEXT-001-HOUSE_OVERSIGHT_029837.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 4/28/2016 4:39:12 PM 
To: Alan M. Dershowitz ; Roy Black ; Jack Goldberger 
Subject: Fwd: Reuters / lawsuit against Jeffrey Epstein 
Attachments: katie johnson v trump complaint.pdf 
----------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> 
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 
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 029837 
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 029838 
"
IMAGES-010-HOUSE_OVERSIGHT_028570.txt,"12 JAM v. INTERNATIONAL FINANCE CORP.

BREYER, J., dissenting

A

The “commercial activity” exception to the sovereign
immunity of foreign nations is broad. We have said that a
foreign state engages in “commercial activity” when it
exercises “‘powers that can also be exercised by private
citizens.” Republic of Argentina, 504 U.S., at 614. Thus,
“a contract to buy army boots or even bullets is a ‘commer-
cial’ activity,” even if the government enters into the
contract to “fulfil[l] uniquely sovereign objectives.” IJbid.;
see also H. R. Rep. No. 94-1487, p. 16 976) [A] transac-
tion to obtain goods or services from private parties would
not lose its otherwise commercial character because it was
entered into in connection with an [Agency for Interna-
tional Development] program’).

As a result of the majority’s interpretation, many of the
international organizations to which the United States
belongs will discover that they are now exposed to civil
lawsuits based on their (U. S.-law-defined) commercial
activity. And because “commercial activity” may well have
a broad definition, today’s holding will at the very least
create uncertainty for organizations involved in finance,
such as the World Bank, the Inter-American Development
Bank, and the Multilateral Investment Guarantee Agency.
The core functions of these organizations are at least
arguably “commercial” in nature; the organizations exist
to promote international development by investing in
foreign companies and projects across the world. See Brief
for International Bank for Reconstruction and Develop-
ment et al. as Amici Curiae 1—4; Brief for Member Coun-
tries and the Multilateral Investment Guarantee Agency
as Amici Curiae 13-15. The World Bank, for example,
encourages development either by guaranteeing private
loans or by providing financing from its own funds if pri-
vate capital is not available. See Articles of Agreement of
the International Bank for Reconstruction and Develop-
ment, Art. I, Dec. 27, 1945, 60 Stat. 1440, T. 1. A. S. No.

HOUSE_OVERSIGHT_028570
"
IMAGES-009-HOUSE_OVERSIGHT_027968.txt,"Dado sat me down and filled me in on what was obviously a changing situation.
He said the terrorists had allowed the pilot, Reginald Levy, to come see Dayan
and press their demands. He had brought with him a slab of light-yellow
material to demonstrate the seriousness of the risk of saying no. When tested, it
turned out to be exactly what the hijackers said it was: plastic explosive.

The pilot said there were four terrorists: two men with pistols and two
women with explosives and grenades. There were 95 passengers and seven
crew. He’d also confirmed that none of the exits above the wings was blocked
by a passenger seat. He’d returned to the plane without any clear answer from
Dayan on the prisoner release. But before leaving, he revealed that his own wife
was among the passengers. He asked Dayan to promise that Israel would help
care for their daughter if the hijack ended tragically.

By the next morning, that was looking more and more likely. Though the
hijackers were still in contact with the tower, the only visible movement was the
arrival of a representative of the Red Cross. The lead hijacker, who called
himself Captain Rifa’at, was making increasingly forceful demands for the
prisoner release. Our negotiating team did its best to buy time by giving the
appearance we were considering the demand. It was Dayan who came up with
the idea of going further. He told Rechavam Ze’evi, as the head of the central
command area, to begin rounding up hundreds of young Israeli reserve soldiers.
He wanted them dressed them in prison uniforms, and then bused to the airport,
within sight of the hijacked jet. Dayan also arranged for another Boeing 707,
ostensibly to take the “freed prisoners” on to Cairo.

“What then?” Ze’evi asked Dayan. “We’re not really going to put them on a
plane and take off!”

It was after he’d had no real reply that he in effect answered his own
question, inadvertently leading us to the idea of attempting a daytime attack
after all. Talking to Dado and me, he said: “Since we’re going to such lengths to
deceive them, why not just add another layer? Why can’t Ehud’s people take the
role of the airport mechanics?” Looking at each other, Dado and I realized it
was a stroke of brilliance. Dado went to share the plan with Dayan, confident
that he would be no less enthusiastic, which he was. I remained with Ze’evi and
his deputy to work out the details. We agreed they would take care of the
pantomime with the prisoners, as well arranging for El Al to get us the ladder
trucks that airline maintenance crews used, which would allow us access to the
Sabena jet’s front and rear doors as well. That left me free to concentrate on
preparation and training.

120
HOUSE_OVERSIGHT_027968
"
IMAGES-008-HOUSE_OVERSIGHT_024828.txt,"COWEN
COLLABORATIVE INSIGHTS

12

February 25, 2019

will be destroyed.) Seeds that are certified (sold by domestic and international
hemp seed distributors) contain </=0.3% THC or produce hemp with </= 0.3%
THC.

CBD is more concentrated in female flowers (3%-6%) compared to male
flowers making male seeds unwanted. Unfertilized female flowers have been
found to produce higher CBD levels than female flowers fertilized by male
plants making male seeds unwanted in a production field. We note that seed
mix (male and female) costs are significantly lower than feminized seed costs
(incremental work is needed to increase the supply of feminized seeds).

Conversations with industry participants indicate that clones (first grown in a

greenhouse and then transplanted to the field) are becoming more common as
they provide a cheaper path to all female flowers in the field. Retail clones can
cost $4-$7 each and can be produced for $3 each with access to a greenhouse.

Test soil for contaminants. We note soil that has been used for corn production
has been cited as supportive for maximizing hemp yields.

Water System Installation. A drip irrigation is most effective way to water
hemp as it allows roots to breathe and conserves the most water.

Pesticides: Currently, pesticides are illegal for industrial hemp cultivation
which makes plastic mulch an important step. So far, disease pests and insects
have not been found to significantly impact yields.

Fertilizer. Fertilizer requirements similar to wheat are considered adequate
with nitrogen the most critical.

Planting. Adequate soil moisture and temperature (>/=50°F), which influences
timing for planting, is recommended for successful germination. Industrial
hemp can be planted in late April in Kentucky and late June in Vermont.
Planting depth for seeds should be ~0.50 inches.

Female seedlings, started in a greenhouse approximately 6 weeks prior to
planting, or transplanted female clones (planted with root structure), can be
planted into black plastic outdoors to control weeds. 5 ft x 5 ft plant spacing
has been found to be ideal and results ina population of 1,742 plants per acre.

Harvest. Average time to harvest a 6 inch clone is 90-120 days, Flower buds
from outdoor plants are removed by hand or using a debudder machine after
using a chainsaw or lopper to cut the plant down. Flower bud harvest is labor
intensive and can take ~30 hours per acre. Flower buds in a UVM study were
dried at 80°F for 18-36 hours until dry enough for storage without molding.
Indoor storage requirements creates a production challenge. As with most
crops, variations in yield can result from variations in genetics (variety), soil,
weather, and other growing conditions.

Testing. State Departments of Agriculture conduct field and greenhouse
inspections for THC levels, which is the only way to separate hemp from illegal
cannabis. Crops that test >0.3% THC will be destroyed.

COWEN.COM

HOUSE_OVERSIGHT_024828
"
IMAGES-011-HOUSE_OVERSIGHT_030776.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

HOUSE_OVERSIGHT_030776
"
IMAGES-007-HOUSE_OVERSIGHT_023864.txt,"1718 Teaching Minds

The way to do this is to look at processes that children engage
in during the course of their daily lives and have them first explain
how and why the processes work and then try to improve upon them.
They could carefully examine the operations of the school cafeteria,
for example. Of course, this has to be done in line with the interests
that the children actually have. The idea is building the model, not
telling them what models they have to build. Every child has an inter-
est—animals, sports, family, cars, dinosaurs, whatever. Children need
to learn to model the processes that interest them in order to better
understand them and to make them better. Children will learn about
the modeling process from working on a car engine, for example, if
they are taught to think about what is going on in a deep way rather
than just learning a set of facts about how the car runs. This is true in
any area of interest, from medicine to government to science.

Adults have a difficult time with models at work, as citizens, at
home, and so on. They don’t always know how things really work. To
get people to be better at understanding the processes that they en-
gage in daily life, they need to be able to model them. This ability has
to be taught and practiced early..

Of course, kids have been building models of actual objects for a
long time. Using a kit to build a model airplane is fun but it doesn’t
teach you much about how planes fly. More detailed models of physi-
cal objects are very helpful.

Building a medieval castle, for example, sounds like fun to me,
and there are things to be learned from doing this, of course. It is a
good activity for little kids, but modeling involves social processes as
well. Kids need to understand how the world works, so it isn’t the
castle itself that is so important but perhaps a model of the society
around the castle, and the need for the castle, that would matter in
this instance.

HOW TO TEACH EXPERIMENTATION

Everyone experiments all the time. We eat foods that we hope won’t
make us fat or might make us healthy. We take drugs that are supposed
to help us, and maybe they do maybe they don’t. We try out relation-
ships that may or may not work. We experiment with jobs, hobbies,

HOUSE_OVERSIGHT_023864
"
IMAGES-011-HOUSE_OVERSIGHT_031468.txt,"New York Times

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

HOUSE_OVERSIGHT_031468
"
IMAGES-004-HOUSE_OVERSIGHT_017979.txt,"tein manipulated the system | Miami Herald Page 16 of 17

Sarah Kellen, who used the name Kensington for a while, is now married to NASCAR driver Brian Vickers. The couple divides their time between homes

in North Carolina, New York and Miami Beach.

NASCAR driver Brian Vickers and his wife, Sarah, take part in pre-race ceremonies in Sparta, Ky., on June 28, 2014. She was known as Sarah Kellen when she was an aide to
Jeffrey Epstein. According to police, she scheduled visits of underage girls to Epstein’s Palm Beach estate for massages that turned sexual. She was not charged with a crime. Will
Schneekloth GETTY MAGES

Maxwell, 56, transformed herself into an internationally known environmentalist. In 2012, she founded the TerraMar Project, a nonprofit environmental
group that works to protect the world’s oceans. In 2013, she gave a TED Talk on ocean conservation, discussing her diving expeditions around the world.

Dershowitz, 80, continues to lecture around the country. A professor
emeritus at Harvard Law School, Dershowitz has been a frequent
commenter on cable TV programs, often defending President Trump.

Prince Andrew, the Duke of York, 58, remained friends with Epstein, and in
2010, a photograph was taken of the two of them strolling in Manhattan. It
was later revealed that Epstein had loaned the prince’s ex-wife, Sarah
Ferguson, $24,000 to pay off some debts. Ferguson later called the loan a
“gigantic error of judgment.”

Plain human beings

Crime victims’ rights advocates have used the Epstein case to strengthen the
federal law in recent years, adding more precise language mandating that
prosecutors notify victims about plea bargains and allow victims to be heard

at sentencing.

Because some statute-of-limitation laws set deadlines for filing civil and
criminal sex crime cases, it’s difficult to bring them years later, said Marci

Hamilton, a University of Pennsylvania professor who is working to ease

https://www.miamiherald.com/news/local/article2 19494920 html 4/3/2019
HOUSE_OVERSIGHT_017979
"
IMAGES-006-HOUSE_OVERSIGHT_020924.txt,"Effective Interest Rates: But Cost of Debt Unlikely to Continue to Decline

For Extended Period If Economy Improves

USA Federal Debt Weighted Average Yields, 1980 — 2010

30-Year Average Yield

Weighted Average Treasury Yields (%)

0% . T T T T T T T T T T
1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010

KP Source: US Treasury.
i USA Inc. | Income Statement Drilldown 165

Effective Interest Rates: If Debt Levels & Interest Rates Rise Dramatically

Beyond 2010, Net Interest Payments Could Soar...

USA Federal Net Debt Outstanding / Effective Interest Rates / Net Interest Payments, 2009 — 2016E

11-16E
2009 2010 2011E 2012E 2013E 2014E 2015E 2016E CAGR
Net Debt Outstanding ($B) $7,545 $9,019 $10,856 $11,881 $12,784 $13,562 $14,301 $15,064 7%
Y/Y Growth 30% 20% 20% 9% 8% 6% 5% 5%
Effective Interest Rate (%) 2.5% 2.2% 1.9% 2.0% 2.5% 3.1% 3.5% 3.7% -

Net Interest Payments ($B)

Y/Y Growth
% of Federal Tax Receipts

KP Note: CAGR is compound annual growth rate. Source: White House Office of Management and Budget.
(@E) www.kpcb.com USA Inc. | Income Statement Drilldown 166

HOUSE_OVERSIGHT_020924
"
IMAGES-011-HOUSE_OVERSIGHT_030762.txt,"From: jeffrey E. [jeevacation@gmail.com]
Sent: 11/28/2016 5:16:31 PM

To: Miche! Woltt

Subject: Re

Importance: — High

im here today flying to nw york tomow. if he is up to it ild love to sit with him , house or on plane if we

wants a ride

On Mon, Nov 28, 2016 at 12:13 PM, Michael Wolff ii wrote:

I think so.

On Mon, Nov 28, 2016 at 12:12 PM, jeffrey E. <jeevacation@gmail.com> wrote:

im in palm beach is roger here?

On Mon, Nov 28, 2016 at 12:11 PM, Michael Wolff

wrote:

Thought you might be interested in this--it's suddenly made me the only liberal-media guy with access to
Trump circle. http://www.hollywoodreporter.com/news/steve-bannon-trump-tower-interview-trumps-

strategist-plots-new-political-movement-948747

And...I have a bit of an idea for you re media and Saudi friends.

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

HOUSE_OVERSIGHT_030762
"
IMAGES-007-HOUSE_OVERSIGHT_023870.txt,"124 Teaching Minds

repeated exposure and analysis. It always involves a lot of talking. And
therein lies the problem. Since appreciation and enjoyment are sub-
conscious processes, it stands to reason that these processes are best
addressed by a methodology that is less conscious. Telling me why I
should like something is not likely to do much more than teach me
how to talk about something as if I liked it. I can point out the finer
points of baseball to you, but if you don’t care, I won’t be able to get
you to go to the next baseball game.

On the other hand, of course, you certainly won’t like baseball if
you have never seen it played. Exposure is the key to teaching subcon-
scious processes. Add to that an enjoyable atmosphere surrounding
the experience, especially if it is early on in one’s life, associated with
the artistry you want to teach, and it is likely that the learner will learn
to like whatever he is being exposed to. So, evaluation, which starts
out as a subconscious process, must be taught by enabling copying
and repeated practice, but cannot easily be taught verbally.

HOW TO TEACH DIAGNOSIS

Diagnosis is the same and it is different. Many different people do di-
agnosis under many different circumstances. But, the process is always
the same. So it seems normal to ask why an expert in doing diagno-
sis in one area cannot do diagnosis nearly as well in another area of
knowledge. Why can’t a doctor fix his own car? Why can’t a detective
figure out why a business is failing? It is all diagnosis after all.

Diagnosis is best taught early on but it can be taught at any age.
In the end, it is just about knowing what counts as evidence and how
to create and rule out hypotheses. The general process of gathering
evidence and testing hypotheses is the same no matter what you are
doing. This is true in principle, of course, not in actual fact. In reality,
doctors cannot rule out hypotheses by tests that might harm the pa-
tient. Businesspeople cannot rule out hypotheses by running control
businesses that may lose money while others make money. Detectives
cannot spoil a crime scene by altering the evidence. Mechanics cannot
try something that might make things worse. Investors cannot control
world events that might make a seemingly correct hypothesis still not
work out all that well.

To teach diagnosis, simple problems can be worked on that lead to
more complex problems. What is being taught, apart from the process

HOUSE_OVERSIGHT_023870
"
IMAGES-006-HOUSE_OVERSIGHT_020930.txt,"Drill Down on USA Inc. Periodic Large One-Time Charges

Rising Debt Periodic Large
Level & Interest One-Time
Payments Charges

Entitlement
Spending

Note: *denotes F2010 net income / net loss of respective programs, data per White House OMB. 1) Medicare and Social

Security net loss excludes Trust Fund interest income. 2) TARP net loss includes proceeds from sale of warrants. TARP is

KP Troubled Asset Relief Program; ARRA is American Recovery & Reinvestment Act programs.
(@)E) www.kpcb.com USA Inc. | Income Statement Drilldown 177

One-Time Charges: Unusually High in F2009 & F2010 with

Financial + Economic Crisis

| F2011 Net Sum of
Net One-Time Charges to USA Inc. ($B) F2008 F2009 F2010 YTD* 4 Years
Government-Sponsored Enterprises (GSEs) $14 $97 $41 _ $152
Fannie Mae -- 60 23 -- 83
Freddie Mac $14 37 18 — 69
Troubled Asset Relief Program (TARP)* - $261 -$26 -$23 $213
Banks -- 134 -85 -28 21
Automakers -- 78 -6 -14 58
AIG -- 49 -- 20 69
Individual Homeowners -- 0 39 -1 38
Other Financial Institutions -- - 22 - 22
Consumers & Small Businesses -- - 4 - 4
American Recovery and Reinvestment Act (ARRA)** - $40 $137 - $177
Education -- 21 50 -- 71
Nutrition Assistance -- 5 11 -- 16
Transportation -- 4 15 -- 19
Tax Credits -- 2 33 -- 35
Energy - 1 5 -- 6
Other — 7 23 - 30
Net Total One-Time Charges ($B) $14 | $398 $152 -$23 $542

Note: Federal fiscal year ends in September. *TARP one-time charges include repayments & dividends; F2011 TARP data as of 2/11, per US Treasury;
F2011 YTD GSE & ARRA data not available. **ARRA one-time charges exclude funds used by entitlement programs such as Social Security / Medicare /

KP Medicaid / Unemployment. Source: Congressional Budget Office, Dept of Treasury.
(@E) www.kpcb.com USA Inc. | Income Statement Drilldown 178

HOUSE_OVERSIGHT_020930
"
IMAGES-011-HOUSE_OVERSIGHT_032175.txt,"Karim Gharbawi is an architect and building designer with 10
projects under way, all of them eight- and nine-story residential
properties. He said there were some 130 engineering and design firms
in Gaza. Two years ago, none were working. Today, he said, all of
them are.

Another result of the regional changes is the many new cars here.
Israel allows in 20 a week, but that does not meet the need. Hundreds
of BMWs, pickup trucks and other vehicles have arrived in recent
months from Libya, driven through Egypt and sold via the
unmonitored tunnels. Dozens of white Kia Sportage models,
ubiquitous on the street, are widely thought to have come from the
same dealership in Benghazi, Libya, that was looted after the uprising
there began.

Hamas’s control of Gaza appears firmer than ever, and the looser
tunnel patrols in Egypt mean greater access to weapons as well. But
opinion surveys show that its more secular rival, Fatah, is more
popular. That may explain why an attempt at political unity with
Fatah is moving slowly: the Hamas leaders here are likely to lose
their jobs. The hospital supply crisis is a direct result of tensions with
Fatah in the West Bank, which has kept the supplies from being
shipped here.

Efforts by fringe Islamist groups to challenge Hamas have had little
effect. And it has been a year since the government unsuccessfully
sought to impose tighter religious restrictions by banning women
from smoking water pipes in public. On a recent afternoon in the new
Carino’s restaurant — with billiards, enormous flat-screen
televisions, buttery-soft chairs — women without head coverings
were smoking freely.

But such places and people represent a wafer-thin slice of Gazan
society, and focusing on them distorts the broader and grimmer
picture.

HOUSE_OVERSIGHT_032175
"
IMAGES-001-HOUSE_OVERSIGHT_011733.txt,"“single territorial unit” under Oslo. In essence, and very probably in name, this
meant a Palestinian state. | wasn’t opposed to that in principle, if it was in return
for a full and final peace. But the Oslo process meant that we would be handing
back land, and control over security, in an ever-larger portion of territory before
we'd reached any so-called permanent-status agreement. In fact, before we even
knew whether that would prove possible. It wasn’t “land for peace.” It was land
for the promise, or maybe only the hope, of peace. It was the same problem
Yitzhak had faced over the Americans’ misuse of our “pocket deposit” on the
Golan. I realized that, having come this far with Oslo, neither he nor the
government was likely to back away from approving the Gaza-Jericho accord.
But he did say he thought the points I’d raised were important, which I took as
meaning he was comfortable with my raising it with the cabinet.

I spoke near the end of the four-hour cabinet meeting to ratify the Gaza-
Jericho plan. The ministers seemed attentive as I ran through the security
concerns I’d raised with Rabin, even nodding when I compared the agreement’s
security provisions to “a piece of Swiss cheese, only with more holes.” But then
I said that I wanted to say a few words which I recognized were beyond my
responsibility as chief of staff. “I’m speaking just as an Israeli citizen,” I told
the cabinet, “and as a former head of military intelligence.” Referring to specific
provisions in Oslo, and in the Camp David framework agreed by Begin and
Sadat 15 years earlier, I said it was important for ministers to realize that, even
though permanent-status issues were yet to be resolved, “you will be taking us
nearly the whole way toward creating a Palestinian state, based on the
internationally accepted reading of Camp David.” The reaction to my comments
was a mix of defensiveness and hostility. In the latter camp were ministers from
Rabin’s left-wing coalition partners, Meretz, who seemed especially angry
when I quoted from Camp David. The Prime Minister motioned them for calm.
“Ehud had a responsibility to talk about security questions, and we had a
responsibility to listen. As for his additional remarks, they are not a surprise to
me,” he said. “He made these points to me, and I said he could repeat them here.
It is right that he should raise them.” He said there was no need for ministers to
agree with me, but that it was proper that the points I’d raised should be heard.

Many clearly didn’t agree with me, or simply believed the Gaza-Jericho
agreement still had to be ratified, which it was. But my remarks did lay the
groundwork for my objection to the next, more far-reaching stage in the Oslo
process barely a year later. By then, I was no longer chief of staff. I was a
member of Rabin’s cabinet.

262
HOUSE_OVERSIGHT_011733
"
IMAGES-010-HOUSE_OVERSIGHT_028564.txt,"6 JAM v. INTERNATIONAL FINANCE CORP.

BREYER, J., dissenting

statute’s basic purposes,” ibid., as well as “‘the history of
the times when it was passed,” Leo Sheep Co. v. United
States, 440 U.S. 668, 669 (1979) (quoting United States v.
Union Pacific R. Co., 91 U.S. 72, 79 1875)). In this case,
historical context, purpose, and related consequences tell
us a great deal about the proper interpretation of the
Immunities Act.

Congressional reports explain that Congress, acting in
the immediate aftermath of World War II, intended the
Immunities Act to serve two related purposes. First, it
would “enabl[e] this country to fulfill its commitments in
connection with its membership in international organiza-
tions.” S. Rep. No. 861, 79th Cong., 1st Sess., 8 (1945); see
also id., at 2-8 (explaining that the Immunities Act was
“basic legislation” expected to “satisfy in full the require-
ments of... international organizations conducting activi-
ties in the United States”); H.R. Rep. No. 1208, 79th
Cong., 1st Sess., 3 (1945) (similar). And second, it would
“facilitate fully the functioning of international organiza-
tions in this country.” S. Rep. No. 861, at 3.

A

I first examine the international commitments that
Congress sought to fulfill. By 1945, the United States had
entered into agreements creating several important multi-
lateral organizations, including the United Nations (UN),
the International Monetary Fund (IMF), the World Bank,
the UN Relief and Rehabilitation Administration
(UNRRA), and the Food and Agriculture Organization
(FAQ). See id., at 2.

The founding agreements for several of these organiza-
tions required member states to grant them broad immun-
ity from suit. The Bretton Woods Agreements, for exam-
ple, provided that the IMF “shall enjoy immunity from
every form of judicial process except to the extent that. it
expressly waives its immunity.” Articles of Agreement of

HOUSE_OVERSIGHT_028564
"
IMAGES-001-HOUSE_OVERSIGHT_011055.txt,"I call invested consumption. I argued in Chapter 3 that this tradition is sound,

although not logical certitude. | put it as

human cash flow = pay - invested consumption. (6.18)

Work is defined as the output of human capital. Summing (6.16) and (6.17) now

shows the pay rule

work = pay + self-invested work - recovered human depreciation,
after cancellation of invested consumption.
This says that the pay rule is not so exotic after all. It has been staring us in the face
since the Schultz-led consensus, with Ben-Porath, figured out the human growth
equation a half a century ago. We had effectively recognized human cash flow as
pay less invested consumption since Farr a century before, without putting it in

those words. The total return truism does the rest.

A New Approach to the Y Rule

The marginalist tradition, which has dominated economic thought since its
introduction by Jevons and Menger in 1871, has treated all consumption as the end
point exhausting capital in satisfying tastes. It doesn’t follow that marginalists were
unaware that some is invested in human capital. At least three of the leading ones
understood human capital well. That includes Leon Walras, a third co-founder of the
marginalist revolution in 1874. I also mentioned Marshall, who agreed with Farr in
disputing Petty, and Irving Fisher. But all three, and marginalsts in general,
preferred to locate human capital outside the economy proper. Whether they spoke
of labor measured in dollars per unit time, or human capital meansured in dollars
alone, the larger factor was taken to arrive exogenously. It provided its services

from outside and was paid their market value in return, as if on the books of a firm.

Chapter 6: Parallels with the Firm 2/4/16 21

HOUSE_OVERSIGHT_011055
"
IMAGES-005-HOUSE_OVERSIGHT_020236.txt,"84

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 helps him recruit Greenwald and other outlets for his
disclosures. “The material provided and the investigative effort required will be too much for any
one person,” he wrote Poitras. He next directed her to contact Greenwald. “I 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. The Guardian
had become an important player in the business of disclosing government by publishing a large
part of the US documents supplied to Wikileaks. By breaking whistle-blowing stories about US
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 down the opportunity for a whistle-blowing scoop for the
Guardian. After all, the classified documents Snowden would provide him would also give
credence to both Greenwald’s book and his many blogs denouncing of US government
surveillance.

Aside from Greenwald and Poitras, Snowden sought an outlet inside the American
establishment. So he had Poitras write Barton Gellman, the Pulitzer Prize winning reporter for
the Washington Post. Born in 1960, Gellman graduated from Princeton in 1981, and became an
award-winning investigative reporter from the Miami Herald, Washington Post and Time
magazine. He was also the author of the 2008 book Angler: the Cheney Vice-Presidency, which
been made into an HBO mini-series. If Gellman could be drawn into the enterprise, he could
provide Snowden with a gateway to the Washington Post, the prestigious American paper
credited with bringing down President Richard Nixon in the Watergate scandal.

Poitras, as the go-between for Snowden, immediately contacted Gellman. She already knew
him from meetings they both attended at NYU’s Center on Law and Security. After telling him
she was involved in a story about NSA surveillance, she suggested that they meet in New York
City.

For their rendezvous, Poitras took a number of precautions to evade anyone attempting to
follow her. She had Gellman first meet her in one coffee shop in lower Manhattan. When he
arrived, she had him follow her on foot to another coffee shop following her anti-surveillance
tradecraft. Once assured no one was watching them, she ordered coffee for herself and Gellman.
Over coffee, she told Gellman about Snowden, who she described as her anonymous source. She
said that he was willing to supply Gellman with documents that would expose domestic

HOUSE_OVERSIGHT_020236
"
IMAGES-005-HOUSE_OVERSIGHT_018971.txt,"Date: 7/13/06 PALM BEACH POLICE DEPARTMENT Page: 18
Time: 9:27:55 Incident Report Program: CMS301L
Case No. .. . : 1-05-000368 (Continued)

investigation. I received return phone calls from and b6
and advised them that I would be contacting b7C
family therapist to coordinate_a time to meet with This
was at the request of both Back and that strict

classroom and therapy schedule be disrupted as little as_possible. [I
also updated them to the investigation thus far. Both and
oO stated they had no objection to my meeting with In
speaking with she identified the cell phone number of
as being the phone assigned to[lL_—“‘(sN.TVTCd#COCSMMS«j
had no objections and provided consent to giving it to the
police department for the use of placing controlled phone calls from
it. PJ stated the phone had been taken away from[[__]as part
of her punishment for not doing well in school. According to
used to be an excellent student, but in the past two
months has become irritable, verbally abusive to the family and has
run away. [____] stated her daughter's recent behavior is the
opposite of what she normally is. [| stated they are going
through family therapy sessions with the school but none of this had
come up. Arrangements were made for Det. Captain Gudger to retrieve
the cell phone from[ si at: her place of employment.

I called and requested to speak
with . Upon speaking wit she advised me that she
was in the middle of thera sessions and would call me back once the
sessions were completed. [ — _]statea the sessions should_be
concluded by 7:00 PM. At approximately 8:00PM I had called
at which time I'left a message on her voice mail requesting a return
phone call. I spoke with and advised her that I did not
meet with her daughter and that I would again_attempt to coordinate a
time with the counselor so as not to disrupt [| school schedule.
had no objections. Shortly after speaking with

I received a call from . < explained the situation an
requested a time to meet with Back reviewed[____—sd|schedule and
advised that would be available after 3:00PM.

on 03/30/2005, I'met with[ Jand[ dat
[—S—ti‘(i..sCE «CTs veminded[L_ of her conversation with

During this time[___]Jinitiated a conversation with me in which
she admitted that she was not telling me everything that had happened
during the time she was alone with Epstein. According tof |
while she and Epstein were alone on the second_floor, Epstein used a

purple vibrator to massage her vaginal area. stated there
was no penetration as the vibrator was on top of her underwear. I
asked if Epstein ever asked her age and she stated he had.

stated she told him she was eighteen. When Epstein asked
what school she was in,[________| responded she was in the twelfth
grade at . During the course of’ this incident,
stated Epstein told her that[____]had worked for him for years.

We then continued with the controlled call to [RR at

approximately 3:35pm from her cell phone, made a call to
s home, | MEM was not home. [| _|was told

HOUSE_OVERSIGHT_018971

"
TEXT-002-HOUSE_OVERSIGHT_032063.txt,"From: Miller, Michael 
Sent: 10/9/2016 1:52:26 AM 
To: jeffrey E. [jeevacation@gmail.com] 
CC: Weingarten, Reid 
Subject: Re: nuts 
Darren Indyke 
Privileged - Redacted 
Sent from my BlackBerry - the most secure mobile device 
From: jeevacation@gmail.com 
Sent: October 8, 2016 9:24 PM 
To: 
Subject: nuts 
http://lawnewz.com/high-profile/federal-judge-orders-hearing-in-donald-trump-rape-lawsuit-case/ 
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 032063 
"
IMAGES-002-HOUSE_OVERSIGHT_014395.txt,"action may be limited by regulations prohibiting or restricting ""shortselling"" in many jurisdictions. Investors are urged to seek advice regarding the applicability of such regulations prior to
executing any short idea contained in this report.
Foreign currency rates of exchange may adversely affect the value, price or income of any security or financial instrument mentioned in this report. Investors in such securities and instruments,
including ADRs, effectively assume currency risk.
UK Readers: The protections provided by the U.K. regulatory regime, including the Financial Services Scheme, do not apply in general to business coordinated by BofA Merrill Lynch entities
located outside of the United Kingdom. BofA Merrill Lynch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi.
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
time, hold a trading position (long or short) in the securities and financial instruments discussed in this report.
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 recommendations that are inconsistent
with, and reach different conclusions from, the information presented in this report. Such ideas or recommendations reflect the different time frames, assumptions, views and analytical
methods of the persons who prepared them, and BofA Merrill Lynch is under no obligation to ensure that such other trading ideas or recommendations are brought to the attention of any
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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, and in connection
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a

ou

ovo

Bankof America

Merrill Lynch 2016 Future of Financials Conference | 17 November 2016 81

HOUSE_OVERSIGHT_014395
"
IMAGES-006-HOUSE_OVERSIGHT_021390.txt,"instances of disease; they treat patients
as less than the human persons they are.

Physicians, it would seem, are
subject to a particular form of the more
general psychological challenge of
paying attention to other minds. Like all
humans, physicians easily ignore the
mindfulness of others. This matters,
Epley reminds us, “because mindful
agents become moral agents worthy of
care and compassion.” As such, patients
who are seen as mindful “evoke empathy
and concern for well-being, whereas
agents without mindful experience can
be treated simply as mindless objects.”
There are obstacles to recognizing the
mindfulness of patients. Illness makes a
patient different, or deviant, from human
norms, and we tend to pay less attention
to the minds of those who are different
from ourselves. In addition,
“Considering other minds requires some
attentional effort. It does not come
automatically.” Physicians learn to go
through the technical motions of caring
for the sick until those motions become
‘automatic’—that is the mark of a skilled
and effective clinician. But paying
attention to the mindfulness of patients
requires a sustained investment of time
and energy that physicians are often
unwilling to make.

How could religious practices
help? As Luhrmann notes, most people
find it very difficult to pay attention to
God. To help in this difficult and
lifelong task, many religions have
developed disciplines of prayer and
other practices that call to mind what we
tend to forget—including the ideas that
motivate genuine human concern for
those who suffer. Christians, for
example, practice remembering that all
people are ultimately united as children
of the one creator God, that “the ground
is level at the foot of the cross”

144

Page

regardless of one’s social status, one’s
biological fitness or one’s reproductive
capacity. Epley notes that we are better
able to pay attention to what another is
thinking or feeling when we are
motivated to do so. Christianity seeks to
stimulate such motivation by
encouraging Christians to meditate on
the fact that Jesus comes to us in those
who are sick and otherwise suffer’.
Moreover, it reminds us that we are
never alone. As Katherine Tanner
details in her chapter, God is always
with us. This central theological claim,
when remembered in song, prayer,
liturgy, reading of Scriptures and other
rituals, provides a particular form of
what psychologists call “mindful
surveillance”—our actions become more
“prosocial” (even altruistic) when we are
aware of being observed by others. All
of these practices depend on and extend
the capacities of the social brain. They
are also, from the vantage of
Christianity, ways in which one may
come to receive grace, the unmerited
help of God.

Religious practices have
therefore at least the potential to
encourage and strengthen the human
capacity for attending to the
mindfulness, and therefore the
personhood, of those who are sick and
diminished. As Epley suggests, “Making
minds visible, and hence more like one’s
own, enables people to more readily
follow the most famous of all ethical
dictates—to treat others as you would
have others treat you.”

Conclusion

Science and religion are invisibly
and inextricably intertwined in the
practice of medicine. Science has
provided modern medicine with
extraordinary diagnostic and therapeutic

HOUSE_OVERSIGHT_021390
"
IMAGES-003-HOUSE_OVERSIGHT_014904.txt,"¢ StubHub trends as StubHub GMV comps are tough in 1H’17 (32% y/y growth in
1H’16).

« Marketing expenses are expected to increase, putting pressure on margins and
could raise concerns that GMV growth is being “bought”.

Early 1Q traffic data points mixed

comScore’s eBay desktop unique visitors decreased 6% on average through February vs.
down 2% in 4Q. comScore’s total eBay mobile and PC minutes declined 20% y/y on
average through February in 1Q vs. down 17% y/y in 4Q. comScore indicates mobile
minutes decreased 38% vs. down 20% in 4Q.

Estimates vs. Consensus: Expect modest EPS upside

We expect eBay to report broadly in-line revenue/EPS estimates of $2.21bn/S$0.49 vs.
the Street at $2.21bn/S0.48 (guidance is $2.17bn-$2.21bn and $0.46-S0.48). Our model
assumes 11mn shares repurchased in 1Q (about $350mn of repurchase activity). We
have adjusted our GAAP EPS for higher amortization of deferred tax asset.

Table 12: eBay Earnings Summary

1Q17 2017 2017 2018
Revenue
BofAML est. $2,210 $2,340 $9,458 $10,062
Growth Y/Y% 3% 5% 5% 6%
Street $2,206 $2,315 $9,398 $9,925
BofAML vs. Street Above Above Above Above
EBITDA
BofAML est. $855 $843 $3,520 $3,735
Street $841 $827 $3,494 $3,726
BofAML vs. Street Above Above Above Above
EPS
BofAML est. $0.49 $0.48 $2.03 $2.22
Street $0.48 $0.47 $2.01 $2.21
BofAML vs. Street Above Above Above Above

Source: BofA Merrill Lynch Global Research estimates, Bloomberg, as of 4/4/2017

Our $38 price objective is based on 17x our 2018E non-GAAP EPS. O ur 17x P/E
multiple is slightly ahead of the retail comp group average of about 16x, reflecting
eBay's potential for a Marketplace growth acceleration (to well above average retail
growth) in 2017. With 6-8% growth and an 8% FCF yield, we think eBay remains an
interesting value stock for retail investors, although GARP focused Internet investors
may prefer stronger growth at Google or Priceline.

; ; BankofAmerica <2”
18 Internet/e-Commerce | 06 April 2017 Merrill Lynch

HOUSE_OVERSIGHT_014904
"
IMAGES-010-HOUSE_OVERSIGHT_030465.txt,"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.

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 4oth 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.

HOUSE_OVERSIGHT_030465
"
TEXT-002-HOUSE_OVERSIGHT_033355.txt,"From: Richard Kahn 
Sent: 5/8/2019 12:36:13 AM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: The New York Times: Trump tax figures show over $1 billion in losses over 10 years 
Importance: High 
Trump tax figures show over $1 billion in losses over 10 years 
The Times obtained details from a decade of the president's tax returns, revealing $1.17 billion in business 
losses. Here's what else the numbers show. 
Read in The New York Times: https://apple.news/AnDrX8VebSwaqxfHkuKK85g 
Shared from Apple News 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue, 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033355 
"
IMAGES-005-HOUSE_OVERSIGHT_018781.txt,"Market Analys

Overview

The Site is located within the Las Vegas Strip Gaming Enterprise Zoning
District (the “GED”). The GED supports the expansion of gaming and
entertainment activities and associated resort hotels. This zoning designation
offers an extremely flexible development approval process offering a number
of potential uses that can include, but are not limited to any combination of:

Themed Resort and Hotel
Casino and Gaming
Condominiums
Luxury/Upscale Retail

Timeshares

Dining and Entertainment

2014 LAS VEGAS STATISTICS
Visitor Volume 41,126,512
Hotel Room Inventory 150,544
Strip ADR $248.89
Strip Occupancy 90.2%
Strip RevPar $224.49
Convention Attendance 5,169,054

Convention Meetings 22,103
Clark County Gaming Revenue $9,554,002,000
Las Vegas Strip Gaming Revenue $6,372,526,000

HOUSE_OVERSIGHT_018781
"
IMAGES-010-HOUSE_OVERSIGHT_029134.txt,"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

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_029134
"
IMAGES-002-HOUSE_OVERSIGHT_012914.txt,"xviii Contents

13.4.1 The Hopfield neural net model ..............0..0 022 e eee 256
13.4.2 Knowledge Representation via Cell Assemblies .................2.05- 257
13.5 Neural Foundations of Learning ..........0 0.000 ee eee 258
13.5.1 Hebbian Learning............ 0.0.00 eee ete eee 258
13.5.2 Virtual Synapses and Hebbian Learning Between Assemblies .......... 258
35:38 Netital DArwitiiSitt +2; cases cose: cs s@5m5 $@EME DOES SERS EOE RS Emtes CO: 259
13.6 Glocal Memory .......00 0.0 cc eee t ene e eae 260
13.6.1 A Semi-Formal Model of Glocal Memory .............0...0 00 e eevee 262
13.6.2 Glocal Memory in the Brain ............ 000... eee 263
13.6.3 Glocal Hopfield Networks... .......0.000. 0022 c cee ee 268
13.6.4 Neural-Symbolic Glocality in CogPrime ............. 0000.0 269
14 Representing Implicit Knowledge via Hypergraphs ....................... 271
14.1 Introduction .......00..000 000 tte teen ee 271
14.2: Key Vertex atid Edge Typé$ casas cuine cs ce ees ee ses ems es emo ws Meee MERE OE 271
14.3 Derived Hypergraphs .......... 0.000. c cece tenet eae 272
14.3.1 SMEPH Vertices .........000 0000. tte 272
14.3.2 SMEPH Edges ...... 0... ee eee eens 273

14.4 Implications of Patternist Philosophy for Derived Hypergraphs of Intelligent
SYSUCIIS ss cm ems FERS HEME HEME OEE OS CREME CR EMS CR EMS ORES OR EME OR EE Ome 274
14.4.1 SMEPH Principles in CogPrime ............. 000... c eee eee 276
15 Emergent Networks of Intelligence..............00... 002. c eee eee 279
L5el JPOAWEtIOH, «205 seme emees Cees EMNOs LE SMEG MEME SEMS SERS EM E!s dees ema 279
15.2 Small World Networks ........0..000.0 0000 c cette 280
15.3 Dual Network Structure .......0..0.0 000 ete 281
15.3.1 Hierarchical Networks...........0.00.000 00 eee ee 281
15.3.2 Associative, Heterarchical Networks. ........00.000 0000 ccc ees 282
15-38 Dual Networks: « sss: sasa3 ac $5 65 {MEMS EMTWS CM EG SRE EASE wE BREE SR 284

Section V A Path to Human-Level AGI

16 AGI Preschool.......0.... 0... teen eens 289
16.1 Introduction .......... 0.0000 teen teens 289
16.1.1 Contrast to Standard AI Evaluation Methodologies ................... 290

16.2 Elements of Preschool Design ...........00 0.00 e eee eee eee 291
16.3 Elements of Preschool Curriculum ........0... 00000 c eee eee eee 292
16.3.1 Preschool in the Light of Intelligence Theory ....................0-. 293

16.4 Task-Based Assessment in AGI Preschool ............0 0.00 cece ee eee 295
16.5 Beyond Preschool ......... 00... eee ete teens 298
16.6 Issues with Virtual Preschool Engineering .............. 000: cece eee eee 298
16.6.1 Integrating Virtual Worlds with Robot Simulators .................... 301

16.6.2 BlocksNBeads World ............00. 0000 eee cece eee 301

17 A Preschool-Based Roadmap to Advanced AGI.....................000055 307
LG Jnttreduction, asm: isms sa32 Sh 23 SRESE OF TEMG THEW CHES PREM SEEMS OeT mE Sa 307
17.2 Measuring Incremental Progress Toward Human-Level AGI .................. 308
17.3 Conclusion ........00..0 0002 ete eee tees 315

HOUSE_OVERSIGHT_012914
"
IMAGES-005-HOUSE_OVERSIGHT_018959.txt,"Date: 7/13/06 PALM BEACH POLICE DEPARTMENT

Time: 9:27:55 . Incident Report Program: CMS301L
b6
b7C

HOUSE_OVERSIGHT_018959
"
IMAGES-011-HOUSE_OVERSIGHT_031332.txt,"From: Gmax [gmax1@ellmax.com]
Sent: 6/2/2011 2:20:56 PM
To: jeevacation@gmail.com

Importance: — High

Dear President Obama:
Iam writing today with a somewhat unusual request.

First and foremost, I am asking that you return America to its August 20th, 1959 borders so that Hawaii is no longer a state and you
are no longer a citizen.

Sincerely,

Prime Minister

Benjamin Netanyahu

HOUSE_OVERSIGHT_031332
"
IMAGES-012-HOUSE_OVERSIGHT_032483.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

HOUSE_OVERSIGHT_032483
"
IMAGES-009-HOUSE_OVERSIGHT_027954.txt,"tower and the pipeline. But when we reached the site of the underground
communications cable, the mission literally ran into the ground. We dug for
more than two hours, but still hadn’t found the cable, and our mail-order metal
detector stubbornly refused to chirp out any sign of it.

Just when I’d decided to call the helicopter back in to get us, it finally
peeped a faint signal. I still wasn’t convinced, but as we manipulated it back and
forth, it got louder. Still, my instinct was to abort. We’d placed the explosives
on the electricity tower and the pipeline. That would at least divert attention
from our real mission, which meant we could return in a few months and have
another attempt. After all, the part of the operation that had been causing the
most concern in the Airya — our ability to get deep inside Egypt undetected —
had succeeded. We were nearly three hours behind schedule. Unless we worked
a lot more quickly than planned, by the time we installed the communications
intercept and covered our tracks, it would be daybreak.

Digli and several other sayeret officers were following the mission from
their command post in the Sinai, part of the intelligence base our military
engineers had built after the war into a 2,400-feet-high mountain called Gebel
Um-Hashiba, 20 miles back from the Suez Canal. When I radioed in to tell him
I’d decided to abandon the operation, I could hear the surprise in his voice, and
what seemed reluctance as well. “If that’s your judgement...” he said. But
before I could reply that, yes, I felt withdrawal was the wisest course, I heard
him speaking to someone whose voice I also recognized: Avsha Horan. He was
the soldier on guard duty in the command post for our first intercept operation
in the Sinai, the one who’d told me of how Rabin was chain-smoking and biting
his nails when it appeared we might be in trouble. Now, he was a sayeret
officer. Digli came back on the radio. “We can see more from here,” he said.
Then, pausing, he added: “Avsha says he thinks you can still do it.”

I had grown to respect Avsha’s judgement. And while Digli hadn’t explained
what “more” they saw from the command post, I assumed that, since they were
also following the other helicopter teams further south, they were concerned
that the Egyptians had figured out at least that Israeli units were involved. Both
he and I knew that it ultimately had to be my call. Whatever happened, I’d be
responsible. Yet I realized that discussing it further would change nothing, and
time was now what mattered most. “We’ll do it,” I told him, and signed off.

We’d planned for the cable work to take something like five hours, which I
knew we couldn’t afford. With all of us pitching in, sweat drenching our
“Egyptian” uniforms, we managed to finish in slightly less than four. But we

106
HOUSE_OVERSIGHT_027954
"
IMAGES-007-HOUSE_OVERSIGHT_023680.txt,"CW CNN International

Xi Jinping and the New Politburo Standing Committee

Robert Lawrence Kuhn - October 26, 2017

HOST: The author of How China’s Leaders Think: The Inside
Story of Past, Current and Future Leaders, Robert Lawrence
Kuhn is a longtime advisor to the Chinese government. He
comes to us once again from Beijing. We talked this time
yesterday. Good to have you back. And we discussed
yesterday what we would learn about that lineup of the
standing committee. It hadn’t been revealed at that point
that we spoke, but we now know and is it correct to say the
most significant thing is no sign of a leader in waiting?

RLK: I think the most significant sign is who the people are
and how they relate to each other. It’s a group that actually
respects traditional norms.

» F

RLK: There was thought that Wang Qishan, for example,
might violate norms by being on the Standing Committee
after the traditional retirement age and that’s not the case.
There is balance among the member in terms of their

geographies, even their political affiliations within the party

which internally are important. Two are from Shanghai,
two are from the Communist Youth League - one is actually
from Shanghai and the Youth League as well but he’s really
from Shanghai - two have a long relationship with General
Secretary Xi. And then of course General Secretary Xi has

the overarching power as everyone says - and that is correct

and will be correct for a long time to come.

tobert Lawrence

y

CHINA'S NEW POWER PLAYERS ./ LIVE

Ii PRESIDENT XI CEMENTS POWER, REVEALS LEADERSHIP TEAM |

CEMENTS POWER, REVEALS LEADERSHIP TEAM fe""
>Kuhn Author, ""How China's Leaders Think” was ~ sss08

TODAY

HOUSE_OVERSIGHT_023680
"
IMAGES-001-HOUSE_OVERSIGHT_012212.txt,"N

10

11

12

13

18

19

20

21

22

23

MP:

Detective Michele Pagan

KB:

MP:

Kathy Back

|.D. #8059, reference case number 05-368. The time now, by my watch, is
approximately 6 minutes past 2pm on 3/15/05. (Inaudible) High Ridge Family

Center, Sable Palm School.

> Just High Ridge Family Center.

Okay, the High Ridge Family Center. Present also is...could you state your name

please?

MP:

Spell your name please?

MP:

And your daie of birth?

MP:

And you are?

Cathy Back, Family Therapist.

Could you spell your name please?

K-A-T-H-Y B-A-C-K,

And you're her family therapist? Arm | correct?

Yes.

Okay. I'm here today anc | have stated briefly why {'m here is in
reference to an incident that happened to a friend of yours, or a girl you knaw.

Page tof 43

HOUSE_OVERSIGHT_012212

OS8
"
IMAGES-009-HOUSE_OVERSIGHT_026492.txt,"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 affected” specific FBI actions in the Hillary Clinton email investigation, 1t nonetheless

affects the legality of the Trump-Russia collusion inquiry, code-named Crossfire Hurricane.

Crossfire was launched only months before the 2016 election. Its FBI progenitors—the same ones
who had investigated Mrs. Clinton—deployed at least one informant to probe Trump campaign
advisers, obtained Foreign Intelligence Surveillance Court wiretap warrants, issued national security
letters to gather records, and unmasked the identities of campaign officials who were surveilled. They

also repeatedly leaked investigative information.

Mr. Horowitz is separately scrutinizing Crossfire and isn’t expected to finish for months. But the
current report reveals that FBI officials displayed not merely an appearance of bias against Donald
Trump, but animus bordering on hatred. Peter Strzok, who led both the Clinton and Trump
investigations, confidently assuaged a colleague’s fear that Mr. Trump would become president: “No
he won’t. We’ll stop it.” An unnamed FBI lawyer assigned to Crossfire told a colleague he was
“devastated” and “numb” after Mr. Trump won, while declaring to another FBI attorney: “Viva le

resistance.”

The report highlights the FBI’s failure to act promptly upon discovering that Anthony Weiner’s laptop
contained thousands of Mrs. Clinton’s emails. Investigators justified the delay by citing the “higher
priority” of Crossfire. But Mr. Horowitz writes: “We did not have confidence that Strzok’s decision to
prioritize the Russia investigation over following up on [the] investigative lead discovered on the

Weiner laptop was free from bias.”

HOUSE_OVERSIGHT_026492
"
IMAGES-008-HOUSE_OVERSIGHT_024814.txt,"ACKRELL CAPITAL
THE GREEN FIELD 2018

Consumer Products

Flower and Concentrates

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Inclusion in The Green Field 2018 does not represent an investment recommendation or an endorsement of any particular company. Our intent in providing this industry landscape is to provide a graphical representa-
tion of the cannabis industry, its segments and participants. This landscape is necessarily subjective, Numerous companies operate in multiple segments. None of the companies referenced in The Green Field 2018 have
seen The Green Field 2018 prior to publication; therefore, there is no endorsement of The Green Field 2018 or the inclusion in The Green Field 2018 by any company referenced. In addition, any display of any company’s
logo is meant solely as an efficient communications method of identifying the company so referenced. For additional disclosures and disclaimers, see page 175.

HOUSE_OVERSIGHT_024814
"
IMAGES-007-HOUSE_OVERSIGHT_023858.txt,"1712 Teaching Minds

actions. What kinds of predictions do children regularly make, then?
And, what can we teach and how can they learn?

1. Children predict the actions of the people that they interact
with, but they do not necessarily realize that they do this.

2, Children predict the reactions of objects and actions in the
physical world, but they do not necessarily realize that they
do this either.

3. Children predict their own feelings and mental states. They
do things that they think will make them happy, but they
don’t necessarily realize that they do this either.

These three worlds, the social, the physical, and the mental, are at the
center of what adults make predictions about. We predict the speed
of an oncoming car and decide whether we can cross the street safely.
Children may not do this so well. We predict what will happen when
we scream and yell at someone, but children may not predict this too
well either. We predict events that will make us happy or sad, such as
taking a nice vacation, or playing a game, or a good meal, or establish-
ing a relationship with another person. Children do not consciously
think about such things.

But adults do think about these things, so where do children
learn about them? At the present time, the answer is that they learn
about them as events happen randomly in their lives. If they are lucky
enough to have someone helpful to talk with about their experiences,
they may, in fact, become good at analyzing how the world works
and making their predictions conscious. Getting better at prediction
is the cornerstone of living one’s life in a satisfying way. One can, of
course, get better at prediction by simply thinking about it—this is
how most people do that today, of course. But not everyone is capable
of doing that and, clearly, most adults are not all that good at mak-
ing important predictions in their own lives. (This is one reason that
there are bad marriages, financial counselors, clinical psychologists,
and prisons.)

What helps teach one to predict is to hear about the experience of
others and to be able to reflect on one’s own experience. This means
that having experiences to reflect upon, and people who are knowl-
edgeable to discuss those experiences with, is at the cornerstone of
learning to predict effectively.

HOUSE_OVERSIGHT_023858
"
IMAGES-011-HOUSE_OVERSIGHT_031454.txt,"From: Thomas Jr., Landon

Sent: 12/8/2015 10:18:54 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Trump

Importance: — High
Amazing! When is last time you talked to him?

On Tue, Dec 8, 2015 at 5:14 PM, jeffrey E. <jeevacation@gmail.com> wrote:
http://en.actu-cci.com/features/200-women-managers/89 10-celina-midelfart-the-queen-of-glamour my 20

year old girlfriend in 93, , that after two years 1 gave to donald

On Tue, Dec 8, 2015 at 5:03 PM, Thomas Jr., Landon < wrote:
I am serious man -- for the good of the nation why not try to get some of this out there. I would not

do it myself, but would pass on to a political reporter.
http://www.buzzfeed.com/alexcampbell/court-papers-trump-ate-at-jeffrey-epsteins-house#.ltoekLMRz6

Plus: look at these lies!

In response to a message left seeking the Trump campaign’s comment on this article, on
Thursday Trump’s general counsel Alan Garten emailed threatening legal action against
BuzzFeed News. “Mr. Trump’s only connection with Mr. Epstein was that Mr. Epstein was
one of thousands of people who has visited Mar-a-Lago. That’s it. Mr. Trump has NEVER
been accused of having any involvement or even having any knowledge of any of Mr.
Epstein’s conduct by anyone,” Garten wrote.

“As a result, | have no idea what the purpose of your article could possibly be other than to
try and intentionally and with actual malice defame my client’s name and reputation by
mentioning him in the same article as Mr. Epstein. In other words, suggest guilt by
association. This is the very definition of irresponsible and reckless journalism and to
publish such a story would be highly unethical - even by buzzfeed’s standards.”

On Tue, Dec 8, 2015 at 4:53 PM, jeffrey E. <jeevacation@gmail.com> wrote:
hawain tropic girl

lauren petreln a
On Tue, Dec 8, 2015 at 5:50 PM, Landon Thomas Jr. wrote:

Yes!!!

Sent from my iPhone

On Dec 8, 2015, at 4:43 PM, jeffrey E. <jeevacation@gmail.com> wrote:

would you like photso of donald and girls in bikinis in my kitchen.

On Tue, Dec 8, 2015 at 5:41 PM, Thomas Jr., Landon <7 wrote:

Now everyone coming to me thinking I have juicy info on you and Trump.

Because of this.

HOUSE_OVERSIGHT_031454
"
IMAGES-004-HOUSE_OVERSIGHT_017945.txt,"Case 1:19-cv-03377 Document1 Filed 04/16/19 Page 11 of 28

financier told The Post yesterday. “‘It’s the difference between a murderer and a person who
steals a bagel,’ said Epstein.” February 25, 2011, New York Post “Billionaire Jeffrey Epstein:
I’m a Sex Offender Not A Predator’.

D. The Criminal Victims’ Rights Act Proceeding

41. Rather than confer with the victims about the NPA, the U.S. Attorney’s Office
and Epstein, who was represented by Dershowitz at that time, 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.

42. On July 7, 2008, a young woman identified as Jane Doe No. 1, one of Jeffrey
Epstein’s victims (other than Roberts), filed a petition to enforce her rights under the Crime
Victims’ Rights Act (“CVRA”), 18 U.S.C. 9 3771, alleging that the Government failed to
provide her the rights promised in the CVRA with regard to the plea arrangement with Epstein.

43. On February 21, 2019, the Court found that the victims’ rights had been violated
and granted summary judgment in favor of the victims finding: “It was a material omission for
the Government to suggest to the victims that they have patience relative to an investigation
about which it had already bound itself not to prosecute.” Order at 31. In its Order the Court
acknowledged that: “Jeffrey Epstein sexually abused more than 30 minor girls”. The Court also
found: “Among other provisions, the NPA expanded immunity to any ‘potential coconspirator’
of Epstein’s: ‘In consideration of Epstein’s agreement to plead guilty and to provide
compensation in the manner described above, if Epstein successfully fulfills all of the terms and
conditions of this agreement, the United States also agrees that it will not institute any criminal
charges against any potential co-conspirators of Epstein, including but not limited to Sarah

Kellen, Adriana Ross, Lesley Groff or Nadia Marcinkova... From the time the FBI began

11

HOUSE_OVERSIGHT_017945
"
IMAGES-011-HOUSE_OVERSIGHT_030992.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 4/14/2009 7:02:11 PM
To:
Subject: Fwd: FW: As Obama says ""We've got problems""

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

From: gmax <gmax1@ellmax.com>

Date: Sun, Apr 12, 2009 at 6:15 PM

Subject: FW: As Obama says ""We've got problems""
To: J J <jeevacation@gmail.com>

We are in trouble....

The population of this America is 300
million.

160 million are retired.

That leaves 140 million to do the work.

There are 85 million in school.

HOUSE_OVERSIGHT_030992
"
IMAGES-004-HOUSE_OVERSIGHT_016483.txt,"January 4, 2019
Page 2

Respectfully yours,
Davis Wright Tremaine LLP

2D

Robert D. Balin

ce: Assistant District Attommey Karen Friedman Agnifino (by email)
Martin G. Weinberg, Esq. (by email)

4844-9920-0645y.1 3930033-000135

HOUSE_OVERSIGHT_016483
"
IMAGES-006-HOUSE_OVERSIGHT_020918.txt,"Why Will Debt Level

Continue to Rise?
Public Debt Projected
to Rise 2x Over
Next 3 Decades

Source: Congressional Budget Office Long-Term Budget Outlook (6/10), Alternative Fiscal Scenario (assuming a continuation
of today’s underlying fiscal policy. This scenario deviates from CBO’s baseline because it incorporates some policy changes

KP that are widely expected to occur and that policymakers have regularly made in the past).
www.kpcb.com

USA Inc. | Income Statement Drilldown 153

Net Federal Debt As % of GDP

Debt Level: Projected to Rise 3x Over Next 2 Decades,

per USA Inc.’s Own Estimates

USA Public Federal Debt as % of GDP, 1982 — 2030

2030E Federal Debt =
146% of GDP

2010 Federal Debt = 62% of GDP

0%
1982 1986 1990 1994 1998 2002 2006 2010E 2014E 2018E 2022E 2026E 2030E

Source: Congressional Budget Office Long-Term Budget Outlook (6/10), Alternative Fiscal Scenario (assuming a continuation of today’s underlying fiscal
policy. This scenario deviates from CBO’s baseline because it incorporates some policy changes that are widely expected to occur and that policymakers

P have regularly made in the past).
(@E) www.kpcb.com USA Inc. | Income Statement Drilldown 154

HOUSE_OVERSIGHT_020918
"
IMAGES-010-HOUSE_OVERSIGHT_030303.txt,"But that plea deal - guilty of felony solicitation of prostitution and procuring a

person under the age of 18 for prostitution - does not account for all five of the girls,

one as young as 14, who alleged that Epstein sexually abused them. And why is Epstein
serving his term in the overcrowded Palm Beach County Jail and not a state prison, where
inmates are sent if their sentences are longer than one year?

The slow, dissatisfying resolution of the case sends a message to the public

Post your that there's a different system of justice for the wealthy who hire highcomments
powered lawyers. Epstein's legal team included West Palm Beach defense

on this attorney Jack Goldberger, Harvard Law School Professor Alan Dershowitz,

who defended O.J. Simpson against murder charges, and Kenneth Starr, the

prosecutor who pursued then-President Bill Clinton for lying about sex with

young women.

Palm Beach police spent 11 months investigating Epstein before State Attorney Barry
Krischer sent the case to a grand jury, instead of charging Epstein so the man who once
boasted of accepting only billionaire clients could face a trial. The police had taken a high
school transcript, class schedules and phone messages from Epstein's home that showed
he knew the girls were underage. Yet Mr. Krischer was more swayed by Epstein's
lawyers, who attempted to impugn the girls' character by showing they had chatted on
myspace.com about smoking marijuana and drinking. He should have let a jury decide
whether the victims - and Epstein - were credible.

Ultimately, one charge against Epstein finally reflected the age of one victim, and the
plea agreement left Epstein labeled a sex offender. With that additional charge, if Epstein
had been convicted at a trial, he could have been sentenced to anything from probation to
15 years in prison, Assistant State Attorney Lanna Belohlavek said, adding that the
recommended guideline sentence was 21 months.

Epstein also won't have to certify to the court that he is recetving counseling, typically
required of sex offenders, because he has a private psychiatrist. But without court
supervision, who will ensure Epstein is in fact being treated?

The plea deal also drops a federal investigation of Epstein. If a federal investigation was
warranted, how does dropping it before completion benefit the public?

Epstein preyed on girls and denied it. For three years, his wealth and the influence of his
lawyers bought him the protection the state attorney owed to the victims.

New York Post — 07/27/2008

New York Post - New York, N.Y.

Date: Jul 27, 2006

Start Page: 014

Section: Page Six

Text Word Count: 395

IT looks like New York billionaire financier Jeffrey Epstein got off easy when he was hit
with a charge of soliciting a prostitute for a ""happy ending"" in Palm Beach.

Because if Palm Beach police had their way, Epstein, 53 - who surrendered last Sunday
and is out on $3,000 bail - might have been whacked with far more serious charges of

paying underage girls for sex.

HOUSE_OVERSIGHT_030303
"
TEXT-002-HOUSE_OVERSIGHT_033433.txt,"﻿12:541 
.111 LIE • 
OVERVIEW TOP STORIES MOVIES VIDEOS B 
Alan Dershowitz Replied-
All to the Entire Media to 
Claim Trump Didn't... 
1 day ago 
F14 Alan Dershowitz 
i 0 W Twitter > AlanDersh 
Trump lawye 
and Dersholn 
on Saturday 
11 hours ago 
't David Boies, the lawyer for These r 
)ut I both of my false accusers, joining 
by has admitted in private that It's my 
ers of his client has falsely accused want ta 
of me :""your belief ""— referring have nc 
:hem to his client— ""is wrong"". everyff 
on. ""Your conclusion is simply 
ley wrong"". I challenge Boles to 
them deny this admission under 
oath. 
16 hours ago 
About Alan Dershowitz 
16 hours 
"
TEXT-001-HOUSE_OVERSIGHT_030382.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 10/26/2015 6:11:47 PM 
To: Richard Joshi 
Subject: Fwd: draft 
Importance: High 
----------Forwarded message---------- 
From: jeffrey E. <jeevacation@gmail.com> 
Date: Mon, Oct 26, 2015 at 2:08 PM 
Subject: draft 
To: Melanie SpineIla < 
>, 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 
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 030382 
"
TEXT-002-HOUSE_OVERSIGHT_032739.txt,"From: Weingarten, Reid 
Sent: 3/24/2018 3:19:05 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
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? 
On Sat, Mar 24, 2018 at 11:02 AM, Weingarten, Reid 
Am I seeing you tomorrow morning? 
Sent from my BlackBerry 10 smartphone. 
I I 
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 
HOUSE OVERSIGHT 032739 
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 032740 
"
TEXT-001-HOUSE_OVERSIGHT_031088.txt,"From: Faith Kate 
Sent: 12/17/2010 1:13:39 PM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: RE: 
Neither very funny...always ask for the 3 minute version but most of the girls you know haven't spoken for a total of 30 
minutes in all the time you knew them... .she is a GREAT girl who is refreshing in this business totally focused and smart. 
Jeffrey I brought her to a meeting with scientists a few months back she knew more than they did and totally embarrassed 
not only the scientists but the client was totally unprepared for what she knew, she actually was able to tell them things 
they were and weren't doing that they had no clue of and they changed there practices at p&g!!!! this is the kind of girl to 
mold she is the leader in her field of sustainability ny times wrote an article if you cant afford al gore hire summer rayne 
says something. 
xoxo 
From: Jeffrey Epstein [mailto:jeevacation@gmail.com] 
Sent: Friday, December 17, 2010 7:32 AM 
To: Faith Kates 
Subject: 
woody asked summer, so what do you do? 30 minutes later, she had not taken a breath. . either medicated, or 
manic.„ 
*********************************************************** 
The information contained in this communication is 
confidential, 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. 
NOTE :This message including any attachments contains information, some or all of which, may be proprietary or legally privileged. It is for the intended recipient 
only. If you have received this message by error, please notify us immediately and destroy the related message. You, the recipient, are obligated to maintain it in a 
safe, secure, and confidential manner. Unauthorized re-disclosure or failure to maintain confidentiality could subject you to penalties described in Federal and 
State law. Next Management, LLC and any affiliate companies are not responsible for errors or omissions in this message or any attachments. 
HOUSE OVERSIGHT 031088 
"
IMAGES-011-HOUSE_OVERSIGHT_032149.txt,"The Pavilions - Phuket

These hilltop retreats are some of Phuket's most romantic crash pads Starting Sunday
thanks to sublime panoramic Andaman Sea views and the island's most aa fe at 8pm BST
discreet staff. All villas include swimmable pools and roomy decks for

sun and shade. The 360 bar attracts the island's bestdressed J nemnrennsrnnes _
inhabitants who flock here at sundown for the calm view then stay
sipping colorful cocktails late into the warm night.

Click here to preview sale

From Cooking to Kickboxing on Koh Samui

HOUSE_OVERSIGHT_032149
"
IMAGES-010-HOUSE_OVERSIGHT_030317.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_030317
"
IMAGES-010-HOUSE_OVERSIGHT_028558.txt,"16 JAM v. INTERNATIONAL FINANCE CORP.

Opinion of the Court

JUSTICE KAVANAUGH took no part in the consideration or
decision of this case.

HOUSE_OVERSIGHT_028558
"
TEXT-001-HOUSE_OVERSIGHT_030396.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 11/9/2017 4:08:49 PM 
To: Melanie SpineIla 
https ://www.the guardian. com/news/20 1 7/nov/09/donald-trump-rob ert-kraft-owner-o ffshore-firm-new-england-
patriots-paradise-papers  
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 030396 
"
IMAGES-004-HOUSE_OVERSIGHT_017789.txt,"EXHIBIT 5

HOUSE_OVERSIGHT_017789
"
IMAGES-007-HOUSE_OVERSIGHT_023694.txt,"CNN’S AMANPOUR -— May 29, 2013
President Xi Jinping to meet President Barack Obama

Interview with Dr. Robert Lawrence Kuhn,
long-time adviser to China’s leaders.

http://edition.cnn.com/video/#/video/world/2013/05/29/exp-race-china-us-amanpour.cnn

CHRISTIANE AMANPOUR, CNN HOST: Good evening.
I'm Christiane Amanpour. There may officially be only one
superpower today, but another is rapidly advancing. The
United States and China jockey for position at the pinnacle of
the world in what might just be called a race to the top. So
how will the first tete-a-tete go between their leaders, the two
most powerful men on Earth, U.S. President Barack Obama
and China's leader, Xi Jinping, will meet just over a week
from now in an informal setting at the aptly named
Sunnylands Estate just outside Los Angeles. China is
anxious and angry about Obama's much-touted “pivot” to
Asia and about what China perceives to be the U.S. siding
with Japan over disputed islands in the East China Sea. The
United States, for its part, has a laundry list of concerns,
everything from alleged Chinese hacking of even its most
sensitive military secrets to its influence over North Korea
and Pyongyang's nuclear saber-rattling. President Xi says the
U.S.-China relationship 1s at a crucial juncture and he says
that he wants to forge, ""a new type of great power
relationship."" So what exactly will that look like? We need
to know because this may just be the most important
relationship in the world today. And in a moment, I will dig
deeper with Robert Lawrence Kuhn, a long-time adviser to
China's leaders.

AMANPOUR: Robert Lawrence Kuhn has tremendous
insight into China's leaders. He's a long-time adviser to the
Chinese government; he's met President X1 several times and
he's the author of the book, ""How China's Leaders Think.""
That is a big title. Welcome to the studio.

HOUSE_OVERSIGHT_023694
"
IMAGES-009-HOUSE_OVERSIGHT_027940.txt,"Now that we were in a fight —the single fiercest battle in Israel’s advance
across the Sinai — Lieutenant-Colonel Eitan reacted swiftly. Standing tall amid the
shellfire and the flames, he radioed for supporting fire, only to be told that none of
our artillery batteries was within range. Realizing we couldn’t penetrate the
front armor of the Egyptian tanks, he ordered a platoon from the rear to leave
the road and fire on the Egyptians’ from their flank. When one T-55 was hit and
started to burn, he ordered the rest of us to collect the dead and wounded and
retreat toward Bir Gafgafa.

As we pulled back, we encountered a company of Centurion tanks from the
Seventh Brigade, sent in to relieve us. We pulled off the road to let them pass.
The battle ended up raging for another hour. By the time it was over, the
Egyptian tank unit was nearly destroyed. But almost two dozen of Eitan’s
reservists had been killed. A few days later, I learned that the commander of the
Centurions had also been killed. His name was Shamai Kaplan. Though I didn’t
know him personally, he was married to one of my kibbutz “sisters” from
Mishmar Hasharon.

The pace of the war, its intensity, and the transformative capture of territory
across our 1948 borders had accelerated dramatically since we’d joined the
reserve battalion’s ill-fated advance toward the canal. Back at Bir Gafgafa, we
learned that Israeli troops had broken through in fierce fighting with the
Jordanians and taken the whole of east Jerusalem, including the Old City and
the site of the remains of the ancient temple. The news sent a shiver down my
spine. I was still only 25, a kibbutznik raised on the assertively secular creed of
Gordinian Zionism. But I was old enough to remember the war of 1948, the
bitter struggle for the ancient city in which Judaism had been born, the packages
of food we had sent to try to help break the siege there, and the division of
Jerusalem at the end of the war, leaving us with only its newer, western half.
And while I may not have read the Torah in the same way as a religiously
observant Jew, the meaning of Jerusalem was no less powerful for me. It was
part of our people’s history, of who we were, where we’d come from and how
we had ended up in the place where I’d been born, where I’d grown up, and
which I’d spent the early part of my adult life defending. This was no less true
of the biblical sites of Judaea and Samaria — the West Bank of the Jordan river.

92
HOUSE_OVERSIGHT_027940
"
IMAGES-009-HOUSE_OVERSIGHT_026486.txt,"of the text messages raising such questions pertained to the Russia investigation.” Given how biases
ineluctably shape behavior, these facts create a strong inference that by squelching the Clinton
investigation and building a narrative of Trump-Russia collusion, a group of government officials
sought to bolster Mrs. Clinton’s electoral chances and, 1f the unthinkable happened, obtain an insurance

policy to cripple the Trump administration with accusations of illegitimacy.

What does this have to do with Mr. Mueller, who was appointed in May 2017 after President Trump
fired Mr. Comey? The inspector general concludes that the pervasive bias “cast a cloud over the FBI
investigations to which these employees were assigned,” including Crossfire. And if Crossfire was
politically motivated, then its culmination, the appointment of a special counsel, inherited the taint. All
special-counsel activities—investigations, plea deals, subpoenas, reports, indictments and
convictions—are fruit of a poisonous tree, byproducts of a violation of due process. That Mr. Mueller

and his staff had nothing to do with Crossfire’s origin offers no cure.

When the government deprives a person of life, liberty or property, it is required to use fundamentally
fair processes. The Supreme Court has made clear that when governmental action “shocks the
conscience,” it violates due process. Such conduct includes investigative or prosecutorial efforts that

appear, under the totality of the circumstances, to be motivated by corruption, bias or entrapment.

In U.S. v. Russell (1973), the justices observed: “We may someday be presented with a situation in
which the conduct of law enforcement agents is so outrageous that due process principles would
absolutely bar the government from invoking judicial processes to obtain a conviction.” It didn’t take
long. In Blackledge v. Perry (1974), the court concluded that due process was offended by a
prosecutor’s “realistic likelihood of ‘vindictiveness’ ” that tainted the “very initiation of proceedings.”
In Young v. U.S. ex rel. Vuitton (1987), the justices held that because prosecutors have “power to
employ the full machinery of the state in scrutinizing any given individual . .. we must have assurance
that those who would wield this power will be guided solely by their sense of public responsibility for
the attainment of justice.” Prosecutors must be “disinterested” and make “dispassionate assessments,”
free from any personal bias.

In Williams v. Pennsylvania (2016), the court held that a state judge’s potential bias violated due
process because he had played a role, a quarter-century earlier, in prosecuting the death-row inmate
whose habeas corpus petition he was hearing. The passage of time and involvement of others do not
vitiate the taint but heighten “the need for objective rules preventing the operation of bias that might
otherwise be obscured,” the justices wrote. A single biased individual “might still have an influence

that, while not so visible . . . is nevertheless significant.”

HOUSE_OVERSIGHT_026486
"
IMAGES-003-HOUSE_OVERSIGHT_015398.txt,"The Missing Episode of Seinfeld

[erry Seinfeld is onstage at a comedy club]

Jerry: Did God look down at Adam and Eve one day and say, “Oops,
| forgot something. Let there be erections.” So Adam got the first hard-
on in history. But God forgot to say when. And that’ s why men don’ t
always get an erection when they want one. Women don’ t know it, but
sometimes men have to actually pray for a hard-on. “Please, God, |’ Il be
sensitive to her needs, | promise, oh God, please, just make it hard...”

[Cut to George Costanza, having dinner with his parents. There is no
conversation, but George’ s father is smiling, then chortles out loud.]

George: What! What! What’ s so funny? Is it because lI’ m
becoming more like you every day?

George’ s father: Should | tell’ im? I’ m gonna tell’ im.

George’ s mother: No, don’ t tell’ im. It’ s private between you
and me. It’ s none of his beeswax.

George: C' mon, stop teasing me, | wanna know, whatever it is, |
wanna know, so c’ mon, tell me.

George’ s father: Okay, |’ m gonna tell ' im. |’ ve been taking
Viagra, George, and it really works. Your mother and | have been making

whoopee like it was going out of style.

HOUSE_OVERSIGHT_015398
"
IMAGES-001-HOUSE_OVERSIGHT_012206.txt,"002/003

11/05/2007 11:27 FAX a etapa p pata
11/05/07 MON 10:05 FAX $05 530 6440 EXECUTIVE OFFICE

United States Attorney
Southern District of Florida

99 NLC. 2"" Street
Miami, FL §3742.2132
(305) 963-9299

Fausimile: (308) 5306dd4

November 5, 2007

Jay P. Lefkowitz, Esq.

Kirkland & Ellis LLP

Citigroup Center

153 Bast 53rd Street

New York, New York 10022-4675

Re: Jaffrey Epstein
Dear Jay;

Several things have come to my attention that Seem contrary to your client intending ta abide
by his obligations uder the Non-Prosecution A ereement. As you know, that agreement requires our
Office to inform you of potential breaches to give you and your client the opportunity to respond
before an indictment is filed. At this tire, I do not believe that the agreement has been breached;
however, I have sufficient concerns that need to be addressed,

First, understand that private investigators working for Mr. Epstein have contacted victims
to ask them whether any detectives or FBI agents have discussed a financial settlement with them,
On one occasion, the private investigators told the parent of a victim that she should get an attorney
for her daughter and she should do so right away. These actions are troublesome because the FRI
agents legally are required to advise the victims of the resolution of the matter, which includes
informing them that, as part of the resolution, that Mr, Epstein has agreed to pay damages in some
circumstances. Furthetmore, Mr, Epstein well knows that we are in the process of selecting an
attorney to represent the vietims and, but for the inordinate amount of time spent negotiating the
Addendum, that attorney would already have been selected, Paragraph 7 of the Non-Prosecution
Agreement explicitly provides that contact with the victims shall be through that counsel,
Accordingly, please confirm that there will ba no further efforts to contact any victims until Judge
Davis selects the attomey representative and that, thereafter, contact will be made only through that
counsel.

Second, the Non-Prosecution Agreement requires Mr, Epstein to use his best efforts to enter
his guilty plea and to be sentenced not later than October 26, 2007, Despite this obligation, the
Oifice agreed that My, Epstein could postpone this deadline to November, but reiterated that My.

HOUSE_OVERSIGHT_012206

idoos
"
IMAGES-008-HOUSE_OVERSIGHT_024800.txt,"HOUSE_OVERSIGHT_024800
"
IMAGES-004-HOUSE_OVERSIGHT_017951.txt,"Case 1:19-cv-03377 Document1 Filed 04/16/19 Page 17 of 28

(b) Nadia Marcinkova refused to answer on Fifth Amendment grounds:
“Alan Dershowitz is also somebody that you also know to have been at the house
when L.M. was being sexually abused in Jeffrey Epstein’s bedroom, correct?”
64. In 2011 Counsel for Edwards wrote Dershowitz:
(a) On August 23, 2011: “We... have reason to believe that you have
personally observed Jeffrey Epstein in the presence of underage females”.
(b) On September 7, 2011: “Multiple individuals have placed you in the
presence of Jeffrey Epstein on multiple occasions and in various locations when
Jeffrey Epstein was in the company of underage females subsequently identified
as victims of Mr. Epstein’s criminal molestations.”
65. Dershowitz lied and stated that he had never flown on Jeffrey Epstein’s plane
with a young woman and always flew with his wife. (Hala Gorani, CNN Live, Jan. 5, 2015).
However, even the limited publically available flight logs of Jeffrey Epstein’s private plane
demonstrate that Dershowitz flew often on Epstein’s planes without his wife; with young
women, including a Victoria’s Secret model; Epstein’s procurer Ghislaine Maxwell; and Sarah
Kellen who was identified by the Government as Epstein’s co-conspirator in his sex trafficking.
66. Dershowitz also lied by saying that he “never” got a massage from anybody: “I
never got a massage from anybody. It’s made up out of whole cloth.” (NY Daily News, January
21, 2015). However, after it was revealed that Epstein’s household staff identified Dershowitz as
one of the recipients of “massages” at Epstein’s Palm Beach mansion, Dershowitz changed his
story and admitted he got a massage at Epstein’s Palm Beach home but claimed: “I kept my

underwear on during the massage.” (Local 10, January 22, 2015).

17

HOUSE_OVERSIGHT_017951
"
IMAGES-011-HOUSE_OVERSIGHT_031440.txt,"° Both Arizona State and the Australian National University told her they would look into the matter. But
neither university found against you.

° “Based on the material available to the University, we do not have sufficient evidence to substantiate
the allegations,” Kiaran Kirk, dean of the College of Science at the Australian National University, wrote to her.

° Erin Ellison, who heads Arizona State’s Office of Equity & Inclusion, wrote to her explaining that an
inquiry “did not find a violation of university policy.”

° In October, Arizona State denied a request from BuzzFeed News for documents relating to complaints
of sexual harassment against you. However, Cynthia Jewett, the university's senior associate general
counsel, noted that two individuals, neither affiliated with the university, had complained about you. “The
University did not find either communication to state a credible allegation,” Jewett wrote.

Miscellaneous facts:

° In 2008, you founded the Origins Project at Arizona State University in Tempe, a multidisciplinary effort
to understand the origins of the universe, life, and social systems. You have led that effort ever since.

° Thanks to best-selling books like The Physics of Star Trek and A Universe From Nothing, frequent
essays in publications including the New Yorker and the New York Times, and the documentary you made
with biologist Richard Dawkins, called The Unbelievers, you are celebrated as one of America’s leading public
intellectuals.

° You served on the science policy committee for Barack Obama’s 2008 presidential campaign and are a
vocal critic of President Donald Trump.

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_031440
"
IMAGES-009-HOUSE_OVERSIGHT_027798.txt,"Is Read: Yes
Is Invitation: No

GUID: A86F3FCF-BBC3-43E7-B750-1FD1843A0246

Message: Yes

sender: ay

Time: 06/15/19 10:32:01 AM (582312721)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: F64B4AEB-E47E-4006-AF3E-70466C6C1609

%

Message: Yes

Sender: e:jeeitunes@gmail.com

Time: 06/15/19 10:32:23 AM (582312743)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 2FB3357F-60BD-4E67-8A75-32342F4D29FB

Message: Countries dependent on s strong daddy America all flipping out

Time: 06/15/19 10:45:36 AM (582313536)

Flags: 1060865
Is Read: Yes
Is Invitation: No

GUID: 37B619BF-90BD-4753-A35D-2D62E6F8099F

Message: Not looking for 'protectorates'

Sender: e:jeeitunes@gmail.com

Time: 06/15/19 10:47:22 AM (582313642)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 25430DC2-269D-4277-96A1-2CBC1F639B24

Message: No. Not financial. Emotional . There is a difference.

sender:

Time: 06/15/19 10:47:54 AM (582313674)

Flags: 1060865
Is Read: Yes

Is Invitation: No

HOUSE_OVERSIGHT_027798
"
IMAGES-004-HOUSE_OVERSIGHT_016497.txt,"Second, Assistant District Attorney Friedman Agnifilo objected to unsealing any portion
of the appellate briefs and wrote that “we cannot agree ... even to a production of the people’s
brief with redactions of the names or initials of Epstein’s victims.” Jd. 43. She further noted,
however, that “if this Court is inclined to grant the Post’s motion, we would not oppose
producing a copy of the People’s brief, with substantial redactions necessary to protect the
identities of the victims but keeping intact those portions of the brief that recount the procedural
history of the SORA hearing.” Jd.

Although the Post does not agree that section 50-b requires it to notify Florida
prosecutors of its intention to move this Court to unseal briefs filed by the Manhattan District
Attorney in a New York sex offenders proceeding, it nonetheless voluntarily withdrew the
December 21 Motion on January 4, 2019 to moot the issue and bypass an easily avoidable
procedural dispute. Counsel for the Post has contacted the Palm Beach State Attorney’s office
and the United States Attorney’s Office for the Southern District of Florida (collectively, the
“Florida Prosecutors”) to apprise them of its intention to refile this motion to unseal the appellate
briefs with the names of victims redacted. /d. f{ 17-18. The Post will also serve the Florida
Prosecutors with copies of this motion.

Having mooted the procedural objection raised by the Manhattan District Attorney, the
Post now refiles its motion respectfully requesting an order unsealing the appellate briefs and
directing the District Attorney’s Office to provide the Post with copies — with the names of

victims redacted — within seven days of the entry of its order.

filed by New York prosecutors in a New York court as part of proceedings to register Epstein as a sex-offender in
New York State. The statute requires a movant to furnish notice to “the public officer ... with the duty of
prosecuting the offense.” N.Y. Civ. Rights Law §50-b. Here, the Manhattan District Attorney’s Office had “the
duty of prosecuting the offense” on behalf of the People of New York — i.e., the sex-offender registration
proceedings against Epstein in this State — and there is no question that the Post provided the Manhattan District
Attorney with adequate notice of the December 21 Motion.

10
481 1-372 1-9459v.3 3930033-000039

HOUSE_OVERSIGHT_016497
"
IMAGES-011-HOUSE_OVERSIGHT_030986.txt,"From: Steve Bannon

Sent: 12/22/2018 3:31:34 PM
To: J [jeevacation@gmail.com]
Subject: Re: Trump has discussed firing Fed chief after latest interest rate hike: report | TheHill

Importance: — High

LMAO

Perfect mnuchin hit

On Dec 22, 2018, at 9:22 AM, J <jeevacation@gmail.com> wrote:

In 1993, Powell began working as a managing director for Bankers Trust, but he quit in 1995 after the bank got

into trouble when several customers suffered large losses due to derivatives. He then went back to work for
Dillon, Read & Co!

he didnt understand the markets 25 years ago. obama appointed him to the board. what else do you guys need to know

On Sat, Dec 22, 2018 at 8:21 AM Steve Bannon iii, wrote:

https://thehill.com/policy/finance/422577-trump-considering-firing-federal-reserve-chief-after-latest-interest-

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_030986
"
IMAGES-012-HOUSE_OVERSIGHT_032497.txt,"New York, New York 10022

Be ee eee ee ee ee ee i ee i ee i ee i ee ee ee ee ee ee ee i
Bis 2g FIC 2g 2s ie 248 Os 2k is 2c 2s 2

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 - © 2017 Darren K.

Indyke, PLLC — All rights reserved.

Be ee ee ee ee i ee ee i ee ee ee ee ee ee ee i ee ie ae
DiS 2g 2S 2g Ds ie 246 is 2k 2s 24k 2s 2g 2k

Begin forwarded message:

From: Etienne Binant Po

Subject: TR: TR: update
Date: February 16, 2017 at 9:29:08 PM EST
To: Darren Indyke

Dear Darren
| hope all is well
can you let me know if the below modus operandi works for you?

all the best

De : Etienne Binant {a

Envoyé : mercredi 15 février 2017 18:15
A: Darren Indyke
Objet : RE: TR: update

Thanks Darren

Good news!

HOUSE_OVERSIGHT_032497
"
IMAGES-011-HOUSE_OVERSIGHT_031326.txt,"From: Gmax [gmax1@ellmax.com]

Sent: 4/2/2011 7:09:39 PM
To: jeevacation@gmail.com
Subject: Re:

Importance: — High

I have been thinking about that...

ano Original Message -----

From: Jeffrey Epstein <jeevacation@gmail.com>
To: Gmax

Sent: Sat Apr 02 14:25:45 2011

Subject:

i want you to realize that that dog that hasn't barked is trump.. virignia spent hours at my house with him ,, he has never once been

mentioned. police chief. etc. im 75 % there

Bis Bis Bis fs Bis Bhs fs 2s 2s 24s 2s 2s fs fe 2s Bis fe 2 is 2g 2s Bis Bhs 2h oft ahs 2s 2S 2S IS 2S OAS OIE fe 2g Bis fe 2 fs 2s is 28s aft 2s 2fs ahs 2s 2S IS fe 2k 2fS 2s 2k 2fs afc 2k fk

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It 1s 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_031326
"
IMAGES-003-HOUSE_OVERSIGHT_014938.txt,"Company referenced Ticker Price
Alphabet A GOOGL 848.91
Alphabet C GOOG 831.41
Amazon.com AMZN 909.28
Bankrate RATE 975
Care.com CRCM 11.68
eBay EBAY 33.81
Expedia EXPE 124.97
Facebook FB 141.85
Fitbit FIT 571
GrubHub GRUB 33.27
LendingTree TREE 117.8
Match Group MTCH 16.45
Netflix nflx 143.62
ONDK ONDK 462
Pandora P 11.82
priceline.com PCLN 1761.77
Quotient QUOT 94
Snap SNAP 20.7
TripAdvisor TRIP 41.76
Trivago TRVG 12.81
Twitter TWTR 14.53
Wayfair W 40.21
Yahoo! YHOO 46.38
Yelp YELP 33.22
Zillow A ZG 33.49
Zillow C Z 33.47
ZYNGA ZNGA 2.18

Source: BofA Merrill Lynch Global Research, Prices as of 5 April 2017

52 __Internet/e-Commerce | 06 April 2017 Bankof America <2
Merrill Lynch

HOUSE_OVERSIGHT_014938
"
IMAGES-010-HOUSE_OVERSIGHT_030471.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 4oth 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_030471
"
TEXT-002-HOUSE_OVERSIGHT_033341.txt,"From: Larry Visoski 
Sent: 2/1/2019 8:12:28 PM 
To: Je vacation [jeevacation@gmail.com] 
Subject: POTUS 
Jeffrey 
Just heads up 
President Trump arrives PBI today and is scheduled to depart 9pm on Sunday, 
Should not effect our arrival at 11:30pm Sunday evening 
Thx 
Larry 
Sent from my iPhone 
HOUSE OVERSIGHT 033341 
"
IMAGES-001-HOUSE_OVERSIGHT_011069.txt,"added the mechanics. Nassau Senior made that principle his first axiom in his
Outline of 1836. The biological imperative lapsed from attention when the first
generation of marginalists, led by Jevons and Menger, with Walras soon to follow,
thought it unscientific to explain or justify tastes. It reemerged a century later in
bioeconomics, much of which looked for economic implications of Hamilton’s rule.

We will see how it might clarify pure consumption and the maximand.

Enlightened Kin Selection

Hamilton’s rule needs completion because the quarterback and his genes have
figured out that the bench is better than the hospital. What really happens, I think, is
a long-range example of Bob Trivers’ “reciprocal altruism” of 1971 as generalized by
Richard Alexander. Bob wrote that creatures might invest in non-kin if the
investment were expected to be repaid with interest. Alexander added that the
repayment could be to the investor’s kin with equal genetic benefit if Hamilton’s
hurdle rb>c were cleared from the investor’s perspective. The quarterback yields
to special teams on fourth down, and they to the defense until possession changes
again, for the best interests of each and all in the long run. The interest they receive
in turn for deferring to non-kin is the cost of maintaining themselves on the bench. It
does not accrue and compound because it is paid out continuously. It is an insurance
cost that each temporary winner dares not trim. Group selection is enlightened kin

selection.

Three or four decades ago, this much acknowledgement of group selection would
have met more resistance than I expect now. It shouldn’t have. Half the beauty of the
Hamilton-Zuc scenario is in explaining allelic diversity as a result of agonistic rather
than lethal competition. Zack and Jack and their genotypes are rivals now because

they are teammates in the big picture.

Kin selection is a help until it crosses the line and becomes a hindrance. Some
mothers in the source deme will carry higher frequencies of the antidote gene than

others. They will tend to be healthier, and so able to invest more energy in more

Chapter 7 Petty’s Idea 2/3/16 10

HOUSE_OVERSIGHT_011069
"
IMAGES-005-HOUSE_OVERSIGHT_018795.txt,"Opened in 2013, The Ling is owned by Caesars Entertainment and is Las Vegas’
newest dining, shopping, and entertainment district. The focal point is the High
Roller, a 550-foot observation wheel -- the tallest in the world -- offering 360 degree
views of the Las Vegas valley. This high-energy marketplace offers approximately
40 shops and restaurants in a 200,000-square-foot area. Restaurants and nightlife
includes: O’Shea’s Casino, Chayo Cocina, Off the Strip Bistro, Purple Zebra,
Sprinkles Cupcakes, Starbucks, Ghiradelli, Yard House, Tilted Kilt and Flour &
Barley. Shops include The Polaroid Museum, Pier 30, Koto, Bella Scarpa, 12A.M.
Run, Chilli Beans, Goorin Bros., Kitson and Ruby Blue. The LINO Promenade also
features Brooklyn Bowl, a music venue that holds a capacity of 2,000-plus concert
goers. Brooklyn Bowl has a restaurant, 32 bowling lanes, a section to watch sports
during the day, nightly live performances and a nightclub area.

The Crystals Shopping Center includes high end stores such as Blvgari, Cartier,
Christian Dior, Fendi, Gucci, Harry Winston, Hermes and Jimmy Choo. Crystals
houses over 41 retailers and six restaurants.

The Cosmopolitan opened in December 2010 and contains approximately 38,000
square feet of retail space. The Cosmopolitan retail offers more than 60 specialty
shops and boutiques including AllSaints, Spitafields, Beckley, CRSVR Sneaker
Boutique, DNA 2050, Droog, Molly Brown’s Swimwear, Monogram, Retrospecs &
Co., Skins 612 Cosmetics, Stitched, and Vitals. Retail and entertainment attractions
include a number of clubs.

oe

i

NV

mets ae
.

HOUSE_OVERSIGHT_018795

"
IMAGES-010-HOUSE_OVERSIGHT_029120.txt,"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

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_029120
"
IMAGES-002-HOUSE_OVERSIGHT_012900.txt,"HOUSE_OVERSIGHT_012900
"
IMAGES-010-HOUSE_OVERSIGHT_028969.txt,"Correspondent

Reuters News

Thomson Reuters

Office
Mobil
————EE

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_028969
"
IMAGES-002-HOUSE_OVERSIGHT_013149.txt,"12.8 Possible Benefits of Creating Societies of AGIs 233
we wish that extrapolated, interpreted as we wish that interpreted.

While a moving humanistic vision, this seems to us rather difficult to implement in a computer
algorithm in a compellingly ""right"" way. It seems that there would be many different ways of
implementing it, and the choice between them would involve multiple, highly subtle and non-
rigorous human judgment calls +. However, if a deep collective process of interactive scenario
analysis and sharing is carried out, in order to arrive at some sort of Coherent Blended Volition,
this process may well involve many of the same kinds of extrapolation that are conceived to
be part of Coherent Extrapolated Volition. The core difference between the two approaches
is that in the CEV vision, the extrapolation and coherentization are to be done by a highly
intelligent, highly specialized software program, whereas in the approach suggested here, these
are to be carried out by collective activity of humans as mediated by Global Brain technologies.
Our perspective is that the definition of collective human values is probably better carried out
via a process of human collaboration, rather than delegated to a machine optimization process;
and also that the creation of deep-sharing-oriented Internet technologies, while a difficult task,
is significantly easier and more likely to be done in the near future than the creation of narrow
AI technology capable of effectively performing CEV style extrapolations.

12.8 Possible Benefits of Creating Societies of AGIs

One potentially interesting quality of the emerging Global Brain is the possible presence within
it of multiple interacting AGI systems. Stephen Omohundro [Omo09] has argued that this is an
important aspect, and that game-theoretic dynamics related to populations of roughly equally
powerful agents, may play a valuable role in mitigating the risks associated with advanced AGI
systems. Roughly speaking, if one has a society of AGIs rather than a single AGI, and all the
members of the society share roughly similar ethics, then if one AGI starts to go ""off the rails"",
its compatriots will be in a position to correct its behavior.

One may argue that this is actually a hypothesis about which AGI designs are safest, because
a ""community of AGIs"" may be considered a single AGI with an internally community-like
design. But the matter is a little subtler than that, if once considers AGI systems embedded in
the Global Brain and human society. Then there is some substance to the notion of a population
of AGIs systematically presenting themselves to humans and non-AGI software processes as
separate entities.

Of course, a society of AGIs is no protection against a single member undergoing a ""hard
takeoff"" and drastically accelerating its intelligence simultaneously with shifting its ethical
principles. In this sort of scenario, one could have a single AGI rapidly become much more
powerful and very differently oriented than the others, who would be left impotent to act so as
to preserve their values. But this merely defers the issue to the point to be considered below,
regarding ""takeoff speed.""

The operation of an AGI society may depend somewhat sensitively on the architectures of
the AGI systems in question. Things will work better if the AGIs have a relatively easy way
to inspect and comprehend much of the contents of each others’ minds. This introduces a bias
toward AGIs that more heavily rely on more explicit forms of knowledge representation.

| The reader is encouraged to look at the original CEV essay online (http: //singinst.org/upload/CEV.
htm1) and make their own assessment.

HOUSE_OVERSIGHT_013149
"
IMAGES-005-HOUSE_OVERSIGHT_019104.txt,"promised that | would win. Why hast thou forsaken me?” And the voice

of God boomed out, “HEY, MITT, LISTEN--/ WAS JUST FUCKIN’ WITH YA

HOUSE_OVERSIGHT_019104
"
IMAGES-008-HOUSE_OVERSIGHT_026226.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_026226
"
IMAGES-001-HOUSE_OVERSIGHT_010820.txt,"oO oO nM PF WN

NNNNNN PRP PRP PPP PPP
nPwWNrF OW MN AH BWNHN RO

wo Om nDM PP WN EF

NNN NPR PPP PP PBR
WNP CHUAN DHN BW NH O

iS]
w

A. Who's -

Q. -~- of Composite Exhibit 10.

MR. SCOTT: Let me see the page you're
talking about so he can --

MR. SCAROLA: I've given you the entire
calendar.

MR. SCOTT: Come on, Jack.

MR. SCAROLA: I've given you the entire
composite --

THE WITNESS: So you're talking about my
wife's --

MR. SCAROLA: Fourth page -- fourth page
of Exhibit 10. You have Exhibit 10, I've given
a copy of that.

MR. SCOTT: I understand it and he has it
front of him and I'm trying to get him to the
right page. Thank you. Please take it down.

BY MR. SCAROLA:

Q. Fourth page, Composite Exhibit 10.

A. Yes.

Q. Friday, January 12.

A. Okay. That's very simple. We were both
in Cambridge and I had a massage in Cambridge. How
do I know that? Because it had basketball. And
that's where J play and watch basketball was in

oO adn wo PP WN FR

NN NNN NPP EP PP RP PP Pe
UB WN FP OO MN HU PWNHR OO

327

A. Uh-huh.

Q. Okay. Or from 3:30 to 4:15, that would be
a playing time for you in Cambridge; is that
correct?

A. You'd be asking me to speculate. I can't
speculate based on my wife's calendar. It says
utility bill, Reservoir address. That suggests
Cambridge. Reservoir is our house in Cambridge.

Q. So, it would appear that this is another
massage that you got somewhere?

A. But 1 would like to also say one thing. I
don't -- I at least wonder were these records
available to your clients at the time they made the
false accusations against me or arc they
aftcr-the-fact constructs designed to simply try to
find excuses to justify their false allegations? It
seems to me the latter is probably the case.

Q. And you are going to have an opportunity
through your counsel to ask those questions.

A. And we will.

Q. And my clients are anxious to be able to
answer those questions.

A. Not as anxious as I am to hear their
answers.

Q. Okay.

326

Cambridge. So probably I was in Cambridge if it
says B ball 3:30, 4:15 and says Cambridge with Ella,
so I'm sure | was in Cambridge.

Q. Allright. So-

A. But I'm -- I'm looking at my wife's
calendar. I can't tell you and nor can you tell me
where | was at that period of time.

Q. So, the basketball entries are references
to your watching basketball in Cambridge?

A. No. They could be playing basketball. J
played basketball in those days --

Q. Watching or playing basketball?

MR. SCOTT: Let him finish his answer,
please.

A. either watched basketball or played
basketball, yeah. 1 did not go to basketball games
in New York, to my recollection, unless the Celtics
were in New York and maybe we can check --

MR. SCOTT: You've got about five minutes,

Counsel,

BY MR. SCAROLA:

Q. The Celtics didn't play from 4:15 to 5:00,
did they?

A. No, but I did.

Q. You did?

oD MAH HP WN EF

328

MR. SCOTT: Okay. Let's wrap it up.

MR. SCAROLA: Not quite.

MR. SCOTT: Yeah, it's 12:30. I'm ending
this. That gives you three and a half hours.
We take a lunch break and then we have three
and a half.

MR. SCAROLA: We don't need three and a
half hours for lunch.

MR. SCOTT: No, I didn't say that, I said
we take an hour break and then we have three
and a half hours with your client, just like...

MR. SCAROLA: If -- if that's what you
want to do --

MR. SCOTT: That's the fair thing to do
because that's why we're dividing it equally
and I suggested that --

MR. SCAROLA: | will state -- J will state
for the record that Exhibits 2, 3 and 4 --
excuse me, Exhibits 9, 10, 11 and 12,
composite exhibits, directly conflict with the
witness's assertion --

MR. SCOTT: This is all a speech on your
part.

MR. SCAROLA: It is a speech.

MR. SCOTT: Itis a speech and --

38 (Pages 325 to 328)

www.phippsreporting.com
(888) 811-3408

HOUSE_OVERSIGHT_010820
"
IMAGES-012-HOUSE_OVERSIGHT_033206.txt,"From: Larry Visoski PF

Sent: 12/14/2016 2:34:21 AM

To: Je vacation [jeevacation@gmail.com]
Subject: Trump

Jeffrey

President Elect arrives Palm Beach on Friday 9pm ish,.
He also has a day trip Saturday departing PBI at 9am,. And returning 4pm,.
Just fyi for your Friday arrival time.

Thx
Larry

Sent from my iPad

HOUSE_OVERSIGHT_033206
"
IMAGES-003-HOUSE_OVERSIGHT_015171.txt,"McCAIN: Oh, you’ re referring to Matthew Scully and your
acceptance speech at the convention. He’ s great. By the way, he asked
me to pass on a line to you for the stump speech when you’ re talking
about Obama: “Charlie Manson was a community organizer!""

PALIN: That will definitely get a good response. We need as many
applause lines as we can muster up. Maybe every sentence should get a
reaction. Clapping, laughter, cheers. The audiences always get off on that.
They feel high and they associate it with us.

McCAIN: Fine, at least we’ re back on the same page again. Now
promise that if you do become vice president you won’ t arrange for me
to be killed by the grace of your powerful buddies in Alaska so that you
can then become president.

PALIN: Okay, | promise not to have you killed--unless you decide to
run for a second term. /They both chortle nervously.]

kok #

[The TV set is on, but nobody ts watching. A commercial Is playing.]

VOICEOVER BY ALEC BALDWIN: //mages of Sarah Palin waving to
huge, screaming crowds, signing autographs and being surrounded by
paparazzi] She’ s the biggest celebrity in the world. (Video footage of

Michael Jackson and Michael Richards are superimposed as if they are in

HOUSE_OVERSIGHT_015171
"
IMAGES-007-HOUSE_OVERSIGHT_024312.txt,"Table of Contents

Q: When will the results of the vote be announced?

The preliminary voting results will be announced at the annual meeting. The final voting results will be published in a current report on Form
8-K filed with the SEC within four business days of the annual meeting.

Q: What is the deadline for submitting a stockholder proposal or director nomination for the 2020 Annual Meeting?

Stockholder proposals pursuant to SEC Rule 14a-8 for inclusion in Carvana’s proxy statement and form of proxy for Carvana’s 2020 Annual
Meeting of Stockholders must be received by Carvana at our principal executive offices at 1930 W. Rio Salado Pkwy, Tempe, AZ, 85281, no later than the
close of business on November 15, 2019. Stockholders wishing to make a director nomination or bring a proposal, but not include it in Carvana’s proxy
materials, must provide written notice of their nomination or proposal to the general counsel and secretary at Carvana’s principal executive offices no later
than the close of business on January 24, 2020, and not earlier than the close of business on December 25, 2019, assuming Carvana does not change the date
of the 2020 Annual Meeting of Stockholders by more than 30 days before or after the anniversary of the 2019 Annual Meeting. If so, Carvana will release
an updated time frame for stockholder proposals. Any stockholder proposal or director nomination must comply with the other provisions of Carvana’s
amended and restated bylaws and be submitted in writing to the general counsel and secretary at Carvana’s principal executive offices.

-4-

HOUSE_OVERSIGHT_024312
"
IMAGES-011-HOUSE_OVERSIGHT_031871.txt,"38

emerged after World War II — the United States and the Soviet
Union — were engaged in an intense struggle for the eastern
Mediterranean after World War II, as can be seen in the Greek and
Turkish issues at that time. Neither wanted to see the British Empire
survive, each wanted the Levant, and neither was prepared to make a
decisive move to take it.

Both the United States and the Soviet Union saw the re-creation of
Israel as an opportunity to introduce their power to the Levant. The
Soviets thought they might have some influence over Israel due to
ideology. The Americans thought they might have some influence
given the role of American Jews in the founding. Neither was
thinking particularly clearly about the matter, because neither had
truly found its balance after World War II. Both knew the Levant was
important, but neither saw the Levant as a central battleground at that
moment. Israel slipped through the cracks.

Once the question of Jewish unity was settled through ruthless action
by David Ben Gurion's government, Israel faced a simultaneous
threat from all of its immediate neighbors. However, as we have seen,
the threat in 1948 was more apparent than real. The northern Levant,
Lebanon, was fundamentally disunited — far more interested in
regional maritime trade and concerned about control from Damascus.
It posed no real threat to Israel. Jordan, settling the eastern bank of
the Jordan River, was an outside power that had been transplanted
into the region and was more concerned about native Arabs — the
Palestinians — than about Israel. The Jordanians secretly
collaborated with Israel. Egypt did pose a threat, but its ability to
maintain lines of supply across the Sinai was severely limited and its
genuine interest in engaging and destroying Israel was more
rhetorical than real. As usual, the Egyptians could not afford the level
of effort needed to move into the Levant. Syria by itself had a very
real interest in Israel's defeat, but by itself was incapable of decisive

HOUSE_OVERSIGHT_031871
"
IMAGES-004-HOUSE_OVERSIGHT_017560.txt,"CHARITY TILLEMANN DICK

Charity Tillemann Dick is an American-born soprano and
a recipient of two double lung transplants. Charity has

performed across the United States, Europe, and Asia in venues

as diverse as the Rose Theater at Lincoln Center in New York
City; The Kennedy Center in Washington, DC; Severance Hall
in Cleveland, Ohio; II Giardino Di Boboli in Florence, Italy;
the National Palace of the Arts in Budapest, Hungary; the Tel
Aviv Opera House in Israel; the American Embassy in Beijing,
China; the United Nations in New York; and National Statuary
Hall in the United States Capitol. She has collaborated and
performed with noted conductors and musicians including
Eva Marton, Bruno Rigacci, Joela Jones, Marvin Hamlisch,
Bono, Zoltan Kocis, Joan Dornemann, and former Secretary
of State Dr. Condoleezza Rice. Some of her operatic roles
have included Titania in A Mid Summer’s Night Dream, Gilda
in Rigoletto, Violetta in La Traviata, and Ophelia in Ophelia
Forever. Charity has also performed for numerous presidents,
prime ministers, members of Congress, and world dignitaries.
After receiving a diagnosis of Idiopathic
Pulmonary Hypertension in 2004, Charity served as the
national spokesperson for the Pulmonary Hypertension
Association, working to raise awareness, increase federal
research funding, expand stem cell research, and promote
preventative and alternative medicine. In September of 2009,
Charity received a bilateral lung transplant at the Cleveland
Clinic in Ohio. After complications from rejection, Charity
received a second bilateral lung transplant in January 2012.
Since receiving her first transplant, Charity has
shared her amazing story and vocal talents at numerous
conferences, musical performance, and events, including:
TEDMED 2010 in San Diego, CA; the 6th National Learning
Congress on Organ Donation in Dallas, TX; the 2010 Empathy
and Innovation Summit in Cleveland, OH; and the EG
Conference in Monterey, CA. Charity has been featured on
CNN with Dr. Sanjay Gupta, CBS This Morning, Glamour
magazine, ABCNews.com, TED.com, The Huffington Post,
The Wail Street Journal Health Blog, the Cleveland Plain Dealer,
the San Francisco Chronicle, and The Sunday Times (London).
Her performances have been broadcast around the world on
CNN, CBS, BBC, FOX, MSNBC, PBS, C-SPAN and NPR.
Charity received a Bachelor’s degree with high
honors from Regis University in Denver, CO, where she was
raised with her 10 brothers and sisters. She later studied
music at the Peabody Conservatory at Johns Hopkins
University and the Liszt Academy of Music in Budapest. She
currently resides in Washington, DC and New York City.

GEOFFREY WEST

Geoffrey West is Distinguished Professor and former
President of the Santa Fe Institute (SFI) and an Associate
Fellow of the Said Business School, Oxford University. Prior
to joining SFI in 2003, he was leader of high energy physics
at Los Alamos National Laboratory, where he remains

a Senior Fellow. He received his B.A. from Cambridge
University in 1961 and his Ph.D. in physics from Stanford
University in 1966. After spells at Cornell and Harvard
Universities, he returned to Stanford in 1970 to join the
faculty. He was President of SFI from 2005-2009.

West is a theoretical physicist whose primary interests
have been in fundamental questions in physics and biology,
ranging from the elementary particles, their interactions and
cosmological implications to the origins of universal scaling
laws and a unifying quantitative framework of biology. His
research in biology has included metabolic rate, growth, aging
and mortality, sleep, cancer, and ecosystem dynamics.

His recent work has focused on developing
an underlying quantitative theory for the structure and

dynamics of cities, companies and long-term sustainability,
including rates of growth and innovation, the accelerating
pace of life, and why companies die, yet cities survive.

He has given many colloquia, keynote addresses
and public lectures world-wide. Awards include the Mercer
Prize from the Ecological Society of America, the Weldon
Prize for Mathematical Biology, and the Glenn Award for
Aging research. He has been featured in many publications
world-wide including The New York Times, Nature, Science,
The Financial Times, Time, Newsweek and Scientific American
and has participated in television productions including
Nova, National Geographic and the BBC. His work was
selected as a breakthrough idea of 2007 by Harvard Business
Review and, in 2006, he was named to Time magazine’s
list of “100 Most Influential People in the World”.

HOUSE_OVERSIGHT_017560
"
IMAGES-007-HOUSE_OVERSIGHT_022763.txt,"prosecute him (with the possibility of a 10-year sentence) and various
friends, associates, and lovers, or offers what seems to be unprecedented
deal 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 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, not to defend himself from their suits—forcing him
to settle with each of the girls for what are reportedly high 6-figure sums or
more.

He’s sentence to jail in 2008 for 18 months and serves 13 (while
Epstein is now frequently accused of somehow managing to cut short his
sentence, almost all Florida prisoners serve only 70% of their officially
sentenced time).

Jail hardly ends the legal catch all. Epstein's butler, Alfredo
Rodriguez, steals and tries to sell an alleged journal or calendar with
Epstein’s activities—but he tries to sell it to an undercover agent. Rodriguez
is sentenced to 18 months in jail on a charge of theft and of withholding
evidence (it is not so much a journal as a list of phone numbers, which were
apparently collected or saved by Rod Rodriguez; all of this material was
subsequently included in a court filing by Edwards). Scott Rothstein, a
lawyer whose firm represented additional girls in their suits against Epstein,
also goes to jail for recruiting investors to pay for these suits on the
fraudulent basis that settlements had already been reached. It’s the largest
fraud in Florida history and Rothstein receives a 50-year sentence.

Then, Brad Edwards, Rothstein’s former partner, sues the federal
government in 2008 for abridging the rights of two of the original
complainants under the Crime Victim Rights Act (giving victims the right to
be consulted about the disposition of their cases) regarding the Justice
Departments agreement not to prosecute in favor of the state action. In 2014,
Edwards tries to ad Virginia Roberts, another of the original complainants,
who has previously settled with Epstein, to the long-running suit. Roberts
who was paid a settlement under the original terms of Epstein’s agreement—
that he would pay attorney’s fees and not oppose any law suits against
him—is now trying to overturn the agreement under which she was paid,
and, with Edwards, further suing Epstein for $50,000,000.

HOUSE_OVERSIGHT_022763
"
IMAGES-009-HOUSE_OVERSIGHT_027571.txt,"Is Read: No

Is Invitation: No

r

GUID: 221 6ECFB-827E-4C2D-8ED7-76CE5S74FB805

Message: I think Whittaker gave him a heads up on troubles

Sender: e:jeeitunes@gmail.com

Time: 02/02/19 10:03:16 AM (570823396)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 4D92137B-0650-4FF8-BC08-29384A522C9

Gl

Message: Kathy said his humanitarian crisis. Crushes his n
Your textualist argument kills any defense of indictment.
constitution

Time: 02/02/19 10:03:23 AM (570823403)

Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 14001862-EEF6-40DE-AE11-2275AE190F13

Message: Including southern district?

Sender: e:jeeitunes@gmail.com

Time: 02/02/19 10:03:52 AM (570823432)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 821A0DAC-684F-4CA7-AA67-BCBB84508A56

Message: Dk

Time: 02/02/19 10:04:19 AM (570823459)
Flags: 1126401
Is Read: Yes

Is Invitation: No

Gl
co
oe)

GUID: D6é6BA2D3-06CD-42CC-B7 9D-E85CB2A5B

Message: ru flying out tonight?

Sender: e:jeeitunes@gmail.com

Time: 02/02/19 10:05:18 AM (570823518)
Flags: 1150981

Ts Read: No

ational emergency argument
As it is not in the

HOUSE_OVERSIGHT_027571
"
IMAGES-006-HOUSE_OVERSIGHT_021623.txt,"Page 1

09/30/2008
SENSITIVE / UNCLASSIFIED

Case Number: 31E-MM- 108062
Serial No.:

Stat Agent Name:
Stat Agent SOC.:

Does Accomplishment Involve

KRKEKKEREKRERE CHILD LOCATE REKKEEREREKE

Sub. Invest. Asst by Other FOs:

Investigative Assistance or Technique Used

FINAN ANALYST
AIRCRAFT ASST
COMPUTER ASST

LAB FIELD SUP
PEN REGISTERS
PHOTO COVERGE

UCO - NAT BACK
NCAVC/VI-CAP
CRIM/NS INTEL

VICT-WITN COOR
IO WANTED FLYR
SARS

CONSEN MONITR POLYGRAPH CRIS NEG-FED CART
ELSUR/FISC SRCH WAR EXEC CRIS NEG-LOC ASSET FORF PRO
ELSUR/III SHOW MONEY ERT ASST FORF SUPPORT P
ENG FIELD SUP SOG ASST BUTTE-ITC TFOS/CTD

ENG TAPE EXAM SWAT TEAM SAVANNAH- ITC CXS/CTD

LEGATS ASST. TECH AG/EQUIP POC-WRCSC INFRAGARD/CYD
EVIDNCE PURCH TEL TOLL RECS FT. MON-NRCSC OFC/CID
INFORMANT/CW UCO-GROUP I FOR LANG ASST PPP

LAB DIV EXAMS

UCO-GROUP II

NON FBI LAB EX

Assisting Agents SOC

rWN =

09/30/08 19:10:35

Report Date: 09/30/2008
Accom Date.: 06/30/2008

Subject Name

Drugs... 1. ee ee eee :N [| | [

A Fugitive... 2... 2. eee 2 N |

Bankruptcy Fraud. ......:N |

Computer Fraud/Abuse. .... :N | RA Squad_—s Task Force
Corruption of Public Officials: N | wees see es sss rsssccs
Money Laundering. ......:N | PBC PB2 SSPBC

Used, but did not help
Helped, Minimally
Helped, Substantially
Absolutely Essential

Living/Deceased: Living
Date Child Located: 06/30/2008

ENTERED UPON RECEIPT

SENSITIVE / UNCLASSIFIED

HOUSE_OVERSIGHT_021623
"
IMAGES-009-HOUSE_OVERSIGHT_027217.txt,"Source Entry: H\Macintosh HD\ root \Users\jee\Library\Messages\Archive\2017-03-23\ J

| CS 2017-03-19 at 12.10.08.ichat

Service: iMessag

Start Time: 03/19/17 09:10:08 AM (511632608)

End Time: 03/23/17 11:49:06 AM (511987746)

Last Message ID: 2592

Chat Room:

Participants: jcc,

Presentity IDs: e:jeeitunes@gmail.com,

Messages -

Sender: e:jeeitunes@gmail.com

Time: 03/19/17 09:10:08 AM (511632608)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 6611333B-76AC-44DA-BDB8-676D851C522A

Message: im glad it worked out.

Sender: e:jeeitunes@gmail.com

Time: 03/20/17 07:20:19 AM (511712419)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: BE610F7/75-150B-4BDE-88DF-F683AC7FAF12

Message: did you have a nice flight. will you see barry out there. sometime soon
we should drive to bard, and choose a dorm

Sender: e:jeeitunes@gmail.com

Time: 03/20/17 01:54:19 PM (511736059)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: DD82AE42-3678-44CE-9B22-A42E78138EE1

Message: will woody take a helicopter with us to bard?

Sender: e:jeeitunes@gmail.com

Time: 03/20/17 01:54:41 PM (511736081)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: C9BAODEB-052B-4A7D-8921-81BO07FO8CC54

Message: i dropped out of cooper union

HOUSE_OVERSIGHT_027217
"
IMAGES-003-HOUSE_OVERSIGHT_014509.txt,"22 The Virgin Islands Daily News

ST. CROIX ST. JOHN

Gerry Yandel, Executive Editor
Ken E. Ryan, Production Director
Onneka Challenger, Circulation Director

he Virgin Islands

DAILY ®NEWS

A Pulitzer Prize-Winning Newspaper

Founded Aug. 1, 1930, by J. Antonio Jarvis and Ariel Melchior Sr.
Published by Daily News Publishing Co., Inc.
Archie Nahigian, President

EDITORIAL BOARD

What's the speed limit

ST. THOMAS TORTOLA

J. Lowe Davis, Editor At Large
Lisa Jamil, Advertising Director
Juanita Young, Controller

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 speed-
ing problem.

According to the Merriam-Web-
ster 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

Lori Emery

drivers have no idea what the speed
limit is.

St. Thomas is an international
destination, and we have contem-
porary 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

The Daily News is always interested in publishing local views on topics of
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
or other original material about local issues of general interest to

letters@dailynews.vi
The Daily News’ opinions are expressed only in its editorials.
The opinions expressed in columns, letters, cartoons and
guest editorials are those of the particular author or artist.

OPINIONS

Tuesday, December 13, 2016

Where will Trump venture
for his first state visit?

Barbara Streisand and Lena Dun-
ham 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 long-
standing presidential and foreign policy
tradition.

Post-election, Trudeau quickly
called to congratulate PEOTUS Trump
on his victory and the Canadian tweet-
ed, “(W)e agreed to meet soon to keep
building the Canada-US relationship.”

Trump may want to use the high-
visibility first trip to do something
other than affirm tradition and reflect
the importance and strength of US.-
Canadian ties. He may want to make
a grand strategy statement, letting the
world know that he is going to shake-
up the global status quo.

Calls to Taiwan, support for the Phil-
ippines 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 well-
before Trump has even been sworn-in.

Once in office, Ronald Reagan be-
gan the tradition of new U.S. presidents
making Canada the first foreign presi-
dential 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, got-
ten 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

REMEMBER WHEN WE REVERED
AMERICANS WHo HAD THE
RIGHT STUFF?

Markos Kounalakis

out of the running for the primary re-
ception of America’s new head of state,
where might he go first?

There are any number of early sup-
porters in other countries who could be
rewarded and elevated by a presidential
visit. The scramble to send invitations
to Trump Tower has already begun.

UK. Prime Minister Theresa May
is considering an invitation on behalf
of Queen Elizabeth II. Trump’s friend-
ship 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 Lon-
don 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 Ko-
rea’s Kim Jong Un, Zimbabwe’s Rob-
ert 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 unprec-
edented moves were the hallmark of
Trump’s campaign: Is there a reason
to believe he would take a different ap-
proach 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 — may-
be 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 Arch-
bishop Charles Chaput is wrong in
his view that religious liberty in the
United States is under attack (Phila-
delphia 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

Richard Carroll

organization may believe that contra-
ception 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 organiza-
tion (the Knights of Columbus) for

HOUSE_OVERSIGHT_014509

30 years. Its 600 employees — most
of whom were non-Catholic women
— had access to contraceptive cover-
age through the employer-provided
health plan.

Freedom of religion means free-
dom 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
"
IMAGES-009-HOUSE_OVERSIGHT_028124.txt,"politics and vowing to defeat Labor, Bibi had seized on Oslo I to accuse Rabin
of “surrendering” to Arafat, and by extension to Hamas terrorism.

I couldn’t sleep the night before the cabinet meeting. I had no desire to be
disloyal to Yitzhak. I certainly didn’t want to add to the pressures on him, much
less add further impetus to Bibi’s rhetorical onslaughts. But the more I thought
of it, the less I could see the point of entering politics if I wasn’t going to vote
with my conscience. The cabinet meeting lasted for hours. It was near the end
that I spoke, calmly and in detail, about my reservations. Many of the ministers
seemed barely to be listening. They’d long since made up their minds. But when
I’d finished, two ministers passed me notes. Both said the same thing: Ehud,
don’t do anything crazy. Don’t vote against it. So I didn’t. But I couldn’t vote
for it either. I abstained.

Rabin was bitterly upset. He didn’t tell me directly. But when the meeting
broke up, his longtime political aide, Eitan Haber, took me aside to tell me how
that what I’d done was “terrible”. Giora Einy came to see me the next day, after
Rabin had phoned him in a mix of anger and disbelief. “What is this,” he’d
asked Giora. “The first big vote, and Barak abstains?” It wasn’t until a few
weeks later that Rabin and I spoke alone, over a beer in his office. He didn’t
raise the question of the vote. So I did. “Yitzhak, I understand it’s caused you
pain,” I said. “But I think you understand I was acting out of what is genuinely
my belief and my position.” I asked him why, unlike the other ministers, he
hadn’t passed me a note before we’d cast our votes. “Ehud,” he said, “I never
write requests or orders on how to vote. Ministers must vote according to their
conscience.” He didn’t mean what I’d done was right. He meant my conscience
should have told me, given the importance of the issue, to vote yes.

The tension between us did ease somewhat in the weeks ahead. But the
tension around us escalated after the cabinet vote. Opinion polls showed the
country split down the middle. Settlement leaders and extremist rabbis launched
a campaign against the legitimacy of the government, and of Rabin as Prime
Minister. Right-wing religious leaders issued a decree rejecting the planned
redeployments on the West Bank — “the evacuation of bases and their transfer to
the Gentiles” — as biblically prohibited. A new group called Zu Aritzenu
organized a campaign of civil disobedience to try to bring the government
down.

The sheer venom hit home during a pair of events I attended with Rabin, to
award of the status of “city” to towns which had crossed the required threshold
in population and economic activity. By tradition, this was marked by a

276
HOUSE_OVERSIGHT_028124
"
IMAGES-006-HOUSE_OVERSIGHT_021145.txt,"The Billionaire’s Playboy Club
By Virginia Roberts

To my true love Robbie who believes in me every step of the way and
to all of my children, you are all my very inspirations!

Chapter!

Every single person in this shared world together has a unique story of
his or her own to tell, this one is mine.

It was coming up to my third night camping out at Miami Beach in the
summer of 1997. [ was thirteen years old and hiding from a world full of
hurt. Sitting on the shoreline for hours watching the sunset fall deeper
into the horizon, my eyes were glazed over with tears, not from being
wind-whipped by the rough sea breeze, but from reflecting on the abuse I
encountered as a young girl and how everyone in my life who was
supposed to be there for me had now turned their backs on me in
abandonment. My fears crept up and the excitement of escaping all of
them faded now realizing how alone I really was now, and for the hunger
that was paining my belly. At this point, with nowhere to go and only
time to waste, I wiped the tears from my eyes and set out to find an
empathetic person that I could manage to get dinner money from. If not,
it wouldn’t have been the first time I had gone hungry for the night. |
walked to the nearest bus stop and asked a handful of people for any
spare change, none of whom that could help me. Sitting down on a
nearby curb disappointed in grief of my current state, I put my head into
my knees and began to sob.

Out of nowhere, it seemed, a black stretch limousine turned the comer
and stopped in front of the curb where I had been hopelessly lost. The
back door opened to reveal a heavy weight and balding, old man with a
big cheesy smile. Neatly dressed in black trousers and a collared shirt, he
was sitting next to a striking young, blonde girl, drop dead beautiful and
dressed in a foxy red mini dress she looked like a model just stepping off
a runway.

Their smiles greeted me warmly and he kindly asked, “What is such a
sweet little girl like you doing sitting alone on the street looking so
upset?” Shocked from this strangers concern | was hesitant in telling him
the truth. Reluctantly | decided to tell him that I was a runaway, not from
around here and really hungry. Hoping at most, I would get some money
for food from him. He instantly displayed a chilling excitement and
offered me to come into his car so we could talk some more. That

| Copyright Protected Material
CONLIDENTIAL GIUFFREO04 134

EXHIBIT 4
0 Copyright Protected Material

should’ve been my first queue to get out of there quick but with no where
to go, and so naive [ didn’t realize how much worse it could get. Setting
foot into that limo, I made my first entrance into a world that would
entrap me for many years to come.

He introduced himself immediately as Ron Eppinger, a businessman
and owner of a successful modeling agency, called “Perfect 10”.
Flaunting his oozing wealth by introducing one of his many girlfriends,
the beauty next to him was Yana, a supposed model from the Czech
Republic who looked like she could be in her early twenties with the
heavy load of makeup she was wearing, but really was only in her late
teens. She kissed me on both cheeks and politely satd “Hello” in a thick
Czech accent, making me feel a little more at ease. Convinced it couldn’t
be that bad there was another girl in the car, right? | couldn't be more
wrong.

What he didn’t tell me to begin with was that his modeling agency was
only posing for an undercover trade. By the time I found out f thought it
was too late to run. His business was really an illegal immigrant
trafficking ring of young women mostly consisting of underage girls that
he was using as escorts to make him uber rich. Only available to a
selective clientele costing them anywhere from $1000.00 and over per
hour of erotic entertainment, the girls were trained to fulfill every sexual
desire asked of them, no matter how bizarre the requests might be. The
high paid escorts, for Ron’s super rich clientele, such as Yana and many
other charismatic beauties would only benefit a fraction of their earnings
for themselves, Ron reaping in the majority of the financial rewards and
being they were all illegal immigrants they were further trapped by his
enslavement.

I proceeded to introduce myself, besides what he had found out about
me on the curbside. Telling him my name and a little about how I ended
up on the streets explaining that I could take care of myself and didn’t
need my family or anyone to look after me anymore. Looking back later
in life I can now admit I was ina terrible state, but being such a
headstrong teenager, I refused to give in. He asked my age and J told him
I was sixteen at first. He coyly replied, “Are you sure? I think you could
be telling me a fib? How old are you... really? I wont be mad” Being a
terrible liar, 1 knew had been caught out and couldn’t deny it any further.
I told him the truth and he chuckled then paused and answered in a very
serious tone “ As long as you never lie to me again I will take you in”
Right away | pondered to myself what did he mean...take me in?

He gave the driver the location of our destination and rolled the middle
window back up to then tell me a story of how his daughter had passed
away seven years ago from a horrific car accident in which four other
teens were killed and he has never gotten over it. | reacted with sheer

GIULFRLO04 135

2
AGREN BLANDO REPORTING
Blaie Iam

HOUSE_OVERSIGHT_021145
"
IMAGES-004-HOUSE_OVERSIGHT_017206.txt,"4.2.12
WC: 191694

Chapter 7 Disclosure of Secrets: From Pentagon Papers to Wikileaks

The conflict between national security and free expression is a real one. It must be confronted
and resolved by every society committed to civil liberties yet concerned for its safety. In this
respect, the situation is different from the alleged conflicts that motivate the censorship of
supposedly obscene material: in most obscenity cases, the “conflict” is contrived and need not
exist at all. There is ample room in a diverse and free society for accommodating the desires of
those who get pleasure from porn and those who feel the need to be protected from the intrusion
of offensive material. The guiding principle that “your right to swing your fist ends at the tip of
my nose” suggests a workable approach to the regulation of merely offensive material. But there
is no simple rule for the accommodation of free expression and national security, where the
expression may expose our security to real danger.

No reasonable person can dispute the reality that there are “necessary secrets,” like the names of spies,
the movement of troops, the contents of codes and ciphers, the location of satellites and the nature of
secret weapons. Nor can any student of history doubt that there are unnecessary secrets, like old and
useless information that remains classified by bureaucratic inertia. There is also information kept secret
under the pretext of national security but really in order to protect the reputation or electability of
government officials. And then there is the most interesting category of secrets — those that are
genuinely designed to protect national security in the short run, but whose disclosure may well serve
the national interest in the long run. (An example of this last category, at least with the benefit of
hindsight, was the decision by The New York Times to withhold publication of the Kennedy
administration’s imminent intention to invade the Bay of Pigs in Cuba. Had it disclosed this
information, the fiasco might have been called off, many lives saved and America’s reputation less
tarnished.)

The most controversial genre are secrets whose disclosure would, in the reasonable views of the
government, endanger national security, but whose disclosure, in the equally reasonable view of the
press, might ultimately serve the national interest. The real issue is not whether such secrets should be
published, since that question will often be a close one about which well-intentioned people will
disagree. The real issue, as it often is in a democracy, is who should be entrusted to make this real-time
decision.

The other difficult issue is not whether, but when to publish. In a democracy, there should be no
permanent secrets, since history and accountability are paramount. The public must ultimately know
everything its government has done in its name, but sometimes it is necessary to postpone publication
until an immediate danger has passed, since in the modern world, there is no way of disclosing secrets
to friends without also disclosing them to enemies.

There is no “one size fits all” solution to this daunting conflict, but there are some useful
guidelines in striking the proper balance. In the first place, the vast majority of c/aims that
national security will be endangered by free expression are simply not true; most such claims are
probably not even believed by the government officials who assert them. The talismanic phrase
“national security” is often invoked as a transparent cover for convenience, for political
advantage, and for protection from personal or political embarrassment. Every claim of national

119

HOUSE_OVERSIGHT_017206
"
IMAGES-004-HOUSE_OVERSIGHT_018135.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_018135
"
IMAGES-008-HOUSE_OVERSIGHT_025049.txt,"Israelis and Palestinians, particularly Israeli
Prime Minister Benjamin Netanyahu.

But hey, that was then. A second-term
president has committed himself early in
2013 to a trip to Israel and has an Energizer
bunny in Secretary of State John Kerry,
who wants to do the right thing and keep
the two-state solution alive. Obama clearly
kept his distance from the issue again on
Tuesday night. He spoke of standing with
Israel to pursue peace, but didn't mention
Palestinians or the peace process. He
mentioned his own trip to the Middle East,
but missed an opportunity to give what
might be a trip to the region by his new
secretary of state higher profile. It's just as
well. The paradox of the Israeli-Palestinian
issue 1s that it's too complicated to
implement right now and too important to
abandon. It's in this space that Obama will
be forced to operate. And while the odds of
success are low, Obama will be tempted in
his final term to do something bold,
perhaps laying out a U.S. plan of
parameters on the key final-status issues.

It's the Middle Class, Not the Middle East

Spoiler alert: Barack Obama might still be
a consequential foreign-policy president if
he's lucky, willful, and skillful. But it's his
domestic legacy that will make or break his
presidency. Health care -- his signature
legacy issue -- will look much better if the
economy improves, driven by a revived

HOUSE_OVERSIGHT_025049
"
IMAGES-012-HOUSE_OVERSIGHT_033560.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_033560
"
IMAGES-003-HOUSE_OVERSIGHT_015617.txt,"e. There shall be a special master, paid by the Defendant, present at the
deposition, to rule on objections.

f. The Defendant Alan Dershowitz can be present at the deposition,

g. The deposition will be limited to the issues of this case without prejudice for
another deposition, if required, in the future, The issues and said limitations

will be determined by the special master.

DONE AND ORDERED in Broward County, Florida on this day of November,
2015, i

han

Honorable Ju ga Saal
Circuit Judge :

cc: Counsel of Record

HOUSE_OVERSIGHT_015617
"
IMAGES-007-HOUSE_OVERSIGHT_024474.txt,"Organizational Structure — Pro Forma for Funding of $7 Billion. All figures are rounded.

Principals

Knowledge Universe Holdings LLC,
a Delaware limited lability company

Knowledge Universe Learning Group LLC,
a Delaware limited liability company
“KULG”
Investors
900
Class B

Shares Knowledge Universe Education LLC,

a Delaware limited liability company
“KUE LLC”

1,000,000
Class A
Shares 1,530,000
—— = ClassA
UE

Shares

11% Profits
Participation
Interest
Limited
Partner”

41,530,000
Common LP
Units

Approx.
1,000
General
Partner Units

1,000,000
Common
LP Units

17.9% to 40.0%""

KU Education Inc
“KUE Inc.”

Knowledge Schools, Inc.

Knowledge Learning
Corporation
“KLC”

"" KUE owns preferred stock that is convertible into 17.9% of k12's Common Stock. KUE’s ownership varies depending on the liquidation value or
sale value of k12 and according to the preference of the various securities KUE owns. At higher valuations, KUE’s percentage ownership is lower.

See “k12 Inc. (k12) — k12 Equity.”
* Of those Profits Participation LP Units outstanding immediately after the offering, 2/11ths will be allocated or held for the benefit of persons other

than the Principals or their affiliates.

A

HOUSE_OVERSIGHT_024474
"
IMAGES-001-HOUSE_OVERSIGHT_011280.txt,"From: Ens, Amanda

Sent: 12/9/2016 4:03:45 PM
To: jeffrey E. [jeevacation@gmail.com]; Richard Kah ie
Subject: RE: Financials: buy XLF call spreads

Attachments: image001.png

Importance: — High

Thank you Jeffrey. Notional is $14,285,000. I'll be back with final trade details.

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Friday, December 09, 2016 10:56 AM

To: Ens, Amanda; Richard Kahn

Subject: Re: Financials: buy XLF call spreads

lets try, 250k premium

On Fri, Dec 9, 2016 at 11:46 AM, Ens, Amanda EE wrote:

We continue to see further upside in financials.

e —_ Erika Najarian, BAML financials research analyst, just returned from a marketing trip. Bottom line: North American
investors are very bullish the banks (long only AND hedge funds AND macro funds), but then conclude “I don’t own
enough”. Note that high touch flows have slowed down significantly since Thanksgiving and where the buying has been
concentrated in XLF (every client sector we have has been a better buyer of XLF).

e = Client focus:

1) Regulation: Excitement, with the base case that it’s not getting worse.
2) Sentiment on rates: Cautiously bullish

3) Sentiment on growth: Also bullish

4) Sentiment on corporate tax rate cuts: buyside more bullish than sellside. In 1986, bank stocks exploded upward
(outperforming the S&P) after Reagan’s tax reform bill passed the Senate; and 2) in 2003, the last time we saw personal
tax cuts, loan growth industry wide accelerated in 2003 and 2004.

e Biggest Pushback on owning sector at current levels: Too far too fast: BKX +18.00% post election: Valuation coming
into question and Q4 has typically been a seasonally weak gtr. Bulls defend valuation on ‘18ests with potential upside to
2018 EPS from ~25-40% and stocks still cheap vs. discretionary.

e Price action and sentiment keeps us constructive, we like the long and would expect US financials to benefit from
any beta chase into year end.

e Howto play it? Westill like “appearing” call spreads on XLF

o Buy a6 month 105% call with a short 110% call that knock in if XLF trades above 115% during the life of the trade
for 1.75% premium cost

"" Gross max payoff if knock-in is triggered: 2.8x (5.0%/1.75%)
"" Gross max payoff if knock-in is not triggered: 5.6x (9.9%/1.75%) — you have upside up to 114.9%

HOUSE_OVERSIGHT_011280
"
IMAGES-002-HOUSE_OVERSIGHT_012531.txt,"( Page 17 |

Q. Okay. Now when we're talking about more
than just a massage, what sort of conduct are we talking
about that might have occurred?

A. It was probably mostly -~ maybe not, not

particularly oral, but,

Q. Okay. So let's put it into perspective.
You certainly never had intercourse with him, right?
A, No.
Q. And did you actually ever really have oral
sex with him?
C A. Maybe once or twice. I barely even
remember that.
Okay.
I mean it was all just mostly --
I'm sorry. Mostly what?
A. Mostly like hand oriented.
Q. Okay. So on occasion you would touch his
penis with your hand?
A, It's happened a few times,

Q. Okay. And anytime that occurred it would

be totally voluntary on your part?

A.

HOUSE_OVERSIGHT_012531
"
TEXT-001-HOUSE_OVERSIGHT_027365.txt,"Source Entry: H\Macintosh HD\ root\Users \ j ee\Library\Messages \Archive\2 0 1 8 - 0 7 -3 1 `. 
on 2018-07-31 at 06.36.05.ichat 
Service: iMessage 
Start Time: 07/31/18 03:36:05 AM (554726165) 
End Time: 07/31/18 01:11:15 PM (554760675) 
Last Message ID: 18120 
Chat Room: 
Participants: jee, 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:36:05 AM (554726165) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: C8F0205D-F050-48E4-937C-FDOE860CC3DA 
Message: don't forget to visit dr kruger, I need you alive and healthy for the long 
game 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:36:36 AM (554726196) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: F862756B-92CD-4069-96E2-E40AF7A7F3B6 
Message: no you no movement, simple math 
Sender: 
Time: 07/31/18 03:41:51 AM (554726511) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: D40CDC90-0EFC-4FC2-8259-A76346179FA1 
Message: Yes : agree 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:43:53 AM (554726633) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: FA91A7F5-050E-4094-AD46-85DAB78DBFE3 
Message: agreeing is easy. getting it done more important 0 . I spoke to him you 
HOUSE OVERSIGHT 027365 
will get everything in the office. no press , my private area. 
chest x-ray full blood. . you can go im 24/7 
Sender: 
Time: 07/31/18 03:44:13 AM (554726653) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 3ED1909F-4F16-4C0B-85A6-613BF3EE9920 
Message: Thanks 
cat scan heart . 
Sender: 
Time: 07/31/18 03:44:35 AM (554726675) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: C1CDEFD2-299F-47F8-8887-DE09665DA6BD 
Message: Did u see trump just took my script and lit up the Koch's !!!! 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:44:44 AM (554726684) 
Flags: 1085445 
Is Read: No 
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GUID: 70DE49D3-002A-445A-A95E-E425A5CC3FB9 
Message: yup 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:45:21 AM (554726721) 
Flags: 1085445 
Is Read: No 
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GUID: 002283B1-2E09-46EE-8FB7-438E711A5399 
Message: im serious about davids dementia. . he is out. so it is only charles. 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:46:17 AM (554726777) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: EF668920-6528-4528-B400-DEA4AEB589FD 
Message: i guess it would be cruel to point out that the only reason for their position 
is davids dementia. I would find it funny , but not many others would 
HOUSE OVERSIGHT 027366 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:49:26 AM (554726966) 
Flags: 1150981 
Is Read: No 
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GUID: D92324B1-9052-4EB1-8406-A06C4191E685 
Message: btw as i said turkish lira weak !! nov 2016 
Sender: 
Time: 07/31/18 03:49:37 AM (554726977) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 8F47869D-2D61-44C3-BA3C-E2F5C61E03C7 
Message: David was such a bad guy-- treated folks like shots 
Sender: 
Time: 07/31/18 03:50:06 AM (554727006) 
Flags: 1060865 
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GUID: 0E04B29E-A19D-4825-A7EE-4E4912EBE3A8 
Message: China -Persia- Turkey having bad run 
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Time: 07/31/18 03:50:54 AM (554727054) 
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Is Read: No 
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GUID: 7077F6DE-CC9F-4BFA-A5D3-5B76FODE3E03 
- 3.15. today 4.9 
Message: he now sits in his living room. turning the lights on and off, as that is 
the only thing he is able to control. drives his nurses crazy 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:53:20 AM (554727200) 
Flags: 1085445 
Is Read: No 
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GUID: 19FE60C4-7725-48F7-B9B1-6F432CECBBB8 
Message: persia was a cultured place. super smart. it died like the city of 
atlantis . It is Iran. 
Sender: e:jeeitunes@gmail.com 
HOUSE OVERSIGHT 027367 
Time: 07/31/18 03:54:26 AM (554727266) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: AC749431-2B05-4FAE-8886-BF42833516F8 
Message: otherwise you might be tempted to call libya rome 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 03:58:27 AM (554727507) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: ACDBOE6E-8044-4ADB-8254-AD674D27EF55 
Message: russian ruble unchanged . . says slot 
Sender: 
Time: 07/31/18 03:59:44 AM (554727584) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 8736B500-3BA6-4BC3-990B-86E5F2A608D2 
Message: What does ruble tell me 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 04:03:54 AM (554727834) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 6A9431C6-AB59-46DF-9B74-C14230811BC8 
Message: trump is right in trying to bring them into a partnership. 
Sender: 
Time: 07/31/18 04:04:14 AM (554727854) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 59699D2B-BB02-400A-AFF8-BFB8823A1890 
Message: Yes!!! 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 04:04:23 AM (554727863) 
Flags: 1085445 
HOUSE OVERSIGHT 027368 
Is Read: No 
Is Invitation: No 
GUID: 56D5313C-34D2-4360-8B42-B66377864318 
Message: putin has been kind so far , not to point out , how the us involves itself in 
others elections 
Sender: 
Time: 07/31/18 04:04:58 AM (554727898) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: E87A72E7-035E-4D66-BAEA-9E3B09865118 
Message: LOL 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 04:07:26 AM (554728046) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 34CC8AF4-30E0-4397-9779-64744599CCO6 
Message: hasn't pointed out assasinations to overthrow govts . . coup funding. . 
imran kahn in pakistan , a much greater threat to peace than erdogan . khomeni. xi or 
putin 
Sender: 
Time: 07/31/18 04:07:52 AM (554728072) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 5789F583-7159-421A-A412-44713667B53B 
Message: The populist in Pakistan ??? 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 04:08:34 AM (554728114) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: A3382B63-7799-4A51-859E-1B4A9870A37B 
Message: really bad news. 
Sender: 
Time: 07/31/18 04:09:28 AM (554728168) 
Flags: 1060865 
Is Read: Yes 
HOUSE OVERSIGHT 027369 
Is Invitation: No 
GUID: F3BC9062-3570-473D-87BF-12EA14A9AC92 
Message: The cricket player?-- how could he be worse that the Islamist ? 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 04:14:14 AM (554728454) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: B52028CC-7514-4513-8975-5B823560F831 
Message: makes donald look like einstein. Incapable of truth. , devout islamisist . 
many nuclear weapons. ( not erdogan or khomeni). he was married to two friends of 
mine, one daughter of jimmy goldsmith. super wealthy take over guy. forced her 
to convert. wacko 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 04:15:37 AM (554728537) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 14FA760E-29A6-46B4-A4D3-916809764B12 
Message: it follow your prediction around cults of personality . he is a cricket 
captain. . not a chess player , but he's good at rousing the crowd 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 04:56:53 AM (554731013) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: FF6D5FDA-EC23-4D15-881A-55DC645C3246 
Message: any questions for pritzker , he will be here from 2 to 330 if you would like 
to ask yourself. can we use csis for anything ? tom has GREAT relations in 
china. 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 05:50:28 AM (554734228) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: DOB91F78-EF75-4786-B648-E4E0D082D036 
Message: https://www.youtube.com/watch?v=FuaMR8d4xJo 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 05:50:28 AM (554734228) 
Flags: 1085445 
HOUSE OVERSIGHT 027370 
Is Read: No 
Is Invitation: No 
GUID: DDA1DDDA-FEB1-4B47-8E16-D7C4D0738DA5 
Message: if you have time, lavrov is the best of his kind 
Sender: 
Time: 07/31/18 05:56:05 AM (554734565) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: EF581412-1E25-4220-82B2-68FB3D860964 
Message: Tom is totally sold out to china -- csis carries 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 06:00:29 AM (554734829) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: E69512F1-F1F3-444D-83CD-BFOC1333DA90 
Message: im told that some of the party members there wanted to chop of his head. so 
im not clear 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 06:15:02 AM (554735702) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 07AA72EF-6807-49D8-9091-B4C51503DA5C 
Message: Kruger said less than one hour to do all. iIm doing my best to 
whittle away at your future reasoning 0 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 09:42:40 AM (554748160) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: B901E629-349F-4764-8CCA-56726146E3AF 
Message: https://www.vox.com/2018/7/31/17595988/ethiopia-eritrea-peace-abiy-ahmed 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 09:40:32 AM (554748032) 
Flags: 1150981 
Is Read: No 
HOUSE OVERSIGHT 027371 
Is Invitation: No 
GUID: B37A1648-9972-4BF6-B887-814D76E4D978 
Message: . As advertised 
Sender: 
Time: 07/31/18 09:46:24 AM (554748384) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 75E074DB-F6C2-4DC6-A3BC-EE05280C0EAE 
Message: Yep 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 09:48:54 AM (554748534) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: B0926510-FDD4-40CF-A13A-413D52CB052E 
Message: And and both will have a private dinner with yuou 
Sender: 
Time: 07/31/18 10:19:58 AM (554750398) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: CB87B188-CDF2-4384-BCC7-0CD4A375ED3A 
Message: Very cool 
Sender: e:jeeitunes@gmail.com 
Time: 07/31/18 01:09:11 PM (554760551) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 648D5132-1A4A-489B-B45A-4EB54802DA7F 
Message: No space between yours and toms view on china. He now has a detailed story of 
how . Hes off to see kissinger to bounce it off him . You will like it 
Sender: 
Time: 07/31/18 01:11:15 PM (554760675) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 82FE32E5-0441-438A-9E73-BC8A7440954F 
HOUSE OVERSIGHT 027372 
Message: Brilliant 
HOUSE OVERSIGHT 027373 
"
IMAGES-002-HOUSE_OVERSIGHT_014140.txt,"OGL 988 OLL2 (0) pe (d
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HOUSE_OVERSIGHT_014140
"
TEXT-001-HOUSE_OVERSIGHT_031507.txt,"From: Thomas Jr., Landon 
Sent: 10/19/2016 2:28:11 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Saudi money 
Importance: High 
On Wed, Oct 19, 2016 at 10:26 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
number 
On Wed, Oct 19, 2016 at 9:55 AM, Thomas Jr., Landon IMMIIM> wrote: 
I have spoken to a lot of ceos of fund outfits who say Saudis have been pulling billions of dollars in 
separate account money -- not just from BR. And plus I cant believe they would have so much tied 
up in lock ups. 
On Wed, Oct 19, 2016 at 9:48 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
sorry, no good handle without digging 
On Wed, Oct 19, 2016 at 9:47 AM, Thomas Jr., Landon <______________________> 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 < > 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 
HOUSE OVERSIGHT 031507 
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:) 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/i  
ndex.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/in  
dex.htnnl  
HOUSE OVERSIGHT 031508 
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 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
HOUSE OVERSIGHT 031509 
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 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.h  
tml 
HOUSE OVERSIGHT 031510 
"
IMAGES-005-HOUSE_OVERSIGHT_019662.txt,"174 | HOW AMERICA LOST ITS SECRETS

SHEVARDNADZE: SO he [Snowden] does have some materials that
haven’t been made public yet?
KucHERENA: Certainly.

Shevardnadze asked the next logical question: “Why did Russia
get involved in this whole thing if it got nothing out of it?”

“Snowden spent quite a few years working for the CIA. We haven’t
fully realized yet the importance of his revelations.” Kucherena was
on the FSB’s public oversight board. He was clearly in the picture.
Kucherena’s answer was completely consistent with the statement
Snowden made three weeks after arriving in Russia in his previ-
ously mentioned e-mail to Senator Humphrey.

It is certainly possible that Snowden transferred the NSA files
from his own computers and thumb drives to storage on a remote
server in the cloud before coming to Russia. The “cloud” is actually
not in the sky but a term used for remote storage servers, such as
those provided by Dropbox, Microsoft, Google, Amazon, and other
Internet companies. Anyone who is connected to the Internet can

© store and retrieve files by entering a user name and a password. ©

For Kucherena to be certain Snowden had access to the so-far-
unrevealed data, Snowden must have demonstrated his access either
to him or to the authorities. The Russians obviously knew Snowden
had the means to retrieve this data one way or the other. Because the
data concerned electronic espionage against Russia, the FSB would
have been keen to obtain the documents, and the FSB is not known
to take no for an answer in issues involving espionage.

Even if Snowden refused to furnish his key encryption, accord-
ing to a former National Security Council staffer, the Russian cyber
service in 2013 had the means, the time, and the incentive to break
the encryption. It is unlikely it would have had to go through the
trouble. It doesn’t take a great stretch of the imagination to conclude
that, willingly or under duress, Snowden shared his access to his
treasure trove of documents with the agencies that were literally in
control of his life in Russia.

Kucherena’s answer on the television program may also help to
explain Putin’s decision to allow Snowden to come to Moscow. It
was not a minor sacrifice for Putin. His foreign minister, Sergei Lav-

| | Epst_9780451494566_2p_all_r1.z.indd 174 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019662
"
IMAGES-005-HOUSE_OVERSIGHT_018568.txt,"realize this, and we understood that a lot of sexual fantasies are socially constructed by
the times that shaped us. Many of us came to realize that sexual fantasies don't diminish
us as people -- they can actually help free and enrich us when we understand what we're
doing.

I'm reluctant to put myself forward as a role model for BDSM and sex work, because of
what happened to me after AIDS when I went back to hustling. I was furious that there
was no place in the community for me to do safe sex education. I felt so hurt that some
people only saw me as a sex worker/sadomasochist and that political differences got in
the way of saving sexually active gay men's lives. You can't imagine the rage I felt that it
took two entire years after we wrote and published ""How to Have Sex in an Epidemic""
for NYC to do its first safe sex campaign. I went back to hustling in such despair that I
was an addiction waiting to happen, and that's what did.

In the end, though, BDSM and my love for it is part of what saved my life. If I weren't so
busy hustling with BDSM before AIDS and safe sex, I would have spent much more time
at the baths having high risk sex, and died long ago. I think each of us has a limit to how
much sex and how many different partners our spirits can bear. Sex can become an
addiction, and when you reach that point, people use recreational drugs to keep that level
of hypersexual activity going. If I had found a place in safe sex education, my life would
have been a much happier, healthier journey. But I never lose sight of how grateful I am
to still be here, or how much joy and pleasure sexual freedom gave me until the world I
loved started collapsing all around me and taking the men I loved along with it.

TK OK ok
This can be found on the Internet at:

http://clarissethorn.com/blog/2009/03/23/interview-with-richard-berkowitz-star-of-sex-
positive-and-icon-of-safer-sex-activism/

Check out Richard Berkowitz's web site to read more about him and investigate his book
(which I admit I have not read), Stayin' Alive: The Invention of Safe Sex:

http://richardberkowitz.com/

And seriously, if you get the chance, watch Daryl Wein's awesome documentary Sex
Positive:

http://www.sexpositive-themovie.com/

ABUSE:
[theory] Social Responsibility Within Activism

I wrote this post in 2010 for Thanksgiving (the original post had a bunch of ""thank yous""
at the end, which I removed from this version). The questions here seem to be some of the

HOUSE_OVERSIGHT_018568
"
IMAGES-002-HOUSE_OVERSIGHT_012525.txt,"—_

. ‘Reporting and Trusciption, Ino,

Right.

Q. Okay. So aid tell you what to expect

when you went there, as far as keeping your clothes on or

taking your clothes off?

A. It was no problem. He wouldn't be upset.
Q. All right. so told you there would be
no pressure on you whatsoever?

Right.

Yes,

And if you didn’t want to do something, you

All right. And in your experiences with

HOUSE_OVERSIGHT_012525
"
IMAGES-001-HOUSE_OVERSIGHT_011294.txt,"Esu Origins - ‘February 24 ~ 26, 2017
PROJECT An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:

Envisioning and Addressing Adverse Outcomes

ARIZONA STATE UNIVERSITY

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

11

HOUSE_OVERSIGHT_011294
"
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HOUSE_OVERSIGHT_014154
"
IMAGES-006-HOUSE_OVERSIGHT_022458.txt,"Inference: International Review of Science

Feedback & Comments

George Scialabba
Contributing editor of the online art and literary magazine The Baffler.

“T look forward to reading it, as usual.”

James Sharpe
Professor of Early Modern History.

“Again, my thanks for having been sent this, and I would like to extend my best wishes for the

a?

future of Inference.

Lawrence R. Smith

Entrepreneur, former academic, and a specialist in the Inuktitut (Eskimo) language for
computational linguistics research.

“T appreciate your editorial work and have admired Inference since its inception.”

Wolfgang Streeck

Director Emeritus and Professor at the Max Planck Institute for the Study of Societies in
Cologne.

“Looks very good.”

Ian Tattersall
Paleoanthropologist, American Museum of Natural History in New York City.

“Please thank your staff for a very nice production job. It has been a pleasure working with you,
and I would be delighted to repeat the experience some time. Thanks again for showcasing my

a?

work.
Mariam Thalos

Professor of Philosophy at the University of Utah.

“Tam very gratified by your invitation, which I will be very happy to accept (and propose a
topic) if you would still like me to do so after reading this email.”

14

HOUSE_OVERSIGHT_022458
"
IMAGES-005-HOUSE_OVERSIGHT_019676.txt,"188 | HOW AMERICA LOST ITS SECRETS

the CIA officer Harold Nicholson, in 1996. Before it could expand its
espionage capabilities, it needed to build a network of Russian agents
in the United States. For this network, it needed to groom so-called
illegals, or agents who were not connected to the Russian embassy.
This so-called illegals network was necessary because presumably
all Russian diplomats, including the so-called legal members of Rus-
sian intelligence, were under constant surveillance by the FBI.

Advances in surveillance technology in the twenty-first century
made it increasingly difficult to communicate with recruits through
its diplomatic missions. To evade it, the “American” division of the
SVR was given the task of placing individuals in the United States
disguised as ordinary Americans. Their “legend,” or operational
cover, could be thin because they would not be applying for jobs in
the government. Their job was simply to blend in with their com-
munity until they were called upon by the “American” department
in Moscow to service a mole who had been planted in U.S. intelli-
gence or other parts of the U.S. government. Until they were acti-
vated by such a call, they were classified as sleeper agents. Unlike the

© SVR’s “legal” officers, who were attached to Russian embassies as ®
diplomats and were protected from arrest by the Treaty of Vienna,
the SVR’s illegal agents lack diplomatic immunity. According to
Pavel Sudoplatov, who defected from the KGB in the Cold War, the
sole job of such sleeper agents was to “live under cover in the West
awaiting assignments for the Center.” One assignment that justifies
the expense of maintaining such agents is to service a penetration,
after one is made, in the U.S. intelligence establishment. While wait-
ing to be activated for such a job, sleeper agents were instructed to
build every detail of their cover identity so as to perfectly blend in
with Americans.

To build this American network of sleeper agents took the better
part of a decade. In 2005, the SVR’s “American” section in Mos-
cow had begun methodically installing them in the United States.
Almost all were Russian citizens who had assumed new identities to
better blend into their communities.

The CIA learned of this sleeper program through Poteyev soon
after it began. The issue was how to exploit this knowledge. When I
was writing my book on international deception, James Jesus Angle-

| | Epst_9780451494566_2p_all_r1.z.indd 188 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019676
"
IMAGES-009-HOUSE_OVERSIGHT_027203.txt,"GUID: 63BB69C1-2A39-4811-A7B8-F942D45AB6F6
Message: Bg meets w trump march 20/21 (tbc)

Sender: e:jeeitunes@gmail.com

Time: 03/05/17 03:54:25 AM (510407665)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: E01D625B-8A97-488 1-AC24-819848A2D9DB
Message: a waste of time. he should meet with barrack

ino
Time: 44:02 AM (510432242)

Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 67475AFA-BAE7-4B90-823 1-3C42C89769D3
Message: https://www.linkedin.com/in/jonah-goldman-b4b 1 6a6

Sender:

Time: 03/05/17 10:44:02 AM (510432242)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 49341B90-C929-4469-B27D-859882DD7180
Message: Bg senior political adviser

Sender:

Time: 03/05/17 08:14:13 PM (510466453)

Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: CB35C3BE-61E8-4A07-9806-B45928CD2AED

Message: https://www.va.gov/directory/guide/manager.asp?pnum=3025 1

Time: 03/05/17 08:14:13 PM (510466453)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 9B237953-42E4-4D35-9EC5-45459717B96E

Message: She's super nice by the way. My friend. If your guys need smart no drama women --

sender:

Time: 03/06/17 09:40:56 AM (510514856)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 60A89EC4-CDC2-4826-AA70-69A8A6C90BSA
Message: Are you in NYC

HOUSE_OVERSIGHT_027203
"
IMAGES-006-HOUSE_OVERSIGHT_021151.txt,"parts of my childhood. J reminisced how it had used to be before all my
life turned upside down. Before all of the fights with my family, before I
had to look after myself, and before I was a slave to men.

Those days were too long gone now. With too many hard times passing
me by it seemed surreal to think that life had ever even existed in the first
place. With that thought I shook myself out of reminiscing that way.
Whatever was going to happen was out of my control now, I just had to
give myself some hope that I would have the strength to get myself out
these circumstances before anything really bad happened.

Chapter 2

The house was quiet so I just assumed Charlie was still asleep. |
decided to get cleaned up and have a shower. Not even a knock on the
door when Charlie walked in with ease. “Typical” I thought. It was an
easy way for Charlie to break the ice. “You really are as beautiful as Ron
said” as he opened the curtain. Watching me rinse myself in the shower
and me knowing I had no way out of this except to go along with
whatever he wanted. I just looked down at the mention of Ron’s name,
wondering what else he had told Charlie about me. Realizing later that he
wouldn’t have said anything anyways, in fear I would’ve been a damaged
product that wouldn’t make him the money that young girls go for.

He just sat on the side of the vanity top and continued to take
observations of me standing submerged under the falling water. I avoided
looking at him and let him do all the talking, after all I knew what I had
to say was of no importance, that is if he was anything like Ron. Between
the water beating down over my head I could slightly hear him ramble on
about some club and restaurant he owned in FT. Lauderdale. He said he
was going to take me shopping for some club outfits and we would party
together tonight, as if | was supposed to be excited over this so-called
treat of his.

[looked up-and gave him a quick smile adding a compliant nod and
turned my attention to turning off the faucets and quickly grabbing my
towel. I was falling so far from who I used to be, shying away from my
outgoing personality to a quiet girl that didn’t even recognize herself in
the mirror anymore. I dried myself off and looked at the man standing
between the doorway and me. He was still watching me with a sleazy
look on his face but now preceded to move in my direction, arms wide
open. He embraced me, running his hands up around my youthful curves,
licking my neck and earlobes. Then his large, rough hands cupped my
small breasts and continued downwards to fee! in between my legs. I

13

1) Copyright Protected Material
CONFIDENTIAL GIUFFRE004146

knew what I had to do to get this over and done with as quick as possible,
but I was dreading this moment from the second he greeted me at the
door last night.

I fell to my knees and gave into his demented perversions. Thankfully
it didn’t last long before he climaxed and I was allowed to get myself
dressed and ready to go out. I was nothing but money well spent in his
mind. This was another extremely wealthy man with a completely new
set of wants and needs asking a fourteen year old girl to affectionately
dote on sexual desires to a man in his mid forties. I really hated myself,
these men, and just about everything my life had boiled up to by this
point, but I knew from a young age that to survive in this harsh world I
would have to do many things | would not willingly choose to.

At the shops he decided he would choose the clothes he paid for, which
I might as well have been declared a teenage prostitute. Just like Ron he
also liked it that way. The more degrading he was to me only proved his
ownership of my body. He bought me tiny cocktail dresses, and skimpy
outfits, which I thought closely, resembled the lingerie he’d also bought
for me to wear for him. I noticed that day that he enjoyed parading me
around the shopping mall and out for lunch at hooters, even joking with
the waitress that he’d like to buy her uniform because he thought it'd look
sexy on his new girlfriend.

We arrived at his two in one, Restaurant and Club, at around nine
o’clock in the evening. It was a revolving tower called “Hot Chocolates”
in downtown Ft. Lauderdale. The food was delicious and for the first time
since being with Ron, I ordered a hefty meal with steak and mashed
potatoes with a scrumptious gravy smothered on top. Charlie ordered
strong cocktails for us both and before I knew it my head was spinning
and we were on the dance floor together. The music blared in my head
and the rhythm of my body took over, completely forgetting about even
dancing with Charlie and letting the music take ahold and work it’s
magic.

It didn’t do me any justice though as Charlie watched me imagining
what pleasures lay in store for him later on. Taking me home before the
club had even closed, he just couldn’t wait to indulge on exactly what he
was fantasizing from beforehand. Once back at his townhouse he led me
up the stairs into his bedroom and pushed me down in the middle of his
bed. The motions from the wavy mattress made me dizzy and feel even
drunker when he lay on top of me. Coming at me like a hungered beast
wanting to ravage his next meal, it was intimidating as he entered into me
with a forceful thrust, he moaned out in delectable heaves. ] looked away
while he self indulged his own gratifying needs using my body as his
instrument in pleasure. [ only grew stronger in my head letting the hatred
for men desires intensify.

14

U Copyright Protected Material

GIUIFFRLO04 147

HOUSE_OVERSIGHT_021151
"
IMAGES-009-HOUSE_OVERSIGHT_028130.txt,"responsibility,” I said. “Both of our peoples have paid a heavy price. The time
has come to find a way to solve this.”

In the half hour we spent together later, I could see that, physically, the Fatah
leader from Karameh was not just older. He had a frailty about him. His skin
seemed almost translucent in places. His hands shook slightly, with the early
signs of Parkinson’s. He spoke softly. But despite this ostensibly vulnerable
exterior, I could see how daunting, and frustrating, he must be a negotiating
partner. Henry Kissinger has described how Mao Tse-Tung, rather than engage
directly in discussion or debate, tended to wrap his remarks in parables. Without
stretching the parallel too far, Arafat was like that. While I tried to engage him
on how each of us might help cement the Oslo process, and ensure that the
interim agreement indeed led to a full peace, he responded with stories, or off-
topic remarks, which I was left to unwrap and decipher.

He began our discussion by saying that now that I was Foreign Minister, he
was glad to meet me. He said that he’d heard “reports” from his intelligence
people that when I was chief-of-staff, I had organized a kind of dissident band
of generals who were working to torpedo the Oslo agreements. He compared
this to the OAS, the military cabal in France that had opposed De Gaulle. I
could only laugh. I told him I’d actually spent two months with OAS men years
earlier, in Mont Louis, but that Israel was different. Even at times of the
toughest of disagreements, we were a family. An “Israeli OAS” would never
work, even if I had been crazy enough to contemplate such a thing. Which, I
hastened to add, I was not.

There was another idiosyncrasy I encountered in Arafat. He was constantly
writing notes as we spoke. I didn’t mind that. But it did strike me as slightly
diluting the kind of frankness and openness I would find in most of the one-on-
one meetings I went on to have with foreign leaders as Peres’s Foreign Minister.
Maybe he did it just as a kind of aide-memoire. But certainly in later meetings I
had with him, it did have the effect to making me choose my words more
carefully. That, I believed, reduced the prospect of exploring more creatively
the boundaries of each of our official positions. It also helped Arafat to argue, as
he did on more than one occasion, that Rabin, or Peres, or whatever Israeli
interlocutor he chose to name had promised him such and such. He always
implied this was based on his written record, though he never produced any
evidence to that effect. He also never seemed to have recorded anything that he
had promised Israelis.

I tried, with only partial success, to engage some of the other Arab foreign

282
HOUSE_OVERSIGHT_028130
"
IMAGES-004-HOUSE_OVERSIGHT_017212.txt,"4.2.12
WC: 191694

assault charges, but he also faced the possibility of being extradited to the United States to face
charges that carried far more serious consequences than those in Sweden. It was the possible
American prosecution that he wished to discuss with me.

I first spent several hours with Assange and his legal team over the phone and by email. We
worried about the security of our lawyer/client communications, which some might think ironic in
light of Assange’s penchant for disclosure of secret communications, but he had little choice but
to communicate about the legal issues. We decided that a face-to-face meeting was required and
we met in his lawyer’s office.

I found Assange to be an earnest person, deeply devoted to the principle of maximal transparency
of governmental actions. He was, however, sensitive to the need to keep some secrets—if not
from him, at least from the general public, which inevitably includes some very bad people
determined to do some very bad things to innocent and perhaps not so innocent people.

Assange insisted to me*’ that he was a journalist, in every relevant sense of that term. He
published, and turned over to others to publish important and relevant material that others had
provided to him anonymously. He and his colleagues had devised a technology for allowing
“whistle blowers” to “drop” material to Wikileaks anonymously and with no possibility of it being
traced to its source. This “dropbox” technology was the cyber manifestation that the best way to
keep a secret is not to know it in the first place. He and his colleagues had devised a foolproof
system, he believed, to keep them from learning who had “dropped” the material into “the box.”

His job as a journalist was to authenticate the raw material, vet it for names and other life-
threatening information which in his journalistic judgment should not be published (for example,
the location of safe houses and the names of vulnerable people), and arrange for it to receive
maximal reach by having it published by mainstream media outlets around the world, which would
do further vetting to meet their own journalistic standards.

When he finished explaining his journalistic modus operendi, two names immediately popped into
my head: Seymour Hirsh of the New Yorker, and Bob Woodward of the Washington Post. Both
are solid pillars of the journalistic establishment and both have made their reputations by
publishing secrets the government—or at least some in the government—did not want to see in
print.

Hirsh specializes in publishing classified information about national security that has been
provided to him by whistle blowers inside the government who disagree with particular
governmental policies and want to see them exposed by someone who is believed to be
sympathetic to their dissenting views. Some, if not most, of these whistleblowers are breaking the
law by disclosing classified material to Hirsh. Hirsh and his publishers knew that they were
publishing classified information before they published it. Yet neither he nor his publishers have
been prosecuted.

It is likely, moreover, that Hirsh has encouraged at least some of his more reluctant sources to
become whistle blowers or, if they came to him without any prior encouragement, to continue to

‘7 T can only disclose material that is in the public record that he has given me permission to disclose.

125

HOUSE_OVERSIGHT_017212
"
IMAGES-004-HOUSE_OVERSIGHT_018121.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_018121
"
IMAGES-003-HOUSE_OVERSIGHT_015603.txt,"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...” Al/state 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

HOUSE_OVERSIGHT_015603
"
TEXT-002-HOUSE_OVERSIGHT_031973.txt,"From: paul krassner 
Sent: 5/15/2019 12:17:32 AM 
To: George Krassner 
Rebecca Risman 
Subject: rather long and a few typos 
• nick kazan 
Linda W. Grossman 
REMEMBERING CAVALIER MAGAZINE 
; Mrisman02 
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 031973 
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. I went to the bank and deposited my check, withdrawing half of it in cash, a $500 bill. 
Lenny was alone in his 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 denim dungaree 
j acket. 
AFTER JFK ASSASSINATION 
In another column of mine, ""Jack Ruby and His Dirty Little Secret,"" it began, ""Lenny Bruce 
told me how all the night club comics used to Jack Ruby's ""tattoo of a lady's schmutzik (translate: 
pussy) in his armpit."" If it wasn'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. See, they grant you 
retroactive innocence only in the face of innumerable witnesses who were present at the actual 
event through the 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 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, 
HOUSE OVERSIGHT 031974 
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, but 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 editor 
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 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 
HOUSE OVERSIGHT 031975 
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. ""Goodbye Surfing, Hello God!"" is Jules's most famous 
example of rock journalism, but I think his most revolutionary is his article 
""The Big Beat."" It appeared in the Playboy-esque Cavalier magazine in 1965 
and is one of the earliest writings I've 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. 
Jules Siegel 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. 
COMIC STRIPS 
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 thanx 
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 in 1969, as an apprentice 
underground cartoonist taking too many drugs was really, really awful so I'm grateful for the editor's 
hip and laid-back kindness. But, hey, I was proud to be in a mag that published pieces by Pynchon, 
Manny Farber and you. 
HOUSE OVERSIGHT 031976 
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 with Alan for those 
mags as well. 
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. They were running some Crumb ""Fritz the Cat"" 
pages. All thanx to their hip, laid back and kind editor 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). 
My work in 1969, as an apprentice underground cartoonist taking too many drugs was really, really 
awful so I'm grateful for the editor's hip and laid-back kindness. 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, even wrote a story or two there and got several of my S.F. comix cronies (Spain 
Rodriguez, Bill Griffith and Justin Greene) illustration gigs with Alan 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 postmodemist 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. 
HOUSE OVERSIGHT 031977 
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 I Negotiate With You, to the tune 
of the Beatles' If IFell in Love With You. 
HOUSE OVERSIGHT 031978 
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. 
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 a pussy on the Statue of Liberty. Cavalier, anyone? 
HOUSE OVERSIGHT 031979 
"
IMAGES-012-HOUSE_OVERSIGHT_033574.txt,"This email was sent to

why did | get this? unsubscribe from this list update subscription preferences
Cagle Cartoons, Inc. - P.O. Box 22342 - Santa Barbara, CA 93121 - USA

———

HOUSE_OVERSIGHT_033574
"
IMAGES-007-HOUSE_OVERSIGHT_024460.txt,"2. SUMMARY TERMS OF THE TRANSACTION

Certain of the key terms of the offering, which are subject to and qualified in their entirety by reference to
the Limited Partnership Agreement of KUE, the organizational documents of the General Partner and
applicabie Cayman Islands law, are outlined below. The terms summarized herein are sei forth in detail
in the Limited Partnership Agreement of KUE, the Agreement Among Members of KUE Management, Inc.
and the Amended and Restated Memorandum and Articles of Association of KUE Management, Inc.,
copies of which have been provided or are available upon request. Such summaries are qualified in their
entirety by reference to such agreements.

Issuers: Knowledge Universe Education L.P., a Cayman Islands
exempted limited partnership (""KUE"") and KUE Management
Inc., a Cayman Islands exempted company, the general
partner of KUE (the “General Partner’).

Securities Offered: Up to 1,000,000 investment units (the “Units""), each
comprised of one Common Limited Partner Unit (“Common
LP Unit"") in KUE and one Class A ordinary share (“Class A
Share"") of the General Partner at an offering price of U.S.
$1,000 per Unit ($999 allocated te the Common LP Unit and
$1 allocated to the Class A Share) (the ""Purchase Price"") for
aggregate proceeds of U.S. $1 billion (subject to increase in
the offering size by the General Partner at its sole discretion
up to an aggregate of 1,500,000 Units to Investors, with
aggregate proceeds of U.S. $1.5 billion). The offering is
expected to be completed in one or more closings on or
before March 31, 2007 (the “Offering Period”).

Since the General Partner will have a nominal economic
interest in KUE, the Class A Shares are expected to have
nominal economic value. The Class A Shares are, however,
intended to provide Unit holders with certain voting and other
governance rights in the General Partner (as described
further below) which, in turn, will control KUE.

The Common LP Units and the Class A Shares comprising
the Units owned by the investors (the “Investors”) will not be
separately transferable unless otherwise approved by the
Board of Directors of the General Partner and a committee
of Independent Directors (as defined below) (the
“Independent Committee”).

Minimum and Maximum Investment: U.S. $25 million (subject to waiver by the General Partner at
its sole discretion}. At any closing after the first closing of
the offering of the Units, the maximum investment permitted
will be U.S. $185.0 million.

Closing: KUE may accept or reject subscriptions, in whole or in part,
at its sole discretion. KUE will hold one or more closings in
connection with the sale of the Units on dates specified by
KUE to the Investors. The minimum amount of subscriptions
to be accepted in the first closing of the offering {including
the amount attributable to Knowledge Universe Education

27

HOUSE_OVERSIGHT_024460
"
IMAGES-003-HOUSE_OVERSIGHT_015165.txt,"SARAH: The frst time! Did he force himself on you?
WILLOW: Well, not really. It was voluntary.
SARAH: Oh my God! What are we gonna do? Oh my God! |’ m

hysterical! Oh my God!

[Todd Is finishing up an interview with a beautiful young woman in
his office. He tries unsuccesstully to avert his eyes from her cleavage.]

TODD: Well, your resume’ is solid--l'’ m totally impressed with
your experience as a nanny--you have excellent references, you have a very
enthusiastic personality, and | must admit, of all the women I’ ve been
interviewing, you’ re not only the most qualified, you’ re also the most
attractive, if you don’ t mind my saying so.

NANNY: Oh, | don’ t mind at all, Mr. Palin. As a matter of fact, the
feeling is mutual.

TODD: Please, call me Todd.

NANNY: Todd. Such a nice masculine name. /Standing/ When would
you like me to start?

TODD: I’ Il have to figure that out with Sarah when she returns.

[Standing] She’ s meeting with Senator McCain today.

HOUSE_OVERSIGHT_015165
"
IMAGES-012-HOUSE_OVERSIGHT_033212.txt,"From: Nicholas Ribis

Sent: 1/6/2017 2:26:34 PM
To: ‘jeffrey E.' [jeevacation@gmail.com]
Subject: FW: CNN Article

Attachments: image001.jpg

Importance: — High

Jeffrey — | thought this article on Tom would interest u -- Nick

http://www.cnn.com/2017/01/06/politics/tom-barrack-donald-trump-inauguration/index.html

Donald Trump's power broker
www.cnn.com
Tom Barrack is poised to wield enormous influence in

Donald Trump's Washington as the person perhaps closest
to the new president outside of his immediate family.

HOUSE_OVERSIGHT_033212
"
IMAGES-007-HOUSE_OVERSIGHT_024306.txt,"Table of Contents
NOTICE OF 2019 ANNUAL MEETING OF STOCKHOLDERS

The 2019 Annual Meeting of Stockholders of CARVANA CO. (“Carvana’’) will be held at 3419 East University Drive, Phoenix, AZ 85034, on
Tuesday, April 23, 2019, at 8:00 AM (PDT) for the following purposes:

1. to elect two nominees identified in the accompanying proxy statement to serve as directors, as recommended by the Compensation and
Nominating Committee of the Board of Directors of Carvana;

2. to ratify the appointment of Grant Thornton LLP as Carvana’s independent registered public accounting firm for the year ending December 31,
2019;

3. to consider the approval, by an advisory vote, of Carvana’s executive compensation (1.¢., “say-on-pay” proposal);

4. to recommend, by an advisory vote, the frequency of future advisory votes on executive compensation (i.e., “say-on-pay frequency”); and

5. to transact other business as may properly come before the meeting or any adjournment of the meeting.

Our board of directors has set February 25, 2019, as our record date for this year’s meeting. Only stockholders that owned Carvana Co.’s
Class A common stock or Class B common stock at the close of business on that day are entitled to notice of our annual meeting and may vote at it or any
adjournment of the meeting. A list of stockholders entitled to vote at the meeting will be available for examination by any stockholder for any purpose
relevant to the meeting during ordinary business hours for at least ten days prior to April 23, 2019, at 1930 W. Rio Salado Pkwy, Tempe, AZ 85281.

By Order of the Board of Directors

Paul Breaux

General Counsel and Secretary

HOUSE_OVERSIGHT_024306
"
IMAGES-006-HOUSE_OVERSIGHT_020529.txt,"70

increasingly flood public events put on by US think tanks in Washington, using the
events as press conferences and to pose leading questions. While Western reporters are
not immune to this type of behavior, the Chinese media undertake such distortions
in a far more systematic manner, with a pointed political agenda that is usually
determined by the government’s current political “line.”

With this in mind, US think-tank analysts have developed a varied set of approaches
to their interactions with the Chinese media. Some see the Chinese media as an
opportunity to get their views across to the Chinese public, even though, as one think
tanker acknowledges, he knows he may be censored in “inappropriate ways.” Another
stated that despite the obvious biases, he still gives a lot of interviews—to CCTV,
CGTN, Xinhua, People’s Daily, and the Shanghai Media Group, among them. At least
one claims that while he does frequent CGTN interviews, he has never been censored.

Several US think-tank scholars indicate that they keep track of their interviews, and if
they are misquoted, they stop speaking to that journalist. One notes that he refuses to
do interviews on sensitive political issues, such as party congresses. Another indicates
he will only do live television as a hedge against being censored, while another
indicates he will only be interviewed in written email form. Two analysts refuse to
give interviews to Chinese media at all, with the exception of those that occur in
the immediate aftermath of a public talk when an analyst is approached by Chinese
journalists. In one case, an analyst reported that Xinhua conducted an in-person
background interview after she refused to write an op-ed, but she was willing to share
her views (which were negative). Xinhua then drafted a full, positive-sounding op-ed
in her name, which they planned to publish without her approval. She successfully
blocked it, and her institute now has a blanket ban on interviews with the Chinese
press unless there is a special reason. This is intended to send a message that they do
not believe the Chinese media can be trusted.

The opportunity to earn money through interviews was mentioned by one scholar. She
noted that CGTN pays $150 per interview. The network warned her, however, that if
she was too critical of the Chinese government, she would not be invited back. CGTN
also indicated that she should be “more like” another think-tank analyst who had
become a regular on CGTN.

Writing and Publishing in China

The majority of the think-tank analysts who have been interviewed for this section
have refused to write op-eds for Chinese newspapers, with several stating that they
have had bad experiences in which content has been censored. One scholar reports
several instances of pieces being commissioned by Global Times, only to have his piece
spiked after submission because of its controversial content. Others, however, have

Think Tanks

HOUSE_OVERSIGHT_020529
"
IMAGES-004-HOUSE_OVERSIGHT_017574.txt,"From: ‘iso Randal

Sent: 11/28/2012 4:17:19 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fwd: Invite to Dialog 2014 (16 months away)

Importance: — High

Is this worthwhile?

ee Original Message --------
Subject: Invite to Dialog 2014 (16 months away)
Date: Wed, 28 Nov 2012 08:05:58 -0800

From: A
To: <

Dear Fouad,
Dear Lisa 1¢%

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 73% 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*:
Youig%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 arenig%t modest. we want to change the world.
But we donig%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 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.

HOUSE_OVERSIGHT_017574
"
IMAGES-011-HOUSE_OVERSIGHT_031865.txt,"32

supplement to the sea for the movement of large numbers of troops.
Once the Hellespont is crossed, the coastal route through southern
Turkey, down the Levant and along the Mediterranean's southern
shore, provides such an alternative.

There is an additional consideration. If a Mediterranean empire
leaves the Levant unoccupied, it opens the door to the possibility of a
great power originating to the east seizing the ports of the Levant and
challenging the Mediterranean power for maritime domination. In
short, control of the Levant binds a Mediterranean empire together
while denying a challenger from the east the opportunity to enter the
Mediterranean. Holding the Levant, and controlling Israel, is a
necessary preventive measure for a Mediterranean empire.

Israel is also important to any empire originating to the east of Israel,
either in the Tigris-Euphrates basin or in Persia. For either, security
could be assured only once it had an anchor on the Levant.
Macedonian expansion under Alexander demonstrated that a power
controlling Levantine and Turkish ports could support aggressive
operations far to the east, to the Hindu Kush and beyond. While
Turkish ports might have sufficed for offensive operations, simply
securing the Bosporus still left the southern flank exposed. Therefore,
by holding the Levant, an eastern power protected itself against
attacks from Mediterranean powers.

The Levant was also important to any empire originating to the north
or south of Israel. If Egypt decided to move beyond the Nile Basin
and North Africa eastward, it would move first through the Sinai and
then northward along the coastal plain, securing sea lanes to Egypt.
When Asia Minor powers such as the Ottoman Empire developed,
there was a natural tendency to move southward to control the eastern
Mediterranean. The Levant is the crossroads of continents, and Israel
lies in the path of many imperial ambitions.

Israel therefore occupies what might be called the convergence zone

HOUSE_OVERSIGHT_031865
"
IMAGES-007-HOUSE_OVERSIGHT_023469.txt,"Article 2.

The New York Post
The storm in Syria

Amir Taheri

April 16, 2011 -- Yesterday was supposed to be the first day of what
Syrian despot Ba shar al-Assad had dubbed ""social calm""; he hoped
his mixture of promises and repressive measures would silence the
pro-democracy uprising that has shaken the Ba'athist regime. Instead,
the opposition mounted a ""Friday of Resolution,"" with fresh
nationwide marches against tyranny.

In addition to other empty moves, Assad had ordered the release of
protesters arrested in the past four weeks provided they had not done
""anything that might undermine the interests of the state and the
nation's security."" Those qualifiers meant that by yesterday evening
only nine people had been set free, out of an estimated 1,200 arrested
in 18 cities -- and scores more were arrested yesterday.

To be sure, the opposition didn't succeed in organizing a major march
in the capital. But a crowd of no more than 600 marched from
Damascus to the nearby town of Douma, where security forces have
killed at least 30 demonstrators in the past two weeks.

Yesterday was a success for the opposition. It managed to defy the
massive security buildup to hold demonstrations in at least 20 cities,
underlining its nationwide appeal. It also managed to show its
presence in Aleppo, the country's second most populous city, which
had remained relatively quiet until now.

Also significant were the first demonstrations in the Druze areas,
which had never before shown any sign of revolt against the Assad
dynasty. Yesterday, Syria's biggest Druze city, Suwaidah, became an
""Assad-free"" zone as portraits of the despot and his father were
burned in public.

HOUSE_OVERSIGHT_023469
"
IMAGES-007-HOUSE_OVERSIGHT_022777.txt,"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 |
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and 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

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
2

HOUSE_OVERSIGHT_022777
"
TEXT-001-HOUSE_OVERSIGHT_025200.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 5/20/2018 8:02:59 PM 
To: Weingarten, Reid 
Subject: Re: 
a us citizen, working for mi 5 . calls trump campaign insiders and tryr to get info for mi5 and 
fbi. . including after trunmp takes office.. 1 did obama know'? if a us citizen working for britain 
spies. can they spy on americans? who pays . paid. wild. donald focused on this bigtime 
On Sun, May 20, 2018 at 9:59 PM Weingarten, Reid < > wrote: 
Oy 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Sunday, May 20, 2018 3:45 PM 
To: Weingarten, Reid 
Subject: Re: 
hes the fbi informant. Mi 5 cia, oy. 
On Sun, May 20, 2018 at 8:39 PM Weingarten, Reid wrote: 
Educate me 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Sunday, May 20, 2018 11:16 AM 
To: Weingarten, Reid 
Subject: 
who is going to represent stephen halper. that will be fun 
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 025200 
The information contained in this communication is 
confidential, 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 025201 
"
IMAGES-009-HOUSE_OVERSIGHT_027565.txt,"sender: iy

Time? 12
Flags: 1

Is Read:

/09/18 02:01:47 P
060865

Yes

Is Invitation: No

GUID: B3D92E4E

Message:

r

M (566085707)

Total chaos now

Sender:

Time: 12/09/18 02:02:24 PM

Flags: 1

Is Read:

060865

Yes

Is Invitation: No

GUID: 84

Message:

5F07-4B6A-8 61 9-9B74A6560A71

(566085744)

EBD2BC-E1BD-4A9C-9F09-132164AF699B

Nick has massive disclosure issue-- also told me after last week thinks zero

chance trump makes it thr

Time: 12/09/18 02:02:31 PM

Flags: 1

Is Read:

060865

Yes

Is Invitation: No

GUID: F4288DD2-ACc09-4450-A88 6-D2AB8CFB2D3B

Message:

u Mig

Doesn't want the

Time: 12/09/18 02:21:51 PM

Flags: 1

Is Read:

060865

Yes

Is Invitation: No

part

(566085751)

(566086911)

GUID: E36DF6F7/-2A96-4DB4-A709-17A978 9BFFB3

Message:

Meadows , bossie

Sender:

Time: 12/09/18 02:23:33 PM

Flags: 1

ITs Read:

060865

Yes

Is Invitation: No

GUID: 9B6DIAIB-5911-44CE

Message:

Lr,

, Llighthizer my guys--mick good

A951

Total

Sender: iy

Time: 12/09/18 02:27:40 PM

(566087013)

EIF316

EF4270

(566087260)

HOUSE_OVERSIGHT_027565
"
IMAGES-006-HOUSE_OVERSIGHT_021637.txt,"Page 1 7 09/30/08 19:15:40
09/30/2008 Jee CHILD LOCATE sehnednnddiok
SENSITIVE / UNCLASSIFIED
Case Number: 34E-MM-108062 Stat Agent Name: Report Date: 09/30/2008 b6
Serial No.: Stat Agent SOC.: Accom Date.: 06/30/2008 b7C
b7E

Does Accomplishment Involve Assisting Agents SOC Subject Name

Sub. Invest. Asst by Other FOs:

Investigative Assistance or Technique Used

FINAN ANALYST
AIRCRAFT ASST
COMPUTER ASST

LAB FIELD SUP
PEN REGISTERS
PHOTO COVERGE

UCO - NAT BACK
NCAVC/VI-CAP
CRIM/NS INTEL

VICT-WITN COOR
IO WANTED FLYR
SARS

CONSEN MONITR POLYGRAPH CRIS NEG-FED CART
ELSUR/FISC SRCH WAR EXEC CRIS NEG-LOC ASSET FORF PRO
ELSUR/III SHOW MONEY ERT ASST FORF SUPPORT P
ENG FIELD SUP SOG ASST BUTTE-ITC TFOS/CTD

ENG TAPE EXAM SWAT TEAM SAVANNAH - ITC CXS/CTD

LEGATS ASST. TECH AG/EQUIP POC-WRCSC INFRAGARD/CYD
EVIDNCE PURCH TEL TOLL RECS FT. MON-NRCSC OFC/CID
INFORMANT/CW UCO-GROUP I FOR LANG ASST PPP

LAB DIV EXAMS

UCO-GROUP II

NON FBI LAB EX

FWN =

Drugs... 2 ess we eee :N [ | |

A Fugitive... .......2N |

Bankruptcy Fraud. ...... :N |

Computer Fraud/Abuse. .... :N | RA = Squads Task Force
Corruption of Public Officials: N | SSS SEISEE  SISEIRISIIEES
Money Laundering. ...... :N | PBC = PB2 SSPBC

Used, but did not help
Helped, Minimally
Helped, Substantially
Absolutely Essential

Living/Deceased: Living
Date Child Located: 06/30/2008

ENTERED UPON RECEIPT

SENSITIVE / UNCLASSIFIED

HOUSE_OVERSIGHT_021637
"
IMAGES-005-HOUSE_OVERSIGHT_019110.txt,"MR HOFFENBERG ONLINE NEWSPAPER
PUBLICSPEAKINGWALLSTREET.COM

HOUSE_OVERSIGHT_019110
"
IMAGES-008-HOUSE_OVERSIGHT_026232.txt,"From: Larry Visoski

Sent: 11/21/2017 12:23:47 AM
To: Je vacation [jeevacation@gmail.com]
Subject: TSA PBI

Importance: — High

Jeffrey

while Trump is in PBI, TSA only allows arrival and departures between 8am and 5pm for General Aviation.
I made a resv for Nov 26th at 8am to St Thomas,,

Passengers: You and

I can make passenger changes up to 24 Hours before Departure, they also request if we are traveling with
an animal., FYI,

They also ask if Passengers are Male or Female, strange, they didn’t ask names.

Thx
Larry

Sent from my iPhone

HOUSE_OVERSIGHT_026232
"
IMAGES-001-HOUSE_OVERSIGHT_010834.txt,"01:48:51

04:48:53

04:48:56

04:48:59

04:49:02

01:49:07

04:49:11

04:48:13

04:49:15

1
2
3
4
5
6
7
8
9

orest? 10
oraane 14
orag20 12
oraa21 13
orao21 14
ovas22 15
oras22 16
oras26 17
oraoze 18
oras26 19
orao2s 20
orssza 21
orsex0 22
orao30 23
arse 24
ovaon2 25

01:49:32

01:48:32

01:49:33

01:49:37

01:48:37

01:49:38

04:49:38

01:49:39

01:49:40

OoOonrnt nah Wh =

oraoar 10
oragas 11
orasas 12
ovagaa 13
orasso 14
oraese 15
oraass 16
oraase 17
o1s001 18
orsoos 19
orso0a 20
orso0s 24
or50.07 22
orsoto 23
orsot2 24
onsets 25

25 of 38 sheets

97

Another thing that I had, and I will not
reveal any privileged communications here or any
confidential information, but on December 30th, I
was aware that one of the preeminent lawyers in
the United States, David Boies, had agreed to
represent Virginia Roberts. And given the vast
amount of business that -- that, you know, tries
to get in the door --

MR. SIMPSON: Could I interrupt? I mean, I
think we are going towards a waiver here.

MS. McCAWLEY: Yeah. No, no, no, I do not --

MR. SIMPSON: We can't have testimony
about --

MS. McCAWLEY: Yeah.

MR. SIMPSON: -- this is one of the most
respected people in the country, or lawyers in
the country, and then you won't answer the
questions --

THE WITNESS: Okay.

MR. SIMPSON: -- you said not to answer.

MS. McCAWLEY: Oh. Well, describing David
Boies in general --

MR. SIMPSON: I agree with the description.

MS. McCAWLEY: -- doesn't constitute a
waiver.

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400
98

MR. SIMPSON: He's a distinguished lawyer.

MR, SCAROLA: And I don't think we are
getting beyond anything that is a matter of
public record.

MR. SIMPSON: I just -- I --

MS. McCAWLEY: But I appreciate you --

MR, SIMPSON: Be aware of waiver.

MS, McCAWLEY: -- letting me know that.

THE WITNESS: Allright. I will be -- I will
not waive anything, and if I start to do that, I
would certainly request the opportunity to -- to
retract what I'm doing, but I was aware -- since
the issue is, well, what's in the public record,

I was aware that, you know, probably the most
significant United States Supreme Court case
argued in the last 20 years was Bush versus Gore,
which was a case that essentially determined who
was going to be President of the most powerful
country in the world.

There were two attorneys who argued that case
in front of the United States Supreme Court, and
arguing for the Democratic Presidential
Candidate, Al Gore, was David Boies.

He had put his credibility on the line in
arguing the Bush versus Gore case, and without

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

04:50:49

01:80:22

04:50:24

04:50:27

04:50:30

01:50:34

04:50:37

01:50:41

OOnr Dan kh WOH

01:50:46
04:50:50 10
04:50:56 11
01:51:01 12
01:51:03 13

04:51:09 14
OFSh14 15
04:51:19 16
On S424 17
04:51:30 18
OLSEST 19
04:51:33 20
orsia 21
04:54:36 22
01:51:96 23
04:51:40 24
04:54:42 25

04:54:45

04:54:48

04:54:48

On:5151

O4S4:54

OSTS7

0:52.00

04,52:03

Cont oak WOH =

04:52,05
04:52:07 10
01:52:09 11
04:52:11 12
04:52:13 13
04:52:17 14
orsz19 15
onsza1 16
ors22s 17
04:52:29 18
01:52:33 19
04:52:35 20
04:52:36 21
01:52:39 22
01:52:42 23
04:52:45 24
O4S2:54 25

99
going into any confidential communications or
trying to waive in any way, I knew that David
Boies had agreed to represent Virginia Roberts,
which gave me additional confidence in the fact
that I was also representing this young woman in
her effort to bring sex traffickers to justice,
and those who had sexually abused her to justice.

And so those are things that come to mind
immediately as -- let me just take a second and
see if there were other things regarding
Dershowitz that -- that come immediately --
immediately to mind.

Oh, one of the things was in the Jane Doe 102
complaint, which alleged academicians that had --
that had abused -- sexually abused Jane Doe 3,
there -- there were -- so that raises a question,
obviously, of who were the academicians that Bob
Josefsberg had identified?

I can't recall, actually. Let me -- the
record should be clear, I can't recall
immediately whether it was singular or plural.

It may have been plural, but if it's singular, I
don't want to suggest that there were other
academicians, but at least one academician had
sexually abused Jane Doe 3, according to the
ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400
400
complaint that had been filed by Bob Josefsberg.

There were two things that were of interest
to that: One was that Mr. Epstein, the man that
I wasn't able to get information from because he
was invoking the Fifth, had refused or declined
to file an answer to that complaint.

Rather than deny the allegations, he had,
ultimately, it's my understanding -- I don’t have
inside information and I'm not trying to waive
any information, but my understanding is that
rather than answer the complaint, he settled the
case through the payment of some kind of
compensation that Jane Doe 102 found desirable
for dropping her claim.

The other thing that I found interesting is
that Josefsberg's partner, I believe it is,

Miss Ezell, had been to some of the depositions
of, for example, I believe Juan Alessi and
Alfredo Rodriguez. And I believe at least one of
those, and perhaps both of those. And she had
asked questions about Alan Dershowitz in those
depositions, but had not asked questions about
other academics in those depositions.

So that led me to conclude that Bob
Josefsberg and his outstanding law firm had

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

Page 97 to 100 of 151

10/20/2015 01:07:28 PM

HOUSE_OVERSIGHT_010834
"
IMAGES-006-HOUSE_OVERSIGHT_020501.txt,"42

state, stating in a letter addressed to their state’s universities that these organizations
“are a threat to our nation’s security by serving as a platform for China’s intelligence
collection and political agenda.” They added that, “We have a responsibility to uphold
our American values of free expression, and to do whatever is necessary to counter any
behavior that poses a threat to our democracy.” The Texas A&M system complied with
this request by ordering the closure of all Cls.’* Then, in August 2018, the University
of North Florida announced the closure of its CI.""

Similar calls have been made in other states, and the 2019 National Defense
Authorization Act restricts Department of Defense language study funding if a
university hosts a Confucius Institute.'* Several other universities (including Dickinson
State University in Pennsylvania, the University of Pennsylvania, and Princeton
University) that had been contemplated opening CIs, have now decided not to do so.
At the same time, Columbia University (and elsewhere) has come under criticism, more
for lack of transparency than for its specific violative activities.’ That said, the majority
of CIs have so far carried out their mission of language and cultural education without
controversy.

In 2014, both the Canadian Association of University Teachers (CAUT) and the
American Association of University Professors (AAUP) called on universities to
terminate CIs unless their agreements with Hanban were renegotiated to provide for
total transparency and compliance with norms of academic freedom."" In 2017, the
National Association of Scholars (NAS), a politically conservative nonprofit advocacy
group,” undertook an exhaustive study of Cls in the United States and produced a
183-page report.'® Echoing the AAUP’s recommendations, the NAS urged closing all
ClIs on the basis of four areas of concern: a restriction of intellectual freedom; lack
of transparency; “entanglement” (with Chinese party—controlled institutions); and
worries about them being used for Chinese “soft power” or pro-PRC propaganda.

In addition to the above concerns, some have argued that the fact that CI language
programs exclusively use PRC textbooks with “simplified” (or mainland-style) Chinese
characters biases the contribution CIs make to Chinese language instruction on
American campuses. In our view, this is not a serious problem, since students should
learn this vocabulary and this form of written characters, so long as the university
also provides the opportunity for students to learn traditional “complex” characters
(used in Hong Kong, Taiwan, Singapore, and many diaspora communities) and to learn
non-mainland vocabulary. A review of the entire set of Hanban textbooks used by CIs
undertaken for this report finds they contain no overt political content. Only in one
of six levels of textbook was there a single lesson on US-China relations, and it was a
speech by former president Barack Obama, in which he asserted that the United States
does not seek to “contain” China. Nor have we found any evidence of interference by

Universities

HOUSE_OVERSIGHT_020501
"
IMAGES-007-HOUSE_OVERSIGHT_022987.txt,"How many degrees of separation between Trump and sex
offender Epstein?

Jane Musgrave Palm Beach Post Staff Writer
2:47 p.m Friday, May 12,2017 Homepage

HOUSE_OVERSIGHT_022987
"
IMAGES-009-HOUSE_OVERSIGHT_026653.txt,"Subject: Press: Heatstreat- ‘Shady’ Israeli Mogul Hires Ex-White House Counsel To Represent Employee
Arrested in Inauguration Day Riot, Raising Questions

Hi Kathy and Stuart,

You may have already seen this article, but sharing it just in case you haven’t. Please let us know if we can be
of any help coordinating with the client’s PR firm, which Stuart mentioned that you were doing yesterday.

According to Wikipedia, “Heat Street is a libertarian conservative news, opinion and commentary website.
Launched in February 2016, the website is headed by U.S. based British writer and former politician Louise
Mensch. It is owned by News Corp under Dow Jones & Company.”

Thanks,

Jamie

‘Shady’ Israeli Mogul Hires Ex-White House Counsel To Represent Employee Arrested in Inauguration Day
Riot, Raising Questions<http://heatst.com/politics/shady-israeli-mo gul-hires-ex-white-house-counsel-to-
represent-employee-arrested-in-inauguration-day-riot-raising-questions/>

By Heat Street Staff] 6:36 pm, January 23, 2017

The mystery surrounding a would-be media magnate — who owns surveillance and security firms working for
repressive regimes — is growing.

The questions about Matania (Mati) Kochavi were sparked again this weekend when Kathryn Ruemmler, who
until recently was President Obama’s White House Counsel, showed up on Saturday morning in local
Washington DC court to represent one of the 217 people arrested for rioting on Inauguration Day.

[http://heatst.com/wp-content/uploads/2017/01/ruemmler-obama.jpg?w=300|]Kathryn Ruemmler and client.

Ms. Ruemmler said she was there to represent a journalist, on assignment for the media company
Vocativ<http://www.vocativ.com/>, who’d gotten swept up with the protesters in the arrests.

Vocativ is owned by Kochavi. Reporters at the courthouse asked why a big gun like Ruemmler, who has long
been a specialist in corporate crime, would show up for what would seem to be a misunderstanding involving a
journalist doing his job.

Ms. Ruemmler told Buzzfeed that Vocativ is a client of her
firm,<https://www.buzzfeed.com/zoetillman/prosecutors-pursue-rioting-charges-over-inaueguration-day-
pro?utm_term=.gtPej4zon#.cgvzaBvG2> Latham & Watkins. The firm is one of the most prestigious law shops
in New York and Washington with partners such as Ruemmler<https://www.lw.com/people/kathrynruemmler>
charging thousands of dollars an hour.

She did look somewhat out of place among the lawyers there to defend anarchists and other alleged
troublemakers who are charged with rioting, burning a limo and smashing up stores on the streets of the capital.
“The individuals charged were generally brought in front of the judge in groups of 10 and were represented by a
cadre of public defenders and other court-appointed lawyers,” according to Buzzfeed. That was not the case
when it came to Vocativ.

Based in New York and Tel Aviv, Vocativ publishes mostly reprints of health studies, aggregated videos for
Facebook, and female focused feature pieces. The company which employs a large team of US journalists and
ex-Israeli intelligence operatives, claims to use technology from the intelligence world to source its stories.
Indeed its founder, Kochavi, has a background in Israeli intelligence, having made his fortune providing
security and military grade public safety solutions to the superrich Emirate of Abu Dhabi through an entity
called AGT.
[http://heatst.com/wp-content/uploads/2017/01/abu-dhabi-mos

HOUSE_OVERSIGHT_026653
"
IMAGES-008-HOUSE_OVERSIGHT_025713.txt,"Sender: e:jeeitunes@gmail.com

Time: 08/18/18 05:43:36 AM (556289016)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: FOE10634-BD01-4995-BBOB-C202E4BC4AAB

Message: Im back wed . ( Thiel coming ). We can discuss response to tax cut
criticism. The 83 percent to rich is misleading by miles . Cash back. Pension
funds up.

Sender: e:jeeitunes@gmail.com

Time: 08/18/18 05:48:01 AM (556289281)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 2A8A60E2-621B-43AE-A028-2E52725AB117

Tr

Message: Corporations are not people. Giving corp breaks , is perceived as giving it
to someone else. wage inflation cant be the first focus, the additional money in
the system. First goes to hiring new people, only afterwards can wages rise. etc.

will you be in ny end of week.?

Time: 08/18/18 05:58:53 AM (556289933)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 925CCIFE-273E-4A14-BE90-C61DB2C17CC9

Message: I'm all day by day now-- heading to see Kudlow then Texas -- u know Kyle Bass?

Sender: e:jeeitunes@gmail.com

Time: 08/18/18 06:03:40 AM (556290220)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: A4AB9E4F-7D1C-480C-BC1D-73CBD9 9AB69F

Message: no . Not a heavy weight. He was at bear for a while. Neither big hat nor
lots of cattle

Sender: e:jeeitunes@gmail.com

Time: 08/18/18 06:04:59 AM (556290299)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: FBCB/7CA6-C63B-4021-8642-217424898977

HOUSE_OVERSIGHT_025713
"
IMAGES-007-HOUSE_OVERSIGHT_023441.txt,"I think I should do it.

On Sep 19, 2014 4:12 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
free now

On Fri, Sep 19, 2014 at 3:46 PM, Kathy Ruemmler — —i—isSsSCs wrote:

Correct. One time, maybe. Twice, no way.

On Sep 19, 2014 3:45 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
of course not , he wouldnt have been so stupid.
---------- Forwarded message ----------
From: Kathy Ruemmler >
Date: Fri, Sep 19, 2014 at 3:44 PM
Subject: Re:
To: ""jeffrey E."" <jeevacation@gmail.com>

Gov is not jewish

On Sep 19, 2014 3:42 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
reid or governor

On Fri, Sep 19, 2014 at 3:02 PM, Kathy Ruemmler ~ 0i—isi‘sSCsCS wrote:

Uh, yeah. We will now go through a period of self-reflection and despair.

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 Ruemmler ei‘ 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 Ruemmler ~~

wrote:

Reid's guy went down on all 7 counts.

On Sep 19, 2014 8:01 AM, ""Kathy Ruemmler"" OG 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 Ruemmler isi
wrote:

Doesn't look like you are prioritizing your schedule very effectively.....how are you
going to manage all of that? this is unga week so the boss will be in town too.....I'll
be here all week -- you may get sick of me....just sat down on the train so can't talk
freely.

On Sep 19, 2014 7:48 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote:

HOUSE_OVERSIGHT_023441
"
IMAGES-004-HOUSE_OVERSIGHT_016642.txt,"SUPPLY SOURCES

SURFACE WATER

SOURCES

Clear Lake
Existing
Infrastructure
Variable
Quality
Watering
Restrictions

Permitted

Atlantic Ocean

Unlimited
Supply
Complex
Treatment
Consistent WQ
Greenhouse
Gases

Highest Cost

abelle

Lake
Okeechobee

> Ne

Tr

Upper Floridan Aquifer

Middle: Confining Unit
Lower Floridan Aquifer

Lower Confining Unit

Boulder Zone

ALR

tall

West Palm

Beach

Girpeiea]
ve

furtolal
Wall

wa fits

EAST

GROUNDWATER
SOURCES

Surficial Aquifer
100 - 150 feet deep
Consistent WQ
Watering Restrictions
Saline Intrusion
Limited Allocation
Availability Unknown
30 - 50 Sites Needed

Floridan Aquifer
1,000-1,200 ft deep
Consistent WQ
Long-Term Degradation
Very Costly

No Watering Restrictions
Limited Allocation

12 - 20 Sites Needed

HOUSE_OVERSIGHT_016642
"
IMAGES-011-HOUSE_OVERSIGHT_031695.txt,"This Break Fast is one of a number of social events involving post-prison Jeffrey that attracted celebrated, powerful people.
Of course I have zero idea who said, ""NO WAY"" and didn't cross his doorway.

My questions are:

1) I You have known him for decades, were/are friends, etc.

Why was your reaction to his crimes to continue being his friend --- and not in a covert way?
2) What would he have had to do for you to shun him --- to cut him out of your life?

You're the ultimate professional; you may not want to respond.

Especially because I'm NOT reaching out to anyone else who's named in the piece.

I don't care about them.

But it ain't me to blindside you.

JK

On Apr 30, 2011, at 4:03 PM, Peggy Siegal wrote:

Would love to talk to you. What is piece about? Peg
----- Original Message -----

From: Jesse Kornbluth Ps

To: Peggy Siegal

Sent: Sat Apr 30 15:38:06 2011

Subject: from Jesse Kornbluth

Peg ---

As you've seen, I'm doing a piece for the Times.
You're briefly in it.

I'd like 3 minutes of your time, if possible.

Turning it in late Sunday....

We could do this by email.
Or phone.

nat
If I'm out, my cell : iii

THANKS

JK

HOUSE_OVERSIGHT_031695
"
IMAGES-002-HOUSE_OVERSIGHT_013175.txt,"13.5 Neural Foundations of Learning 259

in the mean activation of A2 that occurs at time t+epsilon) is on average closest to w x
(the amount of energy flowing through the bundle from A1 to A2 at time t). So when Al sends
an amount x of energy along the synaptic bundle pointing from Al to A2, then A2’s mean
activation is on average incremented/decremented by an amount w x 2.

In a similar way, one can define the weight of a bundle of synapses between a certain static
or temporal activation-pattern P1 in assembly Al, and another static or temporal activation-
pattern P2 in assembly A2. Namely, this may be defined as the number w so that (the amount
of energy flowing through the bundle from Ai to A2 at time t)xw best approximates (the
probability that P2 is present in A2 at time t+epsilon), when averaged over all times t during
which P1 is present in Al.

It is not hard to see that Hebbian learning on real synapses between neurons implies Hebbian
learning on these virtual synapses between cell assemblies and activation-patterns.

These ideas may be developed further to build a connection between neural knowledge rep-
resentation and probabilistic logical knowledge representation such as is used in CogPrime’s
Probabilistic Logic Networks formalism; this connection will be pursued at the end of Chapter
34, once more relevant background has been presented.

13.8.3 Neural Darwinism

A notion quite similar to Hebbian learning between assemblies has been pursued by Nobelist
Gerald Edelman in his theory of neuronal group selection, or “Neural Darwinism.” Edelman won
a Nobel Prize for his work in immunology, which, like most modern immunology, was based on
C. MacFarlane Burnet’s theory of “clonal selection” [Bur62], which states that antibody types
in the mammalian immune system evolve by a form of natural selection. From his point of view,
it was only natural to transfer the evolutionary idea from one mammalian body system (the
immune system) to another (the brain).

The starting point of Neural Darwinism is the observation that neuronal dynamics may be
analyzed in terms of the behavior of neuronal groups. The strongest evidence in favor of this
conjecture is physiological: many of the neurons of the neocortex are organized in clusters, each
one containing say 10,000 to 50,000 neurons each. Once one has committed oneself to looking at
such groups, the next step is to ask how these groups are organized, which leads to Edelman’s
concept of “maps.”

A “map,” in Edelman’s terminology, is a connected set of groups with the property that when
one of the inter-group connections in the map is active, others will often tend to be active as
well. Maps are not fixed over the life of an organism. They may be formed and destroyed in
a very simple way: the connection between two neuronal groups may be “strengthened” by in-
creasing the weights of the neurons connecting the one group with the other, and “weakened” by
decreasing the weights of the neurons connecting the two groups. If we replace “map” with “cell
assembly” we arrive at a concept very similar to the one described in the previous subsection.

Edelman then makes the following hypothesis: the large-scale dynamics of the brain is dom-
inated by the natural selection of maps. Those maps which are active when good results are
obtained are strengthened, those maps which are active when bad results are obtained are
weakened. And maps are continually mutated by the natural chaos of neural dynamics, thus
providing new fodder for the selection process. By use of computer simulations, Edelman and his
colleagues have shown that formal neural networks obeying this rule can carry out fairly compli-

HOUSE_OVERSIGHT_013175
"
IMAGES-005-HOUSE_OVERSIGHT_019138.txt,"Officer Pagan’s startin
uncharted waters. She's yc
this have been minor. Ro
used to the Gold Coast. SI
to her, the less affluent tov
well be somewhere in Gec
know that in the back .
whispering.

What’s a guy with that

a ee

CHAPTER 8

out west? The women arour
Extortion?

. The kid’s fourteen. Wha

Michele Pagan: March 2005 amen |

things we’ve never dreamed

No, Pagan thinks. This

n March 15, Palm Beach police officer Michele Pagan She's the one who’s goi

takes the first call from Mary's stepmother.
“Ma'am,” she says, “I'm going to have to ask you to
come down to the station.”
“{ don’t want to say anything more until I s

husband.”
“Ma'am, I appreciate that. But I'd urge

peak with my

you to come in. Let us

Gnd out what happened. Please.” 5
“Tl get back to you.” j 3
“Please, ma’am. I’m here for the rest of the day. We're on ; ae

South County Road.”

At the station, Mary’s father does most of the talking.
“There was an incident,” he says. “At school. A fight between

Mary and another girl. But please understand, our Mary's not

like that.”

22

HOUSE_OVERSIGHT_019138
"
IMAGES-010-HOUSE_OVERSIGHT_028955.txt,"From: Lisa Ne

Sent: 12/7/2015 7:01:10 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: and....another bit of advice ...P on WA

Importance: — High
Dear Jeffrey,

As you probably know, Woody Allen's legal team said that we couldn't use the film we shot of him: online, for
broadcast, anywhere.

It was a fantastic experience taping with him and so, even if I can't ever use the footage, I'm still grateful to you
for making the day possible. But of course I'd like to use the footage. I decided when--way back-- we got this
very negative answer back from his lawyers that I should just take my time about asking --since it 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)

HOUSE_OVERSIGHT_028955
"
IMAGES-006-HOUSE_OVERSIGHT_022316.txt,"Federal Register/Vol. 76, No. 168/Tuesday, August 30, 2011/Rules and Regulations

54045

Some comments assert that the
content of the notice will prompt
employee questions, which managers
and supervisors will have to answer,
and be trained to answer, and that the
Board failed to account for the cost of
such training and discussions in terms
of lost work time.2°5 Other comments
contend that employers will incur costs
of opposing an increased number of
union organizing campaigns.?°®
Relatedly, several comments state that
employers should be allowed to, and/or
will respond to the notice by informing
employees of aspects of unionization
and collective bargaining that are not
covered by the notice; some suggest that
employers may post their own notices
presenting their point of view.2°7 (A few
comments, by contrast, protest that
employers will be prohibited from
presenting their side of the issues raised
by the posting of notices.) The Board
responds that any costs that employers
may incur in responding to employee
questions, in setting forth the
employers’ views on unions and
collective bargaining, or in opposing
union organizing efforts will be incurred
entirely at the employers’ own volition;
they are not a cost of complying with
the rule.

As discussed above, many comments
express concerns that union supporters
will tear down the notices in order to
expose employers to 8(a)(1) liability for
failing to post the notices. Some of these
comments also contend that, as a result,
employers will have to spend
considerable time monitoring the
notices to make sure that they are not
torn down, or incur additional costs of
installing tamper-proof bulletin boards.
One commenter predicts that his
employer will have to spend $20,000 for
such bulletin boards at a single facility,
or a total of $100,000 at all of its
facilities, and even then will have to
spend two hours each month
monitoring the postings. For the reasons
discussed above, the Board is not
convinced at this time that the problem
of posters being torn down is anything
more than speculative, and accordingly
is inclined to discount these predictions
substantially. In any event, the rule
requires only that employers ‘‘take
reasonable steps’’—not every
conceivable step—to ensure that the

205 See, e.g., comments of Cass County Electric
Cooperative and Baker & McKenzie. The latter
estimates that each private sector employee will
spend at least an hour attending meetings
concerning the content of the notice, and that the
cost to the economy in terms of lost employee work
time will be $3.5 billion.

206 See, e.g., comment of Dr. Pepper Snapple
Group.

207 See, e.g., comments of Metro Toyota and
Capital Associated Industries, Inc.

notice is not defaced or torn down. The
rule does not require, or even suggest,
that employers must spend thousands of
dollars to install tamper-proof bulletin
boards or that employers must
constantly monitor the notice.2°8

One comment contends that most
small employers do not have 11 x 17-
inch color printers, and therefore will
have to have the posters printed
commercially at a cost that, alone,
assertedly will exceed the Board’s
estimate of the cost of the rule. The
Board understands the concerns of this
small employer. The Board points out
that it will furnish a reasonable number
of copies of the notice free of charge to
any requesting employer. Moreover, as
explained above, employers may
reproduce the notice in black-and-white
and may print the notice on two
standard-sized, 8.5 x 11-inch pages and
tape or bind them together, rather than
having them printed commercially.

A number of comments argue that the
rule will lead to workplace conflict. For
example, the comment of Wiseda
Corporation contains the following:

Unnecessary Confusion and Conflict in the
Workplace. The labor law terms and
industrial union language of the proposed
notice (such as hiring hall and concerted
activity) present an unclear and adversarial
picture to employees. Most non-union
employers like us, who wish to remain non-
union, encourage cooperative problem
solving. In a modern non-union workplace,
to require such a poster encouraging strikes
and restroom leaflets is disrespectful of the
hard work and good intentions of employers,
management, and employees. The proposed
poster would exist alongside other company
notices on problem-solving, respect for
others, resolving harassment issues, etc., and
would clearly be out of character and
inappropriate. (Emphasis in original.)
Another comment puts it more bluntly:
“The notice as proposed is more of an
invitation to cause employee/employer
disputes rather than an explanation of
employee rights.” The Board’s response
is that the ill effects predicted in these
comments, like the predicted adverse
effects of unionization discussed above,
are not costs of compliance with the
tule, but of employees’ learning about
their workplace rights. In addition,
Congress, not the Board, created the
subject rights and did so after finding
that vesting employees with these rights
would reduce industrial strife.

B, Paperwork Reduction Act (PRA) 29

The final rule imposes certain
minimal burdens associated with the

208 Contrary to one comment’s suggestion, no
employer will be “bankrupted” by fines imposed if
the notice is torn down. As explained above, the
Board does not have the authority to impose fines.

209 44 U.S.C. 3501 et seq.

posting of the employee notice required
by § 104.202. As noted in § 104.202(e),
the Board will make the notice
available, and employers will be
permitted to post copies of the notice
that are exact duplicates in content,
size, format, and type size and style.
Under the regulations implementing the
PRA, “[t]he public disclosure of
information originally supplied by the
Federal government to [a] recipient for
the purpose of disclosure to the public”
is not considered a ‘‘collection of
information” under the Act. See 5 CFR
1320.3(c)(2). Therefore, contrary to
several comments, the posting
requirement is not subject to the
PRA.21°

The Board received no comments
suggesting that the PRA covers the costs
to the Federal government of
administering the regulations
established by the proposed rule.
Therefore, the NPRM’s discussion of
this issue stands.

Accordingly, this rule does not
contain information collection
requirements that require approval by
the Office of Management and Budget
under the PRA (44 U.S.C. 3507 et seq.).

C. Congressional Review Act (CRA}?""!

This rule is a “‘major rule” as defined
by Section 804(2) of the Small Business
Regulatory Enforcement Fairness Act of
1996 (Congressional Review Act),
because it will have an effect on the
economy of more than $100 million, at
least during the year it takes effect. 5
U.S.C. 804(2)(A).212 Accordingly, the

210 The California Chamber of Commerce and the
National Council of Agricultural Employers dispute
this conclusion. They assert that the PRA
distinguishes between the “agencies” to which it
applies and the “Federal government,” and
therefore that the exemption provided in 5 CFR
1320.3(c)(2) applies only to information supplied by
“the actual Federal government,” not to information
supplied by a Federal agency such as the Board.
The flaw in this argument is that there is no such
legal entity as “the [actual] Federal government.”
What is commonly referred to as ‘‘the Federal
government” is a collection of the three branches
of the United States government, including the
departments of the executive branch, and the
various independent agencies, including the Board.
If ‘the Federal government” can be said to act at
all, it can do so only through one or more of those
entities—in this instance, the Board—and that is
undoubtedly the meaning that the drafters of 5 CFR
1320(c})(2) meant to convey.

2115 U.S.C. 801 et seq.

212 A rule is a “major rule” for CRA purposes if
it will (A) Have an annual effect on the economy
of $100 million or more; (B) cause a major increase
in costs or prices for consumers, individual
industries, government agencies, or geographic
regions; or (C) result in significant adverse effects
on competition, employment, investment,
productivity, innovation, or the ability of United
States-based enterprises to compete with foreign-
based enterprises in domestic and export markets.
5 U.S.C. 804. The notice-posting rule is a “major

Continued

HOUSE_OVERSIGHT_022316
"
IMAGES-010-HOUSE_OVERSIGHT_029493.txt,"Business Expansion Portfolio and Prospectus
Twin City Care of The Virgin Islands
18

1.4 Current Assets

Twin City Care, Inc. has current assets consisting of training equipment, 1-2017 Ambulance,
EMS Equipment, office furniture and supplies for a total of $358,811.74.

TWIN CITY EXPANSION NEEDS FINANCIAL PROPOSAL:

Additional Radio Communications

| | Annual Total $30,250.00

Additional Portable Communications

Tele- Communications

Internet Office Broad Band ps / $400.00
Month

injernel Mobile AT&T oS au / $500.00
Month

Facility Purchase

10000 Sqft Building fT 82,350,000.00

Annual Total $2,350,000.00

HOUSE_OVERSIGHT_029493
"
IMAGES-003-HOUSE_OVERSIGHT_016444.txt,"Licata said the questions from Epstein’s civil lawyers were so intimate that she
became paranoid that people were following her.

“His lawyers were just in my life inside and out. They asked if I had a baby, if I
had an abortion, ‘did you sleep with 30 different guys’ and ‘do you think that
played a part?’ I said, ‘you're going to come at me like that when you represent a
guy who is doing this to hundreds of girls? How do you sleep at night?’ ”

BROOKLYN TO PALM BEACH

Jeffrey Epstein was born in Brooklyn, the son of a New York parks department
worker. In one of several depositions he gave as part of the lawsuits filed against
him, he said he attended the Cooper Union school for the advancement of
science and art and then studied physics at New York University. But he never
obtained a degree, instead going on to teach at the Dalton School, an elite K-12
private academy on Manhattan’s Upper East Side. Various news profiles over the
years have speculated about how he made his vast fortune, calling him an
“International Moneyman of Mystery’’ and “The Talented Mr. Epstein.”

He then struck out on his own, opening J. Epstein & Co. His fortunes improved
when he became a financial advisor for Leslie Wexner, founder of The Limited
stores and owner of Victoria’s Secret brands. Later, Epstein would boast that he
would manage the portfolios of only those clients who had $1 billion or
more.This much is known: He got his start on Wall Street after being offered a
job by the father of one of his students. At Bear Stearns, he became a derivative
specialist, applying complex math formulas and computer algorithms to evaluate
financial data and trends.

Through Wexner, he acquired a seven-story stone mansion that is considered the
largest private residence in Manhattan — a 21,000-square-foot fortress with
heated sidewalks that spans the entire block on 71st Street between Fifth and
Madison Avenues.

He also owns a 10,000-acre ranch, named “Zorro,”’ in New Mexico, a private
island called “Little St. James’ in the Virgin Islands, the $13 million house in
Palm Beach, a Gulfstream jet and, at one point, owned a Boeing 727.

HOUSE_OVERSIGHT_016444
"
IMAGES-003-HOUSE_OVERSIGHT_016322.txt,"In short, we need to enable robots to reason about us—to see us as something
more than obstacles or perfect game players. We need them to take our human nature
into account, so that they are well coordinated and well aligned with us. If we succeed,
we will indeed have tools that substantially increase our quality of life.

102

HOUSE_OVERSIGHT_016322
"
IMAGES-005-HOUSE_OVERSIGHT_018540.txt,"""innate."" Some BDSMers consider BDSM an ""orientation"" -- and I, myself, once found
that thinking of BDSM as an orientation was extremely helpful in coming to terms with
my BDSM desires. But one thing I don't like about the orientation model now is that it
makes us sound like we're apologizing. ""Poor little me! It's not my fault I'm straight! Or a
domme! Whatever!"" Why would any of these things be faults in the first place? Our
bodies are our own, our experiences are our own, and our consent is our own to give.

The orientation model is one of the cultural factors that makes it hard to discuss sensory,
sensual experiences without defaulting to sexuality. As commenter saurus pointed out on
the Feministe version of part 1 of this post:

Sometimes I think that we have compulsions, needs or ""fetishes"" that aren't sexual, but
lumping them in with sexuality is sometimes the most convenient or socially manageable
way to deal with them or get those needs met. They might even physically arouse us for a
variety of reasons, but that might be a side effect instead of the act's inherent nature.
Which is not to say that every act can be cleanly cleaved into ""sexual"" and ""non-sexual""
-- of course not. But I think we lack a language around these needs that doesn't use
sexuality. I see a lot of groundbreaking work coming out of the asexual and disability
justice communities in this regard (which is just to say that I find the folks in these
groups are churning out some incredible ways to ""queer"" conventional dominant ideas
about sexuality; not that they never have sex or whatever).

I think one answer to that is to just open up the definition of sexuality to include these
things, but as someone who identifies vehemently not as ""sex positive"" but as ""sex non-
judgmental,"" I know I don't personally want all my shit to be lumped in with sexuality. It
just makes me picture some sex judgmental person insisting that ""oh, that's totally
sexual.”

I, Clarisse, can certainly attest that it's common for people to have BDSM encounters that
are ""just"" BDSM -- ""no sex involved.” For example -- an encounter where one partner
whips the other, or gets whipped, and there's no genital contact or even discussion of
genitals. And I'd like to stress that when I have encounters like that, they can be very
satisfying without involving sex. The release -- the high -- I get from a heavy BDSM
encounter can be its own reward.

I've also had BDSM encounters where I got turned on...

... but I didn't feel turned on until later, or afterwards, or until my partner did something
specific to draw out my desire. For example -- I remember that in one intense BDSM
encounter as a domme, I wound up the encounter and pulled away from my partner. We
had both been sitting down; I stood up and took off the metal claws I'd been using to rip
him up. (Secretly, the claws were banjo picks. Do-It-Yourself BDSM is awesome.)

Then I leaned over my partner to pick something up. I had thought we were pretty much
done, but he seized me as I leaned over, and he pulled me close and kissed my neck, and I
literally gasped in shock. My sexual desire spiked so hard... I practically melted into his
arms. And yet if you'd asked me, moments before, whether I was turned on... I would
have said ""no.""

One way to think about it might be that sometimes, BDSM ""primes"" me so that I'm

HOUSE_OVERSIGHT_018540
"
IMAGES-005-HOUSE_OVERSIGHT_019886.txt,"“Bolton’s mustache is a problem,” snorted Bannon. “Trump doesn’t think he looks the
part. You know Bolton is an acquired taste.”

“Well, rumors were that he got in trouble because he got in a fight in a hotel one night
and chased some woman.”

“If I told Trump that, he might have the job.”

OOK Ok

Bannon was curiously able to embrace Trump while at the same time suggesting he did
not take him entirely seriously. He had first met Trump, the on-again off-again presidential
candidate, in 2010; at a meeting in Trump Tower, Bannon had proposed to Trump that he
spend half a million dollars backing Tea Party-style candidates as a way to further his
presidential ambitions. Bannon left the meeting figuring that Trump would never cough up
that kind of dough. He just wasn’t a serious player. Between that first encounter and mid-
August 2016, when he took over the Trump campaign, Bannon, beyond a few interviews
he had done with Trump for his Breitbart radio show, was pretty sure he hadn’t spent more
than ten minutes in one-on-one conversation with Trump.

But now Bannon’s Zeitgeist moment had arrived. Everywhere there was a sudden
sense of global self-doubt. Brexit in the UK, waves of immigrants arriving on Europe’s
angry shores, the disenfranchisement of the workingman, the specter of more financial
meltdown, Bernie Sanders and his liberal revanchism—everywhere was backlash. Even
the most dedicated exponents of globalism were hesitating. Bannon believed that great
numbers of people were suddenly receptive to a new message: the world needs borders—
or the world should return to a time when it had borders. When America was great. Trump
had become the platform for that message.

By that January evening, Bannon had been immersed in Donald Trump’s world for
almost five months. And though he had accumulated a sizable catalogue of Trump’s
peculiarities, and cause enough for possible alarm about the unpredictability of his boss
and his views, that did not detract from Trump’s extraordinary, charismatic appeal to the
right-wing, Tea Party, Internet meme base, and now, in victory, from the opportunity he
was giving Steve Bannon.

OOK Ok

“Does he get it?” asked Ailes suddenly, pausing and looking intently at Bannon.

He meant did Trump get it. This seemed to be a question about the right-wing agenda:
Did the playboy billionaire really get the workingman populist cause? But it was possibly
a point-blank question about the nature of power itself. Did Trump get where history had
put him?

Bannon took a sip of water. “He gets it,” said Bannon, after hesitating for perhaps a
beat too long. “Or he gets what he gets.”

HOUSE_OVERSIGHT_019886
"
TEXT-002-HOUSE_OVERSIGHT_033194.txt,"From: Richard Kahn 
Sent: 11/16/2016 10:33:03 AM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Saudi Arabia warns Trump on blocking oil imports 
Importance: High 
http://www.cnbc.com/2016/11/16/saudi-arabia-warns-trump-on-blocking-oil-imports.html 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue, 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033194 
"
TEXT-001-HOUSE_OVERSIGHT_026047.txt,"From: Weingarten, Reid 
Sent: 12/20/2016 5:06:06 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: RE: Re: 
Importance: High 
Yikes...my boy jeffrey is everywhere.... 
From: jeffrey E. [mailto:jeevacation@gmail.com] 
Sent: Tuesday, December 20, 2016 12:05 PM 
To: Weingarten, Reid 
Subject: Re: Re: 
So What Does Pizzagate Have To Do With President Bill Clinton? 
President Clinton's involvement in Pizzagate has been peripheral until now, but the scandal is opening closets 
that both Bill and Hillary Clinton would have wished stayed closed. However, last month, the Guardian 
reported that during the second presidential debate, Donald Trump brought along four women who have 
accused Bill Clinton of sex crimes, including rape. 
The U.K. broadsheet surmised that this was an attempt by Trump to deflect from allegations of misogyny and 
sexual misconduct by Trump himself As time has passed, the specter of billionaire pedophile Jeffrey Epstein 
has re-emerged. It is perhaps Clinton's relationship with Epstein that has the greatest bearing on Pizzagate. 
On Tue, Dec 20, 2016 at 11:26 AM, Weingarten, Reid < wrote: 
Yes... 
From: jeffrey E. [mailto:jeevacation@omail.com] 
Sent: Tuesday, December 20, 2016 9:23 AM 
To: Weingarten, Reid 
Subject: Re: 
now? 
On Mon, Dec 19, 2016 at 4:23 PM, Weingarten, Reid wrote: 
Have an idea... 
From: jeffrey E. [mailto:jeevacation@omail.com] 
Sent: Monday, December 19, 2016 3:01 PM 
To: Weingarten, Reid 
Subject: 
is there something you want to tell me? 
please note 
HOUSE OVERSIGHT 026047 
The information contained in this communication is 
confidential, 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 026048 
"
IMAGES-002-HOUSE_OVERSIGHT_013613.txt,"Semiophysics, discusses mathematical mechanisms and their representations in
mind and the real world, analogizing mathematical objects and the intuitions they
generate to mechanical tools. Similar ideas are found among the four liberal arts of
the ancients: Number, Geometry, Music and Cosmology. The epistemologies of all
four require, then and now, the intuitive use of mathematical objects, conscious or
unconscious. Examples can be found in conceptual issues of Geometry and
Number with implications for relationships between man’s physical and
psychological worlds. One set of articulations were attributed to the shapes of
Platonic solids found among the Neolithic stone circles in Aberdeenshire, Scotland,
2000 years before Plato. Each symbolized particular physical and psychological
themes. All manifested equal edges and every face of each solid was the same
perfect polygon. The solid with four equilateral triangles manifesting four vertices
and faces, the tetrahedron, represented the physical element, Fire, and the
personal psychological climate of a choleric, fiery nature. A Platonic solid composed
of eight equilateral triangular faces, two tetrahedrons annealed, the octahedron,
signified Air in physical composition and optimistic hopefulness in psychological
disposition. Six square faces together making a cube, evoked the elemental
physical component, Earth, and its human expression as a phlegmatic, apathetic
personal style. Twenty faces, all equilateral triangles, constitute an icosahedron
indicating Water and a dominant feeling state of melancholic sadness. Like
onomatopoeic words and pictorial script, the three dimensional geometry of these
Platonic solids feel like what they came to symbolize.

The personality styles symbolized and evoked by the Platonic solids continue
to be used to this day. For example, they compose the basic elements of the
constitutional categories of remedy in homeopathic medicine as introduced over
200 years ago by Dr. Samuel Hahnemann in his classical Organon of the Medical
Art. The assignment of clinical remedy in homeopathic treatment combines
consideration of the presenting physical symptoms and signs, the what, with
intuitive discernment of the patient’s constitutional type, the who. To the
homeopathic physician, tetrahedral fire is suggested by the traits of personal

magnetism, courage and inspiration as well as egotism, strong desire and rage.

113

HOUSE_OVERSIGHT_013613
"
IMAGES-006-HOUSE_OVERSIGHT_022470.txt,"A Breakthrough in the Mystery of Why
Women Get So Many Autoimmune
Diseases

HOUSE_OVERSIGHT_022470
"
IMAGES-006-HOUSE_OVERSIGHT_021179.txt,"such high prospects lowering herself to something of Jeffrey’s standards,
but I later found out through Jeffrey that he had donated money to her
continuous exploration into marine life and habitats. She had followed in
her family’s footsteps, all of them involved in Marine Biology in some
way or another. We actually got along really well, she was a real decent
girl, and loved talking about her passion, everything underneath the
waters surface.

When I wasn’t busy giving massages to everyone around, her and I
would hang out together. Often we go swimming in the crystal clear pool
of ocean that the Caribbean had to offer. Once we swam out so far not
paying attention to our location and were carried out to sea by the current.
We took tums on the backs of each other, taking breaks against the strong
ocean tide. It was almost a possibility that we nearly drowned out there, if
it weren’t for some guys on a boat out fishing for the day when they
caught us in their view. They picked us up and brought us back to the
island where we were reprimanded by a worried Jeffrey and Ghislane to
first of all let someone know where we are going at all times, and never
to lose sight of the shore while out for a swim. After that learning
experience | took their heed and proceeded with caution. [ had a
newfound respect for the ocean and it’s mysteries.

Having such a lover of the water as a guest, made Jeffrey want to
explore parts of his Caribbean he had never seen before. The next
morning we were met by a scuba instructor in St. James and given a few
lessons in how to use the gear and more tips like how to descend slowly
to the ocean floor as not to cause blood clots as well as visual hand
signals to communicate underwater. It was so exhilarating beneath the
waters surface. No voices to listen too, only the enchanting sights to take
in. We explored the surrounding reef and found a large squid, many of
sea urchins, and the magnificent colored coral that housed a many of the
rich variety of the local species of fish. It was such a great sight to take
in. Holding a permanent mental picture of those adventures to carry in my
head for all times.

We all had such a great time that Jeffrey hired the same scuba
instructor to come out the next day to scuba dive the safer parts around
his island. We got bored quickly with not much to see but seaweed and a
fish here and there. It didn’t take long before Ghislane decided for us all
to explore other numerous locations by boat, Jeffrey needed a bit of
convincing at first and the instructor was quick to assure him that he
knew his way well around these waters, of course he would say that, he
was getting paid a hell of lot to do this in the first place, why not extend
it a few more hours?

The clear water glistened and the tropical array of marine life was on
display as we wanted to stop at so many places but you could see as

69

beautiful as it was it could be as equally dangerous. [t took so long as we
had to veer away from so many desirable spots. Finally we found a good
place that the scuba instructor thought was safe. He buddied us up into
pairs and we jumped off the back of the boat into the crystal aqua blue
waters beginning our descent slowly into the darker regions of the oceans
floor. We were situated on open water with a cavern of reefs to venture in
and around down below. It seemed to be quite a choice to scuba in, one
that our guide said he wasn’t familiar with but to alleviate his bored
clientele deemed safe to swim around.

It was Jeffrey and the Guide together, Ghislane and Emmy, and I was
paired up with Alexandria. Miles, the houseman, came with us and stayed
on the boat just in case something went wrong and lucky he did. We were
all too far under the water to hear his alarming screams of distress when
shadow’s lurking in the murky distance started appearing closer and
closer. Ghislane actually looked frightened for once as she gave us the
signal to start ascending upwards, reminding us by holding her ears not to
go up to quick or as we were previously warned before we could pop a
blood vessel in our brain and hemorrhage to death, not a very lovely
image but neither was getting torn apart by sharks. Those giant shadows
became clearer and soon enough we could recognize their indistinct
species as the terrifying and more aggressive breed of sharks, the
hammerhead. Grabbing Miles hand | was the last one ahead of the Guide
to get on the boat imaging the worst as I waited behind Emmy and
Alexandria who were the next to follow after Jeffrey and Ghislane I was
in too much shock to scream or cry, | just told myself I had to stay calm
to get out of this alive. Unlucky for us we found out later on that we were
in their breeding territory and being sent a clear message that we were
soon to be on the menu to their feeding frenzy.

We all felt like we had cheated death and I know it wasn’t only my
heart that was still beating out of my chest when we headed back to

Jeffrey’s island. Jeffrey was pale as his designer sheets and looked like he

had aged another ten years in such a scared state. Ghislane took the heat
off herself even barely taking a notice of beforehand and decided to poke
fun at all of us frantically scurrying to get out of the water, it was just her
nature, as I had never seen her move so quickly either. We got back to the
island and all collapsed our fatigued bodies in our own beds for a long
nap. Freshened up and much more relaxed we regaled our horrendous
story again over dinner, this time in laughter. The following afternoon
Ghislane piloted us all in the helicopter to St. John’s Airport and we said
good-bye to Alexandra where we all parted ways. I met her a few more
separate times in Palm Beach at Jeffrey’s Mansion, but she wasn't a
regular of his, probably not as easy as the troubled girls were to bribe.

70

! Copyright Protected Material 1 Copyright Protected Material
CONFIDENTIAL GIUFFRE004202 CONFIDENTIAL GIUFFREO04 203

HOUSE_OVERSIGHT_021179
"
IMAGES-009-HOUSE_OVERSIGHT_028118.txt,"I was not just angry, but frustrated at my inability to rebut the story in
person. Doron and I immediately made arrangements to return to Israel early,
which, since there was no direct air connection, meant finding the first flight out
through London. But before we left, Nava phoned again, almost sputtering in
fury. She told me that she’d just received a call from Aliza Goren, Rabin’s
media spokesperson. “Does Ehud know about the Yediot story?” she’d asked.
When Nava said yes, Aliza told her: “It is important that Ehud knows that we
are not going to get involved in getting him out of this.”

Welcome to politics, 1 thought. Rabin knew that the story was untrue. I’d still
been in Tze’elim when I’d phoned him about what had happened. He knew I’d
remained there to order in the medical helicopters and arrange for the
evacuation of the wounded before returning to brief him. Still, he did not say a
single word in public — nor, for that matter, speak to me — as the controversy
continued to gather force.

During our stopover in London, I sat with Doron and talked through how to
get my voice heard. I telephoned Yoni Koren, the officer who’d been my top
aide in the kirva and whom I'd asked to work for me in the Interior Ministry,
assuming I now actually got there. I told him to phone Amnon Lipkin and say
that I had expected him to answer the fabrications. Not only had he and I been
at the site of tragedy together. We'd /eft together, on the same helicopter.
Amnon did now issue a statement saying that he knew Yediot’s allegations were
wrong. But the story had been allowed to stand for too long. His rebuttal caused
barely a ripple.

As I read the latest Israeli newspapers before landing in Tel Aviv, I found
that at least I wasn’t totally on my own. Reporters had been phoning politicians
for comment. Most responded like weathervanes, going with the prevailing
wind, which was gusting against me. But three Knesset members dissented. One
was Ori Or, a friend even before we’d both gone into the army, and who had
now joined Labor. The other two were leading members of Likud: Dan Meridor
and Benny Begin, Menachem Begin’s son. All three said they were sure the
allegations were false. Did they know the details about the accident, they were
asked. No, they replied, they didn’t need to. They knew me.

Now all I had to do was convince the rest of the country. It had been nearly a
week since the Yediot’s “exposé”. It was Yoni Koren who passed on a request
from Channel | television, our equivalent of the BBC. They were proposing that
I appear with Nissim Mishal, the man who had interviewed me 10 years earlier,

at the urging of Rabin’s political aide, on my first TV appearance. For Mishal,

270
HOUSE_OVERSIGHT_028118
"
IMAGES-003-HOUSE_OVERSIGHT_014535.txt,"Korea’s nuclear program and missile launches go unchecked. There is rising risk of

military incidents—or accidents—in the South China Sea and across the Taiwan Strait.

China is the most likely source of global economic shocks over the next two to
three years. The country’s leadership continues to prioritize imbalanced economic
growth over structural reforms, thereby increasing debt at an unsustainable pace. Such
increases will eventually prove to be destabilizing.

In Donald Trump, the US has elected an unconventional president in many
respects, including his more US-centric approach to China. If China responds to,
say, imposition of US tariffs on imports of Chinese products by sharply devaluing
the renminbi, significant downside volatility and tighter global financial conditions
will follow.

Given already high US equity valuations, uncertain economic and political policy
prospects and heightened geopolitical risks, readers may well ask why we continue to
recommend staying fully invested in US equities. Among the reasons:
¢ Our eight-year US preeminence theme is intact and continues into its ninth year.

As Professor Jeremy Siegel of the University of Pennsylvania wrote 23 years ago in
Stocks for the Long Run' and recently repeated in a Wall Street Journal interview,

“Stocks are the best long-run asset.” We refine that view by saying US equities are

the best long-run asset.

e We think that the policy backdrop in the US will be particularly favorable for
the economy, with looser fiscal policy, relatively easy monetary policy and a less
stringent regulatory environment. We expect US growth to continue through 2017.

¢ We expect global growth to improve modestly, from 2.5% in 2016 to 2.9% in
2017, with looser fiscal policy and still easy monetary policy in key countries.

e And last but not least, we expect that while President-elect Trump’s initial policy
measures with respect to tariffs and trade agreements risk jolting financial markets,
as a self-described “deal maker” he will likely adjust and change course as necessary
to achieve his desired results.

We may have a bumpy ride, but the US economy will not be derailed.

Over the years, we have viewed the glass as half-full—if not full—when it comes
to the US economy. Many others have seen the glass as half-empty, pointing out that
productivity growth has decreased, US labor demographics are less favorable and
government policies have been ineffective. While it is correct that productivity growth
has decreased and labor demographics are less favorable, it does not follow that the
US economy is in stagnation. Quite the reverse.

2 | Goldman Sachs | JANUARY 2017

HOUSE_OVERSIGHT_014535
"
IMAGES-012-HOUSE_OVERSIGHT_032642.txt,"CNN

RLK: We have to wait and see how that strengthening of
reform and strengthening of rule of law is going to turn out.

HOST: Indeed. I do have one final question because Mr.
Trump is heading that way in a matter of days really. What
does Mr. Xi make of Donald Trump? Donald Trump thinks
they’re best buddies. What do you think Mr. Xi makes of
Donald Trump?

RLK: Before Trump came into office I know very specifically
there were various think tanks that were engaging in
various scenario planning on how to deal with Trump and
his vicissitudes.

RLK: And the conclusion was to let it play out, don’t react
to virtually anything, and treat the U.S. just like it did in
normal times. And so] think that will be the approach. It'll
be very straight forward. China won't react to the highs or
lows. It’ll treat the protocol at a very high level. And I think
based on Trump’s personality that he will react well to that.
The substance that comes out of that, whether it’s North
Korea or trade, will have to wait. We could be quite
skeptical about the substance of the results, but I think the
form will look good.

HOST: It’s going to be fascinating. Robert Lawrence Kuhn,
great to have you on again. Appreciate your insights. Thank
you.

_—
bff i

CHINA'S NEW sr PLAYERS
CHINA BLACKS OUT CNN'S COVERAGE OF CHINESE POLITICS CNN

Robert Lawrence Kuhn | Longtime Advisor to Chinese Government

:
CHINA'S NEW POWER PLAYERS

TRUMP TO MEET XI DURING VISIT TO CHINA NEXT MONTH (od.

11:20 PM GMT

CNN TODAY

HOUSE_OVERSIGHT_032642
"
IMAGES-004-HOUSE_OVERSIGHT_018109.txt,"2D

request for assistance. Some or all of these satellite actors might
choose to leave Iran to its fate, especially if initial U.S. strikes
seemed devastating to the point of decisive. But their involvement
would spread the conflict to the entire eastern Mediterranean and
perhaps beyond, complicating both U.S. military operations and
coalition diplomacy.

It seems fairly clear then that a conflict with Iran is unlikely to be an
isolated event in which the U.S. strikes, Iran retaliates, and it’s over—
with Iran either left with a viable nuclear program or not. War is far
more likely to be a series of actions played out over time at varying
levels of intensity and with a strong potential for escalation. Nor can
war with Iran be limited to military action; it will extend to the
diplomatic, economic and social domains. U.S. decision-makers
might prefer a limited war that would privilege U.S. military and
technical advantages, but Iran can force a broader conflict, where it
can employ its own political, economic and social means of waging
war, including terrorist attacks on U.S. soil and against U.S. interests
abroad. The challenge for the United States would be to conduct the
conflict so that the longer and broader the war, the more Iran would
lose. That objective should affect how the U.S. government would
fight in all four domains.

This means that even if the shooting starts at the military tactical or
operational levels, the United States or a U.S.-led coalition must plan
for all four levels of war and organize itself to ensure unity of
command and purpose across those levels. It will, for example, find
itself involved in a “secret war” of terrorist attacks and special
counterterror operations outside the main theater of conflict. It will
find itself in a “political war” involving Iranian and allied diplomatic
and information operations to weaken support from other states and
actors for the U.S. coalition and mobilize support for Iran. It will find
itself in an “economic war” featuring Iranian efforts to disrupt the oil

HOUSE_OVERSIGHT_018109
"
IMAGES-008-HOUSE_OVERSIGHT_025075.txt,"will bring in between 3,000 and 5,000
permanent jobs within the next five years --
hopefully, we were told, in the
informational technology sector (an
aspiration that might imply a certain
cooperation with the burgeoning tech
industry on the other side of the Green
Line). The engineer said that Rawabi had
already created 3,000 construction jobs for
West Bank Palestinians. The city is
Palestinian-designed and Palestinian-built -
- making the surfeit of Qatari flags at the
construction site somewhat puzzling at
first. And while the project does not
purchase materials from Jewish settlements
in the West Bank, the engineer was hardly
shy in explaining that Rawabi would add
an estimated $85 million to the Israeli
economy.

As we drove around the construction site,
the engineer's talk made few demands on
the imagination. The sheer scale of the
project is already obvious. Within the next
18 months, the first phase, which includes
six neighborhoods, a mosque, the
amphitheater, and two-thirds of the city's
commercial center, will be complete, and
3,000 people are scheduled will move into
Rawabi by the end of 2013. Apartment
blocks built of a local white stone --
""Rawabi stone,"" the engineer called it -- are
already rising out of a network of
concentric ring-roads centered on the top of
the hill. Most of these roads have already

HOUSE_OVERSIGHT_025075
"
IMAGES-007-HOUSE_OVERSIGHT_023327.txt,"the paramount requirement 16 months after 1 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, 150b 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 ) ,J provided as requested a
detailed step by step execution plan and reviewed all documents that 1 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 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. Ifthe 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 Iready 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. ifound 11 million dollars in dormant accounts. 4 million dollars in eileens

HOUSE_OVERSIGHT_023327
"
IMAGES-007-HOUSE_OVERSIGHT_024448.txt,"NON-GAAP FINANCIAL MEASURES

EBITDA, Adjusted EBITDA and Adjusted EBITDAR (including pro forma presentations thereof) and the
related ratios presented in this Memorandum are supplemental measures of our performance that are not
required by, or presented in accordance with, generally accepted accounting principles in the U.S.
(“GAAP”). EBITDA, Adjusted EBITDA and Adjusted EBITDAR are not measurements of our financial
performance under GAAP and should not be considered as alternatives to net income, operating income
or any other performance measures derived in accordance with GAAP, or as an alternative to cash flow
from operating activities as a measure of our liquidity.

EBITDA represents net income before net interest expense, income tax expense, depreciation (including
impairment charges) and amortization. Pro forma presentations of EBITDA have also added back
KinderCare Learning Centers, Inc.'s (“KinderCare”) discontinued operations, consistent with KLC’s
treatment of center closures and sales and KinderCare’s historical presentation of EBITDA. Adjusted
EBITDA represents EBITDA plus (i) expenses (minus gains) that we do not consider reflective of our
ongoing operations after the KinderCare acquisition, as further described in this Memeorandum and (ii)
management fees which are subordinated to our obligations on our 7%% senior subordinated notes (the
“Notes"") and which are added back in measuring our performance for purposes of our ability to incur debt
under our indenture. Our actual and projected Adjusted EBITDA, where applicable, also exclude non-
cash stock-based compensation expense, which is also excluded under our indenture; accruals under our
stock appreciation rights (“SAR”) plan; and accruals under our long term incentive plan, which are non-
cash at the time of award and vest and become payabie in three years subject to continued employment
(with certain exceptions). Our pro forma Adjusted EBITDA for 2005 excludes restructuring and integration
charges associated with the KinderCare acquisition and the cost of operating parallel organizations during
the integration process, which management does not consider reflective of ongoing operations. Adjusted
EBITDAR Is Adjusted EBITDA plus rent expense. We present EBITDA, Adjusted EBITDA and Adjusted
EBITDAR because we consider them to be important supplemental measures of our perfermance and
believe they are frequently used by securities analysts, investors and other interested parties in the
evaluation of issuers, many of which present EBITDA and/or Adjusted EBITDA and/or Adjusted EBITDAR
when reporting their results.

We are basing our executive incentive compensation payments in part on our performance measured
using Adjusted EBITDA including adjustments described herein. We also use financial measures similar
to Adjusted EBITDA, though subject to certain different adjustments, in the senior credit facility that we
entered into in connection with the KinderCare acquisition and the indenture governing the Notes to
measure our compliance with covenants such as interest coverage and debt incurrence. Measures
similar to Adjusted EBITDA are alsc widely used by us and others in our industry to evaluate and price
potential acquisition candidates. For example, we evaluated the KinderCare acquisition and our 2003
acquisition of ARAMARK Educational Resources to a significant degree based on their historical and
potential EBITDA, as adjusted for items we did not consider representative of post-acquisition operations.
We believe EBITDA and Adjusted EBITDA facilitate operating performance comparisons from period to
period and company to company by backing out potential differences caused by variations in capital
structures (affecting relative interest expense), tax positions (such as the impact on periods or companies
of changes in effective tax rates or net operating losses) and the age and beok depreciation of facilities
and equipment (affecting relative depreciation expense}. We believe Adjusted EBITDAR is a useful
measure of performance independent of occupancy costs.

We calculate Adjusted EBITDA by adjusting EBITDA to eliminate the impact of a number of items we do
not consider indicative of our ongoing operations and for the other reasons noted above. For the reasons
indicated herein, you are encouraged to evaluate each adjustment and whether you consider it
appropriate. In addition, in evaluating Adjusted EBITDA and Adjusted EBITDAR, you should be aware
that in the future we may incur expenses similar to the adjustments in the presentation of Adjusted
EBITDA and Adjusted EBITDAR. Our presentation of Adjusted EBITDA and Adjusted EBITDAR should
not be construed as an inference that our future results will be unaffected by unusual or non-recurring
items.

HOUSE_OVERSIGHT_024448
"
IMAGES-012-HOUSE_OVERSIGHT_032656.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

HOUSE_OVERSIGHT_032656
"
IMAGES-003-HOUSE_OVERSIGHT_014521.txt,"TAX ALERT 2016-5: THE 2016 ELECTION: TAX CHANGES EXPECTED

Valuation discounts. On August 2, 2016, the IRS released proposed regulations, which may limit valuation
discounts for transfers of interests in family-controlled entities.2 These regulations contain many ambiguities,
and the IRS requested comments and held a public hearing on December 1, 2016. The regulations are
controversial, many comments were sent and only a few clarifying changes were provided at the hearing. Asa
result of the election, we believe it is likely the IRS will not proceed with these regulations. For now, there has

been no official word from the IRS.

Planning. The proposal to repeal the federal estate tax appears straightforward, but will be complicated if it is
temporary. The possibility of reinstatement of the estate tax may be a reason for traditional estate planning
techniques, such as gifts and sales, to continue to be utilized. There is also significant uncertainty as to the related
federal gift tax and basis step-up proposals. This makes current planning difficult because you may be comparing
the consequences of taking action currently (such as making a gift), with the uncertain future consequences of
not taking such action. Nevertheless, there are some general guidelines to consider.

e It does not appear advisable to make a current gift that requires the payment of gift tax. Although
the gift tax may be less costly than the estate tax, that would not be true if the estate tax is repealed.

e There are many types of “free” gifts that do not require the payment of gift tax, such as annual
exclusion gifts, tuition and medical gifts, gifts utilizing the lifetime gift exemption, and zeroed-out
GRATs.

o If such gifts are being considered only to save estate tax, it does not appear necessary to make
these gifts, unless there is an applicable state estate tax*. However, if repeal is temporary
and the estate tax will be reinstated, then such gifts may continue to be advisable.

o If such gifts are being considered for other non-tax reasons (such as benefitting the recipient
or asset protection), such gifts may still be beneficial. Even if the gift tax were repealed, you
would still have made the gift for free.

o Ifa gift will be made currently, it may be advisable to include flexible provisions, such as a
trust which allows for discretionary distributions to the donor’s spouse. This could allow the
gift to be “undone” in the future by distributions to such spouse, if that becomes desirable.

As to future planning, it will obviously depend on what changes are enacted. If the estate tax is repealed, or if
other significant changes are made, all wills, trusts and estate planning documents should be reviewed to
determine if any revisions are desirable. Since most wills have dispositive provisions, such as credit shelter trusts
and QTIP trusts, based on the estate tax, it will require a re-thinking of estate planning and what dispositions and
trusts would be appropriate. Non-tax considerations, such as trust provisions, asset protection and fiduciary
selection, will play an enhanced role. If federal estate tax repeal is only temporary, it will presumably be necessary
to include alternate dispositive provisions, in case the tax is reinstated.

CONCLUSION

The results of the 2016 election are expected to lead to significant income and transfer tax changes, some through
the potential repeal of the Affordable Care Act and others through a push for comprehensive tax reform. In this
Tax Alert, we have highlighted some of the tax proposals, and the possible impact these changes may have on

3 We have a separate Tax Alert 2016-3, Proposed Regulations May Limit/Eliminate Valuation Discounts for Family Controlled
Entities.

4“ Certain states impose their own estate tax, independent of whether the federal estate tax is repealed.

HOUSE_OVERSIGHT_014521
"
IMAGES-008-HOUSE_OVERSIGHT_025061.txt,"February 12, 2013 -- Bulgaria's interior
minister announced on Feb. 5 the result of
his country's investigation into the July
2012 bombing of a bus filled with Israeli
tourists in the city of Burgas, which killed
five Israelis and the vehicle's Bulgarian
driver. Two of the individuals who carried
out the terrorist attack, he said, ""belonged
to the military formation of Hezbollah.""

It was not by chance that his statement
fingered only the military wing of
Hezbollah, not the group as a whole.
Within the European Union, the findings of
the Bulgarian investigation have kicked off
a firestorm over whether to add the
Lebanese militant organization -- in whole,
or perhaps just its military or terrorist
wings -- to the EU's list of banned terrorist
groups. But are there in fact distinct wings
within the self-styled ""Party of God""?

Hezbollah is many things. It is one of the
dominant political parties in Lebanon, as
well as a social and religious movement
catering first and foremost -- though not
exclusively -- to Lebanon's Shiite
community. Hezbollah is also Lebanon's
largest militia, the only one to keep its
weapons and rebrand its armed elements as
an ""Islamic resistance"" in response to the
terms of the 1989 Taif Accord, which
ended the Lebanese Civil War.

While the group's various elements are
intended to complement one another, the

HOUSE_OVERSIGHT_025061
"
IMAGES-007-HOUSE_OVERSIGHT_023333.txt,"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 1 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 . youhave made a hell ofa 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 Iam, 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.. Iam ofcourse 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 <9, Darren Indyke [ii

not for now. but maybe later ,
a Forwarded _message ----------

HOUSE_OVERSIGHT_023333
"
IMAGES-012-HOUSE_OVERSIGHT_033548.txt,"a

buzzfeednews.com / Anne Helen Petersen “I don't know anyone in
their twenties who has the savings for a down payment without family

help.” For most millennials I know, the American dream of...

225 miles and 100 parks: one woman's
epic hike around New York City

HOUSE_OVERSIGHT_033548
"
IMAGES-005-HOUSE_OVERSIGHT_018554.txt,"been-brewing/

KOK ok

The Alt Sex Anti-Abuse Dream Team

BDSMers face a lot of stigma around our sexuality, and this can be a major problem
when BDSMers are trying to deal with abusive situations. I've written a lot about
generally negative conceptions of BDSM -- they can briefly be summarized as:

* S&M is wicked,

* abnormal,

* a sign of mental or emotional instability,
* inherently abusive,

* or even antifeminist.

Given this climate, it's not surprising that two things almost always happen when BDSM
and abuse come up:

1) People of all genders who are abused are often unwilling to report. People of all
genders who are abused within BDSM relationships tend to be particularly
unwilling to report. Victim-blaming is already rampant in mainstream society -- just
imagine what happens to, for example, a woman who has admitted that she enjoys being
consensually slapped across the face, if she attempts to report being raped. And that's
assuming the abuse survivor is willing to report in the first place; ze may prefer not to
negotiate the minefield of anti-SM stereotypes ze will be up against, ze may be afraid of
being outed, etc.

2) Members of the BDSM community sometimes push back against real or perceived
anti-SM stigma by talking about how abuse is rare within the BDSM community. A
BDSM blog post and comments over at the awesome blog SM-Feminist claim that not
only is abuse within the community rare, but abusive BDSM relationships seem
more likely to happen outside the community. In fact, if you look then you can find
posts from submissive women who found that getting into the BDSM community, being
exposed to its ideals and concepts, helped them escape or understand their past abusive
relationships.

I tend to think that #2 is a really good point -- particularly the bit about how abusive

BDSM relationships are more likely to happen outside the community, due in part to lack
of resources and support for survivors. For this reason, I tend to stress the role of the
community in positive BDSM experiences, and I encourage newcomers to seek out their
local community. But lots of people don't have access to a local community at all,
especially if they're not in a big city. Plus, lots of people have trouble enjoying their local
community for whatever reason, perhaps because they have nothing in common with
local S&Mers aside from sexuality, or because they don't have time to integrate into a
whole new subculture.

There's also the unfortunate fact that point #2 sometimes reacts with point #1 in a toxic

HOUSE_OVERSIGHT_018554
"
IMAGES-002-HOUSE_OVERSIGHT_012519.txt,"o~

nsor & Associates

Reporting and Transeuptioa, ine.

Page 5 :

And | ES a frienc of yours at the

A. Yes.

Q. Okay. And tell me a little bit about the

introduction, how PR introduced you to Jeffrey.

Okay. So let's break that down a little

She toid you you could go over there to

Jeffrey Epstein's hovse and give a massage?

A. Right.

Q. When she said go give a massage did she
tell you what she meant by that?

A. Just are -- no. Just a massage. She didn't
really give me any details.

Q. Okay. Let me ask it to you another way.

A. Okay.

Ou Was there any suggestion that what you were
being offered the opportunity to do would be sexual in

any way?

HOUSE_OVERSIGHT_012519
"
IMAGES-003-HOUSE_OVERSIGHT_016336.txt,"something much more significant than speculating at the time: He was laying the
foundations for the digital revolution. As a graduate student at MIT, he worked for
Vannevar Bush on the Differential Analyzer. This was one of the last great analog
computers, a room full of gears and shafts. Shannon’s frustration with the difficulty of
solving problems this way led him in 1937 to write what might be the best master’s thesis
ever. In it, he showed how electrical circuits could be designed to evaluate arbitrary
logical expressions, introducing the basis for universal digital logic.

After MIT, Shannon studied communications at Bell Labs. Analog telephone
calls degraded with distance; the farther they traveled, the worse they sounded. Rather
than continue to improve them incrementally, Shannon showed in 1948 that by
communicating with symbols rather than continuous quantities, the behavior is very
different. Converting speech waveforms to the binary values of 1 and 0 is an example,
but many other sets of symbols can be (and are) used in digital communications. What
matters is not the particular symbols but rather the ability to detect and correct errors.
Shannon found that if the noise is above a threshold (which depends on the system
design), then there are certain to be errors. But if the noise is below a threshold, then a
linear increase in the physical resources representing the symbol results in an exponential
decrease in the likelihood of making an error in correctly receiving the symbol. This
relationship was the first of what we’d now call a threshold theorem.

Such scaling falls off so quickly that the probability of an error can be so small as
to effectively never happen. Each symbol sent multiplies rather than adds to the
certainty, so that the probability of a mistake can go from 0.1 to 0.01 to 0.001, and so
forth. This exponential decrease in communication errors made possible an exponential
increase in the capacity of communication networks. And that eventually solved the
problem of where the knowledge in an AI system came from.

For many years, the fastest way to speed up a computation was to do nothing—
just wait for computers to get faster. In the same way, there were years of AI projects
that aimed to accumulate everyday knowledge by laboriously entering pieces of
information. That didn’t scale; it could progress only as fast as the number of people
doing the entering. But when phone calls, newspaper stories, and mail messages all
moved onto the Internet, everyone doing any of those things became a data generator.
The result was an exponential rather than a linear rate of knowledge accumulation.

John von Neumann also has a cameo in Zhe Human Use of Human Beings, for
game theory. What Wiener missed here was von Neumann’s seminal role in digitizing
computation. Whereas analog communication degraded with distance, analog computing
(like the Differential Analyzer) degraded with time, accumulating errors as it progressed.
Von Neumann presented in 1952 a result corresponding to Shannon’s for computation
(they had met at the Institute for Advanced Study, in Princeton), showing that it was
possible to compute reliably with an unreliable computing device by using symbols rather
than continuous quantities. This was, again, a scaling argument, with a linear increase in
the physical resources representing the symbol resulting in an exponential reduction in
the error rate as long as the noise was below a threshold. That’s what makes it possible
to have a billion transistors in a computer chip, with the last one as useful as the first one.
This relationship led to an exponential increase in computing performance, which solved
a second problem in AI: how to process exponentially increasing amounts of data.

The third problem that scaling solved for AI was coming up with the rules for

116

HOUSE_OVERSIGHT_016336
"
TEXT-002-HOUSE_OVERSIGHT_033180.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
Darren Indyke 
11/2/2016 9:25:09 PM 
Jeffrey Epstein [jeevacation@gmail.com] 
Donald Trump Used Legally Dubious Method to Avoid Paying Taxes - The New York Times 
WebPage.pdf; Untitled attachment 408001.htm 
Importance: High 
Very, very funny. 
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. 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. 
****************************************************************************************** 
************* 
http://www.nytimes.com/2016/11/01/us/politics/donald-trump-tax.html 
HOUSE OVERSIGHT 033180 
"
TEXT-001-HOUSE_OVERSIGHT_030631.txt,"From: Kathy Ruemmler_______________________________ 
Sent: 8/27/2015 2:27:09 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Privileged - Redacted 
Sent from my iPhone 
On Aug 27, 2015, at 10:26 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
Privileged - Redacted 
On Thursday, August 27, 2015, Kathy Ruemmler > wrote: 
Great. 
Sent from my iPhone 
On Aug 27, 2015, at 6:00 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
ok, anytime you like, you can drive right to me and i will feed you.::) 
On Wed, Aug 26, 2015 at 10:38 PM, Kathy Ruemmler 
Will leave @ 9, so will be in ny @ 1 pm. 
Sent from my iPad 
On Aug 26, 2015, at 10:21 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
what time, I will come up 
Hwrote: 
On Wed, Aug 26, 2015 at 10:18 PM, Kathy Ruemmler____________________________wrote: 
Going up to NY Friday morning. Think I am going to drive. I will then stop to pee and get gas at a rest stop 
on the New Jersey turnpike, will observe all of the people there who are at least 100 pounds overweight, will 
have a mild panic attack as a result of the observation, and will then decide that I am not eating another bite 
of food for the rest of my life out of fear that I will end up like one of these people. 
Sent from my iPad 
On Aug 26, 2015, at 10:09 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
ill give you details when i see you, when are you in ny? 
On Wed, Aug 26, 2015 at 9:28 PM, Kathy Ruemmler ____________________________wrote: 
Trump is living proof of the adage that it is better to be lucky than smart. 
Sent from my iPad 
HOUSE OVERSIGHT 030631 
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 030632 
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 030633 
"
IMAGES-005-HOUSE_OVERSIGHT_019892.txt,"Donald Trump and his tiny band of campaign warriors were ready to lose with fire and
fury. They were not ready to win.

OOK Ok

In politics somebody has to lose, but invariably everybody thinks they can win. And you
probably can’t win unless you believe that you will win—except in the Trump campaign.

The leitmotif for Trump about his own campaign was how crappy it was and how
everybody involved in it was a loser. He was equally convinced that the Clinton people
were brilliant winners—“They’ve got the best and we’ve got the worst,” he frequently
said. Time spent with Trump on the campaign plane was often an epic dissing experience:
everybody around him was an idiot.

Corey Lewandowski, who served as Trump’s first more or less official campaign
manager, was often berated by the candidate. For months Trump called him “the worst,”
and in June 2016 he was finally fired. Ever after, Trump proclaimed his campaign doomed
without Lewandowski. “We’re all losers,” he would say. “All our guys are terrible, nobody
knows what they’re doing... . Wish Corey was back.” Trump quickly soured on his
second campaign manager, Paul Manafort, as well.

By August, trailing Clinton by 12 to 17 points and facing a daily firestorm of
eviscerating press, Trump couldn’t conjure even a far-fetched scenario for achieving an
electoral victory. At this dire moment, Trump in some essential sense sold his losing
campaign. The right-wing billionaire Bob Mercer, a Ted Cruz backer, had shifted his
support to Trump with a $5 million infusion. Believing the campaign was cratering,
Mercer and his daughter Rebekah took a helicopter from their Long Island estate out to a
scheduled fundraiser—with other potential donors bailing by the second—at New York
Jets owner and Johnson & Johnson heir Woody Johnson’s summer house in the Hamptons.

Trump had no real relationship with either father or daughter. He’d had only a few
conversations with Bob Mercer, who mostly talked in monosyllables; Rebekah Mercer’s
entire history with Trump consisted of a selfie taken with him at Trump Tower. But when
the Mercers presented their plan to take over the campaign and install their lieutenants,
Steve Bannon and Kellyanne Conway, Trump didn’t resist. He only expressed vast
incomprehension about why anyone would want to do that. “This thing,” he told the
Mercers, “is so fucked up.”

By every meaningful indicator, something greater than even a sense of doom shadowed
what Steve Bannon called “the broke-dick campaign’ —a sense of structural impossibility.

The candidate who billed himself as a billionaire—ten times over—trefused even to
invest his own money in it. Bannon told Jared Kushner—who, when Bannon signed on to
the campaign, had been off with his wife on a holiday in Croatia with Trump enemy David
Geffen—that, after the first debate in September, they would need an additional $50
million to cover them until election day.

HOUSE_OVERSIGHT_019892
"
IMAGES-002-HOUSE_OVERSIGHT_014168.txt,"aiid:
Aouabay 00 ole
Sslay wes} Sb abe
euungsy oho Bos dt8
(a) Q266 199-200 ; tal 5E ate
8720p 18-2020 (a qog) 6 abe
EMS YOpUO) oaree I Sood sey}
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9INIg ‘Us}SNy-a/eALOW] i OF8R BLP ELE

L995 8Z9 Z4zZ 100 lier Kowa
auyoiey 9 And ‘vosyay ppoy s9}s}oW

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af voce bhe- 2080 {ulseee tpe-2020
ZIAS Bopus | LEM UOpuo5

smay eyebsusenr) qze sald auMopsue? p

ayey ‘sajzuey,) Nid 9 90 posjaw

cle OLZe 986 Zbz 100
020 ayag #509
020 uouUeYs ‘SUuB;oW

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£ £62 216 100

SMS piss woo'anesndwesipugtees “Heus

peay yomiBay, peoodoy LESsd
suojsuey Wana ep} (y) 6222 082-2020

Hen ‘ezopusyy seg ‘AouRpSW

4£034y (y) Sect. gaz Zb2 £00

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Saat nie

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Easy *emxey

homrettyginis kee

42

GIUFFREO01614

HOUSE_OVERSIGHT_014168
"
TEXT-001-HOUSE_OVERSIGHT_026053.txt,"From: Boris Nikolic 
Sent: 12/26/2016 1:19:46 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: RE: 
Importance: High 
Have fun!! 
Hope to see you on the 4th. 
I leave for SF on the 5th 
Sent from my Windows Phone 
From: jeffrey E.  
Sent: 12/25/2016 8:15 PM 
To: Boris Nikolic  
Subject: Re: 
4th im in palm with all the trump boys. . fun 
On Sun, Dec 25, 2016 at 8:13 PM, Boris Nikolic < > wrote: 
When are you back in NYC? 
Sent from my Windows Phone 
From: jeffrey E.  
Sent: 12/25/2016 8:09 PM 
To: Boris Nikolic  
Subject: Re: 
sorry to haer 
On Sun, Dec 25, 2016 at 8:05 PM, Boris Nikolic <MIM wrote: 
I wish... 
Got super bed cold two days ago and barely left my bed. Feel like shit. 
Merry Christmas to you! 
Sent from my Windows Phone 
From: jeffrey E.  
Sent: 12/25/2016 7:14 PM 
To: Boris Nikolic  
Subject: 
hope you are having as much fun as me 
please note 
HOUSE OVERSIGHT 026053 
The information contained in this communication is 
confidential, 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 026054 
"
IMAGES-002-HOUSE_OVERSIGHT_013607.txt,"lf acceptance of this idea does not constitute a problem for the reader (and you do
not find it fun to follow along with a computer math program and/or a pencil), then
the following several paragraphs can be quickly scanned or skipped entirely.

The computations of H; and Hy begins with keeping track of how many 0 >
1 and 1 > 0 transitions are found going from left to right in the binary series. For
example, in the binary expression of 729, 1011011001, one starts counting with a
1— 0 transition followed by a 0 + 1 transition and then a 1 — 1 transition and so
on. A useful way to record the count is via entries into a 2 x 2 matrix for score
keeping in which the horizontal rows are labeled 0 on top and 1 below and the
vertical columns are labeled O on the left and 1 on the right. The number of each
kind of transitions (from the vertical label to the horizontal label) are counted and
summed in the appropriate box of the two box by two box matrix; for examples: for a
0 > O transition, a tally mark is entered in the upper left corner of the matrix; for a 0
—>1 transition, a tally mark is entered in the upper right corner; a 1— 0 tally goes in
the left lower corner and a 1-> 1 Is tallied in the right lower corner. The resulting

transition incidence counting matrix, M; for the 729 binary transformation series

1 3
looks like M; = 32 indicating one 0 — O, three 0 > 1, three 1 > 0, and two 1 > 1

transitions have been tallied. Although this series alone is too short for computing
reliable statistical measures, if we assume that the pattern of transitions observed in
this short series is stationary, that is its transition behavior will remain the same if
the binary series continued on to be infinite in length, the assumption being that the
dynamics of now will be the same as always, 729 will stay 729, then we can use two
forms of this transition matrix in the computation of the topological entropy reflecting
the growth rate of the possible, H;, and the metric entropy from the statistical
weights of allowed choices among them, the probable, Hy.

To obtain the entropy representing the growth rate over time of the new
possibles, the computation of H7, the topological entropy, involves first transforming
M; into an transition incidence matrix, Mz; a 0 or 1 matrix indicating whether each

box has been entered at all (or not). Since in the binary representation of 729, all

107

HOUSE_OVERSIGHT_013607
"
IMAGES-006-HOUSE_OVERSIGHT_022464.txt,"Flipboard 10 for Today [editorialstaff@flipboard.com]
6/19/2019 7:57:01 PM

jeevacation@gmail.com
The hired guns of Instagram

Flipboard

The hired guns of Instagram

HOUSE_OVERSIGHT_022464
"
IMAGES-011-HOUSE_OVERSIGHT_032388.txt,"From: Jonathan Farkas f

Sent: 12/7/2016 5:01:04 PM
To: jeffrey E. [jeevacation@gmail.com]

Importance: — High

Hi jeffrey hope all is well I think you are going to have a winderful life from now on in your opinion

how much is left in this market it’s been a trump triumph I gave him some money through woody best
jonathan

Sent from my iPhone

HOUSE_OVERSIGHT_032388
"
IMAGES-002-HOUSE_OVERSIGHT_013161.txt,"Chapter 13

Local, Global and Glocal Knowledge
Representation

Co-authored with Matthew Ikle, Joel Pitt and Rui Liu

13.1 Introduction

One of the most powerful metaphors we’ve found for understanding minds is to view them
as networks — i.e. collections of interrelated, interconnected elements. The view of mind as
network is implicit in the patternist philosophy, because every pattern can be viewed as a
pattern in something, or a pattern of arrangement of something — thus a pattern is always
viewable as a relation between two or more things. A collection of patterns is thus a pattern-
network. Knowledge of all kinds may be given network representations; and cognitive processes
may be represented as networks also; for instance via representing them as programs, which
may be represented as trees or graphs in various standard ways. The emergent patterns arising
in an intelligence as it develops may be viewed as a pattern network in themselves; and the
relations between an embodied mind and its physical and social environment may be viewed in
terms of ecological and social networks.

The chapters in this section are concerned with various aspects of networks, as related to
intelligence in general and AGI in particular. Most of this material is not specific to CogPrime,
and would be relevant to nearly any system aiming at human-level AGI. However, most of it
has been developed in the course of work on CogPrime, and has direct relevance to under-
standing the intended operation of various aspects of a completed CogPrime system. We begin
our excursion into networks, in this chapter, with an issue regarding networks and knowledge
representation. One of the biggest decisions to make in designing an AGI system is how the
system should represent knowledge. Naturally any advanced AGI system is going to synthesize
a lot of its own knowledge representations for handling particular sorts of knowledge — but
still, an AGI design typically makes at least some sort of commitment about the category of
knowledge representation mechanisms toward which the AGI system will be biased. The two
major supercategories of knowledge representation systems are local (also called explicit) and
global (also called implicit) systems, with a hybrid category we refer to as glocal that combines
both of these. In a local system, each piece of knowledge is stored using a small percentage of
AGI system elements; in a global system, each piece of knowledge is stored using a particular
pattern of arrangement, activation, etc. of a large percentage of AGI system elements; in a
glocal system, the two approaches are used together.

In the first section here we discuss the symbolic, semantic-network aspects of knowledge
representation in CogPrime

245

HOUSE_OVERSIGHT_013161
"
IMAGES-006-HOUSE_OVERSIGHT_022302.txt,"Federal Register/Vol. 76, No. 168/Tuesday, August 30, 2011/Rules and Regulations

54031

institutions should be excluded from
coverage if they are nonprofit and hold
themselves out to the public as being
religious.

The Board examines jurisdictional
issues on a case-by-case basis, and the
Board’s jurisdiction jurisprudence is
highly complex. The Board has asserted
jurisdiction over some religiously-
affiliated employers in the past, but has
declined to assert jurisdiction over other
religiously-affiliated employers. See,
e.g., Ecclesiastical Maintenance Service,
320 NLRB 70 (1995), and St. Edmund’s
High School, 337 NLRB 1260 (2002). In
Ukiah Valley Medical Center, the Board
found that neither the First Amendment
nor the Religious Restoration Act
precludes the Board from asserting
jurisdiction over a religiously-affiliated
employer. 332 NLRB 602 (2000). If an
employer is unsure whether the Board
has jurisdiction over its operations, it
may contact the Board’s regional office.

In its comment, the United Stated
Postal Service points out that it has
different statutory rules from those
covering other private sector employees.
Labor relations in the Postal Service are
governed by Chapter 12 of the Postal
Reorganization Act of 1970, 39 U.S.C.
1201 et seq. Section 1209(a) of the
Postal Reorganization Act generally
makes the NLRA applicable to all
employee-management relations “‘to the
extent not inconsistent with the
provisions of this title.” As raised by the
comment, there are indeed several areas
in which the Postal Reorganization Act
is inconsistent with the NLRA. The
principal differences are that an agency
shop is prohibited (id. section 1209(a))
and that postal employees may not
strike. Id. Section
410(b)(1)(incorporating 5 U.S.C. 7311).

In light of these differences, the Board
agrees that a postal worker-specific
notice is necessary. The Board,
however, does not wish to create a
notice without the benefit of specific
public comment on this issue.
Accordingly, the Board will exclude the
United States Postal Service from
coverage under the final rule; the Board
may, at a later date, request comments
on a postal worker-specific notice.

Subpart B—Enforcement and
Complaint Procedures

Subpart B of the rule contains
procedures for enforcement of the
employee notice-posting requirement. In
crafting Subpart B, the Board was
mindful of the need to identify an
effective remedy for noncompliance
with the notice-posting requirement.
The Board gave careful consideration to
several alternative approaches to
enforcing the rule’s notice-posting

requirements. Those alternatives, not all
of which are mutually exclusive, were
(1) Finding the failure to post the
required notices to be an unfair labor
practice; (2) tolling the statute of
limitations for filing unfair labor
practice charges against employers that
fail to post the notices; (3) considering
the willful failure to post the notices as
evidence of unlawful motive in unfair
labor practice cases; (4) voluntary
compliance. 75 FR 80413-80414.

As explained in the NPRM, the Board
considered but tentatively rejected
relying solely on voluntary compliance.
This option logically would appear to be
the least conducive to an effective
enforcement of the notice-posting
requirement, and the Board’s limited
experience with voluntary posting of
notices of employee rights seems to
confirm this. When an election petition
is filed, the Board’s Regional Office
sends the employer Form NLRB-5492,
Notice to Employees, together with a
leaflet containing significant “Rights of
Employees.’ See the Board’s
Casehandling Manual, Part Two—
Representation Proceedings, Section
11008.5, found on the Board’s Web site,
http://www.nirb.gov. The Regional
Office also asks employers to post the
notice of employee rights in the
workplace; however, the Board’s
experience is that the notices are seldom
posted. Id. at 80414. Moreover, because
the notice is voluntary and there is no
enforcement scheme, there is no remedy
to fix the problem when the notice is
not posted. The Board has found
nothing in the comments to the NPRM
that would give it reason to believe that
voluntary compliance would be any
more effective under the present notice
rule. Therefore, the Board has decided
not to rely on voluntary compliance.
Instead the final rule provides that
failing to post the notice may be found
to be an unfair labor practice and may
also, in appropriate circumstances, be
grounds for tolling the statute of
limitations. In addition, a knowing and
willful failure to post employee notices
may be found to be evidence of
unlawful motive in an unfair labor
practice case. (As the Board also
explained in the NPRM, it did not
consider imposing monetary fines for
noncompliance, because the Board lacks
the statutory authority to impose
“penalties or fines.’’ See, e.g., Republic
Steel Corp. v. NLRB, 311 U.S. 7, 10-12
(1940).) These provisions have two
purposes: to ensure that any violations
of the notice-posting requirement that
occur may be remedied where
necessary, and to describe how
violations of the notice-posting

requirement may affect other Board
proceedings.137

The Board received several hundred
comments regarding the proposed
means of enforcing the notice posting
requirement. Those that favor
implementing the rule also favor the
proposed enforcement mechanisms.138
Those opposing the rule generally
oppose all three enforcement
mechanisms.

A. Noncompliance as an Unfair Labor
Practice

The rule requires employers to inform
employees of their NLRA rights because
the Board believes that employees must
know their rights in order to exercise
them effectively. Accordingly, the Board
may find that an employer that fails or
refuses to post the required notice of
employee rights violates Section 8(a)(1)
of the NLRA, 29 U.S.C. 158(a)(1) by
“Gnterfer[ing] with, restrain[ing], or
coercling] employees in the exercise of
the rights guaranteed in section 7 (29
U.S.C. 157).”

As it explained in the NPRM, the
Board expects that most employers that
fail to post the required notice will do
so simply because they are unaware of
the rule, and that when it is called to
their attention, they will comply
without the need for formal
administrative action or litigation.
When that is not the case, the Board’s
customary procedures for investigating
and adjudicating alleged unfair labor
practices may be invoked. See NLRA
Sections 10 and 11, 29 U.S.C. 160, 161;
29 CFR part 102, subpart B.1°° When the
Board finds a violation, it will
customarily order the employer to cease
and desist and to post the notice of

137 The tolling and animus provisions are not
remedies in the usual sense of the term; however,
these provisions inform the public of the impact
that violations of the notice posting obligation may
have in other NLRB proceedings. As described
below, these impacts are not a “punishment” for
noncompliance. To the contrary, the tolling
provision is intended to ensure that noncompliance
with the notice posting requirement does not
prejudice innocent employees. And the animus
provision is intended to inform the public that
knowing and willful violations of the rule may
support an inference of animus toward NLRA
rights.

138 See, e.g., Harkin and Miller, National
Employment Law Project, Public Justice Center, Inc.

139 The Board’s General Counsel has
unreviewable discretion as to whether to issue a
complaint in an unfair labor practice proceeding.
See, e.g., Vaca v. Sipes, 386 U.S. 171, 182 (1967).
The General Counsel has exercised that discretion
to refuse to proceed with meritorious charges when
it would not serve the purposes of the Act. See
General Counsel memoranda 02-08 and 95-15. This
discretion includes dismissing any charge filed
against an employer that is not covered by the
Board’s jurisdictional requirements.

HOUSE_OVERSIGHT_022302
"
IMAGES-010-HOUSE_OVERSIGHT_028941.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_028941
"
IMAGES-010-HOUSE_OVERSIGHT_029487.txt,"Business Expansion Portfolio and Prospectus
Twin City Care of The Virgin Islands
12

Competition

Presently, there is no competition for Twin City. All non-emergency ambulance and non-medial
stretchers are regulated through the Virgin Islands Department of Health and Wheel Coach
Services that are currently the only provider of the non-medical stretcher. Since 2003 to this date
Wheel Coach is unable to provide non-emergency ambulance service on the island of St. Croix. It
is very feasible to conduct successful non-emergency ambulance operations with the local
hospitals (JFLH), fee for service (Medicare, Medicaid, Private Insurance, self-pay).

Positioning

It is the goal of Twin City Care, Inc. to operate a Mobile Integrated Health Service which consist
of; non-emergency and emergency ambulance, specialized transport, community health and
mobile phlebotomy service within the USVI. Contracts for fees for service, and subscription
service, shall be sought with the major Hospitals, Skilled Nursing Facilities, Casino’s, Tourist
Bureau and the Community at large. It is our contention to provide excellent customer service.
Considering the numerous complaints of the lack of current service we feel that by instituting a
policy that provides performance parameters that meets the customers’ needs we will be highly
successful in our goal. It is our intention to provide a two-hour window and true scheduled pick
up times. According to customer surveys, they desire performance and reliability. Ambulance rates
are payable by Medicare at $221.00 base rate and $7.31 per mile, the average ambulance call per
day at Twin City is four. We expect to double that within the first month. We will also work with
the local physicians to transport all qualifiable patients by ambulance, such as those who are on
oxygen or those who need non-emergency and urgent transportation to the hospital. We shall also
offer to the people of St. Croix a subscription service for ground ambulance, where if they need an
ambulance they receive no bill.

Expansion Launch Strategies

It is our intent to expand Twin City Mobile Integrated Health with two ambulances operating per
day, Mon-Fri and one on the weekends, by salaried personnel on St. Croix and St. Thomas. Once
these units are at 85% capacitance, a third unit will be added. Along with the third unit, a marketing
strategy should be launched in the St. Johns area. Under this expansion project employees and
starting salary ranges would consist of the following:

4 fulltime Receptionist / Secretary / Dispatcher, $25k/year each

1 Salaried Chief Executive Officer / Paramedic, $100k/year

1 Salaried Medical Director, $125k/year

1 Salaried Human Resource Director, $75k/year

1 Salaried Chief Operations Officer (Paramedic) $85k/year

1 Salaried Supervisor / Customer Care Advocate (Paramedic or Advance EMT) $75k/year
12 Fulltime Emergency Medical Technician (EMT) $45k/year each = $450k/year

9 Part time Advance Emergency Medical Technician $55k/year each = $495k/year

HOUSE_OVERSIGHT_029487
"
IMAGES-001-HOUSE_OVERSIGHT_010808.txt,"wow oma Ho Pw nd

NNN NNN BB Be OH Be Be Be oe Be oH
“RW NF OO OIA OR WN FO

oils and towels?

“Answer: Yes, ma'am.

""Question: And did you ever have occasion
to go upstairs and clean up after the massages?

""Answer: Yeah, uh-huh.

“Question: Did you ever find any
vibrators in that area?

“Answer: Yes. I told him yes.

""Question: Would you describe for me what
kinds of vibrators you found?

""Answer: I'm not too familiar with the
names, but they were like big dildos, what they
call the big rubber things like that
(indicating). And I used to go and put my
gloves on and pick them up, put them in the
sink, rinse it off and put it in Ms. Maxwell --
Ms, Maxwell had in her closet, she had like a
laundry basket. And you put laundry in. She
have full of those toys.”

Is that testimony that exonerates you,

Mr. Dershowitz? Is that what you were referring to?

MR. SCOTT: Let me -- objection to the
form, improper cross examination by taking
excerpts out of depositions of witnesses.

wo ont HU FP WD

NNNNN FPP BP BP ee PB BB
BWNF OM MO YH UM PWN O

279

is a third-year student at Harvard, were all there
with me. That was the only time that I stayed over
more than one night. And I never stayed even onc
night during the relevant timeframe.

But most importantly, he gives no
timeframe. And clearly his reference to the sex
toys is a reference to the part of the house that I
was never permitted in and never entered.

Q. What is the question that you think you
were answering?
A. Whether --

MR. SCOTT: He was explaining to you
exactly why he felt that that was
inappropriate, which is exactly what you asked
him.

MR. SCAROLA: No, it is not.
MR. SCOTT: Well, it is my recollection,
so I don't know --
MR. SCAROLA: Well, then --
MR. SCOTT: 1| think he was defending --
MR. SCAROLA: Let me try the same question
over again.
MR. SCOTT: I think he was defending
his -- his position.
THE WITNESS: Right.

278

BY MR. SCAROLA:

Q. Is it your contention that that testimony,
under oath, of your friend, Mr. Epstein's staff
person, exonerates yon?

A. First, a little background. Mr. Alessi
was fired for theft of material from Mr. Epstein, so
Mr. Alessi was not on a friendly basis with Jeffrey
Epstein.

Second, the description of the dildos and
sex toys clearly refers to the area of the house
that | was never in, the area of Ms. Maxwell's room,
rather than the area of the room that I stayed in.

Third, he gives no timeframe for the
visits.

And, fourth, he certainly didn't in any
way confirm that | was there while Virginia Roberts
was there. His answer was simply that | was there
from time to time. He's wrong about that. During
the relevant timeframe, I was never in the house.

And even taking outside the relevant
timeframe, the only time I was in the house for more
than one day was when my family, my wife, my son, my
daughter-in-law, my then probably seven or
eight-year-old granddaughter, who just graduated
Harvard, and my probably four-year-old grandson, who

BY MR. SCAROLA:

Q. The question was: Is that part of the
time that you claim exonerates you?

A. Well, I think if you read the whole
testimony, it clearly exonerates me and | think that
part of the testimony in no way inculpates me and no
reasonable person reading that could use that as a
basis for making allegations that I had sexual
encounters or misconduct with Virginia Roberts.

So, when -- if that's the best testimony
that your unprofessional clients relied on, then
clearly that exonerates me.

Again, the absence of evidence is evidence
of absence. And the very idea that this is seen as
some basis for concluding that I had sexual
encounters with -- with Virginia Roberts, why wasn't
he asked did he ever see me have a massage by
Virginia Roberts? Did he ever see me have a sexual
encounter with Virginia Roberts? Did he ever go to
the room I was staying in and find any sex toys?

The answers to all those questions, if
truthful, would be no.

Q. What was Mr. Alessi's motive against you?
You've told us he was fired by Jeffrey Epstein, so
he may have had some motive against Mr, Epstein.

26 (Pages 277 to 280)

www.phippsreporting.com
(888) 811-3408

HOUSE_OVERSIGHT_010808
"
IMAGES-010-HOUSE_OVERSIGHT_028799.txt,"In it, Doug pulls back the curtain on his shocking forecast for America in
2016. And how he believes you could set yourself up to profit from it in a big

way... with just one decisive move.

Go here to reserve your spot.

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HOUSE_OVERSIGHT_028799
"
IMAGES-003-HOUSE_OVERSIGHT_016450.txt,"Bruce E. Reinhart, Member, McDonald Hopkins LLC. (PRNewsFoto/McDonald Hopkins LLC)
PR NEWSWIRE

HOUSE_OVERSIGHT_016450
"
IMAGES-006-HOUSE_OVERSIGHT_020515.txt,"56

41 Link, Perry. “China: The Anaconda in the Chandelier.” New York Review of Books. April 11, 2002.
http://www.nybooks.com/articles/2002/04/11/china-the-anaconda-in-the-chandelier.

42 See Tiffert, Glenn. “Peering Down the Memory Hole: History, Censorship and the Digital Turn.”
August 21, 2017. https://www.washingtonpost.com/r/2010-2019/WashingtonPost/2017/08/23/Editorial
-Opinion/Graphics/Tiffert-Peering_down_the_memory_hole_2017.pdf.

43 “Chinese companies are buying up cash-strapped US colleges.” Bloomberg. March 21, 2018. https://
www.bloomberg.com/news/articles/2018-03-20/cash-strapped-u-s-colleges-become-targets-for-chinese
-companies.

44 Fischer, Karin. “Many Foreign Students Find Themselves Friendless in the US” Chronicle of Higher
Education. June 14, 2012. https://www.chronicle.com/article/Many-Foreign-Students-Find/132275;
“Do Years Studying in America Change Chinese Hearts and Minds?” Foreign Policy, December 7, 2015.
https://foreignpolicy.com/2015/12/07/do-years-studying-in-america-change-chinese-hearts-and-minds
-china-u-foreign-policy-student-survey.

Universities

HOUSE_OVERSIGHT_020515
"
IMAGES-003-HOUSE_OVERSIGHT_015159.txt,"side streets, and | thought they were talking about the Olympics in China,
but then | realized that they were actually talking about the protesters at
our conventions.

TRACK: It’ s not the same. China is a Commie dictatorship--and
here there were seventy-seven applications to speak--but not one single
protester was given permission, and all those who applied were arrested
before the games began. Way to go.

WILLOW: | heard that in St. Paul, even a m/me got a permit to speak.
And the people who did speak couldn’ t be heard. | mean, what about the
First Amendment? We learned about that in school.

TRACK: Yeah, well, it doesn’ t apply to those anarchists on the
opening day, with black cloth covering their faces, a few hundred of them,
running around the streets, setting fires, throwing rocks, breaking
windows, blocking traffic. It was the duty of the riot squad and the
National Guard to stop those actions. Tear gas, pepper spray, rubber
bullets, concussion grenades, whatever it took.

WILLOW: But what about the peacefu/ demonstrators?

TRACK: There were ten thousand demonstrators who were peaceful,
and they were allowed to march against the war. All they had to do was

follow the rules. When their permit expired at 5 p.m., they still tried to

HOUSE_OVERSIGHT_015159
"
IMAGES-009-HOUSE_OVERSIGHT_026647.txt,"HOUSE_OVERSIGHT_026647
"
IMAGES-007-HOUSE_OVERSIGHT_022993.txt,"Flight logs from Epstein’s private jet show Clinton was a frequent flyer, taking
Secret Service agents along with him on trips with Epstein around the globe.
Clinton has publicly ignored Giuffre’s allegations but an independent
investigation launched by Dershowitz raised questions about their veracity.

One of Epstein’s longtime servants testified that Prince Andrew was a regular
guest at Epstein’s house and received massages during the visits. But house
manager Juan Alessi acknowledged in a sworn deposition that older women
and men offered Swedish massages to Epstein’s guest. It is unclear who gave
the British prince the massages or what was included. The prince has
vehemently denied Giuffre’s allegations.

Alessi also testified that Trump visited Epstein’s home when both were in Palm
Beach. “He would come, have dinner. He never sat at the table,” said Alessi,
who described himself as Epstein’s majordomo. “He eat with me in the
kitchen.”

But, Alessi said, unlike other visitors, Trump didn’t avail himself of massages.
“No,” he said. “Because he’s got his own spa.”

While Giuffre’s defamation lawsuit appears headed for what will likely be a
confidential settlement, Scarola said his case against Epstein is going to trial
even though Trump won't be called as a witness.

“We can prove our case without Donald Trump’s testimony,” he said of
malicious prosecution lawsuit he filed against Epstein for suing Edwards, the
attorney who has represented Giuffre and several of Epstein’s other victims.

Edwards has also been leading a separate charge to prove Acosta’s office
violated the federal Crime Victims’ Rights Act when it signed off on the non-
prosecution agreement without notifying the women. That suit, which has
stalled in federal court after many of the documents were sealed, could
eventually reveal why Epstein got what many call a “sweetheart deal,” Scarola
said.

Edwards also represented 65 members of Trump National Golf Club Jupiter,
who won $5.8 million in February when a federal judge ruled that Trump
improperly kept their deposits when he took over the club on Donald Ross
Road in Jupiter in 2012. Trump is appealing the decision.

HOUSE_OVERSIGHT_022993
"
IMAGES-008-HOUSE_OVERSIGHT_025707.txt,"Source Entry: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2018-08-23\i

Ps on 2018-08-17 at 11.53.05.ichat

Service: iMessag

Start Time: 08/17/18 08:53:05 AM (556213985)
End Time: 08/23/18 03:07:01 PM (556754821)
Last Message ID: 19138

Chat Room:
Participants: jee, [iy
Presentity IDs: e:jeeitunes@gmail.com,

Messages -

Sender: e:jeeitunes@gmail.com

Time: 08/17/18 08:53:05 AM (556213985)
Flags: 1085445

Is Read: No

Is Invitation: No

r,

GUID: 87838E9F-C372-4612-80EE-B8A4327BA691

Message: How did it go?

Time: 08/17/18 09:07:05 AM (556214825)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 33591123-5B17-4DBD-863B-961513F2776A

Message: 2 pm now

Sender: e:jeeitunes@gmail.com

Time: 08/17/18 03:03:12 PM (556236192)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: C567F5BA-A18C-411C-943B-DA3277FE2C63

Message: I took off early so I could land in time to watch. - all good?

sender:

Time: 08/17/18 03:05:43 PM (556236343)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: B755787C-1E9A-4650-93C5-F8758A804BF2

Message: On now

HOUSE_OVERSIGHT_025707
"
IMAGES-004-HOUSE_OVERSIGHT_017548.txt,"Norman Lear has enjoyed a long career in television and film,

and as a political and social activist and philanthropist.

Mr. Lear began his television writing career in 1950
when he and his partner, Ed Simmons, were signed to write
for the The Ford Star Revue, starring Jack Haley. After only
four shows, they were hired away by Jerry Lewis to write for
the Martin and Lewis Colgate Comedy Hour, which they
continued to write until 1953. Mr. Lear then began writing on
his own for comedy shows including The Martha Raye Show,
The George Gobel Show, and The Tennessee Ernie Ford Show.

In 1958, Mr. Lear teamed with director Bud Yorkin
to form Tandem Productions. Together they produced several
feature films, with Mr. Lear taking on roles as executive
producer, writer, and director. He was nominated in 1967
for an Academy Award for his script for Divorce American
Style. In 1970, CBS signed with Tandem to produce All in
the Family, which first aired on January 12, 1971 and ran for
nine seasons. It earned four Emmy Awards for Best Comedy

NORMAN LEAR

series as well as the Peabody Award in 1977. All in the Family
was followed by a succession of other television hit shows
including Maude, Sanford and Son, The Jeffersons, One Day
at a Time, Good Times, and Mary Hartman, Mary Hartman.

Concerned about the growing influence of radical
religious evangelists, Mr. Lear decided to leave television
in 1980 and formed People For the American Way, a non-
profit organization designed to speak out for Bill of Rights
guarantees and to monitor violations of constitutional
freedoms. People For remains an influential and effective
voice for freedom. In 1982, he produced a two-hour
television special I Love Liberty, with a cast of stars and
an audience filling the Los Angeles Sports Arena.

Mr. Lear’s business career continued in 1984 when
he and his business partners created T.A.T. Communications,
later known as Embassy Communications, which was sold
in 1985. Mr. Lear then created and is currently chairman of
Act III Communications, a multimedia holding company
with interests in the recording, motion picture, broadcasting,
publishing, and licensing industries, including Concord
Music Group and Village Roadshow Pictures Group.

In addition to People for the American Way, Mr.
Lear has founded other nonprofit organizations, including
the Norman Lear Center at the USC Annenberg School
for Communication (2000-present), a multidisciplinary
research and public policy center dedicated to exploring
the convergence of entertainment, commerce and society;
the Business Enterprise Trust (1989-2000) to spotlight
exemplary social innovations in American business; and
with his wife, Lyn, co-founded the Environmental Media
Association (1989-present), to mobilize the entertainment
industry to become more environmentally responsible.

In 1999, President Clinton bestowed the National
Medal of Arts on Mr. Lear, noting that “Norman Lear has
held up a mirror to American society and changed the way
we look at it.” He has the distinction of being among the
first seven television pioneers inducted into the Television
Academy Hall of Fame (1984). In addition to his awards for
Allin the Family, he has been honored by the International
Platform Association (1977), the Writers Guild of America
(1977) and many other professional and civic organizations.

In 2001, Lyn and Norman Lear created the
Declaration of Independence Road Trip, a four-year
educational initiative and national multimedia tour of one of
the surviving original copies of the Declaration, which they
purchased to share with the American people. As part of the
project, Mr. Lear launched Declare Yourself, a nonpartisan
youth voter initiative that registered well over four million
new young voters in the 2004, 2006, and 2008 elections.

At the Presidential Inauguration in 2009, Declare
Yourself premiered BornAgainAmerican.org, featuring
an inspiring music video that has been viewed by millions
across the country. It is part of an on-going drive to promote
active and thoughtful citizenship, as embodied in the
Declaration of Independence, which continues to tour.

Mr. Lear is married to Lyn Davis Lear and
resides in Los Angeles, California. He has six children:
Ellen, Kate, Maggie, Benjamin, Brianna, Madeline and
four grandchildren: Daniel, Noah, Griffin, Zoe.

HOUSE_OVERSIGHT_017548
"
IMAGES-011-HOUSE_OVERSIGHT_031859.txt,"26

fourth century B.C., when Greece overran the Persian Empire and
Israel, and again in the first century B.C., when the Romans
conquered the region.

The second manifestation saw Israel as a small actor within the
framework of larger imperial powers, a situation that lasted until the
destruction of the Jewish vassal state by the Romans.

Israel's third manifestation began in 1948, following (as in the other
cases) an ingathering of t least some of the Jews who had been
dispersed after conquests. Israel's founding takes place in the context
of the decline and fall of the British Empire and must, at least in part,
be understood as part of British imperial history.

During its first 50 years, Israel plays a pivotal role in the
confrontation of the United States and the Soviet Union and, in some
senses, is hostage to the dynamics of these two countries. In other
words, like the first two manifestations of Israel, the third finds Israel
continually struggling among independence, internal tension and
imperial ambition.

Israeli Geography and Borderlands

At its height, under King David, Israel extended from the Sinai to the
Euphrates, encompassing Damascus. It occupied some, but relatively
little, of the coastal region, an area beginning at what today is Haifa
and running south to Jaffa, just north of today's Tel Aviv. The coastal
area to the north was held by Phoenicia, the area to the south by
Philistines. It 1s essential to understand that Israel's size and shape
shifted over time. For example, Judah under the Hasmoneans did not
include the Negev but did include the Golan. The general locale of
Israel is fixed. Its precise borders have never been.

Thus, it is perhaps better to begin with what never was part of Israel.
Israel never included the Sinai Peninsula. Along the coast, it never
stretched much farther north than the Litani River in today's Lebanon.
Apart from David's extreme extension (and fairly tenuous control) to

HOUSE_OVERSIGHT_031859
"
IMAGES-007-HOUSE_OVERSIGHT_023455.txt,"Sebs

SI aztec eA RTC RS

>>

>> PRESS EMBARGO UNTIL PUBLICATION (12am EST, Sunday, January 15th). DO NOT CITE OR
CIRCULATE

>>

SSE reenter erin inn dni

>>

>> ""We'd certainly be better off if everyone sampled the fabulous EDGE symposium, which, like the best in
science, is modest and daring all at once.""

=

>> — David Brooks, THE NEW YORK TIMES

SE ee I

DD me rn rn nn ne ne nnn na nnn re nn nnn nn ne nnn nn ne nn nn ne ne nn re enn nn nen ne enn ne ne eee

>>

>> Scientists’ greatest pleasure comes from theories that derive the solution to some deep puzzle from a small
set of simple principles in a surprising way. These explanations are called ""beautiful"" or ""elegant"". Historical
examples are Kepler's explanation of complex planetary motions as simple ellipses, Bohr's explanation of the
periodic table of the elements in terms of electron shells, and Watson and Crick's double helix. Einstein
famously said that he did not need experimental confirmation of his general theory of relativity because it ""was
so beautiful it had to be true.""

>>

>> The EDGE Question 2012

Sis

>> WHAT IS YOUR FAVORITE DEEP, ELEGANT, OR BEAUTIFUL EXPLANATION?

Sis

>> Since this question is about explanation, answers may embrace scientific thinking in the broadest sense: as
the most reliable way of gaining knowledge about anything, including other fields of inquiry such as
philosophy, mathematics, economics, history, political theory, literary theory, or the human spirit. The only
requirement is that some simple and non-obvious idea explain some diverse and complicated set of phenomena.
‘obs

>> [Thanks to Steven Pinker for suggesting this year's EDGE Question and to Stewart Brand, Kevin Kelly, and
George Dyson for their ongoing advice and support. |

Sebs

DD me cn ne ne ne ne nnn nn ne nn ne en nn nn ee nn nn nn ne nn nn ne ne nn re enn nn enn ee nnn nn ne ee

DD me cn ne ne ne ne nnn nn ne nn ne en nn nn ee nn nn nn ne nn nn ne ne nn re enn nn enn ee nnn nn ne ee

=>
>> ""Open-minded, free ranging, intellectually playful ... an unadorned pleasure in curiosity, a collective

expression of wonder at the living and inanimate world ... an ongoing and thrilling colloquium.""
>>

>> —lan McEwan in THE TELEGRAPH

>>

SE ee I

=

>> SUBMITTING ESSAYS: Email as text or attached Word file to me (brockman@edge.org).
=

>> DUE DATE: 5pm, Thursday, January 12th

>>

>> PUBLICATION DATE: 12am EST, Sunday, January 15th

>>

>> URL: Essays will be posted at this draft URL (not visible to search engines). Please keep confidential.
>>

>> PRESS EMBARGO: Until publication. Do not cite or circulate.

HOUSE_OVERSIGHT_023455
"
IMAGES-004-HOUSE_OVERSIGHT_016656.txt,"LOW PRESSURE RO PROCESS FLOW DIAGRAM

Source Pre-Treatment Witstanlelestatsss Post-Treatment Distribution

Storage &
Cartridge Degassi- Transfer High
Filters Membranes fication Clearwell Service

Chlorine

; Caustic Soda

Cleaning | Fluoride
: : Corrosion Inhibitor

Sulfuric Acid
Scale Inhibitor

HOUSE_OVERSIGHT_016656
"
IMAGES-011-HOUSE_OVERSIGHT_031681.txt,"From: J [jeevacation@gmail.com]
Sent: 2/1/2019 7:20:44 PM

To: Michael Wolf (is

""That Russian oligarch who spent that money on that property and never moved into it and ultimately tore it
down, he’s also a large shareholder in a bank called the Bank of Cyprus, which has been implicated in Russian
money laundering. The chairman of the Bank of Cyprus is the former CEO of Deutsche Bank, to which Donald
Trump owed all that money at the time he conveniently got this very large influx of cash from a Russian guy.
The vice chairman of that bank until recently was our new secretary of commerce, long time Trump friend,

Wilbur Ross.

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_031681
"
IMAGES-009-HOUSE_OVERSIGHT_027559.txt,"Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 0142CDE1-EA3B-4503-AC9F-3531FFFC2FA5

Message: He has a long association with u???

Sender: e:jeeitunes@gmail.com

Time: 12/06/18 03:51:38 PM (565833098)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 6CECCE60-6FF6-4F30-A365-351A8F1EBO1C

Message: Woody 83

Sender: e:jeeitunes@gmail.com

Time: 12/06/18 03:52:52 PM (565833172)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 5F9C5127-6D9A-4407-9276-B1B9750D18AF

Message: You can interview. Gloria minsky. . Marvins widow. . great. Marvin and I 20
years. He died last year.
Sender: e:jeeitunes@gmail.com

Time: 12/06/18 03:53:06 PM (565833186)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 113BE4C1-091B-48BA-8EF9-2D54E1910023

Message: Father of artificial intelligence

Time: 12/06/18 03:53:13 PM (565833193)

Flags: 1060865
Is Read: Yes
Is Invitation: No

GUID: 6BD2C13E-C487-4A7D-B93F-6E4A5C5A5953

Message: Yes yes yes

Sender: Ei
Time: 12/06/18 03:53:20 PM (565833200)
Flags: 1060865

Is Read: Yes

HOUSE_OVERSIGHT_027559
"
IMAGES-009-HOUSE_OVERSIGHT_026874.txt,"CNN

RLK: The trade deficit has a lot of
things in there that are not
accurate. You look at the iPhone,
China will get 6, 10 percent of
that, the rest are components that
go into China. Services are 40
billion dollars — what Chinese
tourists and students pay in the
US — not counted in the trade
deficit, which is a very
complicated number. It also
benefits the US because we have a
lot of good products at cheaper
prices.

RLK: But there are five real
reasons that are problematic to
the US with respect to China:
closed markets; intellectual
property protection; industrial
espionage, which includes cyber
theft; forced technology transfer
in JVs; and government support
for future industries. Those are
five real issues that the smart
people in America are focusing on.
And legitimately so.

November 2017
Beijing
3:40 AM =

DEVELOPING STORY

JACK MA: TRADE WAR COULD LAST 20 YEARS fe"")

Robert Lawrence Kuhn | Author, ""How China's Leaders Think"" ‘9:40 pm cer
i @questCNN

ae

November 2017
Beijing

DEVELOPING STORY

JACK MA: TRADE WAR COULD LAST 20 YEARS ON

Robert Lawrence Kuhn | Author, ""How China's Leaders Think""

QUEST MEANS
BUSINESS

- —

HOUSE_OVERSIGHT_026874

"
IMAGES-008-HOUSE_OVERSIGHT_025934.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_025934
"
IMAGES-007-HOUSE_OVERSIGHT_022978.txt,"HOUSE_OVERSIGHT_022978
"
IMAGES-011-HOUSE_OVERSIGHT_030574.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]
Sent: 2/26/2014 5:08:53 PM

To: Melanie Spinella as

Camp Hits Carried Interest in Tax Plan With Wall Street in Focus
Posted February 25, 2014, 10:29 P.M. ET

The top Republican tax writer in Congress will lean on the financial industry with his planned revamp of the U.S. code,
changing the treatment of carried interest and imposing a levy on the assets of banks and insurers.

House Ways and Means Committee Chairman Dave Camp (R-Mich.) is to unveil the proposed tax code changes Feb.
26 that also include revisions that affect how investment fund managers’ compensation is taxed. He offered a preview
tonight using rhetoric that in part echoes President Barack Obama's own calls to change tax laws.

Do ee ee oe ee ee ee ee i i ee ie

The information contained in this communication is
confidential, 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_030574
"
IMAGES-004-HOUSE_OVERSIGHT_016865.txt,"I was introduced to Max Tegmark some years ago by his MIT colleague Alan Guth, the
father of the inflationary universe. A distinguished theoretical physicist and cosmologist
himself, Max’s principal concern nowadays is the looming existential risk posed by the
creation of an AGI (artificial general intelligence—that is, one that matches human
intelligence). Four years ago, Max co-founded, with Jaan Tallinn and others, the Future
of Life Institute (FL), which bills itself as “an outreach organization working to ensure
that tomorrow ’s most powerful technologies are beneficial for humanity.” While ona
book tour in London, he was in the midst of planning for FLI, and he admits being driven
to tears in a tube station after a trip to the London Science Museum, with its exhibitions
spanning the gamut of humanity’s technological achievements. Was all that impressive
progress in vain?

FLI’s scientific advisory board includes Elon Musk, Frank Wilczek, George
Church, Stuart Russell, and the Oxford philosopher Nick Bostrom, who dreamed up an
oft-quoted Gedankenexperiment that results in a world full of paper clips and nothing
else, produced by an (apparently) well-meaning AGI who was just following orders. The
Institute sponsors conferences (Puerto Rico 2015, Asilomar 2017) on AI safety issues and
in 2018 instituted a grants competition focusing on research in aid of maximizing the
societal benefits of AGI.

While Max is sometimes listed—by the non-cognoscenti—on the side of the
scaremongers, he believes, like Frank Wilczek, ina future that will immensely benefit
jrom AGI if in the attempt to create it, we can keep the human species from being
sidelined.

62

HOUSE_OVERSIGHT_016865
"
IMAGES-006-HOUSE_OVERSIGHT_021838.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 —

15

of engaging in criminal misconduct, the attorney needs
to do a thorough investigation; is that right?

A. Yeah, under the circumstances, sure. I
should say in light of the circumstances, obviously, you
know, different kinds of cases can have different
circumstances.

Q. Okay. Is one of the considerations that goes
into that how much -- whether there's time pressure to
get the pleading on file?

A. Sure. That would be one of the factors.

Q. And how much time the attorney has to
investigate the facts?

A. Yes. That would be one of the factors as
well.

Q. Okay. And so before making -- where an
attorney's client has no pressing need to get a pleading
on file immediately, and the pleading is going to
include serious allegations of misconduct by another
person, an ethical attorney will take the time needed to
do a full investigation; is that fair?

A. That's fair, and the converse of your
proposition is also fair. For example, if a client has
a pending discovery dispute in front of a judge that
could be ruled on any day, that would be an exigency

that would require pleadings to be filed more quickly

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021838

"
IMAGES-010-HOUSE_OVERSIGHT_028772.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

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_028772
"
IMAGES-001-HOUSE_OVERSIGHT_011525.txt,"Under army regulations, training recruits got a five-day leave every few
months during fironut. My first one came a bit later than usual, due to Rotem.
But in April 1960, shortly before the Passover holiday, I headed back to
Mishmar Hasharon. Despite my minor triumph of desert navigation, I still had
every reason to believe I’d be spending the next couple of years in an APC unit
in the Negev, and can’t pretend I was looking forward to it. Still, the idea of
returning home in my army uniform, at least a bit stronger and bulkier than
before, did give me a sense of pride.

It was on my third day back, when I was in the dining hall with a half-dozen
schoolmates-turned-soldiers, that Avraham Ramon sat down and joined us. He
was a yeled chutz, one of the “boys from outside” who had joined our class
when we were taken out of the regional high school. He, too, was now in the
army. As we were finishing lunch, he asked me: “How’s fironut?”

“Tough,” I said. “Boring.”
Smiling, he said: “How would you feel about joining a sayeret?”

The question took me by surprise. In Hebrew, sayeret meant “reconnaissance
unit”. It was the name given to special units that carried out missions behind
enemy lines, or under particularly exacting conditions. In the early 1960s, there
were only two of note. One was Sayeret Golani, attached to the Golani Brigade
near the northern border. The truly elite one was Sayeret Tzanhanim, the
paratroopers’ sayeret. It had been built from Company A of Battalion 890,
where Yigal had served in the 1950s.

“Which sayeret?” I asked.
“It’s called Sayeret Matkal,” he replied.

I’d never heard of it. When I asked what it did, he said: “I’m not allowed to
say. But are you interested?” The air of mystery made it seem only more
enticing. And no matter what it did, it had to be a step up from what lay ahead
of me in the Negev. “Yeah. Sure,” I replied.

I heard nothing further in the days after I got back to Beersheva. But at the
end of the month, I was ordered to report to a small hut in an army base near Tel
Aviv. It belonged to Maka Esser, the personnel department of military
intelligence. I was greeted by two men in their late 20s. One of them, shorter
even than me, introduced himself as Sami Nachmias. The other was tall and
slim and said in a surprisingly quiet voice: “I’m Shmil Ben-Zvi.” They were
two names which I, like most Israeli teenagers at the time, knew well. Ben-Zvi

04
HOUSE_OVERSIGHT_011525
"
IMAGES-011-HOUSE_OVERSIGHT_032363.txt,"From: Linda Stone

Sent: 11/13/2016 6:34:38 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: My sister's perspective from Europe

Importance: — High
Putin? NATO? Those were the points my sister raised that were concerning.

Will meet you in Boston or NYC sometime. Curious to hear your thinking.

On Nov 13, 2016, at 1:28 PM, jeffrey E. <jeevacation@gmail.com> wrote:

he is neither sexist or racistl that is the point and in fact the truth. he says things . to get elected and it
worked nothing more. talking heads goofyy

On Sun, Nov 13, 2016 at 1:26 PM, Linda i oi
I am looking at this from over here in Germany. American politics gets reduced in the end to only a few issues:

pro-life or pro-choice, gun laws, and establishment vs. anti-establishment. Political categories are so wishy
washy and intermingled with what is termed ‘liberal’ and 'conservative' that one forgets what they actually
mean.

Of course, not everybody who voted for Trump is sexist or a racist, but, on some level, they didn't care if he is.
He knew how to gather momentum with the discourse he chose, and, even if he changes his tone, he has let
loose a storm. We will brace ourselves over here for Putin's eventual takeover of the Baltic States. Putin has
extended his power back into Republic of Georgia, the Crimea, and Armenia. Trump has said that he would
not come to the aid of Nato allies if they were attacked. IS is the least of our problems here in Germany;
Erdogan is a much larger threat, for now.

I don't see Hillary Clinton as being at fault. I see the growth of nationalism (all throughout the world, not just
in the USA) and an underestimation of the fear that non-Hispanic whites have about the trajectory they are on
to become a minority (in the USA and other European countries).

Every news show, talk show, etc here is discussing and analysing the fallout of Trump's win. German
politicians are hoping to learn from it, to stem the growth of the right wing AFD party here. As far as I know,
Merkel is the only leader who congratulated Trump with a warning.

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_032363
"
TEXT-002-HOUSE_OVERSIGHT_032513.txt,"From: Deepak Chopra 
Sent: 3/6/2017 5:54:42 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Meeting 
Attachments: image001.png; image001.png; OutlookEmoji-1483997936424_email-signature-plain.jpg.jpg 
Importance: High 
Crazy new re Trump claims on wiretapping 
Is he loco ? 
Deepak Chopra MD 
2013 Costa Del Mar Road  
Carlsbad, CA 92009  
Chopra Foundation 
Jiyo 
Chopra Center for Wellbeing 
• • • • • 
. • • . • . 
. •• • • . • 
••• ••• 
._• • 
-• 
• ...• REALITY IS STRUCTURED 
*.* • • • . IN CONSCIOUSNESS. 
• 
•  
DISCOVERINGYOURCOSMICSELF.COM 
• 
4,* 
• 
On Mar 6, 2017, at 7:51 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
Yes 
On Mon, Mar 6, 2017 at 1:48 AM Deepak Choprat 
Are you in the US ? 
Deepak Chopra MD 
2013 Costa Del Mar Road 
• 
wrote: 
• 
0 
HOUSE OVERSIGHT 032513 
Carlsbad, CA 92009 
Chopra Foundation 
Jiyo 
Chopra Center for Wellbeing 
• • • • • • . • • • ilk • • 
• • • • • • 
• •• • . • • • 
• • • - . 
• • • •: • 
• • , • 
II . • . 
• • . 
• • • • • REALITY IS STRUCTURED 
• . • 
- - IN CONSCIOUSNESS. 
• 
. • DISCOVERINGYOURCOSMICSELF.COM 
• 
• • 0 • • 
• 
• • • • 
• 
• 
• 
On Mar 6, 2017, at 7:44 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
I'm glad 
On Mon, Mar 6, 2017 at 1:19 AM Deepak Chopra 
meeting today --will let you know 
Lat night was a blast 
Ended 1 AM 
2013 Costa Del Mar Road 
Carlsbad, CA 92009 
Chopra Foundation  
Jiyo  
Chopra Center for Wellbeing 
• Y U. ARE 
-THE 
UNIVER SE 
0.111,1•.•••• 
11011111•41Mr. •••• ••• 
....... 
.....CNDp 
wrote: 
HOUSE OVERSIGHT 032514 
discoveringyourcosmicself.com  
From: jeffrey E. <jeevacation@gmail.com> 
Sent: Sunday, March 5, 2017 10:16:48 AM 
To: Deepak Chopra 
Subject: Re: Meeting 
physical processes , not intersting 
On Sun, Mar 5, 2017 at 10:14 AM, Deepak Chopra ______________________________lwrote: 
Meeting this professor who studies quantum entanglement in brains 
Deepak Chopra MD 
2013 Costa Del Mar Road 
Carlsbad, CA 92009 
Chopra Foundation 
Jiyo 
Chopra Center for Wellbeing 
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 032515 
The information contained in this communication is 
confidential, 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 032516 
"
IMAGES-002-HOUSE_OVERSIGHT_014183.txt,"(m)gzegs 297 258 90

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HOUSE_OVERSIGHT_014183
"
TEXT-002-HOUSE_OVERSIGHT_032275.txt,"From: Kathy Ruemmler___________________ 
Sent: 7/14/2016 11:32:51 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Yikes 
Sent from my iPad 
On Jul 14, 2016, at 7:27 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
every news channel today . as she apologized for her trump remarks. 
On Thu, Jul 14, 2016 at 7:26 PM, Kathy Ruemmler____________________________Wrote: 
I like that dress....narciso Rodriguez. Where did you see that picture? RBG was my date to state dinner. 
Sent from my iPad 
On Jul 14, 2016, at 7:09 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
pretty black dress. you and ruth ginsburg 
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 032275 
and may 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 032276 
"
TEXT-001-HOUSE_OVERSIGHT_030802.txt,"From: J [jeevacation@gmail.com] 
Sent: 5/30/2019 11:43:25 AM 
To: Michael Wolff 
Subject: Re: privleged 
https://www.rawstory.com/2019/05/new-book-paints-sordid-picture-of-trump-real-estate-deal-involving-
russian-oligarch-and-jeffrey-epstein/  
On Thu, May 30, 2019 at 7:24 AM Michael Wolff < wrote: 
Expensive. But... In a way this new round of calls is an opportunity: reporters suddenly thinking they don't 
know something or that there is a new angle—now would be a good moment to hit them with a better prepared 
set of responses. Somebody, 011ie or otherwise, should get started on this. 
On Thu, May 30, 2019 at 7:17 AM J <jeevacation@gmail.com> wrote: 
hes great. he needs to get the documents from the law firms that are wholly focused on this submission to 
the judge. . BTW He asked for 1 milllion per month. for a year. . 
On Thu, May 30, 2019 at 7:13 AM Michael Wolff < wrote: 
Again! Why you need a team in place! Where are you with 011ie? 
On Thu, May 30, 2019 at 7:09 AM J <jeevacation@gmail.com> wrote: 
lots of reporters inquiries. !. do i think that trump set me up? what do i know about his dealings? . did 
i speak to you? suggestion. all public record, house bought out of a bankruptcy proceding. I was the 
stalking horse bid. . never before was there a prosecution of erotic massage by women for money in 
someones home. every girl got money. returned. most interviewed by police over 21. all public 
record. . some concern on my team that i will get a cong subpoena. do i have to wear a tie? 
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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HOUSE OVERSIGHT 030802 
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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destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030803 
"
IMAGES-011-HOUSE_OVERSIGHT_032405.txt,"From: Deepak Chopra an

Sent: 1/2/2017 4:39:38 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: From a physicist friend

Attachments: OutlookEmoji-1478302741070_PastedGraphic-1.tiff; OutlookEmoji-1478822725266_supergenes-960x200.jpg.jpg

Importance: — High

Today's Chronicle
http://www.stgate.com/opinion/chopra/article/Why-You-and-the-Universe-Are-One-10830679.ph

Why You and the Universe Are One
www.sfgate.com

The accepted view of reality holds that human beings exist in the
context of a vast physical universe ""out there."" Sir John Eccles, a
famous British neurologist and Nobel laureate, declared, ""I want
you to realize that there exists no color in the natural world, and no
sound — nothing of this kind; no textures, no patterns, no beauty,
no scent."" What Eccles means is that all the qualities of Nature,
from the luxurious scent of a rose to the sting of a wasp and the
taste of honey, are produced by human beings. The most distant
galaxies billions of light years away, have no reality without you,
because everything that makes any galaxy real— with the multitude
of stars with their heat, emitted light, and masses, the positions of
the distant galaxies in space and the velocity that carries each
distant galaxy away at enormous speed—requires a human
observer with a human nervous system. There are extremely faint
traces of photon activity in the brain, but the optic nerve doesn't
transmit photons to the visual

Chopra Foundation
Jiyo
Chopra Center for Wellbeing

HOUSE_OVERSIGHT_032405
"
IMAGES-005-HOUSE_OVERSIGHT_020020.txt,"13783 removed a prior directive to consider climate change—a precursor to coming
debates on the country’s position regarding the Paris Climate Accord.

On April 3, Kushner unexpectedly turned up in Iraq, accompanying Gen. Joseph
Dunford, chairman of the Joint Chiefs of Staff. According to the White House press office,
Kushner was “traveling on behalf of the president to express the president’s support and
commitment to the government of Iraq and U.S. personnel currently engaged in the
campaign.” Kushner, otherwise a remote and clammed-up media presence, was copiously
photographed throughout the trip.

Bannon, watching one of the many television screens that provided a constant
background in the West Wing, glimpsed Kushner wearing a headset while flying in a
helicopter over Baghdad. To no one in particular, recalling a foolish and callow George W.
Bush in flight gear on the aircraft carrier USS Abraham Lincoln proclaiming the end of the
Iraq War, he intoned, “Mission accomplished.”

Gritting his teeth, Bannon saw the structure of the White House moving in the exact
opposite direction from Trumpism-Bannonism. But even now, he was certain he perceived
the real impulses of the administration coming his way. It was Bannon, stoic and resolute,
the great if unheralded warrior, who, at least in his own mind, was destined to save the
nation.

HOUSE_OVERSIGHT_020020
"
IMAGES-001-HOUSE_OVERSIGHT_011243.txt,"mOnstermas | RT @MarshallElla: brexit voters are the type of people | 23 Jun 2016, | Munchk 14 | positive
hh who go on holiday to Spain and request a full English 15:47 - CEST | inland
breakfast everyday.
ekanderson | RT @FPA_ORG: The #Brexit vote is today. Here are the | 23 Jun 2016, | Atlanta, 1 | negative
arguments for and against remaining in the European | 15:47-CEST | GA
Union in one chart. https://t.co/zaé€ |
happyburke | RT @iowahawkblog: ""| want you to fire me."" 23 Jun 2016, | Toronto 5 | positive
an @DanHannanMEP gives a superb #Brexit Leave pitch 15:47 -CEST |,
at Oxford Ontario
https://t.co/HtEUuB4dCo
iMillasTalk RT @ronaldlaessig: In #GroAYbritannien hat die 23 Jun 2016, 12 | neutral
#BrexitAbstimmung begonnen. 46,5 Mio BAY%rger 15:47 - CEST
haben sich registrieren lassen und kA(Innen bis 22a€!
scottsiepker | Do you find the term #Brexit annoying. (I vote yes!) 23 Jun 2016, | Des O | negative
15:47 - CEST | Moines,
lowa
NerdElert if we get the expected Brexit Stay vote today...which 23 Jun 2016, 0 | negative
we will know about 3am tomorrow EST ... smallcaps 16:04 - CEST
will explode tomorrow imo
Shockster67 | #iVoted #Brexit #Leave 23 Jun 2016, | Yorkshir 0 | positive
16:04-CEST |e
He_ Has Fail | #brexit https://t.co/filsZqi1PV 23 Jun 2016, 0 | negative
ed 16:04 - CEST
honinbo RT @golub: 'Brexit' to be followed by Grexit. 23 Jun 2016, | 127.0.0. 1776 | positive
Departugal. Italeave. Fruckoff. Czechout. Oustria. 16:04-CEST | 1
Finish. Slovakout. Latervia. Byegium.
rclaessen a€ceNo conspiracya€e: BREXIT trademark registrant 23 Jun 2016, | Cologne 0 | neutral
on using IP to defend political discussion World 16:04-CEST |,
Trademark Review (sa€} https://t.co/ZXBlefJW8l German
y
HBEisen Traders eye big opportunities after Brexit vote 23 Jun 2016, | New O | neutral
#HedgeFunds #Brexit HUK HEU @mdc 16:04 - CEST | York, NY
https://t.co/MTqjmVrsxv
Ccolmar #Internacionales Inmigrante china a favor del Brexit 23 Jun 2016, | Enla vA- O | neutral
porque su ""“empleado espaA+ol siempre estAj 16:04-CEST | a
dormido"" https://t.co/7OphsSDL7j
EaZyForm Stephanie Flanders beim Handelsblatt: 4€ZEin Brexit 23 Jun 2016, | Augsbur O | negative
wAYrde die MAurkte [Axnger verunsicherna€! 16:04 - CEST | g
https://t.co/wHjrrvrDBn German
y
roxylovesluc | @ElianaBenador @dawngpsalm63 . Please #Brexit!!! 23 Jun 2016, | Indiana 0 | neutral
y It's their last hope. 16:04 - CEST
CyberActual | https://t.co/pNoo9coPeh LibAOration.fr: Un Brexit 23 Jun 2016, 0 | negative
ite coAnterait 1% du PIB aux Russes 16:04 - CEST
https://t.co/7rQcSEbyd6
hansbos RT @DavMicRot: #Brexit down to 18%, lowest 23 Jun 2016, | 52.2297 9 | negative
likelihood of leaving since @PredictWise tracking 16:04 -CEST | 8641,5.
started 1/1/16. Also, Pounds just hit yearly ha€ | 458034
5

HOUSE_OVERSIGHT_011243
"
IMAGES-002-HOUSE_OVERSIGHT_013834.txt,"The existential vacuum manifests itself mainly in a state of boredom.

— VIKTOR FRANKL, Auschwitz survivor and founder of Logotherapy, Man’s Search for Meaning

Life is too short to be small.

— BENJAMIN DISRAELI

D keamtinine will be fun, and it will be hard. The harder it is, the more you need it. To save time, I

recommend using the automatic calculators and forms at www.fourhourblog.com. Refer to the model
worksheet as you complete the following steps:

1. What would you do if there were no way you could fail? If you were 10 times smarter than the
rest of the world?

Create two timelines—6 months and 12 months—and list up to five things you dream of having
(including, but not limited to, material wants: house, car, clothing, etc.), being (be a great cook, be fluent
in Chinese, etc.), and doing (visiting Thailand, tracing your roots overseas, racing ostriches, etc.) in that
order. If you have difficulty identifying what you want in some categories, as most will, consider what
you hate or fear in each and write down the opposite. Do not limit yourself, and do not concern yourself
with how these things will be accomplished. For now, it’s unimportant. This is an exercise in reversing
repression.

Be sure not to judge or fool yourself. If you really want a Ferrari, don’t put down solving world
hunger out of guilt. For some, the dream will be fame, for others fortune or prestige. All people have
their vices and insecurities. If something will improve your feeling of self-worth, put it down. I have a
racing motorcycle, and quite apart from the fact that I love speed, it just makes me feel like a cool dude.
There is nothing wrong with that. Put it all down.

2. Drawing a blank?

For all their bitching about what’s holding them back, most people have a lot of trouble coming up with
the defined dreams they’re being held from. This is particularly true with the “doing” category. In that
case, consider these questions:

1. | What would you do, day to day, if you had $100 million in the bank?

2. | What would make you most excited to wake up in the morning to another day?

Don’t rush—think about it for a few minutes. If still blocked, fill in the five “doing” spots with the
following:

one place to visit

one thing to do before you die (a memory of a lifetime)
one thing to do daily

one thing to do weekly

one thing you’ ve always wanted to learn

3. What does “being” entail doing?

Convert each “being” into a “doing” to make it actionable. Identify an action that would characterize this
state of being or a task that would mean you had achieved it. People find it easier to brainstorm “being”
first, but this column is just a temporary holding spot for “doing” actions. Here are a few examples:

HOUSE_OVERSIGHT_013834
"
IMAGES-005-HOUSE_OVERSIGHT_019879.txt,"CONTENTS

AUTHOR’S NOTE
PROLOGUE: AILES AND BANNON
1. ELECTION DAY
2. TRUMP TOWER
3. DAY ONE
4. BANNON
5. JARVANKA
6. AT HOME
7. RUSSIA
8. ORG CHART
9. CPAC
10. GOLDMAN
11. WIRETAP
12. REPEAL AND REPLACE
13. BANNON AGONISTES
14. SITUATION ROOM
15. MEDIA
16. COMEY
17. ABROAD AND AT HOME
18. BANNON REDUX
19. MIKA WHO?
20. MCMASTER AND SCARAMUCCI

21. BANNON AND SCARAMUCCI

HOUSE_OVERSIGHT_019879
"
IMAGES-012-HOUSE_OVERSIGHT_032865.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 5/17/2016 1:56:20 PM

To: Gerald 82rtcr
Subject: Re:

thanks for filling me in

On Tue, May 17, 2016 at 3:53 PM, Gerald Barton i wrote:

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.

HOUSE_OVERSIGHT_032865
"
IMAGES-006-HOUSE_OVERSIGHT_021186.txt,"this in every possible way. Even though a week’s wages for working a
full-time job as a waitress didn’t come close to the money I had made in a
couple hours of working for Jeffrey, I was happier than I had been in a
long time. I made some friends at my new job and found my duties to be
easy and pleasant. I was good at making customers smile and keeping
them happy becoming the waitress that made the most tips for the night,
which in turn made my co-workers happy since we'd all split the tips at
the end of the week. For the first time in a long time I had boys my age
hitting onto me, and not that 1 was ever taken aback by there attempts but
it reminded me of how it felt to be around a younger crowd. I missed so
much of what I couldn’t get back and the more | tasted it, the more I
remembered how to smile. The relationship between T.J and | began to
falter in a way that was beyond reconciliation. Fights became physical
and I saw sides to him that only pushed me away more. He refused to
look for work to help pay bills and he became utterly frustrated not
having his usual cocktail of assorted drugs to keep him from feeling
anything at all. He didn’t like the fact I was growing inside and thinking
beyond his elusive world. I had gone through too much to accept another
form of abuse and degradation. Making that point very clear to him by
kicking him out of my apartment back to live with his parents, I felt
liberated like never before. | kept up with my rent and cleaned my act up.
Enrolling in a yoga course and keeping my focus on staying fit and
healthy became my only source of enjoyment. I-was free and living for
myself.

While out doing the grocery shopping one evening I couldn’t help but
stop at the local pet store and fell in love with a furry pooch. She was a
Japanese Chow-Chow and a bundle of fur that more resembled a baby
brown bear than a dog. | took her home with me and instantly she became
my best friend. We went for several walks a day and she bore the brunt of
many tear filled conversations, she was my loyal companion who
understood more than anyone had before, all I really need was someone
to listen and funny enough it was her that filled that hole.

Nearly three months had gone by and not a word from Jeffrey or
Ghislane. With TJ out of the picture now too all T had to concentrate on
was work, my parents and brothers, and of course my dog, Mary-Jane. I
was going to family night dinners and bon fires again. My older brother
was getting married to an amazing woman in a few weeks and I got to be
apart of their beautiful ceremony. Small details of life’s journey that I
already missed so much of and now being able to smile at the simple
things day in day out really seemed to put the real value of life into
perspective for me. Everything seemed to be working out for itself and I
was really happy, until he came back, T.J thought he’d come over my
place one evening while I was sitting at home just watching TV.

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Obviously mentally distorted from whatever choice of drugs he was
smoking that night. He screamed down my apartment complex, going
mad and scaring my neighbors I felt like I had no choice but to let him
inside. I tried talking to him as a good friend would, just wanting him to
see what he was doing to himself and what he had become. Part of me
still loved him and took pity on watching him spiral downwards. Taking
him back into my life was not a decision I made whole-heartedly, but was
something I did out of guilt and what I thought was loyalty. He moved his
clothes back to my place, which was all he ever owned anyways and we
tried to pick up the broken pieces. T.J being still badly addicted to many
drugs, I had to be very careful where 1 kept my jewelry and expensive
items. [ decided to rent out a space at a local spot and store my cherished
items away, just taking the necessary precautions, I thought.

Still not working I knew how he was scraping by money and I didn’t
agree with it, T.J was a known thief and had been caught several times
attempting to steal things, even as stupid as DVD’s and PS2 or Xbox
games from a local Blockbuster. He even stole from his parents, his sister
and his brother and would probably steal a piece of candy from a five
year old kid if he knew that it would get him his next fix. He hated the
change in myself, realizing I couldn’t be brought back down by his ways
but knowing I still stuck by his side and defended him from anything that
would hurt him wanting to believe that he still wanted show the bits of
human nature left in his empty heart.

Unable to stand by and see me do well for myself he contemplated a
way to try and bring me down. After a busy shift one night, he retaliated
with another show of control. I had just finished cleaning up my area and
setting out the tables to be ready for the next day when I went to the bar
to hang up my apron and put my nights tips in the tip bowl on the counter
by the beer tap. On one of his drug induced rampages he stormed into the
restaurant where I was working and started to pick a fight with me. |
knew he was off his face when he started accusing me of sleeping with
my manager on shift that evening. Having no bias or ground to stand on
in his attempt to make me look bad in front of everyone, I just laughed
him off as a drunk idiot who needed to go home and sleep off the night’s
repercussions, although I was fuming inside that he embarrassed me but I
still made excuses for him and told my boss I had to leave early to bring
him home.

The bar was deserted as T.J waited alone for me slumped in a barstool
and looking worse for wear. [ had to go to the back of the restaurant and
do some explaining to the manager on duty, | couldn’t afford to lose my
job over this incident. Surprisingly he was sympathetic towards my
dilemma and even told me I could do a lot better than that schmuck,
patting my back and telling me to have a couple days off. 1 punched out

84

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HOUSE_OVERSIGHT_021186
"
IMAGES-012-HOUSE_OVERSIGHT_032871.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 6/1/2016 4:00:04 PM
To: Thomas Jr., Landon
Subject: Re: The book on you...

ask me august

On Wed, Jun 1, 2016 at 11:54 AM, Thomas Jr., Landon Te tc:

everyone except the NYT it seems:) yes or no question: does he win?

On Wed, Jun 1, 2016 at 11:47 AM, Story <jeevacation@gmail.com> wrote:
every day

On Jun 1, 2016, at 11:46 AM, Thomas Jr., Landon (wrote:

are you still getting calls from reporters re Trump?

On Wed, Jun 1, 2016 at 11:28 AM, jeffrey E. <jeevacation@gmail.com> wrote:
no

On Wed, Jun 1, 2016 at 11:25 AM, Thomas Jr., Landon iii wrote:

Keep getting calls from that guy doing a book on you -- John Connolly. He seems very interested
in your relationship with the news media. I told him you were a hell of a guy:) One oddity: he said
he had been told that that quote from Trump about you in the original NY Mag story had been
manufactured. ie, that I did not actually speak to Donald. Which is bull shit of course. I am sure
that is what Trump told him as they have been getting a lot of questions from reporters about you.

He actually seemed to be a sensible guy/solid reporter -- just from the few conversations I had
with him. I think he is close to finishing up.

Did you ever speak to him?

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

HOUSE_OVERSIGHT_032871
"
IMAGES-011-HOUSE_OVERSIGHT_031118.txt,"From: Peggy Siegal Un

Sent: 3/7/2013 2:03:11 PM

To: jeevacation@gmail.com

Subject: Fw: Oscar Diary

I am struggling thru this. It is so late already. I am so stressed out. will finishe is in a day or
two.. I can not write about the Katzenberg party. Maybe can just mention is happened in my hotel. But

the reason to go was to support Katzenberg and network. More to come. Peg

----- Original Message -----

From: Peggy Siegal

Sent: Thursday, March 07, 2013 08:51 AM
To: Peggy Siegal

Subject: Oscar Diary

It's Thursday morning on Wilshire Boulevard and the Academy of Motion Pictures Arts and Sciences has just
opened it's doors for ticket pick-up for the 85th Oscar telecast.

Forty voting members, the distinguished director Norman Jewison and I are on a long single file line that
snakes thru the lobby patiently waiting to go upstairs to pick up our tickets. My seats were awarded via
a lottery system. we clutch our photo I.D.

Suddenly, a messenger slips in wearing a smart khaki windbreaker and cuts through the line. He announces
to the uniformed guard in a stage whisper, ""Dreamworks"", and as if Steven Spielberg himself had just
delivered the Gettysburg address, is ushered upstairs.

That is the final act of social justice of the “Lincoln” campaign.

I am sleep deprived and jet lagged having just spent six hours on a flight sitting next Paula Wagner who
is Tom Cruise's ex-agent turned Broadway producer for Jessica Chastain's ""The Heiress"". We discuss
Jessica's not so great chances to beat Jennifer Lawrence for Best Actress. I mention Harvey Weinstein's
concern about Emmanuel Riva's last minute surge. The French phenomena doesn't speak English, has never
been to L.A. and it's like voting for a ghost, even on her 86th birthday.

This is the year I got phone calls in September from top studio executives announcing each are winning
the Oscar. Their euphoric giddiness is due to the quality of the films resulting in the priciest oscar
campaigns on record and astounding audience support at the theaters.

Seven of the nine best picture nominees have taken in well over $100 million at the domestic box office
to date, but it's the worldwide numbers in the millions that are staggering.

Twentieth Century Fox's ""Life of Pi"" caused a tsunami at $595,

Universal's “Les Miserables"" scored $412, the Weinstein Cos.’ “Django Unchained"" whipped up $395,
Dreamworks’ ""Lincoln"" delivered at $254, warner's ""Argo"" captured $219, Weinstein's “Silver Lining
Playbook"" danced to $187 and Sony's ""Zero Dark Thirty” killed at $107 million.

In comparison, Sony Classics’ ""Amour"" received $19 and Fox Searchlights' ""Beast of the Southern wild”
worked up $19 million.

Hugh audiences having actually seen the films this year have an ear for the nuances of the Oscar race and
everyone including Ben Affleck follow the bloggers religiously.

So by Thursday morning on line at the Academy the informed buzz was as follows: ""Argo"" takes best
picture because is was most entertaining. The director snub to Ben Affleck was a Godsend as George
Clooney's advice came from far away Berlin where he was in pre-production on ""The Monuments Men"".
Warner's president Sue Kroll kept the campaign clean and calm on the home front.

“Lincoln's” victory is Daniel Day Lewis from day one of shooting, no pun intended. The suggestion that
Obama is our answer to Lincoln was interesting. Voters knew Obama secretly hosted three screenings in the
white House, but they weren't invited. The Hollywood Foreign press were the biggest winners with Bill
Clinton's surprise appearance on their broadcast. Dreamworks’ ran an impeccable patriotic campaign that
the media ate up.

The best director race had the most drama. Hollywood dreaded Spielberg loosing to Ang Lee. (Eventually
everyone was thrilled Steven was anointed president of the Cannes Jury for 2013 the day after the awards
show. )

The voters knew beloved Ang Lee's three year boat ride was the technical miracle. Fox's $595 million
international box office blew in the win.

Harvey Weinstein having three horses running is always the most talked about. His loquacious Quentin
Tarentino was a lock for screenplay. Best supporting actor was a total toss up with a sentimental edge

HOUSE_OVERSIGHT_031118
"
IMAGES-006-HOUSE_OVERSIGHT_021192.txt,"for by Jeffrey, he pointed out needed changes all over the place, driving
the builders mad, as always. He wanted the place to scream out
“GHISLANE” with a bold statement. Checkered floors and bold colors
was the theme, like the queen of hearts from Alice in Wonderland, very
well suited I thought.

The dust from the walls being torn down chocked my throat and the
elevator was not in use, the stairs were hardly either. The whole house
was in bad shape then having to go up three flights of rickety steps was a
bit of a risk too but worth it once you made it to her future walk in
wardrobe or to us commoners, a closet the size of a small a house.
Complete with a dressing room, luxurious bathroom and plenty of storage
for her every ensemble. Even without it being finished it was already a
work of art, a sanctuary for any woman. She adorned herself in her future
home, finally her own, relishing every inch of it, she already put in a
work desk and spoke constantly of its ongoing renovations. About an
hour later we were off to pick out curtains and look at some paint samples
at a couple different boutique looking shops. Easily passing off as an
ordinary couple for the day, they walked arm in arm strolling the streets
of the Upper East Side. Except to me, still replaying the early afternoon’s
events, shaking my head over the echoed images in my mind, I followed
behind just waiting to be needed again.

Over the course of the next few months was a constant influx of
exorbitant excursions at Jeffrey’s mansions, mainly to his island, to keep
up with his ever-demanding sexual appetite with various young women
and teenage girls. I got back on the Xanax, an old habit that I felt at the
time would stop my memories from flowing back, rehabilitate my
problems and relax me enough to deal with any situation at hand, no
matter what the circumstance revealed itself to be. It was a drug that
would blind my eyes to everything I should’ve been running from.

Having Brunel always in the picture these days wasn’t helping me at all
either. Sending his girls for Jeffrey at all of his places now and at a
vigorous flow, they had an abundance of girls at their disposal. If I were
to count one girl for everyday of the week, it would be the
underestimated statement of the century. So many girls between the two
of them, some nights it would be a free for all frenzy for Jeffrey and
Brunel, seven or so girls giving them their upmost attention, doting on
their every moan and whimper, Jeffrey being the main concern since
Brunel worked for him and we were all aware of that too. If there were
heaven on earth for men like Jeffrey, than he would be their God. Every
one of his inner most desires was fulfilled when his harem of women was
around. No wonder he didn’t travel much abroad these days, all he ever
wanted was right at his doorstep. I couldn’t believe that he was still
asking me to bring girls to him as well. There was never enough girls to

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fill his appetite, so on occasion I would meet a pretty girl around my age
and invite her back to his place to make some quick money by offering
her a really good contact in the modeling and acting business. Keeping
him satisfied and in need of me was a tiring job. With so much
competition I had to be on the ball, seeming ambitious to grant him all of
his desires. It was a lot of pressure and a spotlight of a role to undertake
at such a young age but I told myself this is what my life’s training had
led me up to be.

My Birthday was around the comer and turning eighteen had lost all of
its sparkle and pizzazz. There were no more surprises in store for me,
nothing that would bedazzle me I hadn’t done already. I spent my
birthday on the island, having a quiet dinner and watching “Sex and the
City” on the couch with Jeffrey, Ghislane and Emmy. There was no cake
or a celebration of any sort but I did get a couple of presents that I opened
outside underneath the main cabana. Jeffrey gave me a beautiful pair of
sapphire and diamond encrusted earrings and Ghislane bought me another
designer makeup case. I thanked the two of them with a tight squeeze and
a gratuitous short spiel. As it went quiet, I looked out to the ocean and
wondered if across these waters was there ever going to be happier days
spent with someone special to me. Would he be kind, compassionate, and
always be there when I needed him most? Or would | end up settling for
my final bit of training, a marriage to a greedy old scrooge? Either way
what I wanted most didn’t matter right now, I was still bound by Jeffrey’s
hold over me and all I had to keep telling myself to get through this epic
journey was, this is just the way it was for now.

Around the table for breakfast Jeffrey announced that he was expecting
a few guests coming over with Brunel, no one of importance, just his
usual entourage of beautiful girls. Russian models this time and Jeffrey
was also having a photographer flown in to take modeling photos using
the island as the perfect background for a sexy shoot. All of us girls were
ushered onto rocks, hammocks, dug into sand and displayed just about
anywhere they wanted. We were being photographed in next to nothing,
like a netted fabric placed over us if the shot called for it, but the more
provocative the more Jeffrey and Brunel loved it.

After the photo shoot we did some outdoor watersports. While us girls
raced the jet skis around and jumped on the water trampoline, the men
stayed on dry land to watch us from the beach. I was so used to this
constant charade of girls and I didn’t mind having a bit of fun but this
was different, I had to be more than just polite because | already knew it
wouldn’t be long before we were all intimate with each other as well.
Being the only girl that spoke English out of all of them was also a huge
blunder. The only way we could communicate was through hand gestures

96

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GIULFREO03229

HOUSE_OVERSIGHT_021192
"
IMAGES-003-HOUSE_OVERSIGHT_015818.txt,"“Theres an infinite number of
monkeys outside who want to
talk to us about this script for
Hamlet they've worked out.”

Douglas Adams
“I'm not young enough to know
everything.”
J.M. Barrie

“He has Van Gogh’ ear for music.”
Billy Wilder

HOUSE_OVERSIGHT_015818
"
TEXT-002-HOUSE_OVERSIGHT_031768.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
Sultan Bin Sulayem 
10/17/2018 5:26:21 AM 
Jeffrey Epstein [jeeyacation@gmail.com] 
Not Bad for a HORSE Head Though 
image001.jpg 
Importance: High 
Trump calls Stormy Daniels 'Horseface' 
Jordan Fabian 
1 hr ago 
0 Photo by Gabe Ginsberg/Getty Images Stormy Daniels hit back with an insult of her own after President 
Trump called her ""Horseface."" President Trump on Tuesday called adult-film star Stormy Daniels ""Horseface"" 
and threatened to ""go after"" her after he won a court victory over his alleged mistress. 
HOUSE OVERSIGHT 031768 
""Federal Judge throws out Stormy DaniaIs [sic] lawsuit versus Trump. Trump is entitled to full legal fees.' 
@FoxNews Great, now I can go after Horseface and her 3rd rate lawyer in the Great State of Texas. She will 
confirm the letter she signed! She knows nothing about me, a total con!' he tweeted. 
The tweet comes one day after a federal judge in California threw out Daniels's defamation lawsuit against 
Trump and ordered Daniels to repay the president's legal fees. 
Daniels's attorney, Michael Avenatti, responded by calling Trump a ""disgusting misogynist"" and a ""liar"" who 
has dishonored his family and country. 
""You are a disgusting misogynist and an embarrassment to the United States. Bring everything you have, 
because we are going to demonstrate to the world what a complete shyster and liar you are. How many other 
women did you cheat on your wife with while you had a baby at home?"" he tweeted. 
HOUSE OVERSIGHT 031769 
"
IMAGES-002-HOUSE_OVERSIGHT_014197.txt,"sais
BSD Sozb Lee 00
ely ma eee sebuep ssiog end LP
19}9H Aajex28g asino7] jue L

(IH) STSLOH asia weerhlidet

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nessen Beer c9e 608 rho yesodedd Deby Ler oo
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71

GIUFFRE00164

HOUSE_OVERSIGHT_014197
"
TEXT-002-HOUSE_OVERSIGHT_032261.txt,"From: Kathy Ruemmler 
Sent: 5/21/2016 4:47:49 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
I talked about his role in the birther movement. In car on way to Denver airport now. 
Sent from my iPhone 
On May 21, 2016, at 8:38 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
con man, says it all 
On Sat, May 21, 2016 at 10:27 AM, Kathy Ruemmler 
.1=111111\N 
I am about to go on stage. The first part of my presentation is about Trump. 
Sent from my iPhone 
On May 21, 2016, at 8:08 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
speak.? 
On Sat, May 21, 2016 at 7:51 AM, Kathy Ruemmler_____________________ 
This is a stupid and exhausting trip. No more speeches. 
Sent from my iPad 
On May 20, 2016, at 8:31 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
rest 
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 
rote: 
wrote: 
HOUSE OVERSIGHT 032261 
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 032262 
"
IMAGES-011-HOUSE_OVERSIGHT_032411.txt,"HOUSE_OVERSIGHT_03241 1
"
IMAGES-005-HOUSE_OVERSIGHT_020034.txt,"length. He liked and needed his office wives, and he trusted them with his most important
personal issues. Women, according to Trump, were simply more loyal and trustworthy
than men. Men might be more forceful and competent, but they were also more likely to
have their own agendas. Women, by their nature, or Trump’s version of their nature, were
more likely to focus their purpose on a man. A man like Trump.

It wasn’t happenstance or just casting balance that his Apprentice sidekick was a
woman, nor that his daughter Ivanka had become one of his closest confidants. He felt
women understood him. Or, the kind of women he liked—positive-outlook, can-do, loyal
women, who also looked good—understood him. Everybody who successfully worked for
him understood that there was always a subtext of his needs and personal tics that had to
be scrupulously attended to; in this, he was not all that different from other highly
successful figures, just more so. It would be hard to imagine someone who expected a
greater awareness of and more catering to his peculiar whims, rhythms, prejudices, and
often inchoate desires. He needed special—extra special—handling. Women, he explained
to one friend with something like self-awareness, generally got this more precisely than
men. In particular, women who self-selected themselves as tolerant of or oblivious to or
amused by or steeled against his casual misogyny and constant sexual subtext—which was
somehow, incongruously and often jarringly, matched with paternal regard—got this.

OOK Ok

Kellyanne Conway first met Donald Trump at a meeting of the condo board for the Trump
International Hotel, which was directly across the street from the UN and was where, in
the early 2000s, she lived with her husband and children. Conway’s husband, George, a
graduate of Harvard College and Yale Law School, was a partner at the premier corporate
mergers and acquisitions firm Wachtell, Lipton, Rosen & Katz. (Though Wachtell was a
Democratic-leaning firm, George had played a behind-the-scenes role on the team that
represented Paula Jones in her pursuit of Bill Clinton.) In its professional and domestic
balance, the Conway family was organized around George’s career. Kellyanne’s career
was a sidelight.

Kellyanne, who in the Trump campaign would use her working-class biography to
good effect, grew up in central New Jersey, the daughter of a trucker, raised by a single
mother (and, always in her narrative, her grandmother and two unmarried aunts). She went
to George Washington law school and afterward interned for Reagan’s pollster, Richard
Wirthlin. Then she became the assistant to Frank Luntz, a curious figure in the Republican
Party, known as much for his television deals and toupee as for his polling acumen.
Conway herself began to make appearances on cable TV while working for Luntz.

One virtue of the research and polling business she started in 1995 was that it could
adapt to her husband’s career. But she never much rose above a midrank presence in
Republican political circles, nor did she become more than the also-ran behind Ann
Coulter and Laura Ingraham on cable televiston—which is where Trump first saw her and

HOUSE_OVERSIGHT_020034
"
IMAGES-001-HOUSE_OVERSIGHT_011257.txt,"#usepens #iVoted #VoteLeave #Brexit #EUref
#referendum httpsa€|

txellt RT @assemblea: No referendumNo democracy #Brexit | 23 Jun 2016, | Terrassa 163 | NA
https://t.co/6Rsn9rrsof 18:55-CEST |,
Catalun
ya
ficuselectric | Si vais a poner de moda lo de poneros calcetines 23 Jun 2016, | Cut Off, 0; NA
largos con bermudas en verano, deberAais celebrar un | 18:55-CEST | LA
brexit personal y salir de la UE.
aviation_dp | What Would Brexit Mean for Commercial Aviation? 23 Jun 2016, 0; NA
#uk https://t.co/UtLN4jWeol 18:55 - CEST
tomscott01 | RT @Vendavo: #Oil Prices Fall on Supply Overhang, 23 Jun 2016, | Devon, 1|NA
a€~Brexita€™ Uncertainty: https://t.co/YIjQOICWTa 18:55-CEST | PA
via @WS3J
anaisunbrok | | #Voteln for the #Brexit #EURef vote with @Brndstr & | 23 Jun 2016, | IdhA2n 0) NA
en unlocked my own Flag Profile pic! What will you vote? | 18:55 - CEST
Hivoted https://t.co/2z2twvvila
Dogma666S | Of course the tax dodgers want us to stay in #Brexit 23 Jun 2016, | UK 0; NA
teve 18:55 - CEST
taxhaven77 | RT @AdamSmith2sei: z2— 23 Jun 2016, 4|NA
¥aecenae 86aece”*¢-4136Etae$ee?téf é— 18:55 - CEST
€4°¥af7e?-cS aero
af—Afa,°a, Afi afeaf~a,’ce» eed e —Je 4Ae— AYE,
at’https://t.co/5rG7JOmIIF
af7é?-4h® abc ae—'d e EBrexita a °%0all ae—
¥6S€6t ‘O7Plee” éc—
zet?4°saysanl abhl«a “ae™ a, atteeced,’ae, YAR” ana,
ze an—
eae 24% [ aM« AP aR 4,1, SAP PAAMALZS,SA,’atear—
aRYa€,a°Ve?4cS, An2e?-A0, a€ |
louise steve | RT @uk_rants: #iVoted to #Leave cos | want UK to 23 Jun 2016, | UK 42 | positive
ns_ remove 3rd World tariffs & let those who work bloody | 18:55 - CEST
hard live some semblance of life.
H#Bra€ |
roservaqup | RT @AgentsecretO86: Fractura social en inglaterra a 23 Jun 2016, 13 | NA
ons causa del brexit. Las familas no se hablan entre ellas! 18:55 - CEST
Peleas en las calles. Queman baa€ |
AmourAStar | #Brexit #VoteLeave #YourVoteCounts #eureferendum | 23 Jun 2016, | London, 0 | positive
https://t.co/pWqQzD8zj4 18:55 - CEST | England
noname210 | RT @ForexLive: The Brexit vote is playing out in the 23 Jun 2016, 2)NA
174 market exactly like the Scottish referendum 18:55 - CEST
https://t.co/TpOzeey6FJ https://t.co/Q2iQ5a€ |
pseudomon | RT @MooseAllain: If it ain't broke, don't brexit. 23 Jun 2016, | London, 4|NA
as 19:12 - CEST | UK
CPY_Oficial | Los mercadA?logos tambiA@n opinan sobre el Brexit 23 Jun 2016, | YucatAj O | neutral
https://t.co/RBo1sEx76t 19:12 - CEST | n
KeithARober | supporting #Brexit wants me to help them spread the | 23 Jun 2016, | Glasgow 0; NA
tson word then let me know | shall do so! 19:12 -CEST |,
Scotland

HOUSE_OVERSIGHT_011257
"
IMAGES-002-HOUSE_OVERSIGHT_013820.txt,"If I offered you $10,000,000 to work 24 hours a day for 15 years and then retire, would you do it? Of
course not—you couldn’t. It is unsustainable, just as what most define as a career: doing the same thing
for 8+ hours per day until you break down or have enough cash to permanently stop.

How else can my 30-year-old friends all look like a cross between Donald Trump and Joan Rivers?
It’s horrendous— premature aging fueled by triple bypass frappuccinos and impossible workloads.

Alternating periods of activity and rest is necessary to survive, let alone thrive. Capacity, interest, and
mental endurance all wax and wane. Plan accordingly.

The NR aims to distribute “mini-retirements” throughout life instead of hoarding the recovery and
enjoyment for the fool’s gold of retirement. By working only when you are most effective, life is both
more productive and more enjoyable. It’s the perfect example of having your cake and eating it, too.

Personally, I now aim for one month of overseas relocation or high-intensity learning (tango, fighting,
whatever) for every two months of work projects.

3. Less Is Not Laziness.

Doing less meaningless work, so that you can focus on things of greater personal importance, is NOT
laziness. This is hard for most to accept, because our culture tends to reward personal sacrifice instead of
personal productivity.

Few people choose to (or are able to) measure the results of their actions and thus measure their
contribution in time. More time equals more self-worth and more reinforcement from those above and
around them. The NR, despite fewer hours in the office, produce more meaningful results than the next
dozen non-NR combined.

Let’s define “laziness” anew—to endure a non-ideal existence, to let circumstance or others decide life
for you, or to amass a fortune while passing through life like a spectator from an office window. The size
of your bank account doesn’t change this, nor does the number of hours you log in handling unimportant
e-mail or minutiae.

Focus on being productive instead of busy.

4. The Timing Is Never Right.

I once asked my mom how she decided when to have her first child, little ol’ me. The answer was
simple: “It was something we wanted, and we decided there was no point in putting it off. The timing is
never right to have a baby.” And so it is.

For all of the most important things, the timing always sucks. Waiting for a good time to quit your
job? The stars will never align and the traffic lights of life will never all be green at the same time. The
universe doesn’t conspire against you, but it doesn’t go out of its way to line up all the pins either.
Conditions are never perfect. “Someday” is a disease that will take your dreams to the grave with you.
Pro and con lists are just as bad. If it’s important to you and you want to do it “eventually,” just do it and
correct course along the way.

5. Ask for Forgiveness, Not Permission.

If it isn’t going to devastate those around you, try it and then justify it. People—whether parents,
partners, or bosses—deny things on an emotional basis that they can learn to accept after the fact. If the
potential damage is moderate or in any way reversible, don’t give people the chance to say no. Most
people are fast to stop you before you get started but hesitant to get in the way if you’re moving. Get
good at being a troublemaker and saying sorry when you really screw up.

HOUSE_OVERSIGHT_013820
"
IMAGES-010-HOUSE_OVERSIGHT_028766.txt,"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 [mailto 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.

All the best,

HOUSE_OVERSIGHT_028766
"
IMAGES-010-HOUSE_OVERSIGHT_030129.txt,"From: Kathy Ruemmler

Sent: 9/21/2014 4:55:16 AM

To: jeffrey E. [jeevacation@gmail.com]

Subject: Re: Floor Statement of Senator Barack Obama on the Nomination of Alberto Gonzales for Attorney General -

Wikisource, the free online library

Importance: — High

Will be there at 1.

On Sep 20, 2014 7:54 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
ok 1?

On Sat, Sep 20, 2014 at 7:45 PM, Kathy Ruemmler hi wrote:

I won't get back to the city until @ 11:30, unfortunately.

On Sep 20, 2014 7:43 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
see you at 1030? tomor?

On Sat, Sep 20, 2014 at 7:13 PM, Kathy Ruemmler > wrote:

Furnished
On Sep 20, 2014 7:12 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:

furnished or un?

On Sat, Sep 20, 2014 at 6:41 PM, Kathy Ruemmler i wrote:

I signed the lease in my name for a year, so I think Iam pretty stuck. It is $11,000 a month and Latham
reimburses me $8000 a month.

On Sep 20, 2014 6:35 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
whose name is the apt in, does it have to be this one? or would another be ok.

> wrote:

On Sat, Sep 20, 2014 at 3:54 PM, Kathy Ruemmler <
It appears that way. I have advised that him staying through the end is the clearly preferable alternative.

On Sep 20, 2014 3:52 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
so is he the alternate in essence

On Sat, Sep 20, 2014 at 3:49 PM, Kathy Ruemmler a wrote:

Mid-October, but there will be another run at him to reconsider.

On Sep 20, 2014 3:42 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
date certain? hamlet. ?

On Sat, Sep 20, 2014 at 2:25 PM, Kathy Ruemmler FP wrote:

Date?

On Sep 20, 2014 2:22 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
eric?

On Sat, Sep 20, 2014 at 12:59 PM, Kathy Ruemmler a wrote:

You are on the move. I went out for some retail therapy.

HOUSE_OVERSIGHT_030129
"
IMAGES-001-HOUSE_OVERSIGHT_011531.txt,"Kapusta was our guide on our punishing five-day treks through the Negev.
Though Avraham would see us off at the start, he stayed back at the base. In a
couple of the exercises, we relied on carrier pigeons to keep in touch with the
base, until Kapusta began killing them for dinner. Once, on a searingly hot
desert afternoon, hours from the nearest hospital, he spotted a poisonous snake.
He used pieces of wood to pry its head up from the sand, grabbed its neck and
strangled it.

We also studied some Arabic, though most of the Sephardi recruits already
spoke the language. My tutor was a Cairo-born Jew named Amin. In part
because he enjoyed mathematics and played the violin, we hit it off
immediately. He was also deaf in one ear. Languages have never been my forte.
Even in Hebrew, I have a slight lisp. That made mastering Arabic even harder.
Still, Amin would frequently compliment me on my accent, at which point the
others in the class would point out that I was lucky he was hard of hearing.

A year in, we were given a classroom briefing on what to do if we fell into
enemy hands. The gist was to tell them only our name, rank and serial number.
But we had a special session with Gibli, who told us about what captivity was
really like. He had been shot and wounded during a retaliation operation in 1954
and was captured by the Jordanians. Until his release, he was kept in solitary
confinement and tortured. The details of his imprisonment, the beatings and the
cigarette burns, were lurid. Partly because we were developing a bit of
commando self-confidence — but mostly to hide the discomfort of wondering
how each of us would react to being in enemy hands — we heckled him over an
account that seemed to get more heroic with each retelling. He wisely ignored
us. He told us that survival would be down not just to physical strength. It
required strength of mind, the kind of subtlety required to give your captors
something to keep them at bay and to establish some form of human bond, to
but withhold anything of genuine value.

A few weeks later, the whole sayeret held a four-day exercise in the Galilee.
On the second night, at about four in the morning, we shook off our backpacks
and settled in for a few hours’ sleep. The first thing I heard was shouting in
Arabic. I saw a guy hovering over me, his face covered. He handcuffed me,
pulled a burlap sack over my head, yanked me to me feet and led me off. We
were piled into the back of a truck. From the whispered comments around me, I
assumed all twenty of us had been taken. We drove for nearly four hours.
Twice, I got an slap across the face, more painful because of the burlap. I kept

60
HOUSE_OVERSIGHT_011531
"
IMAGES-011-HOUSE_OVERSIGHT_032377.txt,"Linda PINTO
Cabinet Alberto Pinto
11 rue d'Aboukir
75002 Paris

T
F:

www.albertopinto.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_032377
"
IMAGES-010-HOUSE_OVERSIGHT_029478.txt,"Business Expansion Portfolio and Prospectus
Twin City Care of The Virgin Islands
3

Commission on Accreditation of Ambulance Services (CAAS)

Any ambulance service can claim it is delivering quality service, but an accredited agency can
prove it through its written or documented procedures systems and reports. TCMIH demonstrates
full compliance with national ambulance standards of excellence to meet and maintain CAAS.
TCMIH will also maintain Health Insurance Portability and Accountability Act (HIPAA), Blood
Borne Pathogen (BBP), Vehicle Safety (EMD & CEVO), Virgin Islands Traffic Laws and VI Code
Tax Laws.

CAAS was established in 1990 as a not-for-profit national agency to uphold quality operating
standards for ambulance services. It is the gold standard for the ambulance industry, in as much as
JCAHO (Joint Commission of Accreditation of Healthcare Organizations) is the benchmark for
hospital excellence.

The accreditation process entails a serious self-assessment, comparing us to the accreditation
standards. We work through a comprehensive application process with guidance, consultation and
mentorship from our CEO; Mr. Jeffery Gilliard former Director of Coastal Ambulance, Brevard
County Florida.

Within two years TCIMH hopes to achieve and maintain recertification requirements for CAAS
Accreditation and joins the 160 agencies in 37 U.S. State, Canada and the West Indies. This is our
steadfast commitment and dedication to quality healthcare for our community, each patient, each
transport, and each day.

Performance Requirements
As the premier non-emergency, interfacility, advanced and basic life support ambulance service
in the Virgin Islands. TCMIH will provide detailed performance parameters including on time

performance as outlined below.

Advanced and Basic Life Support

Definitions:
Pre-Schedule Requests Those requests scheduled 24 hours in advance.
Urgent Requests Same day requests that are time sensitive in nature, such as transports
to emergency room.
Non-Urgent Requests Same day requests that are not time sensitive in nature such as hospital
discharges.

HOUSE_OVERSIGHT_029478
"
TEXT-002-HOUSE_OVERSIGHT_032507.txt,"From: Thomas Jr., Landon 
Sent: 3/3/2017 4:26:03 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Masa 
Importance: High 
Seems to me he is a natural guy for you; he is going to be in Florida in March for some Trump event. I 
know some of his financial guys pretty well: I might try to facilitate something if you are not opposed. 
On Fri, Mar 3, 2017 at 11:17 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
have not met 
On Fri, Mar 3, 2017 at 9:57 AM, Thomas Jr., Landon > wrote: 
Have you met Masa yet? Seems to me he is a person you should know and you are a person he 
should know. 
https://www.nytimes.com/2o17/03/o3/business/dealbook/masayoshi-son-sprint-and-a-bet-on-
the-trump-economy.html?hp&action=click&pgtype=Homepage&clickSource=story-
heading&module=first-column-region&region=top-news&WT.nav=top-news  
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 032507 
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 032508 
"
IMAGES-009-HOUSE_OVERSIGHT_026860.txt,"diplomacy by the CPC Central Committee with Comrade Xi Jinping at the
core, and a fundamental guideline for China’s external work in the new
era...We should integrate our thoughts and actions into General Secretary
Xi Jinping’s important address and Xi Jinping thought on diplomacy, and
make new advances in China's external work.""

To an international foreign policy audience, this may all seem a little arcane. That’s because
in the internal ideological deliberations of a one party state, it is arcane. But we would be
blind not to see that there is something new at play here. It is unclear whether this means
Chinese foreign policy is likely to be more Marxist in its conceptualisation, or even its
execution? Whether it likely to be more Nationalist? Whether it will seek to more actively
promote the Chinese development model of “authoritarian capitalism” as a model for the
world, in competition with the “liberal democratic capitalism” of the West? Whether it is a
much more unformed worldview which will ultimately take shape around Xi Jinping’s as-yet-
deliberately-vague concept of “a global community of common destiny,” which is now the
subject of intense work within China’s think tank community, and with the international
academic community.

Or whether it is something more mechanistic than that altogether, involving a desire to fire
up China’s current diplomatic establishment into a more invigorated, imaginative, creative,
even forceful effort to shape the future global rules-based order more in China‘s image, rather
than China being the permanent “price -taker” for rules already determined elsewhere by
others. Particularly where elements of the existing order are seen to represent a continuing
and unwelcome challenge to the legitimacy of China’s domestic political order, for example in
areas such as the rule of law, human rights and democracy.

A NEW IDEOLOGICAL CONFIDENCE THAT HISTORY FAVOURS CHINA

There is a second element to the June 2018 Conference which grows out of the first. It is Xi’s
deeply Marxist, dialectical-materialist view of history based on permanently evolving
“contradictions” between what dialecticians call thesis, antithesis and synthesis. In Xi’s view,
this in turn gives rise to defined “laws” of historical development which are both prescriptive
and predictive.

This may sound like old-fashioned Marxism. That’s because it is. The intellectual software of
generations of Chinese leaders has been shaped by this conceptual framework for interpreting
and responding to what they define as scientific, objective reality. And Xi Jinping belongs to
that tradition. Remember he has already convened special study sessions of the politburo on
understanding both dialectical and historical materialism in the past.

According to the conference report: “Xi suggested to not only observe the current international
situation, but also review the past, summarise historical laws, and look towards the future to
better understand the trend of history.” Furthermore, according to the same report in Xinhua,
to obtain “an accurate understanding of the overall situation, Xi underlined not only the
observation of detailed phenomena, but also a deep appreciation of the essence of the overall

5 of 10

HOUSE_OVERSIGHT_026860
"
IMAGES-008-HOUSE_OVERSIGHT_025920.txt,"pe
> Sent from my iPhone

>

>> On Mar 9, 2016, at 4:47 PM, Terry Kafka iii wrote:
>>

>> On trump.

>>

>> Terry B. Kafka, President

>> Impact Outdoor Advertising Co.

>> 5454 La Sierra Dr., Suite 200

>> Dallas, TX 75231

> i es -21

>> Impactoutdoor.com

>>

>>

>> ----- Original Message-----

>> From: Brad Bowen (mil {iii i

>> Sent: Wednesday, March 09, 2016 2:16 PM

>> To: Kevin McIntosh (a >; Ryan McIntosh

>> es; A) Eckert <a Henry

>> Peck a - Terry Kafka
2 rrr—“(tiststsCSC:C:C:CS@SS

> ; Coy E. Garrett

>> Subject: FW: Gingrich view of Trump
Se

>>

>>

>> Brad Bowen
>> Partner

>> Trinity Partners Commercial Real Estate Work phone fT <1

>> phone: MM Mailing Address:

>> P.O. Box 96011

>> Southlake, TX 76092

>> Physical Address:

>> 450 N Kimball Ave

>> Suite 100

>> Southlake, TX 76092

>> www.trinitypartnerstexas.com

>> [Description: Description: Description: TRINITI PARTNER logo22]

>>

>>

>> From: Kenny Shirley [mailt [iii as |

>> Sent: Wednesday, March 09, 2016 12:11 PM

>> To: Danny Shurden; Brad Bowen;
Pe

>> Subject: Fwd: Gingrich view of Trump

>>

>>

>>

>> Sent from my iPhone

>>

>> Begin forwarded message:

HOUSE_OVERSIGHT_025920
"
IMAGES-004-HOUSE_OVERSIGHT_016871.txt,"systematically thought through everything that could possibly go wrong when putting
astronauts on top of a 110-meter rocket full of highly flammable fuel and launching them
to a place where nobody could help them—and there were lots of things that could go
wrong. Was this scaremongering? No, this was the safety engineering that ensured the
mission’s success. Similarly, we should analyze what could go wrong with AI to ensure
that it goes right.

Outlook

In summary, if our technology outpaces the wisdom with which we manage it, it can lead
to our extinction. It’s already caused the extinction of from 20 to 50 percent of all
species on Earth, by some estimates,”° and it would be ironic if we’re next in line. It
would also be pathetic, given that the opportunities offered by AGI are literally
astronomical, potentially enabling life to flourish for billions of years not only on Earth
but also throughout much of our cosmos.

Instead of squandering this opportunity through unscientific risk denial and poor
planning, let’s be ambitious! Homo sapiens is inspiringly ambitious, as reflected in
William Ernest Henley’s famous lines from /nvictus: “I am the master of my fate, / Iam
the captain of my soul.” Rather than drifting like a rudderless ship toward our own
obsolescence, let’s take on and overcome the technical and societal challenges standing
between us and a good high-tech future. What about the existential challenges related to
morality, goals, and meaning? There’s no meaning encoded in the laws of physics, so
instead of passively waiting for our Universe to give meaning to us, let’s acknowledge
and celebrate that it’s we conscious beings who give meaning to our Universe. Let’s
create our own meaning, based on something more profound than having jobs. AGI can
enable us to finally become the masters of our own destiny. Let’s make that destiny a
truly inspiring one!

°° See Elizabeth Kolbert, The Sixth Extinction: An Unnatural History (New York: Henry Holt, 2014).

68

HOUSE_OVERSIGHT_016871
"
IMAGES-001-HOUSE_OVERSIGHT_012038.txt,"1 cc, Frank (SF)
> Fisher, Alice (DC)
—_

Subject: Press: AmLaw Litigation Daily on Emirates Bank win
I'll soon send a cleaner version of this and other coverage, but wanted to share the article just posted in the

AmLaw Litigation Daily. A personal thanks to Dan for speaking to the reporter, and Nima for feeding us case
documents and insights.

http://m.litigationdaily.com/#/article/1202765052511/1/A%20Master%20at%20 Work: %20Dissecting™o20the
%20Closing™%20Argument%20in%20Latham's%20Huge™20Win20for%20Middle%20Eastern%20Bank

A Master at Work: Dissecting the Closing Argument in Latham's Huge Win for Middle Eastern Bank
Jenna Greene08/14/2016

For Latham & Watkins, defending a Middle Eastern bank accused of stealing trade secrets from a plucky
American entrepreneur could have been a tough sell to a federal jury in Orange County, California.

[http://www.law.com/image/LitDaily/DailyDicta.jpg|]The stakes were high--more than half a billion dollars in

damages--and some of the facts were, ahem, challenging.

How did Latham lawyers turn a potentially unsympathetic narrative into a unanimous win for Dubai-based
Emirates NBD Bank PJSC on Thursday?

A look at closing arguments by Latham partner Kathryn Ruemmler, who made her first in-court appearance
since she stepped down as White House counsel in 2014, is revealing in a watch-the-master-at-work kind of
way.

Along with Latham partners Daniel Schecter and Dean Dunlavey, she faced off against an equally formidable
opponent: Boies, Schiller & Flexner partner William Isaacson, who wasnamed a litigator of the
year<http://www.americanlawyer.com/id=1202745 123270/Litigator-of-the-Y ear-William-Isaacson-of-Boies-
Schiller> by The American Lawyer in 2015.

Ruemmler parachuted into the case on May 20, replacing Steven Bauer. He had another case (on behalf of
Pacific Gas & Electric<http://www.therecorder.com/id=1202764714611/Split-Verdict-in-PGE-Pipeline-Blast-
Case?slreturn=20160712215338>) going to trial at the same time and couldn’t convince U.S. District Judge
James Selna to push back the trial date, which had already been delayed several times.

This was the lay of the land: Two weeks before, the Los Angeles Times on May 8 had run a lengthy
feature<http://www.latimes.com/business/la-fi-infospan-lawsuit-20160508-story.html> that was distinctly
sympathetic to the plaintiff, Farooq Bajwa. A former computer components manufacturer/ El Pollo Loco
franchise owner, his latest venture was a company called InfoSpan Inc.

Bajwa is portrayed as a visionary who had an idea to allow foreign workers to easily and cheaply send funds
back to relatives in their home country via the internet or cell phone.

""I realized I might make a big difference in this world not only helping these underprivileged people who don't

have bank accounts, I will also be helping bring an economic revolution,"" Bajwa, 64, told the paper. ""I had
very big dreams.”

HOUSE_OVERSIGHT_012038
"
IMAGES-010-HOUSE_OVERSIGHT_030101.txt,"From: Kathy Ruemmle

Sent: 8/12/2016 12:38:13 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Press: LA Times - Federal jury decides Middle East bank did not defraud Orange County entrepreneur

Importance: — High

Yes

On Aug 12, 2016, at 7:57 AM, jeffrey E. <jeevacation@gmail.com> wrote:
Awake?

On Thursday, August 11, 2016, jeffrey E. <jeevacation@gmail.com> wrote:
Cool

On Thursday, 11 August 2016, Kathy Ruemmler <q wrote:

Begin forwarded message:

ron: [ie
Date: August 11, 2016 at 7:52:12 PM PDT
To:

_ FEFr—CC(‘s‘ééY
Subject: FW: Press: LA Times - Federal jury decides Middle East bank did not defraud Orange
County entrepreneur

From: Pizzurro, Frank (LA) {>

Date: Thursday, Aug 11, 2016, 7:41 PM

To: Dunlavey, Dean (OC) <i SS <1. 2/0:
Schecter, Danicl (CC) (i 7777777 <1: Pi i i>.
Mohebbi, Nima (LA) <i 12 i/o >>, Rucmmicr, Kathy (DC)
(<1: | >

Cc: #L&W BD PR (US) <# <mailto:#L& WBDPRUS@LW.com>>, Wine, Jamie
Se

< <i | >>, acris, Nicole (CH)

a <2 0: a >. Greenberg, Jeffrey (LA-NY)

< De <0: (0: >>. Bauer, Steve (SF-BR)
<< 00.210: >, Moore, Wendy (OC)

< ee <0. ito: >>, Jennings, Alex (LA)

< <0: (0: ee >>, Robins, Greg (LA)
ea

Subject: Press: LA Times - Federal jury decides Middle East bank did not defraud Orange County
entrepreneur

The LA Times appears to be the first media to report on the verdict. Latham references are highlighted:

HOUSE_OVERSIGHT_030101
"
IMAGES-001-HOUSE_OVERSIGHT_011519.txt,"settling the land but which, “without the steel helmet and the barrel of the gun,
will not succeed in planting a tree or building a home.”

Still, if | was part of a generation that understood the need for military
preparedness, strength and a readiness to fight if we were to survive in the
Middle East, the 1956 war also brought home to me the need to consider how
we fought. This meant grappling with a contradiction wired into Zionism from
the start: the need to take up arms to defend our state, while recognizing the
Jewish moral code that was its foundation. When the Israeli armed forces were
established in 1948, Tzahal’s doctrine included the principle of tohar haneshek
— “purity of arms” — and an explicit requirement for our soldiers to use the
minimum necessary force and do all they could to avoid civilian casualties.
Putting “purity of arms” into practice was always going to be hard. All arms
kill. In all wars, civilians die. But that did not make the principle, or the need to
be aware of it in combat, any less important.

Even if the soldier called on the make that judgment was someone who had
mentored me from the time I was six, and whose military prowess I had come to
respect. Even if it was Yigal Garber. His parachute jump on the first day of the
1956 war went smoothly. But the battle for control of the Mitla Pass turned out
to be the most deadly of the war. It was also unnecessary. Under Israel’s pre-
war choreography with the British and French, the very fact of our landing near
the Mitla Pass was to be the trigger for an Anglo-French attack. In fact, Arik
Sharon, the commander of Battalion 890, received orders from Tel Aviv not to
take the pass. Only grudgingly, did they let him send in a reconnaissance force
to establish whether it was safe to cross.

The reconnaissance company walked into a trap. Machine-gun and mortar
fire rained down from Egyptian troops dug into the caves and other natural
defensive positions above the pass. It took hours to extricate the stranded men.
Yigal’s unit fought its way in from the eastern side of the pass. A small group
from the reconnaissance force managed to get a foothold on the western side.
Almost 250 Egyptians were killed. But 38 Israeli paratroopers also died, the
largest single toll in any battle since 1948. Battered and bitter, the surviving
men from the reconnaissance force parachuted into the southernmost part of the
Sinai, near Et-Tur on the Red Sea. Yigal and the others headed overground to
join up with them. By the time they got there, Egyptian resistance had all but
ended. Yigal’s company had a brief exchange of fire with several dozen hold-
outs in the Egyptian force. The Egyptians surrendered. And then, apparently,
Yigal and his fellow paratroopers shot all of them dead.

48
HOUSE_OVERSIGHT_011519
"
IMAGES-001-HOUSE_OVERSIGHT_010607.txt,"CERTIFICATE OF SERVICE

I HEREBY CERTIFY that on November U , 2010 a copy of the foregoing has been

served via Fax and U.S. Mail to all those on the attached service list.

Jack Scarola

Searcy, Denney, Scarola, Barnhart & Shipley
2139 Palm Beach Lakes Blvd

West Palm Beach, FL 33409

By:

42

HOUSE_OVERSIGHT_010607
"
IMAGES-010-HOUSE_OVERSIGHT_028996.txt,"Pricing Model for Customers

No. of Impressions Cost
(Monthly Subscription) (USD)

0-100,000 $999
100,00 1-250,000 $1999

500,00 1-1000,000 $3500

250,00 1-500,000 $2600
1000,001-2000,000 $5000

*Impression = 1 Facebook comment or 1 Tweet

HOUSE_OVERSIGHT_028996
"
IMAGES-010-HOUSE_OVERSIGHT_029450.txt,"helped him rebut Jennifer Flowers’ irrefutable evidence of infidelity in 1992. Biden,
it is widely believed, would have trounced the Republicans in 2016. He isa

thoroughly honest and decent man with a lifelong love for his wife and children.

Let us conclude with a minor example—the arrest of Harvard Professor Louis Gates
outside his home, six months into Obama’s presidency. He did not have to comment
on this trivial event but chose to. Corporatist that he is and biased toward the upper
strata, he took Gates’ side. When there was a hue and cry he arranged a little beer
party on the White House lawn—Obama with his long legs underneath the table,
Vice President Biden opposite him, a cop wondering how in hell he got roped into
this absurd situation and “Skip” Gates happy as a clam in the ocean, all aglow as he

held forth on God Knows what.

If there was in fact a teachable moment, it was this. ALL Americans should know
that no police officer has the right to enter your home without a search warrant or
an arrest warrant. This goes way back to English common law—the King must
knock at a peasant’s door—your home is your castle. The police officer had invited
Gates outside. Gates fell for the trick and was promptly arrested. He was the fool, not
the cop. And black Americans especially should know the law where police officers

are concerned.

Obama draws a line in the sand against Syrian bombings, they cross the line, Obama
does nothing. Obama offends Michelle and she promptly puts him through three

degrees of hell as he well deserved. And so on.

Finally, | have been dismayed by all the photos I have seen of him since he left office—
a big grin while swimming in the ocean, taking a picture of Michelle—at a safe
distance—on a super yacht and grinning ear to ear while talking to Prince Harry. He
is so happy to be freed from the burdens of the Presidency while enjoying all the
perks. May God forgive him. But he did have it all. | used to joke in the 2008

HOUSE_OVERSIGHT_029450
"
IMAGES-009-HOUSE_OVERSIGHT_026848.txt,"Lawrence H. Summers, 79 JFK Street #8, Cambridge, MA 02138
SafeUnsubscribe™ P

Forward this email | Update Profile | About our service provider

Sent by i 0 collaboration with

——

Try it free today

HOUSE_OVERSIGHT_026848
"
IMAGES-004-HOUSE_OVERSIGHT_016681.txt,"ull

Page 1 of 8

EXECUTIVE SUMMARY
Recent Drinking Water Testing Completed and the Results

The City of West Palm Beach (City) treats surface waters at their downtown facility and
produces drinking water for the residents of West Palm Beach. Residents of the Town of Palm
Beach (Town) receive potable water from the City through a franchise agreement that expires
in the year 2029. Due, in part, to the highly publicized "" precautionary boil water"" notice issued
by the City in September of 2007, concerns arose regarding the overall safety of the drinking
water supply being provided to the Town. Accordingly, HSA Engineers and Scientists was
asked to collect and analyze additional samples from the water supply. These additional
samples were collected by HSA personnel on November 14, 2008 and were submitted to a
laboratory independent of the ones used by the City for their routine drinking water testing
requirements mandated by the U.S. Environmental Protection Agency (USEPA) and the Florida
Department of Environmental Protection (FDEP). There are more than 90 testing parameters
that are required to be analyzed on drinking water supplies by the USEPA and the FDEP. HSA
collected samples and tested for all of these drinking water parameters and the detailed results
are supplied in the enclosed tabular summary.

Also as shown in the attached detailed summary table, all of the testing results obtained from
our recent sampling passed and all constituents were well below the allowable limits
established by State and Federal regulations.

What are Trihalomethanes (THMs) and Why Did We Receive a Notice That They Were
Elevated?

During the precautionary boil water notice that occurred during the latter part of 2007, the City
added more chlorine to their finished drinking water to ensure adequate bacterial kill. Chlorine
reacts with natural organics (that cause variations in the water’s color) producing a group of
compounds called Trihalomethanes (THMs). Up to a point, the higher the chlorine dose added,
the higher the THM concentrations produced. The USEPA has established a limit of 80 parts
per billion (ppb) for drinking water supplies. In a few samples collected by the City during the
‘boil water notice’ time period, elevated THM test results were obtained due to the additional
chlorine in the drinking water. This represented a one-time spike in THM results and the
current level is well below the 80 parts per billion limit. During the special testing completed by
HSA, the THM level was measured at slightly more than 50 parts per billion, well below the
acceptable limit set by the regulators.

HOUSE_OVERSIGHT_016681
"
IMAGES-008-HOUSE_OVERSIGHT_025908.txt,"From: Kathy Ruemmler | as |

Sent: 2/27/2016 7:20:42 PM
To: Jeffrey [jeevacation@gmail.com]
Subject: Fwd: Follow up

Importance: — High
Unsatisfactory

Sent from my iPhone

Begin forwarded message:
From: ""Immelt, Stephen J."" <
Date: February 27, 2016 at 10:30:17 AM MST

To: ""Kathy Ruemmler™ <
Subject: RE: Follow up

Kathy

We will of course do this in whatever sequence makes sense for you. It goes without saying that any move
would need to make economic sense. My assumption has been that your comp would fall outside of our ""bell
curve"", but that is not an issue for us as long as the potential contribution also falls outside. You would not be
the only partner outside the curve, and I am comfortable with expanding that group for people who can

genuinely move the needle while embracing the culture that makes us who we are.

One benefit of having Michael in the mix is that he can provide a global perspective, and he would be important

for explaining the case outside the US if we moved forward.

Just let me know when and how you want to speak next.
Best,

Steve

Stephen Immelt

Partner and CEO

Hogan Lovells US LLP - Washington, DC office
Columbia Square

555 Thirteenth Street, NW

Washington, DC 20004

Tel:

Direct:

Fax,

—-

www.hoganlovells.com

Hogan Lovells International LLP - London office

HOUSE_OVERSIGHT_025908
"
IMAGES-011-HOUSE_OVERSIGHT_031656.txt,"From: jeffrey E. [jeevacation@gmail.com]
Sent: 11/27/2016 5:54:15 PM

To: Kensington?

Importance: — High

I will not come this week, too many trump issues. . anything new. exciting.

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

has mr kiss come to reality?

HOUSE_OVERSIGHT_031656
"
IMAGES-009-HOUSE_OVERSIGHT_026690.txt,"Fig 6. Change in past year allocations by asset class (% citations) i Decrease
@ Stay the same
Mi Increase

Global equity
2013

2014

2015

2016

2017

Home market equity
2013

2014

2015

2016

2017

Global bond
2013

2014

2015

2016

2017

Home market bond
2013

2014

2015

2016

2017

Sample is based on sovereign investors and excludes central banks.
Sample: 2013=22, 2014=36, 2015=33, 2016=44, 2017=60.

10

HOUSE_OVERSIGHT_026690
"
IMAGES-007-HOUSE_OVERSIGHT_022944.txt,"From: jeffrey E. [jeevacation@gmail.com]
Sent: 11/7/2017 10:42:23 AM

To: Landon Thorns

Importance: — High

http://people.com/movies/harvey-weinstein-hired-intelligence-agencies-to-spy-on-accusers-rose-

megowan/ the same boies that represents J. = who makes totally fabricated claims re gore and
clinton - boies clients. he refuses to ask them their version of events. They were never on the island and
though she gave details of a dinnner. I have never ever met al gore or his wife.

boies is going to be in the firiing line. from the biz view he represented Hank Greenburg AIG, , his fees
were never paid as the appeals court overturned the win. but AIG as an insurance co. --_ ... phone only

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_022944
"
IMAGES-001-HOUSE_OVERSIGHT_012010.txt,"I
Yver Soin’ towel! Chenel Caristian Cicer, Gucc) *rade. and Mare
JQcobys.

in additon fo Mr. Jean Lue Brunel's extarsive busness Qadolifications, ht
Coraer os on indmduol with artishe vision ang creative taignis has helped
him find top fasnion modek ta rep'esen! In fhe Urated Sto!

Should you have ony questions obou’ Mr Jear Luc Baené! qualilicchons
feel free to contact me.

Lint wy pts 1

fv’

Claudt- Midelo = ;
Presi’? ! 28S) 73 409

Modelwerk Medelagentur Osuisl

HOUSE_OVERSIGHT_012010
"
IMAGES-004-HOUSE_OVERSIGHT_016859.txt,"THE UNITY OF INTELLIGENCE
Frank Wilczek

Frank Wilczek is Herman Feshbach Professor of Physics at MIT, recipient of the 2004
Nobel Prize in physics, and the author of A Beautiful Question: Finding Nature’s Deep
Design.

I. A Simple Answer to Contentious Questions:

e Can an artificial intelligence be conscious?

e Can an artificial intelligence be creative?

e Can an artificial intelligence be evil?
Those questions are often posed today, both in popular media and in scientifically
informed debates. But the discussions never seem to converge. Here I’ll begin by
answering them as follows:

Based on physiological psychology, neurobiology, and physics, it would be very
surprising if the answers were not Yes, Yes, and Yes. The reason is simple, yet
profound: Evidence from those fields makes it overwhelmingly likely that there is no
sharp divide between natural and artificial intelligence.

In his 1994 book of that title, the renowned biologist Francis Crick proposed an
“astonishing hypothesis”: that mind emerges from matter. He famously claimed that
mind, in all its aspects, 1s “no more than the behavior of a vast assembly of nerve cells
and their associated molecules.”

The “astonishing hypothesis” is in fact the foundation of modern neuroscience.
People try to understand how minds work by understanding how brains function; and
they try to understand how brains function by studying how information is encoded in
electrical and chemical signals, transformed by physical processes, and used to control
behavior. In that scientific endeavor, they make no allowance for extraphysical behavior.
So far, in thousands of exquisite experiments, that strategy has never failed. It has never
proved necessary to allow for the influence of consciousness or creativity unmoored from
brain activity to explain any observed fact of psychophysics or neurobiology. No one has
ever stumbled upon a power of mind which is separate from conventional physical events
in biological organisms. While there are many things we do not understand about brains,
and about minds, the “astonishing hypothesis” has held intact.

If we broaden our view beyond neurobiology to consider the whole range of
scientific experimentation, the case becomes still more compelling. In modern physics,
the foci of interest are often extremely delicate phenomena. To investigate them,
experimenters must take many precautions against contamination by “noise.” They often
find it necessary to construct elaborate shielding against stray electric and magnetic
fields; to compensate for tiny vibrations due to micro-earthquakes or passing cars; to
work at extremely low temperatures and in high vacuum, and so forth. But there’s a
notable exception: They have never found it necessary to make allowances for what
people nearby (or, for that matter, far away) are thinking. No “thought waves,” separate
from known physical processes yet capable of influencing physical events, seem to exist.

That conclusion, taken at face value, erases the distinction between natural and
artificial intelligence. It implies that if we were to duplicate, or accurately simulate, the
physical processes occurring in a brain—as, in principle, we can—and wire up its input

56

HOUSE_OVERSIGHT_016859
"
IMAGES-006-HOUSE_OVERSIGHT_021804.txt,"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?”

Copyright 2006 The New York Times Company

New York Times — 06/30/08

Financier Starts Sentence in Prostitution Case -NYTimes.com Page 1| of 4 ge 1 of 4
July 1, 2008

Financier Starts Sentence in Prostitution Case

By LANDON THOMAS Jr.

The bad news arrived by phone last week on Little St. James Island, the palm-fringed
Xanadu in the Caribbean where Jeffrey E. Epstein, adviser to billionaires, lives in
secluded splendor.

Report to the Palm Beach County jail, the caller, Mr. Epstein’s lawyer, said.

So over the weekend Mr. Epstein quit his pleasure dome, with its staff of 70 and its
flamingo-stocked lagoon, and flew to Florida. On Monday morning, he turned himself in
and began serving 18 months for soliciting prostitution.

“T respect the legal process,” Mr. Epstein, 55, said by phone as he prepared to leave his
<p al

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.

HOUSE_OVERSIGHT_021804
"
IMAGES-007-HOUSE_OVERSIGHT_023482.txt,"2D

The part of social change that is the hardest to understand in a
positivistic way is the moral dimension—that is, the ideas that people
carry around in their heads regarding legitimacy, justice, dignity and
community. The current Arab uprising was triggered by the self-
immolation of an overeducated 26-year-old Tunisian vegetable seller
whose cart was repeatedly confiscated by the authorities. After
Mohamed Bouazizi was slapped by a policewoman when he tried to
complain, he reached the end of his tether. Bouazizi’s public suicide
turned into a social movement because contemporary
communications technologies facilitated the growth of a new social
space where middle-class people could recognize and organize
around their common interests. We will probably never understand,
even in retrospect, why the dry tinder of outraged dignity suddenly
ignited in this fashion in December 2010 as opposed to 2009, or ten
years before that, and why the conflagration spread to some Arab
countries but not to others. But we can certainly do a better job in
putting together the few pieces we do understand, in a way that would
be useful to policymakers coping with the reality of social change.

1 Huntington, Political Order in Changing Societies: With a New Forward by Francis Fukuyama (Yale
University Press, 2006).

2Davies, “Towards a Theory of Revolution”, American Sociological Review, Vol. 27 (1962).

3Zakaria, The Future of Freedom: IIliberal Democracy at Home and Abroad (W. W. Norton, 2003); see
also Zakaria, “A Conversation with Lee Kuan Yew”, Foreign Affairs (March/April 1994).

4For a description of the Wolfenson presidency, see Sebastian Mallaby, The World’s Banker: A Story of
Failed States, Financial Crises, and the Wealth and Poverty of Nations (Penguin Press, 2004).

5See Harold James’s retroview, entitled “Growing Pains”, of a classic December 1963 essay by Mancur
Olson (“Rapid Growth as a Destabilizing Force”) in The American Interest (September/October 2006).

HOUSE_OVERSIGHT_023482
"
IMAGES-012-HOUSE_OVERSIGHT_032859.txt,"In a lawyer's letter, I'd suggest including the following points--not necessarily legal, but a warning about how a
press campaign might unfold (publishers are more worried about being caught in negative media controversy
than they are of legal threats):

1) Little, Brown has made on the record representations to at least one well-known journalist that it was not
publishing a book by James Patterson about Jeffrey Epstein--possibly an effort to avoid inquiries about the
questionable nature of the book;

2) The actual author of the book, John Connolly, is someone other than the stated author, James Patterson.
Connolly is known to have developed an obsession with Epstein, such that, his longtime employer, Vanity
Fair, has refused to allow him to write about Epstein for the magazine;

3) Sources have confirmed for us that Patterson has had little more than a minimal consulting role in the book,
and that Connolly has functioned in every material way as the book's researcher and writer. We believe
Patterson's ""authorship"" of the book will not stand up to scrutiny. And, indeed, that the entire notion of an
extension of the Patterson franchise into nonfiction, as it has been used in fiction and children's book--
effectively other authors writing under the Patterson name—presents a host of journalism ethical issues.

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_032859
"
IMAGES-011-HOUSE_OVERSIGHT_031130.txt,"From: Faith Kates li

Sent: 8/14/2012 1:05:43 PM

To: Faith Kates

Subject: Fwd: Public work vs private AMAZING

> This is crazy please read it and pass it on!!!
>

>

> Sent from my iPhone

>

> Begin forwarded message:

>

>

>

> From: John Connolly Ed.D.

> Date: August 4, 2012 3:54:25 PM GMT+02:00
> To: RALPH BERNSTEIN <i Morad Tahbaz “Joseph Bernstein

Subject: Fw: Public work vs private AMAZING

John J. Connolly, Ed.D.
President & CEO

Castle Connolly Medical Ltd.
42 w. 24th St.

New York, NY 10010

www. castleconnolly.com

From: ed thompson [mailto:

Sent: Friday, August 03, 2012 6:03 PM

To: ;

Subject: Fw: Public work vs private AMAZING

VVVVVVVVVVVVVVVVV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV VV

HOUSE_OVERSIGHT_031130
"
IMAGES-012-HOUSE_OVERSIGHT_032681.txt,"From: Stephen Hanson

Sent: 12/24/2017 2:21:03 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: You around today

Importance: — High
FYI. Need to go long way. Trump
Sent from my iPad

On Dec 24, 2017, at 9:02 AM, jeffrey E. <jeevacation@gmail.com> wrote:

yes now?

On Sun, Dec 24, 2017 at 8:44 AM, Shanson900 {ne wrote:

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_032681
"
IMAGES-003-HOUSE_OVERSIGHT_015830.txt,"140 Are the Androids Dreaming Yet?

Now spelling does knot phase me,
It does knot bring a tier.

My pay purrs awl due glad den
With wrapped word’s fare as hear.

Too rite with care is quite a feet

Of witch won should bee proud,

And wee mussed dew the best wee can,
Sew flaw’s are knot aloud.

Sow ewe can sea why aye dew prays
Such soft wear four pea seas,

And why eye brake in two averse
Buy righting want too pleas.

The Search for Knowledge

I hope this explanation shows you the simplest model for creativity -—
working through every possibility, and examining them all — is doomed
to failure. It would take longer than until the end of time to even list all
the options, let alone analyze them.

You might wonder just how long it is until the end of time? It’s
generally assumed there are two possible ends to the Universe, a Big
Crunch or heat death. Either way the approximate estimate is our
Universe will last somewhere between one and fifty times longer than
it has lasted so far. That’s a long time, at least another 15 billion years,
but just generating War and Peace would take 5000 orders of magnitude
longer than this!

More complex models such as a three-step process have been
suggested. We could perhaps randomly create information and put
it through a mechanical filter to bring it down to a manageable set of
options and then give it to an appreciation algorithm to finally decide
whether we have created something. The real problem with this model is
the filters. If we try to reduce the effort by assembling works only from
pre-existing words, we will have filtered away many works we know and
love. Gone are Shakespeare, Lewis Carroll, Dylan Thomas and Roald
Dahl, shall I go on? Indeed, once upon a time there were no words, every
word was coined at some point. The process of creating art is continually
creative and mechanical filters can't be applied to things they have not
seen before.

HOUSE_OVERSIGHT_015830
"
IMAGES-010-HOUSE_OVERSIGHT_029336.txt,"From: Richard Kah

Sent: 3/25/2013 7:47:22 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: google search

Importance: — High

Just did a jee google and thought it looked very good...

Search Results

1. Jeffrey Epstein - Wikipedia, the free encyclopedia

en.wikipedia.org/wiki/Jeffrey Epstein

Jeffrey Edward Epstein (born January 20, 1953) is an American financier and science and education
philanthropist. He is responsible for founding The Program ...

Life - Financial career - Science funding - Solicitation of prostitution

2. Jeffrey Epstein: International Moneyman of Myster

nymag.com/nymetro/news/people/n_7912/
He's pals with a passel of Nobel Prize—winning scientists, CEOs like Leslie Wexner of the Limited, socialite
Ghislaine Maxwell, even Donald Trump. But it wasn't ...

3. Billionaire Jeffrey Epstein: I'm a sex offender, not a predator ...

www.nypost.com/.../perv_don_shmear_me_GzYVOfJYoWleFsSTrQ...
Feb 25, 2011 — Billionaire pervert Jeffrey Epstein is back in New York City -- and making wisecracks about his
Just-ended jail stint for having sex with an...

4. JEFFREY EPSTEIN V1 FOUNDATION: Home
www jeffreyepsteinfoundation.com/

Jeffrey Epstein, Holds a Conference of Nobel Laureates to Define Gravity ... The conference was financed by
science philanthropist Jeffrey Epstein and his ...

5. Jeffrey Epstein

www.huffingtonpost.com/news/jeffrey-epstein

Disgraced billionaire money manager (and former Bill Clinton associate) Jeffrey Epstein is back in New York
City after 13 months of jail time for soli.

6. Jeffrey Epstein Science

www .jeffreyepsteinscience.com/
An overview of Jeffrey Epstein Science and the Jeffrey Epstein V1 Foundation, the universities and the
scientists that have received support.

7. The Jeffrey Epstein VI Foundation

www .jeffreyepsteinusvi.com/
Recent articles on Jeffrey Epstein USVI philanthropy from New York and the USVI.

8. Jeff Epstein profiles | LinkedIn

www.linkedin.com/pub/dir/Jeff/Epstein
View the profiles of professionals named Jeff Epstein on LinkedIn. There are 25 professionals named Jeff

Epstein, who use LinkedIn to exchange information, ...

HOUSE_OVERSIGHT_029336
"
IMAGES-011-HOUSE_OVERSIGHT_032439.txt,"From: Alireza Ittihadich =

Sent: 1/15/2017 2:27:28 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
Good V's are trading between $10-13.0M

V-BR
Alireza ITTIHADIEH

From: jeffrey E.

Sent: Sunday, 15 January 2017 06:21
To: Alireza Ittihadieh

Subject: Re:

and 5 s?

On Sun, Jan 15, 2017 at 10:20 AM, Alireza Ittihadich qq wrote:

| just got my G550 - 5176 under contract at $18.5 and it's going to Pre-Purchase inspection on Monday.
I'm aware that G550 - 5109 was under contract for $17,600,000.

As a company we have 5 G550, 2 G650 and 1 BBJ buyers.

That is all | know for now.

V-BR
Alireza ITTIHADIEH

From: jeffrey E.

Sent: Sunday, 15 January 2017 05:51
To: Alireza Ittihadieh

Subject: Re:

what about real trades? what number?
On Sun, Jan 15, 2017 at 9:49 AM, Alireza Ittihadich i wrote:

People are just back and the activity really started this week. A lot of enquiries out of China and a lot of
buyers in the US have resurfaced

V-BR
Alireza ITTIHADIEH

On 15 Jan 2017, at 04:17, jeffrey E. <jeevacation@gmail.com> wrote:

what is trading , now that trump has won. ?

please note

HOUSE_OVERSIGHT_032439
"
IMAGES-005-HOUSE_OVERSIGHT_018583.txt,"I wrote back:

I think it's adorable that you told me the vow thing by text- & on a serious note, I rather
admire you for challenging yourself & social expectations of masculinity. I can't afford
exegesis of my sexual history by text; we can talk about it when you visit- which I hope
you do, even if you insist on sleeping on the floor. I promise not to push you- though I
confess I'm curious about the vow's limits. But I also understand if you don't feel
comfortable coming down.

His relief, in our next few exchanges, was palpable. I think a man who wants to abstain
has a far trickier journey ahead of him than a woman: America's sexual assumptions may
be formed around stereotypical male sexuality -- which really sucks for women -- but it's
a very narrow stereotype that limits men too. Men are expected to be insatiable, and
preferring not to have sex casts a man's entire masculinity into question. His abstinence
can cause anxiety for the female partner, too: after all, given an assumption that men are
nigh-indiscriminate sex machines, a woman might feel that there's something terribly
wrong with her if a man won't bang her.

Mr. Chastity has dealt with those problems a lot, so my careful reaction and evident lack
of anxiety won me lots of points. Since then, I've met up with him publicly twice, and
we've even managed to make out! He's still going to visit. Maybe I can convince him to
sleep in bed, as long as I promise not to put the moves on him.

And maybe, just maybe, his vow allows him to practice BDSM... a girl can dream, right?
But seriously, if we can do BDSM together, then I just might be his dream partner. I'd be
happy to focus our sexual time on BDSM and foreplay, and to ignore ""actual"" sex
indefinitely. Plus, some people argue that declining to sate ourselves sexually is the best
tactic for prolonging romantic magic. So this could be the way for Mr. Chastity to
become the love of my life.

TK OK ok

In Africa, the mantra for HIV educators is ABC: the three things that protect against HIV/
AIDS are Abstinence, Being faithful, and Condom usage. But my job is much more
complicated than passing out condoms and wagging my finger. The problem isn't so
much that people don't know how to avoid HIV, although myths and misconceptions do
exist. The problem is that people don't seem willing to change their behavior in order to
protect themselves... or that they don't feel they have the power to change their behavior.

People can't just know about condoms -- they must prioritize condom usage despite
drawbacks like loss of pleasure or pressure from their partners. People can't just know
that HIV is sexually transmitted -- they must be psychologically open to abstaining from
sex despite drawbacks that are, well, obvious. HIV prevention in Africa is less about
sharing knowledge, now, and more about marketing: giving people a new perspective on
sex, their health, and their futures.

Of course, I'm totally psyched about marketing some of these social aspects, like gender
equality. (Gender equality is an HIV/AIDS issue for lots of reasons -- the most obvious
being that the less power women have, the less they control their own sexual acts.) But
others give me pause. Abstinence? Seriously? It sticks in my craw. Obviously, I don't

HOUSE_OVERSIGHT_018583
"
TEXT-002-HOUSE_OVERSIGHT_033157.txt,"From: 
Sent: 1/21/2014 10:51:27 PM 
To: jeeyacation@gmail.com 
Subject: Fwd: Why Palm Beach, Florida Is The 'New Greenwich' For Wall Streeters 
Attachments: Business_Insider.jpg; dujour.jpg; padddleboard-florida-beach-2.jpg 
Importance: High 
-----Original Message----- 
From: BRYAN SUBOTNICK 
To: ; Subotnick Stuart ; Prosperi Paul 
Sent: Tue, Jan 21, 2014 4:35 pm 
Subject: Why Palm Beach, Florida Is The 'New Greenwich' For Wall Streeters 
BUSINESS 
INSIDER 
FINANCE 
Why Palm Beach, Florida Is The 
'New Greenwich' For Wall Streeters 
R 
JACQUELINE DETWILER, DUJOUR 
JAN. 21, 2014, 1:18 F"" 
HOUSE OVERSIGHT 033157 
Neilson Barnard/Getty Images 
The Palm Beach finance crowd can paddleboard whenever they please. 
Behind a semicircular brick drive and a lawn as manicured as a putting 
green sits a 30,000-square-foot masterpiece of Italian Renaissance 
architecture called Casa Nana. 
John Porter, a real estate associate for Corcoran who oversees some of the 
largest sales in Palm Beach County, Florida, points out the spiral staircase, 
built by famed 19205 architect Addison Mizner for the founder of the 
National Tea Company. ""This home went for $30.2 million in 2003; today 
that sum wouldn't be in the top 25 highest prices"" of houses for sale in this 
area, Porter says. ""Palm Beach real estate has gone from nothing going on to 
nothing left to sell."" 
Porter is giving me a tour of the so-called Billionaire's Row, a stretch of 
South Ocean Boulevard on the island of Palm Beach that is bordered by 
some of the highest hedges I've ever seen. Through gaps in the greenery 
appear stone fountains, elephant statues, pools the size of tennis complexes 
(next to actual tennis complexes), and more clay roofs than one could count. 
It's a monumental display of wealth, and it is rapidly expanding, not just 
here but in Delray Beach, Jupiter, Palm Beach Gardens and Boca Raton, as 
HOUSE OVERSIGHT 033158 
money pours out of the Northeast (and in some cases, from as far as London 
and Singapore) and into this already wealthy section of southeast Florida. 
Approximately 70 hedge and private equity funds are now headquartered 
here, many of which have set up shop in the last two years, jacking up home 
prices and spurring a countywide initiative to become, as some have said, 
""the new Greenwich."" 
For hedge fund managers who might normally be inclined toward 
Westchester or Connecticut, the allure of South Florida is as plain as grits 
on toast. The homes are sprawling; the Intracoastal Waterway is a yachter's 
paradise. It has a glittering social scene. During high season—October 
through March—there might be several fundraisers on any given night. 
Perhaps the key factor, however: In Florida, there are no individual income 
taxes, no estate taxes and no capital gains taxes. A hedge fund manager 
reporting $1 million in income can expect to pay only the federal 
government, whereas his counterpart living in Connecticut pays that plus an 
extra $67,000. And if the poor schmuck were still in New York City? He'd 
better be ready to fork over $104,300. 
As for why all of this is happening now, when Florida has long been a sunny 
tax haven, so to speak, financiers point to the upcoming application of 
Section 457A of the Internal Revenue Code. Before 457A was enacted, 
certain fees and related earnings could grow tax deferred in offshore 
accounts for up to ten years. But now, according to the section, hedge fund 
managers will need to funnel all of the fees that were deferred before 2009 
and their related earnings back into the U.S. by 2017. If a manager lives in 
Florida when this happens, he's much less likely to pay exorbitant state 
taxes on the whole amount. If he still lived in New York City? 
Fuggedaboudit. 
It's the job of Kelly Smallridge, president and CEO of the Palm Beach 
Business Development Board, to ensure that hedge fund and private equity 
managers are informed of these benefits, in the hopes that they, and their 
firms, will become Palm Beach County's newest residents. She's developed a 
red-carpet tour that goes beyond looking at office space and real estate to 
include meeting headmasters at private schools, the school-district 
superintendent and the mayor and speaking with the governor's staff and 
CEOs who have moved their operations here. Plus, of course, a few nights 
on the town. 
HOUSE OVERSIGHT 033159 
In the winter, when the well-to-do from all over the Northeast visit Florida 
for charity balls, the board hosts dinners and parties for prospective 
relocators and local captains of industry. Last year, Smallridge and 
company sponsored a soiree aboard a $70 million yacht that featured Veuve 
Clicquot, caviar and live jazz. Guests—who included the CEOs of a national 
IT company, a major finance company and a land developer, venture 
capitalists, hedge fund managers and the creator of Goldman Sachs' prime 
brokerage division—took private tours with the captain of the yacht. 
Smallridge is also working with former hedge fund CIO Dr. Rainford Knight 
to develop a club for local investment managers called SocialAlpha that 
encourages bankers in Palm Beach County's ritzy social scene to get to know 
each other. Even Florida governor Rick Scott has gotten involved, sending 
personal letters to friends and prospects from the Northeast (the governor is 
a former Greenwich resident and businessman) to convince them of 
Florida's merits. 
Smallridge and Governor Scott are hoping to induce a snowball effect, and 
so far, it seems to be working. Every financier who moves south chips away 
at the primary reason to remain near New York City—the fact that everyone 
else is there. That's not to say it's been easy. Florida is still Florida, and 
popular opinion has not been kind. Even Palm Beach, which has for the 
most part dodged the insults hurled at the rest of the state, is known for its 
residents' apocalyptically bad driving and worse Hawaiian shirts. 
""There was a fair amount of trepidation,"" says Al Rabil III, managing 
partner and CEO of Kayne Anderson Real Estate Advisors, who made the 
move from Armonk, New York, with 20 coworkers this summer. ""But once 
everybody got past the stereotypes and actually came and looked, that 
changed."" He says most of his employees weren't looking for bottle service 
and models anyway. The majority of those who have reached the upper 
echelons of financial management are married with children, and the appeal 
of a semi-tropical paradise with luxury restaurants, year-round recreation, 
and sophisticated socializing in a community far more tight-knit than 
Manhattan (yes, that'sDonald Trump over there) is not lost on them. 
Porter's tour of Billionaire's Row was part of a modified version of one of 
the Business Development Board's red-carpet tours that I took as part of 
researching this story. I ate breakfast at the clubby Top of the Point 
restaurant with some of the area's prominent financiers. A waiter in a 
captain's outfit served lobster rolls while a CPA, a lawyer and the executive 
HOUSE OVERSIGHT 033160 
director of the Palm Beach County Education Commission touted the area's 
benefits. I surveyed real estate and office space surrounded by miles of 
water without once having my foot stepped on by a tourist. You can see how 
all this might sway someone who's on the fence. 
Exploring the sugary beaches of South Florida, one starts to wonder why 
Wall Streeters would be on the fence at all. Between the smiling locals and 
the shopping on Worth Avenue, the Hiaasen-esque stereotypes recede. 
What remains are the facts: Take-home pay is higher, commutes are 
shorter, and it's just as fabulous as Manhattan, at least for four months of 
the year. Meanwhile, no one in Florida even owns an ice scraper. With the 
Internet allowing more and more money managers to perform their work 
from nearly anywhere, there are few reasons not to make the move. 
""Initially, it was a way to play golf and keep the wife and kids happy,"" says 
Brett Langbert, managing director and head of sales at I.A. Englander & Co. 
""But once we moved down, it became a quality-of-life issue. There are 
unlimited things the kids can do outside. I have to tell you, my wife and I 
are so happy we haven't had to go to one of those indoor bouncy-castle 
places since we got here."" 
HOUSE OVERSIGHT 033161 
"
IMAGES-002-HOUSE_OVERSIGHT_013808.txt,"A for Automation puts cash flow on autopilot using geographic arbitrage, outsourcing, and rules of
nondecision. From bracketing to the routines of ultrasuccessful NR, it’s all here. This section provides
the second ingredient of luxury lifestyle design: income.

L for Liberation is the mobile manifesto for the globally inclined. The concept of mini-retirements is
introduced, as are the means for flawless remote control and escaping the boss. Liberation is not about
cheap travel; it is about forever breaking the bonds that confine you to a single location. This section
delivers the third and final ingredient for luxury lifestyle design: mobility.

I should note that most bosses are less than pleased if you spend one hour in the office each day, and
employees should therefore read the steps in the entrepreneurially minded DEAL order but implement
them as DELA. If you decide to remain in your current job, it is necessary to create freedom of location
before you cut your work hours by 80%. Even if you have never considered becoming an entrepreneur in
the modern sense, the DEAL process will turn you into an entrepreneur in the purer sense as first coined
by French economist J. B. Say in 1800—one who shifts economic resources out of an area of lower and
into an area of higher yield.

Last but not least, much of what I recommend will seem impossible and even offensive to basic
common sense—I expect that. Resolve now to test the concepts as an exercise in lateral thinking. If you
try it, you'll see just how deep the rabbit hole goes, and you won’t ever go back.

Take a deep breath and let me show you my world. And remember—tranquilo. It’s time to have fun
and let the rest follow.

TIM FERRISS

Tokyo, Japan
September 29, 2006

1. Uncommon terms are defined throughout this book as concepts are introduced. If something is
unclear or you need a quick reference, please visit www.fourhourblog.com for an extensive glossary
and other resources.

> CHRONOLOGY OF A PATHOLOGY

An expert is a person who has made all the mistakes that can be made in a very narrow field.
—NIELS BOHR, Danish physicist and Nobel Prize winner

Ordinarily he was insane, but he had lucid moments when he was merely stupid.
— HEINRICH HEINE, German critic and poet

HOUSE_OVERSIGHT_013808
"
IMAGES-005-HOUSE_OVERSIGHT_019845.txt,"From: Kathy Ruemm|er | |

Sent: 3/13/2017 2:45:19 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: When It Comes to Wall Street, Preet Bharara Is No Hero - ProPublica

Importance: — High

https://www.propublica.org/article/when-it-comes-to-wall-street-preet-bharara-is-no-hero

When It Comes to Wall Street, Preet Bharara Is No
Hero

The prominent U.S. attorney fired by Donald Trump this weekend has
been justly acclaimed for his pursuit of political corruption. But his
treatment of the Wall Street executives involved in the financial meltdown
was far less confrontational.

by Jesse Eisinger
ProPublica, March 12, 2017, 6:22 p.m.

1 Comment Print Print
search Follow ProPublica

reet Bharara, then U.S. attorney for the Southern District of New York, at Trump
Tower in November 2016 (Drew Angerer/Getty Images)

After his election in 1968, President Richard Nixon asked Robert Morgenthau, the US
Attorney for the Southern District of New York, to resign. Morgenthau refused to leave
voluntarily, saying it degraded the office to treat it as a patronage position.

Nixon’s move precipitated a political crisis. The president named a replacement. Powerful
politicians lined up to support Morgenthau. Morgenthau had taken on mobsters and power
brokers. He had repeatedly prosecuted Roy Cohn, the sleazy New York lawyer who had
been Senator Joe McCarthy’s right-hand man. (One of Cohn’s clients and protégés was a
young New York City real estate developer named Donald Trump.) When Cohn complained
that Morgenthau had a vendetta against him, Morgenthau replied, ““A man is not immune
from prosecution merely because a United States Attorney happens not to like him.”

Morgenthau carried that confrontational attitude to the world of business. He pioneered the
Southern District’s approach to corporate crime. When his prosecutors took on corporate

HOUSE_OVERSIGHT_019845
"
TEXT-001-HOUSE_OVERSIGHT_026090.txt,"From: 
Sent: 5/15/2017 2:05:53 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
dubai is great i1i4 
Sent from my iPhone 
On May 15, 2017, at 1:37 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
'Eggs. 
http://www.jpost.com/Opinion/Candidly-Speaking-Lauder-promoting-Abbas-as-moderate-is-fraught-with-
danger-490630 he just left my house when you arrived, he is the key for you, I understand Dubai 
On Sun, May 14, 2017 at 11:38 PM, > wrote: 
a good word about the Amir's effort to host the yemen peace talk will be great, i think.. and if peace agreement 
was signed in kuwait that would be 414141414141e 
Sent from my iPhone 
On May 15, 2017, at 12:20 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
what would your emir like to see happen from the US ? concrete please. yemen will be part of a saudi 
meeting. they said they will have someone pass by my house tom afternoon, email you after. how much 
fun 
On Sun, May 14, 2017 at 10:27 PM, < > wrote: 
very well many thnx and here is a refrence: 
KUNA : Yemeni FM: We are ready to go back to peace talks - Politics - 05/05/2017 
BRUSSELS, May 5 (KUNA) -- Yemeni Foreign Minister Abdulmalik Al-Makhlafi said Friday that the 
Yemeni government is adhering to the peace process and is ready to go back to the table to bring peace to 
Yemen as soon as possible and to save the people from more suffering. 
""But the positive position of the government does not get any response by the revolutionaries who are still 
refusing the demands for peace or to accept any international peace efforts,"" he told the Kuwait news agency, 
KUNA, in an exclusive interview at the end of his visit to Brussels. 
Al-Mekhlafi said they went ""to our brotherly country Kuwait"" which hosted the meeting for four months last 
year. ""After the consultations the UN envoy presented the draft agreement and we signed it but the other side 
did not sign it,"" he noted. 
""But after we left Kuwait and till now the revolutionaries did not undertake any steps proposed by the UN 
envoy, Ismail Ould Cheikh Ahmed. We regret that peace is on hold due the desire of the revolutionaries to 
continue the war,"" he said. 
Al Makhlafi said that the government would continue to call for peace and hopes that the international 
pressures and defeats that the revolutionaries have suffered until now will make them respond to the peace 
efforts. 
""We were hoping to return again to Kuwait for the talks and our Kuwaiti brothers welcomed the return of the 
two delegation in Kuwait in order to sign the agreement,"" he noted. 
HOUSE OVERSIGHT 026090 
The Yemeni foreign minister expressed his deep appreciation and thanks to HH the Amir Sheikh Sabah Al-
Ahmad Al-Jaber Al-Sabah, to the Kuwait government and to HE the first deputy prime minister and foreign 
minister Sheikh Sabah Khaled al-Sabah who exerted great efforts during the Kuwait meetings. 
""We look forward to return to Kuwait, and our brothers in Kuwait are rightly saying that we will welcome 
you if you sign the agreement and not to waste time. But it appears that the revolutionaries are not ready to 
respond to this step,"" he said. 
Al Meahlafi said he visited Brussels for two-days of talks with the Belgian Foreign Minister Didier Reynders, 
European Commission officials and Members of the European Parliament to explain the situation in Yemen 
and seek support for the Yemeni government's peace efforts. 
He said the Yemeni government seeks peace based on the three references, the Gulf initiative, the outputs of 
the national dialogue, and the Security Council resolutions on Yemen, including resolution 2216. 
The Yemeni foreign minister called on the EU to condemn the revolution and the Iranian interference in 
Yemen, which is sending arms to the Houthi militias. 
He also expressed his thanks to the EU for their humanitarian aid and for pledging the amount of 116 million 
euro (USD 127 mn) during the UN-sponsored donors conference on Yemen held recently in Geneva. (end) 
nk.mb 
Sent from my iPhone 
On May 14, 2017, at 11:25 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
i will ask, get back to you tomorw 
On Sun, May 14, 2017 at 10:23 PM, wrote: 
how about the war in yemen? 
Sent from my iPhone 
On May 14, 2017, at 10:25 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
it depends on which subject. . economic. military, tech? 
On Sun, May 14, 2017 at 9:17 PM, <________________________I> wrote: 
any tips on how we should communicate with him? 
Sent from my iPhone 
On May 14, 2017, at 9:35 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
much to do around the trump trip. I hope you are enjoying. 
<MMIIIIIMI:. 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
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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 026091 
communication in error, please notify us immediately by 
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HOUSE OVERSIGHT 026092 
communication in error, please notify us immediately by 
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The information contained in this communication is 
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HOUSE OVERSIGHT 026093 
"
IMAGES-010-HOUSE_OVERSIGHT_029322.txt,"Thursday, September 12, 2013
Page 8

refused to answer and the reasonable inference that a reasonable finder of fact would
draw:

e Question not answered: “Specifically what are the allegations against you
which you contend Mr. Edwards ginned up?” Reasonable inference: No
allegations against Epstein were ginned up.

e Question not answered: “Well, which of Mr. Edwards’ cases do you contend
were fabricated?” Reasonable inference: No cases filed by Edwards against
Epstein were fabricated.

e Question not answered: “Did sexual assaults ever take place on a private
airplane on which you were a passenger?” Reasonable inference: Epstein was
on a private airplane while sexual assaults were taking place.

e Question not answered: “How many minors have you procured for
prostitution?” Reasonable inference: Epstein has procured multiple minors for
prostitution.

e Question not answered: “Is there anything in L.M.’s Complaint that was filed
against you in September of 2008 which you contend to be false?” Reasonable
inference: Nothing in L.M.’s complaint filed in September of 2008 was false —
i.e., as alleged in L.M.’s complaint, Epstein repeatedly sexually assaulted her
while she was a minor and she was entitled to substantial compensatory and
punitive damages as a result.

e Question not answered: “I would like to know whether you ever had any
physical contact with the person referred to as Jane Doe in that [federal]
complaint?” Reasonable inference: Epstein had physical contact with minor
Jane Doe as alleged in her federal complaint.

e Question not answered: “Did you ever have any physical contact with E.W.?”
Reasonable inference: Epstein had physical contact with minor E.W. as
alleged in her complaint.

e Question not answered: “What is the actual value that you contend the claim
of E.W. against you has?” Reasonable inference: E.W.’s claim against
Epstein had substantial actual value.

Given all of the fatal flaws that infected Epstein’s claims against Edwards from the
outset and the overwhelming evidence that the motivation behind the filing of those
claims was exclusively extortion and malice, Epstein’s only hope of avoiding the full

HOUSE_OVERSIGHT_029322
"
IMAGES-005-HOUSE_OVERSIGHT_019689.txt,"The Rise of the NSA | 201

even decades,” greatly diminished the possibility of Soviet deception
so long as the NSA kept secret its sources.

The NSA did not rely entirely on its own sensors for this global
surveillance. It also formed intelligence-sharing alliances with key
allies. The most important was with the British code-breaking ser-
vice, GCHQ, which had achieved enormous success in World War II
in using computers to crack the German Enigma cipher. This alliance
expanded to include Canada, Australia, and New Zealand in the so-
called Five Eyes Alliance. Because over 80 percent of international
phone calls and Internet traffic passed through fiber-optic cables in
these five countries, the alliance had the capability of monitoring
almost all phone and Internet communications.

The NSA also established fruitful liaisons with the cyber services
of Germany, France, Spain, Italy, the Netherlands, Portugal, Israel,
Japan, and South Korea, which were often willing to provide the
NSA with access to telecommunications links in their countries.
These long-term allies greatly strengthened the NSA’s hand in other
ways in the intelligence war. For example, the so-called James Bond

© provision of the British Intelligence Services Act of 1994 allowed ©
officers of the GCHQ to commit illegal acts outside Britain, includ-
ing planting devices to intercept data from computer servers, cell
phones, and other electronic targets. And, as Snowden’s release of
documents revealed in 2013 and 2014, these foreign allies fully
shared their information with the NSA.

Of course, the liaison between the NSA and its allies was a two-
way street. In 2013, none of these other countries had a global net-
work of geosynchronous sensors in outer space and under the ocean
that could monitor signals from missile launching, submarines,
military deployments, nuclear tests, and other matters of strategic
importance to them. Nor did these allies have the cipher-breaking
capabilities of the array of NSA supercomputers. The NSA had
assiduously built these means at a cost of over half a trillion dol-
lars and employed tens of thousands of linguists who could translate
almost any dialect or language of interest.

Even though these allies had their own cipher services and local
capabilities, they depended on the NSA to provide them with a large

| | Epst_9780451494566_2p_all_r1.indd 201 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019689
"
IMAGES-005-HOUSE_OVERSIGHT_018597.txt,"counterproductive. I'd rather set an example and be welcoming. (Yet I acknowledge that
it's possible I wouldn't be able to do this effectively if aggressive vegans did not exist.
Aggressive vegans help create the space where I get to look ""reasonable"" and
""welcoming."" The blogger Kinsey Hope once wrote a really brilliant activist typology
that describes these dynamics. And of course, it's worth noting that I'm often
characterized as an appeaser by feminists, too.)

So. That said? If you think you're going to Get Upset Or Offended by this post, please
just don't read it. Seriously. But if you're willing to not freak out for a moment, then here
are my two primary arguments for why you should go vegan:

1. It’s easy. Yes, there will be some shitty social situations: awkward moments at
restaurants, pushback from your non-vegan friends, and so on. Yes, you will have to
avoid some very delicious foods. And food labels will become a whole new world of
confusion. But even with all these factors, veganism really isn't as hard as people
make it out to be.

There's a lot of delicious vegan food out there. A number of my favorite foods were
vegan before I went vegan, and some of yours probably are as well. (Recipes coming up!)
Here is a free online vegan starter guide that includes recipes. Here is a very
comprehensive list of vegan cookbooks; they range from ""easy"" to ""incredibly
complicated Martha-Stewart-land."" I am a fiend for baked goods, and I like Vegan
Cupcakes Take Over The World by Isa Chandra Moskowitz and Terry Hope Romero.
And there's an increasing number of high-quality all-vegan restaurants. My favorite ones
in Chicago are Native Foods (delicious cardamom rose cupcakes!) and Urban Vegan
(delicious fake orange chicken!).

I won't get involved in appeals-to-healthitude, because I know both healthy vegans and
unhealthy vegans, and the science is inconclusive... but I will point that out again: the
science is inconclusive. Unless you have an unusual disorder, modern nutrition has
identified no conclusive scientific reasons for not being vegan. Plus: If you aren't
vegan, but you don't pay any attention to eating healthy food, then you're being a
hypocrite if you make a “health argument"" for being non-vegan even if the science
was conclusive, which it's not. And! If you're really into health, there's a highly-
recommended book called Thrive written by a vegan professional athlete named Brendan
Brazier.

Some of my friends specifically do things like convince people to try veganism for short
periods, or run Vegan Weeks at universities or whatever, just to show how (a) delicious
and (b) easy vegan food can be. It works surprisingly well. A key ingredient in my own
adoption of veganism was knowing vegans, and seeing how simple it was to be vegan. I
used to push back really strongly... I think I resisted mostly because it was very hard to
acknowledge that by eating animal products, I was participating in an incredibly fucked
up system. First I had to recognize that I was doing something really bad, that I had been
doing so for my entire life, and that most people I love do it too. This is a familiar
problem for activists, of course; most people resist acknowledging that they participate in
a racist, sexist culture, too. (As one of my vegan friends puts it: ""I've found that people
usually go through the strongest asshole anti-vegan phase right before they convert to
veganism."")

HOUSE_OVERSIGHT_018597
"
IMAGES-005-HOUSE_OVERSIGHT_020008.txt,"moderate Democratic view. As for Trump himself, here was a man who was simply trying
to get out from under something he didn’t especially care about.

Ryan and Priebus’s salesmanship promised to get the president out from under other
issues as well. Health care reform, according to the Ryan plan, was something of a magic
bullet. The reform the Speaker would push through Congress would fund the tax cuts
Trump had guaranteed, which, in turn, would make all that Trump-promised infrastructure
investment possible.

On this basis—this domino theory that was meant to triumphantly carry the Trump
administration through to the August recess and mark it as one of the most
transformational presidencies in modern times—Ryan kept his job as Speaker, rising from
hated campaign symbol to the administration’s man on the Hill. In effect, the president,
quite aware of his and his staff’s inexperience in drafting legislation (in fact, nobody on
his senior staff had any experience at all), decided to outsource his agenda—and to a
heretofore archenemy.

Watching Ryan steal the legislative initiative during the transition, Bannon faced an
early realpolitik moment. If the president was willing to cede major initiatives, Bannon
would need to run a counteroperation and be ready with more Breitbart shenanigans.
Kushner, for his part, developed a certain Zen—you just had to go with the president’s
whims. As for the president, it was quite clear that deciding between contradictory policy
approaches was not his style of leadership. He simply hoped that difficult decisions would
make themselves.

7 OK Ok

Bannon was not merely contemptuous of Ryan’s ideology; he had no respect, either, for
his craft. In Bannon’s view, what the new Republican majority needed was a man like
John McCormick, the Democratic Speaker of the House who had served during Bannon’s
teenage years and had shepherded Johnson’s Great Society legislation. McCormick and
other Democrats from the 1960s were Bannon’s political heroes—put Tip O’Neill in that
pantheon, too. An Irish Catholic working-class man was philosophically separate from
aristocrats and gentry—and without aspirations to be either. Bannon venerated old-
fashioned pols. He looked like one himself: liver spots, jowls, edema. And he hated
modern politicians; they lacked, in addition to political talents, authenticity and soul. Ryan
was an Irish Catholic altar boy who had stayed an altar boy. He had not grown up to be a
thug, cop, or priest—or a true politician.

Ryan certainly wasn’t a vote counter. He was a benighted figure who had no ability to
see around corners. His heart was in tax reform, but as far as he could tell the only path to
tax reform was through health care. But he cared so little about the issue that—yjust as the
White House had outsourced health care to him—he outsourced the writing of the bill to
insurance companies and K Street lobbyists.

HOUSE_OVERSIGHT_020008
"
IMAGES-005-HOUSE_OVERSIGHT_019851.txt,"| checked into Jeff Klein's Sunset Tower Hotel still exhausted from last weekend's oh-so-grand
birthday extravaganza thrown by fun loving billionaire Stephen Schwarzman in Palm
Beach—and headed straight to Charles Finch's photo exhibition, ""The Art of Behind the
Scenes,"" to see rare candid on-set photos of Audrey Hepburn, Brigitte Bardot, Grace Kelly and
Ava Gardner.

Oscar balloting had closed an hour earlier, and IndieWire's Oscar blogger Anne Thompson
announced that a female friend had voted for all the diverse and minority nominees. This first
hint of things to come didn’t register as a bell ringer for best picture. Spotted: Jean Pigozzi,
Brett Ratner and Paul Haggis.

Back at The Sunset Tower Bar, diminutive maitre d' Dmitri Dimitrov slid up to me, cupped his
hands in prayer and whispered, ""Lady Gaga and Bradley Cooper are in the corner booth with
Warner Bros. Sue Kroll."" They were talking about their remake of ""A Star is Born"" going into
production within the month.

At the next table was Ryan Murphy, creator of the multi-award winning FX mini-series ""The
People vs. O.J. Simpson: American Crime Story,” eating with his muse Sarah Paulson, who
won countless awards for portraying Marcia Clark. | joked that the Oscar nominated
documentary ""O.J.: Made in America"" from ESPN would win because voters thought both films
are the same.

Wednesday, February 22nd

| met Adam Lindemann and museum director Michael Govan at LACMA’s The Inner Eye:
Vision and Transcendence in African Art. Michael and | discussed the struggle to diversify the
Academy. He told me that at LACMA he’d hired women, African American and Latino curators
years before.

Vanity Fair Editor-in-Chief Graydon Carter and Barneys hosted a private dinner for ""La La
Land"" at the Chateau Marmont. Graydon always tries to entertain the winning film. Drinks
around the pool were followed by a seated dinner for fifty in a bungalow. Emma Stone brought
her mother. Handsome hotelier Andre Balazs darts around. Ryan Gosling stayed home with
his girlfriend Eva Mendes and their two baby girls. Emma talked about her next film ""Battle of
the Sexes."" She plays Billie Jean King opposite Steve Carell, an excellent tennis player in real
life, as Bobby Riggs.

Damien Chazelle came late from a dinner for the nominated directors. The Academy hosts a
series of secret dinners during Oscar week for key nominees to keep them away from
sponsors who profit from their celebrity. They also want to protect their own sponsor, ABC-TV,
with exclusivity and audience surprise.

Thursday, February 23rd

Larry Gagosian's annual Oscar-week art opening is always a hot ticket. Serious collectors
blended in unnoticed among the mere lookers and pretty gallerists quietly pointing out one
glorious Joe Bradley painting after another. Each costs a cool million and between 6:00pm and
8:00pm they are all sold. Buyers and Larry's close friends then migrate down the block to Mr.
Chow. Elton John and David Furnish, Jonah Hill, Dakota Johnson, Sharon Stone,

HOUSE_OVERSIGHT_019851
"
IMAGES-012-HOUSE_OVERSIGHT_032695.txt,"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

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

.htm|

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_032695
"
IMAGES-011-HOUSE_OVERSIGHT_031124.txt,"your request. J.P. Morgan’s Strategy, Technical, and Quantitative Research teams may screen companies not covered by J.P. Morgan. For important
disclosures for these companies, please call 1-800-477-0406 or e-mail research. disclosure.inquiries@jpmorgan.com.

J.P. Morgan does and seeks to do business with companies 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.

Confidentiality and Security Notice: This transmission may contain information that is privileged, confidential, legally privileged, and/or exempt
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HOUSE_OVERSIGHT_031124
"
IMAGES-003-HOUSE_OVERSIGHT_015824.txt,"134 Are the Androids Dreaming Yet?

A Simple Poem

Rain
There are holes in the sky
Where the rain gets in
But they’re ever so small
That’s why the rain is thin.
Spike Milligan

Spike Milligan

Coming upon a poem by chance can be likened to the probability
of dealing a perfect bridge hand. Shuffle the deck thoroughly and then
deal four hands. What is the probability every player will have the ace
through king in a single suit? It’s about 1 in 1,000,000,000,000,000 hands.
Because lots of people play a lot of bridge around the world, this outcome
has been reported quite a few times. The possibility appears within the
bounds of human experience. Fifty-two playing cards seems close to the
80 characters that make up this poem and 13 choices of cards is about the
same as the 26 letters of the Latin alphabet. Wouldn't we expect poems of
this complexity to crop up almost as often?

NO.

HOUSE_OVERSIGHT_015824
"
IMAGES-007-HOUSE_OVERSIGHT_022788.txt,"Non-Responsive - Redacted

HOUSE_OVERSIGHT_022788
"
IMAGES-011-HOUSE_OVERSIGHT_031642.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 11/11/2016 3:26:54 PM
To: Larry Summers
Subject: Re:

On Friday, 11 November 2016, Larry Summers <> wrote:

What number

Sent from my iPad

Please direct all scheduling inquiries to my office at: I

Follow me on twitter @lhsummers
www.larrysummers.com

On Nov 11, 2016, at 10:14 AM, jeffrey E. <jeevacation@gmail.com> wrote:

Ok

On Friday, 11 November 2016, Larry Summers i - wrote:

Can call circa 11

Sent from my iPad

Please direct all scheduling inquiries to my office |

Follow me on twitter @lhsummers
www.larrysummers.com

On Nov 11, 2016, at 10:08 AM, jeffrey E. <jeevacation@gmail.com> wrote:

No , -phone today?

On Friday, 11 November 2016, Larry Summers fi wrote:

Times bad. R u around Tuesday?
Sent from my iPad

Please direct all scheduling inquiries to my office (ie

Follow me on twitter @lhsummers
www.larrysummers.com

On Nov 10, 2016, at 4:03 PM, jeffrey E. <jeevacation@gmail.com> wrote:

ehud in on sun pritzkermon. you around? dinner woody sunday. or have you gone dark

On Mon, Oct 10, 2016 at 2:45 AM, Larry Summers <> wrote:

Got it.

HOUSE_OVERSIGHT_031642
"
IMAGES-001-HOUSE_OVERSIGHT_012004.txt,"GREGKADELSTUDIOS
0) Erosdetey init Geor now pork 10093 + 313.516 fora
dni NIRA STUGIOE com

SE: 0-1 Nen-feiigratt Vies Petition on behalf of Jean Loc Brunel
Dow Sr or Madam:

“This Detine fe written to support the visa spolicetscn of Jeca Los Brumet so that he may be accorded 01
extmartingry abllty vw steucs tw comtinuc to expaed gpop hee already outetanding axome ie the
workdelde fishies industry. Terms the Production Manager at Greg Kedel xpdiog, and heve worked
with auch eMlents as Vogue Matic, Numéro, Interview, Vogue Germany, InStyle) and Allure

dem Loe Brunel hes beanme increasingly wall encom in our field as ecneone who wil imfallthty

ges selees a eet owotoptiate med ln forbs wae aan sdvertbaing puegnlgn and aueeceroenthy jon
the onetendlog ability ta menage all stages of the ecemplmn process of producing the right model frr a
job. Therefore, the quality of bts work ts incrolzble ag he is abla to fled the bewutiful models, Aaa
rae br fe onion ce Ue ofeach Gta etae! rpm eoiaber ee

In my opinion, Jeon Lane Brunel, is ceutty an individual of extzaardioary wbility ia the field of at, and
the position be will assume in the United States dearly requcres an individual of extraontinary ability in
this Geld. Mr. Brome! busy heen bnternetionslly lon and recognized for his unique tallest and

who collshorates vith the atest distinguiched magiones end advertiaing cliemis, raquive an individual
of extraordinary ab@ity and accamphishnoenia such we Mr. Jean Lue Bruse,

ioewly,
Production Manayer

HOUSE_OVERSIGHT_012004
"
IMAGES-007-HOUSE_OVERSIGHT_022950.txt,"Landon Thomas, Jr.
Financial Reporter

fan

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

ex. 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

_ _ -_

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

HOUSE_OVERSIGHT_022950
"
IMAGES-009-HOUSE_OVERSIGHT_026684.txt,
IMAGES-006-HOUSE_OVERSIGHT_021810.txt,"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_021810
"
IMAGES-007-HOUSE_OVERSIGHT_023496.txt,"10

process requires—and that, in turn, depends on a consensus at the
UN. For another, the NPT incorporates the utopian vision of global
zero and even sails beyond it, calling for “general and complete
disarmament that liquidates, in particular, nuclear weapons.” Since
almost no governments anywhere in the world actually believe in
“general and complete disarmament,” the effect of its inclusion in the
NPT simply robs that treaty of any gravity.

It is widely accepted among those who think the Non-Proliferation
Treaty is the key to containing the spread of nuclear weapons that
control of the international fuel cycle must be achieved by an
international consensus and administered and enforced by the UN or
comparable body. But suppose a much smaller group of nations—a
coalition of the willing, perhaps—sought to control the nuclear fuel
cycle, or at least deal with would-be proliferators in a firm, timely
and decisive manner: Could such a coalition achieve legitimacy in
light of the universalist conceit of the NPT? Would it even
contemplate action outside the treaty?

But what made the 2007 Wall Street Journal article so important was
not its prescription for obviously necessary measures such as
ensuring controls for nuclear fuel. It was that its appearance
reinforced a growing utopianism that has flowered into a movement
for “a world free of nuclear weapons,” a movement whose
momentum is reminiscent of the 1980s movement for a “nuclear
freeze” —a Soviet-manipulated protest aimed at halting Ronald
Reagan’s modernization of the American nuclear deterrent. Shultz,
Kissinger, Perry, and Nunn should have foreseen that their statement
would be seized upon by irresponsible actors. All four, after all,
opposed the nuclear freeze movement of the 1980s.

The goal of a nuclear-free world was made even more emphatic in a
second article, also in the Wall Street Journal, that the authors wrote
a year after the first one (January 15, 2008): “Progress must be

HOUSE_OVERSIGHT_023496
"
IMAGES-010-HOUSE_OVERSIGHT_030115.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

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may

HOUSE_OVERSIGHT_030115
"
IMAGES-001-HOUSE_OVERSIGHT_010613.txt,"* EUR is underpricing Brexit and that shorting Euro was a cheaper way to express such a
view via options. CHF tends to perform strongly when risks become more localized.

Closed on 28 Aug 2016: Buy EUR/USD 6m 1.00/1.20 strangle for 155 usd pips (off

1.1020 spot, DF two-way vols 12.1/12.3) (29 Feb 2016)
*Owning low delta EURUSD strangles may be an effective and cheap double hedge in the
scenario that either the US enters a recession or the European debt crisis resurfaces.

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:/Awww.theocc.com/about/publications/character-risks.jsp.

Analyst Certification

|, Adarsh Sinha, hereby certify that the views expressed in this research report about
securities and issuers accurately reflect the research model applied in such analysis. |
also certify that no part of my 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 Liquid Insight | 22 September 2016 5

HOUSE_OVERSIGHT_010613
"
IMAGES-010-HOUSE_OVERSIGHT_028982.txt,"I will check my Skype no

Have not used it for sometime

Good to know re Harvard program

Amazing what we can do with technology even without understanding how perception occurs
All love

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 Jul 29, 2016, at 8:00 AM, jeffrey E. <jeevacation@gmail.com> wrote:

Iam in florida. palm beach. . wecanskype. today tomrow? you should plan on a visit to my
island. you might want to consider taking some benedryl to resest your clock after jet lag. one hour
before bedtime you you missed an interesting session up at harvard. perception, , language. ,
understanding. human and robot interaction

On Fri, Jul 29, 2016 at 3:01 AM, Deepak Chopra qi wrote:

I'm available after 2 PM tomorrow if you have time ability and desire for a cup of coffee
I can drop by if you are in town

Ihave galleys of new book

Best

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 Jul 28, 2016, at 10:03 PM, jeffrey E. <jeevacation@gmail.com> wrote:

How long New York

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_028982
"
IMAGES-010-HOUSE_OVERSIGHT_029444.txt,"TAX BULLETIN 2018-1: TAX REFORM SIGNED INTO LAW

a Roth conversion. From the current language of the effective date, it is unclear whether this would
prevent a 2017 Roth conversion from being recharacterized in 2018.

e Taxation of alimony. Under 2017 law, alimony and separate maintenance payments were deductible
by the payor and includible in income by the recipient. (Child support payments are not treated as
alimony.) The House bill proposed to reverse this treatment, making alimony and separate
maintenance payments non-deductible to the payor and non-taxable to the recipient. The Senate bill
had no similar provision. The Act generally follows the House bill but delays the effective date by one
year, generally being effective for any divorce or separation instrument executed after December 31,
2018.

e =©Sale of principal residence exclusion. Under 2017 law, up to $250,000 of gain ($500,000 if filing
jointly) on the sale of a principal residence could be excluded from income. Among the requirements
is that the principal residence be owned and used as your principal residence for two out of the last
five years. You could use this rule only once every two years. This exemption was available regardless
of income. Both the House and Senate Bills proposed that (i) the principal residence must be owned
and used as your principal residence for five out of the last eight years and (ii) you can use this rule
only once every five years. The House proposal also contained a limit to the exclusion if income
exceeded a certain amount. In a surprise, none of these modifications were included in the Act. As
a result, no changes were made to the principal residence exclusion rules.

e Identification of securities sold, exchanged and gifted. Gain or loss generally is recognized for
Federal income tax purposes on the sale of property. A taxpayer’s gain or loss on a disposition of
property is the difference between the amount realized on the sale and the taxpayer’s cost basis in
the property. Under 2017 law, if a taxpayer has acquired stock in a corporation on different dates or
at different prices and sells or transfers some of the shares of that stock, and the lot from which the
stock is sold or transferred is not adequately identified, the shares sold are deemed to be from the
earliest acquired shares (the “first-in-first-out” rule; FIFO). However, under 2017 law, if a taxpayer
specifically identifies the shares of stock to be sold, the shares of stock treated as sold are the shares
that have been identified. The same rules apply to charitable gifts and gifts to trusts or family
members. Although the Senate bill had proposed eliminating the ability to specifically identify lots
and mandating that the FIFO rule be used, the Act makes no changes; the 2017 rules will remain in
place.

e Like-kind exchanges. Under 2017 law, real estate and personal property could qualify for a tax-
deferred like-kind exchange. The property had to be held either for investment or for use in a trade
or business. Under the Act, like-kind exchanges will be available only for real estate, not personal
property. This will end, for example, like-kind exchanges of art. This new rule is effective for transfers
after 2017. However, there is a transition rule to allow like-kind exchanges of personal property to
be completed on a tax-free basis if you either disposed of the relinquished property or acquired the
replacement property on or before December 31, 2017.

e 529 Savings Plans. Under 2017 law, funds in 529 Saving Plans could be withdrawn tax-free if used for
higher education expenses. The Act expands the type of expense that can be paid via a 529 Savings
Plan and allows up to $10,000 per year to be used for elementary and high school tuition and
specifically allows funds to be used for private and religious schools. A provision that would have also

HOUSE_OVERSIGHT_029444
"
IMAGES-001-HOUSE_OVERSIGHT_011492.txt,"grandfather was put in charge of holding the money until rebuilding plans were
worked out. The problem was that word spread quickly about the rebuilding
fund. On the night of September 16, 1912, two burglars burst into my
grandfather’s home and stole the money. They beat him and my grandmother to
death with an axle wrenched loose from a nearby carriage. Their four-year-old
son Meir — my father’s older brother — suffered a deep wound from where the
attackers drove the metal shaft into his head. He carried a golf-ball-sized
indentation in his forehead for the rest of his life. My father had burrowed into a
corner, and the attackers didn’t see him.

The two orphaned boys were raised by their paternal grandmother, Itzila. Yet
any return to normalcy they may have experienced was cut short by the
outbreak of the First World War, forcing her to flee with them by train ahead of
the advancing German army. They ended up some 1,500 miles south, in the
Crimean city of Simferopol. Initially under czarist rule, then the Bolsheviks and
from late 1917 until the end of the war under the Germans, they had to deal with
cold, damp and a chronic shortage of food. My Uncle Meir quickly learned how
to survive. He later told me that he would run after German supply carriages
and collect the odd potato that fell off the back. Realizing that the German
soldiers had been wrenched from their own families by the war, he began taking
my father with him on weekends to the neighborhood near their barracks, where
the soldiers would sometimes give them cookies, or even a loaf of bread. Yet
they were deprived of the basic ingredients of a healthy childhood: nutritious
food and a warm, dry room in which to sleep. By the time Itzila brought them
back to settle in Ponovezh at the end of the war, my father was diagnosed with
the bone-development disease, rickets, caused by the lack of Vitamin D in their
diet.

In another way, however, my father was the more fortunate of the boys. The
lost schooling of those wartime years came at a less formative time for him than
for his brother. Meir never fully made up the lost ground in school. My father
simply began his Jewish primary education, cheder, a couple of years later than
usual. He thrived there. Still, when it was time for him to enter secondary
education, he decided against going on with his religious education. Meir was
preparing to leave for Palestine, so my father enrolled in the Hebrew-language,
Zionist high school. When he graduated, one of the many Brog relatives who
were by now living in the United States, his Uncle Jacob, tried to persuade him
to come to Pittsburgh for university studies. But with Meir signing on as his
sponsor with the British Mandate authorities, he left for Palestine shortly before

21
HOUSE_OVERSIGHT_011492
"
IMAGES-008-HOUSE_OVERSIGHT_026352.txt,"-during U.N. Week in late September, did you host a Sunday night discussion with Bill Gates, Mort Zuckerman, and Peter Thiel?
Was anyone else in attendance? Were you discussing a possible Gates Foundation donor advised fund?

-Did you host Sheikh Hamad Bin Jassim and several others from Qatar? Do you know if the Sheikh has ahome across the street
from you in Manhattan? Did they talk to you about bribery compromising their bid for the World Cup? When was this? Did
they bring a gift of chocolate made with pistachios grown on the Sheikh's farm?

-The morning after the Qataris came over, did you have a9 AM breakfast with the attorney Reid Weingarten? Did you discuss
his defense of CT governor John Rowland, the Qatari visit, and who controls ISIS? Did Weingarten believe Turkey was using ISIS
as a proxy against the Kurds?

-After this, did you meet with Brock Pierce to discuss bitcoin? Did Larry Summers join this meeting?

-That evening, did you host Australian PM Kevin Rudd and Thorborn Jagland for acocktail party? Did Jagland critique US
foreign policy? Did you offer to fly him back to Europe on your jet?

-The following morning, did Enud Barack come over for breakfast? Did he have an omelet? Did he defend both Putin and
Obama?

-Was this followed by a senior White House official, whose name you don't want mentioned?

-Did you then meet with Elisa New to discuss supporting a poetry series and other sources of funding? Did you forcefully
critique her proposed budget?

-After meeting with New, did you meet with the following: Hardeep Purie, Kairat Kelimbetov, Nathan Myhrvold, Martin
Nowak, Richard Axel, Ron Baron, Josh Harris? Have you funded Nowak's program at Harvard with $30 million?

-did Michael join alunch at your home with Bill Richardson?

-do you believe powerful people seek your advice because you're not affiliated with any institution, so you have no ulterior
motives when giving them advice?

-is your Paris home a 10,000 sq ft apartment on Avenue Foch? Does it have a stuffed baby elephant in its living room? Is it
meant as a reminder that elephants have 23 copies of tumor suppressor genes?

-Is the only book on your bedside table Lolita? Are you a fan of Nabokov?

-Did you tell Michael that he should make a particular $100k investment in early September? What was it?

-Were you born on 1953 in Coney Island? Was your father a Parks dept employee? Was your mother a housewife?

-were you the captain of the math team at Lafayette High School?

-did you study at Cooper Union for two years before beginning classes at NYU's Courant classes? After this, did you teach math
at Dalton? Was this your first exposure to wealthy people? Did this teach you the rich had just as many problems as the
working class, only theirs were caused by too much money rather than too little?

-Did Punch Sulzberger try to convince you to join the NYT from Dalton? Did you once drive with Sulzberger to his country
estate ina wood paneled station wagon, while he talked on a phone to his chaffeur?

-did you meet Ace Greenberg through his children at Dalton?

-Did he say that given your reputation for intelligence and Jewish heritage, you should be working at Bear Stearns? Was this in
the late 70s?

-Did you soon move to a penthouse at 66th St. and 2nd Avenue?

-During this time did you regularly attend Studio 54?

-Have you ever drank or taken drugs?

-Do you believe that in the 50's, finance was governed by personal relationships, but in the 70's, with the rise of derivatives
trading, math began to dominate the field?

-Did you never want to get married to maintain your freedom?

-Did you become close to Jimmy Cayne?

-Did you leave Bear Stearns in 1982? Why? Did you take clients including Marvin Davis and Herb Siegel?

-Were you then dating Morgan Fairchild?

-During the 80s, did you frequently go to England where you befriended Robin Reach and attended country shooting parties
and black tie dinners?

-Were you mainly interested in meeting smart people rather than amassing a personal fortune?

-do you think that billionaire-level worth creates worries that millionaires don't face? Does traditional wealth management
not work for billionaires?

-Did you help governments that came after corrupt dictators reclaim stolen assets? Which governments?

-Did you begin advising and representing wealthy people and families regarding philanthropy during this period?

-Did you advise Steven Hoffenberg?

-Did you attend the 1994 Serpentine Gallery gala? Did you socialize with Princess Diana at that event?

-Did you meet Bill Clinton after he left the White House? Did this change the arc of your life?

-did you buy your Manhattan home from Les Wexner?

-Did you meet with Larry Page and Sergey Brin during your 2002 trip to the TED conference? Did they describe a plan to market

HOUSE_OVERSIGHT_026352
"
IMAGES-001-HOUSE_OVERSIGHT_010954.txt,"future pay runs out. So do I. The puzzle is how pay could rise while human capital

shrinks smoothly to zero.

This would not be a puzzle if we were speaking of oil wells whose oil might continue
to be pumped out at a steady or even rising rate until the well ran dry. We are
puzzled because pay is generally believed to equal and compensate work. Work
means the output of human capital. How could less capital steadily produce more
output, meaning creation as distinct from depletion of value, particularly if some
work is self-invested rather than marketed for pay? That would imply exponentially

rising productivity, meaning rate of return, and rising to infinity at the end.

Think about it. Strictly speaking, human capital is present value of future pay less
spending on future childhood nurture plus textbooks or tuition or job training
(collectively called “schooling” by Mincer) invested in human capital. Ben-Porath
knew that, as had others before, but reasoned that investment in anything must stop
when not enough time remains for recovery. | think so too. And I argue anyhow,
from observation rather than logic, that invested nurture and schooling
substantially end when we enter the full-time job market sometime in our twenties.
Then human capital in adulthood is essentially present value of expected pay, or
even less if Ben-Porath and I are wrong and nurture or schooling continues to the
end. When only a year of pay is left ahead of us, human capital at most is time-
discounted present value of one year’s pay. When one day is left, it is at most
present value of one day’s pay. Yet age-wage profiles show pay (wage) holding level,
or even rising, as human capital grades smoothly to zero. This is the famous age-
wage puzzle. |’ll flesh out the same thought experiment later in what I call the

parable of the boss and her secretary.

Economists have recently proposed solutions which I see as farfetched. Possibilities
that human capital indeed grows more productive with age, or depreciates all at
once, seem implausible in each case and cannot begin to explain enough. I think

Becker hinted at the answer in 1964. Becker pointed out that job training at the

Chapter 2: Fast Forward 1/06/16 14

HOUSE_OVERSIGHT_010954
"
TEXT-001-HOUSE_OVERSIGHT_021106.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 5/13/2018 11:03:18 AM 
To: 
Subject: Re: Fw: WSJ 
Nothing attached 
On Sun, May 13, 2018 at 7:00 AM Steve Bannon < > wrote: 
Sent via BlackBerry by AT&T 
From: Alexandra Preate < 
Date: Sat, 12 May 2018 08:23:58 -0400 
To: < 
Subject: WSJ 
SUBSCRIBE NOWSIGN IN 
TECH 
Tesla's Engineering Chief Takes Leave of Absence at Pivotal ... 
PRO BANKRUPTCY 
Weinstein Co. Unsecured Creditors Want Sale Proceeds ... 
POLITICS 
GOP Lawmakers Meet With Justice Department Over ... 
HOUSE OVERSIGHT 021106 
OPINION 
The Endless Clinton Campaign 
OPINION 
The Mystery of Michael Flynn's Guilty Plea 
LIFE 
Why Doesn't Your Husband Want to Have Sex? 
LIFE 
John McCain: 'Vladimir Putin Is an Evil Man' 
POLITICS 
Mueller Asked Ford for Records After It Rejected Michael ... 
WSJ 
The Fight Over FBI's 'Top-Secret' Intelligence Source 
HOUSE OVERSIGHT 021107 
OPINION 
The Concept of Rights Went With Responsibilities 
OPINION 
The Justice Hall of Mirrors 
TECH 
Tesla's Engineering Chief Takes Leave of Absence at Pivotal ... 
PRO BANKRUPTCY 
Weinstein Co. Unsecured Creditors Want Sale Proceeds ... 
POLITIC S 
GOP Lawmakers Meet With Justice Department Over ... 
OPINION 
The Endless Clinton Campaign 
OPINION 
The Mystery of Michael Flynn's Guilty Plea 
HOUSE OVERSIGHT 021108 
LIFE 
Why Doesn't Your Husband Want to Have Sex? 
LIFE 
John McCain: 'Vladimir Putin Is an Evil Man' 
POLITICS 
Mueller Asked Ford for Records After It Rejected Michael ... 
WSJ 
The Fight Over FBI's 'Top-Secret' Intelligence Source 
OPINION 
The Concept of Rights Went With Responsibilities 
• POTOMAC WATCH 
About That FBI 'Source' 
Did the bureau engage in outright spying against the 2016 Trump campaign? 
House Intelligence Committee Chairman Devin Nunes at the Conservative Political Action Conference, 
Feb. 24 at National Harbor, Md. PHOTO: JOSHUA ROBERTS/REUTERS 
HOUSE OVERSIGHT 021109 
By 
Kimberley A. Strassel 
May 10, 2018 6:50 p.m. ET 
1663 COMMENTS 
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 
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 
The bureau already has some explaining to do. Thanks to the Washington Post's unnamed law-enforcement 
leakers, we know Mr. Nunes's request deals with a ""top secret intelligence source"" of the FBI and CIA, 
who is a U.S. citizen and who was involved in the Russia collusion probe. When government agencies refer 
to sources, they mean people who appear to be average citizens but use their profession or contacts to spy 
for the agency. Ergo, we might take this to mean that the FBI secretly had a person on the payroll who used 
his or her non-FBI credentials to interact in some capacity with the Trump campaign. 
This would amount to spying, and it is hugely disconcerting. It would also be a major escalation from the 
electronic surveillance we already knew about, which was bad enough. Obama political appointees 
rampantly ""unmasked"" Trump campaign officials to monitor their conversations, while the FBI played dirty 
with its surveillance warrant against Carter Page, failing to tell the Foreign Intelligence Surveillance Court 
that its supporting information came from the Hillary Clinton campaign. Now we find it may have also been 
rolling out human intelligence, John Le Carr& style, to infiltrate the Trump campaign. 
Which would lead to another big question for the FBI: When? The bureau has been doggedly sticking with 
its story that a tip in July 2016 about the drunken ramblings of George Papadopoulos launched its 
counterintelligence probe. Still, the players in this affair—the FBI, former Director Jim Comey, the Steele 
dossier authors—have been suspiciously vague on the key moments leading up to that launch date. When 
precisely was the Steele dossier delivered to the FBI? When precisely did the Papadopoulos information 
come in? 
And to the point, when precisely was this human source operating? Because if it was prior to that infamous 
Papadopoulos tip, then the FBI isn't being straight. It would mean the bureau was spying on the Trump 
campaign prior to that moment. And that in turn would mean that the FBI had been spurred to act on the 
basis of something other than a junior campaign aide's loose lips. 
We also know that among the Justice Department's stated reasons for not complying with the Nunes 
subpoena was its worry that to do so might damage international relationships. This suggests the ""source"" 
may be overseas, have ties to foreign intelligence, or both. That's notable, given the highly suspicious role 
foreigners have played in this escapade. It was an Australian diplomat who reported the Papadopoulos 
conversation. Dossier author Christopher Steele is British, used to work for MI6, and retains ties to that spy 
agency as well as to a network of former spooks. It was a former British diplomat who tipped off Sen. John 
McCain to the dossier. How this ""top secret"" source fits into this puzzle could matter deeply. 
I believe I know the name of the informant, but my intelligence sources did not provide it to me and refuse 
to confirm it. It would therefore be irresponsible to publish it. But what is clear is that we've barely 
HOUSE OVERSIGHT 021111 
scratched the surface of the FBI's 2016 behavior, and the country will never get the straight story until 
President Trump moves to declassify everything possible. It's time to rip off the Band-Aid. 
Correction 
The FBI briefed House Intelligence Committee members about a top-secret intelligence source but did not 
allow them to see documents. An earlier version of this article misstated this. 
Alexandra V. Preate 
Chief Executive Officer 
Ca italH 
cell 
The information transmitted in this email (including any attachments) is intended only for the person or entity 
to which it is addressed, and may contain non-public, proprietary, confidential and/or privileged material. If 
you are not the intended recipient, you are hereby notified that any use, dissemination, distribution, or copying 
of this communication is strictly prohibited. If you have received this communication in error, please destroy 
all copies of this message and any attachments from your system. Thank you. 
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 021112 
"
IMAGES-005-HOUSE_OVERSIGHT_019070.txt,"Automated Serial Permanent Charge-Out
FD-5a (1-5-94)
Date: 06/21/07 Time:

Case ID: 31E-MM-108062 Serial: 54

Description of Document:

Type : FD909

Date :_01/04/07
From :

Reason for Permanent Charge-Out:

transfer to subpoena sub
Transferred to:

Case ID: 31E-MM-108062-SBP Serial: 57

Employee =

b7Cc

3)E um - 109002 SH
HOUSE_OVERSIGHT_019070

"
IMAGES-009-HOUSE_OVERSIGHT_027405.txt,"GUID: 2FEC3311-7477-429F-B46E-D8BC05246AC6
Message: |

Sender:

Time: 08/23/18 07:20:19 AM (556726819)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 84252D59-B238-41 A0-83FB-980221535781

Message: Any of the bank stocks worth buying? I own BARCLAYS..... it has done bad{_

Sender: e:jeeitunes@gmail.com

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HOUSE_OVERSIGHT_027405
"
IMAGES-006-HOUSE_OVERSIGHT_021757.txt,"KKKKEKKKEKEKK KEKE ERK KEKE K EK KEK EEK EK KEK ERK EEK EKEKEK KEKE KEK EK ERK EK KEK EK EK EK EK EK EEK EEK EKKEK EEK EKEEK ERK EEK EERE EEK EEEKER

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. Unauthorized use, disclosure or copying of this communication

or any part 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 - © 2019 Darren K. Indyke — All rights reserved.

KKKKEKKKEKEKK KEKE KEK KEKE KKK KEKEKEK KKK KEK KEK ERK EEK EKEKEK KEKE KEK KEK ERK EK KEKE KEK KEK EK KEK ERK KKK EK KEK KEKE EKKEK ERK KEKE EKEEK EEK EERE ERE

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_021757
"
IMAGES-008-HOUSE_OVERSIGHT_025883.txt,"20 Park Plaza, Suite 1000

Boston, MA 02116

This Electronic Message contains

information from the Law Office of

Martin G. Weinberg, P.C.,

and may be privileged. The

information is intended for the

use of the addressee only. If you

are not the addressee, please note

that any disclosure, copying,

distribution, or use of the

contents of this message is

prohibited.

On Thu, 4/23/15, Martin weinberg

wrote:

HOUSE_OVERSIGHT_025883
"
IMAGES-007-HOUSE_OVERSIGHT_022617.txt,"115

order to make clear that, consistent with enforcement policy at the time,
criminal penalties would not be imposed “for inadvertent or insignificant
errors in books and records, or inadvertent violations of accounting
controls.” See S. Rep. No. 100-85, at 49; H.R. Rep. No. 100-576, at

916 (“The Conferees intend to codify current Securities and Exchange
Commission (SEC) enforcement policy that penalties not be imposed for
insignificant or technical infractions or inadvertent conduct.”).

615 US.C. § 78 f(a).

265 See United States v. Alcatel-Lucent, S.A., supra note 48; see also United
States v. Alcatel-Lucent France, supra note 56.

266 See Deferred Prosecution Agreement, United States v. Alcatel-Lucent,
S.A., supra note 48, ECF No. 10, available at http://www.justice.gov/
criminal/fraud/fcpa/cases/alcatel-etal/02-22- 1 lalcatel-dpa.pdf.

267 See Plea Agreement, United States v. Siemens AG, supra note 48, ECF
No. 14, available at http ://wwwjustice.gov/criminal/fraud/fcpa/cases/
siemens/ 12-1 5-O08siemensakt-plea.pdf.

268 See Minute Entry of Guilty Plea, United States v. Peterson, supra note
8, ECF 13; see adso Press Release, U.S. Dept. of Justice, Former Morgan
Stanley Managing Director Pleads Guilty for Role in Evading Internal
Controls Required. by FCPA (Apr. 23, 2012), available at http://www.
justice.gov/opa/pr/20 12/April/ 12-crm-534,html.

2 See Criminal Information, United States v. Baker Hughes Svcs.

Int'l, No. 07-cr-129 (S.D. Tex. Apr. 11, 2007), ECF No. 1, available at
http ://wwwjustice.gov/criminal/fraud/fcpa/cases/baker-hughs/04- 1l1-
07bakerhughesintl-info.pdf.

2? See United States v. Panalpina, Inc, supra note 68.

271 Td.

°? See FASB Statement of Financial Accounting Concepts No. 2, 1]
63-80.

*3 PCAOB Auditing Standard No. 12 and PCAOB AU Section 325.

274 See Section 10A of the Exchange Act, 1SUS.C. § 78)-1.

25.18 US.C. § 1952.

278 See, e.g., United States v. Nexus Technologies, supra note 53; Criminal
Information, United States v. Robert Richard King, et al,, No. 01-cr-190
(W.D. Mo. June 27, 2001), available at hetp://wwwjustice.gov/criminal/
fraud/ fcpa/ cases/, kingr-etal/ 0 5-03-02king-robert-indict.pdf; Superseding
Indictment, United States v. Mead, supra note 44; Criminal Information,
United States v. Saybolt North America Inc., e¢ al., No. 98-cr-10266 (D.
Mass. Aug. 18, 1998), available at http ://wwwjustice.gov/criminal/
fraud/fcpa/cases/saybolt/08- 10-98saybolt-info.pdf.

277 See Second Superseding Indictment, United States v. Kozeny, No. 05-
cr-518 (S.D.NY. May 26, 2009), ECF No. 203, available at http://www.
justice.gov/criminal/fraud/fcpa/cases/kozenyv/05-26-09bourke2nd-
supersed-indict.pdf; Judgment, United States v. Bourke, No. 05-cr-518
(S.D.N-Y. Noy. 12, 2009), ECF No. 253, available at http://www.justice.
gov/ criminal/fraud/ fcpa/ cases/ kozenyv/ 11-1 2-09bourke-judgment.pdf.
278 Plea Agreement, United States v. Control Components, supra note

235, ECE No. 7; see also Order, United States v. Carson, supra note 119,
ECF No. 440 (denying motion to dismiss counts alleging Travel Act
violations), available at http ://www.justice.gov/ criminal/fraud/ fcpa/
cases/carsons/201 1-09-20-carson-minutes-denying-motion-to-dismiss.
pdf.

2? See, 0.85 Criminal Information, Uxited States v. Esquenazi, supra note
44; Criminal Information, United States v. Green, supra note 44; Criminal
Information, United States v. General Elec. Co., No. 92-cr-87 (S.D. Ohio
July 22, 1992), available at http ://www.justice.gov/criminal/fraud/fcpa/
cases/ general-electric/ 1992-07-22-general-electric-information. pdf.

°8 Foreign officials may “not be charged with violating the FCPA itself,
since the [FCPA] does not criminalize the receipt ofa bribe by a foreign
official.” United States v. Blondek, 741 FSupp. 116, 117 (N.D. Tex.
1990), affd United States v. Castle, 925 F.2d 831 (Sth Cir. 1991) (“We
hold that foreign officials may not be prosecuted. under 18 U.S.C. §

37] for conspiring to violate the FCPA.’). Foreign officials, however,

can be charged with violating the FCPA when the foreign official acts
asan intermediary of a bribe payment. See, eg., Information, United
States v. Basu, No. 02-cr-475 (D.D.C. Nov. 26, 2002) (World Bank
employee charged with wire fraud and FCPA violations for facilitating
bribe payments to another World Bank official and Kenyan government
official), available at http: //wwwjustice.gov / criminal/fraud/ fepa/ cases/
basu/1 1-26-02basu-info.pdf; Information, United States v. Sengupta, No.
02-cr-40 (D.D.C. Jan. 30, 2002), available at http ://www.justice.gov/
criminal/fraud/fcpa/cases/sengupta/0 1-30-02sengupta-info.pdf.

281 See, e.g, Judgments, United States v. Esquenazi, supra note 44, ECF
Nos. 182, 816, 824 (judgments against foreign official defendants).

282 Criminal Information, United States v. SSI Int'l, supra note 235
(alleging violations of 18 U.S.C. §§ 1343, 1346); Plea Agreement, United
States v. SSI Int'l, supra note 235, (Oct. 10, 2006), available at hetp://
www.justice.gov/ criminal/fraud/ fcpa/ cases/control-inc/07-24-09cci-
plea-agree.pdf.

283 See Ex-Im Bank, Form of Exporter’s Certificate, EBD-M-56 (Jan.
2007), available at http ://www.exim.gov/pub/ins/pdf/ebd-m-56.pdf.
284 See 18 US.C. § 1001.

78592 C.ER. §§ 130.2, 130.9.

286 For example, in United States v. BAE Systems ple, BAE pleaded guilty
to conspiring to defraud the United States by impairing and impeding its
lawful functions, to making false statements about its FCPA compliance
program, and to violating the AECA and ITAR. BAE paid a $400
million fine and agreed toan independent corporate monitor to ensure
compliance with applicable anti-corruption and export control laws.
Criminal Information and Plea Agreement, United States v. BAE Sys.
ple, No. 10-cr-35 (D.D.C. Mar. 1, 2010), ECF Nos.1, 8, available at
http ://www.justice.gov/criminal/fraud/fcpa/cases/bae-system/02-0 1-
10baesystems-info.pdf and http ://www.justice.gov/ criminal/fraud/ fcpa/
cases/bae-system/03-0 1-1 Obaesystems-plea-agree.pdf. In an action based
on the same underlying facts as the criminal guilty plea, BAE entered

a civil settlement with the Directorate of Defense Trade Controls for
violations of AECA and ITAR, including over 2500 ITAR violations
that included a failure to report the payment of fees or commissions
associated with defense transactions and failure to maintain records
involving ITAR-controlled transactions. BAE paid $79 million in
penalties, and the State Department imposed a “policy of denial” for
export licenses on three BAE subsidiaries involved in the wrongful
conduct. Consent Agreement between BAE Sys. ple and Defense Trade
Controls at 17-20, Bureau of Political-Military Affairs, U.S. Dept. of State
(May 16, 2011), available at http ://www.pmddte.state.gov/compliance/
consent_agreements/ pdt/ BAES_CA. pdf; Proposed. Charging Letter, In
re Investigation of BAE Systems ple Regarding Violations of the Arms
Export Control Act and the International Traffic in Arms Regulations,
US. Dept. of State (May 2011), available at http://www.pmddtc.state.
gov/ compliance/ consent_agreements/ pdt/ BAES PCL. pdf.

8726 US.C. § 162(c)(1); see also Plea Agreement, United States v. Smith,
No. 07-cr-69 (C.D. Cal. Sept. 3, 2009), ECF No. 89, available athttp://
www.justice.gov/ criminal/fraud/ fcpa/ cases/smithl/ 09-03-09smith|-plea-
agree.pdf; Criminal Information, United States v. Titan Corp., supra note
185.

288 See USAM § 9-27.000.

8 See USAM § 9-27.420 (setting forth considerations to be weighed
when determining whether it would be appropriate to enter into plea
agreement).

2 See USAM § 9-28.000 et seq.

| See USAM § 9-28.710 (discussing attorney-client and work product
protections).

292 See http ://www.sec.gov/ divisions/enforce/ enforcementmanual.pdf.
3 See USAMS§ 9-28.300.A; see also USAM § 9-28.700.B (explaining
benefits of cooperation for both government and corporation).

24 See USAM § 9-28.900 (discussing restitution and remediation). The
commentary further provides that prosecutors should consider and weigh
whether the corporation appropriately disciplined wrongdoers anda
corporation’s efforts to reform, including its quick recognition of the
flaws in the program and its efforts to improve the program. Td.

25 See USAM §§ 9-27.230, 9-27.420.

28US, SENTENCING GUIDELINES § 8B2.1(b)(7) (2011).

7 Td. § 8C2.5(F)(2) (2011).

?8US. SEC. AND EXCHANGE CoMM., REPORT OF INVESTIGATION
PURSUANT TO SECTION 21(A) OF THE SECURITIES EXCHANGE ACT
OF 1934 AND COMMISSION STATEMENT ON THE RELATIONSHIP

OF COOPERATION TO AGENCY ENFORCEMENT DEcISIONS, SEC
Rel. Nos. 34-44969 and AAER-1470 (Oct. 23, 2001) [hereinafter
Seaboard Report] available at http ://www.sec.gov/litigation/
investreport/ 34-44969. htm.

°US. SEC. AND EXCHANGE CoMM., PoLICy STATEMENT
CONCERNING COOPERATION BY INDIVIDUALS IN ITS
INVESTIGATIONS AND RELATED ENFORCEMENTS ACTIONS, 17
CER. § 202.12 (Jan. 10, 2010), available at http ://www.sec.gov/rules/

HOUSE_OVERSIGHT_022617
"
IMAGES-008-HOUSE_OVERSIGHT_024545.txt,"k12 considers the majority of its entire curriculum proprietary, whether k12 is branding existing materials
with its logo and modifying the associated lesson plans or creating the entire course from scratch. k12’s
K-8 curriculum includes thousands of lessons that consist primarily of existing, high-quality materials that
k12 has modified to better suit the needs of student, parent and teacher.

13.7. Management and Board of Directors

The following table sets forth certain information regarding k12’s management and directors. For more
detailed biographical information, see Appendix A.

Name Position

Ron Packard Chairman and Founder / acting Chief Executive Officer and
member of the Board of Directors

John Baule Executive Vice President and Chief Financial Officer

Bror Saxberg Senior Vice President of Learning and Content

Thomas Boysen Senior Vice President and Chief School Officer

Charles Zogby Senior Vice President of Education Policy

Peter Stewart Vice President of the Charter School Division

Bryan Flood Vice President of Government Relations

John Holdren Senior Vice President of Curriculum

Name Position

Arthur Bilger Managing Member of Shelter Capital Partners

Steven B. Fink Chief Executive Officer of Lawrence Investments, LLC

Chester Finn President of the Thomas B. Fordham Foundation

Lowell J. Milken President and Chief Executive Officer of KUE

Andrew H. Tisch Chairman of Executive Committee of Loews Corporation

Thomas Wilford Chief Executive Officer of the J.A. and Kathryn Albertson
Foundation, Inc.

Liza Boyd Vice President Constellation Ventures / Bear Stearns Asset
Management

13.8. Summary Financial Information and Projections Discussion

The following summary historical financial data and the percentages of expected 2006 revenue presented
in the headings above are based on historical financial statements. The following projected financial data
presented below is based on assumptions management believes to be reasonable, but which are
inherently uncertain and may not be realized. k12’s ability to perform as projected depends on a number
of variables that cannot be predicted with certainty and actual performance could be adversely affected
by a number of factors, including those described in “Risk Factors,” particularly the risk factor related to
projections elsewhere in this Memorandum. Also see “Forward-Looking Statements.”

112

HOUSE_OVERSIGHT_024545
"
IMAGES-004-HOUSE_OVERSIGHT_017414.txt,"4.2.12
WC: 191694

who had performed in South Africa. To me, this blacklisting constituted reverse McCarthyism,
even if it is in the interest of a just cause.

I wrote an article in 1985 exposing and condemning this new liberal McCarthyism. It included the
following:

This time, blacklisting is being practiced in the name of a progressive cause—the
antiapartheid movement.

It turns out that the Register of Entertainers to be shunned is officially published by the
United Nations Special Committee Against Apartheid “as a means to promote the cultural
boycott of South Africa.” It included the names of entertainers and actors who have
performed in South Africa since 1981. Anyone whose name appears on the list is
prohibited from performing at any function sponsored by the United Nations. Other
organizations also use the U.N. blacklist to screen politically unacceptable artists.

The introduction to the U.N. blacklist boasts that “a number of city counsels and other
local authorities have decided to deny use of their facilities for entertainers” whose names
appear on the blacklist.

No advance notice is given to persons who are to be blacklisted, and the list includes some
performers who “were not aware of the cultural boycott.”

Among those currently on the blacklist are Ray Charles, Linda Ronstadt, Frank Sinatra,
the Beach Boys, Cher, Goldie Hawn, Sha Na Na, Ermest Borgnine, and the British rock
group Queen.

The recent flap that publicized the existence of the U.N. blacklist involved a proposed
concert to raise money for African famine relief. Among those volunteering to perform
was the rock group Chicago. But Chicago was on the blacklist. And because of the
absolute prohibition against using blacklisted artists at U.N.-sponsored events, plans for
the concert had to be postponed. It is ironic that some black African children may die of
hunger because of the U.N. blacklist.

The American Civil Liberties Union recently complained loudly when the Boston
Symphony Orchestra canceled a concert with Vanessa Redgrave because of her support
for and complicity with...terrorists. Though no blacklist was published, the ACLU
decried the “blacklisting” of Ms. Redgrave because of her politics as a violation of her
civil liberties. I am waiting to hear from the ACLU on the U.N. blacklist.

I never heard from the ACLU, but I did hear from Woody Allen, to whom I sent my article
because his film The Front had exposed the evils of blacklisting and he was also a strong
opponent of apartheid. He wrote me that:

a27

HOUSE_OVERSIGHT_017414
"
IMAGES-011-HOUSE_OVERSIGHT_031905.txt,"30

can decay over time. They can get too rigid, they can fail to adapt,
and if they do, then they’re going to get into trouble, just like
authoritarian systems. The other issue, which we’ve already touched
on, is contingency in history. So the route to getting into modernity
is, I now think, full of a lot of accident, and so it’s not as if there’s
this inevitable historical process that driving us toward the present. I
think it should make us both more appreciative of the fact that we’ve
gotten to the present and also more aware of the fragility of modern
institutions.

SHAFFER: A lot of people have related that — your focus on the
contingency of political order, and our ability to construct
democracies — to your “falling-out” with neoconservatism. Was that
“falling out” just local to some of the failures and disappointments of
the Bush years or was it a break with the intellectual project as a
whole?

FUKUYAMA: It was more a practical dispute over methods. I didn’t
think U.S. hard power was an effective method [for advancing liberal
democracy], and the Bush administration hadn’t really thought
through the implications of invading Iraq. I still think there are ways
that the United States can help promote democracy, but it’s a slow
and long-term process. For example, I’m on the board of the National
Endowment for Democracy, which had an important role in
supporting solidarity in Poland in the 1980s, and in Serbia, and the
Orange Coalition in Ukraine. So there are ways in which we’ve
encouraged democratic forces around the world. I still believe in that
mission and project. But I don’t think the Bush administration
actually invaded Iraq to promote democracy. They had security
objectives in mind, and they added the democracy argument as an

HOUSE_OVERSIGHT_031905
"
IMAGES-007-HOUSE_OVERSIGHT_023509.txt,"23

make investments and provide economic opportunities for the
region’s youth, while technology companies interested in new
markets could partner with anticorruption groups to aid political
mobilization and increase government accountability and
transparency. Hollywood and Bollywood writers and producers
should lionize the democratic heroes who took to the streets to
challenge the orthodoxy of fear.

A focused campaign to shape the course of reform would align our
values and interests with the aspirations of the protesters. More
important, it would answer the challenge from Al Qaeda to define
what happens next and reframe the tired narratives of the past.

In 2005, Mr. Zawahri anticipated this battle for reform and noted that
“demonstrations and speaking out in the streets” would not be
sufficient to achieve freedom in the Muslim world. If we help the
protesters succeed, it will not only serve long-term national security
interests but also mark the beginning of the end of Al Qaeda.

Juan C. Zarate, a senior adviser at the Center for Strategic and

International Studies, was the deputy national security adviser for
combating terrorism from 2005 to 2009.

HOUSE_OVERSIGHT_023509
"
IMAGES-003-HOUSE_OVERSIGHT_015005.txt,"compromise, the following which has been recently developing into highly coordinated murder ""ops"":

(| write) ""The progress that was made from the absorbing of my (small) network (and this through
sources and methods - money and other pleasureful compensations given to those willing to
participate in and/or coordinate violence against me and my loved ones to include children leading
only to now their enabled targeting and the absorbing of whatever may be their networks - well, you
see below (and this only the very tip of the iceberg) how many people they've been able to engulf and
what advances have been made by the quite elaborate criminal class employing these tactics; and
one also begins to better understand the events surrounding Justice Scalia's passing and what's to
come for the 35 guests in Scalia's private party. As for Scalia's passing, it was decidedly suspicious
as noted by William Ritchie: (The Washington Post prints) “As a former homicide commander, | am
stunned that no autopsy was ordered for Justice Scalia,” William O. Ritchie, former head of criminal
investigations for D.C. police, wrote in a post on Facebook on Sunday... Ritchie also raised questions
about the marshals’ actions: “How can the Marshal say, without a thorough post mortem, that he was
not injected with an illegal substance that would simulate a heart attack... Did the US Marshal check
for petechial hemorrhage in his eyes or under his lips that would have suggested suffocation? Did the
US Marshal smell his breath for any unusual odor that might suggest poisoning? My gut tells me
there is something fishy going on in Texas.”

As for SAIC, the following also pertains:

(| write) ""If you first see SAIC as what's called a systems integrator (author Tim Shorrock's phrase),
and also the formerly married Bud and Sue Horton and their two grown sons Matthew Horton and
Ben Lanier as aids of an implementation, you can better see the bigger picture:

(1) Sue Horton left IBM in early 2007-ish for an executive position at Tetra Tech which soon entered
into joint venture with SAIC (Sue's employer prior to IBM, btw) on an enormous (billion dollar) 2011
Hillary Clinton State Department award (http://(www.prnewswire.con/.../saic-tetra-tech-joint-venture-
a...);

(2) that Bud Horton left IBM in early 2009-ish for an executive position at Accenture which soon
thereafter entered into joint venture with SAIC spin-off Leidos, and Cerner, on an enormous (billion
dollar) 2015 DoD award (http://www.healthcareitnews.com/.../dod-names-ehr-contract-wi...);

(3) that the Sue Horton contract was used to grow and fortify the Afghan heroin trade (as well as
corrupt law enforcement) although the stated intention was of course the opposite... (""[SAIC and
Tetra Tech's] joint venture, Integrated Justice Systems International, LLC (IJSI), has been awarded a
contract to provide worldwide civilian police and criminal justice assistance to the U.S. Department of
State's Bureau of International Narcotics and Law Enforcement Affairs (INL)... [specifically} to provide
INL with program management, criminal justice, and life and mission support to countries emerging
from conflict or otherwise facing instability challenges. Under this new contract, IJSI will provide
technical assistance, training, logistics and infrastructure services to support the Department of
State's efforts to strengthen criminal justice systems in select partner countries.”)... yet, just months
shy of contract end, the NY Times reported: ""Tasked With Combating Opium, Afghan Officials Profit
From It;"" ""Penetrating Every Stage of Afghan Opium Chain, Taliban become a Cartel;"" and ""Corrupt
Combatants Fight for Control of Lucrative Afghan Drug Trade;"" see also here an overview of the
growth of Afghan opium production from the start of the US occupation (2001) to the present, and
especially from contract start (2011) to end (2016): http://www.globalresearch.ca/the-spoils-of-war-
afghanist.../91;

(4) and that the award Bud Horton helped secure just as Sue's contract was coming to an end was
not only born from what looks like Franklin Scandal compromises, but it is this contract that seems

HOUSE_OVERSIGHT_015005
"
IMAGES-012-HOUSE_OVERSIGHT_033372.txt,"From: Richard Kahn

Sent: 4/26/2018 7:55:58 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
ok

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue 4th Floor
New York, NY 10022

On Apr 26, 2018, at 3:55 PM, jeffrey E. <jeevacation@gmail.com> wrote:

Careful. Max might call

On Thu, Apr 26, 2018 at 3:34 PM Richard Kahn > wrote:

direction of trump? criminal tax fraud??

Eehe

https://therealdeal.com/2018/04/26/shvo-settles-tax-evasion-case/?utm_source=Theli&.. as

Lerts&utm_campaign=9f5d9ae9f9-
EMAIL CAMPAIGN 2017 06 06&utm medium=email&utm term=0 6e806bb87a-9f5d9ae9f9-385784701

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue 4th Floor
New York, NY 10022

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may

HOUSE_OVERSIGHT_033372
"
IMAGES-007-HOUSE_OVERSIGHT_024266.txt,"Readings:
The Problem

Eugene Volokh, “No, there’s no ‘hate speech’ exception to the First Amendment,” The
Washington Post (May 7, 2015)

https://www.washingtonpost.com/news/volokh-conspiracy/wp/2015/05/07/no-theres-no-h
ate-speech-exception-to-the-first-amendment/?utm_term=.78330882267d archived at

https://perma.cc/ASES-HMQE.
Jon Ronson, “How One Stupid Tweet Blew Up Justine Sacco’s Life,” The New York

Times Magazine (February 12, 2015)
http://www.nytimes.com/2015/02/15/magazine/how-one-stupid-tweet-ruined-justine-sacc
os-life.html?_r=0 archived at httos://perma.cc/3AHS-Z9EU.

Adrian Chen, “The Agency,” The New York Times Magazine (June 2, 2015)
http://Awww.nytimes.com/2015/06/07/magazine/the-agency.html?_r=0 archived at
https://perma.cc/BER2-TD6E.

Reeves Wiedeman, “The Sandy Hook Hoax,” The New York Magazine (September 5,
2016) http://nymag.com/daily/intelligencer/2016/09/the-sandy-hook-hoax.html archived
at https://perma.cc/T9YD-U8Z9.

Gilad Lotan, “Fake News Is Not the Only Problem,” Points (November 22, 2016)
https://points.datasociety.net/fake-news-is-not-the-problem-f00ec8cdfcb#.kwt01pk4h

archived at https://perma.cc/B3FK-FJVX.
Craig Silverman, “How Teens In The Balkans Are Duping Trump Supporters With Fake

News,” BuzzFeed (November 3, 2016)

https://www.buzzfeed.com/craigsilverman/how-macedonia-became-a-qlobal-hub-for-pro-
trump-misinfo?utm_term=.nlpEm5kbY#.apomjqWiID archived at

https://perma.cc/SB2G-9XUM.
Caitlin Dewey, “Facebook fake-news writer: ‘I think Donald Trump is in the White House

because of me,” The Washington Post (November 17, 2016)
https://www.washingtonpost.com/news/the-intersect/wp/2016/11/17/facebook-fake-news
-writer-i-think-donald-trump-is-in-the-white-house-because-of-me/?utm_ term=.e2d9c7b0

d5e6 archived at https://perma.cc/B6S4-UBJC.

The Search for Solutions

Andy Greenberg, “Inside Google’s Internet Justice League and Its Al-Powered War on
Trolls,” Wired (September 19, 2016)
https://www.wired.com/2016/09/inside-googles-internet-justice-league-ai-powered-war-tr

olls/ archived at https://oerma.cc/K56R-MGBX.
Dia Kayyali and Danny O’Brien, “Facing the Challenge of Online Harassment” Electronic

Frontier Foundation (January 8, 2015)
https://www.eff.org/deeplinks/20 15/0 1/facing-challenge-online-harassment, archived at
https://perma.cc/98RS-L876.

State v. Robert Bishop, 223PA15 (June 10, 2016)

https://h2o.law.harvard.edu/collages/42536.

HOUSE_OVERSIGHT_024266
"
IMAGES-003-HOUSE_OVERSIGHT_015763.txt,"Understanding 73

“On the Internet, nobody knows you're a dog.”

New Yorker Cartoon

With the anonymity the Internet provides we can imagine all sorts
of strange scenarios if the Turing test could be passed. You would have
no way of knowing what you were talking to. The New Yorker ran a
cartoon back in 2000. “On the Internet no one knows you are a dog?” We
come across a similar problem the other way around when we encounter
bad customer support. A few years ago, while trying to get an answer
to a computer problem, I became convinced the thing responding to
my emails was a machine. The company did use machine responder
technology so it could well have been. I asked it to prove it was human
by putting the word marmalade into an English sentence and fixing my

HOUSE_OVERSIGHT_015763
"
TEXT-002-HOUSE_OVERSIGHT_031813.txt,"From: Richard Kahn 
Sent: 7/13/2018 6:46:14 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: AVG° 
Importance: High 
i do not believe so.. 
i will look into exact trades.. 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
tel I 
fax 
cell 
On Jul 13, 2018, at 2:41 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
Did he sell naked puts?? 
On Fri, Jul 13, 2018 at 2:35 PM Richard Kahn > wrote: 
i believe he is married to broadcom as has he got stuck with stock on both 4,000 lots from selling puts.. 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022  
tel 
fax 
cell 
On Jul 13, 2018, at 2:18 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
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 wrote: 
HOUSE OVERSIGHT 031813 
My initial recommendation this morning was to buy the $200 Aug puts. I 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 I 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 
Alpha Group Capital LLC 
142 W 57th Street, 11th Floor, New York, NY 10019 
<image001.jpg> 
From: jeffrey E. <jeevacation@gmail.com> 
Sent: Friday, July 13, 2018 1:55 PM 
To: Paul Barrett < > 
Cc: Richard Kahn ‹> 
Subject: Re: AVGO 
lye had enough! !!! Which puts ??? 
On Fri, Jul 13, 2018 at 1:40 PM Paul Barrett < 
MillaM 
> wrote: 
Any thoughts on the AVGO Aug puts? Stock trading at 204.50. 
Aug puts now $6.50 
Paul Barrett 
Alpha Group Capital LLC 
142 W 57th Street, 11th Floor, New York, NY 10019 
<image003.jpg> 
From: Paul Barrett 
Sent: Friday, July 13, 2018 9:42 AM 
To: jeffrey E. <jeevacation@gmail.com>; Richard Kahn < 
Subject: RE: 
Jeffrey 
> 
HOUSE OVERSIGHT 031814 
I understand your frustrations and appreciate your willingness to figure out a solution. I have some ideas 
which I will send you over the weekend if that is OK. 
Re Broadcom: the stock is up $1.20 at $211.50. After the initial shock reaction of yesterday, there has been 
a lot of focus on the cost synergies etc. but very little conviction in revenue opportunities. However until we 
hear from management as to the overall intentions of the deal, uncertainty will linger. 
This morning the pricing is as follows: 
Aug 200 Puts cost $4.10 
Sept 200 Puts cost $7.90 
Earning are on 08/30. So worst case is the uncertainty lingers until then which would argue to buy the Sept 
puts. However I still prefer buying the Aug puts as I would fully expect more clarity from management 
before August expiry. 
Paul 
Paul Barrett 
Alpha Group Capital LLC 
142 W 57th Street, 11th Floor, New York, NY 10019 
<image003.jpg> 
From: jeffrey E. <jeevacation@gmail.com> 
Sent: Friday, July 13, 2018 7:11 AM 
To: Paul Barrett < 
Subject: 
>; Richard Kahn < 
> 
Im not angry, sorry, it is sad. it is apparent that you have no experience trading. we both made a 
mistake. . the spy trades were the results of a rank amatuer. . you took a postion on the direction of the 
market. ok. you decided to play it extra short time and short. . why? becaue the options are cheaper. 
? knowing full well that time premium was running. . first silly move. . I allowed as promised to 
give you authority. . you set a target. . it hit the traget, you moved in back. based on media reporting on 
trump visit? you didnt act. the market dipped and you panicked. . AMATEUR. wrong options wrong 
timing , no discipline and as a percentaage of investment, a one day dip fof 25%. wanting to buy the 
highter strike , is ok. but why the same month? why the same moment. why the same index. . sorry. I 
have taught this for many years. and your grade is an F. not one good move in many. . re 
broadcom. the crack happend in the morning, options were higher. no alternative presented. no 
analysis. , this is no way to manage money. I have lost a great deal of money hoping you would be able 
to do as you promised you could . would. . Had you told me, jeffrey I d like to try a new job as a 
HOUSE OVERSIGHT 031815 
manager lets start slow I can learn. i would be less annoyed. you told me you had great confidence knew 
the risks and truly believed you would be able to raise money .do well and prosper. . If it were not 
you, this would have ended months ago.. we should work on a solution. not sure yet what shape it takes. 
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 
HOUSE OVERSIGHT 031816 
The information contained in this communication is 
confidential, 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 031817 
"
IMAGES-012-HOUSE_OVERSIGHT_033414.txt,"From: Edward Rod Larsen

Sent: 10/30/2018 11:00:04 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Essays

Importance: — High

Essay 1.

Coming from an international background, and having lived in Oslo, Tel Aviv, New York and London by the age of eighteen, I
believe that the international profile of NYU will provide the best environment for my college education, with the added benefit of
returning to the place where I’ve spent most of my childhood and where my mother will be posted as Norwegian Ambassador to the
UN in January 2019.

NYU’s Art History department appeals to me because of its wide range of courses, from the global art of antiquity to the
contemporary. My passion is the Italian Renaissance and the rich history behind it, especially the works of 15th century masters such
as Masaccio and Bellini. Some of the courses that NYU offers such as “Early masters of Italian Renaissance painting” and “Florentine
Villas: An Interpretation Based on Historical, Social Factors” are, therefore appealing to me. What I find exciting, is not only the
visual aesthetics and analysis of these masterpieces, but also the manner in which the Renaissance emphasised scientific and.
economic innovation, areas of study the Global Liberal Arts programme would offer. NYU’s unique campus in Florence would give
me a once in lifetime opportunity to spend a year immersing myself in the art, culture and history of Italy. This would be an exciting
experience to have while studying for a Bachelor’s degree in Art History, and would compliment my main interests in the subject.

As one of the prime cultural centres in the world, NYU’s location in NYC is the perfect place to broaden knowledge within
contemporary art. Iam very much looking forward to visiting the Whitney Biennia this May. In addition the New museum, which
shows a lot of the kind of work I find interesting is a short walk away from campus.

Taking advantage of being based in central London for the past year, I have completed the Chairman’s Programme at Christies, work
experience at the Courtauld Gallery and I will be working at Maddox Gallery in the near future. Similarly, I want to take advantage of
being based in NYC to gain as much experience as possible. I have chosen to apply Early Decision to NYU as it is the only American
university I will be applying to, as there is no better place to obtain experience of the contemporary art world than New York City.

Essay 2.

From the age of extremes to the age of bewilderment

What captivates me more than anything else 1s the different ideological phases of the 20th century and how art can be used as a
tool of advancement and reflection on ideological and political developments.

My fascination began when I read; Eric Hobsbawm’s “Age Of Extremes” and has since developed through books such as
Benjamin Carter Hett’s “The Death Of Democracy” and Yuval Harari “A Brief History Of Tomorrow” and “21 Lessons For
The 21st Century”.

In the years after the First World War, until the end of the Second World War, three political models for shaping the future of
nation states emerged; Fascism, Communism and liberal democracy. These all offered great ideas for the future of the world.
Fascism and Communism shared some common features: authoritarian, strong leaders and a belief that their revolutions had to
be carried through with violence. This led to the mass murders in the Nazi concentration camps and 1n the Soviet Gulags.

In the mid war periods, the “Litfass columns” that were originally designed to carry advertising, became the outdoor galleries
for the war of ideologies. The political poster was born. High quality posters from every political party in Germany popped up
on the columns. Hitler’s propaganda chief Géebels stated that the Nazi election campaign should be run through speeches and
posters. The other parties responded in kind. An art form thus became an essential political tool in the battle for votes. The
propagandist Art used by the Nazis and communists alike was essential in helping sell their message to the masses.

HOUSE_OVERSIGHT_033414
"
IMAGES-004-HOUSE_OVERSIGHT_017372.txt,"4.2.12
WC: 191694

In the middle of the meeting, we received notice that Woody’s lawyers, the very ones we were
discreetly negotiating with, had publicly filed a lawsuit against Mia, and that Woody was about to
hold a press conference in which he was going to accuse Mia of making up stories about him.

I was shocked at this duplicity. I’m not used to dealing with lawyers who mislead their opponents
in this way.

Woody Allen’s suit was seeking custody of several of the children Mia had originally adopted, as
well as the one biological child they had conceived together. IT was an extraordinarily stupid
move on the part of Allen’s lawyers, because at the time he filed the custody suit, Woody Allen
barely knew the children and their siblings, had no idea who their friends were, did not know the
names of their pediatricians and had virtually nothing to do with their upbringing. Mia Farrow, on
the other hand, was a hands-on mother who was deeply involved in every aspect of her children’s
lives.

At the trial, Woody’s lawyers pulled off an even more bone-headed maneuver. They claimed that
Levett and I, by seeking to resolve the matter quietly, were “blackmailing” Woody into settling
the case favorably to Mia. This was a ridiculous claim, as the judge found. Courtroom observers
could not believe that Woody’s lawyers would force me to appear as a witness, knowing that I
would surely side with Mia in her efforts to maintain custody over her children. But having been
falsely accused of trying to blackmail Woody, I had no choice but to testify as to precisely what
had transpired. No one could understand why Woody’s lawyers had decided on a tactic that
would make me a witness. But I knew something they didn’t know, which led me to conclude
that they put me in this position not out of a desire to help Woody, since there was no way my
testimony could in any way support his claim. They accused me of blackmail in an effort to hurt
me. That, at least, was my assessment, based on what I knew.

Why would they want to hurt me rather than help their own client? Because the senior partner of
the law firm representing Woody, a former prosecutor named Robert Morvillo, was seeking
revenge against me for my having prevented him from becoming the United States Attorney for
the Eastern District of New York. That was his dream job and he was about to get it when I
exposed his prosecutorial misconduct in a case I was litigating. He had essentially bribed a key
government witness with money that was owed to the creditors of a bankrupt corporation. He
had arranged for the witness to obtain the bankrupt funds which he knew had been secreted in a
Caribbean account. In doing so, Morvillo had committed two serious crimes: bribing a witness
and facilitating the stealing bankrupt funds. The federal district judge who presided over the case
wrote a scathing opinion condemning Morvillo’s actions. That opinion appeared as a front page
story in the Village Voice, thus scuttling any chance Morvillo had of receiving a federal
appointment. Morvillo was so angry that he told the Village Voice that if he ever saw me again,
he would “deck” me. He never had a chance to throw a punch at me, and so he decided, in my
opinion, to use this lawsuit as a way to deck me. I'll bet that he never told Woody Allen of his
hidden agenda.

As any decent lawyer would expect, the ploy backfired. My letter to Woody, coupled with the

testimony of other lawyers who were involved in the negotiations, proved that my interest was in
protecting the children not in blackmailing Woody. I testified that I was seeking:

285

HOUSE_OVERSIGHT_017372
"
IMAGES-004-HOUSE_OVERSIGHT_018041.txt,"Case 1:19-cv-03377 Document 1-16 Filed 04/16/19 Page 3 of 6

deal that gave the eccentric multimillionaire — and co-conspirators employed by Epstein —
federal immunity in 2008.

Dershowitz, 80, told the Miami Herald that he has never met Ransome nor has he ever had sex
with her. He accused Ransome’s attorney, powerhouse lawyer David Boies, of inventing the
story and using her and another woman, Virginia Roberts, to frame him. Roberts asserted in a
federal court affidavit in 2015 that Epstein forced her to have sex with Dershowitz when she was
16 years old.

“T am the victim. David Boies and these women are the perpetrators,” Dershowitz said. “They
have willfully and deliberately concocted stories in order to make money — millions and
millions of dollars. And I will not rest until the entire story comes out,” said Dershowitz, a
professor at Harvard Law School and frequent Fox news guest commentator.

Nowhere in the court case or the transcript does Ransome or anyone else allege that Ransome
had sex with Dershowitz — only that she was directed to.

The Ransome settlement, which is confidential, comes two weeks after Epstein settled another
lawsuit in Palm Beach, filed by an attorney who represented several women who said they were
coerced into sex acts with Epstein when they were underage. As part of the settlement, Epstein,
65, issued an apology to Fort Lauderdale attorney Bradley Edwards, admitting that he leveled
false claims in a lawsuit as part of an effort to intimidate Edwards into abandoning his
aggressive advocacy for the women, who are now in their late 20s and early 30s.

The developments follow a series of stories published by the Miami Herald in late November
that detailed how state and federal prosecutors worked with Epstein’s lawyers to conceal the
extent of Epstein’s crimes, and secretly negotiated an unusual plea agreement that allowed him
to escape federal sex trafficking charges that could have sent him to prison for life. The
agreement, by design, was kept from his victims so that they could not appear at his sentencing.

Last week, more than two dozen lawmakers in Washington demanded a federal investigation
into that plea deal, which was negotiated, signed and sealed by former Miami U.S. Attorney
Alexander Acosta, now President Donald Trump’s secretary of labor.

Acosta has not commented on the Herald story or on the calls
for a probe into how he handled the Epstein case.

This week, a decade after defending Epstein, Dershowitz once
again found himself in the spotlight amid the new allegations,
mentioned briefly in a court filing on Nov. 28, and first
reported on Tuesday by the New York Daily News.

During a Nov. 7 hearing, Maxwell’s lawyer, Laura Menninger,
mentioned Dershowitz’s name as among those “third parties”
that Ransome claims she was instructed to have sex with,
according to a transcript of the hearing obtained by the Herald.

On Tuesday, after the Daily News published its story,
Dershowitz lashed out in dozens of posts on Twitter,
denouncing Ransome as “delusional” and claiming that her

Alan Dershowitz says he has never met
lawyer, Boies, was retaliating against him because Dershowitz the woman who alleges in a lawsuit she
had filed a bar complaint against him. was ordered to have sex with influential
men, including the famous lawyer. John
Lamparski GETTY IMAGES/TNS

“Attorney David Boies threatened that unless I withdrew a bar
complaint I had filed against him for falsely accusing me of
sexual misconduct, he would find another woman to accuse me of similar misconduct. He has

https://www.miamiherald.com/latest-news/article223315075.html

HOUSE_OVERSIGHT_018041
"
IMAGES-009-HOUSE_OVERSIGHT_027363.txt,"Sender: Ei

Time: 07/29/18 03:46:18 PM (554597178)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: O00A4860C-0D16-423C-9F13-F5E1A47FE015

Message: K

Time: 07/29/18 03:46:34 PM (554597194)
Flags: 1126401
Is Read: Yes

Is Invitation: No

GUID: 0299EC7A-E9DE-4335-ADC8-D1DC62012BBB

Message: Blowing up The Koch Brothers today

Sender: e:jeeitunes@gmail.com

Time: 07/29/18 03:52:13 PM (554597533)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 89B9600F-9BAA-4925-989D-45E826F17069

Message: david koch has serious dementia, sitting at home with 3 male nurses

Sender: e:jeeitunes@gmail.com

Time: 07/29/18 06:42:47 PM (554607767)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 2H486470-F3D1-4A01-BEBF-1F5E97A709E4

Message: Its only Charles. - more dollars than sense

Sender: Ei!

Time: 07/29/18 06:52:34 PM (554608354)
Flags: 1060865

Is Read: Yes

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Message: Don't know how to win

Sender: e:jeeitunes@gmail.com

Time: 07/29/18 06:54:04 PM (554608444)

HOUSE_OVERSIGHT_027363
"
IMAGES-006-HOUSE_OVERSIGHT_021031.txt,"While Government Spending on Education Increased 60% Over Past 50 Years, At

Margin, Government Spent More on Healthcare...

USA Total Government Healthcare vs. Education Spending as % of GDP, 1960 — 2008

Spending as % of GDP

——Total Government (Federal + State + Local) Spending on Health Care

—— Total Government (Federal + State + Local) Spending on Education

0 % rPTrtTtfrr)rerrsrtTheTT TTT TT TT TT oT oT oT oT OT TOT OTT OT TT PFO POT TOT TOT TT TT TT TT TT TT TT TTT TT (1

1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008

Note: Total government spending on healthcare includes Medicare, Medicaid and other programs and total government
spending on education includes spending on pre-primary through tertiary education programs. Source: Dept. of
Education, Dept. of Health & Human Services.
(@)E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 379

Despite Increased Government Spending, USA Education is Falling Behind —
Math / Science Tests Scores Well Below OECD Average
& Getting Worse Though Self Confidence Rising

USA Ranking Out of 30-34* OECD Countries

in PISA (Program for International Student Assessment for 15-Year Olds)

2000 / 2003 / 2006 / 2009
2000 2003 2006 aug 2008
Trend

Mathematics 18 23 25 | |
Science 14 19 21 |
Reading 16 15 --** T
Self

Confidence’ - "" 7 t

Note: *30 OECD countries participated in 2000 / 2003 PISA, 34 OECD countries participated in 2006 / 2009 PISA. 1) Confidence is the self-perceived efficacy in
learning abilities (for year 2000); mathematical problem solving abilities (for year 2003) and scientific problem solving abilities (for year 2006). USA tied in
confidence ranking with Canada, Hungary, Slovakia, Switzerland and Liechtenstein in 2003 and tied with Poland and Canada in 2006. **2006 reading scores for

KP USA were rendered invalid because of a printing error in questionnaire instructions. Source: OECD.
www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 380

HOUSE_OVERSIGHT_021031
"
IMAGES-009-HOUSE_OVERSIGHT_028050.txt,"another Israeli unit broke through to the Beirut-Damascus road. On the far side
of Lebanon’s capital city, they linked up with Bashir Gemayel’s Phalangists.

I remember a mix of feelings at the time. Partly, amazement that through
sheer determination and political maneuvering, Arik seemed to have pulled off
his grand plan — or at least the Lebanon part of it. Yes, we’d ended up fighting a
kind of half-war against the Syrians which, though we’d won it, still left 30,000
of Assad’s men in Lebanon. And they showed no signs of leaving. Our main
strategic threat north of the border was not, in fact, the Palestinians. Syria was
in military control of Lebanon and, after the peace with Egypt, our most
powerful adversary. And no matter what Big Pines might have achieved, it
seemed to clear to me that the Syrians would be free simply to replace the
weaponry we’d destroyed and fight another day.

In Arik’s mind, Bashir Gemayel would soon be in a position to fix that. But
beyond my skepticism from having met some of his boy officers in Tel Aviv, I
couldn’t see how that would work. I strained to imagine Gemayel daring to
form what would amount to a formal alliance with Israel and ordering the
Syrian troops to leave. And given what would be at stake for Damascus, I
certainly couldn’t see the Phalangists being able to drive them out by force.

The more immediate, open question involved Arafat and the Palestinians.
Our other two invasion forces had driven almost all the PLO fighters out of
south Lebanon, though not without costs and casualties. Most of the
Palestinians, however, had retreated north to their de facto capital, the
southwestern neighborhoods of Beirut. The idea of a ground assault — street-to-
street battles in an area packed with fighters, weapons and tens of thousands of
civilians — didn’t bear thinking about. After the war, some of the officers around
Beirut said Arik seemed to hoping that the Phalangist milita would go into the
overwhelmingly Muslim western side of Beirut. At one point, he was even
considering an Israeli attack. Fortunately, given the Phalangists’ record of
violence bordering on savagery during the Lebanese civil war, Bashir Gemayel
wasn’t willing to send them in. As for an Israeli assault, Begin’s ministers
weren’t ready to sign off on it, and the Americans let it be know, repeatedly,
that they were vehemently opposed to the idea.

Arik again turned to a fallback plan. He knew that Begin did share his
determination to get Arafat and the PLO out of Lebanon. Even the Americans
were ready to support such an arrangement, assuming it could be negotiated and
implemented in a way that would bring the fighting to an end. Whether by
intent or political fortune, the mere prospect of Arik further expanding the

202
HOUSE_OVERSIGHT_028050
"
IMAGES-005-HOUSE_OVERSIGHT_019716.txt,"228 | HOW AMERICA LOST ITS SECRETS

Paris, Berlin, Vienna, and Helsinki were using the Trust to deliver
arms and supplies to their partisans inside Russia. The Trust also
furnished spies’ and exiled leaders’ fake passports, which allowed
them to sneak back into Russia to participate in clandestine mis-
sions. It even undertook sabotage and assassination missions paid for
by Western intelligence services. As they learned of police stations
being blown up and political prisoners escaped from prisons, these
agents and dissidents came to further believe in the power of the
‘Trust.

By the mid-1920s, no fewer than eleven Western intelligence
services had become almost completely dependent on the Trust for
information about Russia. They also sent millions of dollars into
Russia via couriers to finance its activities.

But suddenly exiled leaders working in Russia under the aegis
of the Trust began to vanish. Then top Western intelligence agents,
including Sidney Reilly and Boris Savinkov, were arrested, and their
networks were eliminated. Instead of the Communist regime col-
lapsing, as the Trust had predicted, it consolidated its power and

© wiped out all the dissident groups. Finally, in 1929, the Trust was ©
revealed by a defector to be a long-term false flag operation run by
the Russian intelligence service. Even the Trust building, rather than
being the cover for a subversive conspiracy, was the headquarters
for the Russian secret police during this eight-year operation. The
secret police had provided the documents fed to Western intelligence,
briefed the agents who pretended to defect, published the dissident
newspapers the Trust distributed, fabricated the passports it supplied
exiles, blew up Russian buildings, and staged jail breaks to make the
deception more credible. It also collected the money sent in by West-
ern intelligence services, which more than paid for the entire decep-
tion. Because it was running the show, it could offer those lured into
the trap an opportunity to work for it as double agents. The alterna-
tive, if they refused, was to face a firing squad.

Even after the Trust itself had been fully exposed, the Russian intel-
ligence service continued to succeed with other false flag deceptions.
During the Cold War, it set up a fake underground in Poland called
WIN, modeled on the Trust. It set up false flag groups in Ukraine,
Georgia, Lithuania, Albania, and Hungary. It also had agents mas-

| | Epst_9780451494566_2p_all_r1.indd 228 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019716
"
IMAGES-002-HOUSE_OVERSIGHT_014034.txt,"authors with the precision of a Swiss watch.

Heather Jackson, your insightful editing and incredible cheer-leading has made this book a pleasure to
write. Thank you for believing in me! I am honored to be your writer. To the rest of the Crown team,
especially those whom I bother (because I love them) more than four hours a week — Donna Passannante
and Tara Gilbride in particular—you are the best in the publishing world. Doesn’t it hurt when your
brains are so big?

This book couldn’t have been written without the New Rich who agreed to share their stories. Special
thanks to Douglas “Demon Doc” Price, Steve Sims, John “DJ Vanya” Dial, Stephen Key, Hans Keeling,
Mitchell Levy, Ed Murray, Jean-Marc Hachey, Tina Forsyth, Josh Steinitz, Julie Szekely, Mike Kerlin,
Jen Errico, Robin Malinosky-Rummell, Ritika Sundaresan, T. T. Venkatesh, Ron Ruiz, Doreen Orion,
Tracy Hintz, and the dozens who preferred to remain anonymous within corporate walls. Thanks also to
the elite team and great friends at MEC Labs, including, but not limited to, Dr. Flint McGlaughlin, Aaron
Rosenthal, Eric Stockton, Jeremiah Brookins, Jalali Hartman, and Bob Kemper.

Refining the content of this book from pulp to print has been torturous, especially for my
proofreaders! Deep bows and sincere thanks to Jason Burroughs, Chris Ashenden, Mike Norman, Albert
Pope, Jillian Manus, Jess Portner, Mike Maples, Juan Manuel “Micho” Cambeforte, my brainiac brother
Tom Ferriss, and the countless others who honed the end product. I owe particular gratitude to Carol
Kline—whose keen mind and awareness of self transformed this book—and Sherwood Forlee, a great
friend and relentless devil’s advocate.

Thanks to my brilliant interns, [lena George, Lindsay Mecca, Kate Perkins Youngman, and Laura
Hurlbut, for meeting deadlines and keeping me from imminent meltdown. I encourage all publishers to
hire you before their competition does!

To the authors who have guided and inspired me throughout this process, I am forever a fan and
indebted: John McPhee, Michael Gerber, Rolf Potts, Phil Town, Po Bronson, AJ Jacobs, Randy Komisar,
and Joy Bauer.

For helping to build schools around the world and for funding projects for more than 15,000 U.S.
public school students, I wish to thank—among countless others—the following readers and friends:
Matt Mullenweg, Gina Trapani, Joe Polish, David Bellis, John Morgan, Thomas Johnson, Dean Jackson,
Peter Weck and SimplyHired.com, Yanik Silver, Metroblogging, Michael Port, Jay Peters, Aaron Daniel
Bennett, Andrew Rosca, Birth & Beyond, Inc., Doula Services, Noreen Roman, Joseph Hunkins, Joe
Duck, Mario Milanovic, Chris Daigle, Jose Castro, Tina M. Pruitt Campbell, Dane Low, and all of you
who believe karmic capitalism is possible. It is.

To all of the readers and lifestyle designers who shared their experiences and helped create this
expanded edition—thank you! It wouldn’t have been possible without you, and I am humbled beyond
words by your generosity. I hope you never stop thinking big and doing the uncommon.

To Sifu Steve Goericke and Coach John Buxton, who taught me how to act in spite of fear and fight
like hell for what I believe, this book—and my life—is a product of your influence. Bless you both. The
world’s problems would be far fewer if young men had more mentors like the two of you.

Last but not least, this book is dedicated to my parents, Donald and Frances Ferriss, who have guided
me, encouraged me, loved me, and consoled me through it all. I love you more than words can express.

- About the Author

HOUSE_OVERSIGHT_014034
"
IMAGES-008-HOUSE_OVERSIGHT_026434.txt,"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 II 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.

The BRIDGE platform has a long-term European investment strategy and a mandate to cover all sectors of
infrastructure, notably energy, renewables, utilities, transportation, telecommunications and _ social
infrastructure and can execute project financing, refinancing and acquisition finance transactions.

The BRIDGE platform currently comprises investments of between €20-120 million each, in 17 European
infrastructure transactions. In 2016 alone, the BRIDGE team has achieved financial close for 11 infrastructure
deals in Europe aggregating ca. €390m. When benchmarked against other similar funds, the investment team
has succeeded in deploying faster and with credit spreads well above the infrastructure senior debt
benchmark, enabling BRIDGE to become a force in the growing institutions-backed infrastructure debt
market. BRIDGE’s ability to invest beyond the traditional definition of core infrastructure and to structure
transactions was a key differentiator when Edmond de Rothschild launched this platform, as part of its
commitment to real economy. BRIDGE is innovative in the sense that the investment team sources
transactions directly from sponsors and is actively involved in the structuring phase, acting as Mandated Lead
Arranger.

BRIDGE comprises a large, international and skilled London based investment team of 11 investment
professionals who between them have arranged more than €100bn of landmark infrastructure deals over
the last 20 years across the globe. The BRIDGE team is among the largest within the debt funds universe and
demonstrates the Edmond de Rothschild Group’s commitment to the platform.

Kind regards,
Johnny

Johnny el HACHEM

Edmond de Rothschild Private Equity

HOUSE_OVERSIGHT_026434
"
IMAGES-002-HOUSE_OVERSIGHT_013983.txt,"biggest difference for yourself and others.

The Point of It All: Drumroll, Please

What man actually needs is not a tensionless state but rather the striving and struggling for a
worthwhile goal, a freely chosen task.

— VIKTOR E. FRANKL, Holocaust survivor; author of Man’s Search for Meaning

I believe that life exists to be enjoyed and that the most important thing is to feel good about yourself.

Each person will have his or her own vehicles for both, and those vehicles will change over time. For
some, the answer will be working with orphans, and for others, it will be composing music. I have a
personal answer to both—to love, be loved, and never stop learning—but I don’t expect that to be
universal.

Some criticize a focus on self-love and enjoyment as selfish or hedonistic, but it’s neither. Enjoying
life and helping others—or feeling good about yourself and increasing the greater good—are no more
mutually exclusive than being agnostic and leading a moral life. One does not preclude the other. Let’s
assume we agree on this. It still leaves the question, “What can I do with my time to enjoy life and feel
good about myself?”

I can’t offer a single answer that will fit all people, but, based on the dozens of fulfilled NR [ve
interviewed, there are two components that are fundamental: continual learning and service.

Learning Unlimited: Sharpening the Saw

Americans who travel abroad for the first time are often shocked to discover that, despite all the
progress that has been made in the last 30 years, many foreign people still speak in foreign
languages.

— DAVE BARRY

T. live is to learn. I see no other option. This is why I’ve felt compelled to quit or be fired from jobs

within the first six months or so. The learning curve flattens out and I get bored.

Though you can upgrade your brain domestically, traveling and relocating provides unique conditions
that make progress much faster. The different surroundings act as a counterpoint and mirror for your own
prejudices, making weaknesses that much easier to fix. I rarely travel somewhere without deciding first
how [Il obsess on a specific skill. Here are a few examples:

e » Connemara, Ireland: Gaelic Irish, Irish flute, and hurling, the

fastest field sport in the world (imagine a mix of lacrosse and
rugby played with axe handles)

HOUSE_OVERSIGHT_013983
"
IMAGES-005-HOUSE_OVERSIGHT_020197.txt,"45

parents separated, Snowden’s mother, Wendy, bought a two-bedroom condominium in Elliott
City, Maryland. She moved Snowden, along with his two cats, into the condominium. She
remained in the family house while awaiting its sale. According to his neighbor Joyce Kinsey,
Snowden, alone, stayed home almost all the time. From what she could observe, he spent long
hours in front of a computer screen.

At the age of 18, Snowden was still living by himself, while other teens his age went to
college, Snowden now devoted a large part of his time playing fantasy games on the Internet.
Posting under the alias “The TrueHooHa” on a web site called Ars Technica, he showed himself
to be a passionate gamer. He was especially drawn to Anime, a graphically violent style of
Japanese animation. These Anime games had by 2002 achieved a fanatic following in both Japan
and the United States. He claimed special skills at Takken, a martial arts fighting game. He even
went to Anime conventions in the Washington DC area. When he became a webmaster for
Ryuhana Press, a website running these anime-based games, he described himself somewhat
fancifully as a 37-year old father of two children, The only clearly true part of his description was
that he was born on “the longest day of the year” (June 21).

He also apparently valued changing his body. He wrote Internet posts under his TrueHooHa
alias about how he used weightlifting and intensive training to precision-shape his body. He
bragged to his online followers that he had reduced his “body fat percentage to between 9.5% and
10.5%” (which was less than half of the average for his age.)

He appeared somewhat restless with his solitary life in a Maryland suburb in his almost daily
postings. He expressed a longing to go to Japan. “I’ve always dreamed of being able to ""make it""
in Japan. I've taken Japanese for a year and a half,” he posted in 2002. Despite his claim of
learning Japanese, there is no record of him taking any courses in Japanese. But it perhaps part of
his yearning. He also wrote that he wore “cool” purple sunglasses, practiced martial arts and was
a fan of Japanese cuisine. He described himself at one point, as if advertising his virtues, as
having a “head of vibrant, shimmering blond hair (with volume).” In pursuit of an employment
opportunity in Japan, he posted “I’d love a cushy gov job over there.” Eventually, he gave up on
the idea of relocating himself to Japan because, as he explained in a post, he would have to put his
cats in quarantine for six months.

Snowden’s father meanwhile moved to Pennsylvania with his new wife-to-be. This left
Snowden with only one male family member in the area, his maternal grandfather, Admiral
Edward J. Barrett. Unlike Snowden’s virtual career on the Internet, where at one point Snowden
invented for himself two fantasy children, Admiral Barrett became a real actor in the top echelon
of US intelligence. After the Coast Guard, he moved to the Pentagon. He was actually in the
Pentagon when a plane piloted by terrorists crashed into it on 9-11. He emerged unscathed and,
by 2004, was a top official in the intelligence regime that operated the interrogation center at
Guantanamo.

HOUSE_OVERSIGHT_020197
"
IMAGES-005-HOUSE_OVERSIGHT_019702.txt,"214 | HOW AMERICA LOST ITS SECRETS

profits. Because 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 prin-
cipal 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 an
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. But the compa-
nies could also increase their revenue streams by getting additional
contracts, which, in turn, meant recruiting even more workers.

Such a business plan could hardly afford to give the highest pri-
ority to the low probability of a security risk. In the private sector,
there is usually an unambiguous external measure of failure. An
automobile company such as General Motors can measure the per-
formance of its executives by reckoning its 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 a White House lawyer in the Obama administration seeking a ©
position with the NSA in 2012, who was told that among the advan-
tages of working for a super-secret agency was that if one errs or
has a failure, “it stays secret.” The Snowden case showed that not all
failures stay secret.

The NSA can certainly quantify the amount of data it is intercept-
ing, but it obviously cannot count the intelligence that it misses. The
a priori proposition in the intelligence game is that “what is success-
fully hidden is never found.” But one failure that cannot be hidden
is a security breach in which a perpetrator uses NSA data to publicly
expose the NSA’s sources.

Until the Snowden breach in 2013, the NSA had experienced only
one such public failure. It was the capture by North Korea in 1968 of
the USS Pueblo, which had been carrying out highly sensitive elec-
tronic communications interception for the NSA. The Pueblo crew
failed to destroy the NSA‘s encoding machines, which were flown
to Russia several days later. It was a horrible, costly breach. The
Snowden breach was much worse because, among the thousands of

| | Epst_9780451494566_2p_all_r.indd 214 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019702
"
IMAGES-002-HOUSE_OVERSIGHT_014020.txt,"arts and still make a full-time income on only four hours a week. The best part of this is that I have
found mentally the meaning of freedom. Reality is truly negotiable and now my reality is that I can
spend endless hours enjoying the company of my father, who waited twenty years till he retired to enjoy
the freedom that I have found less than 24 months after reading The 4-Hour Workweek.

As an immigrant I want to spread the message that to succeed in America in the 21st century we must
NOT work hard, instead we must follow the principles of the 4HWW and work smarter so that we can
truly achieve the New American Dream: Freedom to enjoy the most precious resource we have in life ...
our time on this earth.

—I. BARRON

PHOTO FINISH

Hey Tim,

I wanted to tell you that your book, The 4-Hour Workweek, has been a true inspiration and life-
changing resource for me this year!

I bought your book in November. Before then, I didn’t know what “workflow automation” was. I had
a part-time employee, but her work was actually creating more work for me. I would work until
sometimes 3 A.M., and get up at 7. I'd tell you I wanted to travel, but the truth is that it seemed
impossible to me. I didn’t have time or money.

I was listening to your audio book one day. I had been listening to each of the chapters, sometimes
over and over again. I was jogging. I stopped in my tracks. I believe I was listening about a case study
about someone who sold music files over the Internet.

I’m a photographer. Weddings mostly. I wondered how I could sell digital images over the Internet.
Then I came up with a fantastic idea for a family photography company. I stopped right there, and
reserved a website on my iPhone.

Two months later, I had a website, access to thousands of photographers across the country, and our
first sale. Even better, I am now in the family photography business, and I never have to shoot myself.
Even better +1, we are the first family photography business that doesn’t sell prints. Only digital files. It
worked! I have now adopted this for my wedding photography as well. Other photographers are so
offended, but I am making WAY more $, my costs are almost eliminated, and my time is free!

I know the above is vague, but it’s not the point. The point is that now I work better, faster, I have two
more employees, I turned off my e-mail notifications on my computer and my iPhone, despite all of what
it’s capable of, it doesn’t even ring. E-mail has been disabled. I just check it every so often to see what
calls I missed.

Today, my fiance loves me because I come home in time for dinner and I leave my laptop at work. It’s
a life I never thought Id be able to live. In the meantime, systems are working in my place and this year
looks to be a lot better, financially, than last.

Then I decided it was time to try my first mini-retirement. The goal: ski the Swiss Alps and spend five
days in Switzerland and spend less than $1,000 total. I got a roundtrip ticket for about 500 bucks. My ski
pass for one day at Engelberg was $80. Lodging was free, thanks to your suggestion
www.couchsurfing.com, and I ate roasted chestnuts, brats, fish and chips and drank great beer all week
long. I did it!

I am forever grateful, and am excited for more mini-retirements. Here’s to living during the best years
of my life.

P.S. I leave May 11 for a month-long work vacation to Italy (I have been hired to photograph two
weddings in Siena). I plan on vacationing a LOT more than I will be working.

— MARK CAFIERO, Photographer

HOUSE_OVERSIGHT_014020
"
TEXT-001-HOUSE_OVERSIGHT_031467.txt,"From: Thomas Jr., Landon 
Sent: 5/16/2016 3:56:57 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Trump 
Importance: High 
is the other stuff ever going to come out? 
On Mon, May 16, 2016 at 11:41 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
Me too 
On Monday, 16 May 2016, Thomas Jr., Landon < > 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 
Landon Thomas, Jr. 
Financial Reporter 
HOUSE OVERSIGHT 031467 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.h  
tml 
HOUSE OVERSIGHT 031468 
"
TEXT-001-HOUSE_OVERSIGHT_029228.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 3/19/2015 9:15:06 PM 
To: Martin Weinberg 
Subject: Re: Fw: Fwd: Mr. Clinton and Mr. Epstein 
Importance: High 
Privileged - Redacted 
On Thursday, March 19, 2015, Martin Weinberg wrote: 
Martin G. Weinberg, Esq. 
20 Park Plaza, Suite 1000 
Boston, MA 02116 
This Electronic Message contains 
information from the Law Office of 
Martin G. Weinberg, P.C., 
and may be privileged. The 
information is intended for the 
use of the addressee only. If you 
are not the addressee, please note 
HOUSE OVERSIGHT 029228 
that any disclosure, copying, 
distribution, or use of the 
contents of this message is 
prohibited. 
On Thursday, March 19, 2015 3:54 PM, Alan Dershowitz < 
Sent from my iPhone 
Begin forwarded message: 
From: ""Sullivan, John"" <____ 
Date: March 19, 2015 at 2:57:44 PM EDT 
To: ____________________________________ 
Subject: Mr. Clinton and Mr. Epstein 
Good Afternoon Mr. Dershowitz, 
wrote: 
I'm John Sullivan, a reporter at The Washington Post. I've been reading with great interest stories 
about allegations that former President Clinton spent time on Jeffrey Epstein's Caribbean Island. In a 
declaration you filled in federal court you state that you have reason to believe this is not true. Are 
you available to discuss this with me? Thank you for your time. 
John Sullivan 
John Sullivan 
Reporter  
1150 15th Street NW 
Washington DC 20071 
Phone: 
Mobile: 
Email: 
please note 
HOUSE OVERSIGHT 029229 
The information contained in this communication is 
confidential, 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 029230 
"
IMAGES-008-HOUSE_OVERSIGHT_026420.txt,"Date: Thursday, November 10 2016 10:15 PM
Subject: Fwd:
From: _ jeffrey E. <jeevacation@gmail.com>

To: Governor Kenneth E. Mapp <a >

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

From: Erika Kellerhals (iii ii
Date: Thu, Nov 10, 2016 at 11:12 PM

Subject: Re:

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

But holy shit you were spot on about trump!

Sent from my iPhone
On Nov 10, 2016, at 6:09 PM, jeffrey E. <jeevacation@gmail.com > wrote:

http://www.dailymail.co.uk/ news/article-3914012/Troubled- woman-history-drug-use-claimed-
assaulted-Donald-Trump- Jeffrey- Epstein-sex-party-age-13-FABRICATED- story. 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

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

HOUSE_OVERSIGHT_026420
"
IMAGES-002-HOUSE_OVERSIGHT_013997.txt,"+ | pair of polyester pants. Polyester is light, wrinkle-resistant, and
dries quickly. Disco dancers and flashpackers dig it.

- | Kensington laptop lock, also used to secure all bags to stationary

objects

- | single Under Armour sock, used to store sunglasses

~ 2 nylon tanktops

> | large MSR quick-dry microfiber towel, absorbs up to seven

times its weight in water

+ | Ziploc bag containing toothbrush, travel toothpaste, and

disposable razor

» | Fly Clear biometric travel card ( www.flyclear.com_), 8 which

cuts down my airport wait time about 95%

» 2 pairs of ExOfficio lightweight underwear. Their tagline is “17
countries. 6 weeks. And one pair of underwear.” I think I'll opt
for two, considering they weigh about as much as a handful of
Kleenex. One other nice side effect of their weight: They’re much
more comfortable than normal cotton underwear.

» 2 pairs of shorts/swimsuits

» 2 books: Lonely Planet Hawaii and The _ Entrepreneurial
Imperative . (The latter comes highly recommended. Check it

out.)

- | sleeping mask and earplugs

HOUSE_OVERSIGHT_013997
"
IMAGES-005-HOUSE_OVERSIGHT_020183.txt,"31

As in any case involving the loss of state secrets, uncontested facts remain in extremely short-
supply. The opinion-laden appellatives such as “patriot” and “traitor” that have tended to fill the
gap in the great divide do little to address the important mystery of how many thousands of state
secrets were taken from the United States. How did Snowden breach the supposedly formidable
defenses of the NSA? Did he have any assistance? How did he escape to Moscow? And what
was the final destination of the stolen documents? The purpose is to find answers to these
questions. For this endeavor, it is necessary to return to the crime scene: the NSA’s base in
Hawaii.

HOUSE_OVERSIGHT_020183
"
IMAGES-012-HOUSE_OVERSIGHT_033400.txt,"From: J [jeevacation@gmail.com]

Sent: 12/22/2018 12:13:56 AM
To: Robert Trivers [nn
Subject: Re:

i never receveide anything asking for support? what are your referring to

On Fri, Dec 21, 2018 at 7:03 PM Robert Trivers {> wrote:

Apologies for requesting support in what was originally intended as an update on work done

iam done with that, you will receive no more messages from me regarding funding, i am most grateful for
your help—without it, 1 doubt i would have a book in view on Honour killings—i can finish it on my own and

fully intend to

you once said you would ""never not support me” but never, as we both know, is a very long time—i am much
more scared of Trump's capacity to destroy the stock market—but as long as i do not get orders from you to

sell, 1 will ride it out
i hope everything is good in your life
warmest best, as always

bob

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_033400
"
IMAGES-003-HOUSE_OVERSIGHT_015777.txt,"Body Language & Banter 87

degree of inflection is used in English, but only in extreme emotional
contexts: A Chinese argument over cold tea can sound like an accusation
of murder to a Western ear.

Symbolic Communication

The earliest recorded permanent human communication is cave
painting, dating to 33,000BcE. Written communication emerged in
Sumer, the southern part of Mesopotamia (now Iraq), using a script
called Cuneiform, written on clay tablets. It was used primarily for
accounting. The Sumerians are responsible for our common use of base
twelve. Twelve hours in a day, inches in a foot, and notes in the scale; all
stem from their civilization.

Although not the first to write stories, the Greeks perfected the
dramatic forms we use today: poetry, prose and plays. Watch an episode
of ‘Law and Order’ and you are seeing a direct descendant of a Greek
tragedy, complete with suffering and justice denied. All this permanent
thought art is made possible by the translation of ideas into symbols.

Scripts and Symbols

The world supports a huge variety of scripts split roughly into phonetic,
representing the component sound of words, and pictographic, stylized
pictures of the ideas.

Traditional # se
Simplified JF # =}

Open Picture Learn

Chinese Traditional and Simplified

Some scripts have interesting quirks. Ancient Hebrew, although
phonetic, is a script where vowels are omitted. Modern Hebrew often
leaves them out as well. This means words can be ambiguous and need
context to decipher them. A common set of Chinese characters has long
been used by Mandarin, Cantonese, and Japanese speakers even though

HOUSE_OVERSIGHT_015777
"
IMAGES-004-HOUSE_OVERSIGHT_017366.txt,"4.2.12
WC: 191694

White House switchboard tried unsuccessfully to reach me. (The White House has an
unparalleled capacity to reach people. Once when flying on a commercial flight, the pilot came
out and whispered in my ear, “the President is on the radio-phone. I took the call in the cockpit.)
I was on a beach, which had no cell phone service. When I got back to my house, there were
seven frantic messages that the President needed to see me right away. He was staying a couple of
miles away from our house, at the home of Dick Friedman in Edgartown. I jumped into my old
Volvo and drove straight to Friedman’s house. The Secret Service man at the end of the road
waved me through, telling me that the President was expecting me. But I was then stopped by
another Secret Service man, telling me that the rules required that they search under the hood, so
I would have to lift it up. I started looking for the mechanism to open the hood. After a few
minutes, the Secret Service man smiled and said, “Professor you don’t know how to open up the
hood on your own car, do you?” I responded sheepishly, “I’m not sure.” I then asked him if he
had heard of the comedian Jackie Mason? He said yes. I said, “Jackie Mason tells a joke about
how when a non-Jew hears knocking under the hood of his car, it makes his day. He gets in there
and he fixes and fixes. But when a Jew hears knocking under the hood of his car, he immediately
trades it in for a new one.” He laughed, and showed me where the lever was. I then drove down
the road a short distance where the President was waiting for me in his jogging shorts. He had
already heard that I didn’t know how to open up the hood of my own car and laughingly
wondered whether he should be seeking advice from such a klutz.

During the height of the Lewinsky affair, I found myself sitting right next to the President at a
large dinner party. He asked me what I was working on and I told him I was finishing a book
called the Genesis of Justice about the first book of the Bible. Clinton is incredibly
knowledgeable about the Bible and we spent much of the dinner in intense conversation about the
various Biblical stories in the Book of Genesis. The next day I received a call from Gail Sheehy
[check this] of Vanity Fair saying that she had heard from somebody at another table at this party
that the President spent the entire dinner grilling me about whether oral sex constituted adultery
within the Biblical meaning of that term. I told her, truthfully, that the subject of adultery and oral
sex had simply never come up during our discussion. We had talked about Abraham and Jacob
and Joseph. I gave her the names of other people at our table—including Anthony Lewis of The
New York Times—and suggested she check with them if she didn’t believe me. She said, “Damn,
that was such a good story but I guess I can’t use it.” I said, “Of course you can’t use it, it didn’t
happen.” When the article appeared in Vanity Fair, she included the story, knowing that it was
false. I wrote a letter to the editor telling what happened and she replied that although I had
denied the truth of the story, somebody at another table confirmed that it was true. Of course the
person at the other table couldn’t possibly hear our conversation but he probably heard some
words suggesting that we were talking about the Bible, and simply assumed that it must have been
about adultery. So much for journalistic integrity.

Shortly after the Clinton case was resolved, John Kennedy, Jr.—the late son of the former
President—called and asked me if I would contribute an article to his magazine, George. He
asked me if I would describe the ten greatest legal blunders of the 20"" Century. Here is what I
described as the number | and 2 greatest blunders:

279

HOUSE_OVERSIGHT_017366
"
IMAGES-004-HOUSE_OVERSIGHT_018055.txt,"Fashion Week Presentation. 6:30pm. Spring 2010 collection. Invitation only. Milk Gallery-Studios. New
York. julissa@bradburylewis.com.

Event address: 450 West 15th St., New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Tom Ford
Cocktail Party. 6:30 pm. Invitation only. Private Location.

Event web address: tomfordinternational.com.

Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion.

Boudoir D'huitres

Fashion Week Show. 7:00pm. Spring/summer 2011 collection. Invitation only. Exit Art. New York. request@acicognani.com.

Event address: 475 10th Ave., New York. Event web address: boudoir-dhuitres.com.
Tags: Fashion Event Fashion Show Exclusive Mix Food and Wine Lover Industry Fashion Industry Media.

Erickson Beamon

Fashion Week Presentation. 7:00pm. Spring 2011 collection. Invitation only. Milk Gallery-Studios. New
York. request@seventhhousepr.com.

Event address: 450 West 15th St., New York. Event web address:www.ericksonbeamon.com.

Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Erin Fetherston

Fashion Week Show. 7:00pm. Spring/summer 2011 collection. Invitation only. Milk Gallery-Studios. New
York. erinfetherston@bpcm.com.

Event address: 450 West 15th St., New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Mercedes Benz Fashion Week

Custo Barcelona Show. 7:00pm. Spring 2011 men's and women's collections. Invitation only. Lincoln Center Plaza. New York. Contact:
Press: Minerva Arboleya. mini@asi-mkt.com.

Event address: West 65th St. and Broadway, New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Mercedes Benz Fashion Week

HOUSE_OVERSIGHT_018055
"
IMAGES-008-HOUSE_OVERSIGHT_025129.txt,"anyone stand out. . ? when we meet I will endeavor to mesmerize you with stories of D.C. so wild. !!!.

On Fri, Oct 27, 2017 at 10:59 AM, Larry Summers - rrtrt—‘—s—SSC‘C ‘CSS wrote:

Was there. Spoke well. Spent time w Softbank deputy Najeev or some such PIF guy too.
Flying back.

How is life among the lucrative and louche?

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: Friday, October 27, 2017 6:51 PM

Subject: Re: Trending Now: Friends for three decades, Trump whisperer says he is ‘stunned’ by president’s
rhetoric

To: Lawrence Summers <i

saudi?

On Wed, Oct 11, 2017 at 11:04 AM, Lawrence Summers ii, wrote:

Your pal should stay out of press.
Public link to manafort will be a disaster.
This is a staggering shit show.

Sent from my iPad

Please direct all scheduling inquiries to my office 1

Follow me on twitter @lhsummers
www.larrysummers.com

w--------- Forwarded message ----------

From: ""The Washington Post"" <email@e.washingtonpost.com>

Date: Wed, Oct 11, 2017 at 9:04 AM -0400

Subject: Trending Now: Friends for three decades, Trump whisperer says he is ‘stunned’ by president’s
rhetoric

To: ""Summers, Lawrence 1."" <i

HOUSE_OVERSIGHT_025129
"
IMAGES-009-HOUSE_OVERSIGHT_027377.txt,"Flags: 1085445
Is Read: No
Is Invitation: No

GUID: O8DD3FOB-A899-465A-8989-416243F30D89

Message: Thats one way to describe it.

Sender: e:jeeitunes@gmail.com

Time: 08/01/18 02:35:18 PM (554852118)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: B8BOA26F-ED59-4F45-BDF8-A48 9D829C367

Message: Come join us at Auschwitz , opening night.

Sender: e:jeeitunes@gmail.com

Time: 08/01/18 02:35:47 PM (554852147)
Flags: 1085445

Is Read: No

Is Invitation: No

5

GUID: 102C165D-2565-467B-B587-BC918EEB8767

Message: Byob

Time: 08/01/18 02:36:03 PM (554852163)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 76020844-66B2-4C46-8972-8A8E10D85351

Message: Wow

Sender: e:jeeitunes@gmail.com

Time: 08/01/18 02:36:42 PM (554852202)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: B4E2362F-2A65-4EBB-B2A4-B789026503E1

Message: mid terms Almost eighty years to the day.

Sender: e:jeeitunes@gmail.com
Time: 08/01/18 02:37:43 PM (554852263)
Flags: 1085445

Ts Read: No

Special

HOUSE_OVERSIGHT_027377
"
IMAGES-009-HOUSE_OVERSIGHT_028044.txt,"would be a “Palestinian state” in Jordan, which would free Israel to retain open-
ended, unchallenged, control of the West Bank.

Even the Labor party, fifteen years into Israel’s occupation of the West
Bank, was still speaking about a “Jordanian option” for an eventual political
settlement with the Palestinians who lived there — though this meant a kind of
confederation with Jordan under Hussein’s rule. Very few Israelis began
seriously to engage with the Palestinians own separate identity or national
aspirations until later in the 1980s — when I, too, would do so, amid the
widespread Palestinian unrest known as the intifada. But even without a fully
thought-out view on these issues, I was taken aback by Arik’s almost godlike
supposition that he could use fire and brimstone, or the modern military
equivalent, to remake the Middle East as he and Begin wished to see it. If only
because of the tacit assumption that the outside world, and especially the
Americans, would sit by and let the whole drama play out as scripted, it struck
me as an exercise in self-delusion.

There was also the matter of Arik’s vision of a “new” Lebanon under Bashir
Gemayel’s Phalangists. Unlike the other generals in the kirya, I’d never actually
met any of our “Lebanese Christian allies”. Yet a few weeks after taking up my
new post, I was invited to a lunchtime discussion with a group of Phalangist
officers on a training course in Israel. I emerged both unsettled and
underwhelmed. They were obviously politically astute. They bandied around
military vocabulary proficiently enough. But they were a bit like teenagers
playing with guns: full of macho, and too much after-shave. Hardly the kind of
“army” I could see as a lynchpin in Arik’s plan to redraw the geopolitical map
of the Middle East.

By June 1982, Arik’s invasion was a war simply waiting for a credible
trigger. On the evening of June 3, Palestinian terrorists shot and critically
wounded Israel’s ambassador in London, Shlomo Argov. Appalling though the
attack was, as a catalyst for a full-scale invasion, it seemed unlikely to be
enough for the Reagan Administration. Habib’s cease-fire terms did not include
terror attacks like the one in London. It was meant to keep the PLO from firing
across our northern border. Even to some Israelis, the attack on Ambassador
Argov seemed more a rationale than a reason for war. But Begin summoned an

196
HOUSE_OVERSIGHT_028044
"
IMAGES-006-HOUSE_OVERSIGHT_021025.txt,"Technology + Infrastructure + Education Investments

Drove ~90% of Labor Productivity Growth for Past ~30 Years

Sources of USA Average Labor Productivity Growth, 1977-2000

= Technology
Investment

i Infrastructure &
Other Investment

1 Education (Labor
Quality)

1 Other (Total Factor
Productivity)

Average Annual Growth Rate (%)

0.0%

1977-1990 1990-1995 1995-2000

Note: Total Factor Productivity is the portion of output not explained by the amount of inputs used in production.

Source: Dale W. Jorgenson, Mun S. Ho, Kevin J. Stiroh, “Growth of U.S. Industries and Investments in Information

KP Technology and Higher Education” <http:/;www.nber.org/chapters/c10627>
(@)E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 367

However, USA Inc. Has Increasingly Allocated Resources Away from

Productive Technology + Infrastructure + Education Investment / Spending
Toward Less-Productive Entitlement Program Spending

USA Real Federal Productive vs. Less-Productive Spending*, 1970-2009

100%

80%

60%

40%

20%

% Share of Total Federal Spending

0%
1970 1974 1978 1982 1986 1990 1994 1998 2002 2006

Note: *Total spending exciudes one-time items (such as TARP / GSE / ARRA) for F2008 / F2009 data.

Data source: White House Office of Management & Budget (1970-2009).

www.kpcb.com ne. at Might a Turnaround Expert Consider?
kpeb USA Inc. | What Might a T dE Consider? 368

HOUSE_OVERSIGHT_021025
"
IMAGES-009-HOUSE_OVERSIGHT_027411.txt,"Currency super strong. . sanctions on Russia. Iran and other purveyors of

destabilization on their heels. . these people say don't give him a platform. Don't
listen . Don't debate. Don't look at the facts. Call him names. He's a racist.
fascist. Mysogonist . Dont let him speak. !

Sender: e:jeeitunes@gmail.com

Time: 09/17/18 07:24:25 AM (558887065)
Flags: 1085445
Ts Read: No

Is Invitation: No

T,

1E815E1-O08EC-4CA4-97C3-15A08D54E283

GUID: E

Message: How great

Sender: e:jeeitunes@gmail.com

Time: 09/17/18 07:29:25 AM (558887365)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: CDED5271-3389-4567-8F6A-S58451D4F5F7F

Message: Do you want to attack me . ? do you want to defend the right of people to
subvert . A duly elected official? Stand up , have a debate. I don't hide in the

shadows. You might not agree with me, but thats ok. Lets discuss it. I don't attack
you personally , and see no reason that you should attack me. Lets discuss FACTS

You don't like mothers being separated from their children. It happens everyday to
people that commit crimes . Everyday. . they are separated . In Chicago those
parents are killed in the street. They are permanently separated. - Focus . !!
Sender: e:jeeitunes@gmail.com

Time: 09/17/18 09:30:47 AM (558894647)
Flags: 1085445
Is Read: No

Is Invitation: No

GUID: 546E5B81-0OFE4-467E-9CE8-F50357030931

Message: Trump is not Abe Lincoln. But they have similar internal politics to contend.
With , these silly analogies are just that silly.

Sender: e:jeeitunes@gmail.com

Time: 09/17/18 09:31:03 AM (558894663)
Flags: 1085445
Ts Read: No

Is Invitation: No

GUID: 77A3A0A1-EDAB-4EC6-BF57-EC830E5BC858

Message: Silly is good word. Not too harsh. But no one likes to be called silly

Time: 09/17/18 09:40:32 AM (558895232)

HOUSE_OVERSIGHT_027411
"
IMAGES-008-HOUSE_OVERSIGHT_025897.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

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_025897
"
IMAGES-006-HOUSE_OVERSIGHT_021743.txt,"behalf of crime victims. She received the 2011 National Crime Victims’ Rights
Service Award as well as the Attorney General’s Project Safe Childhood Award.

He also pointed out that the parents of the victim in the Texas man’s case wrote a
letter thanking Villafana at the conclusion of the case.

“AUSA Villafafia has spent her 18-year career advocating tirelessly on behalf of
victims of some of the most serious crimes in Florida, and has received numerous
awards for her successful prosecution of major cases,” Biran said, adding that
Villafafia has “made South Florida a safer place for children and adults alike.”

Enticing a minor

By all accounts, Adam McDaniel was an awkward and shy Texas teenager who spent
countless hours on his computer, socializing with girls on the internet.

In 2005, McDaniel, then 19, traveled from Texas to Fort Lauderdale, where he
hopped into a taxi and headed to Boca Raton to meet up with a 14-year-old girl he
had been talking to online for about a year. He picked up the ninth grader at a high
school basketball game, and drove her to a Marriott, hotel where they spent the
night, court records show.

When she failed to come home that evening, her parents called Boca Raton police.
Officers tracked the pair down at the hotel the next day, where they found them in
bed, clad in little more than their underwear, according to court records.

McDaniel was arrested on federal sex charges, and pleaded guilty on Oct. 6, 2006, to
enticing a minor into sexual conduct by means of interstate commerce, which
carried a sentence of from five years up to 30 years in federal prison.

HOUSE_OVERSIGHT_021743
"
IMAGES-007-HOUSE_OVERSIGHT_022603.txt,"101

principles or any other criteria applicable to such statements, and (II)

to maintain accountability for assets;

(iii) access to assets is permitted only in accordance with manage-

ment’s general or specific authorization; and

(iv) the recorded accountability for assets is compared with the exist-
ing assets at reasonable intervals and appropriate action is taken with

respect to any differences; and

(C) notwithstanding any other provision of law, pay the allocable
share of such issuer of a reasonable annual accounting support fee or

fees, determined in accordance with section 7219 of this title.

(3)(A) With respect to matters concerning the national security of the
United States, no duty or liability under paragraph (2) of this subsec-
tion shall be imposed upon any person acting in cooperation with the
head of any Federal department or agency responsible for such matters
if such act in cooperation with such head of a department or agency
was done upon the specific, written directive of the head of such
department or agency pursuant to Presidential authority to issue such
directives. Each directive issued under this paragraph shall set forth
the specific facts and circumstances with respect to which the provi-
sions of this paragraph are to be invoked. Each such directive shall,

unless renewed in writing, expire one year after the date of issuance.

(B) Each head of a Federal department or agency of the United States
who issues such a directive pursuant to this paragraph shall main-
tain a complete file of all such directives and shall, on October 1 of
each year, transmit a summary of matters covered by such directives
in force at any time during the previous year to the Permanent Select
Committee on Intelligence of the House of Representatives and the

Select Committee on Intelligence of the Senate.

(4) No criminal liability shall be imposed for failing to comply with
the requirements of paragraph (2) of this subsection except as pro-

vided in paragraph (5) of this subsection.

(5) No person shall knowingly circumvent or knowingly fail to imple-
ment a system of internal accounting controls or knowingly falsify any

book, record, or account described in paragraph (2).

(6) Where an issuer which has a class of securities registered pursu-
ant to section 78] of this title or an issuer which is required to file
reports pursuant to section 780(d) of this title holds 50 per centum
or less of the voting power with respect to a domestic or foreign firm,
the provisions of paragraph (2) require only that the issuer proceed
in good faith to use its influence, to the extent reasonable under the
issuer's circumstances, to cause such domestic or foreign firm to devise
and maintain a system of internal accounting controls consistent with
paragraph (2). Such circumstances include the relative degree of the
issuer’s ownership of the domestic or foreign firm and the laws and
practices governing the business operations of the country in which

such firm is located. An issuer which demonstrates good faith efforts

to use such influence shall be conclusively presumed to have complied

with the requirements of paragraph (2).

(7) For the purpose of paragraph (2) of this subsection, the terms “rea-
sonable assurances” and “reasonable detail” mean such level of detail
and degree of assurance as would satisfy prudent officials in the con-

duct of their own affairs.

ea

15 US.C. § 78ff Penalties [Section 32 of the Securities Exchange
Act of 1934]

(a) Willful violations; false and misleading statements

Any person who willfully violates any provision of this chapter (other
than section 78dd-1 of this title [Section 30A of the Exchange Act]),
or any rule or regulation thereunder the violation of which is made
unlawful or the observance of which is required under the terms of
this chapter, or any person who willfully and knowingly makes, or
causes to be made, any statement in any application, report, or docu-
ment required to be filed under this chapter or any rule or regulation
thereunder or any undertaking contained in a registration statement
as provided in subsection (d) of section 780 of this title, or by any
self-regulatory organization in connection with an application for
membership or participation therein or to become associated with a
member thereof, which statement was false or misleading with respect
to any material fact, shall upon conviction be fined not more than
$5,000,000, or imprisoned not more than 20 years, or both, except
that when such person is a person other than a natural person, a fine
not exceeding $25,000,000 may be imposed; but no person shall be
subject to imprisonment under this section for the violation of any
rule or regulation if he proves that he had no knowledge of such rule

or regulation.
(b) Failure to file information, documents, or reports

Any issuer which fails to file information, documents, or reports
required to be filed under subsection (d) of section 780 of this title or
any rule or regulation thereunder shall forfeit to the United States the
sum of $100 for each and every day such failure to file shall continue.
Such forfeiture, which shall be in lieu of any criminal penalty for such
failure to file which might be deemed to arise under subsection (a) of
this section, shall be payable into the Treasury of the United States

and shall be recoverable in a civil suit in the name of the United States.

c) Violations by issuers, officers, directors, stockholders, employees,

or agents of issuers

1)(A) Any issuer that violates subsection (a) or (g) of section 78dd-1
Section 30A of the Exchange Act] of this title shall be fined not more
than $2,000,000.

B) Any issuer that violates subsection (a) or (g) of section 78dd-1

HOUSE_OVERSIGHT_022603

"
IMAGES-008-HOUSE_OVERSIGHT_024551.txt,"14.5. Management of KUE and the General Partner; Voting Rights

The General Partner will manage and operate KUE, Investors will have no voting rights on matters
aifecting KUE business with respect to their Common LP Units in KUE because the Investors will be
limited partners of KUE. Notwithstanding the foregoing, subject to certain exceptions set forth in the
paragraph below, KUE must obtain the consent of (a) the holders of a majority of the Common LP Units
unaffiliated with the Principals to amend the Limited Partnership Agreement in a manner that is adverse
to the Common LP Unit holders and (b) the holders of at least 90% of the Common LP Units unaffiliated
with the Principals to amend the ""Equal Merger Consideration Provision"" described herein. [In addition,
the General Partner may not take any action to (a) alter or add fo its Articles or (b) alter or add to its
Memorandum with respect to any objects, powers or other matters specified therein that would adversely
affect the rights of holders of Class A Shares without the affirmative vote of the holders of a majority of
the Class A Shares.

Notwithstanding the foregoing, the General Partner, acting reasonably and in good faith, may amend the
Limited Partnership Agreement without the consent of any Limited Partner (a) to correct any
typographical or similar ministerial errors; (b) to delete or add any provision required to be so deleted or
added by applicable law or any government official having jurisdiction over KUE; (c) to cure any mistake
or ambiguity, to correct or supplement any provision herein which may be inconsistent with any other
provision herein; (d) to take such actions as may be necessary (if any) to ensure that KUE will be treated
as a partnership for U.S. federal income tax purposes; (e) to reflect the admission of any additional
Limited Partner and otherwise to reflect such admission or an additional investment by a Limited Partner
on the books and records of KUE pursuant to the General Partner's power of attorney; (f) to take such
actions as may be necessary (if any) to ensure that neither of KUE or the General Partner (or any
subsidiary of the foregoing) will be subject to regulation under ERISA or the Investment Company Act; (g)
to take such actions as may be necessary (if any) to ensure that the General Partner (or any Subsidiary)
will not be subject to the Investment Advisers Act; (h) to reflect any increase in the number of Profits
Participation LP Units approved by the Independent Committee and related changes in allocation and
distribution provision; (i) to make changes negotiated with Limited Partners admitted in any subsequent
closing of the offering, so long as such changes do not, in the good faith determination of the General
Partner and with the approval of the Independent Committee, adversely affect the rights, obligations and
economic interests of the existing Limited Partners; and (j) to the extent necessary to give effect to
partnership interests issued to additional Limited Partners after the Offering Period. The General Partner
shall provide prompt written notice of any such amendments to the Limited Partners.

Holders of Class A Shares of the General Partner will have one vote per share. The holders of Class B
Shares will have, in the aggregate, one more vote than the requisite legal vote required to approve
particular matters. {n addition, Investors will have the right to elect directors fo the Board of Directors of
the General Partner as set forth in “- Board of Directors of the General Partner"" below.

14.6. Board of Directors of the General Partner

The General Partner will have a Board of Directors initially consisting of up to 13 persons.

Following the first closing of the offering and prior to the “Initial Listing” (as defined below), the outside
Investor (including its affiliates) holding the greatest number of shares in the General Partner at the first
closing of the offering will appoint two directors of the General Partner and the holders of the Class B
Shares will appoint the remaining Directors.

Following the initial appointment of the Board, the Board may, in its sole discretion, increase the number
of directors, including te accommodate investors that invest subsequent to the initial closing of the
offering of the Units, provided that the outside Investor appointing two directors pursuant to the paragraph
above shall have the right to appoint additional directors as required to maintain a ratio of such Investor's
designees to total Board members of not less than 2/15ths.

118

HOUSE_OVERSIGHT_024551
"
IMAGES-011-HOUSE_OVERSIGHT_031911.txt,"36

He considers three leading theories about what we ought to do — one
deriving from Kant, one from the social-contract tradition of Hobbes,
Locke, Rousseau, and the contemporary philosophers John Rawls and
T.M. Scanlon, and one from Bentham’s utilitarianism — and argues
that the Kantian and social-contract theories must be revised in order
to be defensible.

Then he argues that these revised theories coincide with a particular
form of consequentialism, which is a theory in the same broad family
as utilitarianism. If Parfit is right, there is much less disagreement
between apparently conflicting moral theories than we all thought.
The defenders of each of these theories are, in Parfit’s vivid phrase,
“climbing the same mountain on different sides.”

Readers who go to On What Matters seeking an answer to the
question posed by its title might be disappointed. Parfit’s real interest
is in combating subjectivism and nihilism. Unless he can show that
objectivism is true, he believes, nothing matters.

When Parfit does come to the question of “what matters,” his answer
might seem surprisingly obvious. He tells us, for example, that what
matters most now is that “we rich people give up some of our
luxuries, ceasing to overheat the Earth’s atmosphere, and taking care
of this planet in other ways, so that it continues to support intelligent
life.”

Many of us had already reached that conclusion. What we gain from
Parfit’s work is the possibility of defending these and other moral
claims as objective truths.

Peter Singer is Professor of Bioethics at Princeton University and
Laureate Professor at the University of Melbourne. Revised editions
of his books Practical Ethics and The Expanding Circle have just
been published.

HOUSE_OVERSIGHT_031911
"
IMAGES-004-HOUSE_OVERSIGHT_017400.txt,"4.2.12
WC: 191694

matter of Constitutional law. Politically I have always supported a women’s right to choose
abortion, since I do not regard an early term fetus as a human being for purposes of the abortion
debate. For me the decision to abort is very much a matter of degree and the women carrying the
child should have primary responsibility to make that decision. But as a matter of constitutional
law, I find little basis in either the right of privacy or the right to equal protection that would grant
a women the right to terminate her pregnancy, particularly as the fetus comes closer to viability.
The law must always make arbitrary judgments—an 18 year old may vote but a 17 year old may
not, a 34 year old may not run for president, but a 35 year old can—and the judgment as to when
a fetus becomes a human being in highly arbitrary. Most legal systems establish exit from the
birth canal as the moment of humanity but a 9 month old fetus in the womb is biologically
indistinguishable from a fetus that has just exited the womb. (Indeed when kangaroos exit from
the womb, it is only a temporary condition and the joey returns periodically to the mother’s
external womb for nourishment.) The fetuses is as viable at 9 months as at 9 and a half, but
distinctions must be made by the law.

The question of when life begins is somewhat more arbitrary than the related question of when life
ends. But even the latter question is subject to disagreement as the cases involving “pulling the
plug” demonstrate.

The religious component in the abortion debate is quite pronounced. For a believing Catholic,
and for some Protestants, life begins at conception. If I believed, as some do, that abortion is the
killing of a human being with a soul, I would probably be marching in front of abortion clinics to
stop the murder of innocent babies. The fact that I don’t believe this is largely a matter of my
upbringing, most particularly my religious training. It is not a matter of absolute “truth.” Some
scholars, believe that they can demonstrate, as a matter of philosophical truth, that the Catholic
position is wrong. I think that is the height of arrogance. Nor am I convinced by the faulty
argument, offered by some, that if Catholics really believed that fetuses were human beings, they
would punish abortion by the death penalty and the fact that they don’t proves, under this view,
that they don’t really believe that fetuses are human beings. This argument is preposterous on its
face, for several reasons. First, some religious extremists do believe that abortion should be
punished by death. Indeed, they have killed abortion doctors. Second, some Catholics are
opposed to the death penalty even for murder. Indeed, that is the official position of the Vatican.
Third, one can believe that abortion is murder and yet understand that there may be mitigating
factors.

Following the Supreme Court infamous decision in Bush v. Gore, essentially handing the 2000
Presidential election to George W. Bush, I wrote a book (Supreme Injustice) in which I argued
that “the seeds” of Bush v. Gore “were planted by the campaign to constitutionalize a woman’s
right to choose abortion.”

I argued that the abortion issue is quintessentially political. It involves a clash of ideologies, even
world views. Unlike the issue of equality for gays or state-enforced racial segregation, the
controversy over abortion has no absolute right and wrong, either morally or constitutionally.
Virtually everyone today acknowledges that segregation was both immoral and unconstitutional.
All it took was a strong push by a unanimous Supreme Court to set in motion a process that was
ongoing in most other democracies throughout the world, but that had gotten stuck in the United

313

HOUSE_OVERSIGHT_017400
"
IMAGES-012-HOUSE_OVERSIGHT_033366.txt,"5/29/2019 Opinion | Trump Hands China an Easy Win in the Trade War - The New York Times

Days after the president’s tweets, China listed three “red lines,” positions the United States had
taken in the trade talks that were unacceptable: First, that it would keep tariffs in place for a
period after the proposed trade agreement was signed. Second, that it could impose punitive
tariffs if it judged China to be in violation of the agreement, and that China would be forbidden
from retaliating with its own tariffs. Third, the ever-inflating expectations of the terms under
which Beijing would buy American goods under a proposed bilateral purchasing agreement.

These “red lines” were new. Before that, China’s negotiating team had a fully flexible remit from
the leadership. But not anymore. Now that these three lines are in the public domain, there is no
way Chinese leaders can yield on them. The leaks of large parts of the negotiating text to the
American news media has added a new level of toxicity, making it virtually impossible to return
to the existing text as a basis of negotiations. Together with recent moves against the Chinese
telecom company Huawei presumably intended to pressure Beijing further, the possibility of
negotiating a revised agreement that is more accommodating to American interests is now very
slim.

Instead, what I have seen in Beijing over the last few weeks is a country moving in exactly the
opposite direction.

Related
More on the trade war.

Opinion | Michelle Cottle

Donald Trump’s Great Patriotic Wars May 26, 2019

Economic analysts, meanwhile, have been calculating the impact of a full-blown trade war,
estimating a loss of about 1.2 percentage points to Chinese G.D.P. growth. This figure is now
portrayed in the Chinese media as entirely manageable given China’s capacity to use fiscal and
monetary policy stimulus to support domestic demand and keep growth above 6 percent.

Even if a trade deal with the United States is still possible, some in the Chinese leadership are
now starting to ask, why bother? They argue that in technology, investment, foreign policy,
national security and human rights, the Trump administration has made it clear that it has
embarked on a more adversarial position toward China. So why should Beijing expend any more
political capital on a trade deal? Perhaps it’s better, in China’s view, to cut its losses now and get
ready for the next Cold War.

https:/Avww.nytimes.com/2019/05/29/opinion/trump-china-trade-war.html 2/3

HOUSE_OVERSIGHT_033366
"
IMAGES-003-HOUSE_OVERSIGHT_015011.txt,"This is to say that John and Avery Gunther helped IBM defend against an allegation of murder, and in
this way they are accomplices to a cover-up. This is also to say that the characterization provided by
John and Avery Gunther in their April 2011 Superior Court filing for a Protection Order against me
and their admissions in this filing of having provided derogatory information to various persons and/or
entities in the DC area to include school administrators, psychologists, and law enforcement, were
more to harm me, especially in my chances to hold IBM accountable, than to protect either
themselves or children Anjulee and Xian Gunther.

| also long-allege that the relationship that developed from this initial quid pro quo led to John and
Avery Gunther being similarly compensated for what turned into the sexual exploitation of their two
daughters. For more on child sexual exploitation for the sake of personal and professional leverage,
see especially the following:

Nick Bryant | The Franklin Scandal & The Elite’s Pedophilia Cover Up,
https://Awww. youtube.com/watch?v=68gvGGPjm0o0&t=978s

That the NSF won't acknowledge the abuse, and won't respond even to my FOIA requests, and
otherwise has gone to extents to protect Cathie Skoog and her co-conspirators at IBM and otherwise
is all that was needed to have adequately turned the organization towards the interests of the Deep
State. Now it is simply a matter of the Deep State continuing to put the NSF to use.

*

*

Jeffrey Epstein in context:
(As sent to the Wash Post)

| send you this in response to the recent column entitled Believe in the Process by Kenneth Starr.
Perhaps rethink any public affiliation with Ken Starr; although his demeanor on paper is undoubtably
consoling, it is also a bit intoxifying when it would be best now if we keep our wits about us, no?

| say this from the following perspective - Ken Starr of the Starr Report, attorney for (1) Erik Prince of
Blackwater and (2) convicted pedophile Jeffrey Epstein in context:

The Starr Report buried behind salacious detail of the Lewinsky affair almost nothing of Whitewater,
Travelgate, or otherwise what many consider the murder of Vince Foster (Foster, albeit the subject of
a different investigation was also under the purview of attorney Starr and formal investigation of the
results of Starr's investigation were drowned out by the details of the Lewinsky affair.) This is a bit
strange considering the Lewinsky affair was a moral failing and not an actionable criminal one as
would have been the others had any proof surfaced.

Starr later defended Blackwater against wrongful deaths suit initiated by the families of the 2004
Fallujah Ambush victims - ""In October 2006, Blackwater hired one of the nation’s heaviest-hitting
lawyers to represent it - Kenneth Starr, the independent counsel in the 1999 impeachment of
President Bill Clinton over the Monica Lewinsky sex scandal... Starr and his colleagues argued that
Blackwater was ""constitutionally immune"" from such lawsuits and said that if the Fallujah case were
allowed to proceed, ""Blackwater will suffer irreparable harm.” In the eighteen-page petition to the
Supreme Court, Blackwater argued that there are no other such lawsuits against private
military/security companies in state courts ""because the comprehensive regulatory scheme enacted
by Congress and the President grant military contractors like Blackwater immunity from state-court
litigation."" (pp. 234-235, Blackwater). (Author Ken Davis writes) ""The four men had spent the night

HOUSE_OVERSIGHT_015011
"
IMAGES-007-HOUSE_OVERSIGHT_024272.txt,"TECHNOLOGY THOUGHT-LEADERS ARE CONVINCED

Bill Gates:
“Bitcoin is better than currency...a technological tour de force.”

Ben Bernanke
“(Virtual Currencies] may hold long-term promise, particularly if the innovations promote a faster,
more secure and more efficient payment system.”

Eric Schmidt
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is
not duplicable in the digital world has enormous value.”

Milton Friedman (1999)
“| think the Internet is going to be one of the major forces for reducing the role of government...
The one thing that’s missing, but that will soon be developed, is a reliable e-cash”

Peter Thiel
“| do think Bitcoin is the first encrypted money that has the potential to do something like change
the world.”

Al Gore
“’m a big fan of Bitcoin...Regulation of money supply needs to be depoliticized”

ad David Marcus (former CEO PayPal)
watt “| really like Bitcoin. | own Bitcoins. It’s a store of value, a distributed ledger. It’s a great place to
put assets.""

~~) BLOCKCHAIN

4
mo CAPITAL ONE FERRY BUILDING, SUITE 255 SAN FRANCISCO, CA 94111 investor@blockchain.capital

HOUSE_OVERSIGHT_024272
"
IMAGES-001-HOUSE_OVERSIGHT_011486.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_011486
"
IMAGES-008-HOUSE_OVERSIGHT_026346.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026346
"
IMAGES-001-HOUSE_OVERSIGHT_010940.txt,"been the easiest guy to be married to. He pinched pennies, went on trips while she
held up the home front, came home late. My mother had about the same story. But |

saw different sides of him at different times and places.

Twice I saw him cry. Once we were listening to a Caruso record. He might well have
heard Caruso, although | don’t recall that he said so. He would already have been 28
when Caruso last sang at the Met. One of the two books he wrote by himself shows
him as an opera buff when on his own in Germany in the 1930s. He wrote what
operas he had heard, who sang, and what he liked. My mother said the same. Once
they arrived late at a performance of La Boheme somewhere on the Riviera, couldn’t
find a program, liked the tenor, decided to help him, and learned that they had failed

to recognize Beniamino Gigli.

The other time was about his and Teddy’s son Timmy. Timmy’s brain tumor was
inoperable and growing. He was 13. The doctors had told them to prepare for the
worst. We were in London. The papers said something about young toughs called
Teddy boys. My father started crying. Timmy wouldn't make it, and the Teddy boys

would.

I’ve now lost a son myself. You thank the graces for what's left to do. What’s left to
do includes composing, verse and economics. The first has panned out okay. A fair
bit of the verse was set in the music. At least that makes it read and heard. Aside
from the kind words of Modigliani and a few others, I can’t say as much for my

economics. So here goes again.

Chapter 1: Recollections 1/06/16 24

HOUSE_OVERSIGHT_010940
"
TEXT-001-HOUSE_OVERSIGHT_031301.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 1/20/2015 12:14:30 AM 
To: Jean Luc Brune_________________________________ 
Subject: could you put something like this out. if you want 
I have to hand it to ms . I'm sure she deserves the pretty penny she has made for her effort. She has 
certainly caught the imagination of a public hungry for salacious fiction. To suggest her story is anything other 
than that, a fiction, is ludicrous. Presidents at dinner on caribean islands. ( clinton was never ever there, easy 
to confirm ). Sharing a bath with a Prince ( bathtub too small even for one adult ). sex slave being paid 
thousands of dollars. ( while at the exact same time, she was working as a hostess in a burger bar ). being 
lent out to a prime minister though this prime mininster, never out of sight of his massive security detail also 
never visited the island„ sex on a small airplane with a famous lawyer while the other passengers must have 
been all looking out the window during the event . I would have thought that her fabrications were readilly 
apparent , but now , being asked to deny what the press has termed her"" allegations"" is frankly silly. ok, to 
play along I deny each and every allegation. The only person she didn't suggest she was forced to have sex 
with , was Bilbo Baggins. , maybe its in the sequel. 
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 031301 
"
IMAGES-010-HOUSE_OVERSIGHT_028809.txt,"=

nytimes.com / REED ABELSON and KATIE THOMAS President
Trump issued a sweeping set of proposals aimed at improving medical

care for the tens of millions of Americans who have kidney disease, a...

Billionaire and former presidential
candidate Ross Perot dies at 89

HOUSE_OVERSIGHT_028809
"
IMAGES-002-HOUSE_OVERSIGHT_013029.txt,"6.5 Goal-Oriented Dynamics in CogPrime 113

example, perhaps MOSES would discover that older males wearing ties tend not to become
regular visitors. If the new playmate is an older male wearing a tie, this is directly applicable.
But if the current playmate is wearing a tuxedo, then PLN may be helpful via reasoning that
even though a tuxedo is not a tie, it’s a similar form of fancy dress — so PLN may extend the
MOSES-learned rule to the present case and infer that the new playmate is not likely to be a
regular visitor.

6.5 Goal-Oriented Dynamics in CogPrime

CogPrime’s dynamics has both goal-oriented and “spontaneous” aspects; here for simplicity’s
sake we will focus on the goal-oriented ones. The basic goal-oriented dynamic of the CogPrime
system, within which the various types of memory are utilized, is driven by implications known
as “cognitive schematics”, which take the form

Context \ Procedure > Goal < p>

(summarized C A P > G). Semi-formally, this implication may be interpreted to mean: “If the
context C' appears to hold currently, then if I enact the procedure P, I can expect to achieve the
goal G with certainty p.” Cognitive synergy means that the learning processes corresponding to
the different types of memory actively cooperate in figuring out what procedures will achieve
the system’s goals in the relevant contexts within its environment.

CogPrime’s cognitive schematic is significantly similar to production rules in classical ar-
chitectures like SOAR and ACT-R (as reviewed in Chapter 4; however, there are significant
differences which are important to CogPrime’s functionality. Unlike with classical production
rules systems, uncertainty is core to CogPrime’s knowledge representation, and each CogPrime
cognitive schematic is labeled with an uncertain truth value, which is critical to its utilization by
CogPrime’s cognitive processes. Also, in CogPrime, cognitive schematics may be incomplete,
missing one or two of the terms, which may then be filled in by various cognitive processes
(generally in an uncertain way). A stronger similarity is to MicroPsi’s triplets; the differences
in this case are more low-level and technical and have already been mentioned in Chapter 4.

Finally, the biggest difference between CogPrime’s cognitive schematics and production rules
or other similar constructs, is that in CogPrime this level of knowledge representation is not
the only important one. CLARION [SZ04], as reviewed above, is an example of a cognitive
architecture that uses production rules for explicit knowledge representation and then uses a
totally separate subsymbolic knowledge store for implicit knowledge. In CogPrime

both explicit and implicit knowledge are stored in the same graph of nodes and links, with

e explicit knowledge stored in probabilistic logic based nodes and links such as cognitive
schematics (see Figure 6.8 for a depiction of some explicit linguistic knowledge.)

e implicit knowledge stored in patterns of activity among these same nodes and links, defined
via the activity of the “importance” values (see Figure 6.9 for an illustrative example thereof)
associated with nodes and links and propagated by the ECAN attention allocation process

The meaning of a cognitive schematic in CogPrime is hence not entirely encapsulated in its
explicit logical form, but resides largely in the activity patterns that ECAN causes its activation
or exploration to give rise to. And this fact is important because the synergetic interactions
of system components are in large part modulated by ECAN activity. Without the real-time

HOUSE_OVERSIGHT_013029
"
IMAGES-001-HOUSE_OVERSIGHT_010798.txt,"wow on Dm ew DnN

NNNNNN HHH ee ee ee EL
MP WwNeF OOF MAA PWN HO

worn nau *F WN

NNNNN YN RP FP RF RF FP FP RF RF HM Re
Wn FW NF OO ON Dm FWY NY KF Oo

237

A. It was whenever -- I'm not sure I ever saw
the date. He just quickly showed me the e-mail and
I quickly looked at it.

Q. The e-mail that you are referencing, in
fact, occurred after you had begun all of your media
appearances with respect to this filing ~~

A. Let me be very clear about --

Q. -- didn't it, sir?

A. Let me be very clear about my media
appearances so that | --

Q. How about just answering the questions?

A. I'm trying to answer the question. All of
my media appearances --

Q. The question is: Did it occur before or
after your media -- your media appearances? That
doesn't call for a speech --

A. It came --

Q. ~it calls for before or after.

A. It came before some and after some. It
came, for example, before my appearance on the BBC
because they showed me the e-mail before they
interviewed me for the BBC. So some occurred -- it
occurred before some and it occurred after some.

Q. Allright. So itis your assertion that
this single e-mail that you have made reference to

oOo on DM FF WHD HE

NNN NNN FH ee oe Be Be BE BE BoB
Mme WNH OW ON AU BR wWNHPR OO

MR. SCOTT: I think he's answered that
twice.

A. It came after. It came after.

BY MR. SCAROLA:

Q. Thank you, sir. On January 5, you made
another CNN Live appearance in an interview with
Hala Gorani. Do you recall that?

A. 1 do not recall the name of the person --

Q. Take a look at the transcript, if you
would, please, page 15.

MR. SCOTT: Take a moment to review the
transcript, please, Mr. Dershowitz.

THE WITNESS: Page 15.

MR. SCOTT: Take your time to review that.

A. Yeah, that name is not familiar to me but,
of course, I remember doing an interview, yes.

BY MR. SCAROLA:

Q. All right, sir. And during the course of
that interview, you said: ""There are flight
manifests. They will prove I was never on any
private airplane with any young woman."" Correct?

A. Yes.

Q. Go to page 17, if you would.

A. Uh-huh.

Q. Atline 4 of transcript of that same

238

where Paul Cassell says ""asks Dershowitz these
questions"" occurred before your -- your media
appearances and after your media appearances; ts
that correct?
MR. SCOTT: Objection, form, argumentative
and repetitious.
A. It occurred before some of the media

appearances, and it occurred after some of media

appearances, yes.
BY MR. SCAROLA:
Q. Did it occur before your first media
appearances?
A. My first media appearances came as the
result of phone calls I received from --
Q. That's nonresponsive to my question, sir.
A. -~ newspapers --
Q. I didn't ask you anything about what your
first media appearances occurred --
A. Yes, you did.
Q. -- asa result of. 1 asked you --
MR. SCOTT: Let him ask his question.
BY MR. SCAROLA:
Q. -- whether the e-mail that you claimed to
have seen was sent before or after your first media
appearance?

wo on Du FF WN

N NNN NN HH eM ew Be eB eo be
“uP WNeHF OW AANA UN PF wWNHRE OO

240

interview, you said: ""She made the whole thing up
out of whole cloth. I can prove it by flight
records. | can prove it by my travel records.""

Did you make those statements?

A. Yes, and they're absolutely true.

Q. Okay. I am going to hand you every flight
record that has been produced in connection with
this litigation.

A. Uh-huh,

MR. SCAROLA: Could we mark that as the
next composite exhibit, please?

(Thereupon, marked as Plaintiff
Exhibit 6.)

MR. SCAROLA: And mark this as the next
composite exhibit, which will be 7.

MR. SCOTT: These are all the flight
manuals?

MR. SCAROLA: As far as I know.

MR. SCOTT: Okay.

MR. SCAROLA: They're the only ones that
have been produced in discovery. If there are
more, I'm going to be interested to hear about
it.

(Thereupon, marked as Plaintiff
Exhibit 7.)

16 (Pages 237 to 240)

www.phippsreporting.com
(888) 811-3408

HOUSE_OVERSIGHT_010798
"
IMAGES-005-HOUSE_OVERSIGHT_019064.txt,"-l-

FD-302 (Rev. 10-6-95)

FEDERAL BUREAU OF INVESTIGATION

Date of transcription 08/22/2006

was interviewed at her residence in West
Palm Beach, Florida regarding a federal investigation involving the

sexual exploitation of minors. After being advised of the identit
of the interviewing agents and the nature of the interview, PT

provided the following information: b6é

b7C
[-—_]was employed as the[__ sds for: JEFFREY

EPSTEIN's residence on the island of Palm Beach, Florida. She

began working for EPSTEIN approximatel
stated Pd (bel deve by to be EPSTEIN's

girlfriend at the time) was the person who hired her. It was

through and her association with

ee EPSTEIN that came to be employed at the EPSTEIN

residence. According to it was vnite [Las working at

one of the salons on Palm Beach she met both and EPSTEIN.
stated that[__| provided massages to EPSTEIN.

While employed at the EPSTEIN residence,| primary
responsibilities were to have the house ready for the arrival of
either EPSTEIN or [—__jand their guests. TT ensurea the
house was stocked with food, beverages, and fresh flowers.
would also help in the arrangement of transportation to and from

the airport.

[| stated that there was a high rate of turnover among
the staff employed at the EPSTEIN residence because EPSTEIN
and others were not very nice to the hired help.
stated EPSTEIN was nice in the beginning but became ""mean.""
believed

L —lvis never at the residence when EPSTEIN was having
a massage. stated she had taken many messages from girls
who wanted to work for EPSTEIN. The girls would want to know when
EPSTEIN was coming to town and they would want her to take a
message, SO EPSTEIN could return their call. [—__]would leave the
messages on the counter so that when EPSTEIN would arrive in from
out of town he could review them. One Christmas,[___]was asked
to call 5 or 6 of EPSTEIN's ""massage girls"" and relay to them that
they could stop to pick up their Christmas gift. Although not

Investigation on 08/17/2006 a West Palm Beach, Florida

File # 3LE#MM-108062 Date dictated 08/17/2006

This document contains neither recommendations nor conclusions of the FBI. It is the property of the FBI and is loaned to your agency;

it and its contents are not to be distributed outside your agency. my
2/E- Hy 1990b2 SF

HOUSE_OVERSIGHT_019064
"
IMAGES-009-HOUSE_OVERSIGHT_027439.txt,"Sender: e:jeeitunes@gmail.com

Time: 09/30/18 01:01:05 PM (560030465)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 832A60C6-424E-415C-8D83-769C25A85B85

ce

Message: same in my books

Sender: e:jeeitunes@gmail.com

Time: 09/30/18 01:01:18 PM (560030478)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: A2FB/36A-107A-4AF2-903C-O4BF7CC42502

Message: its the way to peace

Sender: e:jeeitunes@gmail.com

Time: 09/30/18 01:15:12 PM (560031312)
Flags: 1085445

Is Read: No

Is Invitation: No

£

GUID: 5947AD86-C63E-4F6A- 9184-92 9A7AE7 9EA7T

Message: instead of peace through strength

Time: 09/30/18 01:25:12 PM (560031912)
Flags: 1052673
Is Read: No

Is Invitation: No

cal

GUID: 8B9A6656-106E-45BB-ADB5-7A62062C4062

Message: Exactly

I believ

in peac

through vanquishment

HOUSE_OVERSIGHT_027439
"
IMAGES-008-HOUSE_OVERSIGHT_024579.txt,"19. APPENDICES

INDEX TO THE APPENDICES

19.1. APPENDIX A: DETAILED BIOGRAPHIES

KUE MANAGEMENT 148
KUE ADVISORY BOARD 152
KLC MANAGEMENT 153
REAL ESTATE MANAGEMENT TEAM / GREENSTREET REAL ESTATE PARTNERS 155
KSI BOARD OF DIRECTORS 156
k12 MANAGEMENT 157

19.2 APPENDIX B: KLC MD&A FOR 2005, 2004 AND 2003
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 158
RESULTS OF OPERATIONS FOR THE FISCAL YEARS ENDED DECEMBER 31,
2005, 2004 AND 2003

19.3 APPENDIX C: KLC MD&A FOR FIRST QUARTER 2006
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 179
RESULTS OF OPERATIONS FOR THE QUARTERLY PERIOD ENDED APRIL 1, 2006

19.4 APPENDIX D: KLC MD&A FOR SECOND QUARTER 2006

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 197
RESULTS OF OPERATIONS FOR THE QUARTERLY PERIOD ENDED JULY 1, 2006

19.5 APPENDIX E: FINANCIAL STATEMENTS
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS 222

146

HOUSE_OVERSIGHT_024579
"
IMAGES-004-HOUSE_OVERSIGHT_016736.txt,"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.
iler's Name ; Page Number i

Donald J. Trump : 38 of 42

Part 7: Transactions ;

fe Description i ie Ci C*
raesirmermor es
PIMCO SHORT-TERM FD-INSTL Purchase

9 | METROPOLITAN WEST Total Return Bond-PLN

Q |DODGE & COX INCOME FD

] |CHILTON STRATEGIC EUROPEAN EQUITIES FD

to | 1 bh Mw th
f=[s[sieisiaisls|s|

2 |CHILTON STRATEGIC EUROPEAN EQUITIES FD

tad

IMCO UNCONSTRAINED BOND-INS

LS | 8 |

34.JOHN HAN Il-ABS RET CURR-RG

§ |AMERICAN BEACON GLG Total Return - Ultra

RM LONG/SHORT OPPORTUNITIES FUND

37 |GMO SGM MAJOR MARKETS FD-V1

JPMORGAN GL RES ENH IDX-R6 Sale 31,001 - $15,000

39 |PIMCO SHORT-TERM FD-INSTL Sale 29-Oct-2018 $1,001 - $15,000

40 |PRIMECAP ODYSSEY STOCK FD

* 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.

HOUSE_OVERSIGHT_016736
"
IMAGES-008-HOUSE_OVERSIGHT_025667.txt,"Investment
Management

What is Blockchain Technology? Division

Illustrative Schematic: Centralized Network versus Distributed Network

Centralized Network Distributed Network

= Blockchain is the critical and differentiating infrastructure that underlies cryptocurrencies.

= Unlike most networks today, which rely on a centralized hub, a blockchain is a public distributed network whose
complete database can be accessed and maintained by each member of the network.

# The blockchain is a shared and continually reconciled database. As new transactions occur, data is quickly
disseminated to, verified, and incorporated across all nodes on the network.

= Because it has no single maintainer, the blockchain’s history is resistant to editing by a malicious actor.

Source: Investment Strategy Group, http://cryptocurrencyfacts.com/how-does-cryptocurrency-work-2/ . 4
HOUSE_OVERSIGHT_025667
"
IMAGES-004-HOUSE_OVERSIGHT_017428.txt,"4.2.12
WC: 191694

Is there no sense of shame in that building? Has the word hypocrisy lost all meaning
across the street? Does no one recognize the need for a single, neutral standard of human
rights? Have human rights now become the permanent weapon of choice for those who
practice human wrongs? For shame. For shame.

As I spoke these harsh words in the shadow on the U.N. building, I wondered what my mentor
Arthur Goldberg, who left a lifetime job on the Supreme Court, to go to the U.N., would think of
what I was saying. He always defended and supported me, but he loved and admired the U.N. I
think he would have approved of the thrust of my talk, if not of every word, as he did when
another one of his mentees, Daniel Patrick Moynihan, used powerful words to condemn the
actions of the U.N.

If an organization—governmental or non-governmental—is to remain true to a genuine
commitment to universal and neutral human rights, it must prioritize the use of its resources.
“The worst first” must be its governing criteria. The “worst” has two major components. First
and foremost is the nature and scope of the human wrongs: genocide, mass murder, widespread
torture and mutilation of dissidents, rape as a policy, slavery, genuine apartheid and other
comparable abuses. Second is the inability of victims to secure relief from the judiciary, from
human rights groups, from the media and from other domestic sources. Failure to prioritize is a
sure sign of bias and lack of neutrality. Today’s U.N. and most “human rights” NGOs fail this
test.

My defense of Western democracies, and most particularly Israel, against deliberately exaggerated
charges regarding human rights, led to an offer that presented me with an existential challenge to
my dual identity as an American and a Jew. In 2010, the Prime Minister of Israel, Benjamin
Netanyahu, urged me to accept the position of Israel’s Ambassador to the U.N. He told me that
in order to serve in that capacity, I would have to become an Israeli citizen, though I could also
retain my American citizenship. I realized immediately that I could never accept the offer, despite
the reality that I would have enjoyed the job immensely. The idea of standing up against the
hypocrisy and double standard of the UN appealed to me. But it was clear to me that I am an
American, not an Israeli. For me to switch sides—even to a nation that is so close an ally to my
own nation—would raise the spectre of dual loyalty that has been directed at Jews since Biblical
times, when they lived as minorities in the lands of Egypt and Persia.'°

After much discussion and arm twisting, I finally persuaded Netanyahu that if I accepted the
position, it might be good for me, but it would not be good for American Jews or for Israel. So I
declined, after promising the Prime Minister that I would be available, as an international lawyer
and an American, to help defend Israel against unjust charges brought by international bodies such
as the International Criminal Court, the International Court of Justice and various UN agencies. I
will also continue to criticize Israel’s human rights record when criticism based on a single
universal standard is warranted by its actions.

15 Quote Exodus and Esther

341

HOUSE_OVERSIGHT_017428
"
IMAGES-011-HOUSE_OVERSIGHT_031939.txt,"2]

Article 7.

Hurriyet

Why Golda Meir was right

Burak Bekdil

August 23, 2011 -- It has been more than two and a half years since
Prime Minister Recep Tayyip Erdogan told to Israeli President
Shimon Peres’s face, “You (Jews) know well how to kill.” Prime
Minister Erdogan has also declared more than a few times that the
main obstacle to peace in this part of the world is Israel, once calling
the Jewish state “a festering boil in the Middle East that spreads hate
and enmity.” In this holy month of Ramadan full of blood on Muslim
territories, let’s try to identify who are the ones who know well how
to kill. As the Syrian death count clicks every day to come close to
2,000, the Turkish-Kurdish death count does not stop, already over
40,000 since 1984, both adding to the big pool of blood called the
Middle East. Only during this Ramadan, the Kurdistan Workers’
Party, or PKK’s, death toll has reached 50 in this Muslim Kurds vs.
Muslim Turks war. This excludes the PKK casualties in Turkey and
in northern Iraq due to Turkish military retaliation since they are
seldom accurately reported.

Let’s speak of facts.

Sudan is not in the conventional Middle East, so let’s ignore the
genocide there. Let’s ignore, also, the West Pakistani massacres in
East Pakistan (Bangladesh) totaling 1.25 million in 1971. Or 200,000
deaths in Algeria in war between Islamists and the government in
1991-2006. But a simple, strictly Middle East research will give you
one million deaths in the all-Muslim Iran-Iraq war; 300,000 Muslim
minorities killed by Saddam Hussein; 80,000 Iranians killed during
the Islamic revolution; 25,000 deaths in 1970-71, the days of Black
September, by the Jordanian government in its fight against the

HOUSE_OVERSIGHT_031939
"
IMAGES-007-HOUSE_OVERSIGHT_023535.txt,"[9

about John Rawls and John Locke, a social contract between the
government and the governed. A Palestinian government that denies
his rights, he insisted, is as offensive as an Israeli one. When I
pressed him on whether his colleagues want two states—one
Palestinian, one Jewish—or a secular binational one, he seemed
strangely agnostic. He said that in an ideal world one democratic state
would be better, before adding that of course such a state would have
to guarantee the safety and cultural autonomy of Jews. (One of his
inspirations, he said, was Martin Buber, the Jewish philosopher who
advocated a binational state in the 1920s and 1930s). When I said I
didn’t consider a binational state very realistic, he conceded the
point, before noting that in the age of Netanyahu and Lieberman,
most Palestinians don’t consider a two-state solution very realistic
either. After a while, it hit me: This is what Israelis and American
Jews have been demanding all along. Didn’t we always say, during
the bloody Arafat years, that when the Palestinians produced Gandhis
everything would change? We’d never be able to resist; our Jewish
hearts would melt. Now that it’s starting to happen, I suspect the
response will be exactly the opposite: Yes, there’s something
admirable about young people like Fadi Quran, but who are they
kidding. This is the Middle East, not Palo Alto. It’s no place for
dreamers; they’ll get eaten for lunch.

Privately, many in Congress consider settlement expansion a
catastrophe and the occupation a disgrace.

Maybe so. But watching over Fadi’s shoulder as members of
Congress robotically rose to applaud Netanyahu, I couldn’t help
thinking of the contrast. Anyone who has spent any time around
Congress knows that many of the people who applauded Netanyahu—
the Jewish Democrats in particular—don’t actually support his
policies. Privately, many consider settlement expansion a catastrophe
and the occupation a disgrace. But they don’t want to create

HOUSE_OVERSIGHT_023535
"
IMAGES-003-HOUSE_OVERSIGHT_015039.txt,"HIGHER THAN THOU—
Checkmating With Pawns—
Tim Leary, Ram Dass, and Me—
Remembering Scott Kelman—
The 20"" Anniversary of the Summer of Love—

POLITICS—
The Last Election—
A Letter to Barack Obama—
Unsafe at Safeway—
The Yippies and the Occupiers—

PORN AGAIN—
Remembering Pubic Hair--
The Taste of Sperm—
Eating Shit For Fun and Profit—
“| Fuck Dead People” —

COMEDIANS
Remembering Lenny Bruce--
My Acid Trip With Groucho Marx--
Remembering George Carlin--
Roasting With Robin--
Remembering Dick Gregory--
The Missing Episode of Seinfeld--

THE LATER YEARS—
Are Rape Jokes Funny?
Words and Phrases That I’ ve Coined—
My Brother’ s Secret Space Communication Projects—
The Six Dumbest Decisions of My Life—
Alternative Facts—
| Played Thomas Jefferson’ s Violin—

HOUSE_OVERSIGHT_015039
"
IMAGES-009-HOUSE_OVERSIGHT_026727.txt,"Invesco

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47

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HOUSE_OVERSIGHT_026727
"
TEXT-001-HOUSE_OVERSIGHT_017488.txt,"﻿IN THE CIRCUIT COURT OF THE 
FIFTEENTH JUDICIAL CIRCUIT, IN AND 
FOR PALM BEACH COUNTY, FLORIDA 
CASE NO.: 502009CA040800XXXXMBAG 
JEFFREY EPSTEIN, 
Plaintiff, 
VS. 
SCOTT ROTHSTEIN, individually, 
BRADLEY J. EDWARDS, individually, and 
L.M., individually, 
Defendant, 
NOTICE OF FILING TRANSCRIPT IN SUPPLEMENTAL SUPPORT OF BRADLEY 
EDWARDS' MOTION FOR SUMMARY JUDGMENT  
Defendant/Counterplaintiff, BRADLEY J. EDWARDS, by and through his undersigned 
attorneys, hereby gives notice of the filing of the transcript of the deposition of Scott Rothstein 
taken on June 14, 2012. Specific portions of the deposition on which Mr. Edwards' relies in 
support of his motion for summary judgment are highlighted. 
I HEREBY CERTIFY that a true and correct copy of the foregoing has been furnished by 
!) 
U.S. Mail to all counsel on the attached list is day of June 2012. 
JA 
Fl 
rida 
C RdA 
ar No.: 169440 
Denney Scarola Barnhart & Shipley, P.A. 
21-39 Palm Beach Lakes Boulevard 
est Palm Beach, Florida 33409 
Phone: (561) 686-6300 
Fax: (561) 383-9451 
Attorneys for Bradley J. Edwards 
Edwards adv. Epstein 
Case No.: 502009CA040800XXXXMBAG 
Notice of Filing Transcript In Supplemental Support of Bradley Edwards' Motion for Summary Judgment 
Page 2 of 2 
COUNSEL LIST 
Bradley J. Edwards, Esquire 
Farmer, Jaffe, Weissing, Edwards, Fistos 
425 North Andrews Avenue, Suite 2 
Fort Lauderdale, FL 33301 
Phone: (954) 524-2820 
Fax: (954) 524-2822 
Jack A. Goldberger, Esquire 
Atterbury, Goldberger & Weiss, P.A. 
250 Australian Avenue South, Suite 1400 
West Palm Beach, FL 33401 
Phone: (561) 659-8300 
Fax: (561) 835-8691 
Marc S. Nurik, Esquire 
One E Broward Blvd., Suite 700 
Fort Lauderdale, FL 33301 
Phone: (954) 745-5849 
Fax: (954) 745-3556 
Tortja Haddad Coleman, Esquire 
Law Offices of Tonja Haddad, P.A. 
524 S Andrews Avenue, Suite 200N 
Fort Lauderdale, FL 33301 
Phone: (954) 467-1223 
Fa*: (954) 337-3716 
Lilly Ann Sanchez, Esquire 
The L-S Law Firm 
1441 Brickell Avenue, 15th Floor 
Miami, FL 33131 
Phone: (305) 503-5503 
Fax: (305) 503-6801 
Page 1 
IN THE CIRCUIT COURT OF THE 
FIFTEENTH JUDICIAL CIRCUIT IN 
AND FOR PALM BEACH COUNTY, FLORIDA 
GENERAL JURISDICTION DIVISION 
JEFFREY EPSTEIN, 
Plaintiff, 
vs. No. 502009CA040800XXXXMBAG 
SCOTT ROTHSTEIN, individually, 
and BRADLEY J. EDWARDS, 
individually, 
Defendants. 
500 East Broward Boulevard, 
Ft. Lauderdale, Florida 
Thursday, June 14, 2012 
9:14 a.m. - 12:37 p.m. 
DEPOSITION 
Of 
SCOTT ROTHSTEIN 
(Via Video Conference) 
Taken on behalf of the Trustee 
pursuant to a notice of taking deposition 
FRIEDMAN, LOMBARDI & OLSON 
305-37] -6677 
5ed93085-0554-447f-bcdd-ca2d8fe941df 
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1 APPEARANCES: 
2 
LAW OFFICES OF TONJA HADDAD: P A. by 
3 Tonta Haddad, Esq. 
Attorney for the Plaintiff. 
4 
6 
8 
9 
10 
11 
12 
ATTERBURY, GOLDBERGER & WEISS, P.A., by 
Jack Goldberger, Esq 
Attorney for the Plaintiff. 
SEARCY DENNEY SCAROLA ET AL, by 
Jack Scarola, Esq. 
Attorney for the Defendant. Brad Edwards 
MARC NURIK, P.A., by 
Marc Nurik, Esq. 
Attorney for Scott Rothstein. 
(Appearing via Video Conference.) 
13 U.S. ATTORNEY'S OFFICE, by 
Laurence LaVecchio, Esq. 
Attorney for the Department of Justice. 
Page 
INDEX 
WITNESS DIRECT CROSS REDIRECT RECROSS 
SCOTT ROTHSTEIN 
(By Ms. Haddad) 5 
(By Mr. Goldberger) 92 
(By Mr. Scarola) 121 
EXHIBITS 
PLAINTIFFS FOR IDENTIFICATION 
1 	64 
2 	69 
3 	72 
Page 3 
1 Thereupon: 
SCOTT ROTHSTEIN, 
was called as a witness and, having been duly sworn, 
was examined and testified as follows: 
THE WITNESS: I do. 
MS. HADDAD: Good morning, Scott. How are 
7 you? 
8 THE WITNESS: Good morning, Tonja. How are 
9 you? 
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MS. HADDAD: Fine, thank you. It's nice to 
see you. 
THE WITNESS: Good to see you, too. 
MR. SCAROLA: Mr. Rothstein, I don't know 
that you and I have met. I'm Jack Scarola, I'm 
representing Brad Edwards and1know you know Brad 
who's to my immediate left. 
THE WITNESS: Hey, Brad, how are you? 
Jack, good to see you. 
MR. SCAROLA: Thank you. 
MR. GOLDBERGER: Also present is another 
Jack, Jack Goldberger, andl also represent Jeffrey 
Epstein. To my right is Danyn lndyke --
THE WITNESS: Good morning, Jack. 
MR. GOLDBERGER: How are you today? 
And to my right is Darryn lndyke, who is 
Page 4 
Mr. Epstein's in-house counsel. 
MR. INDYKE: Good morning. 
THE WITNESS: Good morning, sir. 
MR. NURIK: Good morning, everyone. 
5 MR. GOLDBERGER: Hi, Marc, how are you? 
MR. NUR1K: Good. You'll be seeing my 
7 shoulder most of the day. 
MR. GOLDBERGER: Okay. 
9 DIRECT EXAMINATION 
10 BY MS. HADDAD: 
11 Q. Well, Scott, I know you've talked about this 
12 probably more than you even care to, but I'd like to 
13 start a little bit asking you about the scheme at your 
14 firm and how arid when it started and things of that 
15 nature just very briefly because] know you've covered 
16 it many times. 
17 MR. SCAROLA: It has been covered and 
18 protocol precludes asking questions that have already 
19 been answered and covering areas that have already 
20 been covered, so we do object. 
21 MR. GOLDBERGER: Your objection is noted. 
22 BY MS. HADDAD: 
23 Q. When did this first start? 
24 A. It started back in '05, '06. The question 
25 is a little bit vague for me because it started in a 
Page 5 
2 (Pages 2 to 5) 
FRIEDMAN, LOMBARDI & OLSON 
305-371-6677 
5ed93085-0554-447f-bcdd-ca2d8fe941df 
different form than it ended because it started as 
2 bridge loans and things of that nature, and then 
3 morphed into the Ponzi scheme. But you are looking 
4 back into the 2005 time frame for the very beginning. 
5 Q. The 2005 time frame, that's when the bridge 
6 loans started? 
A. I can't be certain exactly what we were 
8 doing. I need to see all the documents to tell you 
9 what we were doing at what specific point in time. 
1 0 Q. What made you decide to start doing this? 
1 1 A. I started doing it out of greed and the need 
1 2 to support the law firm, which was having significant 
1 3 financial trouble at the time. 
1 4 Q. And in 2005 had you moved over to 401 yet or 
1 5 were you still in the building where Colonial Bank 
16 was? 
1 7 A. I don't remember. 
1 8 Q. Do you recall approximately how many 
1 9 attorneys you had working for you when it started? 
2 0 A. I do not. Between five and ten, Tonja. 
2 1 Q. Was it before you started acquiring 
2 2 attorneys like you were acquiring cars and watches? 
2 3 MR. SCAROLA: Object to the form of the 
2 4 question, vague. 
25 THE WITNESS: Yes. 
Page 
1 BY MS. HADDAD: 
2 Q. Well, who were you partners with when it 
3 first started? 
4 A. Stu Rosenfeldt. 
5 Q. Okay. Anyone else? 
6 A. Susan Dolin, I believe. It was definitely 
7 Stu Rosenfeldt, Michael Pancier, and Susan Dan may 
8 have been partners of ours at that time, I'm not 
9 certain. 
1 0 Q. Because if memory serves me correctly, you 
1 1 went from being in the One Financial Plaza Building to 
1 2 the building across the street, it was Rothstein, 
1 3 Rosenfeldt, Dolin and Pancier; is that correct? 
14 A. Yes. 
1 5 Q. And it was some time later that you moved 
1 6 into the 401 Building, correct? 
1 7 A. You are skipping one step. I went from One 
1 8 Financial Plaza to Phillips, Eisinger, Koss, Kusnick, 
1 9 Rothstein and Rosenfeldt. Then Stu Rosenfeldt and I 
2 0 broke off and formed Rothstein Rosenfeldt. And then 
2 1 Rothstein, Rosenfeldt, Dolin, Pancier over at the 
2 2 Colonial Bank Building. And then we took the space in 
2 3 the 401 Building and eventually moved over there and 
2 4 that's when the real growth started. 
2 5 Q. And when you say, ""that's when the real 
Page 
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growth started,"" do you mean both the scheme -- do you 
mean the scheme and the fin-n or either one or both? 
A. Both. 
Q. Do you recall approximately when you took 
the space in the 401 Building? 
A. I do not. 
Q. At the time everything imploded, how many 
partners did you have at the fin-n, do you recall? 
A. Are you saying partners and shareholders? 
Because remember, we had both, two designations. 
Q. I want to start with just attorneys that 
had -- not in your firm name but named as ""partner"" on 
the cards, for example. 
A. I'd have to see a list of all the employees. 
We had a bunch. 
Q. Do you recall about how many attorneys you 
had working there? 
A. Approximately 70. 
Q. In the year before, do you recall how many 
you had? 
A. I do not. 
Q. So how many equity partners did you have or 
shareholders? I'm not sure of the word that we are 
using. 
A. Actual shareholders, equity shareholders 
Page 8 
were two, me arid Itti Is sso fekfl . 
Q. And evei one else  was just a partner for 
title purpoW 
A. There were shareholders for title u oses 
01.01...._-tnerlialiti5. 
1 Q. If someone was called a shareholder for 
title purposes then, did they get to receive any of 
the funds? Were they shareholders receiving money or 
s 9 they were not considered shareholders in that sense? 
i 10 MR. SCAROLA: Objection to the form of the 
' 11 question. 
12 THE WITNESS: What kind of funds are you 
13 talking about? 
14 BY MS. HADDAD: 
15 Q. In general from the firm. When you say 
1 6 equity shareholders, I understand that's you and Stu. 
17 What I'm saying is, if you had someone else that was 
1 8 named as a shareholder, why did you call them a 
1 9 shareholder as opposed to a partner? 
20 A. It was a title oflprestige and achievement. 
21 Q. So it was basically an ego thing, it had 
22 nothing really to do with the finances or hierarchy of 
23 the firm? 
24 A. They_got paid more_generally, but it did not 
25 1.2.2y_e_nyIlijngIo. 1 ja.....with distributions. 
Page 9 
3 (Pages 6 to 9) 
FRIEDMAN, LOMBARDI & OLSON 
305-371-6677 
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Q. When you were hiring and bringing in all 
2 these new attorneys, did everyone come in as a 
3 partner? 
1 A. No. 
5 Q. How did you decide who came in as a partner 
6 and who came in as an associate? 
7 A. Depended upon their level of expertise, 
8 practice, book of business. It was a decision Stuart 
9 and made together on a case-by-case basis. 
1 0 Q. So you and Stu where the -- were in charge 
11 of hiring? 
12 A. Stuart and 1 tried to consult on every 
13 hiring decision, yes. 
14 Q. Did you guys also decide salaries? 
15 A. 1 generally decided the salary and then let 
16 Stu know what] was going to do. And he would say if 
17 he thought it was okay or if he thought it was too 
18 much or too little, but 1 generally had free reign in 
19 that regard. 
2 0 Q. Did someone's book of business directly 
21 correlate to the salary that you would offer? 
22 A. That is a very broad question because it 
23 depends upon what other needs we had for that 
24 individual. 
25 Q. What do you mean by ""what other needs""? 
Page 
A. Well, I'll give you a good example. My 
2 lawyer, Mr. Nurik, his salary was directly related to 
3 the fact that he was a great lawyer and had a solid 
4 book of business. 
5 Q. Yes. 
6 A. David Boden, on the other hand, was, as I 
7 previously testified, l don't know if you've had a 
8 chance to read the testimony, but David Boden was not 
9 only the general counsel to the law firm but he was 
1 0 also -- acted as my consigliere in a significant 
11 number of illegal operations and he was compensated 
12 significantly for that, if that helps you understand 
13 the difference. 
14 Q. It does. 
15 So, for example, when you were hiring former 
16 judges, let's use that as an example, Pedro and Julio, 
17 clearly they don't have a book of business coming in 
18 because they haven't had clients, but they may carry 
19 some sort of prestige or give some legitimacy, if you 
20 will, to the firm. How would you decide the salary 
2 1 for someone like that? 
22 A. Stu and I would discuss it. It was more a 
23 market issue than anything else, how much are judges 
24 coming off the bench getting, how much business do we 
25 think they can generate. 
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Q. Would you need to look at someone's book of 
business if they were coming in just solely to be a 
rainmaker for the firm prior to hiring them? 
A. I discussed it with them. There were not 
many people that I recall that 1 actually looked at 
their numbers. Once David Boden was working for me 
had him check people's numbers, but I rarely looked. I 
took most people's words for what they were 
generating. 
Q. My recollection is, you were always looking 
to bring in more people, to hire more people, some of 
us were somehow able to resist you while others were 
not.  How would you decide  who ou were lookin at to 
bring into your firm?  
A. We were trying to develoate 
side of the law finn, we were try_i_p_g_t2leystos_mi 
talent, real practice groups.  I mean, Brad is a  
perfect 
You know, it was our hope that, you know 1_____j__2s2v_as_g2k)_g 
to be one of the people to actually in s 
rescue the firm because he had a practice groupb_al 
could generate substantial income. You know, on the 
le_gitimate side that's what we were trying to do, we 
were trying to find the best and the brightest. 
Q. 0122.WLtLEp_e_c_f_toj_12L-in_gill_Esople that 
Page 12 
aPIMUNIAMPIAMISIS. 
you thought could bring a book of business, you just 
said Brad for exam le that he had a legjtimats 
_a-Lc:fiee group with a good book of business. How did 
you know that?  
A. Everyone in the tort world that I had spoke 
yoke extremelyjijalysirad no_only_peopIe 1  
already had working for me but other people that knea.. 
him. He wa_s_ysi_y_-_-cm_y_e_ghighly recommended to 
us. 
Q-
A. 
Like who, for example? 
We wanted him in there. We were trying to 
develop a significant tort group and we thought that 
he'd be a great part of it. 
Q. Who besides Russ told you that about Brad? 
A. It would have been other people in the tort 
group. I don't want to guess, Tonja, as to which 
other people told me, but it was -- well more than 
Russ. 
Q. Was it people within --
A. Might have been people in politics that 1 
talked to that knew him because we had significant 
input at the gubernatorial level with regard to tort 
reform and the like, and there were people there who 
knew who Brad was. It was more than one person that 
told us that. 
Page 13 
4 (Pages 10 to 13) 
FRIEDMAN, LOMBARDI & OLSON 
305-371-6677 
5ed93085-0554-447f-bcdd-ca2d8fe941df 
1 Q. Okay. When you were looking at peoale to 
2 bring in as ou La_i_d. Your 
3 fin-n had a very unique area of practice and had a very 
4 unique environment to which to work. How did you know 
5 or  how did you come to decide what people may or may 
6 not fit into that? 
7 A. Okay. Hang on one second. I think1921 just 
8 accidentally misstated my testimony, 
9 Iwas not bringing the people in to  
1 0 legitimize the law firm. l_was bringing them in to  
11 the legitimate side of the law firm. The bulk of the 
12 law fi=ct plc the lack of financial success, was  a 
13 large group of ve honest, hard workin la ers 
14 ..5iLig.12_do their best in difficult economic 
15 conditions. There were some that were obviously not 
16 legitiinate. And the way I decided to bring people in, 
17 again, it's really everything I just told you. Are 
18 you looking for how I brought people into the Ponzi 
19 scheme? 
2 0 Q. No, right now I'm just asking about the firm 
21 because, as I said, it's a very unique way in which to 
22 practice and a very unique workplace environment with 
23 politics and restaurants and parties at your home and 
24 things of that nature. I'm asking, personality wise, 
25 other than the book of business, how did you decide on 
Page 14 
people that would be a good fit? 
2 A. I looked for people that were outgoing, that 
3 had the type of personality. On the legitimate side 
4 of the business, people that had charisma that were --
5 that could go out and hustle and try to develop a book 
6 of business if they didn't have it. And as one of the 
7 50 percent of the shareholders of the firm] was 
8 trying to hire people I wanted to work with. 
9 Q. Okay. When you would see people from whom 
10 you would offer jobs, for example, as you mentioned 
11 earlier with Brad and his practice, if somebody stated 
12 that people told you that he was a good lawyer, did 
13 you need to see him in action, so to speak, prior to 
14 your deciding to hire them or would you just take 
15 people at their word for it? 
16 A. Some of people I saw in action; he wasn't 
17 one of them. Steve Osber is an excellent example of 
18 that. I hired Steve after he was beating the living 
19 daylights out of me on the other side of a case. And 
20 I certainly would ask around about the people. But 
21 the people that I trusted -- see, I can't remember. I 
22 think Gary Farmer was working for me before Brad, and 
23 if I'm not mistaken he would have been one of the 
24 people that I went to with regard to Brad because we 
25 were really developing that whole tort group around 
Page 15 
that time with Fanner and Fistos and Jaffe and 
2 Mr. Edwards. 
Q. Do you know where Mr. Edwards was working 
when you first learned of him? 
A. I don't recall whether he was working for 
someone or had his own practice, I don't recall. 
Q. When did you first learn about Brad? 
A. I don't remember the time frame. 
9 Q. Do you recall when you first met with him 
10 regarding a job? 
11 A. No. The easiest way to figure that out is 
12 to go look at his personnel file, it will have the 
13 notes saying when he met with me the first time. 
14 Q. You don't have any recollection of your 
15 first meeting with him? 
16 A. No. As you know, I was hiring people left 
17 and right and I was also unfortunately very busy doing 
18 things I shouldn't have been doing, so I don't have a 
19 specific recollection of when I hired him. I barely 
20 have a specific recollection of when I hired me. 
21 Q. But you did, in fact, meet with him? 
22 A. I'm certain I met with him before I hired 
23 him. I can't imagine -- although I did hire people 
24 without meeting them. I did hire people based on 
25 other people's word, if they were people within the 
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firm that I trusted. Because] always said, I had a 
very simple, you lie or die by what you are telling 
me. If you are telling me this guy is good and he's 
not good, that's on you, it's going to hurt your 
income. So used to tell my partner, people that 
were recommending people to me, don't sell me a bill 
of goods just to get somebody in here because if you 
do that it's going to come back on you, it's going to 
affect your income and your ability to grow in the 
firm. So with that admonishment, I might have very 
well hired someone sight unseen based upon what 
someone else told me. 
Q. But you did meet with Brad you say before he 
came in to work? 
A. Now that I'm saying it out loud, I think I 
did but really I'm guessing. I don't have a specific 
recollection of meeting him. 
Q. Do you recall if you knew that he had worked 
as an assistant state attorney for a few years prior 
to doing tort litigation? 
A. I don't recall that one way or the other. 
Q. So you wouldn't have asked Howard Scheinberg 
or anybody about him before he came to work there? 
A. I can't say that I wouldn't have asked 
because, like I said, I might have asked. But 
Page 17 
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FRIEDMAN, LOMBARDI & OLSON 
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unfortunately, you are taking a little tiny spot out 
2 of a very, very busy time period in my life and in the 
3 life of the firm, so I can't tell you one way or the 
4 other. 
5 Q. I know you had a lot going on, I'm just 
6 trying to see if you remember anything specific about 
7 this. 
8 Do you recall what salary you had offered 
9 Brad to come join the firm? 
10 A. I do not. You have to just try to 
11 differentiate that what I knew then is a lot different 
12 than what] know now so ... 
13 Q. Meaning? 
14 A. Obviously meaning that at the point in time 
15 that I was hiring him or maybe a year after, I would 
1 6 be able to tell you what I was paying him, but now 
17 it's insignificant. I don't remember how much I was 
18 paying him. 
19 Q. Did ou learn about his book of business or 
2 0 know what kind of cases he was bringing in prior to  
21 hiring him? 
22 A. I do know that he -- I discussed either with 
23 Russ, well, I know with Russ, and perhaps some other 
24 people,1 knew about the Epstein case. 
25 Q. What did you know about it? 
A. 
2 otentiall si ificant value against an extreme] 
3 collectible pedophile, for lack of a better word. 
4 Q. So was that case your rimaty motive in 
5 bringing Brad into the firm? 
6 A. I doubt it. I mean, I can't tell you one 
7 way or the other, but I doubt that I would bring him 
8 in .ust for one case because what if the case  fails, 
9 then I'm stu 1Qsa_vithl_amgr who can't do anything, 
10 you know. 10 
11 I'm not saying, Brad, that you couldn't do 11 
12 anything, I'm just saying that if I only relied on one 12 
13 case, then if I bring a lawyer in for one case and one 13 
14 case only, what do I do with him when the case is 19 
15 over. 15 
1 6 Q. How did you know that this case would be a 16 
17 collectible case then? 17 
18 MR. SCAROLA: I'm going to object to the 18 
1 9 form of the question because it misstated the prior 19 
2 0 testimony. The prior testimony was not that it was a 20 
21 collectible case but that it was a case against a 21 
22 ""extremely collectible pedophile."" 22 
23 BY MS. HADDAD: 23 
24 Q. What made you think that this case had au. 24 
2 5 financial_____value? 25 
Page 
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A.  Epstein was a billionaire. 
Q. Okay. Did you know anything about the 
legitimacy or  illegitimacy of the, claims  prior to 
knowing he was a billionaire? 
A. I knew what I was told. I didn't check it 
out m self, but I trusted the people that told me. 
Q. And who told you? 
A. Tile_aily_p=1=e_i_niyiLL1Lssimingil 
with, as I sit here todayL is Russ Adler. But if 
Farmer and Jaffe and those guys were with me at the 
time, I likely would have discussed it with them as 
well. 
Q.  So were you aware of this case before lot,t 
made an offer to Brad to join the firm? 
A. Yes. 
Q. You said you didn't --I don't want to 
misquote you. You said you heard about it from other 
people, but you didn't do anything to know that 
personally. Was that before you made the offer of 
employment? 
A. I made the offer of employment based upon 
what other people had told me about Brad. 
Q. About Brad and his book of business or just 
Brad and his legal skills? 
A. Okay. When I say Brad, I mean Brad and his 
Page 20 
book of business and his legal skills. 
Q. Okay. 
A. And his ability to generate business in the 
future. 
Q. You stated that you believed that you first 
heard about these cases from Russ and then perhaps 
from Brad. Once Brad was at the firm, did you keep up 
with these cases, these Epstein cases? 
MR. SCAROLA: Excuse me, I'm going to 
object to the form of the question. It is an 
inaccurate reflection of the prior testimony. It has 
no predicate. There was no reference about having 
heard about these cases from Brad. The names 
mentioned were Adler, possibly Fanner, possibly 
Jaffe. 
BY MS. HADDAD: 
Q. DJELBJaLsialts ri a j. tiasluip , 
you've already testified you already knew about these 
Epstein cases, correct? 
A. Yes. 
Q. How did you kegobreast of these cases? 
A. I didn't. 
Q. You didn't know anything about them? 
A. I didn't say I didn't know anything. I said 
I didn't keep track of it.  
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1 Q. You didn't keep track of it? 
2 A. I did not keep track of it. From time to 2 
3 time Russ and the other guys in the tort group would 
9 tell me what was going on in certain cases, but until  
5 I made a decision to utilize that file for an illegal 
6 purpose related to something illegal that  I was doinl 
..._ 
7 along with my co-conspirators, I just assumed my 
8 layers were going_to work the case and eventually it 
9 would hopefully work out well for the law firm. 9 
1 0 Q. At your firm, when e-mails would go out to 10 
1 1 attorneys at RRA or all attorneys at RRA, were you 11 
12 part of that e-mail group? 12 
1 3 A. You are talking about all staff? I 13 
1 9 Q. No, all it says is attorneys at RRA. 14 
1 
1 5 A. It's the e-mail group ""attorneys""? 15 
16 Q. Yes. 16 
1 7 A. Yes, I'm a part of that e-mail group. 17 
1 8 Q. And I appreciate that you were very busy and 18 
1 9 may not have read all of them, but you did receive 19 
20 those e-mails when they would go around? 20 
2 1 
A. Yes, and I tried my best to read them. 21 
Q. Okay. At what point did you decide to use 1 
22 22 
23 this case to further your Ponzi scheme? 23 
24 A. I don't remember the date, but I can give 129 
25 you the circumstances, if you'd like. 125 
Page 22 
1 Q. Please do. 
2 A. The Ponzi scheme was running  very low on  
3 capital. My co-conspirators and I needed to find a 
4 new feeder fund, new investment sources. We had a 
5 couple of very large, significantly wealthy potential 
6 investors out there. I was looking for something that 
7 would have been very attractive. We had had a lot of 
8 inquiry during the due diligence period with these 
9 people that were doing due diligence on the putative 
10 cases that we were selling. And when I thou ht about 
11 the E stein case, realizing that it was a substantial 
12 actual file in the office2I camtjijde 
13 that if I created a fake confidential settlement 
1 4 circling around -- based upon this actual case, they 
15 would be able to increase the Leveloiskuililigeno. 
16 thatl was able to offer to my p_plentiajinvestors. 
17 Q. How did you know this was a substantial file 
18 in your office at that time? 
19 A. Again, through the people I spoke to in the 
20 office. 
21 Q. Such as who? 
22 A. Again, same people, Adler, Farmer, Jaffe, 
23 Fistos. 
24 Q. You never spoke to Brad about this case? 
25 A. j'3atbutfljoIjInore 
Page 23 
7 
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interaction --
Sorry, Tonja, I didn't mean to speak over 
you. 
tall...._<,12.112s=1_e_i_I the finn if 
the are honest with ou, they'll tell you m 
interaction was far more significant with Russ Adler, 
probably  more so because he was a co-conspirator of 
mine. My interaction  yy.id_i_Ru_-..E.e2Le_rly 
many, many percents over my interaction with Brad, and 
then you go down the line. 1 had more interaction 
with Mr. Farmer than I did with Mr. Fistos, more 
interaction with Jaffe than I did with Mr. Edwards, 
and so on. 
Q. Russ was the head of your tort group, right? 
A. Yes. 
Q. So these cases fell under the tort group; is 
that correct? 
A. Yes, it fell under the -- fell under Russ' 
purview ultimately, yes. 
Q. And Brad was a partner at your finn during 
the time these cases were there, correct? 
A. I believe that was his title. He was either 
partner or shareholder. I 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 -- I 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 I 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 I spoke to him about it. 
Q. Did you speak with Mr. Edwards about the 
case? 
A.  I don't have a specific recollection one wa 
or the other. I 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 
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1 what was going on. And I may have spoke to him, I 
2 know I spoke to Russ, but] may_laiLs_p_o_l_Ke to him as 
well within a couple of days jusLprior to this due 
4 dili ence because I was trying to at least et some 
5 information in my head that l could use when I was  
6 creatin this sto for the investors. 
7 Q. Scott, what's Q-task? 
8 A. Q-task is a web based software system that] 
9 had invested $7 million in. 
1 0 Q. And what was the purpose of this intemet 
11 system? 
12 A. To be able to communicate in a secure 
1 3 fashion and in a unique group fashion about specific 
1 4 files. 
1 5 Q. So forgive me, we all know I'm not good with 
1 6 the computer. That was something that would be useful 
1 7 within a law firm, why? 
1 8 A. Because it allowed you to create groups and 
I1 9 have both general and private chats, organize data in 
2 0 a very unique fashion. That was, at least to our way 
2 1 of thinking, would have been very, very helpful in the 
2 2 law firm setting with multiple practice groups. 
2 3 Q. Did you belong to any groups on Q-task? 
2 4 A. I'm certain that I did. I don't remember 
2 5 which groups I belonged to. I never got into the full 
Page 
1 and with that, with the Q-task and the e-mails, did 
someone assist you with reviewing everything and 
letting you know what was going on within the groups? 
4 MR. SCAROLA: Excuse me, I'm going to 
object to counsel's testimony. Object to the form of 
6 the question as leading. 
7 THE WITNESS: I really don't even 
understand the question. 
Can you try to rephrase it for me. Tonja? 
10 BY MS. HADDAD: 
11 Q. Of course, I would. 
1 2 Did you keep abreast of everything that was 
1 3 going on in every practice group or was someone 
1 4 through Q-task and e-mails, for example, or was 
15 someone giving you information keeping you posted on 
1 6 what was going on within the practice? 
17 A. Well, as part of the tort group I had a 
18 pretty good idea of what was going on there all the 
19 time just because of the significant amount of 
2 0 interaction, both legitimate and otherwise, that] had 
21 with Russ Adler, so I was probably more up-to-date on 
that group than any group other than the labor and 
employment group, again, because] had such 
significant interaction with Stu Rosenfeldt, both 
legitimately and illegitimately, so] knew what was 
6 Page 28 
1 use of it. I tried to, but again, I was very busy 
2 doing other things. But I know that Mr. Adler's group 
3 used it extensively. 
4 Q. Because it was your firm and, as you said, 
5 you invested $7 million in it, did you have the 
6 ability to access a group if you wanted to? 
A. Yes. And if1 couldn't,1 could get Russ to 
8 give me access. 
9 Q. So you didn't necessarily have to be invited 
1 0 into the Q-task group for you to be able to utilize or 
1 1 view the communications within it? 
1 2 A. No, that's not true. I actually had to be 
1 3 invited, that's what I was telling Russ to do, is to 
1 4 have me invited. 
1 5 Q. But I'm saying, the lawyers wouldn't have to 
1 6 personally invite you, you can get someone within your 
17 firm to give you access maybe without the lawyers 
1 8 knowing? 
1 9 A. No, I think it might have had a, quote, 
2 0 unquote, confidential, super secret viewing 
2 1 capability, but I don't recall it having that, and I'd 
22 have no need to utilize that. Just invite me into the 
23 group and let me see what's going on. 
24 Q. Okay. I know that you are or were a very 
25 hands-on person within certain of the practice groups 
Page 27 
going on in that group. 
I tried, as best as I could, given my time 
constraints, to stay on top of what was going on, you 
know, throughout the firm. But] relied on other 
people like Debra Villegas and Irene Stay and David 
Boden, Les Stracker to the lesser extent, to monitor 
7 what was going on in the different practice groups and 
keep me up to speed. 
Q. Was there audio and video surveillance 
0 throughout the entire firm or only within your office? 
11 A. No, through the entire office, not in the 
12 individual offices. 
13 Hang on. Not in the individual offices but 
1 4 throughout the general office space. 
Ii1 5 Q. So in 2009 how many floors did you have? 
16 A. Three, I think. 
1 17 Q. And do you recall approximately how many 
18 attorneys you had working there at that time? 
19 A. Approximately 70. 
20 Q. And when you say ""not the individual offices 
2 1 but the other areas,"" do you mean -- would that 
22 include conference rooms? 
23 A. I didn't have surveillance in the conference 
24 rooms. 
25 Q. So can you please tell me exactly where you 
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had audio and/or video surveillance? We'll start with 1 
audio. 
A. I don't have a specific recollection of 
every place I had video and audio, but it was in --
had it set up so that in all of the common areas, 
including our shareholder's lounge, we had -- I had 
audio and video capabilities. 7 
Q. When you say ""capabilities,"" does that mean 
you didn't always turn it on or you just turned it on 
when you felt like it? 
A. I turned it on when I felt like it, when] 11 
felt like seeing what was going on. lsometimes left 12 
the screen up becauselhad four computer screens on 
my desk, I sometimes left the screen on with the video 
of the reception area and some other general areas. 
But unlesslwanted to see what was going on or listen 
to what was going on, I didn't turn it on. It would 
have been too distracting. 
Q. Did the attorneys know that this 
surveillance existed? 
A. You can see it in the -- it wasn't hidden, 
you can see it. There were globes up in the ceiling 
all over the office. 
Q. Did you have -- you said -- you didn't 
answer this, you said you didn't recall. Did you have 
Page 30 
1 any surveillance in the conference rooms? 
2 A. No. 
3 Q. Other than the common areas you just went 
9 over, in the hallways and the reception -- did you 
5 have it in the hallways, is that a common -- do you 
6 deem that a common area? 
7 A. All the hallways pretty much with the 
8 exception of a few blind spots, I can see all the 
9 hallways. 
10 Q. And this was on all three floors? 
11 A. Yeah. For some reason I think we might 
12 have taken some space on a fourth floor, but I could 
13 be mistaken. But yes, on the three floors that we 
14 actively had a significant amount of space on,1 tried 
15 to have surveillance on all the common areas of all 
16 that space. 
17 Q. And what floor was Mr. Edwards' office on? 
18 A. I don't recall. 
19 Q. Did you have the tort group all together or 
20 was it divided up? 
21 A. Except for Adler, Adler was on with -- near 
22 me, down the hall from me. The rest of the group was 
23 all together. I think they were on -- let's see. 
24 There were people up on 22. I was on 16. He must 
25 have been on the other floor that we were building 
Page 31 
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out, because I remember building out space and I 
remember Jaffe and all those guys moving into that 
space. 
Q. If you were building up that space, do you 
recall when you put the surveillance in there? 
A. It would have been while they were building 
it out or shortly thereafter. 
Q. During 2009 it seems that you hired lots of 
former law enforcement people to work at the firm. 
Why were they people you wanted to hire? 
A. Severalfold. I had a significant amount of 
illegal activity going on with various law enforcement 
agencies throughout South Florida and hiring people 
from former law enforcement assisted me in engendering 
support and camaraderie with the law enforcement that 
I was actually utilizing in illegal activities. 
Q. So you are saying --
A. Secondarily, I wanted to have a very strong 
investigative team, ultimately, to do both legitimate 
and illegitimate things for the law firm, and hiring 
former law enforcement was the best way to do that. I 
was hoping to actually ultimately create a group. Ken 
Jenne and I had talked about that extensively. 
Q. Why did you hire Ken Jenne? 
A. Prior to Ken going to prison, he and] were 
Page 32 
very friendly and he was extremely friendly with 
someone that was very close to me, Grant Smith. 
During the time that he was down in FDC Miami,] went 
down to visit him. And after speaking to him and 
after speaking to Grant, I told him, because he was 
talking to me about how many people had turned on him 
and abandoned him. Andltold him that when he got 
out of jail that he had no worries, that] would give 
him a job. 
Q. And what --
A. And that was the primary reason -- that was 
my primary reason for hiring him. 
Q. What was it you were hiring him to do 
exactly? 
A. Ultimate the goal was to head up on 
investigative arm within RRA, within the RRA entities. 
Q. Well, while he was there, since that didn't 
happen, what was his obligation to the firm 
day-to-day? 
A. He handled firm security issues and he did 
handle overseeing certain investigative things. We 
had an alcohol and beverage group that was forming and 
he was overseeing that. He was helping me find new 
people to staff it, that kind of thing. 
Q. Did you have a lot of interaction --
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1 A. He had had significant -- as you know, he 
2 also had significant political connections and 
3 everyone who is not living under a rock knows] was 
4 doing everything I could to garner significant 
5 political power. 
6 Q. I think many people miss your parties. 
7 But, with respect to Mr. Jenne and his 
8 political connections, were you hiring him to utilize 
9 him with respect to any of the police department 
1 0 investigations? You had stated earlier you had 
1 1 dealings with police departments. I don't want --
1 2 again, I don't want to put words in your mouth. You 
1 3 said you had dealings going on with various police 
1 4 agencies? 
1 5 A. I had -- I mean, we had a criminal defense 
1 6 section in the law firm, so we had legitimate dealings 
1 7 with law enforcement. But I also had significant 
1 8 illegitimate things with law enforcement that had 
1 9 nothing to do with Ken Jenne. 
2 0 Q. And how about with respect to former FBI 
2 1 agents you were hiring? 
2 2 A. They were all people that were operating in 
2 3 a legitimate fashion within the law firm. 
2 4 Q. In what role was that? 
2 5 A. The investigative roles and the alcohol 
Page 34 
beverage roles and anything else Ken or other staff 
2 could think of to have them do. 
Q. Let's talk about the investigative roles for 
4 a minute. 
5 What kind of investigations were these teams 
6 running? 
7 A. I do not know. You have to speak to lawyers 
8 that were actually utilizing them. I put it out there 
9 and Ken put it out there, that they were available to 
1 0 lawyers in the fin-n for use like in-house 
1 1 investigators. And what people did with them 
1 2 ultimately was up to them. 
1 3 Q. Were they on salary or were their costs and 
1 4 fees associated with utilizing them within a specific 
1 5 practice group? 
1 6 A. They were all on salary with me. The 
1 7 ultimate goal was to have it as a separate entity that 
1 8 could bill the law firm and have the clients at least 
1 9 defray some of the cost. I don't recall whether or 
2 0 not we ever got to that level or not. 
2 1 Q. With all that in-house police action, why 
2 2 did you have police security surrounding you all the 
2 3 time? 
2 4 A. I guess the best answer was I was paranoid, 
2 5 but 1 mean -- that's the simple answer to it. You 
Page 35 
3 
4 
5 
6 
7 
know, having -- there were mixed reasons. For 
example,1 -- are you talking about my Fort Lauderdale 
police detail? 
Q. Yes. You had it at the office and at your 
home, correct? 
A. Yeah. There's a myriad of facts that 
motivated me to do that. One was that I really wanted 
the security for the office. Two was, I was paranoid 
and this is in no particular order. Three was the 
1 0 Melissa Lewis murder that shook the entire law firm 
1 1 and shook me terribly. I didn't want that to ever 
1 2 have to happen again. And four was, I wanted -- the 
1 3 more law enforcement you have around, the 
1 4 more legitimacy it adds to you and your appearance to 
15 the community. So there were a multitude of reasons. 
16 I mean, I hired certain law enforcement to 
17 work for me that were just friends of mine that 
1 8 were -- that needed additional money, so] wanted to 
19 make sure that they had money, both guys that did the 
20 illegal stuff for me and guys that didn't do anything 
2 1 illegal for me. 
22 Q. Let's go back to the Epstein case and when 
23 you decided to utilize it -- to use for the investors 
24 for your Ponzi scheme. 
25 Do you recall approximately when it was that 
Page 36 
these investors were coming that you decided to use 
2 the files? 
A. My best recollection it was  in 2009, 
sometimes after April of 2009 but l don't have a 
5 specific recollection bsyoj___id that. 
6 Q. What makes you think it was after April of 
7 2009? 
A. Because, to the best of my recollection, the 
Clockwork Group came in towards the middle of 2009. 
1 0 When 1 say Clockwork, that's an umbrella term that 
1 1 use to mean the Von Allmen, AJ Discala, and other 
12 investors that came in through that feeder fund. 
13 Q. So that was around April 2009? 
14 A. No, it was after, to the best of my 
15 recollection. I mean, you can tell because all you 
1 6 have to do is look and see when the first, very first 
17 Clockwork investment is. Actually, you can pinpoint 
18 it even closer. Look for the very first settlement 
19 deal that we did that was related to the E stein case, 
20 within 60 gays prior to that would have been when] 
21 was meeting with those due diligence people 30 to 
22 60 days before that. 
23 Q. _So_ all=t_LcLesige_d_t_o 
2 4 me through exactly what you did to familiarize 
25 yourself with that case. 
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A. ltalked to Russ Adler. I my have talked 
2 to some of the other lawyers. I flipped throgli 
3 certain boxes in the file. 
4 Q. How did you get the boxes? 
5 A. I  asked someone to bring them to me. 
6 Q. Do you know where those files were stored? 
7 A. I do not. 
8 Q. So you flipped -- sorry, please continue. 
9 Flipped through some files? 
10 A. I flipped through some files.  1 had the 
11 files in my office. The day that the investor group 
12 Ken Jenne and some others 
13 actually bring me some more of the boxes actually into 
14 my office while the investors were there. I already 
15 had some of the boxes with me. 
16 Q. You say ""Ken Jenne and others,"" who were the 
17 others to whom you are referencing? 
18 A. Idon't specifically recall who carried them 
19 in. 1 was very focused on my investors at that time. 
20 Q. Wei-e any of the lers resenvith ou 
2 1 when you were meeting with these investoD2 
2 2 A.  During the actual meeting with them, no. 1 
23 recall that some of the lawyers may have met some of 
24 the investors, but 1 don't recall who. 
25 Q. Do you recall approximately when that 
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happened? 
A. No, it's the same dates that] was giving 
you before. 
Q. Okay. So you had, to further your Ponzi 
scheme, you had to familiarize yourself with this case 
so that you could speak intelligently with the 
investors; is that correct? 
A. Well, sort of because  most of what 1 told 
the  investors,__aiahingLtftgtj_ns_cLe_atjma_,s I 
Tvient, 
Q. About this particular case, the Epstein 
case? 
A. Yes, from an investor -- you have to 
understand how the inner working of the Ponzi scheme 
8 
were crafted but --
Q. Please tell me then. 
A. I'm telling you -- hang on. From an 
investor's standpoint, the investor is simply looking 
for is the case believable., And once they get past 
that, is it of such case-- excuse me,  is it of such a 
nature that it is ossible to be eneratin a 
significant amount of settlement dollars. And then 
after that, t en- concern is sim_pl on the due 
diligence side of making sure we actually have the 
Irm_teydh.2111Je_c_Ipsz_nsp_t_s_p_ajj -- the documents 
Page 39 
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1 unrelated to this case, documents related to the 
settlements. Other than proving the existence of the 
case, there's very little an investor, at least from. 
my end, investigates into the actual case. It was 
more after having  the case exist and not carin about 
Le.aily  what was going on in the case other than a lot 
7 of mope was oin o be collected. 
Q. Well, with respect to showing them that the 
case existed and that there was a likelihood of a 
possibility of a payday at the end, how did you 
convince them of that? What did you use to convince 
them of that? 
A.  1 did two main things. One, I put the boxes 
in m office while the were there. I told them to 
pfi_c_ally_12.2)*Lat a couple of sheet 
manifest that was in the file that Russ had shown me. 
And I told them that it would be a breach of 
attorney/..clihiLt IT,-..i2.se_19rJ1rElq_I2,2,,Lat the 
file, but that I was g2i_n_g_t_o_Les_olitiox_a while and  
leave them there with the boxes wink. wink and 
that's what] did. I stepped out__,.....ni_pols_at 
whatever they wanted to look at. I came back in,  
were satisfied that it was a real case andl was off 
and running, 
Q. And ,these were the real legitimate files for 
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this case; is that correct? 
A. These were the legitimate fily_es. 
Q. Nothing had been created at this time for 
them to look through? 
A. I didn't add an thin to the case files. 
The case files werentemughly_themssty_e_s. 
Q. Do you know how long they were in your 
office; days, weeks? 
A. The people or the boxes? 
Q. The boxes. 
A. The boxes were in there probably a little 
more than a week. I don't have a specific 
recollection. 
Q. Okay. Did you ever go through them? 
A. Yes, I flipped through them at some point in 
time. 
Q. And what do you recall about what you saw in 
the cases? Do you remember anything? 
A. ..1=ratel,lesing 1.,g.:11Ln_jf,eAan . I 
aig_iy.thiagA§e. I'm sure I looked 
at other things, but again,  for my purposes it was 
insignificant to me because the actual content of the 
boxes was not necessa in the sale of the fake 
settlements.  
Q. Why was the flight manifest so interesting 
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1 to you? 
2 A. Because of who was on it. 
3 Q. Who was on it? 
4 A. I don't recall, but I do recall saying to 
5 the investors -- I recall having a conversation prior 
6 to the investors coming in with Russ Adler and Russ 
7 had told me that Epstein had flown Bill Clinton on his 
8 plane, had flown Prince Andrew on his plane. And] 
9 don't remember whether that was on an_y_Ztheilighl 
10 manifests or not, but I left that to the investors' 
11 imagination as to what they were being told about 
12 Mr. Epstein and these other famous people that were 
1 3 cavorting with Mr. Epstein and let them look at the 
14 file. 
15 You have to understand from an investor's 
16 perspective -- hang on. From an investor's 
17 perspective the only thin that Tatters to ths 
1 8 investor is that it's a real case and that they can  
19 ysi-jk_172.t.t-eal d9lIgaare beingxaid. The fact 
20 that it was a real case was evident, I had a lot of 
bco_cs_withml_pding_rs in it and a lot of other 
22 information in it. The fact that there was real money 
23 lein aid was a fiction that was created b me and m 
24 co-conspirators everyone from bankers, to computer 
25 people. So the actual role of the case, and I want to 
Page 42 
1 make sure you understand this, the actual role of the 
2 actual physical case in the Ponzi scheme is, from my 
3 It waslust another vehicle for 
4 me. 
5 Q. After that initial meeting with the 
6 investors where they looked at the file, what happened 
7 with respect to their desire or lack of desire to 
8 invest? 
9 MR. SCAROLA: Excuse me. I'm going to 
10 object to the form of the question, it assumes facts 
11 not in evidence. There's been no testimony that the 
12 investors actually looked at the files, only that 
13 they were given the opportunity to look at the files. 
14 BY MS. HADDAD: 
15 Q. Was your video surveillance on when you left 
16 the investors alone in your office? 
17 A. No, no, I didn't have cameras in my office. 
18 1 didn't let people look in my office when I was in 
19 there, that would have been bad. 
20 Q. SoysiLleft them alone in there? 
21 A. Yes. 
22 Q. 92/2iirecall for approximately how long? 
23 A. .N2 t...m-silaaa2,110.  It was a short 
24 ,period of time.  
25 Q. When you went back in what happened? 
Page 43 
10 
1 11 
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1 A. l went back to sellin the Ponzi dea 
Q. And did you sell it? 
3 A. I believe] did. You'd have to look at the 
4 actual settlement documents to see if I put one 
together for that, but I'm pretty sure we did. 
Q. Do you recall if the investors asked you for 
7 any additional information or any additional 
documentation? 
A. I don't recall one way or the other. 
Q. After this initial meetin with the 
y_o_t_gt this  
particular case? 
A. To whom? 
Q. To any of the attorneys working on the 
Epstein case. 
A. No. I didn't interfere in how they were 
runnia their cases. They were far more experienced 
than I was in that ty_ps...L.LiEnc. JI.t_g__n_t that ipe of 
case. Asa matter of fact, was practicing very 
little real law at this point in time. I wouldn't 
have had time to tell them or to get involved. 
Q. Did you—ever keep up with this case after 
this initial meeting with the investors? 
A. I'm certain that I talked to Russ Adler 
about it from time to time, but my main focus by this 
Page 44 
point in time in 2009 was the Ponzi scheme. 
Q. Did you try to sell this particular 
settlement to any other investors? 
A. I don't recall one way or the other. 
Q. Okay. Didiou ever have any conversations 
with an of our investors about this E stein case? 
A. I don't recall one wa or the other. 
Q. I notice there's been a privilege log 
produced with respect to e-mails. There seems to be 
10 quite a bit of communication between you and Ken Jenne 
11 with the topic being the Epstein case. Do you have 
12 any recollection what that would be about? 
13 A. I don't. As I sit here today, l don't have 
14 a specific recollection of having significant e-mail 
15 contact with Ken Jenne about the case. But if you are 
16 telling me I did, accept that, but I don't recall 
17 what it was. 
18 Q. lailisLyot._ ...ilaslitatEcillLat_nhstryou were 
19 hiring good attorneys such as Mr. Edwards, looking at 
20 their book of business was -- I don't want to put 
21 words in your mouth --.it was the legitimacy of the 
22 practice, it would bring hilsgitimate money to the 
23 practice, is that what you were hoping to do? 
24 A. Earlier when I testified I specifically 
25 testified that I personally did not look at most of 
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their book of business. This being said., I was 
2 bringing  in legitimate lawyers to form legitimate 
.21-ps..tice  mtg._ J=Qp_i___-acticelsgtthijajg..] 
4 nothing to do with the Ponzi scheme. 
Q. During the year 2009, were there any, to 
your knowledge, any big settlements of any cases at 
RRA? 
8 A. To the best of my recollection, no. We had 
9 a dismal year. 
1 0 Q. The year 2009 was just dismal across the 
1 1 board? 
1 2 A. Some people did better than others, but yes, 
1 3 overall it was for a firm of 70 lawyers, it was 
1 4 dismal. 
1 5 Q. So there were no big wins coming into the 
1 6 firm as far as a financial windfall other than from 
1 7 your other businesses? 
1 8 A. The only significant capital coming into the 
1 9 firm was money my co-conspirators and I were stealing. 
2 0 Q. Was there any particular practice group that 
2 1 you can remember that had a particularly non-dismal 
22 year in 2009? 
2 3 A. Mr. Nurik had a good year. 
2 4 Q. Do you recall what the gross revenue was 
2 5 from legitimate sources in 2009? 
Page 
1 A. It was somewhere between eight and 
2 $10 million, probably right around the nine million 
3 mark. 
4 Q. Do you know what your --
5 A. On its best day. 
6 Q. What was your overhead for salaries in 2009, 
7 do you recall? 
8 A. I don't have a clue. 
9 Q. Was it more than you brought in 
1 0 legitimately? 
1 1 A. With what I was paying in salaries, I'm --
12 mean, I'd be guessing. If it wasn't more than, it was 
1 3 certainly close to it. 
14 Q. That's just salary, that's not talking about 
1 5 anything else, rent, overhead, things of that nature? 
1 6 A. That's correct. 
17 Q. Who was paying for the investigations of the 
1 8 cases that were going on in 2009, the deposition 
1 9 costs, the filing of complaints, and things of that 
2 0 nature? Where did that money come from from your 
21 fin-n? 
22 A. It varied from case to case. 
23 Q. For the tort group? 
24 A. It was fronted by the law firm for the most 
25 part. 
9 
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Page 47 
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25 
Q. For the most part. 
What wasn't fronted by the law firm? 
A. I recall there being a couple of agreements 
that various tort lawyers had with certain clients 
where they were going to assist in helping to pay the 
costs. All the other costs would have been paid by 
the law firm, both through legitimate and illegitimate 
means. 
Q. So when you say by ""illegitimate means,"" 
where would the illegitimate means money come from? 
A. It came from the Ponzi scheme, and all the 
tentacles of the Ponzi scheme, other illegal activity. 
Q. Such as? 
A. Things I was doing with law enforcement, 
things] was doing in politics, things that I was 
doing with organized crime, things I was doing with 
politicians, judges, other lawyers, bankers, business 
people, things of that nature, I'm sure there's more. 
Q. Do you recall if any of these Epstein  cases 
underwent significant investigation while the cases  
were at your firm? 
A. _I'd be guessing.  1 don't remember. 
Q. There was a meeting in 2009, July of 2009, 
and it appears from the e-mail communications that it 
was for everyone in the firm to attend and it was 
Page 48 
regarding the Epstein case. In fact, there was an 
Epstein conference room that was reserved for it. 
Were you present at that meeting? 
A. I may have been. 
Q. Do you recall? 
6 A. I don't recall one way or the other. 
7 Q. You don't recall it. 
Do you recall anything about the Epstein 
case in July of 2009? 
A. I do not. Do you have something that might 
refresh my recollection? 
MS. HADDAD: Can we just take a five-minute 
break right now? 
THE WITNESS: Sure. 
MR. GOLDBERGER: Thank you. 
MS. HADDAD: Thanks. 
[Short recess taken.] 
BY MS. HADDAD: 
Q. Scott, I was asking you before we took the 
break about a meeting with respect to the Epstein 
cases. There was a 159-page privilege log filed, 
which I'm sure you don't have and are not aware of. 
But in it there are many, many e-mails to both 
attorneys at RRA, yourself, and Mr. Nurik regarding 
the Epstein litigation. And all this resolved in July 
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1 of 2009 about the Epstein meeting and some additional 
2 investigation into the Epstein case. 2 
3 Does that refresh your investigation as to 
4 when you met with the investors in the 
5 Di scal a/CI ockwork Group? 
6 A. It does not. The best thing to refresh my 6 
7 recollection as to when I met with them would be to 7 
8 see the deal documents. 
9 Q. Okay. I unfortunately don't have those. 9 
10 Do you recall if you took Discala and his 10 
1 1 other investors to a football game in 2009? 1 1 
1 2 A. Sure.] did. 12 
1 3 Q. Okay. Would that be around the time you 13 
1 4 were trying to get them to invest in the case? 1 4 
1 5 A. It would have been around the time I was 15 
1 6 trying to get them to invest in general. It's may 1 6 
1 7 have been around the time that I was showing them the 17 
18 Epstein file. 18 
1 9 Q. Did you show them any files other than the 19 
20 Epstein file? 20 
21 A. I may have. don't have a specific 21 
2 2 recollection one way or the other. 22 
23 Q. You testified earlier that you had over a 23 
2 4 dozen boxes brought to your office that were related 24 
2 5 to the Epstein case. 25 
Page 50 
MR. SCAROLA: Excuse me, counsel. Counsel, 
2 there has been no such testimony. 
3 BY MS. HADDAD: 
4 Q. You said there were several boxes brought to 
5 your office by different people. You don't recall who 
6 that is; is that correct? 
7 A. Yes, I had some boxes already in my office 
8 and I had Ken Jenne and some other people bring some 
9 others. I don't remember how many boxes. 
1 0 Q. Was it more than three? 
1 1 A. Sure, it was more than three boxes, yes. 
12 Q. Was it more than 10? 
1 3 A. I don't believe so, no. 
1 4 Q. You stated that you looked -- I don't want 
1 5 to put words in your mouth. What did you look at 
1 6 specifically in that case? 
1 7 A. Other than looking at the flight manifest 
1 8 that Russ Adler told me to look at, I have no specific 
1 9 recollection as to what I looked at in that file. 
2 0 Q. Do you know if there was more than one case 
2 1 being prosecuted by your office against Mr. Epstein? 
22 A. To the best of my recollection there were --
2 3 it was multiple plaintiffs. 
2 4 Q. Okay. Do you recall if those cases were  
2 5 pending in state or federal court?  
Page 51 
A. I  don't recall.  
Q.  Did you check? 
A. _1 don't remember one way or the other. It., 
was insignificant to me.  
Q. Well, then explain to me. You testified 
earlier that what was important to the investors to 
see is that there was a real case, correct? 
A. Yes. 
Q. What did you look at or show them -- what 
did you look at, first of all, to see if it was, in 
fact, a real case? 
A. I knew it was a real case. 
Q. How did you know? 
A. Because my lawyers told me it was a real 
case. I believed them. 
Q. What lawyers told you that? 
A. I already told you it was a mixture of Russ 
and Jaffe and Fistos and Farmer and Mr. Edwards. I 
mean, I knew it was a real case. We had all these 
boxes, we had people really working on the file --
Q. How do you know --
A. --or they were pulling a hell of a scam on 
me. Not that I didn't deserve it but ... 
Q. How did you know, you just said you knew 
people were working really hard on this case. Who do 
Page 52 
you know was working on the case? 
A. :The only people that 1 knew for certain were  
working on the case was Brad Edwards and Russ Adler 
ervisory schtick, whatever that was. 
her than th at, I ,s12111.1m_cnow which other la ers 
..w_e_re assisting Mr. Edwards. Fdidn't get involved at 
that level.  
As far as the Ponzi scheme goes, the only  
thing] cared about, Tonia, was being„able to show the 
10 investors that this case that I was utilizing to steal  
11 ..1jignificant amount of from th m was a re 
12 case. That's all I cared about  
13 Q. That case came into your office through 
1 4 Mr. Edwards, correct? He brought it with him when he 
15 came to RRA? 
16 A. Yes. 
17 Q. He was lead counsel on the case, correct? 
1 8 A. I assume he was lead counsel. I never 
19 checked to see if he listed himself as lead counsel. 
20 Q. Do_you know if any additional complaints 
21 were filed while the case was at RRA? 
22 A. I have no idea one way or the other. 
23 Q. Did you ever instruct, in furtherance of 
24 y.291-  Ponzi scheme, Mr. Edwards or anyone in that 
25 litigation group to file additional comp? 
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1 A. No. 
2 Q. Who is Cara Holmes? 
3 A. Who is who? 
4 Q. Cara or Cara, C-a-r-a, Holmes? 
5 A. To the best of my recollection, she was a 
6 former FBI agent or maybe IRS agent. I don't know. 
7 She was a fon-ner federal agent. 
8 Q. Did you hire her to work for you? 
9 A. It was either IRS or FBI. 
1 0 Q. Did you hire her to work for you? 
1 1 A. Yes, I hired her at the suggestion of Ken 
12 Jenne. 
13 Q. For what purpose? 
14 A. To work in the group that he was overseeing. 
15 Q. So what did she do for RRA while she was 
1 6 there? 
17 A. I don't remember. 
1 8 Q. Did you ever mention her to your potential 
1 9 investors from the Clockwork group? 
20 A. It's a possibility because, as 1 was 
2 1 building the Ponzi scheme, I frequently referred to 
22 the fact that we had former state and federal law 
2 3 enforcement working for us and on our investigative 
2 4 teams. It added legitimacy to the Ponzi scheme. 
2 5 Q. Didn't you tell investors that she could 
Page 54 
1 hack into a computer as part of her skills? 
2 A. I certainly may have. Itold the investors 
3 a whole host of lies about what was going on about 
1 with case and what people could do and did do. 
5 Q. Did you ever personally utilize Cara Holmes' 
6 skills in any of your cases? 
7 A. I don't remember. 
8 Q. Were you handling any cases during the 2009? 
9 A. I was overseeing cases in 2009, but my 
10 involvement was mostly supervisory. I was handling 
11 very little that was legitimate at that point in time. 
1 2 Q. Were you legitimately, when I say 
13 ""legitimately,"" were you invited into Q-task on any 
1 4 particular cases that you can recall? 
15 A. I'm certain I was. I don't recall one way 
16 or the other. 
17 Q. Do you recall if you were involved in 
18 Mr. Epstein's case on Q-task? 
19 A. I may very well have been, but don't have 
20 a specific recollection one way or the other. 
21 Q. Do you know who invited you in? 
22 A. 1 have no idea if] was invited in. And if 
23 1 was invited in, I have no idea who invited me. 
24 Q. Once you decided to use this case in your 
25 Ponzi scheme, did you go into Q-task to look at the 
Page 55 
9 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
1 case or any communications --
A. I may have. 
Q. Do you recall when that --
A. I may have. 
Q. Do you recall when that may have happened? 
A. I do not. 
Q. Do you recall the first time you looked at 
the flight manifest to which you referenced earlier? 
A. Prior to the investors coining in. I don't 
10 remember the date. 
11 Q. Did you instruct anybody, to further your 
12 Ponzi scheme, to investi ate or check into an one 
13 whose name was listed on the flight manifest? 
14 A. I may have, but with this clarification. If 
15 I instructed someone to look into somethin•, I did it 
16 with2t-son _g(nowin that I was involved  in a 
17 Ponzi scheme or that what they were  doing was illegal  
18 and it was just to et in additional information to 
19 help with2Lay sale  of the fake settlements. 
20 Q. So it was to further your --
21 A. Ii ,.(ed -- I may have 
22 asked someoneIo_gstiLnn, 
23 bt_lt_alLiI1_iere Lolai,Islon't re allsgdn 
24 anyone to do anything on the file that was for the 
25 jaiEp_o_se of furtherhydhe Ponzi scheme, other than 
Page 56 
perhaps getting me a piece of information that I 
needed. 
Q. I'm going TO try to refresh your 
4 recollection as to whether or not you attended those 
meeting in July of 2009. And it appears that in 
between the dates of July 22nd, 2009 and July 24th, 
2009, there was a number of communications through 
e-mail by and between yourself, Mr. Adler, Brad 
Edwards and Ken Jenne regarding an Epstein meeting 
that was going to be taking place. Do you remember 
that at all? 
A. I think what you are referring to, and I'm 
not certain, but I think that what you are referring 
to is me making sure that the file was in the 
condition in which I wanted it at the time the 
investors were coming in. I don't think it had 
anything to do with the actual functioning of the 
Epstein case. I think it had to do with my 
illegitimate purpose. That's the best of my 
recollection, but if you have documents or something 
that you can show me, that would be helpful. 
Q. We are not privy to all of the e-mails 
because they've been alleged as privileged or work 
product, so I unfortunately can't show them to you. 
But according to the privilege log between 
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9 
10 
11 
12 
13 
14 
15 
16 
17 
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July 22nd and 23rd there were numerous e-mails sent 
about the meeting. It was almost an all-hands-on-deck 
type meeting where everybody needed to attend. It was 
labelled the Epstein meeting with an Epstein 
conference room reserved. 
A. Yes. 
Okay. What's your question and I will tell 
you. 
MR. SCAROLA: First I'm going to object to 
counsel's testimony, but let's hear the question. 
BY MS. I-I.ADDAD: 
Q. The question is, does that refresh your 
recollection as to whether or not this meeting took 
place? 
A. To the best of my recollection, I actually 
had introduced some of the investors to some of the 
people working on the Epstein case, and that is likely 
the meeting that you are referring to. But for the 
life of me, I don't have a specific recollection of 
It. 
Q. But it could be the meeting where you 
introduced the Epstein litigation team to your Ponzi 
investors? 
MR. SCAROLA: Excuse me, I'm going to 
object to the fon-n of the question. It misstates the 
Page 58 
1 prior testimony. It has no predicate. 
2 BY MS. HADDAD: 
3 Q. That could have been the meeting in which 
4 you introduced the Ponzi investors to people working 
5 on the Epstein case? 
6 MR. SCAROLA: Excuse me, counsel. The 
7 testimony was that there may have been a meeting at 
8 which investors may have been introduced to some 
people working on the Epstein file. And your efforts 
continuously to mischaracterize the prior testimony 
are highly improper. I object. 
BY MS. HADDAD: 
Q. Scott, did you or did you not say that you 
introduced some of the investors to some of the 
lawyers on the Epstein case? 
A. No, I actually said, Tonja, that I may have. 
I have a recollection that I may have based upon you 
just refreshing my recollection, but I just.do rt_o_t 
IsIns_ratle....02.22-. This was, in the 
scheme of what I was doing, insioificant. I was 
_s_i_mlyjaing_t_as..s..t.a1._)lish to th.5,,intors that this 
was a real case, with real potential,with real 
lawyers working on it. Other than that,  it was of no 
interest to me.  
Q. How else would you convince them? You've 
Page 59 
1 
2 
3 
4 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
mentioned letting them look through the litigation 
boxes, you've mentioned the meeting. What other way 
would you have convinced them that it was a real case? 
A. I mentioned letting them look at boxes, what 
they did when I was out  of the office, that's --
don't know because I couldn't see what they were 
doing. Number two,] may have introduced them to 
people in the office. Number three, I'm certain that 
.A2LIten ht the boxes to my office I 
roduced them to whoever was ca in thej19_Les. 
And number four the rest of it would have been all 
.s_tultea_t_e_dinnation because,again, it 
was the sale of something that didn't exist. This was 
not settlin There was no real settlement mone 
There were no real settlement documents. 
manufactured I think, the actual plaintiff, because I  
don't recall even knowing the plaintiffs real name or 
if I did it was of no significance tome. 
Q. How would you have manufactured a 
plaintiffs name, would you have created additional 
documents to further your Ponzi scheme using 
Mr. Epstein as the defendant? 
A. No. 
Q. How would you --
A. The name 'um on the 
Page 60 
Eap 
Q. Would they have already seen the documents 
at that point? 
A. I can't tell you one way or the other what 
they had seen, because I don't know what they actu_ally 
looked at. 
Q. Forgive me, you've now confused me so I'm 
just going to ask you for some clarification. 
You used a lsitimate _case and crssatec_Lf.a,le 
10 settlement documents, correct, in the simplest sense? 
11 A. If this culminated in an actual sale of a 
12 ettlementthentheanswerises. 
13 Q. So it was a real case with a real plaintiff 
14 and real defendant, just a fake settlement document? 
15 A. No. Let me see if I can clarify this for 
16 you. Over 90 percent of the settlements that I sold, 
17 the fake settlements, were completely fictitious? 
18 --Q. Right. 
19 A. _lysy§..122..allssi_g_Tenta esittemx_vers_ 
20 at  leastinsart, on some ty_pe of rep] litigation that 
21 stkey_taigssurcarjsAy_occ 
22 utilized the Epst_e_L c..aig_t_p_liolsleubs_visual for 
23 the investors that a real case existed. Because as 
24 these were being sold to more sophisticated investors, 
25 the questions kept coming up, was there -- how do we 
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know this is a real case? So I was finally able to I 1 
2 say this is how you know, here is a case file. I may 2 
3 have, I don't remember specifically one way or the 
4 other, but I ma have utilized actual plaintiff names 
5 from_____the cases filed but I ma have made them u 
6 -have no s ecific recollection one way or the other. 1 
7 
8 
9 
1 0 
1 1 
1 2 
13 
14 
1 5 
1 6 
1 7 
1 8 
1 9 
2 0 
2 1 
22 
2 3 
24 
2 5 
,was totally geared toward sim 1 ettin the investor 	7 
money into the Ponzi scheme. 
Q. Were you aware that the day after this 	9 
tool_s_place July 24th, 2009, a new federal 	1 0 
.meeting _on complaint was filed ag2jm.LERsIsin with one of the 	1 1 
same plaintiffs that was already pending in state 	1 2 
court? 	13 
A. I don't know that I was aware of that or 	14 
not. If they were filing it, someone may have told 	1 5 
me. I don't recall one way or the other. 	1 6 
Q. Did you ask anyone to file it to further 	1 7 
your Ponzi scheme 	1 8 
A. No I don't remember doin that. 	1 9 
Q. Do you recall any situation where you -- 	2 0 
A. You do realize -- Tonja, hang on. I just 	21 
want to make sure this record is clear. Other than 	22 
Russ Adler, the ps_o_ple that were involved in the 	2 3 
E stein case had absolutel othin to do with the 	24 
Ponzi scheme. 
Page 62 
1 Q. Directlyy 
2 A. Or indirectl They had nothin to do with 
3 it 
4 Q. Yet the file was used for you to further 
5 your Ponzi scheme. I'm not saying that they gave it 
6 to you to use for the Ponzi scheme, I'm asking, you 
7 used their case. I'm not -- the question is you used 
8 the case? 
9 A. I took advantage of some good, innocent 
1 0 people for my own and nty_s_oLcir_al2f:_s_illegal 
1 1 purposes. Mr. Edwards is one of them, and for that  I 
1 2 am sorry, Brad.  
13 Q. Did you ask anyone involved in the Epstein 
1 4 case to file a federal complaint? 
1 5 MR. SCAROLA: Objection, repetitious. 
1 6 THE WITNESS: Without seeing a document, 
17 Tonja, I can't tell you one way or the other. I 
1 8 don't want to -- I do not want to guess. If you have 
1 9 an e-mail where I'm saying to someone, file a federal 
2 0 case, then obviously I did. But I have no specific 
2 1 recollection of that. 
22 BY MS. HADDAD: 
23 Q. You do have a document with you, it's marked 
2 4 for you, it's Bates stamped. It begins at EP 081 and 
25 goes through through 264. 
Page 63 
A. Hold on one second. 
Okay. What number am I looking at? 
Q. It's a very large document. It's begins 
with Bates Stamp Number 081 and ends with 264. 
A. It's in the computer, hold on a second. 
I have that in front of me. 
Q. Do you see the date on that complaint 
stamped? 
A. I do. 
Q. And there's -- give me one second, Scott, 
sorry. 
What was the date that complaint was filed? 
A. What's the last page of the complaint, 
what's the Bates number? 
Q. The last page is 234. I'm sorry, 263 would 
be the last page of the complaint. 
[The Complaint referred to was marked for 
identification as Defendant's Exhibit 11 
MR. SCAROLA: You may want to call his 
attention to the filing stamp on the first page. 
MS. HADDAD: I did. I guess he didn't hear 
MC. 
THE WITNESS: I'm sorry. 
MS. HADDAD: It's stamped on the first 
page. 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
Page 69 
THE WITNESS: Hang on, the complaint is 
dated July 24th, 2009. It was entered onto the 
docket on July 27th, 2009. 
MR. SCAROLA: Do you have another question? 
MS. HADDAD: 1 thought he was still looking. 
Scott, are you done looking? 
THE WITNESS: Yes, one second. 
MS. HADDAD: That's what I thought. 
THE WITNESS: No, hang on one second. It 
shows the stamp on the first page says July 24th, 
2009. The filing say electronically filed July 24th, 
2009. There's an entry onto the docket on July 27, 
2009, and the complaint is signed July 24th, 2009. 
That's all the dates I have. 
BY MS. HADDAD: 
Q. Okay. And back on Bates Stamp Page Number 
263, who's the attorney that filed this complaint? 
A. I don't know if that's his signature, but 
the name is Brad Edwards. 
Q. Okay. And does that e-mail --
A. With the squiggle on top of it. 
Q. And does that e-mail address look like the 
correct e-mail address for RRA? 
A. It is. 
Q. So that is, in fact, a legitimate e-mail 
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address from your firm; is that correct? 
2 A. Yes. 
3 Q. And were you filing any cases back in 2009 
4 in federal court? Do you remember how PACER works? 
5 MR. SCAROLA: Which question would like 
6 answered? 
7 THE WITNESS: I don't remember. 
8 MR. SCAROLA: Objection, compound. 
9 BY MS. HADDAD: 
1 0 Q. Do you remember how PACER worked when you 
1 1 were filing a case, Scott? 
1 2 A. I actually never actually did the actual 
1 3 electronic filing procedure. I had people that did 
1 4 that. 1 knew that we could file electronically. 
1 5 Q. Do you know the purpose of your using your 
1 6 e-mail address when you were filing electronically in 
17 federal court? 
1 8 A. I guess so you can get a receipt, but I have 
1 9 no idea. 
20 Q. Did you ever receive an e-mail from federal 
2 1 court in your e-mail address that showed that a 
2 2 document had been filed with the stamps that you see 
2 3 on the top of that one? 
2 4 MR. SCAROLA: Counsel, are you 
2 5 attempting --
Page 66 
THE WITNESS: I don't know one way or the 
2 other. 
3 MR. SCAROLA: Are you attempting to 
9 establish that that complaint was filed in federal 
5 court by Brad Edwards? 
6 MS. HADDAD: I'm asking him if he recalls 
7 the way it's drafted and why. 
8 MR. SCAROLA: Just ask your question. 
9 MS. HADDAD: I'm asking a question. If you 
10 have any objection, please lay it on the record. 
11 MR. SCAROLA: No, what] want to do is try 
12 to save some time. If what you are trying to 
13 establish is that Brad filed the complaint in federal 
1 4 court on July 24th and used the PACER system, you 
15 don't need to ask any more questions about that, it 
16 happened. 
17 MR. GOLDBERGER: We appreciate that, but 
18 when we depose you we'll ask you that question. But 
19 we are deposing Rothstein right now so let her ask 
2 0 her questions. Don't do this speaking stuff, let her 
21 ask the questions, okay? 
22 MR. SCAROLA: Maybe. 
23 MR. GOLDBERGER: Okay. Go ahead, Tonja. 
24 BY MS. HADDAD: 
25 Q. Scott, did you ever get e-mails like that 
Page 67 
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1 from federal court? 
2 A. I'm certain I did, Tonja. 1 don't have a 
3 specific recollection of getting the one pertaining to 
this. I don't even know if they sent it to me. I 
would imagine they'd send it back to Mr. Edwards. 
Q. The filing attorney? 
A. I suspect, unless the PACER system is 
registered on my name, then maybe it comes to me, but 
I am completely guessing. 
1 0 Q. But based upon the e-mail communications of 
11 July 22nd and the meeting occurring on July 23rd, this 
12 complaint was filed the day of this meeting; is that 
13 correct? 
1 4 A. Okay. But here is the problem with your 
15 question, I don't remember whether or not there 
16 actually was a meeting. I said there may have been, 
17 and] don't have an independent recollection of this 
18 being filed. 1 do not have an independent 
19 recollection of whether I told someone to file this. 
20 And for the life of me, this I am certain of, if 1 
1 told Mr. Edwards to file a complaint in federal court, 
2 if there wasn't a legitimate reason for him to do it, 
3 he wouldn't have done it. 
4 Q. Do you recall if this federal case was filed 
5 when you decided to use the case for your Ponzi scheme 
Page 68 
and show it to your investors? 
A. It may have been filed around that time, 
because I haven't been able to establish the exact 
4 time. It also certainly may have been utilized by me 
5 to further the Ponzi scheme. Also, I don't have an 
6 independent recollection of that either. Without 
7 seeing e-mail traffic, I can't tell you one way or the 
8 other exactly what was going on at that time. 
9 Q. Well, then I'll point you to another e-mail 
which is marked as EP 001. 
MR. EDWARDS: Let me see it. 
MS. HADDAD: I sent a copy to your office. 
MR. SCAROLA: He would like to see a copy 
now. Thank you. 
[The E-mail referred to was marked for 
identification as Defendant's Exhibit 2.] 
BY MS. HADDAD: 
Q. Were you able to find it, Scott? 
A. Got it. Yes, I have it. 
Q. You have it, okay. 
You said Cara Holmes used to be an FBI 
agent, correct? 
MR. SCAROLA: No. What he said is --
THE WITNESS: FBI or IRS. 
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BY MS. HADDAD: Q. Or IRS. We'll use the blanket term federal agent. is that a fair assessment? 	1 2 3 
A. Yes. 	4 
Q. Thank you. 	5 
Do you recall when you hired her to work for 	6 
you? 	7 
A. I do not. 	8 
Q. Was it in 2009? 	9 
A. I don't have a recollection one way or the 	10 
other. 	1 1 
Q. Okay. Have you ever seen this e-mail 	1 2 
before? 	13 
A. I saw it when I was reviewing your exhibits. 	14 
Before that I have no independent recollection of 	15 
having seen it. I'm not copied on it so ... 	1 6 
Q. Did you ever have any communications with 	1 7 
Ms. Holmes about people that were close to 	18 
Mr. Epstein? 	1 9 
A. I do not remember. 	20 
Q. You stated earlier that you knew that 	21 
Mr. Epstein was a wealthy man. Is that a fair 	22 
statement? You called him ""collectible,"" was that 	2.3 
because he had money? 	24 
MR. SCAROLA: He called him a billionaire 	25 
Page 70 
1 too. 
2 MS. HADDAD: Billionaire. 
3 THE WITNESS: l knew he was a billionaire. 
4 BY MS. HADDAD: 
5 Q. Do you have any independent recollection in 
6 the month of July 2009 of this case being intensified 
7 in any way such as going after those close to 
8 Mr. Epstein? 
9 A. I don't remember that one way or the other. 
10 Q. If you knew that Mr. Epstein was a 
1 1 billionaire, do you have any recollection of asking 
12 someone to investigate those close to Mr. Epstein to 
13 further your Ponzi scheme? 
14 A. I don't have an independent recollection of 
15 that one way or the other. 
16 Q. Do you recall if you ever directed the 
17 depositions to be taken of the people who were listed 
18 on the flight manifest that you saw? 
19 A. I don't recall one way or the other. I may 
20 have told the investors that I was going to take the 
2 1 depositions without ever intending to take them, but I 
22 don't recall one way or the other. 
23 Q. Are you familiar with a gentleman by the 
24 name of Mr. Rodriguez, Alfredo Rodriguez? 
25 A. No. 
Page 71 
Q. Never heard that name before? 
A. Alfredo Rodriguez? 
Q. Yes. 
A. It's not ringing any bells to me. 
Q. Do you remember hearing at your office with 
respect to Mr. Epstein's case that one of his former 
employees was willing to come forward with a big book 
of names? 
A. I don't remember that one way or the other. 
Q. You have no recollection of that. 
Do you recall anyone approaching to ask if 
the office can purchase this book? 
A. I don't recall that. 
Q. Do you recall instructing any of the 
attorneys in your office to get an opinion from 
Kendall Coffey whether or not they can legally and 
legitimately purchase this book? 
A. I don't recall that one way or the other. 
[The Complaint referred to was marked for 
identification as Defendant's Exhibit 3.1 
BY MS. HADDAD: 
Q. Okay. I'm going to direct your attention to 
what's now Bates stamped as EP 002, which I'm sure you 
haven't seen before since you just said you didn't 
know who he was, but I'll give you a minute to look 
Page 72 
over it. 
A. This is rather long. Do you want to direct 
me to a specific portion of it? 
Q. Sure. If you look at the Page Bates Stamp 
EP 004, Paragraph 5 and 6. 
A. Okay. I read number five. 
7 Q. Would you please read number six as well? 
A. Okay. 
Q. Does this refresh your memory as to whether 
10 or not anyone ever asked you in your office about 
11 purchasing a book? 
12 A. It does not. 
1 3 Q. Do you know that the cooperating witness was 
14 an attorney who worked for you at your firm? 
15 A. I did not know that until you just said it 
16 right now. 
1 7 Q. According to Paragraph Number 5, ""The 
18 deposition of this Mr. Rodriguez occurred on 
1 9 July 27th, 2009;"" is that correct? 
20 MR. SCAROLA: Is it correct that that's 
21 what it says? I'm going to object to the form of the 
22 question, it's vague and ambiguous. 
23 BY MS. HADDAD: 
2 4 Q. That's what's listed in the federal 
2 5 complaint, correct? 
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A. What does it say? Say it again. 
2 Q. It says, ""The first deposition occurred on 
3 July 27th,"" correct? 
4 A. Yes. 
5 Q. Some three days after the federal complaint 
6 was filed, correct, that we referenced earlier? 
7 A. That's correct. 
Q. And Paragraph 6 clearly delineates that in 
9 August 2009 a phone call was received by the 
1 0 cooperating witness that explained that this 
11 Mr. Rodriguez had a list of other purported victims or 
12 contact information for people who Mr. Edwards could 
1 3 also potentially bring lawsuits for-- on behalf of; 
14 is that correct? 
15 A. I don't know one way or the other. You 
1 6 know, Tonja, just so this record is clear, you know, 
17 as I'm sitting here, I have a vague recollection of 
1 8 perhaps Ken Jenne corning, talking to me and telling me 
1 9 that someone in my office was going to cooperate with 
2 0 someone in this investigation. But for the life of 
21 me. I can't be certain of that. So much time has 
22 passed, but as I'm reading this, and it could be 
23 completely unrelated to this, l just want to make sure 
2 4 the record is a hundred percent clear, it's possible 
25 that Ken Jenne discussed that with me, but] don't 
Page 74 
know who it was. 
2 Q. You are testifying that you didn't know it 
3 had anything to do with the Epstein case, as you sit 
4 here now, you don't remember? 
5 A.' No, no, I don't have a specific 
6 recollection. and I want to just make sure so I answer 
7 all your questions completely, is that as I'm sitting 
8 here my recollection was refreshed that] have a vague 
9 recollection of having a conversation with Ken Jenne 
10 about the fact that someone in our office was going to 
11 cooperate as a confidential informant for some law 
12 enforcement agency, I just can't remember if it was 
13 the Epstein case or not. 
14 Q. Do you recall what you said to Mr. Jenne 
15 about that? 
16 A. No. What I just related to you is all] 
17 remember. And I'm not even sure it had anything to do 
1 8 with this. 
19 Q. Who's Wayne Black? 
20 A. Who? 
21 Q. Wayne Black. 
22 A. Sounds like the name of someone I hired, but 
23 I could be mistaken. I don't recall. 
24 Q. Okay. You don't recall ever meeting 
25 Mr. Black? 
Page 75 
1 A. I may have. I don't recall one way or the 
other. You have something that might refresh my 
recollection? 
4 Q. Do you know what he does for a living? 
A. I do know the name. Sounds familiar to me, 
but l can't recall one way or the other who he was or 
7 what he did. 
Q. Did you instruct your office to begin 
investigating Mr. Epstein's pilot or his airplanes? 
10 A. I do not recall one way or the other. 
11 Q. You did testify that the flight manifest was 
12 the one document you recall for sure looking at in 
13 Mr. Epstein's case; is that correct? 
14 A. Yes. 
15 Q. And if it did, in fact, contain the names 
16 that you are purporting that it claimed or that you 
17 knew of, that would be something that would be juicy 
18 for the investors to further your Ponzi scheme that it 
19 was a collectible case; is that true? 
20 A. I'm sorry, you have to repeat the question, 
21 Tonja. I don't understand what you just asked me. 
22 Q. If these big names were on this list, as you 
23 seem to recall they were, that would be most helpful 
2 4 to you and your Ponzi scheme investors in convincing 
25 them it was a big case, right? 
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A. If they were on there, or if I lied to them 
and told them they were on there, or if Adler told me 
they were on there and I repeated, all 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. I testified 
that I flipped through other parts of the file and 
that I didn't remember what I had flipped through. I 
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. I do not recall. 
Q. Typically when you were meeting with your 
potential Ponzi investors, did you meet them during 
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work hours or after work hours? 
A. Both. 
Q. Did you always meet with them in your office 
or did you do it more socially down at Bova or 
elsewhere? 
A. Both. 
Q. But with this particular case, do you recall 
meeting them at least one time in your office where 
they could look through the files? 
A. Actually, that group of investors were 
looking at a lot of different cases or at least 
multiple different cases that we were attempting to 
lure them into the Ponzi scheme utilizing, so I met 
with them on multiple occasions, both in my office and 
at restaurants. 
Q. Who is Mike Fisten? 
A. Mike Fisten was a law enforcement officer of 
some type that I hired. 
Q. Why did you hire him? 
A. 
Q. 
He was a Ken Jenne suggestion. 
And were you hiring him to start up your 
company with Mr. Jenne, as you indicated earlier? 
A. I don't recall what the purpose of hiring 
him was. It had nothing to do with what Ken Jenne was 
doing for us. 
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Page 78 
Q. So what did he do at IkRA? 
A. My best recollection is that he had been a 
former ADT officer and so it would reason that he 
would be working in our alcohol beverage practice that 
we were establishing. 
Q. Do you know if he ever did any work for your 
firm as an investigator? 
A. He may have. I don't have a specific 
recollection one way or the other. 
Q. Did you ever speak to the press about the 
Epstein case? 
A. I don't have a recollection one way or the 
other. 
Q. Did you ever have Kip utilize the Epstein 
case to put any publicity or spin out there with 
respect to the case? 
A. I don't have a specific recollection of that 
one way or the other. 
Q. Did you ever instruct Brad or Russ to talk 
to the press about the case? We'll start with Brad 
then Russ. 
A. 1 do not specifically recall getting 
involved at the publicity level of that case. I don't 
have a recollection one way or the other. 
Q. 
Would that publicity have been good for your 
Page 79 I 
Ponzi scheme investors? 
A. Not really. 
Q. Would it have given more legitimacy to your 
allegation that it was a good case in which they 
should invest? 
A. In the way that I was selling the Ponzi 
settlements, it would have likely been overkill. 
Q. So did you ever instruct them not to speak 
to the press about the case? 
A. I don't recall that either one way or the 
other. 
Q. If it had gotten out there that the cases 
had not, in fact, settled, as you were claiming when 
you were selling the settlement, would that have 
hindered your case, your Ponzi investor's case? 
A. Not really because they would have no way of 
knowing if I had created a fake plaintiffs name. I 
mean, there could have been something in the news 
that -- and I don't know that there was -- there could 
have been something in the news that says none of this 
settled. And I just simply would have created a fake 
name with my co-conspirators, created a fake set of 
settlement documents and handle it that way. 
Q. Did you know where Mr. Epstein lived?• 
A. I only knew that he was from Palm Beach, 
Page 80 
other than that, no. 
Q. Okay. In 2009, did you ever have any firm 
meetings? 
A. Of any type? 
Q. Of any type, in general, firm meetings. 
A. I'm certain I did. 
7 Q. Do you recall about how many? 
A. I do not recall. 
Q. Did you ever have any partner meetings? 
10 A. Yes. 
11 Q. Do you recall how many? 
12 A. 1 do not. 
13 Q. Do you recall how many partners you had at 
14 the firm in 2009? 
15 A. I do not. 
1 6 Q. Do you recall how many fundraisers you had 
17 at your home in 2009? 
18 A. 1 do not. 
19 Q. More than 10? 
20 A. I'd be guessing, Tonja. 
21 Q. Okay. 
22 A. It's easy enough to check, there's state and 
23 federal records of all that stuff. 
24 Q. In 2009, did you still require the attorneys 
25 from your firm to attend the fundraisers you would 
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have? 
2 A. You said ""still require,"" which would have 
3 meant that I testified --
4 Q. Sony. 
5 A. -- previously that it was requiring them. 
6 Q. Did you require attorneys at your firm to 
7 attend your fundraisers? 
A. I asked them to, I urged them to, I tried to 
9 cajole them into coming, but it wasn't an absolute 
1 0 requirement. 
1 1 Q. Do you recall between April and July of 2009 
1 2 how many fundraisers you would have had? 
13 A. I do not. 
1 4 Q. Did you have fundraisers anywhere besides 
15 your home in 2009? 
1 6 A. I probably did, but I don't recall without 
1 7 seeing the documents. If you have the invitation or 
1 8 the e-mails, that would help me. 
1 9 Q. Did you hold fundraisers at your office in 
20 2009? 
2 1 A. I may have. That wouldn't have been 
2 2 unusual, but I don't have a specific recollection. 
2 3 Q. Did you ever meet any of the plaintiffs in 
2 4 the Epstein case? 
2 5 A. I don't have a specific recollection of 
Page 82 
1 that. 
2 Q. Do you recall ever revving copies of e-mails 
3 from Mr. Jenne with respect to the plaintiffs in the 
4 case that the subject matter would say ""information we 
5 need to use""? 
6 A. I don't recall that one way or the other. 
7 It's certainly possible. 
8 Q. Do you recall ever reviewing anything that 
9 was titled ""causes of action against Epstein""? 
10 A. l do not have a specific recollection of 
1 1 that one way or the other. 
12 Q. Do you recall ever reviewing with Mr. Jenne 
13 or any other investigator in your firm any information 
1 4 regarding Mr. Epstein's house staff or airplane staff? 
1 5 A. I do don't recall that one way or the other. 
1 6 I may have, J may not have. 
17 Q. Who is Bill Berger? 
18 A. A former Palm Beach judge that we hired. 
19 Q. Okay. What was his role at your firm? 
20 A. He was a shareholder. 
21 Q. What kind of practice? 
22 A. Litigating cases. 
23 Q. What kind of practice did he litigate? What 
24 kind of cases did he litigate? 
25 A. I don't recall specifically. 
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Q. When did you hire him? 
A. 2008 or 2009. I don't have a specific 
recollection. 
Q. If you hired lawyers who didn't have a book 
of business, what kind of practice did they do at your 
office? 
A. It depended upon the lawyer. I would have 
tried to get them to work with other lawyers in an 
area that they either were proficient in or wanted to 
become proficient in. 
Q. Okay. You had a meeting at your office 
during which you were asking about information 
regarding referring attorneys, attorneys who had 
referred business to the firm. Do you know what Pm 
talking about? I believe it was back in December of 
'08 or early 2009. 
A. The way you are characterizing that meeting, 
I had a lot of meetings like that. 
Q. What was the purpose of those? 
A. You are going to have to be more specific 
for me, Tonja. 
Q. Let's start generally then. What was -- you 
said you had many meetings like that. Tell me what 
these meetings were for? 
A. Making sure that we were maximizing 
Page 84 
generation of business into the law Ruin. 
Q. What kind of business, legitimate business 
or the other --
A. Legitimate business. 
Q. Sorry, I couldn't hear you. 
A. Legitimate business. The general meetings 
that you are discussing, that was legitimate business. 
Q. So there was a meeting for all attorneys to 
attend regarding generating business, those meetings 
10 were for the legitimate business? 
11 A. If it was addressed to all attorneys, yes. 
12 Q. Okay. And if an e-mail went out to all 
13 attorneys, did paralegals and support staff get it as 
14 well or was it just directed to the attorneys? 
15 A. Certain support staff probably were on that 
1 6 list, like my CFO and COO, and perhaps my IT people, 
1 7 but it was general for the attorneys. 
18 Q. With respect to your IT people, did you have 
19 the capability to review e-mails and interne activity 
20 of all of your employees? 
21 A. I did. 
22 Q. Including attorneys? 
23 A. I did. 
24 Q. Did you ever utilize that tool? 
25 A. Very infrequently. It was a pain because I 
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1 had to have Curtis Renie or Bill actually come into my 
2 office, set up a special icon to allow me to do that. 
3 It was a real pain. so it was rare. 
4 Q. Who else attended the meetings that you had 
5 with the Clockwork group with respect to the investors 
6 in the Epstein case? 
A. There were multiple meetings with what I'll 
8 call the Clockwork investors at various points in 
9 time. A variety of people came in and out of the 
1 0 meetings. Some of the meetings occurred down in Bova. 
1 1 Other people came up to the meetings. Some of the 
1 2 meetings involved Michael Szafranski, our fake 
1 3 independent verifier. Some of the meetings may have 
1 4 involved bankers and the like. I cannot tell you 
15 specifically who was at those meetings. 
1 6 Q. The specific meetings that we are talking 
1 7 about with -- where you left the boxes at your office, 
1 8 do you recall who else was there with you at that 
1 9 meeting? 
2 0 A. I only remember there being a handful of 
2 1 people from the investment group and myself. I don't 
2 2 recall -- and I remember the guys bringing the boxes 
2 3 the down, but they didn't stay for the meeting. There 
24 may have been other people there, I don't recall one 
25 way or the other who it was. 
Page 86 
1 Q. If the expenditures were being made on a 
2 case that were substantial, did you have to approve 
3 them or did you have a specific practice for them? 
4 A. The head of a practice group could basically 
5 approve them but Irene, our CFO, would generally run 
6 them by me before she actually cut the check. If] 
7 wasn't around she'd run it by Stu. 
8 Q. So as the equity partners you had the 
9 authority to make the determination what funds could 
1 0 and could not be expended? 
1 1 A. As the shareholders, as the two 50 percent 
12 shareholders, we controlled the finances. 
1 3 Q. And if Irene was coming to you to tell you 
14 what the funding was for, to get approval rather, 
1 5 would she tell you specifically what the funding was 
16 for or just tell you ""we need $100,000""? 
17 A. No, if it was a substantial expense --
1 8 Q. Tell me what you deem as substantial. 
1 9 A. That would have been -- substantial to me 
20 would have been based upon how much money we had in 
21 our coffers at the time. So, if it was one of those 
22 periods of time where we had 20 or $30 million 
23 floating around the law firm, Irene probably would 
2 4 have just written a check without even letting me know 
25 we were writing it. If it was one of those times 
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where we owed 20, $30 million in Ponzi payments out 
and she needed to write a check for even $5,000, she 
probably would have checked with me on that. So 
substantial and whether or not she would have checked 
with me depended upon the circumstance at the time. 
Q. You stated earlier, and I think get 
this quote right, that 2009 was a dismal year; is that 
correct? 
A. For the legitimate law finn business, it was 
a dismal year. 
Q. So in the months immediately preceding the 
dissolution of RRA, July to October of 2009, what 
would you consider a substantial expense that had to 
be approved? 
A. It would vary literally from day-to-day. 
Q. Do you have any independent recollection of 
how you were doing in, say, July 2009? 
A. The legitimate business was always doing 
poorly in 2009, as far as I was concerned. 
Q. So would you have --
A. The Ponzi scheme had its moments of 
significant wealth and significant poverty, so it 
varied from time to time. It was a daily thing. 
Sometimes it was hourly. It just depended upon what 
was coming in and what needed to go out. 
Page 88 
Q. So would you have to utilize the 
illegitimate funds to fund the legitimate cases at 
times? 
A. Yes. 
Q. And that varied daily you said? 
A. Well, all the money was commingled together, 
so we used whatever funds were in there to fund both 
the legitimate and the illegitimate financial 
requirements of the firm, the Ponzi scheme and other 
legitimate and illegitimate things that were going on. 
Q. If an outside agency or investigator was 
being utilized for a case and they needed a signed 
retainer agreement with your firm, would you have to 
approve that? 
A. It would depend upon the significance of the 
expense. I didn't necessarily get involved in every 
retention of every expert in every case. 
Q. Okay. So it would depend on the cost or the 
nature of the case? 
A. Who the lawyer was, their level of 
expertise, all things of that nature. 
Q. If it was this gentleman who you have no 
recollection of meeting, Mr. Black, and the attorney 
was Mr. Edwards, was that something you needed to look 
over? 
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1 A. Did Wayne Black work for Ron Cacciatore? 
2 Q. Are you asking me --
3 A. I'm asking anyone in the room who wants to 
4 talk to me. 
5 Q. I love to talk to you, but I don't know the 
6 answer to that question. He might have. Brad might 
7 be able to tell you. 
8 MR. EDWARDS: No. 
9 THE WITNESS: When you said Wayne Black's 
10 name again and that I hired him to do something,] 
11 seem to think that he may have been associated in 
12 some way with Mr. Cacciatore, but I'm not sure one 
13 way or the other. I don't remember whether or not] 
14 met Mr. Black, it's possible I did, it's also 
15 possible I did not. And] don't have an independent 
16 recollection of retaining him to do anything or 
17 whether] was part and parcel of the decision if we 
18 did, in fact, retain him, whether] was part and 
19 parcel of the decision to retain him. 
20 BY MS. HADDAD: 
21 Q. Traveling out of state for depositions for 
22 the particular cases, did you have to approve that? 
23 A. It would depend upon who the lawyers were, 
29 tilt significance of the expense. It would have been 
25 case by case. l certainly would not have been 
Page 90 
1 approving or disapproving Mr. Nurik's travel, 
2 Mr. Rosenfeldt's travel, Mr. Boden's travel, 
3 Mr. Lippman's travel. That was their own thing. 
4 If a younger lawyer like a Shawn Birken came 
5 to-me and said he need to travel out of state for 
6 something, if it was just for a deposition, I wouldn't 
7 have gotten involved in that unless he was telling my 
8 CFO, Ms. Stay, that he wanted to fly first class and 
9 stay in the Ritz Carlton, then I would have gotten 
10 involved. But other than that, no. The firm was too 
11 big for me to vet involved on a daily basis with all 
12 that stuff. 
13 Q. If Brad had to go out of state to take a 
14 deposition, you wouldn't be the person to approve or 
15 disapprove that? 
16 A. Russ Adler would have handled that. And if 
17 there was an issue, Russ would have come to me. And 
18 don't know what the relationship was specifically 
19 between Brad and Russ, but its certainly possible 
20 that Brad just was going to go do what he needed to do 
21 to properly handle the case and I would have trusted 
22 him to do that. 
23 MS. HADDAD: Can we just take a second. We 
24 are going to take a minute, okay? 
25 THE WITNESS: Sure. 
Page 91 
1 [Short recess taken.] 
2 FURTHER DIRECT EXAMINATION 
BY MR. GOLDBERGER: 
Q. All right. Mr. Rothstein, Jack Goldberger, 
I'm going to ask you some questions now. You 
testified that you knew Jeffrey Epstein was a 
7 billionaire. You did testify to that today, correct? 
8 A. Yes. 
9 Q. Okay. Tell me how you knew that. How did 
10 you know that Mr. Epstein was a billionaire? 
11 A. Russ Adler told me. I looked him up on the 
12 internet. 
13 Q. What did you look on the internet about 
14 Mr. Epstein? 
15 A. I don't recall, but I remember looking up an 
16 seeing that he was very wealthy, that he was a 
17 billionaire. 
18 Q. Okay. So as far as learning that 
19 Mr. Epstein was a billionaire, you learned via two 
2 0 ways, one was from Russ Adler, correct? Is that 
21 correct? 
22 A. Yes, sir. 
2 3 Q. And the other was through looking up 
2 4 Mr. Epstein on the internet, correct? 
25 A. Yes. 
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Page 92 
Q. Okay. And you don't know what you reviewed 
on the internet in an effort to determine that 
Mr. Epstein was a billionaire; is that correct? 
A. I do not recall. 
Q. Do you know when you did that? 
A. I do not. 
Q. Was it prior to your needing to use the 
Epstein case to further your Ponzi scheme? 
A. Yes. 
Q. Okay. So prior to -- I think you indicated 
that you needed an influx of money at some point and 
that's when you decided to use the Epstein case in 
furtherance of the Ponzi scheme; is that correct? 
A. Yes. 
Q. So prior to that time though, prior to 
determining that you needed to use the Epstein case 
for the Ponzi scheme, you looked up Mr. Epstein and 
you spoke to Mr. Adler about his work; is that 
correct? 
A. Yes. 
Q. Why did you do that, Mr. Rothstein, if you 
weren't using the Epstein case at that point in your 
Ponzi scheme? 
A. Because it was a legitimate case in the 
legitimate portion of RRA that] had reason to believe 
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1 from speaking to Mr. Adler could bring in a 
2 significant amount of money to the firm. 
3 Q. At that time Mr. Adler was one of your 
4 co-conspirators in the Ponzi scheme; is that con-ect? 
5 A. By this time, yes, sir. 
6 Q. Okay. When did Mr. Adler become a 
7 co-conspirator in your Ponzi scheme? 
8 A. I don't recall the specific date. 
9 Q. Was it before or after Mr. Adler recommended 
1 0 that Brad Edwards be hired at your firm? 
1 1 A. Before. 
1 2 Q. So before Brad Edwards was hired at RRA, 
1 3 Russell Adler was a co-conspirator of yours in the 
1 4 illegal part of the RRA firm; is that correct? 
15 A. Yes. 
1 6 Q. Then after that time you hired --
1 7 Mr. Edwards was hired after Adler was your 
1 8 co-conspirator? You are laughing, you are smiling, 
1 9 why is that, sir? 
2 0 A. Because when you say ""RRA"" that way, the 
2 1 speaker sounds, it sounds like you are roaring. 
2 2 Q. Okay. I'll just say Rothstein, how about 
2 3 that? You know what I'm talking about if I just say 
24 Rtthstein. 
25 A. RBA is fine. 
Page 
• 1 Q. What did Adler tell you about the Epstein 
2 case that Edwards had at the time you were 
3 contemplating hiring him to become a member of the 
4 Rothstein firm? 
A. He told me that it was a huge case involving 
7 6 a billionaire pedophile and that it was a winner. 
i 7 Q. Did you, when you heard that, did you think 
8 that that was a case that could become part of your 
9 Ponzi scheme? 
P 10 
1 A. No, I actually thought of it as a way to 
11 earn legitimate money to help me out of the Ponzi 
12 scheme. 
1 3 Q. So at the time you hired Mr. Edwards and you 
1 4 were talking to Adler about Edwards, you were trying 
15 to get out from under the Ponzi scheme? 
1 6 A. In the bulk of 2009 I was praying for some 
17 sort of legitimate influx of money to get out of the 
1 8 Ponzi scheme. 
1 9 Q. Okay. So now Adler tells you about this 
20 Brad Edwards guy, did you know Brad Edwards before 
2 1 Adler talked to you about him? Had you run into him? 
B 22 A. I may have. I don't have a specific 
23 recollection one way or the other. 
2 4 Q. Okay. So now he-tells you that you should 
25 consider hiring Brad Edwards, this is your 
1 Q. Okay. So Adler is your co-conspirator in 
2 the Ponzi scheme at the time that Brad Edwards is 
3 hired, correct? 
4 A. Yes. 
5 - Q. Okay. Was it Adler who recommended to you 5 
6 that Brad Edwards be hired? 
A. Yes. He was one of the people. 
8 Q. Who else recommended that Edwards be hired? 
9 A. I don't have a specific recollection of who 
10 it was, but others did. 1C 
1 1 Q. All right. But you have a recollection of 1 1 
12 Adler being one of the people, so let's talk about 1 2 
13 that, all right? 13 
1 4 What did Adler tell you about Brad Edwards 1 4 
15 when you hired him? Did he tell you that he had these 15 
16 Epstein cases or an Epstein case in the fold? 1 6 
17 A. Among other things, yes. 17 
18 Q. What else did he tell you? 18 
19 A. Told me he was a great lawyer and a great 19 
20 guy. 20 
21 Q. Did he tell you what his history was, what 2 1 
22 Edwards' history was prior to coming to the Rothstein 22 
23 firm? 23 
24 A. I'm certain that I asked him, but I don't 24 
25 have a specific recollection of that conversation. 25 
Page 95 
4 
Page 96 
co-conspirator talking to you, right? Is that 
correct? 
A. Yes. 
Q. And he says, by the way, he's got this great 
Epstein case involving this billionaire, correct? 
A. Yes. 
Q. Presumably then-you had a meeting with Brad 
Edwards when you met him; is that correct? 
MR. SCAROLA: Presumably he had a meeting 
when he met him? 
MR. GOLDBERGER: I'm sorry, Mr. Scarola was 
cutting you off when you answered, so go ahead, answer 
again. 
MR. SCAROLA: I didn't understand the 
question. 
BY MR. GOLDBERGER: 
Q. Do you understand the question, 
Mr. Rothstein? 
A. I'm not sure I do because you asked me if] 
had a meeting when I met him and] think that meeting 
him is a meeting. 
Q. Well, there was a meeting, correct? 
A. I most likely met him before I hired him. I 
most likely talked to him before I hired him because 
that was my general way of doing business. It's all 
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1 together possible that I gave Russ the okay to hire 
2 him before, I just don't have a specific recollection 
3 one way or the other. 
4 Q. At some point,Itake it, you learned, 
5 whether you sat in on a meeting when Mr. Edwards was 
6 hired or whether your co-conspirator hired him, at 
7 some point you learned that Mr. Edwards, in fact, had 
8 been hired by the firm; is that correct? 
9 A. I'm certain that I gave the final okay to 
10 hire him. 
11 Q. Okay. When you were giving the final okay 
12 to hire him, I assume there had to be discussion of 
13 the money that he was going to be paid, correct? 
14 A. With somebody, yes. 
15 Q. Certainly with Mr. Edwards, right? I assume 
16 he wanted to know how much he was getting paid. 
A. Yes, but don't have a specific 
18 recollection of whether l discussed that with him or 
19 whetherl authorized Adler or maybe even Rosenfeldt to 
20 discuss it with him. 1 don't recall. 
21 Q. Do you have the slightest idea how much 
22 money Mr. Edwards was paid when he first joined the 
23 firm, what his salary was? 
24 A. 1 don't have an independent recollection. 
25 -- Q. Generally someone like Mr. Edwards at his 
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level of accomplishment and his age, you know what the 
general salary would have been at your firm? 
A. It didn't work that way. 
Q. I see. Tell me how it worked. 
A. It's a case-by-case basis. 
Q. Tell me how it worked. 
A. Case-by-case basis. 
Q. And how did you make that determination on a 
case-by-case basis? 
A. Actual book of business, potential book of 
business, potentiality for growth, character, what he 
brought to the table, and obviously a function of how 
much money we had available at the time. 
Q. Okay. And you don't have any recollection 
of the machinations that occurred in determining what 
Mr. Edwards salary would be, correct? 
A. I do not. 
Q. But certainly one of the things you would 
consider would be the book of business, i.e. the 
Epstein case, right? 
A. I'm certain thatl did consider the Epstein 
case. 
Q. Do you know whether he brought any other 
book of business --
A. But I'm also certain it wasn't the only 
Page 99 
1 factorl considered. 
Q. All right. Do you know whether he brought, 
in his book of business, do you know whether be 
brought any other cases to the firm other than the 
Epstein case? 
A. 1 don't recall one way or the other. 
Q. Okay. Do you know whether your -- well, bad 
question, I won't ask that. 
Now, you've talked a lot about Ken Jenne 
110 here this morning. Was Ken Jenne part of your Ponzi 
11 scheme? 
12 A. No. sir. 
13 Q. Had nothing to do with it, right? 
14 A. That's correct. 
15 Q. Other than his having -- working for you as 
16 an investigator, he was not one of your 
17 co-conspirators, right? 
18 A. He didn't work for me as an investigator, he 
19 worked for me heading up our investigative division, 
20 heading up our internal security, heading up my 
21 personal security, and acting as a political advisor 
22 tome. 
23 Q. Okay. Did he serve any kind of 
24 investigative function at all, after all, he was a law 
25 enforcement officer at one point in his career? 
Page 100 
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A. I note that he assisted the other people at 
the firm that were doing the investigative work. 1 
don't know if he personally did investigative work. 
He may have. 
Q. Do you know whether Mr. Jenne, in his role 
as your advisor or your political consultant, do you 
know if he was involved in any kind of illegality, 
illegal wire tapping or anything like that while he 
was at Rothstein? 
MR. SCAROLA: Excuse me, I'm going to 
object to the form of the question, vague and 
ambiguous. 
THE WITNESS: To my knowledge he was not. 
BY MR. GOLDBERGER: 
Q. To your knowledge, no? 
A. Correct. 
Q. Okay. You talked about having a bunch of 
fundraisers, I know you had a bunch of fundraisers 
that was kind of a deal at Rothstein. This was kind 
of a rock star law firm, right? I mean, you had lots 
of fundraisers, lots of parties, right? Was that the 
image you were trying to present? 
A. In reality that's the way we were. 
Q. Okay. 
A. A lot of young lawyers having a good time, 
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1 trying to make money. 
2 Q. And these young lawyers. would you consider 
3 Mr. Edwards to be a young lawyer or a middle-aged 
9 lawyer? 
5 A. Young lawyer. 
6 Q. Okay. Was he one of young lawyers that came 
7 to these fundraisers at your home? 
8 A. I don't recall whether he was there or not. 
9 I recall him being at some, but I didn't know if he 
1 0 was at all of them. 
1 1 Q. Okay. You do recall him coming to some of 
1 2 the fundraisers, though, correct? 
1 3 A. I recall him being at my home. It may have 
14 been for firm parties or other parties, it may have 
1 5 been for fundraisers there. 
1 6 Q. And that was during the time period that the 
17 Ponzi scheme was still going on. correct? 
18 A. Yes. 
1 9 Q. Did Adler ever the tell you about any 
2 0 discussions he had with Brad Edwards about the illegal 
2 1 part of the operations at Rothstein? 
22 A. Can you reask the question, please? 
23 Q. Sure. Sure. 
24 Did Russell Adler ever tell you -- Russell 
25 Adler is your co-conspirator, we've established that. 
Page 102 
1 Did Russell Adler in the furtherance of your 
2 conspiracy ever tell you he had discussed with Brad 
3 Edwards about the illegal activities at RRA? 
4 A. No. 
5 Q. Now,..you testified when asked about whether 
6 the press -- if.you were involved in asking the press 
7 to run with the E stein sto ou said something to 
8 the effect, ""the wa I was selling the Ponzi scheme it 
9 would be overkill."" 
10 I didn't understand your answer like you 
11 didn't understand some of my questions, so I'd like 
12 you to kind of tell me what you  meant by that. 
13 A. I was selling purportedly confidential 
14 settlements. Confidentiality was the hallmark of the 
15 Ponzi scheme, so too much publicity would have created 
1 6 a roblem for me in the sale of what was supposed to 
17 las smIeteIconfidentialseft1ement. 
18 Q. I think what you are telling me, and I don't 
19 want to misstate what I think you are telling me, but 
20 is it true that you felt some publicity would be okay 
21 but too much would be counter to the purposes of the 
22 conspiracy. Is that a fair statement? 
23 A. The way I was thinking about it at the time 
24 this was going on was that some_publicity would assist 
25 kis_sl.aLzilisl th_aLth5Le 
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was a real case goirjg on, but that within that 1 woad 
have to create some sort of fictions in ordeno_aelL 
the fakeyroduct.  
Q. Okay. At the time that you decided to use 
the Epstein case as part of your illicit Ponzi scheme 
theme,Ithink you testified earlier today, when you 
were in some dire straights, you needed an influx of 
money, right? 
A. Yes. 
Q. That's when you decided to use the Epstein 
matters, correct? 
A. Yes. 
Q. Okay. And you knew, I assume, being the 
Ponzi scheme mastermind here, that you needed to make 
sure that you had at least a working knowledge of the 
Epstein case so that you could answer questions to the 
investors. I recognize that you left the room and 
told them to look at it, but you had to some knowledge 
of the case, right? 
MR. SCAROLA: Counsel, that's a 
misrepresentation of what the earlier testimony was. 
object, no proper predicate. 
MR. GOLDBERGER: Okay, let's go through the 
whole thing again. 
MR. SCAROLA: No, you are not going to go 
Page 109 
through the whole thing again. Just because we have 
tolerated two lawyers asking questions, does not mean 
3 we are going to tolerate two lawyers asking the same 
questions. 
MR. GOLDBERGER: Your objection is noted. 
BY MR. GOLDBERGER: 
Q. Okay. So let's talk about your need to use 
the Epstein case to further your conspiracy. You 
needed an influx of money, did you not? 
A. Yes. 
Q. Okay. You decided to use the Epstein case 
for that purpose, right? 
A. Yes. 
Q. And in order to use the Epstein case, you 
were going to meet with the investors and pitch the 
Epstein case with the investors, correct? 
A. Yes. 
Q. And in an effort to pitch the case to the 
investors, you had to have some knowledge of the case, 
did you not? 
A. Some level of knowledge, yes, sir. 
Q. Okay. And in order to gain that knowledge, 
you spoke to your co-conspirator, Russell Adler; is 
that correct? 
A. That's one of the things I did. 
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Q. Okay. And do you remember what Adler told 
2 you specifically about the Epstein case that helped 
3 you have a basis of information to sell it to the 
4 investors? 
5 A. Other than him telling me that it was a 
6 billionaire pedophile, other than him telling me about 
7 the flight manifest, don't have a specific 
8 recollection of what else he told me. 
9 Q. Did you actually look at the flight manifest 
1 0 at sometime, Mr. Rothstein? 
1 1 A. Yes, sir. 
12 Q. And what was it about those flight manifests 
1 3 that you felt would help you pitch the Epstein case to 
1 4 the investor? 
1 5 A. I don't remember who specifically was on it, 
16 but Iremember it looking juicy. 
17 Q. You don't know who was on it? 
1 8 A. 1 don't recall. 
1 9 Q. Did you add any names to that manifest at 
2 0 any time? 
2 1 A. I had -- you mean physically write names on 
22 there? 
23 Q. Any way you want to interpret -- did you --
29 not physically write any names on the manifest, but 
25 did you tell the investors that there were names on 
Page 106 
the manifest that were actually not on the manifest? 
2 A. I told the investors that there were other 
3 people that appeared on manifests,] don't recall 
4 whether it was that manifest or other manifests, and 1 
5 got the names of those people from Russ Adler. 
6 Whether or not they actually appeared on the manifest 
7 or another manifest, 1 do not know. 
8 Q. What names did you get from Russ Adler? 
9 A. 11.....21.1ALligyjastme_tita1.B i I ew on 
1 0 eildndeen 10 
11 Mr.  Enstein's_plaa. 11 
12 Q. And is it your testimony today that you 12 
13 never looked at the manifest to see whether Bill 13 
14 Clinton or Prince Andrew's name were really on the 14 
15 manifest that you were going to use to pitch the 15 
16 investors? 16 
17 A. It was my understanding they didn't have all 17 
18 the manifests. 18 
19 Q. Okay. Did you ever ask for the manifests 19 
20 that purportedly had the name of Bill Clinton or 20 
21 Prince Andrew on it? 21 
22 A. 1 probably did, but I don't have a specific 22 
23 recollection one way or the other. 1 23 
24 Q. When you say you didn't have all the 24 
25 manifests, were all the manifests in your office -- 25 
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were all the manifests within the law firm of RRA and 
you simply didn't have them in your office? 
A. I have no idea one way or the other. 
Q. Okay. 
A. I did not have them. 
Q. You were told by Russell Adler that you 
didn't have -- that you physically didn't have all the 
manifests, correct? 
A. That's correct. 
Q. But you don't know whether they were in the 
building somewhere, these other supposed manifests? 
A. I have no idea one way or the other. 
Q. You never asked for proof that Bill Clinton 
or Prince Andrew's name were on a manifest somewhere? 
A. I didn't say that. I may very well have 
asked Adler or Ken Jenne to find the other manifests. 
Q. Were you ever shown a manifest with the name 
Bill Clinton or the name Prince Andrew on them? 
A. I do not recall one way or the other whether 
I saw that or not. I remember Adler telling me about 
it and then me repeating that information to the 
investors based upon Mr. Adler's representations to 
me. 
Q. Now, you testified that you were told that 
the Epstein cases were ""legitimate cases. Do you 
Page 108 
remember that testimony you gave this morning? 
A. Yes. 
Q. And you remember your testimony that you 
were told they were legitimate cases by both Russ 
Adler and Brad Edwards, do you remember that? 
A. I never said that Mr. Edwards or Mr. Adler 
said, ""Scott, these are legitimate cases."" I didn't 
question them as to their legitimacy. 
Q. You did testify that you talked to Brad 
Edwards about the Epstein cases; is that correct? 
MR. SCAROLA: No, counsel, that is a 
misrepresentation of the earlier testimony. 
MR. GOLDBERGER: No, it's not. 
BY MR. GOLDBERGER: 
Q.  Did you talk to Brad Edwards about the 
Epstein cases? 
A. I do not recall one way or the other.  That  
- 
was my prior testimony, that's still in testimon 
-don't -- I do not recall. 
Q. We'll let the record speak --
A. l know I spoke to Adler about it. 
Q. We'll let the record speak for itself. Your 
testimony, as I am questioning you now, is that you do 
not recall whether you spoke to Brad Edwards about the 
Epstein cases; is that correct? 
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1 A. If you are including within that me walking 
2 past Brad in the hall and saying, ""Hey. Brad how are 
3 you? How is the Epstein stuff going?"" Then its very 
4 likely that I talked to him about it in that manner. 
5 But lhave no specific recollection one way or the 
6 other as to having any lengthy conversations with 
Mr. Edwards about the case. 
8 I had a co-conspirator who was deeply 
9 involved in the Ponzi scheme that I could go to to get 
10 any information I wanted, NIL Adler. I didn't need to 
11 go to Mr. Edwards. 
12 Q. So if you had a question of your 
13 co-conspirator, Russell Adler, about the Epstein case, 
14 you would go ask Adler and would Adler always have the 
15 answer for you or would he say he would get you the 
16 answer? 
17 A. Both. 
18 Q. When he didn't have the answer, do you know 
19 who he was getting the answer from? 
20 MR. SCAROLA: Objection, predicate. 
21 THE WITNESS: I don't know who he was 
22 getting it from and I may have contacted other people 
23 in the office who were working on the file to ask. I 
24 may have asked Mr. Jenne,Imay have asked Ms. 
25 Holmes, I many have asked a whole myriad of people. 
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1 BY MR. GOLDBERGER: 
2 Q. So Ms. Holmes was working on the Epstein 
3 cases? 
4 A. It's my refreshed recollection from seeing 4 
5 one of those e-mails that she must have been. 5 
6 Q. Okay. And Ms. Holmes you said was a former 
7 federal law enforcement officer, was that your 
8 testimony? 
9 A. Yes. 
10 Q. You don't know whether she was FBI or IRS, 10 
11 correct? 11 
12 A. I don't remember. 12 
13 Q. Okay. And upon reflection, do you know 13 
14 whether she was hired without your say-so based on 14 
15 what Mr. Jenne told you or did you meet with her? 15 
16 A. No, I actually -- I remember meeting with 16 
17 Ms. Holmes. 17 
18 Q. Okay. What do you remember about that 18 
19 meeting? 19 
20 A. I remember talking about her relative who 20 
21 was a judge. I remember her telling me about her time 21 
22 in law enforcement. I just don't remember which 22 
23 agency. 23 
24 Q. Did she tell you why she left law 24 
25 enforcement? 25 
Page 111 
A. She may have, I don't recall one way or the 
other. 
Q. Did you ever ask Ms. Holmes to use any of 
her prior contacts in law enforcement to assist you in 
the Ponzi scheme to get information for you? 
A. The question is kind of convoluted because 
the way you are asking it, it seems like you are 
intimating that Ms. Holmes knew. I may have asked 
Ms. Holmes to get me information that I was going to 
utilize with my co-conspirators in the Ponzi scheme, 
but Ms. Holmes did not know that there was a Ponzi 
scheme going on. 
Q. All right. So you may have asked Ms. Holmes 
to try and get some information for you from her 
contacts in law enforcement, but it's your testimony, 
and I don't dispute it, it's your testimony that she 
knew nothing about the Ponzi scheme, correct? 
A. I may have, I may not have. I do not 
remember and she absolutely knew nothing about the 
Ponzi scheme. 
Q. Okay. Now, we talked about Brad Edwards 
getting paid and the multilevel ways in which you 
determined what a person's salary was. Do you know 
whether Brad Edwards got any bonuses along the way 
once the Epstein case was used as part of the Ponzi 
Page 112 
scheme? 
A. He did not. 
Q. So he was --
A. If he got a bonus, it was something he 
earned. 
Q. Did you make a determination as to what that 
bonus would be? 
A. If he got a bonus, I would have been 
instrumental in determining it. You can determine if 
he got a bonus by looking at our financial records,1 
don't have an independent recollection one way or the 
other. 
Q. So you don't know whether he got a bonus at 
all, correct? 
A. That's correct. 
Q. So1 assume that if he got a bonus you 
wouldn't know whether it occurred before or after the 
Epstein case was used as part of the Ponzi scheme? 
A. I don't know if he got a bonus, which means 
I wouldn't know the time frame. 
Q. But we would learn -- you are instructing 
us, we would learn that by looking at when the Epstein 
case was brought into the Ponzi scheme and we learn 
that by looking at these -- what was the group that it 
was used to pitch to? 
Page 113 
29 (Pages 110 to 1 1 3 ) 
FRIEDMAN, LOMBARDI & OLSON 
305-371-6677 
5ed93085-0554-447f-bcdd-ca2d8fe941 df 
1 A. Clockwork. 1. 
2 Q. So we would look at when the Clockwork group 2 
3 was brought into this and the Epstein case was used 3 
then and then we would look at the payroll records to 
5 see whether Mr. Edwards got a bonus after the 5 
6 Clockwork group was brought into the Ponzi scheme. 6 
correct? 7 
8 A. From a timing perspective, yes. But 
9 Mr. Edwards had nothing to do with the Ponzi scheme, 
10 nor was he rewlr_d_e_daltinik_without his 10 
11 _knowledge for helnip me with the Ponzi scheme. If he 11 
12 .1yas rewarded it was because he deserved,] felt he 12 
1 3 deserved a reward, havin nothing to do with the Ponzi 13 
19 scheme. The bulk of this law firm had nothing to do 14 
15 with the Ponzi scheme. 15 
16 Q. I think you testified already, though, that 16 
17 money was fundable in the firm, right? I mean, you 17 
18 know, illegal money was used for legitimate purposes, 18 
19 correct? r19 
20 A. Yes. 20 
21 Q. Okay. So, for example, investigations that 21 
22 were done with the Epstein case, it's very possible 22 
23 that legitimate Ponzi money was used to finance those 23 
24 investigations? 24 
25 A. I'd be guessing. It's certainly possible 25 
Page 114 
1 because all the money went into a whole series of 
2 pots, and if you look at, most of the pots were trust 
3 accounts. If you look back, you look to see what my 
4 CFO, who was also a co-conspirator was doing, she was 
5 pulling the money from wherever she needed to to fund 
6 whatever she needed to fund. 
MR. LAVECCHIO: Off the record a second. 
8 [Discussion off the record.] 
9 BY MR. GOLDBERGER: 
10 Q. Let me circle back to what you needed to 
11 learn about the Epstein cases to help make your pitch 
12 to the investors. 
13 You talked about the manifest already, 
1 4 correct, the flight manifest? 
15 A. Yes. 
16 Q. Okay. What else did you want to learn about 
17 the case or what else did you learn about the case so 
18 that you were conversant when you spoke to the 
19 investors about the Epstein case? 
20 A. 1 recall asking someone what the causes of 
21 action were. 
22 Q. Okay. Did you understand what they were? 
23 A. I likely did at the time, I don't remember 
24 what they were now. 
25 Q. Okay. Do you know which case we are talking 
Page 115 
7 
10 
11 
12 
13 
14 
15 
;416 
117 
18 
19 
20 
21 
22 
23 
29 
25 
about? By the way, you had a number of Epstein cases 
in-house, do you know which case you were talking 
about? 
A. As I sit here today, no, sir, I don't 
remember. 
Q. Was it a state case or a federal case? 
A. I don't remember one way or the other. 
Q. All right. 
A. I utilized all those boxes all together. 1 
don't remember which  one I sold them. 
Q. And the exhibits --
A. It's something completely fictitious that  
Q. The exhibit that you were shown earlier, 
Exhibit Number 1, that's the long multi-page federal 
lawsuit. Do you know whether that was part of the 
information that you reviewed or shown to the 
investors when you were pitching to them? 
A. I do not remember one way or the other. 
Q. Okay. Now, did you make any effort to learn 
from your co-conspirator who the plaintiffs were in 
this case, what kind of women they were? 
A. Only that they were underage. 
Q. Did an one tell you that these women had --
some of these women had a history of prostitution? 
Page 116 
A. They may have told me that, I wouldn't have 
cared one way or the other, 
Q. Why would you not have cared about that, 
Mr. Rothstein? 
A. It had nothin to do with the sale of the 
Ponzi scheme settlements,. 
Q. Okay. Were you told by anyone whether any 
of the women involved as plaintiffs in the case may 
have worked at adult clubs in the past? I mean strip 
clubs, let's call it what it is. 
A. I may have been told that one way or the 
other. But againziLhadpothing to do with the Ponzi 
scheme sale of fake settlements. 
_ 
Q. As part of the information that you were 
told by you co-conspirator, Russell Adler, were you 
told that some of the plaintiffs that you had in-house 
had travelled on Mr. Epstein's airplane? 
A. I believe Russ did tell me that. 
Q. You know, in fact, that that was not true, 
correct? 
A. lhave no idea one way or the other, nor did 
I care. 
Q. But your co-conspirator told you that, 
right? 
A. Mr. Adler did, in fact, tell me that certain_ 
Page 113 
30 (Pages 119 to 117) 
FRIEDMAN, LOMBARDI & OLSON 
305-371-6677 
5ed93085-0554-447f-bedd-ca2d8fe941df 
1 of the underage women had travelled on Mr. Epstein's 
2 .2.1_2a; 
3 Q. Did you ever meet any of the plaintiffs? 
4 MR. SCAROLA: That's question that's been 
5 asked and answered. 
6 THE WITNESS: I do not have a specific 
7 recollection of ever meeting them. 
8 MR. SCAROLA: You are exhausting my 
9 indulgence. 
10 MR. GOLDBERGER: Fair enough. 
1 1 MR. SCAROLA: You've exhausted my 
12 indulgence. 
13 BY MR. GOLDBERGER: 
19 Q. Do you know whether any of your 
15 investigators at the firm had any kind of high tech 
16 surveillance equipment or, you know, wire tapping 
17 equipment? 
18 A. I believe they did. 
19 Q. Do you know whether this was legal stuff or 
20 illegal staff? 
2 1 A. I did not know, nor did I care. 
22 Q. Do you know if any of that stuff was used to 
23 either wire tap or surveil Mr. Epstein? 
24 A. I do not know one way or the other. 
25 Q. What sort of equipment did you know that 
Page 118 
they had, meaning your investigators? 
2 A. I had told Mr. Jenne and others involved in 
3 the investigation arm of RRA to get whatever equipment 
4 they thought they needed and to get the best stuff 
5 that they could get. What they actually did, I can't 
6 tell you. 
7 Q. You know as part of the Epstein litigation, 
8 and I'm talking about now after your using it in the 
9 Ponzi scheme, do you know whether anyone at your firm 
10 attempted to depose ex-President Bill Clinton? 
11 A. I don't recall that, sir. 
12 Q. Okay. How about Donald Trump, same 
13 question? 
14 A. I don't recall that. As a matter of fact, 
15 we had represented Trump in some things, we had some 
16 pretty close ties with him, so I can't imagine that 
17 they would have done that with my authority. 
18 Q. Okay. 
19 A. I don't recall that. 
20 Q. Do you know whether Adler would have --
21 would Adler have the authorize to do that without 
22 getting your permission? 
23 A. The authority, no. Might he have tried, 
24 yes. 
25 Q. Okay. How about Alan Dershowitz, do you 
Page 119 
2 
3 
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11 
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13 
14 
15 
16 
17 
18 
19 
20 
21 
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23 
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25 
3 
4 
5 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
have any knowledge of your firm's attempt during the 
Ponzi scheme to depose Alan Dershowitz? 
A. No. sir. I don't have a recollection of one 
way or the other. 
Q. Okay. The name Kendal] Coffey was brought 
up before. Do you know who Kendall Coffey is? 
A. Yes. 
Q. Who do you know him to be? 
A. Former U.S. attorney, current criminal 
defense lawyer. 
Q. Was he a friendship of the firm's? 
A. Represented RRA when I fled the country. 
Q. So he was a friend of the firm, or a friend 
of yours at least, right? 
A. He wasn't a friend of mine. 
Q. A friend of the firm? 
A. No idea. 
Q. He represented them when I fled the country. 
I remember him coming in and doing like a show and 
tell in my office on TV. 
MR. GOLDBERGER: Patience gets rewarded. 
I'm done. 
Thank you, Mr. Rothstein. That's all the 
questions that] have. 
THE WITNESS: You are welcome. 
Page 120 
CROSS EXAMINATION 
BY MR. SCAROLA: 
Q. Mr. Rothstein, again, Jack Scarola on behalf 
of Brad Edwards.. I want you to assume that Brad has 
testified under oath that you never had a substantive  
discussion with him re arding the Epstein case. Do 
Lop have any basis whatsoever to question the accuracy 
,of that tQliimax? 
A. I do not. 
Q. I .wz2Ly.a_i to asst21115_±.M Brad has or will 
fy un der oath that while ou were c22piagp 
e-mails, you never attended a singtelelLtimate 
ii.Lear_ditmtbs legitimate 
Epstein cases. Do   have any basis whatsoever to 
question the accuracy of that testimony? 
A. No, sir„ 
Q. I want you to assume that Brad has or will 
testify under oath that you never directed t _e  
of any documents in the Epstein case, includin the 
July federal complaint that's been marked as an 
exhibit to your deposition._122...a.s2p 
whatsoever to uestion the accurac of that testimon ? 
A. No, sir. 
Q. I wantyou to assume that Brad has or will  
testify under oath thatyou never directed the taking. 
Page 121 
31 (Pages 118 to 121) 
FRIEDMAN, LOMBARDI & OLSON 
305-371-6677 
5ed93085-0554-447f-bcdd-ca2d8fe941df 
1 of a sin le de osition. or the TO oundin_a2fEty 
2 disc_oystle_lpstein cases. Do_you have any 
3 reason to doubt the accuracy of that testimonV 
4 A. No, sir. 
5 Q. 12naliaLlaaLs_a-asti2Lt has or will 
6 testify that you did not provide any input whatsoever 
7 into tbs..12oltlifjs..gjlipstein cases. Do  
8 you have an reason whatsoever to doubt the accurac,y 
9 of thatiLilaopy.? 
10 A. No sir. 
11 Q. I want you to assume that Brad has or will 
1 2 Iss_tifylatay_g_u_mysualln_y of the legitimate 
1 3 plaintiffs in the Epstein cases. Do you have any 
1 4 reason to doubt the accuracy of that testimony? 
15 A. No, sir. 
1 6 MS. HADDAD: I'm going to object to these 
1 7 same questions you keep asking, because Mr. Rothstein 
1 8 has testified at nauseam that he doesn't recall any 
1 9 of this and now you are asking him to bolster 
2 0 Mr. Edwards' either already given or purported 
2 1 testimony when he's testified he doesn't recall it. 
22 BY MR. SCAROLA: 
23 Q. I want you to  assume that Brad has or will 
2 9 testify under oath that you never asked him once to 
2 5 .12y2It o yalpaai2Lf_a_Etual matters rearding. 
Page 122 
the Epstein case. Do you have an reason to doubt the 
2 acculaa_of that. testimony? 
3 A. No, sir. 
4 Q. I want you to assume that Brad has testified 
5 repeatedly that he had absolute! no involveinent in or 
6 knowled 
7 a2L9.1ter RItA la er.  Do you have any i_s_a.s_oato doubt 
B Ill.ILE.1.9111l at testimon ? 
9 
10 Q. iwanttota1ktjieflaoopr 
o ou 
11 personal perce tions of the si ificance of the 
12 testimony that you are giving today.  If Brad Edwards 
13 had in fact, been a participant in any of the illegal 
14 an 
15 _sALoILL- s ve 1 mtlyllsgoligusaracjim 
16 knowingly=alscl Esima_prds' arlztiat 
17 do you understand the ersonal conse uences to be as a 
18 
1 9 Edwardsjarticipation?  
20 A. HI be violatinnent 
21 United States overnment and I would run the risk of 
22 dying in prison.  
23 Q. If Brad Edwards, contrary to what you have 
29 testified under oath and what Brad himself has 
25 to do with 
Page 123 
e of any ille al activity en a ed in by you or 
conse uence of your havine knowinely concealed Brad 
repeated] said knew about anythg havin 
illegal activities at thEIL_R fjp2Lanlyou concealed 
your knowled e of Brad Edwards' knov,..1g.e_of that 
illegal activiL, what do you understand the 
4 consequences of that false testirporly_to be? 
5 A. jJviolatiiiinaeentwjtht 
6 United Statesgovemment and]  
7 styginrison. 
MR. SCAROLA: Thank you. I don't have any 
further questions. 
10 THE WITNESS: Thank you, sir. 
11 MR. NURIK: Mark, I don't know what your 
12 time frame is on your litigation, but the ability to 
13 receive the transcript, review it and prepare an 
14 errata sheet within what is normally the time 
15 allotted under the court rules cannot be accomplished 
16 in this case. 
17 MR. GOLDBERGER: How much time are you 
18 generally-.-
19 MR. NURIK: I don't know. 
20 Actually, the first set of errata sheets 
21 have just been prepared and finalized for the first 
22 deposition in December. I'm not suggesting it will 
23 take that long this time, but if you can give me an 
24 idea of what your time responsibilities are with the 
25 court, what the time limits are --
Page 124 
MR. GOLDBERGER: Do you think it will be 
less than a month, two months? 
MR. NURIK: i don't think it will be less 
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. 
10 MR. GOLDBERGER: If time becomes an issue, 
11 we'll approach you and ask you to expedite. 
12 MR. SCAROLA: Mark, will tell that from 
13 our perspective time is an issue. 
14 MR. NUM: Have at it then, Jack. Do what 
15 you need to do to get it done. 
16 MR. SCAROLA: There is a long pending 
17 motion for summary judgment on Brad's behalf that has 
18 been delayed for purposes of taking this deposition. 
19 We are very anxious to be able to call that motion 
20 for summary judgment up for hearing, so whatever can 
21 be done reasonably to expedite the preparation of 
22 this portion of this transcript would be appreciated. 
23 We understand there are limitations beyond your 
24 control, but to the extent you can do it, that would 
25 be helpful. Thank you. 
Page 125 
32 (Pages 122 to 125) 
activities that you have been uestioned about at 
FRIEDMAN, LOMBARDI & OLSON 
305-371-6677 
5ed93085-0554-447f-bcdd-ca2d8fe941df 
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
MS. HADDAD: Its scheduled in a month, 
Mark. 
MR. NUR1K: We'll cooperate. 
MR. SCAROLA: Thank you very much. 
[Thereupon, the taking of the deposition was 
concluded at 12:37 p.m.] 
SCOTT ROTHSTEIN 
1 1 Sworn to and subscribed 
before me this day 
12 of , 2012. 
Notary Public, State 
of Florida at Large. 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
1 CERTIFICATE 
2 STATE OF FLORIDA ) 
COUNTY OF MIAMI-DADE ) 
3 
1, Pearlyck Martin, a Notary Public in and 
4 for the State of Florida at Large, do hereby certify 
that, pursuant to a Notice of Taking Deposition in 
5 the above-entitled cause, SCOTT ROTHSTEIN seas by me 
first duly cautioned and sworn to testify the whole 
6 truth, and upon being carefully examined testified as 
is hereinabove shown, and the testimony of said 
7 witness was reduced to typewriting under my personal 
supervision and that the said Video Conference 
deposition constitutes a true record of the testimony 
given by the witness. 
9 
10' 
11 
12 
1 further certify that the said Video 
Conference deposition was taken at the time and place 
specified hereinabove and that 1 am neither of 
counsel nor solicitor to either of the parties in 
said suit nor interested in the event of the cause. 
WITNESS my hand and official seal in the 
13 City of Miami, County of Dade, State of Florida. this 
day of June 19, 2012. 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
Pearlyck Martin 
Page 126 
Page 127 t 
2 
FRIEDMAN, LOMBARDI & OLSON 
Sore 924, Biscayne Building 
19 West Flagler Street 
Miami, Florida 33130 
Telephone (305) 371-6677 
June 21, 2012 
IN RE EPSTEIN VS EDWARDS 
SCOTT ROTHSTEIN C/O MARC NUR1K 
One East Broward Boulevard. Seventh Floor 
Ft. Lauderdale, Florida 33301 
Dear SCOTT ROTHSTEIN: 
With reference to ihe deposition of 
10 yourself taken on June 14, 2012, in connection with 
the above-captioned case, please be advised that the 
11 transcript of the deposition has been completed and 
is awaiting signature_ 
12 
Please arrange to stop by our office for 
13 the purpose of reading and signing the deposition. 
Our office hours are 9:00 am to 400 p.m, Monday 
1 4 through Friday. Please telephone in advance. 
15 You may, however, read a copy of the 
transcript, provided by any of the attorneys 
16 connected with the case, denoting any corrections by 
page and Fine number on a separate sheet of paper. 
17 This correction page must be signed by you and 
notarized and returned to us for filing with the 
38 original. 
39 If this has not been taken care of 
however, within lire next 30 days, or by the time of 
20 trial, whichever COITICS first, I shall then conclude 
that the reading, subscribing and notice of filing 
have been waived and shall then proceed to deliver 
the original of the transcript to ordering attorney 
without further notice. 
22 
23 
24 
25 
Pearlyck Martin 
Page 128 
33 (Pages 126 to 128) 
FRIEDMAN, LOMBARD] & OLSON 
305-371-6677 
5ed93085-0554-447f-bcdd-ca2d8fe941df 
"
IMAGES-001-HOUSE_OVERSIGHT_010968.txt,"at the end. Risk theory reinforces that impression by adding that the contribution of
productivity in the form of realized work/human capital actually declines. One
cannot pound too many stakes through the heart of the doctrine that pay

compensates realized work alone.

Next Generation Theory

I also treat rate of return. This combined free growth theory with insights of Petty
in 1662 and William Stanley Jevons in 1871. Petty’s idea was that each generation
passes the baton to the next. Our investment horizon is the generation length. Its
reciprocal, or one over that period, gives our time preference rate. Jevons also saw
time preference as the reciprocal of the period of production, but did not connect
that to the generation length. I adjust Petty’s estimate of the length from his 21
years to 28.5 by allowing for later births as well as firstborns. The reciprocal is 3.5%

per year. I add free growth as an exogenous and unspecified variable.

As with Mill and free growth theory, | have to walk a fine line between crediting
Petty and putting my ideas in his mouth. Petty dictated his books and pamphlets,
and is not always clear. My idea, probably but not certainly the same as his, is that
each generation invests everything in the next in trust that it will do the same. All
our capital of both factors, although Petty spoke only of a cornfield, is exhausted in
putting the next generation in place. The time horizon to get this done is the

generation length.

This 28.5 years, as I model it, becomes Jevons’ “period of production”. Its reciprocal,
meaning one over it, gives rate of return. The idea of a period of production whose
reciprocal gave rate of return had begun with Rae in 1934, if you don’t count Petty,
and passed through Nassau Senior to Jevons and Boehm Bawerk. All assumed
growthlessness for simplicity. Return is growth rate plus cash flow rate. It simplifies
to the pure consumption rate at the collective scale. All these men, even Petty, were
really modeling the pure consumption rate. 28.5 years gives the period of

replication, in my view, or period of production if there were no growth.

Chapter 2: Fast Forward 1/06/16 28

HOUSE_OVERSIGHT_010968
"
TEXT-001-HOUSE_OVERSIGHT_029566.txt,"From: J [jeevacation@gmail.com] 
Sent: 11/25/2018 11:40:36 PM 
To: Elisa New 
Subject: Re: invitation 
sorry , that was meant as a filler what is important is that she is joining the others priority . and not 
appearing on your show. ! :) i invite you to appear is DOA 
On Sun, Nov 25, 2018 at 7:39 PM Lisa New wrote: 
this poem about childbirth and is not for children. 
It's for adults and it raises awareness on the issues of discrimination against women athletes in sports 
,and, against women of color in childbirth. These are Serena's big issues now. 
Lisa 
On Sun, Nov 25, 2018 at 6:35 PM J <jeevacation@gmail.com> wrote: 
serena , bill clinon shaque and,,,,, have all on pbs. ? read poetry for children. I would love to have you 
do the same........blah blah blah do not say come on my show. 
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 
HOUSE OVERSIGHT 029566 
Director, Poetry in America 
Harvard University 
148 Barker Center 
1 12 Quincy Street  
Cambridge, MA  
02138  
I 
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 
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 
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 029568 
"
TEXT-001-HOUSE_OVERSIGHT_031329.txt,"﻿From: middle.east.update@hotmail.com
To: Middle East Update middle.east.update@hotmail.com; 
Subject: Middle East Update - May 25-31, 2011
Sent: 6/1/2011 10:47:23 PM

 

Middle East Update

May 25-31, 2011

 

 

Syria

International pressure on Damascus is mounting. After the US imposed sanctions on the Syrian leadership earlier in May, the EU foreign ministers agreed to impose travel bans and to freeze the assets of President Assad and nine other Syrian senior officials. Within days of the EU announcement, Canada invoked similar travel and economic sanctions.

 

While Russia blocked any reference in the G8 communiqué to the possibility of deferring the issue of Syria to the UN Security Council, the communiqué’s compromise language illustrates the international community’s increased pressure on the regime. The G8 leaders stated that they were “appalled” by the death of peaceful protesters and called on the Syrian leadership to immediately stop using force against its people or the G-8 countries would “consider taking further measures”. 

 

At the same time, Sheikh Hassan Nasrallah—the leader of the Lebanese party Hizbullah—called on the Syrian people to give the government time to effectuate reforms, arguing that President Assad believes in reforming the system and is determined to implement change. The Hizbullah leader denied that his party has dispatched fighters to assist the Syrian regime in quelling the protest movement. Anti-Iran and -Hizbullah slogans were chanted in a number of Syrian cities in response to Nasrallah’s defense of the regime and his pictures were burned in Deir Ezzor in eastern Syria.

 

Syrian protesters declared Friday “the day of the Guardians of the Homeland”—a reference to the Syrian armed forces—in an effort to encourage the army to join the uprising. Security and military forces appear, however, to be stepping up their campaign in an attempt to end the protests. Tens of people were killed or wounded over the weekend and tanks have entered two suburbs of the city of Homs, Rastan, and Talbiseh. The heavy-handed repression by police and military officials may lead demonstrators to consider a recourse to arms.

 

The government is cracking down on protesters’ use of social media, but, in contrast to what occurred in Egypt, it has refrained from a general shut down of the internet. Security officials are forcing dissidents to turn over their Facebook passwords and have switched off 3G mobile networks in order to prevent the uploading of protestor videos to YouTube. The electricity and phone service has been cut off in neighborhoods where discontent is mounting. 

 

Facebook and, in particular, its “Syrian Revolution 2011” page, has been a vital platform for activists to mobilize protests and to disseminate information. Syria has over 580,000 Facebook users. In response to government measures, protesters have created multiple Facebook pages under different names and have given their Facebook passwords to friends in case they are arrested or disappear and their comments opposing the Assad regime  need to be quickly removed from personal webpages.

 

Syrian activists acknowledge their debt to the Tunisian and Egyptian revolutions, further improvising and improving on their tactics on a daily basis in an effort to avoid retribution by the regime and to sustain the protest movement. Daytime demonstrations have moved to the evening in order to make it more difficult for security forces to identify individual protesters and to single them out for arrest. After dark, protesters can disperse to unlit alleyways to escape arrest—a tactic Syrian activists call “tayyara” or flying.

 

Yemen

The authority of President Saleh’s government continues to erode rapidly and Yemen appears to be edging closer towards a civil war. Tribal fighters in the capital of Sanaa, have gained control of key ministries, including the Interior Ministry. Brigades from the Republican Guard—the President’s main forces—have surrendered to tribal fighters east and west of the capital who have succeeded in blocking their deployment to Sanaa.

 

According to well-informed sources, the Vice President, the Prime Minister, and the Speaker of the Yemeni Consultative Council have tried to convince President Saleh to sign the agreement mediated by the Gulf Cooperation Council (GCC) in an effort to avoid civil conflict. Disregarding their advice, President Saleh remains convinced that he will be able to stem the uprising and maintain his control of the government.

 

On Sunday night, President Saleh ordered units of the Republican Guard and Central Security—commanded by his son and a nephew, respectively—to clear the protestors from Liberty Square in the city of Taizs, where they have been camping for more than four months. Dozens of civilians were killed and approximately 1000 were wounded. Reports indicate that President Saleh is preparing to attack protesters in other cities and towns.

 

The absence of a political solution to the Yemeni uprising has led to an escalation of violence in Sanaa. Fighting between President Saleh’s forces and those of the leader of the powerful Hashid tribe, Sheikh Sadiq al-Ahmar—a supporter of the Youth revolution—broke out on Monday. The Republican Guards fired missiles at Ahmar’s residence, killing approximately fifty people, including prominent personalities who were trying to mediate an end to the fighting. This attack has further alienated other tribes from President Saleh’s regime.

 

Friday’s G8 declaration expressed growing concern regarding the situation in Yemen and urged President Saleh to immediately “ensure that the legitimate aspirations of the Yemeni people are addressed.” Reports indicate that King Abdullah of Saudi Arabia has also called on President Saleh to immediately leave office. Having turned his army against the Ahmar family, which has close ties to Saudi leaders, President Saleh has no doubt done some damage to Saudi-Yemeni relations.

 

US officials are continuing to consult with Arab and European allies in an effort to bring the deteriorating situation to the attention of the UN Security Council. A UNSC Presidential Statement asking Saleh to accept the GCC-mediated agreement is being considered. In the absence of compliance, and in the event of an escalation of fighting, sanctions could be imposed on the President and his family. Last Sunday, John Brennan, Assistant to President Obama, called President Saleh to brief him on Washington’s plans and to urge him to sign the Gulf agreement.

 

The sudden withdrawal of government forces from the city of Zinjibar, in the Abyan province, made it possible for al-Qaida fighters to occupy the city and to take over government offices. Military commanders who defected from the regime have issued a communiqué accusing the President of facilitating al-Qaida’s takeover of Zinjibar. They see this as an attempt to scare the West into supporting President Saleh by convincing them that al-Qaida will take over if Saleh leaves. The split within the military is wide and deep.

 

The Republican Guard and the Special Forces, the elite forces that are in charge of the President’s protection, are not necessarily immune from division. Each side, however, calculates that its opponents are weak and, therefore, the temptation to resort to military means to resolve the impasse is very high. 

 

Jordan

Demonstrations took place after Friday prayers in the cities of Amman and Maan—where railroad workers went on strike, paralyzing rail services. Protesters called for political reforms and increased efforts to combat corruption. A silent protest was also convened in front of the Jordanian Parliament, calling for constitutional democracy, not just amending of the constitution. 

 

Libya

President Barack Obama and Prime Minister David Cameron have indicated that they are bracing for a long battle in Libya, not just to remove Col. Qaddafi from power, but to guide the burgeoning democracy movement in other Arab states to a successful conclusion.

 

NATO leaders have decided against bombing Libya’s infrastructure, an idea voiced by many officials, including Britain top military commander, Gen. Sir David Richards. President Obama has urged patience, underscoring that the combination of bombing, sanctions, and import cutoff will force Qaddafi from power.

 

Following the Summit meeting in France, G8 leaders declared that “Qaddafi and the Libyan government have failed to fulfill their responsibilities to protect the Libyan population and have lost all legitimacy. [Qaddafi] has no future in a free, democratic Libya. He must go.”  Russia agreed to this formulation after initial objections. 

 

Morocco

Last Sunday, Moroccan authorities detained several demonstrators who were protesting under the banner of “insistence on change.” Prominent Moroccan human rights advocates expressed indignation at the treatment of protesters by security forces, considering it to be an escalation of repressive methods toward peaceful protests and a sign of the regime’s lack of determination to effectuate democratic change. The opposition movement is organizing a nation-wide protest on June 5 in response to these arrests. 

 

Moroccan security forces have accused the 20th February movement—which is demanding constitutional reforms—of violating the law, claiming that the movement has become an umbrella cover for extremists, from the left and right, who are calling for the downfall of the regime. Officials have, however, denied allegations that the government has decided to forbid the movement from protesting. 

 

Bahrain

Sources suggest that the opposition plans to resume protests for democratic reforms as soon as the emergency law is lifted on June 1.

 

According to reports, Saudi officials have approached Pakistan, Malaysia, Indonesia, and Central Asian states to lend diplomatic support and, possibly, military assistance to the Gulf Cooperation Council’s presence in Bahrain. Saudi national security adviser, Prince Bandar bin Sultan, has reportedly asked for Pakistani support in Bahrain, including the possible integration of Pakistani troops into the approximately 4000 Saudis already posted there. Malaysia has already indicated its willingness to send troops to Bahrain. 

 

Saudi Arabia

Protesters in eastern Saudi Arabia, an area mostly populated by Saudi Shiites, believed their movement would spread to other parts of the country, but the protests remained confined to the East. The youth movement ended its protests there, following pressure from community elders and the arrests of 150 demonstrators. Activists believe that the protests for democratic reforms and an end to sectarian discrimination will eventually resume. Riyadh remains concerned that Iran is manipulating Shiite sentiments and the desire for reforms in order to further Iranian foreign policy objectives. 

 

Manal al-Sharif—an information technology expert—was detained for five days on Sunday on charges of disturbing public order. Sharif was arrested while driving in the eastern city of Dammam with her brother sitting next to her, challenging the law that forbids Saudi females from driving.

 

Her arrest has been highlighted on both Facebook and Twitter, with a call to Saudi women to drive en masse on June 17. The campaign has so far attracted 12,000 followers on Facebook. Saudi Arabia is the only country that forbids women from driving. The Saudi government wants to prevent the rise of a movement, using social media having observed similar protest movements in other Arab states. An online petition to free Sharif, addressed to King Abdullah, has attracted more than 600 signatures by both men and women.

"
IMAGES-002-HOUSE_OVERSIGHT_013001.txt,"4.5 Globalist versus Localist Representations 85

“inner domain in which we can rehearse telephone numbers to ourselves or, more interestingly,
in which we carry on the narrative of our lives. It is usually thought to include inner speech
and visual imagery.” Baars uses the term “consciousness” to refer to the contents of working
memory — a theoretical commitment that is not part of the CogPrime design. In this section
we will use the term “consciousness” in Baars’ way, but not throughout the rest of the book.

Baars conceives working memory and consciousness in terms of a “theater metaphor” — ac-
cording to which, in the “theater of consciousness” a “spotlight of selective attention” shines
a bright spot on stage. The bright spot reveals the global workspace — the contents of con-
sciousness, which may be metaphorically considered as a group of actors moving in and out of
consciousness, making speeches or interacting with each other. The unconscious is represented
by the audience watching the play ... and there is also a role for the director (the mind’s ex-
ecutive processes) behind the scenes, along with a variety of helpers like stage hands, script
writers, scene designers, etc.

GWT describes a fleeting memory with a duration of a few seconds. This is much shorter
than the 10-30 seconds of classical working memory — according to GWT there is a very brief
“cognitive cycle” in which the global workspace is refreshed, and the time period an item remains
in working memory generally spans a large number of these elementary “refresh” actions. GWT
contents are proposed to correspond to what we are conscious of, and are said to be broadcast
to a multitude of unconscious cognitive brain processes. Unconscious processes, operating in
parallel, can form coalitions which can act as input processes to the global workspace. Each
unconscious process is viewed as relating to certain goals, and seeking to get involved with
coalitions that will get enough importance to become part of the global workspace — because
once they’re in the global workspace they’ll be allowed to broadcast out across the mind as a
whole, which include broadcasting to the internal and external actuators that allow the mind
to do things. Getting into the global workspace is a process’s best shot at achieving its goals.

Obviously, the theater metaphor used to describe the GWT is evocative but limited; for
instance, the unconscious in the mind does a lot more than the audience in a theater. The
unconscious comes up with complex creative ideas sometimes, which feed into consciousness —
almost as if the audience is also the scriptwriter. Baars’ theory, with its understanding of uncon-
scious dynamics in terms of coalition-building, fails to describe the subtle dynamics occurring
within the various forms of long-term memory, which result in subtle nonlinear interactions
between long term memory and working memory. But nevertheless, GWT successfully models
a number of characteristics of consciousness, including its role in handling novel situations, its
limited capacity, its sequential nature, and its ability to trigger a vast range of unconscious
brain processes. It is the framework on which LIDA’s theory of the cognitive cycle is built.

4.5.9 The LIDA Cognitive Cycle

The simplest cognitive cycle is that of an animal, which senses the world, compares sensation to
memory, and chooses an action, all in one fluid subjective moment. But the same cognitive cycle
structure/process applies to higher-level cognitive processes as well. The LIDA architecture is
based on the LIDA model of the cognitive cycle, which posits a particular structure underlying
the cognitive cycle that possess the generality to encompass both simple and complex cognitive
moments.

HOUSE_OVERSIGHT_013001
"
IMAGES-006-HOUSE_OVERSIGHT_022262.txt,"From: Vinit Sahni i)

Sent: 3/14/2014 4:41:47 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re: Oil options

Importance: — High

Classification: External Communication
Agree will address, need to fix this.

Back mid day tuesday from tokyo.

From: Jeffrey Epstein [jeevacation@gmail.com]
Sent: 03/13/2014 11:39 PM AST

To: Vinit Sahni

Subject: Re: Oil options

thanks 4 hours fora quote ina normally fast moving market ? confirms my voiced concerns

On Thu, Mar 13, 2014 at 10:24 PM, Vinit Sahni <q wrote:

Classification: External Communication

Iam ona _ to and from tokyo tomorrow next 2-3 days, if u need something otherwise available 24/7 on

Vinit Sahni

----- Original Message -----
From: Vinit Sahni
Sent: 03/13/2014 09:47 PM EDT
To: jeevacation@gmail.com
Ce: Paul Morris
Subject: Fw: Oil options
Classification: External Communication

Jeffrey - apologise if this long to execute next time we'll be much quicker.
= Nav Gupta

ba

----- Original Message -----
From: Nav Gupta
Sent: 03/12/2014 09:35 PM GDT
To: ""jeevacation@gmail.com"" <jeevacation@gmail.com>

Ce: Tazia Smith; Paul Morris/db/yy Vinit sahni/do I

Subject: Oil options
Jeffrey

Just got off the phone with Vinit.
DB stopped marketmaking OTC oil options - for short dated I'd 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-

HOUSE_OVERSIGHT_022262
"
IMAGES-010-HOUSE_OVERSIGHT_028821.txt,"InsightsPod

Financing Needed

Currently the business receives $8000 as funding by the founder every month. No loans
have been taken. Founders are not taking any salaries and will not do so for another 2
years.

We are looking to raise $2.4 million at a $10 million valuation to scale. We require
$800,000 per year for the next three years. The proceedings will be used to:

- Refine our sentiment analysis system (currently 5% false positives)
- Hire a PR firm

- Hire a Data Scientist

- Marketing and Sales (UK and US Market)

- Office space in London and San Francisco

| Page 4 |

CONFIDENTIAL - DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with
third parties without the express written consent of the plan author.

HOUSE_OVERSIGHT_028821
"
TEXT-001-HOUSE_OVERSIGHT_030989.txt,"From: Richard Kahn 
Sent: 5/29/2019 10:28:52 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Wolff Book 
Importance: High 
i am sure you read attached 
articles already on internet.. 
https://www.rawstory.com/2019/05/new-book-paints-sordid-picture-of-trump-real-estate-deal-involving-
russian-oligarch-and-jeffrey-epstein/  
New book paints sordid picture of Trump real estate 
deal involving Russian oligarch and Jeffrey Epstein 
By Travis Gettys - May 29, 2019 
President Donald Trump departs the White House for Palm Beach, FL (Shutterstock) 
AddThis Sharing Buttons 
Share to Flipboard 
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A new book claims Jeffrey Epstein played a key role in a shady Palm Beach real estate deal between President 
Donald Trump and a Russian oligarch. 
Michael Wolff's forthcoming book, ""Siege,"" details the 2004 property deal that involved the future president, 
Deutsche Bank, a child predator and an ally of Russian president Vladimir Putin, reported The Guardian. 
HOUSE OVERSIGHT 030989 
ADVERTISING 
According to Wolff's account, Epstein showed his friend Trump a $55 million mansion he planned to buy, but 
Trump instead went behind his back to buy the foreclosed property for about $40 million. 
Epstein didn't believe Trump could raise that much money on his own, through an entity called Trump 
Properties LLC that was entirely financed by Deutsche Bank, Wolff wrote. 
The billionaire financier knew Trump had been loaning out his name in real estate deals for a fee, and he 
suspected the freshly minted reality TV star was fronting for the mansion's real owners. 
74-.PUP. 
Epstein threatened to expose the deal until he found himself under investigation by Palm Beach police for child 
sex abuse and human trafficking, and he eventually served 13 months in county jail as part of a controversial 
plea agreement brokered by Trump's future Labor Secretary Alex Acosta. 
Trump later put the mansion on the market for $125 million, despite making only minor improvements to the 
property. 
It was purchased for $96 million by Dmitry Rybolovlev, a Kremlin-linked industrialist — which meant Trump 
made $55 million on the deal despite risking none of his own money. 
Wolff offers two possible theories for the deal. 
The author suspects that Trump may have earned a fee for hiding a shadow owner who possibly was funneled 
cash by Rybolovlev for reasons beyond the property's value. 
Or, Wolff theorizes, Rybolovlev essentially bought the house from himself, with Trump as an intermediary, to 
launder ill-gotten money. 
""This,"" Wolff wrote, ""was Donald Trump's world of real estate."" 
Rybolovlev tore down the mansion in 2016 and sold off the property as three lots for less than the $115 million 
he had invested in it. 
Top of Form 
Don't let Silicon Valley control what you see. Get more stories like this 
in your inbox, every day. 
Email Address 
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Report typos and corrections to corrections@rawstory.com 
HOUSE OVERSIGHT 030990 
Next on Raw Story > 
Russia is 'likely' conducting nuclear testing — despite Trump's friendship with Putin: US intel agencies 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
tel 
fax 
cell 
HOUSE OVERSIGHT 030991 
"
IMAGES-002-HOUSE_OVERSIGHT_013767.txt,"Kaplan, D.T., Glass, L. (1992) Direct test for determinism in a time series. Phys.
Rev. Lett. 68:427-430

Katz, B. (1966) Nerve, Muscle and Synapse. McGraw-Hill. N.Y.

Kelly,O.E., Johnson, D.H., Delgutte, B., Cariani, P. (1996)Fractal noise strength in
auditory-nerve fiber recordings. J Acoust Soc Am 99:2210-20

Keunen, R.W.,Vliegen, J.H., Stam,C.J., Tavy, D.L.(1996) Nonlinear transcranial
Doppler analysis demonstrates age-related changes of cerebral hemodynamics.
Ultrasound Med Biol 22:383-390

Khinchin, A.|. (1957) Mathematical Foundations of Information Theory. Dover. N.Y.

King, R., Barchus, J.D., Huberman, B.A. (1984) Chaotic behavior in dopamine
neurodynamics. Proc. Natl. Acad. Sci. 81:1244-1247

Klafter, J., Shlesinger, M.F., Zumofen, G. (1996) Beyond brownian motion. Physics
Today Feb. pp 33-39

Klemm, W.R. (1990) Historical and introductory perspectives on brain-stem

mediated behaviors In (ed. Klemm, W.R., Vertes, R.P.) Wiley-Interscience, N.Y.

Klemm, W.R., Sherry, C.J. (1981) Serial ordering in spike trains: what's it ""trying to
tell us""? Int J Neurosci 14:15-33

Knapp, S., Mandell, A.J. (1983) Scattering kinetics in a complex tryptophan

hydroxylase preparation from rat brainstem raphe nuclei: statistical evidence that

267

HOUSE_OVERSIGHT_013767
"
IMAGES-010-HOUSE_OVERSIGHT_029281.txt,"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_029281
"
IMAGES-002-HOUSE_OVERSIGHT_014008.txt,"Calendar www.SpamArrest.com
Username: XXXX

Password: XXXX

http://calendar.google.com
Login: XXXX
PW: XXXX

www.Amazon.com
Username: XXXX
Password: XXXX

Google G-mail Account
http://mail.google.com
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PW: XXXX

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Reader-Only Resources
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PASSWORD FOR READERS ONLY IS: XXXX

Team Requirements

[I often have exec-level assistants manage 4—5 other “sub VAs” who handle certain repetitive tasks, often
at half the exec VA’s hourly rate. The exec VA takes on an office manager or, in some cases, COO-level
function. ]

e » Download: www.alexa.com — Toolbar

e + Learn Statistics, Rank for Business Prospect and Joint-Venture
Opportunities

> Deadlines are extremely important. Be Aware of them, and Be
Punctual!

- If Tim says “Call me back,” CALL HIM BACK, do not send an e-
mail. This is an important point, as Tim does not always have e-
mail access because he is traveling a lot.

e » Even if it is late in the evening, he is up late, if he does not want to

answer his phone, he will not. But PLEASE call him back when
he asks you to. He much prefers a phone call to an e-mail.

HOUSE_OVERSIGHT_014008
"
TEXT-001-HOUSE_OVERSIGHT_030751.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 3/30/2015 1:52:00 AM 
To: Michael Wolff 
Subject: more to follow 
Pg 5 first par — reporter speaks about a ""sex slave ring"" and speaks in the plural ""sex slaves"" suggesting more 
than one accusation 
Pg 8 1st par — reporter should clarify that the young women at your house (and later on your plane) are 
comely but clearly not underage 
Pg 20- might lead a reader to think you helped clients hide wealth raises flags) 
Pg 21 — Hoffenberg mentioned — I assume from what everyone including J Sweet says he is nuts but not 
flattering and totally irrelevant to the story 
Pg 25 — quoting you on massages — your adversaries will exploit this to show a lack of remorse, minimizing 
the conduct etc - 
Pg 25-26 — don't help him with SG — he's confusing SG and HR — whatever SGs age her website said she was 
18 
Pg 26 — he loops back to your ""description"" which opens reporter up to tough depoto 
Pg 28 — your quotes re NPA being Kafkaesque.....can be exploited to harm you 
Pg 30 — he writes about VR — ""new chapter"" — sounds like he is quoting you — he can preface it with 
""according to court papers..."" and not suggest you are narrating the description of the VR allegations 
Pg 31 — he writes that you said this ""this is all utterly false"" re VR allegations should limit denial to Clinton, 
Gore 
Pg 31 — he writes that VR is now suing you for 50M not true case over. 
Pg 31-2 — close to end where he says in essence the only thing you regret is not being more circumspect re 
legal advice — not wise , 
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 030751 
"
IMAGES-008-HOUSE_OVERSIGHT_026408.txt,"""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
, 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.

HOUSE_OVERSIGHT_026408
"
IMAGES-002-HOUSE_OVERSIGHT_012479.txt,"—

oc Oo OWN DO Be Ww NY

b&b W DY

~0929104. TXT

98
Ocariz about this case?

A. No.

Q. Do you know who Burt Ocariz is?

Let's see if | can refresh your memory.
Does it refresh your memory that he's a good friend of
Marie Villafona's boyfriend?

A. | don't know who Mari Villafona is.

Q. Marie Villafona is the lead federal
prosecutor that's on the federal part of this case.

Okay?

A. No.

Q. So does it refresh your memory that Ocariz
is the good friend of Marie Villafona's boy friend?

A, Not at all.

Q. Does it refresh your memory that Villafona
tried to get Epstein to pay for Ocariz to represent you
in the federal case?

A. No.

Q. Do you know if Detective Recarey has spoken
with your father?

A. No.

Q. Do you know if Detective Recarey has spoken
to your stepmother?

A. No.

Q. How about with amber?

99

A. Yes, | would know, and no, she did not.

Q. Let's put up -- let me ask you some

questions about the photo that you had posted on your

MySpace page before you erased it last week. Okay?
Page 84

HOUSE_OVERSIGHT_012479
"
IMAGES-003-HOUSE_OVERSIGHT_016256.txt,"In 2005, George Dyson, a historian of science and technology, visited Google at the
invitation of some Google engineers. The occasion was the sixtieth anniversary of John
von Neumann's proposal for a digital computer. After the visit, George wrote an essay,
“Turing’s Cathedral,” which, for the first time, alerted the public about what Google 's
founders had in store for the world. “We are not scanning all those books to be read by
people,” explained one of his hosts after his talk. “We are scanning them to be read by
an Al.”

George offers a counternarrative to the digital age. His interests have included
the development of the Aleut kayak, the evolution of digital computing and
telecommunications, the origins of the digital universe, and a path not taken into space.
His career (he never finished high school, yet has been awarded an honorary doctorate
jrom the University of Victoria) has proved as impossible to classify as his books.

He likes to point out that analog computing, once believed to be as extinct as the
differential analyzer, has returned. He argues that while we may use digital components,
at a certain point the analog computing being performed by the system far exceeds the
complexity of the digital code with which it is built. He believes that true artificial
intelligence—with analog control systems emerging from a digital substrate the way
digital computers emerged out of analog components in the aftermath of World War II—
may not be as far off as we think.

In this essay, George contemplates the distinction between analog and digital
computation and finds analog to be alive and well. Nature’s response to an attempt to
program machines to control everything may be machines without programming over
which no one has control.

36

HOUSE_OVERSIGHT_016256
"
IMAGES-012-HOUSE_OVERSIGHT_033428.txt,"From: J [jeevacation@gmail.com]
Sent: 2/5/2019 5:44:43 PM
To: jeffrey epstein [jeevacation@gmail.com]

Importance: — High

https://www.vox.com/2019/2/5/18211600/trump-inauguration-investigation-subpoena-sdny

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_033428
"
IMAGES-008-HOUSE_OVERSIGHT_025101.txt,"From: Pritzker, Tom

Sent: 11/28/2016 6:47:56 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: RE: Re:

Importance: — High
Cash or in-kind services?

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Monday, November 28, 2016 12:47 PM

Subject: Re: Re:

comey knows that denise neeed to pledge 500k to foundation

On Mon, Nov 28, 2016 at 1:44 PM, Pritzker, Tom ee wrote:

Read an interesting article on why Comey screwed Clinton. Came from Israeli press.

1. Comey as DA is hunting down Marc Rich to indict him.

2. Ehud calls Clinton and says please pardon Marc Rich he has done work for Mossad that has been valuable.
3. Clinton pardons Rich and Comey has been pissed ever since.

4. Comey got his opening to get even.

No idea if this is accurate story.

tjp

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Monday, November 28, 2016 12:39 PM

To: Pritzker, Tom
Subject: Re:

barrack and the boys in pb, wild wild.

On Mon, Nov 28, 2016 at 1:37 PM, Pritzker, Tom FG wrote:

Will check

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Monday, November 28, 2016 12:35 PM

To: Pritzker, Torn

Subject:

imin wed, fri. edelman?

please note

HOUSE_OVERSIGHT_025101
"
IMAGES-007-HOUSE_OVERSIGHT_023253.txt,"Subject: so there is no misunderstandin

To: Melanie Spinella a -
I have told the brads and barry,- Iam 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 1 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 1 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 pwe 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 (i iii i>
Leon,

Yesterday , again spent hours upon hours of my time with your office. ,( speak to brad to get
flavor) and you and 1 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 Ilc'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 1 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 arule 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 1 would and wouldn't
do , - my responsibilities. ete and those things that are not. below you will find details of things that I

HOUSE_OVERSIGHT_023253
"
IMAGES-003-HOUSE_OVERSIGHT_015987.txt,"Our job, as humans, was to look at the earth and discover things
about it. When we looked at light passing through water or built
a boat to travel on it, we were discovering, not inventing. Shipwrights did
not invent boats they were simply building inevitable forms. Everything
there was to know already existed, we just hadn't realized it yet. Of course,
Greek playwrights were busy ‘creating the first plays; tragedies, comedies
and the like, but serious thinkers thought of them as documenting the
human condition. It wasn't until the Renaissance, 1500 years later, that
humans began to appreciate that they create knowledge, and this started
us on our quest to understand creativity.
One of my childhood memories is sitting on the kitchen floor with
a glass of water and surrounded by knives and milk bottles. I was trying
to solve one of the problems from Edward de Bono’s book on lateral
thinking, A Five-day Course in Thinking. De Bono, now in his 80s, is
a prolific writer with over 60 publications to his name - all aimed at

r Whe ancient Greeks believed there was no such thing as creativity.

making us more creative. His books pose a series of practical problems,
each needing progressively greater creative intelligence. The particular
problem I was trying to solve was to balance a glass of water on knives
suspended from four milk bottles. It took me after 2 hours.

Steve Jobs shows the iPhone

HOUSE_OVERSIGHT_015987
"
IMAGES-011-HOUSE_OVERSIGHT_031087.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_031087
"
IMAGES-012-HOUSE_OVERSIGHT_032736.txt,"From: Landon Thomas _— as

Sent: 3/24/2018 12:19:49 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

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

HOUSE_OVERSIGHT_032736
"
IMAGES-004-HOUSE_OVERSIGHT_018069.txt,"Mercedes Benz Fashion Week

General Idea Show. 1:00pm. Spring 2011 men's collection. Invitation only. Lincoln Center Plaza. New York. jess@williamsonpr.com.

Event address: West 65th St. and Broadway, New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Mercedes Benz Fashion Week

Vittadini Presentation. 1:00 pm. Spring 2011 collection. Invitation only. Lincoln Center Plaza. New York. vittadini@companyagenda.com.

Event address: West 65th St. and Broadway, New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

3.1 Phillip Lim

Fashion Week Show. 2:00pm. Spring 2011 women's collection. Invitation only. Park Avenue Armory. New
York. request@kcdworldwide.com.

Event address: 643 Park Avenue, New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Mercedes Benz Fashion Week

Gottex Show. 2:00 pm. Spring 2011 collection. Invitation only. Lincoln Center Plaza. New York. gottex@atelierpr.com.

Event address: West 65th St. and Broadway, New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Yigal Azrouel

Fashion Week Show. 2:00pm. Spring 2011 men's collection. Invitation only. Pier 59 Studios, Art and Fashion Group. New York.

Event address: Pier 59, at Chelsea Piers, New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Mercedes Benz Fashion Week

Milly by Michelle Smith Show. 3:00 pm. Spring 2011 collection. Invitation only. Lincoln Center Plaza. New York. requests@laforce-
stevens.com.

Event address: West 65th St. and Broadway, New York.
Tags: Fashion Event Fashion Show Exclusive Mix Industry Beauty Industry Fashion Industry Media Industry Retail.

Marchesa

HOUSE_OVERSIGHT_018069
"
IMAGES-008-HOUSE_OVERSIGHT_025115.txt,"r@)
May 13-14, 2017 oy

COMMENT

OPINION

ChinaDaily
chinadaily.com.cn/opinion

Jean Pierre Raffarin and Xu Gai

Anew growth point
for world economy

n Europe, the Belt and Road Initiative does not

get the attention it deserves. However, the history

of the ancient Silk Road has fed our imagination

for centuries. Today, China speaks for reality
while Europe is limiting itself to curiosity. But newly
elected French President Emmanuel Macron can accel-
erate Europe's interest in the initiative.

President Xi Jinping surprised the rest of the world
when he announced the Belt and Road Initiative. As
often happens in China, the idea is the result of a deep
strategic reflection.

China is seeking big markets for its industrial prod-
ucts. Marginal gains of globalization are shrinking,
and growth needs a new revival. In Asia, this new
revival is called connectivity. By helping the econo-
mies along the Belt and Road routes to develop and
improve their infrastructure, hard and soft, China is
reinforcing its openness and the upgrading of its
manufacturing sector.

The initiative will also help the internationalization
of its currency and, in the long run, the transformation
of its growth toward quality.

Europe should find interest in this. Under the initia-
tive, cooperation with China on its two aisles, Eurasia
and “Eurafrica’, can allow the European Union to
reach its economic growth and employment targets.

That big geostrategic region must become “a com-
munity of interests, of responsibility and common fate”

As Premier Li Keqiang has often said, “today, no
nation can succeed alone” Therefore we must invent
international engaging projects. This perspective is
definitely pacifist. And by serving development and
prosperity, it serves peace.

China’s analysis needs to be studied. In the past, the East
was the place where goods were born, and the West where
they matured. Today, the West is standing still or even
going backward while the East initiates reforms.

Asian dynamics must reach Europe. As a country of
new technologies, France is ready. Its interest is even
more relevant since the United States has become
more unpredictable and is turning toward the Asia-Pa-
cific region while ignoring Europe.

Eurasia is the future global balancing power. In the
initiative, Europe can find a historical opportunity to
put itself into a more central world position. So, is this
the time to redefine transatlantic relations?

For China, the West-led globalization has created
harsh competitions, partly destructive. It points to civi-
lizations moving backward, for example, by giving rise
to populism in the West and Brexit. That is why the
election of Macron as French president sends a mes-
sage of trust and hope.

Eurasia, marked by great civilizations such as Egyp-
tian, Babylonian, Greek, Indian and Chinese, can be
the place of rebirth of civilization. And oceans must
again find a place in this civilization.

The Belt and Road Initiative, like other innovative
21st century ideas, is not speculative or virtual. Huge
financial means and multilateral tools have been
invested to give shape to the initiative, which will
reform global governance.

The Asian Infrastructure and Investment Bank will
definitely leverage growth for Eurasian economies.
And the initiative, BRICS New Development Bank and
the Silk Road Fund all show that China has the power
to realize its vision.

In the next five years, China will import $10 trillion
worth of goods and invest more than $500 billion
abroad. The current pace is faster than the 13th Five-
Year Plan (2016-20) forecast. For the first time this year,
Chinese investments abroad have exceeded foreign
investments in China.

France is following the initiative with interest, and
must realize that it directly touches its interests and
alliances. This is a great opportunity for the new
French president.

By choosing a message of openness, the French peo-
ple have shown they are open to great adventures that
serve development, hence peace.

Jean Pierre Raffarin is former prime minister of
France and president of the Senate’s Foreign Affairs,
Military and Defense Commission, and Xu Gat ts his
advisor on China affairs.

CONTACT US

China Daily

15 Huixin Dongjie Chaoyang, Beijing 100029

News: +86 (0) 10 6491-8366;

editor@chinadaily.com.cn

Subscription: +86 400-699-0203;

subscribe@chinadaily.com.cn

Advertisement: +86 (0) 10 6491-8631;

ads@chinadaily.com.cn

Phone app: chinadaily.com.cn/iphone

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York, NY 10036 +1 212 537 8888

editor@chinadailyusa.com

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Kong
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+254 (0) 20 522 3498 (Nairobi)
editor@chinadailyafrica.ccom
enquiries@chinadailyafrica.com
subscription@chinadailyafrica.ccom

Yang Yanyi

Together we can make a difference

he Belt and Road Forum for

International Cooperation to

be held in Beijing on Sunday

and Monday will see the par-
ticipation of some 1,500 officials, schol-
ars, entrepreneurs from more than 130
countries, and representatives from more
than 70 international organizations. Of
the 29 heads of state and government
who will participate in the forum, quite a
few are from Europe. European Commis-
sion Vice-President Jyrki Katainen, too,
will take part in the forum.

At atime when the global economic
recovery is still sluggish, trade and invest-
ment remains weak, and growth impetus
unstable, the forum offers an excellent
opportunity to review the gains and,
more importantly, to build a closer and
stronger partnership.

China and the European Union share
much in common in pursuing shared
growth, development and connectivity,
including through the Belt and Road Ini-
tiative, and have come up with a proud
record so far.

At the 17th China-EU Summit in 2015,
China and the EU agreed to synergize the
initiative and the Investment Plan for
Europe. China and some EU countries
have signed inter-governmental coopera-
tion agreements and launched a Belt and
Road working group mechanism to joint-

ly advance the initiative. Also, China and
16 Central and Eastern European coun-
tries have worked closely to enhance
cooperation under the Belt and Road Ini-
tiative and the 16+1 framework.

As concrete steps to promote seamless
traffic flows, China and the EU signed an
MOU for the establishment of a “Connec-
tivity Platform” China has launched rail-
way freight service to some European
countries. And cooperation in such areas
as railways, ports, airports, power, trans-
portation and logistics has gathered
momentum.

The two sides are also working
together to deepen dialogue and cooper-
ation in information and communica-
tions technology.

To develop practical financial avenues
for mutually beneficial cooperation, Chi-
naand the EU agreed to set up a co-in-
vestment fund. And early this year,
China became the 67th member of the
European Bank of Reconstruction and
Development.

The Beijing forum has now raised the
two sides’ interest in exploring potential
areas of cooperation to create fresh ener-
gy for pursuing interconnected develop-
ment. To contribute to the ongoing
efforts and deliberations, here are my
suggestions.

First, the Belt and Road Initiative is

guided by the spirit of openness and
constructive cooperation. Given the ris-
ing protectionist and anti-globalization
sentiments in many parts of the world,
it is in our interest that China and the
EU stay committed to free trade and
economic openness, a rules-based,
transparent and fair international trad-
ing regime and order, and open up mar-
kets, oppose protectionism and secure
greater connectivity and economic
development and prosperity.

Second, the initiative is a win-win for-
mula. The notion that this project is
designed to enable China to access new
markets, which will pose a challenge,
even “threat”; to the future of Europe is
wrong, as it neglects the fresh perspec-
tives it will bring to European integration.
Being open, transparent, harmonious and
inclusive, the initiative is an invitation to
all economies along the Belt and Road
routes to build synergies between their
development strategies and the initiative,
explore cooperation, and share the bene-
fits of the projects.

Third, it is time that China and the
EU capitalized on the new opportuni-
ties offered by the initiative. Among oth-
ers, China wishes to broaden policy
coordination and advance cooperation
consensus through an institutionalized
dialogue mechanism, more closely col-

laborate on concrete projects within the
China-EU Connectivity Platform, work
closely to explore ways and means of
joint financing and initiating projects,
and deepen China-EU legal affairs dia-
logue with a view to creating a favorable
environment for business.

We are more than ready to add new
dimensions to our cooperation with the
EU. For instance, given that China is
transforming its economic development
model based on innovation, and innova-
tion remains essential to European inte-
gration, we should make deepening
cooperation in science and technology
and innovation our top priority.

And fourth, we hope that at the Bei-
jing forum and the 19th China-EU Sum-
mit, China and the EU will send out this
positive message: as the two parties
vital to the maintenance of world peace
and promotion of common develop-
ment and shared destiny, China and the
EU will shoulder the shared responsibil-
ity of promoting the construction of a
more fair, reasonable and balanced
global governance system based on
openness, inclusiveness and win-win
cooperation, and that together we can
make a difference.

The author is the head of the Chinese
Mission to the European Union.

Robert Lawrence Kuhn

Initiative marks transition of grand vision

he Belt and Road
Forum for Interna-
tional Cooperation
marks a transition of
high symbolism in President
Xi Jinping’s grand vision fora
new era of win-win globaliza-
tion. The core idea is to struc-
ture, finance and build critical
infrastructure in developing
economies, as well as diversify
and expand the Chinese econo-
my, which needs restructuring.

This is the fourth Belt and
Road forum I will attend.

Xi announced the Silk Road
Economic Belt as a “grand
cause benefiting people in
regional countries along the
ancient route” in Kazakhstan in
September 2013. In June 2014, I was
asked to articulate the vision at the first
Belt and Road forum in Urumai, North-
west China's Xinjiang Uygur autono-
mous region. I described five categories:
history, culture, trade, mutual develop-
ment and peaceful development.

The second forum was in Quanzhou,
Southeast China’s Fujian province, in
February 2015. It enlarged the vision to
include the 21st Century Maritime Silk
Road, engaging Southeast Asia, South
Asia, the Middle East and East Africa.

The third forum was held in Xi’an,
Northwest China’s Shaanxi province, in
September 2016, with the theme “Shared
Memory, Common Development”

To comprehend Xi’s Belt and Road Ini-
tiative, one must appreciate globaliza-
tion, which is founded on the perennial
law of comparative economic advantage

but which is suffering discontent due to
its differential impact on workers in
Western countries. In a reversal of histor-
ic proportions, China now champions
globalization, while the United States is
now conflicted with “America First” pro-
tectionism.

China’s developmental miracle is
founded on globalization, as Chinese
workers made China the low-cost manu-
facturing center of the world.

But China’s old model no longer works
— for one, workers must be paid higher
salaries to rebalance severe socio-eco-
nomic imbalances. China must develop
new modes of globalization, leveraging
its expertise and experience, especially in

LI MIN / CHINA DAILY

infrastructure construction, which is just
what the developing economies need for
their development.

The initiative is to expand links
between Asia, Africa and Europe, and
thus reduce imbalances in national
development and promote global eco-
nomic growth. It focuses on projects such
as high-speed railways. Development
comes first, China believes; nothing good
can happen without economic growth.

The Beijing forum seeks consensus on
major cross-regional projects, especially
networks of roads, railways and shipping.

At the Xi’an forum, I chaired a session
(on the media), which was held at pre-
cisely the same time as the first debate

between US presidential candi-
dates Donald Trump and Hillary
Clinton.

“One hundred years from
today,’ I began, “when the history
of our times is written, our forum
on the Belt and Road (Initiative)
will carry more significance than
the Trump-Clinton debate.”

I was joking in one sense, but
notin another. Why is the initia-
tive so significant?

From the global perspective,
poverty, under-development, and
vast inequalities are deep, seem-
ingly intractable problems — and
economic development, cata-
lyzed by infrastructure construc-
tion, is an essential part of the
solutions.

From China’s perspective, after
decades of remarkable growth, eco-
nomic 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 ini-
tiative, but only if formulated synergisti-
cally and implemented assiduously.
There are substantial challenges, of
course — economic, financial, structural,
political instability, nationalism, terror-
ism 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, polit-
icalfeconomics commentator, and inter-
national corporate strategist.

Sultan Ahmed Al Jaber

Building a bridge to our common future

he Belt and Road Forum for
International Cooperation in
Beijing is a milestone in the
development of China’s Belt
and Road Initiative, a historic effort to
transform the economies along the two
routes, strengthen links between them
and better connect them to the rest of
the world. The United Arab Emirates
strongly supports the initiative, which
will foster economic growth and securi-
ty both regionally and globally.
Substantial progress has been made
since President Xi Jinping announced
the initiative in 2013. During this period,
China has directly invested more than
$50 billion and helped establish the
Asian Infrastructure Investment Bank —
anew multilateral institution designed
to finance vital public works in Asia’s
emerging economies. The UAE is a
founding member of the AITB and com-
mitted to its central mission of bringing
the Belt and Road Initiative vision to life.
China’s approach to economic devel-

opment mirrors our own. We share the
same core beliefs in the essential con-
nection between trade, peace and pros-
perity. For both our peoples, these beliefs
go beyond stated principles to concrete
actions, best expressed by the strength
of our bilateral trade, which has grown
dramatically — almost 800 times, in the
three decades since we established for-
mal relations — from $63 million in
1984: to more than $50 billion in 2016.
Our cultural and economic ties with
China go back centuries. But today’s
trade spans multiple sectors, with one of
the most important being energy.
Recognizing that energy demand in
the economies along the Belt and Road
routes will grow by 50 percent by 2040,
both China and the UAE have made stra-
tegic co-investment in this sector. China
National Petroleum Corp and China
Energy recently took a minority share in
the UAE's onshore oil reserves, beginning
a partnership with the Abu Dhabi
National Oil Company that will secure oil

supplies for decades and ease market
access for essential and higher value
products throughout the region.

ADNOC’s petrochemical company,
Borouge, is celebrating seven years of
operations in China during which the
trading volume has quadrupled. Bor-
ouge is gearing up for market growth
both within China and in the economies
along the Belt and Road routes, where
demand for petrochemicals and plastic,
including essential utility piping and
cable insulation, is expected to more
than double by 2040.

At the pivot point between Asia,
Europe and Africa, the UAE is ideally
located as a logistical hub that can facili-
tate trade to and from the economies
along the Belt and Road routes. DP
World’s Jebel Ali Port is the largest in the
Middle East and Abu Dhabi Ports Com-
pany is one of the fastest growing. Last
year, Abu Dhabi Ports Company part-
nered with China’s shipping giant COS-
CO to build a new terminal at Khalifa

Port that will double cargo capacity, fur-
ther expanding the flow of commerce
among the economies along the Belt
and Road routes and the world’s other
major trading blocs. As many economies
along the two routes look to extend their
footprint in Africa, the UAE represents a
natural nexus for developing mutually
beneficial trading links.

The 65 economies along the two routes
account for 30 percent of global GDP. By
2040, they will account for almost two-
thirds, thereby becoming the world’s
most significant driver of economic
growth. Making the right investments
now will ensure this growth remains sus-
tainable and more evenly spread.

In short, the success of the Belt and
Road Initiative can provide the founda-
tion for a more secure, prosperous and
progressive future for the world.

The author is a minister of state in the
United Arab Emirates and ADNOC
Group CEO.

HOUSE_OVERSIGHT_025115
"
IMAGES-007-HOUSE_OVERSIGHT_023247.txt,"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 've 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 hii,

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 -""
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.

isuggest 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
"
IMAGES-003-HOUSE_OVERSIGHT_015993.txt,"Creativity 303

Later in his career he came to believe machines would become
intelligent and this sort of intuitive thinking could be effectively
performed by a computer. As you know, I don’t agree with his later
viewpoint.

Another person who has thought long and hard about creativity is
John Cleese, the comedian and actor. He describes the process wonderfully
in a number of talks which you can find on YouTube. He finds a lot of his
creativity emanates from his unconscious rather than conscious thought
processes. To optimize this he needs large uninterrupted blocks of quiet

John Cleese on Creativity

HOUSE_OVERSIGHT_015993
"
IMAGES-006-HOUSE_OVERSIGHT_021019.txt,"Focus on Revenues —
Drive Sustainable Economic Growth + Change Tax Policies

Focus on
Revenues

Invest in Technology / Infrastructure / Education
Drive Sustainable
Economic Increase / Improve Employment
SL Improve Competitiveness

Consider Review Tax Rates

Changing MEE Reduce Subsidies / Tax Expenditures*/
eee Broaden Tax Base

Note: *Tax subsidies / expenditures are losses to the U.S. Treasury from granting certain deductions, exemptions, or credits (such
i as those on mortgage interest payments and employer-sponsored health insurance payments) to specific categories of taxpayers.
www.kpcb.com

USA Inc. | What Might a Turnaround Expert Consider? 355

GDP Growth =
Biggest Driver of Federal Revenue Growth...& 85% Correlation
1940 — 2009 Historical Correlation Between USA Real GDP Y/Y 2010E — 2019E
& Real Federal Receipts Y/Y = 85% If Real Real Federal
60% | © Real GDP Y/Y vs. Real Federal Receipts Y/Y 7 GDP Revenue
; ; YY is Could Grow...
— -Linear Trendline (y=2.77x-0.0438, R42=0.73) 4
” ee a 7 5% 7%
= 7 4 5
= 40% - Z 7 a 3 2
2 7 ; 2 0
7 7
3 r 7 . 1 -2
ac Y 7 0 -4
@
Z 20% - 7 -1 -7
te eo 4 J 4
we P ¥ 2 9
a © 7 -3 -11
w e e
¥ e -4, -13
38% ja
5% © one 5% 40% 15% 20% 25%
e
Os € Current Consensus
a 7 / GDP Forecasts
7 Real GDP Y/Y (%)
7 ®
-20% —
bs Data source: White House Office of Management & Budget (1940 — 2009).
(@E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 356

HOUSE_OVERSIGHT_021019
"
IMAGES-009-HOUSE_OVERSIGHT_028078.txt,"nearly a thousand miles away from us, he tried to divert attention from US-led
international condemnation of his invasion by threatening Israel. He said “all
issues of occupation” were on the table — the West Bank and Gaza, the Golan
Heights, and Lebanon — and vowed to “let our fire eat half of Israel” in a future
war. And we could not assume this was mere rhetoric. Iraq had an arsenal of
Soviet-made ballistic missiles. Called Scuds, they were not always accurate at
long range. But they could reach Israeli towns and cities, and could carry not
just conventional explosives but chemical warheads. Moreover, Saddam had
used chemical weapons: during the Iran-Iraq war, and to kill thousands of his
own restive Kurdish population in the town of Halabja in the spring of 1988.

Even the prospect of American military action seemed not to faze him.
Hours into the invasion, he moved an armored force toward Kuwait’s border
with Saudi Arabia, a key US regional ally, immediately prompting the President
George Bush’s administration to go beyond mere verbal condemnation. With
Saudi agreement, Washington dispatched a squadron of F-15s to the kingdom —
the first step in what would become a huge American land, sea and air force to
face down Saddam and force him out of Kuwait.

Given the credible threat of Scud missile attacks on Israel, Dan immediately
assigned me to coordinate our assessment and evaluation of what Saddam was
likely to do in the event of a US-led attack, and what defense arrangements or
Israeli military response would be necessary. We knew we’d be under strong
pressure from the Americans to stay out of any war. Israeli involvement would
be a political gift to Saddam, allowing him to convert a conflict over his
aggression against an Arab neighbor into a “defense” against “Israeli
occupation.” But we had a primary responsibility to protect our citizens.

I was now working with a new Israeli government. After Shimon Peres tried
and failed to topple the unity coalition in the spring of 1990, Shamir had formed
a Likud-led government shorn of both Peres and Rabin. Misha Arens was again
Minister of Defense. I began preparing regular, fortnightly reports for him, Dan
and Prime Minister Shamir. Within days of the invasion, I produced my initial
assessment. The bottom line was that we had to assume there would be a war. It
was impossible to imagine the Americans would commit hundreds of thousands
of troops and simply bring them home again, unless Saddam succumbed and
retreated. I was equally certain Saddam would use his Scuds against us. He’d
figure the benefits of trying to bring Israel into the conflict far outweighed the
risk of retaliation. But I was “nearly 100 per-cent sure” he wouldn’t use
chemical warheads, since that would almost guarantee an Israeli military

230
HOUSE_OVERSIGHT_028078
"
IMAGES-012-HOUSE_OVERSIGHT_032722.txt,"From: Weingarten, Reid

Sent: 1/16/2018 8:36:01 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
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 Pog 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, Wo 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:

megann and memasters 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

HOUSE_OVERSIGHT_032722
"
IMAGES-011-HOUSE_OVERSIGHT_031093.txt,"The fellas in this picture . They never actually met face to face. What fellas? We don't see

The guy on the left? For all you know he's Santa Claus.
And the guy on the right... well, he's the Easter Bunny! That's all you need to know.

Go to your eye doctor...your eyes are lying to you! Ca'pish?

Remember Jimmy Hoffa? He knew too much and now, well, now no one knows where
he is.

Is the big picture clear? Not these pictures! Remember, You've already forgot them...

HOUSE_OVERSIGHT_031093
"
IMAGES-002-HOUSE_OVERSIGHT_013773.txt,"Mandell, A.J., Russo, P.V. (1981): Striatal tyrosine hydroxylase:multiple
conformational kinetic oscillators and product concentration frequencies. J.
Neuroscience 1:380-389

Mandell, A.J., Russo, P.V., Knapp, S. (1982) Strange stability in hierarchically
coupled neuropsychobiological systems. In (ed. Haken, H.) Evolution of Order and

Chaos. Springer-Verlag. Berlin. pp 270-286

Mandell, A.J., Selz, K.A. (1991) Period adding, hierarchical protein modes and
electroencephalographically defined states of consciousness. In (eds. Vohra, S.,
Spano, M., Shlesinger, M.F., Pecora, L., Ditto, W. ) Proc. 42 Experimental Chaos
Conference. World Scientific. Hong Kong

Mandell, A.J., Selz, K.A. (1992) Dynamical systems in psychiatry: now what? Biol.
Psychiat. 32:299-301.

Mandell, A.J., Selz, K.A. (1993): Brain stem neuronal noise and neocortical
“resonance.” J. Stat. Phys. 70:355-371

Mandell, A.J., Selz, K.A. (1994) Resonance, synchroniation and lexical redundancy

in the expanding dynamics of brain stem neurons. SPIE Proc 2036:86-99

Mandell, A.J. and Selz, K.A. (1994) Resonance, synchronization and lexical
redundancy in the expanding dynamics of brain stem neurons. Chaos in Medicine
and Biology SPIE Proc: 2036:86-99

Mandell, A.J., Selz, K.A. (1995) Nonlinear dynamical patterns as personality theory
for neurobiology and psychiatry. Psychiatry 58:371-390

273

HOUSE_OVERSIGHT_013773
"
IMAGES-010-HOUSE_OVERSIGHT_029295.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 8/19/2018 2:58:17 PM
To: Lesley Groff
Subject: Fwd: Kuhn - Radical Breakthroughs

a Forwarded message ----------
From: Robert Kuhn qa
Date: Sun, Aug 19, 2018 at 10:39 AM
Subject: Re: Kuhn - Radical Breakthroughs
To: ""jeffrey E."" <jeevacation@gmail.com>

If return, let me know; if not, I’m back Sept 25 - Oct. 14.

On Aug 19, 2018, at 7:46 AM, jeffrey E. <jeevacation@gmail.com> wrote:
I might return , to ny this week not sure yet

On Sat, Aug 18, 2018 at 11:53 PM, Robert Kuhn 4 =wrote:
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

HOUSE_OVERSIGHT_029295
"
TEXT-001-HOUSE_OVERSIGHT_030745.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 1/10/2015 2:36:20 PM 
To: G Maxwell [GMax1@ellmax.com] 
Subject: Re: 
ok 
On Sat, Jan 10, 2015 at 10:33 AM, G Maxwell <GMaxlgellmax.com> wrote: 
I need it written out in full. 
THE TERRAMAR PROJECT 
FACEBOOK 
TWITTER 
G+ 
PINTEREST 
INSTAGRAM 
PLEDGE 
THE DAILY CATCH 
From: Jeffrey E. 
Sent: Saturday, 10 January 2015 09:31 
To: G Maxwell 
Subject: Re: 
i am on the phone with other attny getting you an answer. 
On Sat, Jan 10, 2015 at 10:25 AM, G Maxwell <GMaxlgellmax.com> wrote: 
I have to distance myself from you in statement too 
And they need me to say I was not aware of massage w/andrew in my house. These thing they have to stay 
along w/meeting and rebutting those allegations. I needs it asap 
THE TERRAMAR PROJECT 
FACEBOOK 
TWITTER 
G+ 
PINTEREST 
INSTAGRAM 
PLEDGE 
THE DAILY CATCH 
From: Jeffrey E. 
Sent: Saturday, 10 January 2015 09:18 
To: G Maxwell 
Subject: Re: 
yes„ 
On Sat, Jan 10, 2015 at 10:15 AM, G Maxwell <GMaxlgellmax.com> wrote: 
Can my lawyer talk to a lawyer? 
HOUSE OVERSIGHT 030745 
THE TERRAMAR PROJECT 
FACEBOOK 
TWITTER 
G+ 
PINTEREST 
INSTAGRAM 
PLEDGE 
THE DAILY CATCH 
From: jeffrey E. 
Sent: Saturday, 10 January 2015 09:12 
To: G Maxwell 
Subject: 
inital respone, too many unanswerd question raised, realtionship with jeffrey/, ? you and clinton? her and 
andrew? whats the deal here? why is she there . this is who i am, this how i know jeffrey, employed from 
„ to.. . I was aware that jeffrey hired masag people, I sometine hired them, she was one of 
them. recolletion empllyed, firmative. . what. I am writing to writin to respond to the alleagtinoin that 
have been made whcich are categoricly untrue. . during hte time i met mr derhsowiz , 
in general inviting a subpeona. ? you will never answer questions to the press satisfaction they will not 
be persuaded. 
the --
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 030746 
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 030747 
"
IMAGES-003-HOUSE_OVERSIGHT_016242.txt,"only until it runs out of fuel. Similarly, the exponential advances in Moore’s Law are
starting to run into limits imposed by basic physics. The clock speed of computers
maxed out at a few gigahertz a decade and a half ago, simply because the chips were
starting to melt. The miniaturization of transistors is already running into quantum-
mechanical problems due to tunneling and leakage currents. Eventually, the various
exponential improvements in memory and processing driven by Moore’s Law will
grind to a halt. A few more decades, however, will probably be time enough for the
raw information-processing power of computers to match that of brains—at least by
the crude measures of number of bits and number of bit-flips per second.

Human brains are intricately constructed, the process of millions of years of
natural selection. In Wiener’s time, our understanding of the architecture of the brain
was rudimentary and simplistic. Since then, increasingly sensitive instrumentation and
imaging techniques have shown our brains to be far more varied in structure and
complex in function than Wiener could have imagined. I recently asked Tomaso
Poggio, one of the pioneers of modern neuroscience, whether he was worried that
computers, with their rapidly increasing processing power, would soon emulate the
functioning of the human brain. “Not a chance,” he replied.

The recent advances in deep learning and neuromorphic computation are very
good at reproducing a particular aspect of human intelligence focused on the operation
of the brain’s cortex, where patterns are processed and recognized. These advances
have enabled a computer to beat the world champion not just of chess but of Go, an
impressive feat, but they’re far short of enabling a computerized robot to tidy a room.
(In fact, robots with anything approaching human capability in a broad range of
flexible movements are still far away—search “robots falling down.” Robots are good
at making precision welds on assembly lines, but they still can’t tie their own shoes.)

Raw information-processing power does not mean sophisticated information-
processing power. While computer power has advanced exponentially, the programs
by which computers operate have often failed to advance at all. One of the primary
responses of software companies to increased processing power is to add “useful”
features which often make the software harder to use. Microsoft Word reached its
apex in 1995 and has been slowly sinking under the weight of added features ever
since. Once Moore’s Law starts slowing down, software developers will be confronted
with hard choices between efficiency, speed, and functionality.

A major fear of the singulariteers is that as computers become more involved in
designing their own software they’! rapidly bootstrap themselves into achieving
superhuman computational ability. But the evidence of machine learning points in the
opposite direction. As machines become more powerful and capable of learning, they
learn more and more as human beings do—from multiple examples, often under the
supervision of human and machine teachers. Education is as hard and slow for
computers as it is for teenagers. Consequently, systems based on deep learning are
becoming more rather than less human. The skills they bring to learning are not
“better than” but “complementary to” human learning: Computer learning systems can
identify patterns that humans cannot—and vice versa. The world’s best chess players
are neither computers nor humans but humans working together with computers.
Cyberspace is indeed inhabited by harmful programs, but these primarily take the form
of malware—viruses notable for their malign mindlessness, not for their

22

HOUSE_OVERSIGHT_016242
"
IMAGES-002-HOUSE_OVERSIGHT_013015.txt,"5.3 An Architecture Diagram for Human-Like General Intelligence 99

PERCEPTION/ ACTION
SUBSYSTEMS

Fig. 5.2: Architecture of Working Memory and Reactive Processing, closely modeled on the
LIDA architecture

Figure 5.3, modeling motivation and action selection, is a lightly modified version of the
Psi diagram from Joscha Bach’s book Principles of Synthetic Intelligence [Bac09|. The main
difference from Psi is that in the integrative diagram the Psi motivated action framework is
embedded in a larger, more complex cognitive model. Psi comes with its own theory of working
and long-term memory, which is related to but different from the one given in the integrative
diagram — it views the multiple memory types distinguished in the integrative diagram as
emergent from a common memory substrate. Psi comes with its own theory of perception and
action, which seems broadly consistent with the deep learning approach incorporated in the
integrative diagram. Psi’s handling of working memory lacks the detailed, explicit workflow of
LIDA, though it seems broadly conceptually consistent with LIDA.

In Figure 5.3, the box labeled ""Other portions of working memory"" is labeled ""Protocol and
situation memory"" in the original Psi diagram. The Perception, Action Execution and Action
Selection boxes have fairly similar semantics to the similarly labeled boxes in the LIDA-like
Figure 5.2, so that these diagrams may be viewed as overlapping. The LIDA model doesn’t
explain action selection and planning in as much detail as Psi, so the Psi-like Figure 5.3 could
be viewed as an elaboration of the action-selection portion of the LIDA-like Figure 5.2. In
Psi, reinforcement is considered as part of the learning process involved in action selection and
planning; in Figure 5.3 an explicit ""reinforcement box"" has been added to the original Psi
diagram, to emphasize this.

Figure 5.4, modeling long-term memory and deliberative processing, is derived from our own
prior work studying the ""cognitive synergy"" between different cognitive processes associated
with different types of memory. The division into types of memory is fairly standard. Declarative,
procedural, episodic and sensorimotor memory are routinely distinguished; we like to distinguish
attentional memory and intentional (goal) memory as well, and view these as the interface
between long-term memory and the mind’s global control systems. One focus of our AGI design
work has been on designing learning algorithms, corresponding to these various types of memory,

HOUSE_OVERSIGHT_013015
"
IMAGES-005-HOUSE_OVERSIGHT_019058.txt,"FD-302a (Rev. 10-6-95)

31E-MM-108062

Continuation of FD-302 of ,On 11/27/2006 Page _4_

HOUSE_OVERSIGHT 019058
"
IMAGES-010-HOUSE_OVERSIGHT_028835.txt,"InsightsPod

Projected Balance Sheet

Cash

Accounts Receivable
Inventory

Other Current Assets

Total Current Assets

Long-Term Assets
Accumulated Depreciation

Total Long-Term Assets
Total Assets

Accounts Payable

Income Taxes Payable
Sales Taxes Payable
Short-Term Debt

Prepaid Revenue

Total Current Liabilities

Long-Term Debt
Total Liabilities

Paid-in Capital
Retained Earnings
Earnings

Total Owner's Equity

Total Liabilities & Equity

FY2017
$652,517
$0

$652,517

$652,517

$0
$0

$0

$0

$800,000

($147,483)
$652,517

$652,517

FY2018
$1,698,897
so

$1,698,897

$1,698,897

so
$19,779

$19,779

$19,779

$1,600,000
($147,483)
$226,601
$1,679,118

$1,698,897

FY2019
$3,164,162
$0

$3,164,162

$3,164,162

$0
$137,009

$137,009

$137,009

$2,400,000
$79,118
$548,035
$3,027,153

$3,164,162

| Page 18 |

CONFIDENTIAL - DO NOT DISSEMINATE. This business plan contains confidential, trade-secret
information and is shared only with the understanding that you will not share its contents or ideas with

third parties without the express written consent of the plan author.

HOUSE_OVERSIGHT_028835
"
IMAGES-006-HOUSE_OVERSIGHT_022276.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
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_022276
"
IMAGES-004-HOUSE_OVERSIGHT_016722.txt,"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 re
iler's Name

Donald J. Trump

art 6: Other Assets and Income _

quired information.

Page Number
24 of 42

[JP MORGAN CHASE - CHECKING AND SAVINGS
CAPITAL ONE BANK - CHECKING AND SAVINGS 9S EE ~ ee nee | interest} dicciaiinanaisicaad

SIGNATURE BANK - CHECKING $100,001 - $250,000 $1,001 - $2,500

BANK UNITED, NA- MONEY MARKET HOOD ~ SANUS WiLGOt «62.600

CG $15,001 - $50,000 None (or less than $201)

6 | $100,001 - $250,000 , None (or less than $201)

7 WMTMF LLC (US BANK CASH ACCOUNT) $50,001 - $100,000 None (or less than $201)
MBWT LLC

F

IRST REPUBLIC BANK - CHECKING

INVESTMENT IN GOLD

The Fred C. Trump December 16, 1976 Trust- F/B/O
Donald J. Trump

JP MORGAN CHASE - SAVINGS ACCOUNT ;

$1,000,001 - $5,000,000 $2,501 - $5,000
ECO TEK 360 INC
(ffk/a GLOBAL FASHION TECHNOLOGIES) Fit - S18 iid Manes (er lane Cae S21)

CAPITAL ONE BANK - CHECKING AND SAVINGS ;

$25,000,001 - $50,000,000 $100,001 - $1,000,000

JP MORGAN CLEARING CORP - BROKERAGE ACCOUNT
HOLDINGS

2 | PROFESSIONAL BANK - MONEY MARKET

SIGNATURE BANK - MONEY MARKET

$5,000,001 - $25,000,000 $50,001 - $100,000
$5,000,001 - $25,000,000 $2,501 - $5,000

HOUSE_OVERSIGHT_016722
"
IMAGES-008-HOUSE_OVERSIGHT_025673.txt,"Investment oldman
Sachs
Management

Why Have Cryptocurrencies Rallied So Much? Division

1. Bitcoin Supply Over Time (Million Tokens) 2. Currency Composition of Bitcoin Purchase Volume

Euro = Polish Zloty m British Pound

25 5 100% RUS Dollar m Japanese Yen © South Korean Won m Chinese Renminbi
‘yd |! ' i
90% i ""I
ia | I i ]
PMA ul |
a4 80% f
A Current Supply ans
= 45 -
= 60%
2
2
5 50% -
”
i=
o 40%
2
i)
30%
5 4
20%
10%
0
BYTSRASSIFSSSSELISSISSSSILLSARIB 0% | , , ,
SexgSsRRGRRKRKSBBSRRRBKHRaAtSAtSnnan 2011 2012 2013 2014 2015 2016 2017

= In addition to speculation, which has been the biggest driver of cryptocurrency appreciation, other drivers include:

= Perceived Scarcity: Bitcoin’s 21 million token cap is expected to be reached in 2140 (16.5 million today). Many of the
over 2,000 other cryptocurrencies, however, do not have a capped supply. Further, while unlikely, bitcoin’s token cap
could be raised if a consensus of programmers decided so.

= Desired Safe-haven: Increased global participation reflects desire for an asset independent from governments or central
banks (“digital gold”). Many governments from which investors have sought diversification, however, have recently
banned domestic crypto-exchanges.

10
HOUSE_OVERSIGHT_025673

Source: Investment Strategy Group, Bloomberg, Cryptocompare.com.
"
IMAGES-007-HOUSE_OVERSIGHT_023521.txt,"Article 2.

NYT

Parties See Obama’s Israel Policy as
Wedge for 2012

Jackie Calmes and Helene Cooper

May 25, 2011 — Few issues in American politics are as bipartisan as
support for Israel. Yet the question of whether President Obama is
supportive enough is behind some of the most partisan maneuvering
since the Middle East ally was born six decades ago, and that angling
has potential ramifications for the 2012 elections.

The visit of Prime Minister Benjamin Netanyahu of Israel in the past
week captured just how aggressively Republicans are stoking doubts
about Mr. Obama. Republican Congressional leaders and presidential
aspirants lavished praise on Mr. Netanyahu as quickly as they had
condemned Mr. Obama for proposing that Israel’s 1967 borders, with
mutually agreed land swaps, should be a basis for negotiating peace
with the Palestinians.

Republicans do not suggest that they can soon break the Democratic
Party’s long hold on the loyalty of Jewish-American voters; Mr.
Obama got nearly 8 of 10 such voters in 2008. But what Republicans
do see is the potential in 2012 to diminish the millions of dollars,
volunteer activism and ultimately the votes that Mr. Obama and his
party typically get from American Jews — support that is
disproportionate to their numbers.

While Jewish Americans are just 2 percent of the electorate
nationally, they are “strategically concentrated,” as Mark Mellman, a
Democratic pollster, put it, in several swing states that are critical in
presidential elections. Those states include Florida — which in 2000

HOUSE_OVERSIGHT_023521
"
IMAGES-009-HOUSE_OVERSIGHT_026733.txt,"And there’s more urbanization. Even by 2030 Lagos, San Paulo and Delhi will have
populations above 30 million. To prevent megacities becoming turbulent dystopias
will surely be a major challenge to governance.

Population growth seems currently under-discussed. That is maybe because doom-
laden forecasts in the 1970s, by the Club of Rome, Paul Erlich and others, have
proved off the mark. Up till now, food production has more than kept pace — famines
stem from wars or mal-distribution, not overall shortage. And it’s deemed by some a
taboo subject -- tainted by association with eugenics in the 1920s and 30s, with Indian
policies under Indira Gandhi, and more recently with China's hard-line one-child

policy.

Can the Earth ‘carry’ 9 billion people? There seems no need for gloom or panic on
this front... Improved agriculture — low-till, water-conserving, and perhaps involving
GM crops could feed that number by mid-century. The buzz-phrase is ‘sustainable
intensification’.

But lifestyle changes are needed. The world couldn't sustain even its present
population if everyone lived like Americans do today— using as much energy and
eating as much beef.

Population trends beyond 2050 are harder to predict. They will depend on what
people as yet unborn decide about the number and spacing of their children.
Enhanced education and empowerment of women -- surely a benign priority in
itself -- reduces fertility rates.

But the demographic transition hasn’t reached parts of India and Sub-Saharan Africa.
If families in Africa remain large,, then according to the UN that continent’s
population could double again by 2100, to 4 billion, thereby raising the global
population to 11 billion. Nigeria alone would by then have as big a population as
Europe and North America combined, and almost half of all the world’s children
would be in Africa.

Optimists remind us that each extra mouth brings also two hands and a brain.
Nonetheless the higher the population becomes, the greater will be all pressures on
resources, especially if the developing world narrows its gap with the developed
world in its per capita consumption. So we must surely hope that the global figure
declines rather than rises after 2050.

Moreover, if humanity’s collective impact on nature pushes too hard against what
Johan Rockstrom calls ‘planetary boundaries’, the resultant ‘ecological shock’ could

HOUSE_OVERSIGHT_026733
"
IMAGES-008-HOUSE_OVERSIGHT_025698.txt,"Investment Soeaian
achs
Management

Important Information Division

Tax Information. Goldman Sachs does not provide legal, tax or accounting advice. You should obtain your own independent tax advice based on your particular
circumstances.

No Distribution; No Offer or Solicitation. This material may not, without Goldman Sachs' prior written consent, be (i) copied, photocopied or duplicated in any form, by any
means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient. This material is not an offer or solicitation with respect to
the purchase or sale of a security in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or
solicitation. This material is a solicitation of derivatives business generally, only for the purposes of, and to the extent it would otherwise be subject to, §§ 1.71 and 23.605 of
the U.S. Commodity Exchange Act.

Thank you for reviewing this presentation which is intended to discuss general market activity, industry or sector trends, or other broad-based economic, market or political
conditions. It should not be construed as research. Any reference to a specific company or security is for illustrative purposes and does not constitute a recommendation to
buy, sell, hold or directly invest in the company or its securities.

© 2017 Goldman Sachs. All rights reserved. 35

HOUSE_OVERSIGHT_025698
"
IMAGES-004-HOUSE_OVERSIGHT_016911.txt,"David Kaiser is a physicist atypically interested in the intersection of his science with
politics and culture, about which he has written widely.

In the first meeting (in Washington, Connecticut) that preceded the crafting of this
book, he commented on the change in how “information” is viewed since Wiener’s time:
the military-industrial, Cold War era. Back then, Wiener compared information,
metaphorically, to entropy, in that it could not be conserved—i.e., monopolized; thus, he
argued, our atomic secrets and other such classified matters would not remain secrets for
long. Today, whereas (as Wiener might have expected) information, fake or not, is
leaking all over the other Washington, information in the economic world has indeed
been stockpiled, commodified, and monetized.

This lockdown, David said, was “not all good, not all bad’”—depending, I guess,
on whether you’re sick of being pestered by ads for socks or European river cruises
popping up in your browser minutes after you’ve bought them.

To say nothing of information’s proliferation. David complained to the rest of us
attending the meeting that in Wiener’s time, physicists could “take the entire Physical
Review. /t would sit comfortably in front of us in a manageable pile. Now we’re awash
in fifty thousand open-source journals per minute,” full of god-knows-what. Neither of
these developments would Wiener have anticipated, said David, prompting him to ask,

“Do we need a new set of guiding metaphors?”

108

HOUSE_OVERSIGHT_016911
"
IMAGES-001-HOUSE_OVERSIGHT_012158.txt,"KIRKLAND & ELLIS LLP
don’t feel comfortable with. And I said okay, but I willingly took it off.”

See Tab 6, a.

© MEN also stated “[slome girls didn’t want to go topless and Jeffrey
didn’t mind.” See Tab 6,

e Mr. Epstein did not engage in luring.

o Mr. Epstein’s message books show that several masseuses would regularly
call Mr. Epstein’s assistants, without any prompting by Mr. Epstein or his
assistants, asking to visit Mr. Epstein at his home.

o MRE stated “a lot of gitls begged me to bring them back [to Mr.
Epstein’s house].”

e There was no alcohol or drugs involved, a fact that is not in dispute.
¢ Mr. Epstein has no prior criminal history, a fact that is not in dispute.
¢ These women do not see themselves as victims.

© MR indicated under oath that the FBI attempted to persuade her that
she was in fact a “victim” of federal crimes when she herself repeatedly
confirmed that she was not. See Tab 14. p. 9-12 and Tab 15,

BE. B, p. 7.

Conclusion

Jeffrey Epstein, a self-made businessman with no prior criminal history, should not be
prosecuted federally for conduct that amounts to, the solicitation of prostitution. A federal
prosecution based on these facts would be an unprecedented exercise of federal power, a misuse
of federal resources, and a prosecution that would carry with it the appearance, if not the reality,
of unwarranted selectivity given the incongruity between the facts as developed in this matter
and the factual paradigms for all other reported federal prosecutions under each of the three
statutes being considered. It would require the pursuit of a novel legal theory never before
sanctioned by federal law—and that indeed is inconsistent with each of the statutes prosecutors
have identified. Accordingly, we respectfully request that you direct the U.S. Attomey’s Office
for the Southern District of Florida to discontinue its involvement in this matter, and return
responsibility for this case to the State of Florida.

17

HOUSE_OVERSIGHT_012158
"
IMAGES-008-HOUSE_OVERSIGHT_025840.txt,"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

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 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_025840
"
IMAGES-006-HOUSE_OVERSIGHT_021794.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 2/26/2010 6:41:25 PM
To: Robert D. Critton \ Jessica Cadwell Po
Subject: Fwd: Fw: Epstein News Articles

Attachments: Epstein combined articles.pdf

a Forwarded message ----------

From: Jeffrey Epstein <jeevacation@gmail.com>
Date: Fri, Feb 26, 2010 at 10:01 AM

Subject: Fwd: Fw: Epstein News Articles

To: ""Alan M. Dershowitz"" i, Martin Weinbcro ay

From:
Date: Wed, Feb 24, 2010 at 5:53 AM
Subject: Fw: Epstein News Articles

To: jeevacation@gmail.com

To:

From: Michael Reiter/PalmBeach
Date: 08/12/2008 09:33PM
Subject: Epstein News Articles

(See attached file: Epstein combined articles. pdf)
Joyce,

I am looking forward to meeting with you on Wednesday. Please find below (and attached as a PDF file),
some background information for your reference. Thanks for agreeing to have this discussion.

Regards,

Mike

Palm Beach Post Editorial #1

He was over 50. And they were girls

By Elisa Cramer

HASH(0x5fa474)

Friday, August 04, 2006

If the women whom Palm Beach police say a part-time town resident invited to his home
and paid for sex acts were, in fact, women, the solicitation charge against Jeffrey Epstein
might feel more sufficient. But, according to police records, they weren't. He was over

50. And they were girls. 14. 15.16.17-year-old girls. That should count for something -

HOUSE_OVERSIGHT_021794
"
IMAGES-009-HOUSE_OVERSIGHT_026900.txt,"Unsteady Undertow

As market observers attempt to explain the recent drop in US equities, the risks of geopolitical factors
have garnered considerable attention. Potential US retaliation over the recent disappearance of a
Saudi journalist has only added fuel to the fire of worries given the risk that oil exports could be used
as a political weapon in a world with tighter oil supply thanks to impending US sanctions on Iran.

As we review the geopolitical developments of 2018, it is clear that some of the risks have abated
while others have increased. With the exception of a significant spike in oil prices due to the impact of
sanctions on Iran or any escalation in US-Saudi tensions, we believe that the net impact of these
shifts is not material enough to derail the US economic expansion or bull market.

Risks that have abated

Mexico: the election of the left-of-center populist president (Andrés Manuel Lopes Obrador referred
to as AMLO) has reduced fear of a reversal of recent reforms. While concerns about fiscal profligacy
and reverting to a nationalist energy policy that reduces oil production may reappear, AMLO does not
take office until the end of the year.

Brazil: The strong showing of Jair Bolsonaro, a law-and-order former army captain, in the first round
of elections and the latest data that points to a 75% probability of Bolsonaro becoming the next
president of Brazil has provided a boost to the Brazilian real. His current standing has substantially
reduced the election of another left-wing worker’s party candidate who would keep the status quo in
Brazil.

NAFTA: The agreement on a revised NAFTA deal between the US, Canada, and Mexico on
September 30th meaningfully reduced the risk of the US withdrawal from NAFTA. While the new
agreement, US-Mexico-Canada Agreement (USMCA), has not been ratified by the Mexican and
Canadian national parliaments nor by the US congress, and a divided congress after the mid-term
elections may lead to some uncertainty, we believe it is likely to be ratified.

US-EU Trade Friction: Tension between the US and European Union eased significantly after a July
2018 deal between European Commission President Juncker and President Trump to “work together
toward zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods”. The
coast is not totally clear given the threat of auto tariffs, but we do not anticipate any significant
increase in trade rhetoric in the near future.

Risks that have increased

China: The trade war with China continues to escalate and as we have stated before, we believe that
it cannot be resolved simply by China importing more US goods. The issues range from:

e A large and growing trade deficit with China

e Industrial policies & unfair trade practices that reduce competition, such as subsidies and
“dumping good at below-market prices”

e “Made in China 2025” policies which “harm US companies”

HOUSE_OVERSIGHT_026900
"
IMAGES-008-HOUSE_OVERSIGHT_024586.txt,"KLC Management

KLC
Key Management
Years with Industry

Name Position Company Exp.
Elanna Yalow President and COO 16 19
Dan Jackson CFO 9 9
Toni Jaffe SVP of Human Resources 1 1
Eva Kripalani SVP & General Counsel 9 9
Marcy Suntken SVP of School Partnerships 14 20
Dan Frechiling SVP of Business Development 1 1
Sharon Bergen SVP of Education and Training 18 18
Steve Brown President, KCDL 1 1
Total 69 78
Average 8.6 9.7

Elanna Yalow, Ph.D., President and Chief Operating Officer

Dr. Yalow has been President and Chief Operating Officer of KLC since January 1996, having joined the
company in 1989 to initiate development of the employer-sponsored services division. Currently, Dr.
Yalow is responsible for supervising all center operations and support functions. Her educational degrees
include a Ph.D. in educational psychology from Stanford University School of Education in 1980 with an
emphasis on the design and evaluation of educational programs for children as well as an M.B.A. from
Stanford University’s Graduate School of Business in 1989. With a background in educational research
and development, Dr. Yalow contributed to numerous statewide and national curriculum development and
assessment projects. Dr. Yalow has written extensively on matters related to the education of young
children.

Mark Moreland, Executive Vice President, Finance and Chief Financial Officer

Mr. Moreland is Executive Vice President and Chief Financial Officer of Knowledge Learning Corporation
(KLC). Mr. Moreland joined KLC during 2006. Prior to joining KLC, Mr. Moreland was Interim CFO with
Movie Gallery, Inc.; the $2.6 billion holding company of the Movie Gallery and Hollywood Video movie
rental stores with 4,700 stores nationwide. Before being appointed interim CFO, Mr. Moreland served as
Senior Vice President, Finance and Treasurer. Before joining Movie Gallery, he was with Kmart
Corporation in both merchandising finance and treasury capacities, last holding the role of Divisional Vice
President, Assistant Treasurer. Mr. Moreland has also worked with Deloitte Consulting, Blue Shield of
California and the U.S. General Accounting Office. Mr. Moreland earned an MBA from the University of
Michigan and a B.S. in Economics from the University of Texas at Arlington.

Eva Kripalani, Senior Vice President and General Counsel

Ms. Kripalani became KLC’s Senior Vice President and General Counsel in January 2005. Prior to that,
Ms. Kripalani served as Senior Vice President, General Counsel and Secretary of KinderCare since July
2001. She joined KinderCare in July 1997 as Vice President, General Counsel and Secretary. Prior to
joining KinderCare, Ms. Kripalani was a partner in the law firm of Stoel Rives LLP in Portland, Oregon,
where she had worked since 1987. Ms. Kripalani received her J.D., magna cum laude, from the

153

HOUSE_OVERSIGHT_024586
"
IMAGES-010-HOUSE_OVERSIGHT_029518.txt,"6 The Virgin Islands Daily News

VIRGIN ISLANDS

Wednesday, December 5, 2018

Jeffrey Epstein settles one suit, but more to come

By CURT ANDERSON
The Associated Press

WEST PALM BEACH, Fla. A decade
ago, Florida financier Jeffrey Epstein pleaded
guilty to sex crimes involving underage girls
and got 13 months behind bars.

What the public and his accusers didn’t know
at the time was that he had secretly struck a deal
with federal prosecutors that spared him from
charges that could have put him away for the
rest of his life.

When the deal finally came to light years
later, it immediately raised suspicions that
Epstein — a man who counted Bill Clinton
and Donald Trump among his friends
and had some of the finest legal talent in
America as his lawyers had used his
wealth and political connections to win
special treatment.

Epstein is also a reskient of the Virgin Islands
as owner of Little St. James Island off the East
End of St. Thomas. He is listed on the VI.
sex offender registry as a result of that 2008
Florida conviction.

Allegations against him flared anew in
recent weeks as news organizations, led by
The Miami Herald, published interviews with
the alleged victims and took a closer look at
Alexander Acosta, who as the U.S. attorney
in Miami in 2008 approved the secret deal.
Acosta is now President Donald Trump's
secretary of Labor.

On Tuesday, a lawsuit that many had hoped

would expose some of the
lurid allegations against
Epstein by putting some
of his accusers on the
stand ended abruptly in
a settlement just as jury

selection was about to
begin.
 \ But the attempt to

get to the bottom of the
Epstein case and how he
managed to get such a light
sentence is not over: Some of his accusers are
pursuing a separate legal effort to nullify the
plea agreement and, they hope, expose him to
federal prosecution again.

“That injustice needs to be addressed and
will be addressed” said Jack Scarola, one of the
attorneys lined up against Epstein. “There is no
justification for the broad scope of immunity
that was granted.”

Epstein, 65, reached the non-prosecution deal
with Acosta’s office while under investigation
on suspicion of sexually abusing at least 40
teenage girls. Under the deal, he pleaded guilty
to two state charges, did his time in jail, paid
settlements to many of the alleged victims and
registered as a sex offender.

He could have faced a far more severe
penalty if federal prosecutors had pursued a
draft 53-page indictment that was never filed
and included sex trafficking charges.

Some of Epstein’ accusers are now arguing
that their rights were trampled under a federal

Jeffrey Epstein

law that says crime victims must be informed
about plea bargains.

One of Epstein’s lawyers, Roy Black,
has said there was no conspiracy to violate
victims’ rights, and the plea agreement was
“no sweetheart deal by any stretch of the
imagination.”

Even if the plea bargain is nullified, the final
decision on binging charges woukd rest solely
with the Justice Department.

On Tuesday, Epstein settled a defamation
lawsuit brought against him by a lawyer for
some of the accusers, Bradley Edwards, who
said Epstein tned to derail his representation
of the women and ruin his career. In settling,
Epstein apologized and agreed to pay an
undisclosed amount.

Edwards said some of the accusers — some
of whom say they were 13 or 14 when they
were molested were prepared to testify in
the lawsuit and may yet get their day in federal
court.

“They're willing to talk. They want to share
their stories,” Edwards said.

Congressional Democrats are calling for an
internal Justice Department investigation.

Rep. Lois Frankel, who represents the Palm
Beach area, said Tuesday that Epstein “allegedly
had dozens and dozens of young, vulnerable
women, young women taken to his house where
they were sexually exploited.”

“L think what has been equally shocking is
what I call an extreme minimal punishment for
this man without really any public explanation

Cancer Support Virgin Islands (CSVI)
sponsored by International Capital & Management Company®
provides financial assistance to U.S. Virgin Islands cancer patients.

as to why this happened,” Frankel added.

Acosta has not commented about the case
during the recent media coverage. He was asked
briefly about the non-prosecution agreement at
his Senate confirmation hearing.

“At the end of the day, based on the evidence,
professionals within a prosecutors office
decided that a plea that guarantees someone
goes to jail, that guarantees he register generally
and guarantees other outcomes, is a good
thing,” he said.

According to court papers, Epstein had a
Palm Beach mansion where girls were brought
for what they were sometimes told were
massage sessions, He allegedly had female
fixers who would look for suitable girls, some
of them recruited from Eastern Europe and
other parts of the world.

Before the scandal broke, Epstein was
friends with Trump and had visited the real
estate developer’ Mar-a-Lago resort. Trump
told interviewers that Epstein was “a great guy.”
Records also show Clinton flew on Epstein’s jet
more than two dozen times.

One young woman alleged in court
documents that Epstein shared her with his
friends, including Britains Prince Andrew, a
charge denied by Buckingham Palace.

Epstein’s legal team at various times included
such big names as Whitewater prosecutor
Kenneth Starr and Harvard professor Alan
Dershowitz.

Neither Trump nor Clinton has been accused
of any wrongdoing related to Epstein.

During October Breast Cancer month,
CSVI recently raised over $100,000.

Contact Charlene Kehoe at 715-5806 or 340-690-8952
if you need support in your fight against cancer.

SCSVI

Cancer Support Virgin Islands

All funds raised by CSVI are managed via the VI Cancer
Patient Fund of the Community Foundation of the
Virgin Islands - a 501¢3 charitable organization.

HOUSE_OVERSIGHT_029518
"
TEXT-002-HOUSE_OVERSIGHT_032467.txt,"From: Darren lndyke 
Sent: 2/15/2017 11:49:48 AM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Re: TR: update 
Importance: High 
Privileged - Redacted 
Sent from my iPhone 
On Feb 15, 2017, at 6:37 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
Privileged - Redacted 
L_ 
On Wed, Feb 15,_2017 at 6:11 AM, Darren Ind_yke W- wrote: 
Privileged - Redacted 
Sent from my iPhone 
Begin forwarded message: 
From: Etienne Binant 
Date: February 14, 2017 at 8:18:41 PM EST 
To: Darren Indyke < 
Subject: TR: update 
Dear Darren 
Latest from JE (indeed, encouraging) 
> 
Please let me know when account/wire are active, and how I can access internet banking and start the ball (in 
fact, it has started) 
all the best 
De : jeffrey E. <jeeyacation@gmail.com> 
Envoye : vendredi 10 feyrier 2017 18:40 
A: Etienne Binant; Lang, Caroline 
Objet: Re: update 
yes, lets start. . yes we are on. sorry with trump around its been very crazy busy 
HOUSE OVERSIGHT 032467 
On Fri, Feb 10, 2017 at 7:59 AM, Etienne Binant < > wrote: 
Hi Jeffrey 
Happy to talk to you almost anytime today until around 3PM. Just tell me what number I should reach. 
Not sure what got lost in translation here: never had the intention to go to any art fair or art show or 
anything of the kind. 
All the artists we have in mind or send to you are people we have direct connections with. Not just their 
studio, but also their home. They are people the work of whom we follow, and many of them are already 
friendly (Arianna, Cali have had dinner or stayed home). 
The idea is absolutely to have an impact on the ecosystem and to make a difference by supporting great 
artists when they need it. 
Galleries references are important, because galleries allow artist to reach a broader audience. We would go 
directly to the source. 
This is why it's important for me to go to LA or Berlin (or elsewhere) because those artists are not rich yet, 
they dont travel so much. They belong to a scene, and it does make a big difference to them if you connect 
in person. 
The spirit is to have an impact on young, talented folks, and absolutely to stay at the source. 
Once again, not sure was drifted away from this in communication 
E 
De : jeffrey E. <jeevacation@gmail.com> 
Envoye : vendredi 10 fevrier 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 < wrote: 
HOUSE OVERSIGHT 032468 
Gentlemen 
I 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 
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 032469 
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 032470 
"
IMAGES-011-HOUSE_OVERSIGHT_032217.txt,"From: Alireza |ttihadich [i

Sent: 5/22/2017 6:58:42 AM
To: JEFF EPSTEIN [jeevacation@gmail.com]
Subject: lran and Trump Speech.

Importance: — High

Mr. Rouhani’s supporters also expect his victory, with 57 percent of the vote, to bolster his
outreach efforts to the West and the pursuit of more foreign investment to lift Iran’s ailing

economy.

For those who voted for Mr. Rouhani, there was a feeling of tremendous relief that his challenger,
the hard-line cleric Ebrahim Raisi, who criticized the nuclear deal with the United States and

other Western powers, had lost.
“Bye-bye, Raisi,” the crowds chanted during the street gatherings.

“He faces a difficult task,” Fazel Meybodi, a Shiite Muslim cleric from the city of Qum, said of Mr.
Rouhani. “Now he must provide more freedoms, break the hard-line monopoly on the state-run

radio and television, and increase freedom of press.”

To achieve all that, Mr. Rouhani must persuade the hard-line-dominated judiciary and security
forces to change their outlook, Mr. Meybodi said. “If he fails to deliver on at least 70 percent of

those promises, his future is dark,” he added.

For decades, Saudi Arabia and Iran have competed for religious leadership and political influence

across the Muslim world and beyond.

Trump is correct, however, Rouhani needs a chance to act.

V-BR
Alireza Ittihadieh

HOUSE_OVERSIGHT_032217
"
IMAGES-001-HOUSE_OVERSIGHT_011451.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

148
H3vlgiu2

but it certainly is not anything that there is going to be any

real evidence about in this case.

The next two LiButti factors, the next one relates to
any interest in the outcome of the litigation. Again,
Mr. Cassell has to manufacture some interest here. These folks
are not defendants in this case, these witnesses. They have no
financial interest. They have no ties. There is no joint
defense agreement. There is no indemnification agreement.

There is nothing. They have absolutely no dog in this fight,

again, which is no interest in the litigation.

There's just really nothing that would allow any

adverse inference in this case one way or the other.
Finally, your Honor -- well, two final points. The

questioning, you know, the kind of questions that were posed to

these witnesses were precisely the kind of questions that have

been disapproved in the Second Circuit. And that's Brink's

Inc. v. City of New York, which is in the papers; WorldCom

Security Litigation, also in the papers; and LiButti itself.

These are not technical objections. It serves no legitimate
evidentiary purpose for a lawyer to come in and simply ask a

very bunch of highly charged, leading questions to which they

know the witness is going to say, ""I take the Fifth."" There is
no evidentiary ball advanced with those questions, because it's
just lawyer argument that doesn't do anything for anybody. So

both sides could ask a hundred questions, they could both be

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011451
"
IMAGES-010-HOUSE_OVERSIGHT_028606.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
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_028606
"
IMAGES-008-HOUSE_OVERSIGHT_026391.txt,"Case 1:16-cv-04642 Document1 Filed 06/20/16 Page 8 of 9

framed to solicit media attention or, perhaps, are simply politically motivated. There is
absolutely no merit to these allegations. Period.” The statement provided for publication by
Defendant Trump was published by said website and has been republished elsewhere in whole or
in part numerous times (and similar statements of an attorney for Defendant Trump were also
published). The statement provided for publication by Defendant Trump and that was published
by said websites is false as it pertains to Plaintiff.

28. The published statement is libelous on its face, and clearly exposes Plaintiff to
hatred, contempt, ridicule and obloquy.

29. As a proximate result of the above-described publication, Plaintiff has suffered
loss of her reputation, shame, mortification, and injury to her feelings, all to her damage in an
amount to be established by proof at trial.

30. The above-described publication was not privileged because it was published by
Defendant Trump with malice, hatred and ill will toward Plaintiff and the desire to injure her.

31. As a direct and proximate result of Defendant Trump’s defamation of Plaintiff,

Plaintiff has been subjected to public scorn, hatred, and ridicule and has suffered other injury.

PRAYER FOR RELIEF

WHEREFORE, Plaintiff prays for judgment against Defendants and for the
following relief:
A. That judgment be entered against Defendants for special damages, compensatory
damages, and punitive damages in an amount which shall be shown to be reasonable and just by
the evidence and in excess of Seventy Five Thousand Dollars ($75,000.00), exclusive of interests

and costs;

HOUSE_OVERSIGHT_026391
"
IMAGES-010-HOUSE_OVERSIGHT_030049.txt,"20

licensing. Sabahi, like Nour, has been a key organizer within the
opposition and is a gifted politician, but enjoys less widespread
popularity than other candidates.

After the new Parliament and president are elected, the provisional
Constitution allows (and, according to a reading endorsed by a SCAF
member, actually requires) a constituent assembly to be selected to
draft an entirely new Constitution. While the opponents to the
amendments wished to have this done as the first rather than the last
step, they will ultimately get their wish for an entirely new document.

Nathan Brown is a professor of political science and international

affairs at George Washington University and a nonresident senior
scholar at the Carnegie Endowment for International Peace.

HOUSE_OVERSIGHT_030049
"
IMAGES-001-HOUSE_OVERSIGHT_010997.txt,"consensus rather than supports one school over another. | think it is the consensus
view, as well as Keynes’, that his “attempted saving” means gross saving (gross
income less consumption) not invested in new productive assets. That can be

written as

Keynesian attempted saving - transfer payments

= Keynesian net saving = Keynesian net investment,

at any scale.

| accept Keynes’ definition of transfer payments, and | recognize the importance of
his distinction of those from investment in new productive assets which put idle
plant and workers to work. My interpretation, even so, is that it is better to leave
them idle than to put them to work unproductively. Keynes made his opposite view
crystal-clear with his brilliant tongue-in-cheek parable of money buried in
mineshafts and idle workers hired to dig it up. He had a sense of theater as well as a
great mind. And he just might have been right. But I think my way of putting things
encompasses that possibility. His mineshaft scenario works if it somehow

maximizes return in the big picture.

My language differs from Keynes’ in several ways. I prefer Myrdal’s ex ante - ex post
dichotomy, published three years after the General Theory, to Keynes’ equivalent
attempted-realized one. Like Myrdal, and unlike Keynes, I apply it to investment as
well as saving. That’s why | treat them as synonymous. And | prefer to recognize
human capital explicitly. Keynes surely understood the concept. He was the star
pupil of Alfred Marshall's later teaching career, unless he shared that distinction
with his lifelong personal friend and professional adversary Arthur Pigou, and
Marshall and Pigou both describe human capital in principle. Marshall wrote that he
neglected it as something outside what he saw as the main sequence ending with
consumption. Keynes could have agreed, or could have meant to provide for it

implicitly by defining output as investment plus consumption while realizing that

Chapter 4 Mill’s Idea 1/11/16 6

HOUSE_OVERSIGHT_010997
"
IMAGES-002-HOUSE_OVERSIGHT_013940.txt,"The second field trip was a 30-day tour of Chinese family and food (pig face, anyone’), ending with
Shumei Wu becoming Shumei Camarillo. Back in Palo Alto, HP continued its quest for world
domination, neither knowing nor caring where Dave was. He had his calls forwarded to his newly
begotten wife’s cell phone and all was right in the world.

Now back in the U.S. after hoping for the best and preparing for the worst, Dave had earned his Eagle
Scout mobility badge. The future looks flexible, indeed. He is going to start by spending two months in
China every summer and then move to Australia and Europe to make up for lost time, all with the full
support of his boss.

The key to cutting the leash was simple—he asked for forgiveness instead of permission.

“T didn’t travel for 30 years of my life—so why not?”

THAT’S PRECISELY THE question everyone should be asking—why the hell not?

From Caste to Castaway

Tre old rich, the upper class of yore with castles and ascots and irritating little lapdogs, are
characterized as being well-established in one place. The Schwarzes of Nantucket and the McDonnells
of Charlottesville. Blech. Summers in the Hamptons is sooooo 1990s.

The guard is changing. Being bound to one place will be the new defining feature of middle class. The
New Rich are defined by a more elusive power than simple cash—unrestricted mobility. This jet-setting

is not limited to start-up owners or freelancers. Employees can pull it off, too =

Not only can they pull it off, but more and more companies want them to pull it off. BestBuy, the
consumer electronics giant, is now sending thousands of employees home from their HQ in Minnesota
and claims not only lowered costs, but also a 10-20% increase in results. The new mantra is this: Work
wherever and whenever you want, but get your work done.

In Japan, a three-piece zombie who joins the 9-5 grind each morning is called a sarari-man
—salaryman—and, in the last few years, a new verb has emerged: datsu-sara suru, to escape (datsu) the
salaryman (sara) lifestyle.

It’s your turn to learn the datsu-sara dance.22

Trading Bosses for Beer: An Oktoberfest Case Study

T. create the proper leverage to be unshackled, we’ll do two things: demonstrate the business benefit

of remote working and make it too expensive or excruciating to refuse a request for it.
Remember Sherwood?

His French shirts are beginning to move and he is itching to ditch the U.S. for a global walkabout. He
has more than enough cash now but needs to escape constant supervision in the office before he can

HOUSE_OVERSIGHT_013940
"
IMAGES-005-HOUSE_OVERSIGHT_020154.txt,"Chapter One

Chapter Two

Chapter Three
Chapter Four
Chapter Five
Chapter Six
Chapter Seven
Chapter Eight

Chapter Nine

CONTENTS

PROLOGUE

On the Snowden Trail: Hong Kong 2014

PART ONE

The Intelligence Crisis

The Great Divide
The Crime Scene Investigation
PART TWO

Snowden’s Arc

Tinker

Secret Agent
Contractor

Thief

Crossing the Rubicon
Hacktavist

String-Puller

HOUSE_OVERSIGHT_020154
"
IMAGES-001-HOUSE_OVERSIGHT_011337.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

34
H3VOGIU1

amount has something that the jury should consider. Your

Honor, the papers set forth very clearly that there's a

specific rule of evidence directly on point with respect to
settlement agreements, and they can't be used in that manner.

Your Honor, we cite to our papers on that with respect

to any prior settlement agreement being entered into evidence
ae ‘the teal.

MR. CASSELL: I believe I have the next three.

Item 18 then is defamation litigation. And your Honor

is aware that there was a separate lawsuit that's spun out of

this situation where Cassell and Edwards filed a defamation

action in Florida State Court against Alan Dershowitz. Alan

Dershowitz then counterclaimed. That was litigated in Florida

State Court for about a year. Ultimately, the parties settled

their differences in an undisclosed financial arrangements and,

as part of the comprehensive settlement, Cassell and Edwards

then withdraw summary judgment against Dershowitz.

It was as expressly understood when the parties agreed
upon this confidential settlement, there was then a statement
in which it was said that Ms. Giuffre reaffirms her

allegations, and the withdrawal of the reference to the filings

is not intended to be and should not be construed as being an

acknowledgment by Edwards and Cassell that the allegations made

by Ms. Giuffre were mistaken.

There was a portion of the statement that talked about

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011337
"
IMAGES-002-HOUSE_OVERSIGHT_012486.txt,"on DO oO FR WwW DN

~0929104. TXT
currently and that was before she worked there, and we
just thought it would be funny.
MR. TEIN: 19-007. Can you enlarge that?
BY MR. TEIN:
Q. Who took this photo of you simulating you
having sex with a man?
A. We're not simulating having sex, and
it's -- oh, and the person who took it was, I'm pretty
sure, Chris, but | know him as | don't Know his
last name.
Q. Go to 19-006, please.
Who took this photo of you simulating sex
with a man?
A. The same person. And we're not simulating
having sex, Mr. --
Q. Tein.
Did you post that on the Internet?
A. Actually, this is an old MySpace | never
Finished and | never [ike did anything. 1 just kind of
made it and left it.

Q. So the answer is yes, you posted this on
107
MySpace?
A. Yup.
Q. Go to 25-016. Who took this photo of you

simulating sex with a woman?
MR. LEOPOLD: Object to the form of the
question. Argumentative.
THE WITNESS: First off, she's piercing my
belly button or repiercing it, and I'm pretty sure

Page 91

HOUSE_OVERSIGHT_012486
"
IMAGES-002-HOUSE_OVERSIGHT_013798.txt,"The 4-Hour
Workweek

> ESCAPE 9-5, LIVE ANYWHERE,
AND JOIN THE NEW RICH

Expanded and Updated

TIMOTHY FERRISS

ie

CROWN PUBLISHERS NEW YORK

For my parents,
DONALD AND FRANCES FERRISS,
who taught a little hellion that marching to a different drummer
was a good thing. I love you both and owe you everything.

SUPPORT YOUR LOCAL TEACHER —
10% of all author royalties are donated to educational
not-for-profits, including Donorschoose.org.

> CONTENTS

HOUSE_OVERSIGHT_013798
"
TEXT-001-HOUSE_OVERSIGHT_030976.txt,"From: J [jeeyacation@gmail.com] 
Sent: 5/29/2019 4:46:05 PM 
To: Roy Black 
Subject: Fwd: FW: Reporter question 
----------Forwarded message--------- 
From: Martin G. Weinberg ‹> 
Date: Wed, May 29, 2019 at 12:45 PM 
Subject: FW: Reporter question 
To: J <jeevacation@gmail.com> 
Martin G. Weinberg, Esq. 
20 Park Plaza 
Suite 1000 
Boston, MA 02116 
Office 
Cell 
----------------------------------This Electronic Message contains information from the Law Office of 
Martin G. Weinberg, P.C., and may be privileged. The information is intended for the use of the addressee only. If you are 
not the addressee, please note that any disclosure, copying, distribution, or use of the contents of this message is 
prohibited. 
From: Kate Briquelet - 
Sent: Wednesday, May 29, 2019 12:34 PM 
To: Martin Weinberg -1.1> 
Subject: Re: Reporter question 
Hi Marty, 
Hope all is well. Noticed this Guardian story about Michael Wolff s new book, which states Donald Trump 
purchased a Palm Beach property Mr. Epstein had planned to buy, behind Mr. Epstein's back. And that Mr. 
Epstein threatened to expose Trump's shady real estate deals. Do you know anything about this? Does Mr. 
Epstein have any knowledge of illegal or suspicious dealings by President Trump? 
https://www.theguardian.com/us-news/2019/may/28/bannon-trump-organization-criminal-enterprise-comments-
michael-wolff-book  
HOUSE OVERSIGHT 030976 
Also, we plan on running a story this Friday about the Crime Victims' Rights Act suit, and the Jane Does' 
proposed remedies. The alleged victims want the U.S. Attorney's Office to rescind the immunity provisions in 
the NPA, and to pursue a prosecution against Mr. Epstein and his co-conspirators. Can you comment on this? 
Thanks so much! 
Kate 
Kate Briquelet 
Senior Reporter 
Join Beast Inside, our new membership program, to get more of the journalism you trust and love. 
Virus-free. www.avast.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 030977 
"
TEXT-002-HOUSE_OVERSIGHT_032301.txt,"From: 
Sent: 
To: 
Subject: 
Richard Kahn 
10/1/2016 1:56:19 AM 
Jeffrey Epstein [jeevacation@gmail.com] 
This Chart Predicts Trump Will Win, Unless the S&P Rallies in October - Bloomberg 
Importance: High 
http://www.bloomberg.com/news/articles/2016-09-30/this-chart-predicts-trump-will-win-unless-the-s-p-
rallies-in-october 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue, 4th Floor 
New York, NY 10022 
Tel 
Fax 
Cell 
HOUSE OVERSIGHT 032301 
"
IMAGES-003-HOUSE_OVERSIGHT_015978.txt,"288 Are the Androids Dreaming Yet?

Most scientists believe communication between humans is classical:
words spoken in proximity have no more power than had we carefully
written out what we wanted to say. Body language and tone of voice are
simply useful tools to aid the transmission of this information. I’m going
to explore the ways in which human face-to-face communication might
exceed this traditional classical model. Let us look first at the bandwidth
of communication between people.

Bandwidth

Let me give you a mental picture for what I mean by bandwidth. Imagine
Iam sitting in a darkened theatre enjoying one of my favorite comedians
at the Edinburgh Festival — the biggest arts festival in the world. I phone
a friend who is also a fan and let them listen in. Perhaps I even use the
camera and surreptitiously point the phone at the comedian. My live
experience is digitized, compressed and transmitted over the mobile
network to my friend. He gets the same experience but at much-reduced
bandwidth.

My friend has a similar but qualitatively different experience to
mine. He cannot hear the degrees of loud and soft I hear, nor the full
range of high and low frequencies forming the timbre of the comedian’s
voice; no sense of the smell of old armchairs or the heat of the audience
around me. He is spared the strange stickiness my shoes meet on the
floor of the auditorium and the occasional slosh of beer that hits me
froma slightly inebriated neighbor. For the person at the other end of the
phone, their view is of a tiny two-dimensional screen about 4 by 3 inches
square. Of course, they can enlarge the picture, but then the pixilation
dominates and it looks like an impressionist picture viewed close up. He
has nothing like the same intensity of experience. Loss of bandwidth is
something we can study mathematically and the reduction is enormous.

Video and Audio

The image of the comedy show is digitized by the camera and
microphone; the video at 384,000 bits per second and the audio at 64,000
bps. Mathematical compression will be applied and the video will shrink
to 30,000 while the audio drops down to 4,700. After compression, the
whole experience amounts to around 40,000 bits per second. To put it in
some perspective, a DVD would be 11.5 million bits per second, nearly
300 times the bandwidth.

HOUSE_OVERSIGHT_015978
"
IMAGES-011-HOUSE_OVERSIGHT_031078.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

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_031078
"
IMAGES-009-HOUSE_OVERSIGHT_028093.txt,"But there were times of crisis, and high tension, as well. Only five months
after the election, Rabin and I faced one of the most painful periods during my
entire time as chief of staff. It began with the gruesome death of five Sayeret
Matkal soldiers during a training exercise in the Negev desert. I’d made
preventing such accidents a top priority. By the end of the 1980s, they were
claiming as many as 80 lives a year. During Dan’s tenure, we’d brought the
number down to about 35. But I knew we had to do more. When I’d addressed
the officers after becoming chief of staff, I told them: “Parents are giving us
their children in order to allow us to protect the country. They know there is risk
involved. But they expect their children not to be brought home in coffins
because of our own negligence, or stupidity.” What happened at the military
base of Tze’elim in the Negev on November 5, 1992 was not only a reminder of
how far we still had to go, however. It occurred during a dry run for an
operation unlike any that Israel had ever considered. For that and other reasons,
it would erupt into a major political controversy.

Though the reason for the exercise was meant to have remained a closely
guarded secret, foreign newspaper reports in the weeks after the training
accident made secrecy impossible. We were planning to infiltrate a Sayeret
Matkal unit into Iraq, and to kill Saddam Hussein.

The Gulf War had blunted any immediate threat from Iraq. But Saddam had
proven he could launch missiles into the heart of Israel. We knew from our
intelligence reports that, in addition to his unabated desire to acquire nuclear
arms, he retained facilities to produce chemical weapons. He was trying to
acquire and develop new biological weapons. In fact, the Iraqis had actually
acknowledged a biological weapons program to UN inspectors, claiming it was
for “defensive purposes.”

The idea for an attack on Saddam had first been raised a year earlier, when
my former Sayeret Matkal comrade, Amiram Levin, asked to see me. He was
between military postings, but had come up with the outline of a plan he felt
would allow us to isolate Saddam during a public appearance and kill him. With
my approval, he and a small group of officers in the sayeret began working
further on the idea, with the initial aim of seeing whether it was really workable.
Since Misha was still Defense Minister, I briefed him on what we were doing. I

245
HOUSE_OVERSIGHT_028093
"
IMAGES-012-HOUSE_OVERSIGHT_032911.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_03291 1
"
IMAGES-004-HOUSE_OVERSIGHT_018082.txt,"WGirls
Fourth Annual Bachelor and Bachelorette Auction. Cocktails. Location to be determined.

Event address: More information to come shortly,. Event web address: wegirls.org/what-we-do/upcoming-recent-events.

Tags: Auction Cocktail party Fundraiser Lifestage Young Professional Social Jr. Committee Social Patron Association.

New York Building Congress

34th Annual Transportation & Construction Luncheon. 11:45am. Reception and program. Hon. chair: Dominick Servedio. MC, Otis
Livingston. Honoring Husam Ahmad,Janette Sadik-Khan,Jay H. Walder,Richard Wood. Chaired by Thomas E. Diana. Co-chaired by Majid
Hedayati,Gregory A. Kelly, Ira A. Levy, Bernard London, Frank T. MacInnis. Cipriani Wall Street. New

York. jcarlo@marchofdimes.com. (212) 353-1143.

Event address: 55 Wall St., New York. Event web address: www.buildingcongress.com.

Tags: Awards/Awards Shows Luncheon Industry Real Estate/Architecture Industry Technology Health Pediatrics.

Sotheby's

Art of Farming Auction Opening Day. (Continues through September 24.). Sotheby's. New
York. molly@mollymiddletonevents.com. (646) 483-6721.

Event address: 1334 York Ave., New York.
Tags: Auction Arts Patron Collector.

Vanidades Magazine

50th Anniversary Gala. 7:00pm. Cocktails, dinner, entertainment and dancing. Honoring Oscar de la Renta,Carolina Herrera,Narciso
Rodriguez. Trump SoHo Hotel. New York. Contact: Alexandra Akshar. aakshar@televisapublishing.com. (305) 871-6400.

Event address: 246 Spring St., New York. Sponsored by Continental Airlines, Moet & Chandon, Sprint,Tansitions, TechnoMarine, The Estee Lauder
Companies Inc. Event web address: www.vanidades.com.

Tags: Gala Industry Media Industry Publishing Social Patron.

De ee eee ee ee ee i ee

The information contained in this communication is
confidential, 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

HOUSE_OVERSIGHT_018082
"
IMAGES-009-HOUSE_OVERSIGHT_028087.txt,"fully detailed picture of the progress of the SAS action, skeptics and hawks in
the cabinet were inclined to see a glass half-empty. They continued to press for
Israeli military action.

In a rare public statement, I tried to reassure the country we did have a
military option, but also to urge restraint. I pointed out that the number of Scuds
had begun decreasing. Though the threat had not been eliminated altogether, we
had “very good operational plans” that would be “carried out when and if the
Israeli government instructs us to implement them.” Yet I added a caveat. “On
the political level, fingers are itching to carry out operations which, in our
opinion, can remove the threat. But in the complex situation created by this war,
neither anger, hurt, nor itchy fingers can replace rational thinking.”

The American ground invasion did turn out to be swift and decisive. In
Israel, Scud attacks continued for a few more days. But the last two missiles fell
in the Negev before dawn on February 25, among the very few to cause neither
casualties nor damage. We turned out to have been right in our pre-war
assessment about the number of missiles: around 40. Fortunately, the casualties
were far fewer than we’d anticipated. Not 120 dead, but fifteen, only one of
whom died directly because of a missile blast. The other deaths were the result
of understandable panic: the misuse of gas masks or the gas antidote drug
atropine, or from respiratory and cardiac failure. The physical damage,
however, was far greater than I’d anticipated. Buildings were destroyed. Cars
were crushed. Glass and debris flew everywhere. In financial terms, the cost ran
to hundreds of millions of dollars. The true impact was greater: on families who
saw the destruction not only their homes, but a lifetime of prized possessions.
For Holocaust survivors in particular, there was the almost unimaginable terror
of having to huddle in sealed rooms for fear of gas. And all Israelis had
experienced a new sense of vulnerability to a faraway enemy whom they
couldn’t see nor, apparently, stop.

I was due to become Israel’s 14"" chief-of-staff at the start of April, barely a
month after the last Scud attack. As the handover drew nearer, I felt fortunate,
in a way, to have missed out on the job four years earlier. Not only had Dan
excelled as ramatkal. I'd benefited from his range of experience, his judgment,
and his trust as well. We had worked together truly as a team.

239
HOUSE_OVERSIGHT_028087
"
IMAGES-012-HOUSE_OVERSIGHT_032905.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_032905
"
IMAGES-004-HOUSE_OVERSIGHT_018096.txt,"12

a trend that has led so many Muslim countries into fundamentalist
dead ends.

HOUSE_OVERSIGHT_018096
"
IMAGES-002-HOUSE_OVERSIGHT_013954.txt,"» I-Resign ( www.i-resign.com )

This site provides everything from non-quitting options (work-leave, vacations) to sample resignation
letters and second-life job-hunting advice. Don’t miss the helpful discussion forums and hysterical “web
consultant from London” letter.

Opening Retirement Accounts

If you want an adviser and don’t mind some fees:

> Franklin-Templeton ( www.franklintempleton.com_) (800-527-2020)

» American Funds ( www.americanfunds.com ) (800-421-0180)

If you will do your own investing and want no-load funds:

» Fidelity Investments ( www.fidelity.com_) (800-343-3548)

> Vanguard ( www.vanguard.com ) (800-414-1321)

Health Insurance for Self-employed or Unemployed (in descending order of reader endorsement)

» Ehealthinsurance ( www.ehealthinsurance.com ) (800-977-8860)

=» AETNA ( www.aetna.com ) (800-MY-HEALTH)

» Kaiser Permanente ( www.kaiserpermanente.com ) (866-352-0290)

» American Community Mutual ( www.american-community.com ) (800-991-2642)

14)

Mini-Retirements

>» EMBRACING THE MOBILE LIFESTYLE

HOUSE_OVERSIGHT_013954
"
IMAGES-005-HOUSE_OVERSIGHT_019919.txt,"and appreciated. He was the anti-wonk. He was the counterexpert. His was the gut call. He
was the everyman. He was jazz (some, in the telling, made it rap), everybody else an
earnest folk music. In the other reality, in which resided most of his antagonists, his
virtues were grievous if not mental and criminal flaws. In this reality lived the media,
which, with its conclusion of a misbegotten and bastard presidency, believed it could
diminish him and wound him (and wind him up) and rob him of all credibility by
relentlessly pointing out how literally wrong he was.

The media, adopting a “shocked, shocked” morality, could not fathom how being
factually wrong was not an absolute ending in itself. How could this not utterly shame
him? How could his staff defend him? The facts were the facts! Defying them, or ignoring
them, or subverting them, made you a liar—intending to deceive, bearing false witness. (A
minor journalism controversy broke out about whether these untruths should be called
inaccuracies or lies.)

In Bannon’s view: (1) Trump was never going to change; (2) trying to get him to
change would surely cramp his style; (3) it didn’t matter to Trump supporters; (4) the
media wasn’t going to like him anyway; (5) it was better to play against the media than to
the media; (6) the media’s claim to be the protector of factual probity and accuracy was
itself a sham; (7) the Trump revolution was an attack on conventional assumptions and
expertise, so better to embrace Trump’s behavior than try to curb it or cure it.

The problem was that, for all he was never going to stick to a script (“his mind just
doesn’t work that way” was one of the internal rationalizations), Trump craved media
approval. But, as Bannon emphasized, he was never going to get the facts right, nor was
he ever going to acknowledge that he got them wrong, so therefore he was not going to get
that approval. This meant, next best thing, that he had to be aggressively defended against
the media’s disapproval.

The problem here was that the more vociferous the defense—mostly of assertions that
could easily be proved wrong—the more the media redoubled its attacks and censure.
What’s more, Trump was receiving the censure of his friends, too. And it was not only
calls from friends worried about him, but staffers calling people to call him and say
Simmer down. “Who do you have in there?” said Joe Scarborough in a frantic call. “Who’s
the person you trust? Jared? Who can talk you through this stuff before you decided to act
on it?”

“Well,” said the president, “you won’t like the answer, but the answer is me. Me. I talk

to myself.”

Hence, within twenty-four hours of the inauguration, the president had invented a
million or so people who did not exist. He sent his new press secretary, Sean Spicer—
whose personal mantra would shortly become “You can’t make this shit up’—to argue his
case in a media moment that turned Spicer, quite a buttoned-down political professional,

HOUSE_OVERSIGHT_019919
"
IMAGES-005-HOUSE_OVERSIGHT_020140.txt,"Venezuela, 293

Vietnam War, 53, 264

Vogue, 35

Wachtell, Lipton, Rosen & Katz, 201, 269

Walker, Scott, 33

Wall Street 2 (film), 270

Walsh, Katie, 10, 18, 52, 64, 110-17, 119-25, 144, 161, 163, 168, 171-72, 181-82, 187, 239, 303
Washington Post, 35, 37, 56, 78, 95-97, 105-6, 151-52, 155, 206, 211, 236, 237, 266

Washington Times, 129
Watergate scandal, 212-13, 278
Weekly Standard, 38
Weinstein, Harvey, 203
Weissmann, Andrew, 278
Welch, Jack, 88
West Bank, 6
White House communications director
Dubke as, 208
Hicks as, 297, 307
Scaramuccci as, 273-74, 281-86
White House Correspondents’ Dinner, 198-99, 208
White House ethics office, 270
White House Office of Public Engagement and Intergovernmental Affairs, 270-71
white supremacy, 127, 138, 293-96
Whitewater affair, 58, 97
WikiLeaks, 153, 254
Wintour, Anna, 35-36
Wirthlin, Richard, 201
Women Who Work (Ivanka Trump), 79
Woodward, Bob, 54, 116
World Bank, 257
World Wrestling Entertainment, 22
Wynn, Steve, 30
Xi Jinping, 193, 228, 258
Yaffa, Joshua, 154
Yahoo! News, 37
Yanukovych, Viktor, 101
Yates, Sally, 94-96, 98, 104, 214-16
Yemen, 6
Yiannopoulos, Milo, 128-28, 138
Zhukova, Dasha, 80

HOUSE_OVERSIGHT_020140
"
IMAGES-002-HOUSE_OVERSIGHT_012492.txt,"7
18
19
20
21
22
23
24
25

oO ~~ DMD oO fF W DN

~0929104. TXT

A. Very incorrect.

Q. Now you lie to your parents all the time,
don't you?

A. Incorrect.

MR. LEOPOLD: Objection. Argumentative.

BY MR. TEIN:
Q. Sorry?
A. Incorrect.

Q. You admitted to the police that you told
your father that you were going shopping, didn't you?
A. Yes.

Q. And isn't it true that your father has
accused you of lying?

A. Atl the time.

Q. Didn't your father throw you out of the

house Thanksgiving of this past year because you were
lying so much to him?

A, Yes, he did kick me out. No, that’s not
the reasons why.

Q. Didn't your father throw your sister
out of the house, too?

A. Yes.

Q. And he threw her out of the house the week

Page 97

HOUSE_OVERSIGHT_012492
"
IMAGES-001-HOUSE_OVERSIGHT_011323.txt,"10

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interesting. Am I conjuring up something that's not going to

happen? No, your Honor. The defendant's own expert report
described our client as a prostitute. Your Honor has under
advisement th xpert report from Dr. Esplin, and so I deposed

Dr. Esplin, and I said, ""Are you sure that's an accurate term

in the context of this case? Because we have a child who

cannot consent to sexual activities."" And he backed off

immediately and agreed that that was an inaccurate term for him

to use to describe my client, Ms. Giuffre. So even the
defense's own expert says the term ""prostitute"" is
inappropriate.

Your Honor has authority, of course, under Rule 611 to

manage the trial, to avoid undue harassment or embarrassment.

Also Rule 403 allows you to restrict things that would be

substantially prejudicial with no probative value, which is

exactly what we have here. So we would ask you simply to reign
in derogatory language, both from witnesses and opposing
counsel.

MS. SCHULTZ: Your Honor, I'll be addressing the next

several points in the omnibus motion, starting with number 8.

I think I can narrow this issue a little bit at the outset.

Ms. Giuffre concedes here that illegal or
nonprescription use of drugs during the years that she was with
defendant is admissible. However, any evidence pertaining to

any use of drugs, illegal or not, and alcohol from any periods

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011323
"
TEXT-001-HOUSE_OVERSIGHT_030962.txt,"From: J [jeevacation@gmail.com] 
Sent: 12/6/2018 10:26:10 PM 
To: Steve Bannon 
Subject: Re: Alex Acosta update I Power Line 
do you know bill barr. CIA. 
On Thu, Dec 6, 2018 at 5:17 PM Steve Bannon < wrote: 
Begin forwarded message: 
From: Robert Grusky < 
Date: December 6, 2018 at 3:52:15 PM EST 
To: Steve Bannon < 
Subject: Alex Acosta update I Power Line 
https://www.powerlineblog.com/archives/2018/12/alex-acosta-update.php 
Alex Acosta update 
Earlier this week, pedophile Jeffrey Epstein bought his way out of a lawsuit that would 
have given some of his victims the opportunity to testify about his predatory and criminal 
conduct. Victims never got that opportunity when Epstein faced criminal charges, because 
Alex Acosta___then the lead prosecutor, now the Secretary of Labor___let Epstein off with 
a ridiculously lenient sentence. Despite having committed hideous sex offenses with dozens 
of minors, Epstein received a sentence of 13 months in jail, during which he was often free 
during the day. 
Epstein's decision to buy his out of the civil lawsuit, one that he had the nerve to initiate, 
benefits Acosta. The trial would have provided non-stop headlines, coupled with frequent 
references to the sweetheart deal Acosta gave him. As Randy Schultz puts it, the trial would 
have been the occasion for a long overdue public shaming of Acosta. Now, he avoids this 
consequence. 
But this doesn't mean Acosta is out of the woods. He faces calls for his ouster from the 
Trump cabinet. 
Some calls are from the usual suspects. Michelle Goldberg of the New York Times has 
written a piece so obnoxious that it almost makes me want to see Acosta ride out the storm. 
But some conservatives are also advocating Acosta's departure. Concerned Women for 
America is a stalwart conservative organization. It describes itself, accurately, as ""focus[ed] 
HOUSE OVERSIGHT 030962 
on seven core issues: the family, the sanctity of human life, religious liberty, education, 
sexual exploitation, national sovereignty, and support for Israel."" (Emphasis added) 
Its leader, Penny Nance, has called for Acosta's resignation. Noting that labor trafficking, 
which the Labor Department combats, is often conjoined with sex trafficking, Nance says 
that President Trump would not have nominated Acosta if reports fully describing Acosta's 
conduct in the Epstein case had emerged earlier. 
Sen. Ben Sasse has also weighed in. He sent a letter to the Justice Department asking it to 
investigate its treatment of Epstein, including the fact that the plea deal ensured that victims 
of the pervert would be denied the ability to comment on or object to the leniency of his 
sentence. Sasse is chairman of the Senate Judiciary Committee Subcommittee on Oversight, 
Agency Action, Federal Rights and Federal Courts. 
Sen. Marco Rubio, a longtime supporter of Acosta, says it would be ""very troubling"" if 
political influence led to a light sentence for Epstein. In Rubio's view, and that of every 
rational person, Epstein ""should have been in jail for a long time."" Rubio added, however, 
that he will reserve judgment until he hears Acosta's side. 
That's fair. But so far, Acosta has provided no real defense for letting Epstein off so lightly. 
In public, at least, he is standing by his argument that the deal was a reasonable one and that 
this is old news. 
Previously, Acosta had a different defense. He cited ""a year-long assault on the prosecution 
and the prosecutors"" by ""an army of legal superstars"" who represented Epstein. This 
allegedly included ""defense counsel investigat[ing] individual prosecutors and their 
families, looking for personal peccadilloes that may provide a basis for disqualification."" In 
this account, the deal was made to relieve the pressure, while still getting a conviction. 
Acosta could hardly assert this explanation____i.e., that he wimped out___while seeking a 
cabinet position with the expectation of being appointed to more exalted jobs in the future. 
Nor is the explanation particularly plausible. Acosta isn't the first prosecutor to face a 
scorched earth defense. Ask Ken Starr about this. 
I don't doubt that Acosta regarded escaping the wrath of the defense team as a benefit of 
reaching the plea deal. But I don't believe this was incentive enough to cause him, in effect, 
to throw the case. 
What was the true incentive? As I wrote when this story broke, I think it was the same 
incentive that explains much of his conduct in public life___Acosta's desire to 
accommodate people he thinks can help him down the road. 
Which people? Probably the lawyers at Kirkland and Ellis, where Acosta had once worked. 
Epstein enlisted Ken Starr* and Jay Lefkowitz, both of Kirkland, for his defense team. 
Acosta reportedly worked out the terms of his surrender with Lefkowitz, a former 
colleague, at a meeting in a location far away from the prosecutor's office. 
HOUSE OVERSIGHT 030963 
The location of the meeting is itself suspicious. Prosecutors and other law enforcement 
officials normally demand that those seeking a deal come to them. 
The fact that Acosta didn't is another sign___if one were needed___that this was a 
capitulation. It also casts further doubt on the claim that Acosta was capitulating for the 
purpose of sparing the folks who worked with him in the prosecutor's office. 
The key point, though, is that Ken Starr and Jay Lefkowitz were power players in 
Washington___men who might help Acosta down the road. 
Readers will be quite familiar with Starr's background. Lefkowitz was director of cabinet 
affairs and deputy executive secretary to the domestic policy council under President 
George H.W. Bush. Under President George W. Bush, Lefkowitz served as general counsel 
in the Office of Management and Budget and later as deputy director of domestic policy at 
the White House. 
Accommodating such influential figures must have seemed like a good career move. 
Having Starr and Lefkowitz on his side might help Acosta get a judgeship, a cabinet 
appointment, or a high-paying job back at Kirkland and Ellis. 
I'm speculating, of course. But my speculation finds support in Acosta's practice of 
accommodating the powerful. 
Much of that accommodation is of Democrats. Indeed, at the time Acosta was working in 
Miami as a U.S. Attorney, he had alienated some Republicans by such accommodation  
while at the Department of Justice. Some say he was on the verge of being fired when 
Attorney General Alberto Gonzalez parachuted him to Miami. The Epstein settlement was a 
way for Acosta to shore up his standing with some influential Republicans. 
Will Acosta be able to survive the current scandal? I don't have a clear sense about this yet. 
But President Trump, who isn't bashful about sacking cabinet members, may come to 
believe (if he doesn't now) that it's disadvantageous to have a cabinet member who sold out 
teenage victims of sexual abuse, especially when the sell-out benefited an ultra-wealthy 
serial offender. 
* Some on the left are trying to make something or the fact that Starr, who had investigated 
Bill Clinton in connection with sexual misconduct, later defended Epstein, a pervert. This is 
silly. 
In both instances, Starr was doing his job as a lawyer. Perverts are entitled to a defense and 
there is nothing hypocritical about investigating Bill Clinton's misconduct when that was 
Starr's job and later joining the team that was defending Jeffrey Epstein. 
Acosta, by contrast, was on the team seeking justice for Epstein and for his victims. He 
gave up this quest for reasons that can't be defended. 
HOUSE OVERSIGHT 030964 
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 
HOUSE OVERSIGHT 030965 
"
IMAGES-006-HOUSE_OVERSIGHT_022289.txt,"54018

Federal Register/Vol. 76, No. 168/Tuesday, August 30, 2011/Rules and Regulations

Some comments argue that the
Board’s notice posting rule does not go
far enough to effectuate the NLRA. One
labor attorney argues that the Board
should require annual trainings for
supervisors and captive audience
meetings where employees are read
their rights by supervisors and Board
agents and the employees would have to
acknowledge receiving those notices.
The same comment suggests banning
captive audience meetings by
employers. The comment concludes that
the NPRM “‘doesn’t go anywhere near
far enough. It is, however, an important
and worthwhile advancement.” %
Another comment also suggests that
annual, mandatory training classes for
employees would be desirable.9° The
Board believes that this Rule strikes the
proper balance in communicating
necessary information about the NLRA
to employees.

For all the foregoing reasons, the
Board is persuaded that many private
sector employees are unaware of their
NLRA rights.96

III. Summary of Final Rule and
Discussion of Related Comments

The Board’s rule, which requires
employers subject to the NLRA to post
notices of employee rights under the
NLRA, will be set forth in Chapter 1,
Part 104 of Volume 29 of the Code of
Federal Regulations (CFR). Subpart A of
the rule sets out definitions; prescribes
the size, form, and content of the
employee notice; and lists the categories
of employers that are not covered by the
rule. Subpart B sets out standards and

a few months, especially since the number of
contractors covered by the Labor Department’s rule
is only a small fraction of the number of employers
subject to the NLRA. In any event, the Board does
not believe that that is the proper criterion by
which to measure the rule’s effectiveness. The
purpose of requiring the posting of such notices is
to inform employees of their rights so that they may
exercise them more effectively, not to obtain any
particular result such as the filing of more election
petitions.

The same comment also cites a couple of
textbooks which it asserts are popularly used in
high schools today to argue that labor history is
being taught to today’s students. The Board is
unable to assess the truth of that assertion, but
regardless, it is unclear whether students
necessarily connect this history to their future
rights as employees.

°3Comment of Weinberg, Roger & Rosenfeld.

947d.

°5Comment of Staff Representative, Steelworkers.

°6 Accordingly, the Board finds it unnecessary to
conduct a study to determine the extent of
employees’ knowledge of NLRA rights. The Board
further observes that even if only 10 percent of
workers were unaware of those rights, that would
still mean that more than 10 million workers lacked
knowledge of one of their most basic workplace
rights. The Board believes that there is no question
that at least a similar percentage of employees are
unaware of the rights explained in the notice. In the
Board’s view, that justifies issuing the rule.

procedures related to allegations of
noncompliance and enforcement of the
tule. The discussion below is organized
in the same manner and explains the
Board’s reasoning in adopting the
standards and procedures contained in
the regulatory text, including the
Board’s responses to the comments
received.

Subpart A—Definitions, Requirements
for Employee Notice, and Exceptions
From Coverage Definitions

A. The Definitions

For the most part, the definitions
proposed in the rule are taken from
those appearing in Section 2 of the
NLRA, 29 U.S.C. 152. No comments
were received concerning those
definitions, and they are unchanged in
the final rule. A number of comments
were received concerning the definition
of other terms appearing in the rule.
Those comments are addressed below.

B. Requirements for Employee Notice

1. Content Requirements

The notice contains a summary of
employee rights established under the
NLRA. As explained above, the Board
believes that requiring notice of
employee rights is necessary to carry out
the provisions of the NLRA.
Accordingly, § 104.202 of the proposed
rule requires employers subject to the
NLRA to post and maintain the notice
in conspicuous places, including all
places where notices to employees are
customarily posted, and to take
reasonable steps to ensure that the
notices are not altered, defaced, or
covered by any other material, or
otherwise rendered unreadable.

As stated in the NPRM, the Board
considered the substantive content and
level of detail the notice should contain
regarding NLRA rights. In arriving at the
content of the notice of employee rights,
the Board proposed to adopt the
language of the Department of Labor’s
final rule requiring Federal contractors
to post notices of employees’ NLRA
rights. 29 CFR part 471. In the NPRM,
the Board explained that it tentatively
agreed with the Department of Labor
that neither quoting the statement of
employee rights contained in Section 7
of the NLRA nor briefly summarizing
those rights in the notice would be
likely to effectively inform employees of
their rights. Rather, the language of the
notice should include a more detailed
description of employee rights derived
from Board and court decisions
implementing those rights. The Board
also stated that it saw merit in the
Department of Labor’s judgment that
including in the notice examples, again

derived from Board and court decisions,
of conduct that violates the NLRA will
assist employees in understanding their
rights. 75 FR 80412.

Prior to issuing the NPRM, the Board
carefully reviewed the content of the
notice required under the Department of
Labor’s final rule, which was modified
in response to comments from
numerous sources, and tentatively
concluded that that notice explains
employee rights accurately and
effectively without going into excessive
or confusing detail. The Board therefore
found it unnecessary, for purposes of
the proposed rulemaking, to modify the
language of the notice in the Department
of Labor’s final rule. Moreover, the
Board reasoned that because the notice
of employee rights would be the same
under the Board’s proposed rule as
under the Department of Labor’s rule,
Federal contractors that have posted the
Department of Labor’s required notice
would have complied with the Board’s
rule and, so long as that notice is
posted, would not have to post a second
notice. Id.

The proposed notice contained
examples of general circumstances that
constitute violations of employee rights
under the NLRA. Thus, the Board
proposed a notice that provided
employees with more than a
rudimentary overview of their rights
under the NLRA, in a user-friendly
format, while simultaneously not
overwhelming employees with
information that is unnecessary and
distracting in the limited format of a
notice. As explained below, the Board
also tentatively agreed with the
Department of Labor that it is
unnecessary for the notice to include
specifically the right of employees who
are not union members and who are
covered by a contractual union-security
clause to refuse to pay union dues and
fees for any purpose other than
collective bargaining, contract
administration, or grievance adjustment.
See Communications Workers v. Beck,
487 U.S. 735 (1988). Id. at 80412-80413.

The Board specifically invited
comment on the statement of employee
rights proposed for inclusion in the
required notice to employees. In
particular, the Board requested
comment on whether the notice
contains sufficient information of
employee rights under the NLRA;
whether it effectively conveys that
information to employees; and whether
it achieves the desired balance between
providing an overview of employee
rights under the Act and limiting
unnecessary and distracting
information. Id. at 80413.

HOUSE_OVERSIGHT_022289
"
IMAGES-011-HOUSE_OVERSIGHT_032203.txt,"33

something which, in turn, is owed to its imperial superstructure. And
as that superstructure became too unwieldy, an emperor like the gruff
soldier Diocletian could allow for the division of the empire itself
into several administrative parts, thus furthering its life span.
America, for its part, is unique in its division of federal, state and
local power over a vast continental landscape, allowing for the full
expression of its boisterous democracy. Say what you will about the
deficiencies of the United States and particularly those of Rome, but
they both indicate a very difficult truth central to the outcome of the
Arab Spring: it is not about the expressions of freedom in Tahrir
Square so much as it is about the building of legitimate institutions to
replace illegitimate ones. And because institutions are hierarchical—
and social media like Twitterand Facebookdismantle existing
hierarchies—revolutions enabled by new technology do not
necessarily lead to the building of governing organizations. Criticism
is not enough, someone must wield power; hopefully in a way less
coercive than before.

Meanwhile, the Arab Spring has raised the pressure on autocrats the
world over to truly be good—or at least better. Though, even if they
are, they can never ultimately get it right, as demonstrated by Mill’s
example of Marcus Aurelius.

Robert D. Kaplan is a foreign correspondent for The Atlantic, a
senior fellow at the Center for a New American Security in
Washington and a member of the Pentagon’s Defense Policy Board.
His most recent book is Monsoon: The Indian Ocean and the Future
of American Power (Random House, 2010).

HOUSE_OVERSIGHT_032203
"
TEXT-001-HOUSE_OVERSIGHT_026866.txt,"From: Richard Kahn 
Sent: 8/1/2018 1:34:23 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Trump urges Attorney General Sessions to stop Mueller probe 'right now' 
Importance: High 
https://www.cnbc.com/20 1 8/08/0 1 /trump-urges-attorney-general-sessions-to-stop-mueller-probe-right-
now.html  
Trump urges Attorney General Sessions to 
stop Mueller probe 'right now' 
Carlos Barria Reuters 
President Donald Trump speaks during a joint news conference with Italy's Prime Minister 
Giuseppe Conte in the East Room of the White House in Washington, July 30, 2018. 
HOUSE OVERSIGHT 026866 
President Donald Trump on Wednesday called on Attorney General Jeff Sessions to end 
Robert Mueller's Russia probe ""right now,"" escalating his attacks on the inquiry. 
""Attorney General Jeff Sessions should stop this Rigged Witch Hunt right now,"" the 
president wrote in a post on Twitter. ""Bob Mueller is totally conflicted, and his 17 Angry 
Democrats that are doing his dirty work are a disgrace to USA!"" 
This is breaking news. Please check back for updates. 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue, 4th Floor 
New York, NY 10022 
Phone 
Fax 
Cell 
HOUSE OVERSIGHT 026867 
"
IMAGES-001-HOUSE_OVERSIGHT_011445.txt,"10

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The final point that the LiButti case directs you to

consider is whether admitting the evidence will advance the
search for truth. And here we have a conspiracy, and I'm using

that term not as a lawyer but as a layperson for this purpose.

Webster's defines to conspire means to join together ina

secret agreement to do an unlawful or wrongful act or an act

which becomes unlawful as a result of a secret agreement. And
so we want to present the conspirator. Now we think that makes

the case that this is highly relevant and also appropriate for

an adverse inference. Again, your Honor could wait to rule on

this at trial, but we think it's clear-cut now.

Of course once you determine that something's

relevant, you then have to consider possible prejudicial

effect. Obviously this is a case in which sex allegations are
going to be at their heart. It's not like we have a business
dispute where somebody wants to throw in sex abuse. We want to

prove, in a case involving a sex conspiracy, what the

conspirators have to say. And there's no prejudice then to

Maxwell in the sense of unfair prejudice. He can ask whatever

questions they deem appropriate as well. But the absence of
the co-conspirators is of course highly prejudicial to

Ms. Giuffre. Naturally the jury is going to wonder, you said

Kellen was reporting to Maxwell. Where is Kellen? That's

going to be the first thing they'll say when they go back into

the jury room. Where are these people? And that's what

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011445
"
IMAGES-008-HOUSE_OVERSIGHT_026385.txt,"Case 1:16-cv-04642 Document 1 Filed 06/20/16 Page 2 of 9

5. This Court has original subject matter jurisdiction with respect to this action
pursuant to 28 U.S.C. § 1332 as there exists complete diversity of citizenship between Plaintiff
and Defendants and the amount in controversy exceeds Seventy Five Thousand Dollars
($75,000.00), exclusive of interest and costs.

6. Defendants are each subject to the jurisdiction of this Court pursuant to 28 U.S.C.
§ 1332 with proper venue pursuant to 28 U.S.C. § 1391 as both defendants are residents of
and/or are domiciled in this district and the events giving rise to the claims occurred in this

district.

RAPE, SEXUAL MISCONDUCT, CRIMINAL SEXUAL ACTS, SEXUAL ABUSE,
FORCIBLE TOUCHING, ASSAULT, BATTERY, INTENTIONAL AND RECKLESS
INFLICTION OF EMOTIONAL DISTRESS, DURESS, AND FALSE
IMPRISONMENT

7. Plaintiff was subject to acts of rape, sexual misconduct, criminal sexual acts,
sexual abuse, forcible touching, assault, battery, intentional and reckless infliction of emotional
distress, duress, false imprisonment, and threats of death and/or serious bodily injury by the
Defendants that took place at several parties during the summer months of 1994. The parties
were held by Defendant Epstein at a New York City residence that was being used by Defendant
Epstein at 9 E. 71st St. in Manhattan. During this period, Plaintiff was a minor of age 13 and
was legally incapable under New York law of consenting to sexual intercourse and the other
sexual contacts detailed herein. NY Penal L § 130.05(3)(a). The rapes in the first, second, and
third degrees; sexual misconduct; criminal sexual acts in the first, second, and third degrees;

sexual abuse in the first, second, and third degrees; and forcible touching (and, on information

HOUSE_OVERSIGHT_026385
"
IMAGES-010-HOUSE_OVERSIGHT_028612.txt,"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? ifthats so. its an easy decision. , if
not. oy

On Tue, Jan 22, 2019 at 9:09 PM Weingarten, Reid ay UmUt~<‘“ti‘C‘OR 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 hi wrote:

Crim

Sent from my BlackBerry 10 smartphone.

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 i. 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
"
IMAGES-001-HOUSE_OVERSIGHT_010983.txt,"Algebra now allows

creation = growth + flow passed out - flow passed in, (3.3a)

since terms can change sides if they reverse signs.

Economics is interested in creation and growth of value. Value in the stock sense
means capital in general. Most economists most of the time use the word to mean
only the “physical capital” we buy and sell. But the truism works for anything. |
sometimes prefer the generality of “value”, meaning any amount of any mix of
human and physical capital. This again can be called either “total capital” or value

interchangeably.

Flow of value passed out is exhaust plus transfer out, and flow passed in is transfer
in. Creation of value is output in the net sense. Then (3.2) and (3.3a) give the total

return rule

output = growth + cash flow. (3.3b)

“Income” means rights to output, and is implicitly equal to output. Like most writers

in economics, I will use these words more or less interchangeably too.

Now comes the centerpiece. A good starting point is the present value rule. We
assemble value or total capital to satisfy foreseen tastes. But we also satisfy current
tastes by spending current cash flow. At the scale of the total capital (value) of the
individual, were reinvestment cancels internally, cash flow simplifies to exhaust in

taste satisfaction plus gift given less gift received. Then

individual cash flow = net gift + exhaust, (3.4)

where net gift means gift given less gift received.

Chapter 3: Foundations 1/11/16 12

HOUSE_OVERSIGHT_010983
"
IMAGES-006-HOUSE_OVERSIGHT_021958.txt,"James PaTTERSON
* * *

the reasons for his resignation, Epstein still gets his
ly $275,000 in today’s Si

nd $100,000 (rough

brings charges against him or any other -_
rticulars of Epstein’s depar- : 3
stery surrounding the man.

Whatever
annual bonus of arou
dollars). The SEC never
Bear Stearns employee. And so the pa

ture get folded up into the greater my
cket ship that Ace Greenberg had given

Did Epstein crash the ro

'
H
i him to pilot? Or did he take it and fly it out, over the horizon?
Fither way, Epstein was out on his own. Be
4 For him, the future would only get brighter. a
| . 4 Ana Obrego
4
na Obre
and we.
she firs!

4 roles—in the
3 the star a run:
| Spanish Playb«
As for forty
Ana's fathe
hhad serious pr
bond-trading fi
lat it was goir.
subsidiary
in May, Di
“Sy on Treasi
ad dragged do

HOUSE_OVERSIGHT_021958
"
IMAGES-007-HOUSE_OVERSIGHT_022818.txt,"Sent: Saturday, August 11, 2018 12:41 PM
To: Martin G. Weinberq
Subject: Re: Viceland

Hello Martin,

Thank you for getting back to me. We would be looking for on record comments or a ""no comment"" to our
questions. But | am certainly happy to have an off record conversation with yourself as well. Perhaps we
could set up a time to chat briefly off record on Monday before | send you our questions for Mr Epstein?

Kind regards,
Matt

On 11 August 2018 at 11:08, Martin G. Weinberg wrote:
Mr Williams, | am in receipt of your emails to Jackie Percyzk. If you first agree that any communications between you
and me are off the record, | would be agreeable to receiving your questions or a clip of the episode that relates to Mr
Epstein. Thanks.

Martin G Weinberg PC
20 Park Plaza

Suite 1000

Boston, MA 02116

Tel
Cel

Virus-free. www.avast.com

HOUSE_OVERSIGHT_022818
"
IMAGES-004-HOUSE_OVERSIGHT_016905.txt,"In short, we need to enable robots to reason about us—to see us as something
more than obstacles or perfect game players. We need them to take our human nature
into account, so that they are well coordinated and well aligned with us. If we succeed,
we will indeed have tools that substantially increase our quality of life.

102

HOUSE_OVERSIGHT_016905
"
IMAGES-006-HOUSE_OVERSIGHT_021780.txt,"lawyers and friends now say he's the hapless victim of a vendetta by Palm Beach Police
Chief Michael Reiter, whom they describe as a ""born-again nut case.""

According to the police investigation, a copy of which was obtained by the Palm Beach
Post, detectives took statements from 17 witnesses and five alleged victims. Haley
Robson, 20, a Palm Beach Community College student who described herself as ""like a
Heidi Fleiss,” says she got naked to give Epstein a massage, then brought him six girls
ages 14-16 for massages and sex at his home. She said they were paid $200 per session.

Cops also allege that Epstein's personal assistant, Sarah Kellen, who hasn't been charged,
set up the liaisons and put fresh sheets on the massage table and supplied massage oils.
Police searched through Epstein's garbage and retrieved sex toys and feminine hygiene
products.

Epstein's Palm Beach lawyer, Jack Goldberger, told Page Six that the Florida state
attorney concluded the cops had looked at evidence from a ""one-sided perspective.” He
added that Epstein had passed an extensive lie-detector test in which he was grilled about
underage girls.

Epstein's New York lawyer, Gerald Lefcourt, said, ""The prosecutor didn't want to bring
any charges in this case, but because of the craziness of this police chief, we have the
charge of solicitation.""

Last night, WPTV in Palm Beach reported that one reason Robson's testimony may have
been dismissed is the kinky Web page she has on MySpace featuring photos of her
female friends playing with sex toys. One friend even uses the name ""Pimpin' Made EZ.""
Robson, who isn't charged, also writes, ""Do what you do to make that money, life is

a gamble. Stay hustling.”

A spokeswoman for Reiter said, ""We think our investigation speaks for itself.""

Cops also allege that [Jeffrey Epstein]'s personal assistant, Sarah Kellen, who hasn't been
charged, set up the liaisons and put fresh sheets on the massage table and supplied
massage oils. Police searched through Epstein's garbage and retrieved sex toys and
feminine hygiene products.

Epstein's Palm Beach lawyer, Jack Goldberger, told Page Six that the Florida state
attorney concluded the cops had looked at evidence from a ""one-sided perspective."" He
added that Epstein had passed an extensive lie-detector test in which he was grilled about
underage girls.

NewYork Post — 09/20/2007

JAIL LOOMS FOR SEX-CASE MOGUL

September 20, 2007 -- THE sordid sex case involving Jeffrey Epstein may
be coming to an unhappy ending -with a plea deal that would put the
publicity-shy billionaire behind bars for 15 months for allegedly soliciting
underage teen girls for sex at his Palm Beach mansion.

HOUSE_OVERSIGHT_021780
"
IMAGES-008-HOUSE_OVERSIGHT_025854.txt,"must make difficult choices about how we carry out our mandate as demand
for our services increases.

We look forward to building on our first four years and continuing our
service of helping anyone—requester or agency—with any part of the FOIA
process and improving the administration of FOIA.

You may notice that this report is slimmer than our first three reports. Please

visit our blog, The FOIA Ombudsman: Information and Advice, where you'll

find many of the items we included in past reports.

Sincerely,

Creituiarn Whaal

Miriam Nisbet

HOUSE_OVERSIGHT_025854
"
IMAGES-009-HOUSE_OVERSIGHT_026914.txt,"5. US 1-10 Treasury Yield Spread — Through October 12, 2018

4
US 1-10 Treasury Yield Spread During 2018
3 12 4
2 1.0 -
0.8
= 1
= 0.51
aaa : 0.6
8 0 0.51
3. 04 | ad
wo
1 0.2 5
-2 0.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct
3
4

193 190 1%7 1974 191 188 195 202 209 2016

Source: Investment Strategy Group, Bloomberg.

6. “Near-Term Forward Spread”* — Through October 12, 2018

“Near-Term Forward Spread” During 2018

1.25
2
1.0 5
S
os) 0.8 | 0.78
os 1
g 0.78 a
2 0.6 -
fou
wn
0.4 -
0
0.2 -
0.0
-1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct
-2

1996 1999 2002 2005 2008 2011 2014 2017

*“Near-Term Forward Spread’ is the implied 3-month forward yield 18-months from now.
Source: Investment Strategy Group, Bloomberg.

HOUSE_OVERSIGHT_026914
"
IMAGES-008-HOUSE_OVERSIGHT_024592.txt,"Presidential Press Bulletin

25 August, 2011

ance! | Scientific American

Is Muammar Qadhafi Clinically Psychotic?
John Matson

Anicle2- | The Financial Times

Why Libya sceptics were proved badly wrong
Anne-Marie Slaughter

Article S- | Foreign Policy

Sinai’s Bedouin run amok in post-Mubarak Egypt
Mohamed Fadel Fahmy

ance |The National Interest

Foreign-Policy Failure
Dimitri K. Simes

Article 5. NYT

Cheney Says He Urged Bush to Bomb Syria in ’07
Charlie Savage

Article ®- | Ma'an News Agency

Palestine and Statehood: An historical overview
Abdullah Abueid

HOUSE_OVERSIGHT_024592
"
IMAGES-010-HOUSE_OVERSIGHT_029524.txt,"Palm House Robert Matthews EB-5 Clintons Trump Tony Bennett https://therealdeal.com/miami/issues_articles/lost-paradise-at-th...

5 of 10

MHyoo

~~ ""SOUTH FLORIDA REAL ESTATE NEWS
Q SUBSCRIBE MY ACCOUNT

By the books?

To legally get EB-5 investors to put money into his project, Matthews was required to
go through a regional center regulated by U.S. Citizenship and Immigration Services

under the Department of Homeland Security.

So, he tapped Walsh — a South Florida resident who had a specious track record with
development projects — to raise the money through SARC. While it’s unclear how the
two met, Walsh allegedly lent Matthews more than $5 million of the foreign investors’

funds to keep his Palm Beach mansion from being foreclosed on.

(Click to enlarge)

In March 2014, Matthews sent Walsh an email to thank him for “saving [his] house,”

according to the SEC complaint.

As more developers turned to EB-5 for cheap financing after the financial crisis, more
regional centers received approval from the USCIS. From late 2014 to June 2019, the
number of regional centers in the U.S. jumped nearly 60 percent to 884, according to
USCIS. At the same time, close to 300 regional centers have been shuttered since
2007.

That high failure rate among EB-5 regional centers stems from an approval process

6/26/19, 11:57 AM

HOUSE_OVERSIGHT_029524
"
IMAGES-001-HOUSE_OVERSIGHT_010773.txt,"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, 2013)
(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 23°°° day of November, 2015.

/s/ Jack Scarola

Jack Scarola

Florida Bar No.: 169440

Attorney E-Mail(s): jsx@searcylaw.com and
mep@searcylaw.com

Primary E-Mail: _scarolateam@searcylaw.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

HOUSE_OVERSIGHT_010773
"
IMAGES-010-HOUSE_OVERSIGHT_030075.txt,"16

If only the Syrians could be brought around, presidents have believed
for generations, life would be so much easier. The United States
wasn't alone in this illusion -- the Israelis, Arabs, Europeans,

and Russians felt the same way. Like the Wall Street banks, Syria was
then, as it is now, judged as simply too big to fail. There was
something perversely comforting about having the Assads around.

I had my own fair share of illusions during my government career,
but the Assads were never one of them. I could never quite
understand my colleagues' fascination with the brutal Syrian regime.
To me, Bashar al-Assad was a brutal dictator who wanted to be the
Frank Sinatra of the Middle East -- obsessed with doing things his
own way to the point that he priced himself out of peace with Israel
and a relationship with the United States. It's striking that every other
Arab state, with the possible exception of Libya, managed to
establish a close relationship with the United States. Not Assad.
Third, Obama's approach toward Syria has been managed by the
realists. This stands in contrast with his Libya policy, where liberal
interventionists in the administration and neocons outside clamored
for action. This group of realists includes the president, who knows
his options on Syria aren't great. He's being told that American
leverage isn't great and that if he calls for Assad's head and the Syrian
despot survives, he'll have lost access to a key player in the region.
And after all, what could he do that would deter a regime in a fight
for its life? Pull U.S. Ambassador Robert Ford from Damascus?
Impose a travel ban on Assad and his family? Press the Europeans to
freeze Assad's money?

In a world of symbols, these steps may make an important point
about American values. However, none of them will make a
difference in how events play out in Syria.

Simply put, the Obama administration is worried about creating

a worse situation if Assad falls. Take your pick of scary scenarios:

HOUSE_OVERSIGHT_030075
"
IMAGES-006-HOUSE_OVERSIGHT_021970.txt,"James PaTTERSON

ry yacht, and a Long Island mansion

anhattan apartment. He'd also briefly
‘the New York Post.

bought his own jet, a luxu
to go with his expensive M
owned a controlling interest in
To cover his tracks, Hoffenberg had been taking money from
investors and using it to pay previous investors. It was a classic
e—one of the biggest in history —and Hoffenberg
in a federal prison.
din the case? All that Hoffen-

Ponzi schem
ended up spending nineteen years

Why was Epstein not implicate
“Ask Robert Gold.”

hat Gold, the former federal prose-
+ Ana Obregon's money,
til there were only a

berg will say when asked is:
Another source suggests ¢
cutor who had helped Epstein recove
kept the US attorney away from Epstein un

few weeks left before the statute of limitations ran out.
As for Epstein himself, he would always deny any wrong-

doing. Despite his proximity to Hoffenberg, he managed to avoid

the blast radius.

ee taal
eb ie
~icpcnincamalciiad ti

a i Robert Meister: 1985

Ni obert Meister, the vic

kerage and consulting

in the mid-eighties,
_ Palm Beach. Both men were
q the other looked familiar. Th
‘ and Meister filed the conver:
7 At that time, Les Wexner, w
4 of Meister’s insurance comp
q the people managing his mo
3 Wexner was a billionaire
were in a tangle. Maybe Epst
i ould also be grateful for the
. ere's evidence to suggest th
‘ last Bear Stearns bonus—
4 covered for Ana Obregon—

HOUSE_OVERSIGHT_021970
"
IMAGES-007-HOUSE_OVERSIGHT_024299.txt,"What’s that my mother used to say about “if you can’t stand the heat then get out of the
kitchen.” He we have THE PRESIDENT of the United States giving childish and bullish...

Read More »

What do they say in French at a restaurant when asking the customers “for
here or to go?”

Catheléne Dechesne, knows French
Updated Jun 24

Hello! ’'m French, and I would love to answer this question for you :)

In France, when ordering a meal at a restaurant, if the waiter/waitress asks a customer “for here
or t...

Read More »

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HOUSE_OVERSIGHT_024299
"
IMAGES-001-HOUSE_OVERSIGHT_012164.txt,"KIRKLAND & ELLIS LLP
Villafana emailed the defense stating that United States Attorney Acosta would accept no
less than 18 months of incarceration, following by a one-year term of house arrest.

Federal Prosecutors Misrepresented the Number of Alleged “Victims.”

17. In September 2007, in order to add additional pressure on Mr. Epstein to execute a
deferred prosecution agreement, AUSA Villafana claimed that there were “40” minors on
the government’s list of purported § 2255 victims. To compound that misleading
characterization, she continued to insist that a guardian-ad-litem be appointed to represent
these purported “minors” in the proceedings. See Tab 24, September 19, 2007 Email
from M. Villafana to J. Lefkowitz.

18. When challenged as to whether there was a genuine need for a guardian, given that Ms.
Villafana continued to refuse to disclose the names or any other information about her
putative list of “minors,” she eventually conceded that only “I is definitely under 18 still,
and I think there is another minor.” See Tab 25, September 23, 2007 Email from M.
Villafana to J. Lefkowitz (emphasis added).

19, The next day, AUSA Villafana retreated from the number “40,” stating that she had now
“compiled a list of 34 confirmed minor victims with no definition of how they would be
considered as such.. There are six others, whose names we already have, who need to be
interviewed by the FBI to confirm whether they were 17 or 18 at the time of their activity
with Mr. Epstein.” See Tab 26, September 24, 2007 Email from M. Villafana to J.
Lefkowitz (emphasis added). This statement indicated that, at least the “six others” (and,
as it turns out, all those identified except two) had reached the age of majority, and, in
fact, no guardian was necessary to represent their interests.

Defense Counsel was Falsely Advised That the Non Prosecution Agreement Would Be Kept
Confidential.

20. On September 24, Epstein and the USAO executed a Non Prosecution Agreement.

21. His attorneys asked Ms. Villafana to “please do whatever you can to keep this from
becoming public.” See Tab 27, September 24, 2007 Email from J. Lefkowitz to M.
Villafana.

22. Ms. Villafana replied that she had “forwarded your message only to Alex [Acosta], Andy
[Lourie], and Rolando [Garcia]. I don’t anticipate it going any further than that.” Jd.

23. Ms. Villafana stated that the agreement would be “placed in the case file, which will be
kept confidential since it also contains identifying information about the girls.” Jd.

The Prosecution Immediately Notifies Three Plaintiffs That Mr. Epstein Has Executed A
Non Prosecution Agreement

24. —_ In direct violation of these representations, “shortly after the signing,” the government
notified “three victims” of the “general terms” of the Non Prosecution Agreement. See

HOUSE_OVERSIGHT_012164
"
IMAGES-007-HOUSE_OVERSIGHT_022830.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

HOUSE_OVERSIGHT_022830
"
IMAGES-011-HOUSE_OVERSIGHT_031722.txt,"The Saudis are reliable defenders of the West’s diverse interests in the
region, and have been America’s principal ally in the Middle East for
more than seventy years. The confused notion that Saudi Arabia is
synonymous with radical Islam is falsely based on the Western notion
that “one size fits all.” Fundamentalists supporting the Islamic State in
the Kingdom violate the rule of law at home, and the Saudis’ strong
efforts to prevent the export of terrorism. Saudi senior leaders desire
good relations with the West and see the Islamic State and Jihadist
terrorism as threatening to their very rule. Through the safeguarding
of the Holy Cities of Mecca and Medina, which remain open to tens of
millions of foreign visitors and differing Islamic beliefs, the Kingdom
has a unique window into the actions and motivations of radical
fundamentalists who pass in and out of those always accessible cities.
By sharing that intelligence, the Saudis greatly enhance America’s
security.

Like it or not, the military option most unpopular with America’s
voters and politicians may be its best. Bashar Assad may well be our
only hope in fighting the various terrorist factions that are attempting
to form an ISIS state. If America agrees that putting boots on the
ground would be impractical and ineffective, then a self-governed
“Syria State” must be the entity that reaches settlements with the
various factions that are causing the mass migration of thousands of
Syrians to Europe, the USA and elsewhere. The only solution is one
that works with Russia and not against them. Our vacuum forced that
hand, because we are no longer the lonesome superpower shaping
Middle East foreign policy.

When the USA had a narrow set of interests during the Cold War era,
acting prudently in favor of well-defined and communicated
objectives, its actions were more effective. But as the objectives
changed, and America attempted to democratize autocracies, the
broadening of goals led to a corresponding weakening of results. A
clear direction in the Middle East is imperative, not just to enhance
Middle Eastern nation-state interests, but to protect US interests at
home, as well as abroad.

HOUSE_OVERSIGHT_031722
"
IMAGES-003-HOUSE_OVERSIGHT_015944.txt,"254 Are the Androids Dreaming Yet?

chaotic equation so complex that the only way to see it is to run the
program and watch the output: no form of program analysis will give
you any clue as to what it produces. There is only one stipulation. The
answer to problem Y MUST be held within the program as a computable
algorithm. Put another way, the computer must already be ‘programmed’
to answer the question.

Could a human mathematician be pre-programmed from birth?
Yes, there is no fundamental objection to this. Mathematicians could be
born to solve the problems they solve. But this would present a couple of
issues. Where is this program stored? And who, or what, programmed
the mathematician? Could we perhaps find an experiment to determine
whether mathematicians are pre-programmed?

One view held by philosophers is that the Universe programmed
the mathematician. They believe we live in an entirely determined
Universe with no free will. There is then no mystery as to how Andrew
Wiles came up with his proof. He was destined to do it from the dawn of
time. The ink that fell from his pen to the paper was always going to fall
in just that way. We live in a clockwork Universe and although we might
feel we have free will, this is an illusion. I simply don’t believe this. If I
am right and humans do exercise free will, Andrew Wiles cannot be a
computer. And because Andrew is not alone in discovering proofs, those
mathematicians cannot be computers either. Humans are, therefore, not
computers.

The Chance Objection

I said there was no automatic way to solve any problem above the
logic limit, but this is not quite true. There is one automatic method
you could deploy to generate a non-computable proof, the infamous
‘monkeys and typewriters’ idea where we use random chance to generate
information. Many people have suggested it is possible to write a play
such as Shakespeare's Hamlet by simply typing random characters until
we happened upon the play. The argument is flawed.

The first flaw is the process would take a super-astronomically
long time. Even if every atom in the Universe were a monkey with a
typewriter, it would take orders of magnitude longer than the age of the
known Universe to come up with the script to a play or a mathematical
proof.

The probability of finding a solution to Fermat’s Last Theorem
by chance is about 1 in 10°°. That’s 1 with 50,000 zeros after it. For a
comparison, there are only 10’ atoms in the known Universe. To be, or

HOUSE_OVERSIGHT_015944
"
IMAGES-003-HOUSE_OVERSIGHT_014482.txt,"Rotation trade — valuations have moved a long way

While technical metrics suggest a pause is due in the reflation rotation, we have also
seen a significant amount of ground covered from a valuation perspective in the market
moves to date.

The scatter chart below compares the PE relative change since 8th July (the post Brexit
valuation high / low for many sectors) against where PE relative ranks now compared to
history. Essentially sectors in the top right have enjoyed a relative multiple re-rating and
current relative PE levels are above the median since 1999. Those in the bottom left
have seen relative PE multiples de-rate while their current relative PE is below the
median since 1999. We make the following observations:

e Financials have had the biggest re-rating. Financials re-rated most since
Brexit and are now trading around median relative valuation levels. Given the
tight link between relative valuations and bond yields in recent years the PE-
relatives for Banks and Insurance have also recovered much more than would
seem justified by the move in the German 10-year yield. The sectors do screen
cheaper versus history on PBV reflecting relatively depressed ROEs especially
for Banks. Hence, we think PE multiple expansion from here would need to be
driven by improving EPS prospects in the sector — something our analysts are

sceptical about.

¢ Global Cyclicals trading near or below average relative PE’s. Many global
cyclicals have had fairly modest re-ratings since early July and trade on close to
median or below valuations. Sectors such as Industrials, Chemicals, Autos, Tech
have relative PE multiples 5-10% higher than post Brexit. Relative PE for
Chemicals and Industrials are close to post 1999 averages. Construction PE
relative does screen as elevated — at the 92""? percentile. Autos, Tech and Travel
& Leisure all have PE relatives in the bottom quartile of their post 1999 range.
Relative PE valuations look very reasonable on this basis for Tech, Chemicals
and even industrials. In part this may reflect higher than historical average ROE
— relative PBV is less flattering for Industrials for example.

e Resources sectors — de-rating as EPS recovers. Oil and Basic Resources PE
relative has declined more than in any other sector. Although both sectors have
seen strong price performance this year, PE multiples are declining from very
elevated levels earlier this year as earnings bounce back from depressed levels.
Since the end of June Basics 12m forward EPS is up +65%, while the sector
index price has risen +33%. For Basics and Oil, performance from here is likely
to remain a function of EPS momentum rather than valuations.

e Defensives have all de-rated with Telecoms suffering least. Defensive
sectors have all seen relative valuations decline over the past four months.
Healthcare and Utilities are the two sectors with multiples at lower end of the
historical range — notably Healthcare at the 14 percentile. Utilities relative PE
is also close to the prior low hit in 2013. Telecoms screens as somewhat less
depressed form a valuation perspective — notwithstanding the poor sector
performance in 2016. PE relative remains well above the median levels since
1999.

e Staples approaching 2010/14 lows on PE-relative. Staples have also de-
rated severely — in fact Food & Beverage relative PE fell somewhat more than
the other Defensives. However, current levels are still somewhat higher versus
the historical range (since 1999) than for Healthcare or Utilities. That being
said, the PE-relative rose structurally through the 2000s. Over a shorter time
frame since 2010 Food & Beverage is also now trading near the bottom
quartile. PE-relative is 6-10% above the lows seen in 2010 and 2014 — but
those would still allow for healthy 25-30% valuation premiums to the market .

Bankof America

Merrill Lynch European Equity Strategy |O1 December 2016 23

HOUSE_OVERSIGHT_014482
"
TEXT-001-HOUSE_OVERSIGHT_022396.txt,"From: 
Sent: 
To: 
11/22/2016 5:55:37 PM 
Jeffrey [jeeyacation@gmail.com] 
Importance: High 
My Mom's childhood friend from Ukraine reached out to her - she works for Oleksandr Vilkul (Ukraninan 
opposition leader), asked if I could help organize the invitation to the Trump inauguration for a high reward. 
Shall I find out the details or drop it? Any interest in meeting them at all 
I personally don't know Tamara (my Mom's friend) and my Mom hasn't seen her for years 
HOUSE OVERSIGHT 022396 
"
IMAGES-011-HOUSE_OVERSIGHT_031044.txt,"Flags: 1

Is Read:

093637

Yes

Is Invitation: No

GUID: O0BB20873-A930-447A-8086-E0C2E04369C0

Message:

Though I am tired of bomb sniffing dogs in my bedroom

Sender:

Time: O01
Flags: 1

Is Read:

/26/18 02:10:26 AM (538654226)
060865

Yes

Is Invitation: No

GUID: 951383F4-F0B0-4279-B143-1534D7D8121D
Message: Enjoy.

Sender: e:jeeitunes@gmail.com

Time: 01/26/18 02:12:36 AM (538654356)
Flags: 1093637

Is Read: Yes

Is Invitation: No

GUID: 20

Message:

EA5C68-6583-415A-9189-B7023681 9601

Gl

Many leaders just find it very difficult to grasp trump. While it is obvious
but hard to truly believe

Sender: e:jeeitunes@gmail.com

Time: 01/26/18 02:12:51 AM (538654371)
Flags: 1093637

Is Read: Yes

Is Invitation: No

GUID: 4BCE7C2E-57B5-4005-8D25-38D80A2BF331

Message:

Ex . He is not rich

Sender: iy

Time: O01
Flags: 1

Is Read:

/26/18 02:15:13 AM (538654513)
060865

Yes

Is Invitation: No

GUID: 28

Message:

634BA1-5C08-4650-8525-5E8A521C1ABF

Have fun

HOUSE_OVERSIGHT_031044
"
IMAGES-007-HOUSE_OVERSIGHT_023290.txt,"Source: The Daily Telegraph {Main}

Edition:

Country: UK

Date: Friday 15, September 2017 Gorkana
Page: 28

Area: 996 sq. cm

Circulation: ABC 477927 Daily
Ad data: page rate £46,000.00, scc rate £214.00
Phone: 020 7931 2000

Keyword: National Theatre (National)

BRINKHOF F-MOEGENBURG; AP

JT Rogers, far
right, and the NT
production of Osfo,
above. Clinton
with Netanyahu
and Arafat in

1993, below

Reproduced by Gorkana under licence from the NLA (newspapers), CLA (magazines), FT (Financial Times/ft.com) or other copyright owner. No further

copying (including printing of digital cuttings), digital reproduction/forwarding of the cutting is permitted except under licence from the copyright

owner. All FT content is copyright The Financial Times Ltd. ,
Article Page 4 of 4

401552537 - NICTHO - A23578-1 - 129616737

HOUSE_OVERSIGHT_023290
"
IMAGES-005-HOUSE_OVERSIGHT_019931.txt,"anymore? In some of his earliest political outings, even before Obama’s election in 2008,
Trump talked with bewilderment and resentment about strict quotas on European
immigration and the deluge from “Asia and other places.” (This deluge, as liberals would
be quick to fact-check, was, even as it had grown, still quite a modest stream.) His
obsessive focus on Obama’s birth certificate was in part about the scourge of non-
European foreignness—a certain race-baiting. Who were these people? Why were they
here?

The campaign sometimes shared a striking graphic. It showed a map of the country
reflecting dominant immigration trends in each state from fifty years ago—here was a
multitude of countries, many European. Today, the equivalent map showed that every state
in the United States was now dominated by Mexican immigration. This was the daily
reality of the American workingman, in Bannon’s view, the ever growing presence of an
alternative, discount workforce.

Bannon’s entire political career, such as it was, had been in political media. It was also
in Internet media—that is, media ruled by immediate response. The Breitbart formula was
to so appall the liberals that the base was doubly satisfied, generating clicks in a ricochet
of disgust and delight. You defined yourself by your enemy’s reaction. Conflict was the
media bait—hence, now, the political chum. The new politics was not the art of the
compromise but the art of conflict.

The real goal was to expose the hypocrisy of the liberal view. Somehow, despite laws,
rules, and customs, liberal globalists had pushed a myth of more or less open immigration.
It was a double liberal hypocrisy, because, sotto voce, the Obama administration had been
quite aggressive in deporting illegal aliens—except don’t tell the liberals that.

“People want their countries back,” said Bannon. “A simple thing.”

7 OK Ok

Bannon meant his EO to strip away the liberal conceits on an already illiberal process.
Rather than seeking to accomplish his goals with the least amount of upset—keeping
liberal fig leaves in place—he sought the most.

Why would you? was the logical question of anyone who saw the higher function of
government as avoiding conflict.

This included most people in office. The new appointees in place at the affected
agencies and departments, among them Homeland Security and State—General John
Kelly, then the director of Homeland Security, would carry a grudge about the disarray
caused by the immigration EO—wanted nothing more than a moment to get their footing
before they might even consider dramatic and contentious new policies. Old appointees—
Obama appointees who still occupied most executive branch jobs—found it unfathomable
that the new administration would go out of its way to take procedures that largely already
existed and to restate them in incendiary, red-flag, and ad hominem terms, such that

HOUSE_OVERSIGHT_019931
"
TEXT-002-HOUSE_OVERSIGHT_033023.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 9/9/2017 12:34:28 AM 
To: anasalrasheec 
Subject: Re: 
Importance: High 
See you I in. Ew york thurs? 
On Fri, Sep 8, 2017 at 11:48 PM <anasalrasheed > 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, <anasalrasheed1111> 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, <anasalrasheed> 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 033023 
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 033024 
"
IMAGES-003-HOUSE_OVERSIGHT_016295.txt,"concept of “Pareto-topia”: the idea that AI, if done right, can bring about a future in
which everyone ’s lives are hugely improved, a future where there are no losers. A key
realization here is that what chiefly prevents humanity from achieving its full potential
might be our instinctive sense that we’re in a zero-sum game—a game in which players
are supposed to eke out small wins at the expense of others. Such an instinct 1s seriously
misguided and destructive in a “game” where everything is at stake and the payoff is
literally astronomical. There are many more star systems in our galaxy alone than there
are people on Earth.

Hope

As of this writing, I’m cautiously optimistic that the Al-risk message can save humanity
from extinction, just as the Soviet-occupation message ended up liberating hundreds of
millions of people. As of 2015, it had reached and converted 40 percent of AI
researchers. It wouldn’t surprise me if a new survey now would show that the majority
of AI researchers believe AI safety to be an important issue.

I’m delighted to see the first technical Al-safety papers coming out of DeepMind,
OpenAI, and Google Brain and the collaborative problem-solving spirit flourishing
between the Al-safety research teams in these otherwise very competitive organizations.

The world’s political and business elite are also slowly waking up: AI safety has
been covered in reports and presentations by the Institute of Electrical and Electronics
Engineers (IEEE), the World Economic Forum, and the Organization for Economic
Cooperation and Development (OECD). Even the recent (July 2017) Chinese AI
manifesto contained dedicated sections on “AI safety supervision” and “Develop[ing]
laws, regulations, and ethical norms” and establishing “an AI security and evaluation
system” to, among other things, “[e]nhance the awareness of risk.” I very much hope that
a new generation of leaders who understand the AI Control Problem and AI as the
ultimate environmental risk can rise above the usual tribal, zero-sum games and steer
humanity past these dangerous waters we are in—thereby opening our way to the stars
that have been waiting for us for billions of years.

Here’s to our next hundred thousand years! And don’t hesitate to speak the truth,
even if your voice trembles.

75

HOUSE_OVERSIGHT_016295
"
IMAGES-005-HOUSE_OVERSIGHT_020168.txt,"16

PART ONE

THE INTELLIGENCE CRISIS

HOUSE_OVERSIGHT_020168
"
TEXT-001-HOUSE_OVERSIGHT_019300.txt,"﻿WE Talks



Women Empowerment: Women to Women Talks



Our mission is to support and enhance women’s professional and personal growth and fulfillment. 

We are deeply committed to providing achievement-driven women with inspiration, guidance, and elevating networking opportunities networking. 








We organize and conduct seminars with female speakers who are leaders in their industry.
Our seminal approach can me likened to “TED Talks for Women.” The speaker shares the secrets of her professional and personal success with the audience and answers the questions. The discussions will include, but won’t be limited to the following topics: How to pursue a career of your dream? What makes you feel empowered? How to build one of a kind brand? How to achieve both self-realization in professional life and fulfillment personal life? 



Our first seminar is going to take place in NYC on April 5th. Consequently, we will be conducting one seminar every month.



Kathy Ruemmler is going to be the first speaker.




Kathy is an attorney who formerly served as White House Counsel to President Barack Obama. She previously worked as Principal Deputy White House Counsel. 
Kathryn Ruemmler is global co-chair of the white-collar defense and investigations practice at Latham & Watkins. She rejoined the firm after five years in the Obama administration, first in the Department of Justice and then as President Obama's chief lawyer, when she headed a team of around 45 lawyers and staff in the White House Counsel's office. Obama has said she has “an uncanny ability to see around the corners that no one else anticipates.” Earlier in her career, Ruemmler was a federal prosecutor who helped secure the convictions of former Enron executives Kenneth Lay and Jeff Skilling.















2


"
IMAGES-010-HOUSE_OVERSIGHT_029242.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 12/2/2015 5:52:40 PM
To: Lesley Groff as
Subject: Fwd: Poetry Update and Thank You

Importance: — High

a Forwarded message ----------

From: Lisa New <{[s

Date: Wednesday, 2 December 2015
Subject: Poetry Update and Thank You
To: ""jeffrey E."" <jeevacation@gmail.com>

That's ideal. Larry's away and I'll be working all day. I'm free any time.

On Wed, Dec 2, 2015 at 10:31 AM, jeffrey E. <jeevacation@gmail.com> wrote:
I'm in Cambridge sat?

On Wednesday, 2 December 2015, Lisa New SF wrote:

Dear Jeffrey,

May | drop by before the New Year (perhaps on the 9th, or on the 17th or 18th?) to get your advice
about my renewal of the Templeton campaign, and also my needs in the coming year for Poetry in
America? Below is the letter I'm sending out to my friends and supporters, and at the bottom a
message just for you....

-Lisa

That you are receiving this letter means that you are among a special community of friends whose
support— financial, moral, intellectual, logistical— has allowed my initiative, Poetry in America, to
realize what seemed, a year ago, almost certainly too ambitious a vision. That vision was to
produce the highest quality educational video on American poetry, creating a body of
humanities content capable of reaching a broad community of learners: formal and informal,
online and residential, young and old, American and international. And it was to

begin— rapidly— to disseminate and distribute our work.

Whether you donated to Poetry in America through Filmmaker’s Collaborative (our 501c3 fiscal
sponsor), through Harvard, or through WGBH; whether you appeared on camera or talked an
elusive friend into appearing on camera to discuss a poem; whether you lent us your film crew, or
provided overnight use of your hotel suite or apartment or of your whole skyscraper; whether you
highlighted our work on your stage, or talked your colleagues into becoming corporate sponsors;
whether you flew to Boston to install state-of-the-art editing and video storage equipment, or asked
your children’s school to let us film there; whether you encouraged your family foundation to take an
interest in the project, or gave us a lesson in IP, in licensing, in the rudiments of finance, or of
distribution; whether you praised, or gave timely, much-needed criticism— you enabled what we
have done.

HOUSE_OVERSIGHT_029242
"
TEXT-001-HOUSE_OVERSIGHT_030786.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 4/10/2018 9:01:05 AM 
To: Jabor Y. 
Subject: from ny times today 
While Mr. Bannon and Mr. Trump have yet to repair their rift, the president's moves against China represent a 
policy victory for his excommunicated aide. During his final weeks in the White House, Mr. Bannon kept a 
whiteboard in his office, on which he had scrawled a calendar for trade actions against China, the European 
Union and others. 
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 030786 
"
IMAGES-002-HOUSE_OVERSIGHT_013968.txt,"up foreign fun faster than having to sign original documents when faxes are unacceptable.

> One month out—
Speak to the manager of your local post office and have all mail forwarded to a friend, family member,

or personal assistant,2who will be paid $100-200 per month to e-mail you brief descriptions of all
nonjunk mail each Monday.

Get all required and recommended immunizations and vaccinations for your target region. Check the
Centers for Disease Control and Prevention (www.cdc.gov/travel/). Note that proof of immunizations is
sometimes required to pass through foreign customs.

Set up a trial account with GoToMyPC or similar remote-access software and take a dry run to ensure
that there are no technological glitches. 2

If resellers (or distributors) still send you checks—the fulfillment house should handle customer
checks at this point—do one of three things: give the resellers direct bank deposit information (ideal),
have the fulfillment house handle these checks (second choice), or have the resellers pay via PayPal or
mail checks to one of the people you are trusting with power of attorney (far third). In the last case, give
the person with power of attorney deposit slips so he or she can sign or stamp and mail in the checks. It
is convenient to become a member of a large bank (Bank of America, Wells Fargo, Washington Mutual,
Citibank, etc.) with branches near the person assisting you so that they can drop off the deposits while
running other errands. No need to move all accounts to this bank if you don’t want to; just open a single
new account that is used solely for these deposits.

= Two weeks out—

Scan all identification, health insurance, and credit/debit cards into a computer from which you can print
multiple copies, several to be left with family members and several to be taken with you in separate
bags. E-mail the scanned file to yourself so that you can access it while abroad if you lose the paper
copies.

If you are an entrepreneur, downgrade your cell phone to the cheapest plan and set up a voicemail
greeting that states, “I am currently overseas on business. Please do not leave a voicemail, as I will not
be checking it while gone. Please send me an e-mail at__ @__.com if the matter is important. Thank you
for your understanding.” Then set up e-mail autoresponders that indicate responses could take up to
seven days (or whatever you decide for frequency) due to international business travel.

If you are an employee, consider getting a quad-band or GSM-compatible cell phone so that the boss
can contact you. Get a BlackBerry only if your boss will be checking to see if you are working via e-
mail. Be sure to disable the dead giveaway “Sent from a BlackBerry” signature on outgoing e-mail!
Other options include using a Skypeln account that forwards to your foreign cell phone (my preference)
or a Vonage IP box that allows you to receive landline calls anywhere in the world via a phone number
that begins with your home area code.

Find an apartment for your ultimate mini-retirement destination or reserve a hostel or hotel at your
starting point for three to four days. Reserving an apartment before you arrive is riskier and will be much
more expensive than using the latter three to four days to find an apartment. I recommend hostels for the
starting point if possible—not for cost considerations but because the staff and fellow travelers are more
knowledgeable and helpful with relocations.

Get foreign medical evacuation insurance if needed for peace of mind. This tends to be redundant if

HOUSE_OVERSIGHT_013968
"
IMAGES-005-HOUSE_OVERSIGHT_019925.txt,"OOK Ok

But if Halberstam defined the presidential mien, Trump defied 1t—and defiled it. Not a
single attribute would place him credibly in the revered circle of American presidential
character and power. Which was, in a curious reversal of the book’s premise, just what
created Steve Bannon’s opportunity.

The less likely a presidential candidate is, the more unlikely, and, often, inexperienced,
his aides are—that is, an unlikely candidate can attract only unlikely aides, as the likely
ones go to the more likely candidates. When an unlikely candidate wins—and as outsiders
become ever more the quadrennial flavor of the month, the more likely an unlikely
candidate is to get elected—ever more peculiar people fill the White House. Of course, a
point about the Halberstam book and about the Trump campaign was that the most
obvious players make grievous mistakes, too. Hence, in the Trump narrative, unlikely
players far outside the establishment hold the true gentus.

Still, few have been more unlikely than Steve Bannon.

At sixty-three, Bannon took his first formal job in politics when he joined the Trump
campaign. Chief Strategist—his title in the new administration—was his first job not just
in the federal government but in the public sector. (“Szrategist!” scoffed Roger Stone,
who, before Bannon, had been one of Trump’s chief strategists.) Other than Trump
himself, Bannon was certainly the oldest inexperienced person ever to work in the White
House.

It was a flaky career that got him here.

Catholic school in Richmond, Virginia. Then a local college, Virginia Tech. Then seven
years in the Navy, a lieutenant on ship duty and then in the Pentagon. While on active
duty, he got a master’s degree at Georgetown’s School of Foreign Service, but then he
washed out of his naval career. Then an MBA from Harvard Business School. Then four
years as an investment banker at Goldman Sachs—his final two years focusing on the
media industry in Los Angeles—but not rising above a midlevel position.

In 1990, at the age of thirty-seven, Bannon entered peripatetic entre-preneurhood under
the auspices of Bannon & Co., a financial advisory firm to the entertainment industry. This
was something of a hustler’s shell company, hanging out a shingle in an industry with a
small center of success and concentric rings radiating out of rising, aspiring, falling, and
failing strivers. Bannon & Co., skirting falling and failing, made it to aspiring by raising
small amounts of money for independent film projects—none a hit.

Bannon was rather a movie figure himself. A type. Alcohol. Bad marriages. Cash-
strapped in a business where the measure of success is excesses of riches. Ever scheming.
Ever disappointed.

For a man with a strong sense of his own destiny, he tended to be hardly noticed. Jon

HOUSE_OVERSIGHT_019925
"
IMAGES-003-HOUSE_OVERSIGHT_016281.txt,"the (currently) esoteric domain of self-reproducing machines—to the power and
versatility of neurons and their synapses. This could become a new, great frontier of
research. Here too, biology might point the way, as we come to understand biological
development well enough to imitate its essence.

Altogether, the advantages of artificial over natural intelligence appear
permanent, while the advantages of natural over artificial intelligence, though substantial
at present, appear transient. I’d guess that it will be many decades before engineering
catches up, but—barring catastrophic wars, climate change, or plagues, so that
technological progress stays vigorous—few centuries.

If that’s right, we can look forward to several generations during which humans,
empowered and augmented by smart devices, coexist with increasingly capable
autonomous Als. There will be a complex, rapidly changing ecology of intelligence, and
rapid evolution in consequence. Given the intrinsic advantages that engineered devices
will eventually offer, the vanguard of that evolution will be cyborgs and superminds,
rather than lightly adorned Homo sapiens.

Another important impetus will come from the exploration of hostile
environments, both on Earth (e.g., the deep ocean) and, especially, in space. The human
body is poorly adapted to conditions outside a narrow band of temperatures, pressures,
and atmospheric composition. It needs a wide variety of specific, complex nutrients, and
plenty of water. Also, it is not radiation-hardened. As the manned space program has
amply demonstrated, it is difficult and expensive to maintain humans outside their
terrestrial comfort zone. Cyborgs or autonomous AIs could be much more effective in
these explorations. Quantum Als, with their sensitivity to noise, might even be happier in
the cold and dark of deep space.

In a moving passage from his 1935 novel Odd John, science fiction’s singular
genius Olaf Stapledon has his hero, a superhuman (mutant) intelligence, describe Homo
sapiens as “the Archaeopteryx of the spirit.” He says this, fondly, to his friend and
biographer, who is a normal human. Archaeopteryx was a noble creature, and a bridge to
greater ones.

61

HOUSE_OVERSIGHT_016281
"
TEXT-001-HOUSE_OVERSIGHT_031498.txt,"From: Thomas Jr., Landon 
Sent: 10/19/2016 1:42:43 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Saudi money 
Importance: High 
Too high? Too low? 
On Wed, Oct 19, 2016 at 9:42 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
no 
On Wed, Oct 19, 2016 at 9:41 AM, Thomas Jr., Landon < > 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:) 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
HOUSE OVERSIGHT 031498 
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 
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 031499 
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 031500 
"
TEXT-002-HOUSE_OVERSIGHT_032329.txt,"From: Miller, Michael 
Sent: 11/4/2016 10:14:16 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
CC: Weingarten, Reid _____________________________________ 
Subject: JE 
Importance: High 
1 l 
i Privileged Redacted 
i i 
i _ i 
i i 
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From: NYSD ECF Pool@nysd.uscourts.gov [mailto:NYSD ECF Pool@nysd.uscourts.gov] 
Sent: Friday, November 04, 2016 5:59 PM 
To: CourtMail@nysd.uscourts.dov  
Subject: Activity in Case 1:16-cv-07673-RA Doe v. Trump et al Notice of Voluntary Dismissal 
This is an automatic e-mail message generated by the CM/ECF system. Please DO NOT RESPOND to 
this e-mail because the mail box is unattended. 
***NOTE TO PUBLIC ACCESS USERS*** Judicial Conference of the United States policy permits 
attorneys of record and parties in a case (including pro se litigants) to receive one free electronic copy of 
all documents filed electronically, if receipt is required by law or directed by the filer. PACER access fees 
apply to all other users. To avoid later charges, download a copy of each document during this first 
viewing. However, if the referenced document is a transcript, the free copy and 30 page limit do not 
apply. 
U.S. District Court 
Southern District of New York 
Notice of Electronic Filing 
The following transaction was entered by Meagher, Thomas on 11/4/2016 at 5:59 PM EDT and filed on 
11/4/2016 
Case Name: Doe v. Trump et al 
Case Number: 1:16-cv-07673-RA  
Filer: Jane Doe 
Document Number: 15 
Docket Text: 
NOTICE OF VOLUNTARY DISMISSAL Pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of 
Civil Procedure, the plaintiff(s) and or their counsel(s), hereby give notice that the above-
captioned action is voluntarily dismissed, against the defendant(s) All Defendants. Document 
filed by Jane Doe. (Meagher, Thomas) 
1:16-cv-07673-RA Notice has been electronically mailed to: 
HOUSE OVERSIGHT 032329 
Michael C. Miller 
Partner 
www.steptoe.com/mmiller 
Steptoe 
direct Steptoe & Johnson LLP 
fax 1114 Avenue of the Americas 
cell New York, NY 10036 
www.steptoe.com  
This message and any attached documents contain information from the law firm Steptoe & Johnson LLP that may be confidential and/or privileged. If 
you are not the intended recipient, please do not read, copy, distribute, or use this information. If you have received this transmission in error, please 
notify the sender immediately by reply e-mail and then delete this message. 
HOUSE OVERSIGHT 032330 
"
IMAGES-010-HOUSE_OVERSIGHT_029256.txt,"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
"
IMAGES-003-HOUSE_OVERSIGHT_015950.txt,"260 Are the Androids Dreaming Yet?

write out the symbols in a table and assign a musical note to each. It is
straightforward to put these notes into a synthesizer and play the piece
of music. I have provided a link to such a piece. Warning: once you listen
to this you will have been ‘creatively inoculated’

This resulting piece of music, based on the transliteration of a proof,
is non-computable. You might immediately argue with this, “The piece
of music was translated from proof text to music file using a computer. It
is clearly computed. but this is not my point. The music could not have
come into existence in our Universe as a result of a computation. It is a
computable translation of a non-computable string. It could not have
been generated solely by a computer: It was done in two steps, the first of
which could not have been computed.

If, up to this time, our Universe has never contained a piece of
music that was generated non-computationally, it does now. If you listen
to this piece, you will find it impossible not to be somewhat inspired by
it. You cannot erase the experience from your memory. And once you
have heard it you will have been creatively inoculated. I have defeated
Daniel Dennett and his like, and given you creative freedom!

www.jamestagg.com/noncompmusic

Having made at least some music above the Turing limit I could
declare victory but I want to go further. Using the same reduction method,
I believe we can show all art is above the limit. First let’s attempt novels
and plays. Do you enjoy those crime novels by Agatha Christie and Colin
Dexter? It must be possible to construct a plot sufficiently complex, and
a murder sufficiently baffling that it exceeds the logic limit. I could keep
extending this idea to provide any number of examples and, therefore,
prove all art and creative output is above the logic limit.

There are many other arts we could apply this argument too. In
the visual domain there are non-computable images. In principle, it is
possible, to draw or paint things beyond the capability of a computer.
Roger Penrose has created non-computable visual puzzles such as tiling
an infinite plain with special jigsaw pieces. Creating an image containing
a solution to his visual puzzle is non-computable.

This extension argument also applies to me. There is an argument
that I am a finite being and therefore can be simulated by a computer.
Since I can be simulated by a computer, I am the same as a computer
and therefore incapable of non-computable thought. The argument is as
follows: James Tagg will have during his life a finite number of inputs and,
equally, a finite set of outputs. This means you could model me using a

HOUSE_OVERSIGHT_015950
"
IMAGES-011-HOUSE_OVERSIGHT_031050.txt,"GUID: BE97DE6D

53E8-4DAD-B351-05E3EB

rT:

1H6405

Message:

End of Days

Sender: e:j
Time: 08/24/18
Flags: 1150981
Is Read: No

Is Invitation:

GUID:

Message:
sept 6 ,

more

as you will see trump corp on the hit list.

news today

itunes@gmail.com

08:41:53 AM (556818113)

No

98CAEO5A-5570-4D72-825B-ADC8 9D3AE4DF

lets make a plan for YOU

more important by far.

will come out.

Sender: i

Time: 08/24/18

Flags: 1060865
Is Read: Yes
Is Invitation:

GUID: 94C6A4C4

08:46:20 AM (556818380)

No

E6CO-4C4A-A563-A532CBBC71FF

Message: Very comforting

sender: iy

Time: 08/24/18

Flags: 1060865

Is Read: Yes

08:46:44 AM (556818404)

Is Invitation: No

GUID: F54BFD3E-4B09-49F6-BEC1-84E14313DFC8
Message: Trump org always the weak link
Sender: e:jeeitunes@gmail.com

Time: 08/24/18 08:49:00 AM (556818540)
Flags: 1085445

Is Read: No

Is Invitation:

GUID: SABBDEE6

Message:
thking of your

No

no fifth amendment right to corp

3267-40B5-990E

DOOYD3C6207D

and that the money
back game

Sender:

Time: 08/24/18

Flags: 1060865
Is Read: Yes

Is Invitation:

08:50:05 AM (556818605)

No

I guessed that before

keeping it outside the 60 days of election interference
isn't it nice to have tomorrows

you should start

HOUSE_OVERSIGHT_031050
"
IMAGES-009-HOUSE_OVERSIGHT_027388.txt,"Is Invitation: No

Tr

GUID: 28194BC3-EE77-4F43-B8F1-80EE91E1D09F

Message: Give me 2 minutes and will call back

Sender: e:jeeitunes@gmail.com

Time: 08/03/18 05:09:35 AM (554990975)
Flags: 1085445

Is Read: No

Is Invitation: No

r

GUID: 6846CC4E-6B7A-4E6E-8 9E8-ADO570DECO6C

r,
OV
zr

Message: ?

Sender: e:jeeitunes@gmail.com

Time: 08/03/18 05:16:51 AM (554991411)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: OA40E6CE-1359-4A0B-9282-42A98AD2FF69

Message: I sent you an interesting email

Time: 08/03/18 05:19:33 AM (554991573)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: E9¢6BB36E-A44A-4280-9782-A698713324CD

Message: Who is that from

Sender: e:jeeitunes@gmail.com

Time: 08/03/18 05:19:44 AM (554991584)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: SF90BEC6-OFAE-4D87-BO 93-0AC6 9AARA8E0

©

Message: Call when free

Sender: e:jeeitunes@gmail.com

Time: 08/03/18 05:20:51 AM (554991651)
Flags: 1085445
Is Read: No

Is Invitation: No

GUID: DFFCF9DD-CDE7-42E4-95E2-7E4B574BC26

Gl

HOUSE_OVERSIGHT_027388
"
IMAGES-003-HOUSE_OVERSIGHT_014496.txt,"Disclosures
Important Disclosures

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% < 10%
Neutral 20% = 30%
Underperform NIA = 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.

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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Bankof America <> :
Merrill Lynch European Equity Strategy |O1 December 2016 37

HOUSE_OVERSIGHT_014496
"
IMAGES-003-HOUSE_OVERSIGHT_015788.txt,"98 Are the Androids Dreaming Yet?

,

ee

Einstein’s Brain

of the brain. Whether this is related to his highly creative thinking or just
random chance is unknown, but it’s an interesting data point in our quest
to understand creativity and intelligence.

Looking through a microscope, the wrinkly grey matter is composed
of 30 trillion neurons; small whitish cells sprouting filaments that wrap
around each other like the tentacles of an octopus. The tentacles, and
there can be as many as 10,000 per cell, are known as dendrites and spread
out to nearly touch other neurons. At the other end of the neuron is a
single axon. The gaps between the end of an axon and the next neuron’s
dendrites are called synapses, about one-tenth of the width of a human
hair and varied in structure. When a nerve ‘fires, an electrical pulse
spreads out along the axon to the end and crosses the synapses to other
brain cells. This electrical pulse is not like the flow of current in a wire:
neurons don't conduct electricity. It is more akin to dominoes falling in
a line. Ion gates in the walls of the neuron open, letting potassium ions
flow out. As the gates open in one section, the next section is triggered
and so on. Thus, electrical signals ripple out along the axon. As the
electrical signals cross the synapses they either excite or inhibit the firing
of adjacent neurons. There is a lot more structure to a neuron than was
once thought. The textbook model is of a sequence of ion sacks stacked
end to end rather like plant cells, but neurons have a far more complex
structure. Bundles of actin and tubulin form a skeleton in the neuron and
the neuron metabolizes ATP to recharge its firing mechanism. Neurons
behave far more like small animals than inanimate plant cells.

HOUSE_OVERSIGHT_015788
"
IMAGES-004-HOUSE_OVERSIGHT_017399.txt,"4.2.12
WC: 191694

placing a sacred institution entirely in the hands of the church while placing a secular institution
under state control. Roger Williams and Thomas Jefferson would surely have approved.

Although this proposal may sound radical, it does not differ fundamentally -- except for labels --
from the situation that exists in many states today. Throughout the United States, couples have
the option of being married civilly by going to town halls or to a justice of the peace and simply
signing a marriage certificate. They also have the option of going to a church, synagogue or
mosque and being married in a religious ceremony. So most Americans already have the choice
between a sacrament and a secular agreement ratified by the state.

All that would be different would be the name we give the secular agreement. The word
""marriage"" would be reserved for those who chose the religious sacrament.

Though some traditionalists would be certain to balk at an explicit division between marriage and
civil union, a majority of Americans already agree that gay couples should be allowed to join in
secular unions with the rights and responsibilities that generally accompany marriage.

I concluded my op ed as follows:

So let each couple decide whether they want to receive the sacrament of marriage or the
secular status of civil union. And let the state get out of the business of determining who
should receive holy sacraments.

My column was widely circulated and generated an enormous debate. I was invited to appear on
television and radio shows, where extremists on both sides pilloried me: gay activists for not
going far enough; religious anti-gay activists for going too far.

Shortly after my column appeared, I received a phone call from the then Governor of
Massachusetts, Mitt Romney, who told me that he found my idea interesting and asked me to
draft legislation that he might consider proposing in order to break the deadlock. I drafted the
legislation, but never heard back from the governor, who by the time I submitted it, had
announced his candidacy for President of the United States. He was almost certainly fearful of
the pushback he would get from the religious right—whose votes he needed to be nominated—if
he were seen as favoring anything that even resembled gay marriage.

Since that time, several states have adopted gay marriage or civil unions and the trend is clearly in
the direction of full equality for gay men and women. I predict, based on the reaction of my
current students to this issue, that the next generation will not even understand why earlier
generations took so long to recognize equality for gays.

A woman’s right to choose abortion

As easy as the resolution of the gay marriage issue would be under our Constitution—full equality
either in marriage or civil unions for all—that’s how difficult it is to resolve the abortion issue as a

312

HOUSE_OVERSIGHT_017399
"
IMAGES-012-HOUSE_OVERSIGHT_032939.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 12/1/2016 11:55:58 AM
To: Kathy
Subject: Re:

can you do earlier tomorw. >??

On Wed, Nov 30, 2016 at 10:58 PM, Kathy I wrote:

The dems are going to take out a couple of Trump's nominees, and Mnuchin may be one of them.

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

HOUSE_OVERSIGHT_032939
"
IMAGES-007-HOUSE_OVERSIGHT_023284.txt,"Subject:
To: Melanie Spinella (i
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 1 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 1 laid out priorities IT , being the first nothing as of today. _in July I said focus on airplane
as atest. 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 ? : Im 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 1s not what he does.
Him saying it is soooo fucked up to me , was only an echo of me sayint it to you.

Subject:

To: Melanie Spinella [as

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 i, Melanie Spincla is

1 cash flow projections for 16. . draft ok. i will be easy. ineed reught 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 Ilc, 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, .

2

HOUSE_OVERSIGHT_023284
"
IMAGES-006-HOUSE_OVERSIGHT_021964.txt,"James PATTERSON

“As a result, they will be our five finalists. As I call each name, Why didn't any of
“as ; yo
you will see a figure on your television screen. That 1s the total always someone mo
! re
score received by the contestant since she became a semifinalist. corner. Perhaps non
j ' ec

But one thing | would point out to you: the point total is not BY urges. But he did hav
} F ee

necessarily a sign of who our eventual winner will be. Being first ; E by his side through tk
now is no guarantee of being first at the time of our judges’ final if a with them.
ballot.” E g When he was thro

Oh, get on with it, Miss Sweden thinks. And, as if by her com- a o say, they graduated up

status of “lover” to “frie

mand, Bob Barker does.
“Now our five finalists. Good luck, gitls! The first finalist is: In his estimation, th

Miss Sweden!” The world was ful

Fva’s hands fly up to her face. The time it takes her to walk to
the front of the stage is all the time she needs to stop herself from

friendship seemed to bi
crying.

For Eva, it’s not meant to be. Miss USA, Shawn Weatherly, wins

that year's competition—she'll go on to become a star on Bay-

watch, But Eva’s future is secure nonetheless. After the pageant,

she'll spend three years studying in Stockholm, finish med ©

school at UCLA, and become a doctor of internal medicine.

Along the way, she'll meet Jeffrey Epstein. 3

People who knew them when they were a couple say that Eva —
wanted to marry Epstein. One friend says he considered it set 4
ously. In the end, Eva ended up with a man named Glenn Dubin, |
though she and Epstein remained very close. And if Eva was the
got away,” Epstein ended up dating othe :

proverbial “one who
class beauties —as he made his way

impressive women—world-

in the world.

1%
4

HOUSE_OVERSIGHT_021964
"
IMAGES-007-HOUSE_OVERSIGHT_022824.txt,"From: jeffrey E. <jeevacation@gmail.com>

Sent: Friday, January 9, 2015 6:08 PM
To: Landon Thomas Jr.

Subject: off the record

Importance: High

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

HOUSE_OVERSIGHT_022824
"
IMAGES-012-HOUSE_OVERSIGHT_033399.txt,"From: J [jeevacation@gmail.com]

Sent: 12/18/2018 12:57:26 PM
To: Larry Visoski
Subject: Re: G550

boca good idea

On Mon, Dec 17, 2018 at 10:21 PM Larry Visoski <> wrote:

Jeffrey

Pete informs the new spoilers board install going well, should be return to service late Wed evening, or Noon
Thursday at the latest.,they are painting the white underside this evening, Blue upper surface tomorrow and

clear coat Wed morn.
President Trump arrives Friday at 4:30pm ish.
Should Dave and Darren move the G550 to Boca Thursday?

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_033399
"
IMAGES-001-HOUSE_OVERSIGHT_012170.txt,"KIRKLAND & ELLIS LLP

Most important, however, is that the extraordinary nature of this misconduct, so unusual
in ordinary federal prosecutions, raises the gravest of concerns about why prosecutors would go
to such lengths in a case already being prosecuted by the State and with so little, if any, federal
concern. Accordingly, we ask you to conduct your own investigation of these matters, because
we believe that what we have provided you may constitute only the tip of a very deep iceberg.
Without the power of subpoena, which we currently lack, we are unable to dig deeper. We
strongly believe that there is far more exculpatory evidence that has not been disclosed, more
leaks that we have not yet uncovered and more questionable behavior. This is a case that cries
out for a deeper investigation than we are capable of conducting, before any decision to
prosecute is permitted.

11

HOUSE_OVERSIGHT_012170
"
IMAGES-004-HOUSE_OVERSIGHT_016939.txt,"Development of human-AI ecosystems is perhaps inevitable for a social species
such as ourselves. We became social early in our evolution, millions of years ago. We
began exchanging information with one another to stay alive, to increase our fitness. We
developed writing to share abstract and complex ideas, and most recently we’ve
developed computers to enhance our communication abilities. Now we’re developing AI
and machine-learning models of ecosystems and sharing the predictions of those models
to jointly shape our world through new laws and international agreements.

We live in an unprecedented historic moment, in which the availability of vast
amounts of human behavioral data and advances in machine learning enable us to tackle
complex social problems through algorithmic decision making. The opportunities for
such a human-AI ecology to have positive social impact through fairer and more
transparent decisions are obvious. But there are also risks of a “tyranny of algorithms,”
where unelected data experts are running the world. The choices we make now are
perhaps even more momentous than those we faced in the 1950s, when AI and
cybernetics were created. The issues look similar, but they’re not. We have moved down
the road, and now the scope is larger. It’s not just AI robots versus individuals. It’s AI
guiding entire ecologies.

How can we make a good human-artificial ecosystem, something that’s not a machine
society but a cyberculture in which we can all live as homans—a culture with a human
feel to it? We don’t want to think small—for example, to talk only of robots and self-
driving cars. We want this to be a global ecology. Think Skynet-size. But how would
you make Skynet something that’s about the human fabric?

The first thing to ask is: What’s the magic that makes the current AI work?
Where is it wrong and where 1s it right?

The good magic is that it has something called the credit-assignment function.
What that lets you do is take “stupid neurons’”—little linear functions—and figure out, in
a big network, which ones are doing the work and strengthen them. It’s a way of taking a
random bunch of switches all hooked together in a network and making them smart by
giving them feedback about what works and what doesn’t. This sounds simple, but
there’s some complicated math around it. That’s the magic that makes current AI work.

The bad part of it is, because those little neurons are stupid, the things they learn
don’t generalize very well. If an AI sees something it hasn’t seen before, or if the world
changes a little bit, the AI is likely to make a horrible mistake. It has absolutely no sense
of context. In some ways, it’s as far from Norbert Wiener’s original notion of
cybernetics as you can get, because it isn’t contextualized; it’s a little idiot savant.

But imagine that you took away those limitations: Imagine that instead of using
dumb neurons, you used neurons in which real-world knowledge was embedded. Maybe
instead of linear neurons, you used neurons that were functions in physics, and then you
tried to fit physics data. Or maybe you put in a lot of knowledge about humans and how
they interact with one another—the statistics and characteristics of humans.

When you add this background knowledge and surround it with a good credit-
assignment function, then you can take observational data and use the credit-assignment
function to reinforce the functions that are producing good answers. The result is an AI
that works extremely well and can generalize. For instance, in solving physical

136

HOUSE_OVERSIGHT_016939
"
IMAGES-008-HOUSE_OVERSIGHT_025868.txt,"OGIS RECOMMENDATIONS
FOR IMPROVING FOIA

FOIA also directs OGIS to make recommendations to Congress and the

President to improve FOIA. In April 2012, OGIS released five recommendations

that the Office compiled in its first years. For example, OGIS encouraged agency
participation in FOIAonline, the Federal Government’s first multiagency FOIA

portal. As a founding partner in FOIAonline, OGIS continues to support the
portal’s improvement of services and expansion of partners.

In March 2013, OGIS issued four additional recommendations for

improving FOIA.

1. IMPLEMENTING DISPUTE
RESOLUTION FOR FOIA CONFLICTS

OGIS expanded its dispute resolution program to connect FOIA professionals,
legal counsel, and dispute resolution professionals to embed dispute resolution
firmly into an agency’s FOIA process. The goal is to identify issues that are
ripe for partnership and explore ways to work together to prevent and resolve
disputes as well as avoid litigation.

In 2013, OGIS identified several agencies, including OGIS’s parent agency,
NARA, to help to pilot a project designed to prevent and resolve disputes as
well as avoid litigation. OGIS has begun meeting with each of these agencies
to determine the types of FOIA disputes that result in litigation and to explore
ways to incorporate dispute resolution into their FOIA processes. (OGIS

also has worked with the Administrative Conference of the United States

to promote research into FOIA litigation to inform this process.) OGIS will

continue to pilot this project in FY 2014.

>

HOUSE_OVERSIGHT_025868
"
IMAGES-011-HOUSE_OVERSIGHT_031736.txt,"Trump; Prince of Believers (Caliph)!

Abdulnaser Salamah

http ://www.almasryalyoum.com/news/details/1133143

I cannot accommodate that an American president — whatever his name -
comes to the Kingdom of Saudi Arabia to hold a summit meeting with the
Kingdom’s king, and then egulf’s leaders come together to hold a summit meeting
with him, and then the leaders of Arab and Islamic states come to hold a summit
meeting with him. Is this because the American president has no time to host
them in the White House, where he rules, so those all leaders met him in the

kingdom?

I cannot accommodate with this status unless this person was the prince of
believers or (Caliph) who has the right and power to gather the rulers of states in

whatever place he choose in the Caliphate or any of its palaces.

Following the example of Caliphs, the rulers ware not know the reason behind
this meeting or tts subject. They also were not know the instructions or orders he
carried from the far reaches of the Caliphate. In this case they are as like as the

public. All information is available that the Caliph not only feels angry with the

HOUSE_OVERSIGHT_031736
"
IMAGES-009-HOUSE_OVERSIGHT_026928.txt,"ee

Raiders Announce Plan To Play
2019 Home Games In Jon
Gruden’s Backyard

=| Onion Politics =

MORE POLITICAL COVERAGE

HOUSE_OVERSIGHT_026928
"
IMAGES-010-HOUSE_OVERSIGHT_029530.txt,"From: Mohamed Waheed Hassan

Sent: 1/27/2013 3:49:54 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re:

Importance: — High

Jeffrey,

Need your advice.

My finance minister is telling me that he has an anonymous funds manager who is willing to deposit 4 billion
dollars in Maldives and that they are willing to lend a percentage of that in exchange for government
promissory notes. The 4 billion would be deposited in the Central Bank. But they want us to set up a special
purpose vehicle, a construction company fully owned by the government to receive the loan. Such a company
can only be set up under a presidential decree.

I am also told that the funds manager would be charging Maldives upfront a certain percentage of the amount
lent.

I don't feel I have enough information on this. I don't know who is this funds manager. They always want the
finance minister to meet them in Bangkok or some place outside. Why would anyone want to deposit such a
large amount here when we don't have a credit rating and public debt is so high. I feel very uncomfortable about
this.

What do you think I should do. Iam very uncomfortable. In addition to the finance minister, a leading politician
and leader of the coalition parliamentary group is behind it. He could be my leading contender for presidency.

Does this sound all ridiculous to you. I have a strange feeling about this whole thing.
Best regards
Waheed

Sent from President's iPad

On Jan 18, 2013, at 5:06 PM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

as chairman of the council of europe , he is really mr human rights, Im sure that if he can be of help, he will

On Fri, Jan 18, 2013 at 5:27 AM, es Wot:

| remember meeting Jagland at your place when | came with Sultan.

Sent from Windows Mail

From: Jeffrey Epstein

Sent: 18 January, 2013 2:40 AM
To: Mohamed Waheed Hassan
Subject: Re:

also be advised that thorbjorn jagland is a great friend.

On Thu, Jan 17, 2013 at 3:26 PM, Mohamed Waheed Hassan iii wrote:

Hi,
Would be great if Lisa could visit us. She sounds like the right person to help us get organized.

HOUSE_OVERSIGHT_029530
"
IMAGES-001-HOUSE_OVERSIGHT_010767.txt,"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 (4° 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.”).

Il. 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

HOUSE_OVERSIGHT_010767
"
IMAGES-001-HOUSE_OVERSIGHT_011479.txt,"I sensed, at the time, at least the start of some connection. I suspected that
Arafat viewed me, as he had Rabin before me, as a “fellow fighter”. But if so, I
now wondered whether that might have been part of the problem in his ever
truly understanding my mission at Camp David. My motivations. Or my mind.

Even in Israel, my reputation as a soldier has sometimes been as much a
burden as an advantage. A whole body of stories has followed me from my 36
years in uniform — a career which, after Saveret Matkal, led me up the military
ladder until I was head of operations, intelligence, and eventually of the entire
army as Chief of Staff. By the time I left the military, I was the single most
decorated soldier in our country’s history. Some of the stories were actually
true: that when we burst onto the hijacked Sabena airliner, for instance, we were
dressed as a maintenance crew; or that, in leading an assassination raid in Beirut
against the PLO group that had murdered Israeli athletes at the 1972 Munich
Olympics, I was disguised as a woman. Not the most attractive young lady,
perhaps, though I did, painfully, pluck my eyelashes, and, with the help of four
pairs of standard-issue Israeli Army socks, develop quite a comely bosom. I
rejected the idea of wearing a long dress, in favour of stylishly flared trousers. I
was going on a commando operation, after all, not a prom date. But I did wear
heels. So yes, a woman, of sorts.

Yet some of the stories were just plain myth. I had given up counting the
times I’d heard about my alleged prowess in recording the fastest-ever time on
the most gruelling of the Israeli army’s obstacle courses. In fact, I was a lot
more like Goldie Hawn in Private Benjamin.

The main misunderstanding, however, went deeper. The assumption
appeared to be that my military achievements, especially in Sayeret Matkal,
were down to a mix of brute force and raw courage. Courage, of course, was a
requirement: the willingness to take risks, if the rewards for success, or the costs
of inaction, were great enough. Few of the operations I fought in or commanded
were without the real danger of not coming back alive. But whatever success I'd
had as a soldier, particularly in Matkal, was not only, nor even mainly, about
biceps. It was about brains. The ability to make decisions. To withstand the
pressure of often having to make the most crucial decisions within a matter of
seconds. It was, above all, about thinking and analyzing — and always, always,
looking and planning ahead.

And as our plane droned onward towards Israel, I knew that I would now
need all of those qualities more than ever.

8
HOUSE_OVERSIGHT_011479
"
IMAGES-010-HOUSE_OVERSIGHT_030061.txt,"Article 1.

NYT

The Tony Awards

Roger Cohen

May 12, 2011— Every few years along comes a brilliant Jewish
writer called Tony with challenging views on Israel, and this great
city — on all other matters the most open in the world — gets tied in
knots over what can or cannot be said. After “L’ Affaire Judt” we
have “L’ Affaire Kushner,” but with different outcomes that suggest a
shifting American Jewish discourse.

The late Tony Judt, author of the brilliant study of late 20th-century
Europe called “Postwar,” saw his New York persona changed with
the appearance in 2003 in The New York Review of Books of an
article called “Israel: The Alternative.” It posited the creation of a
single binational state of Jews and Palestinians and suggested a
Jewish state was anachronistic.

The calls to his office began — “Tell Tony Judt this is Hitler calling
and he says, “Congratulations.”’ Years later, an event featuring Judt
at the Polish Consulate got canceled at the last minute after its
organizers apparently came under pressure from prominent New
York Jewish groups.

To this day, in the city this British-born Jew came to love for its
clamorous diversity, Judt’s luminous oeuvre sometimes seems
overshadowed by a single polemical piece.

I disagreed with Judt: No alternative binational state of Palestinians
and Jews is imaginable in the Holy Land, at least not this side of
utopia. History demonstrates that Jews need a homeland called Israel.
Amos Oz, the Israeli author, has noted that, “When my father was a
young man in Vilna, every wall in Europe said, ‘Jews go home to
Palestine.’ Fifty years later when he went back to Europe on a visit,

HOUSE_OVERSIGHT_030061
"
IMAGES-003-HOUSE_OVERSIGHT_016068.txt,"378 Are the Androids Dreaming Yet?

Loch Ness Monster Picture
The Loch Ness Monster's Song

Dyslexic Poem

Starry Night, van Gogh
Game of Battleship
Jesse our Creative Kitten

Chapter 6

Orangutan and Kitten

Twin Guards

Groucho Marx

Euclid’s Elements, Oxyrhynchus Papyrus

Chapter 7
Mandelbrot Set
Bubble Sort Ballet, video

Maze
Travelling Salesman Problem

Rubik’s Cube
Complexity Scale
Butterfly Beginnings of a Tornado?

Trajectories

Poincaré Portrait

Blue Marble, Weather Patterns
Lorenz Attractor

Nebula

Cellular Automaton

Conway's ‘Life’

Chapter 8
Hilbert’s Hotel
Spears and Hunters

Unknown, Hoax

From Glasgow to Saturn (Carcanet,
1973) also published in Collected
Poems (Carcanet, 1990) Reprinted by
permission of Carcanet Press.

Kind permission of the copyright
holder: The Journal of Irreproducible
Results, the science humor magazine,
wwwijir.com, 1994 and 2000, via the
author Jerrold H. Zar

Wikimedia, PD
www.shutterstock.com

James Tagg

Chris Butler, www.bigstock.com
Manamana, www.shutterstock.com
Library of Congress, PD
Wikimedia, PD

Steve Buckley, www.shutterstock.com
Created at Sapientia University, Tirgu
Mures (Marosvasarhely), Romania.
Directed by Katai Zoltan and Toth
Laszl6. In cooperation with “Maros
Mivészegyiittes’, Tirgu Mures
(Marosvasarhely), Romania.

Vasilius, www.bigstock.com
Illustrated by James Tagg, map from
www.bigstock.com

Photograph by James Tagg

Illustrated by James Tagg

saichol chandee, www.shutterstock.
com

Kind permission Steinn Sigurdsson
(1991)

Eugéne Pirou, Wikimedia, PD

Reto Stéckli, NASA Earth Observatory
zentilia, www.bigstock.com

Credit NASA

Weisstein, Eric W. “Cellular
Automaton.” From MathWorld--A
Wolfram Web Resource.

James Tagg screen capture of an MIT
opensource project

Karamysh www.bigstock.com
Munduruku, Wikimedia cc2.5

HOUSE_OVERSIGHT_016068
"
IMAGES-002-HOUSE_OVERSIGHT_012647.txt,"» Case 9:08-cv-80232-KAM Document 1 Entered on FLSD Docket 03/05/2008 Page 4 of 6

17. Epstein’s plan and scheme in which he committed such acts upon Jane Doe were done
willfully and maliciously.

18. This sexual assault was in violation of Chapter 800 of the Florida Statutes, which ~
recognizes as a crime the lewd and lascivious acts committed by Epstein upon Jane.

19,  Asadirect and proximate result of Epstein’s assault on Jane, she has suffered and will
continue to suffer severe and permanent traumatic injuries, including mental, psychological and
emotional damages. .

WHEREFORE, Plaintiff Jane Doe, demands jiiement against Defendant Jeffrey Epstein for

compensatory damages, punitive damages, costs, and such other and further relief as this Court

deems just and proper.

COUNT I
Intentional Infliction of Emotional Distress

intentional Iniliction Of Fmouonal LIStess

20. Plaintiffs Jane Doe repeats and realleges paragraphs 1 through 14 above.

21.  Epstein’s conduct was intentional or reckless.

22.  Epstein's conduct was outrageous, going beyond all bounds of decency. |

23.  Epstein’s conduct caused severe emotional distress to Jane Doe. Epstein knew or had
reason to know that his intentional and outrageous conduct would cause emotional trauma and
damage to Jane Doe. |

24.  Asadirect and proximate result of Epstein’s intentional or reckless conduct, Jane Doe
has suffered and will continue to suffer severe mental anguish and pain.

WHEREFORE, Plaintiff Jane Doe demands judgment against Defendant Jeffrey Epstein for

compensatory damages, costs, punitive damages, and such other and further relief as this Court

HERMAN & MERMELSTEIN, P. A. www.hermanlaw.com

40f6

HOUSE_OVERSIGHT_012647
"
IMAGES-005-HOUSE_OVERSIGHT_020395.txt,"243

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

“The most dangerous man...”--Rolling Stone interview with Jacob
Appelbaum, “Meet the Most Dangerous Man in Cyberspace: The American
Behind Wikileaks, Rolling Stone, December 2,2010

“Appelbaum acted to defeat-...”—George Packer, The Holder of
Secrets, The New Yorker, October 20, 2014

“She identified herself in Forbes...’”—Runa A Sandvik, Forbes,
http://www.forbes.com/sites/runasandvik/

“TOR Stinks...”—Sean Michael Kerner, “Snowden Leaks Show NSA
Targets Tor,” E Week, October 4, 2013

“Parody of the NSA...”—Kashmir Hill, “A Q&A with Edward
Snowden,” Fusion, September 24, 2015,
http://fusion.net/story/201737/edward-snowden-interview/

“He had been “moonlighting”...”-- Runa Sandvik,” What Edward
Snowden said at the Nordic Media Festival,” Forbes, May 10, 2015

“According to her account, Snowden. ..”—Sandvik did not reveal her
encounter with Snowden in any of her blogs until 11 months after
Snowden went public in June 2013. It was only after Greenwald
disclosed in his book No Place to Hide that Snowden used the alias
Cincinnatus that Internet investigators discovered that he had hosted
with Sandvik the Crypto Party. Sandvik then wrote her account of it,
See Runa A. Sandvik, “That One Time I Threw a Crypto Party with
Edward Snowden,” Forbes, May 27, 2014. Also, Kevin Poulsen,
“Snowden’s First Move Against the NSA Was a Party in Hawaii,”
Wired, May 21, 2014

“Snowden declared the Crypto party...”—All of Snowden’s post-party
activities in 2012 and 2013 come from the Twitter account of “Oahu
Crypto Party”. [TK]

“NSA’s new “culture of transparency’—Morell. op. cit, p. 288

“According to a former intelligence executive,”’—Author’s interview
with a Defense Intelligence Agency officer who requested anonymity,

“T asked a former...”—Author’s interview with source A

HOUSE_OVERSIGHT_020395
"
IMAGES-002-HOUSE_OVERSIGHT_014236.txt,"ramos [-frameccas —T]| | frmanenes —“TTrusezoms TI
[cave TO See YOU i |

| |wurcaacan |_| CAME TO SEE YOU WILL CALL AGAIN
wants 70 eee vou | [Ause PT] | frans0 see vou | fuss i
RETURNED YOUR CALL|  |SPECIALATTENTION | | f | | [RETURNED YOURCALL| _|/ SPECIAL ATTENTION

| MESSAGE

ri

SITITTITTTLTT TTT

DHKOBS

POESD

!
i PHONE/

1. | MOBILE is “Beant BILE

ie s ; |[Tecernoneo . | [eueasecar ||} | sf | TELEPHONED
is ia CAMETOSEEYOU | |datcaacain | | ' | | CAME TO SEE YOU | |
i» RETURNED YOUR CALL] | SPECIALATTENTION [| | {> [ | RETURNED YOUR CALL ‘
Le : | MESSAGE _:] | MESSAGE

$A02845

| SIGNED:

GIUFFRE00 1469

HOUSE_OVERSIGHT_014236
"
IMAGES-005-HOUSE_OVERSIGHT_019514.txt,"26 | HOW AMERICA LOST ITS SECRETS

ever, according to a reply by a CIA public affairs officer to the Times,
Snowden had not been fired or accused of attempting to “break into
classified computer files to which he did not have authorized access.”

A former CIA officer who had also been at the U.S. mission
in Geneva explained the discrepancy to me. He said that the spin
the CIA put on the story was “necessary containment.” After the
Snowden breach occurred in June 2013, the CIA had a problem that
could, as he put it, “blow up in its face.” If Snowden had been fired
but allowed to keep his security clearance in 2009, the CIA’s incom-
petence could be partly blamed for the NSA’s subsequent employ-
ment of him. If he had broken into a computer to which he was not
authorized, he should have been fired if not arrested.

What this spin glossed over, according to this former CIA officer,
is the part about Snowden’s behavior that concerned his superior.
Technically, Snowden, as a CIA communications officer, was autho-
rized to use the computer system. The problem was that Snowden
had deliberately misused it by adding code to it. This code could have
compromised the security of the CIA's “live system.” So while what

© the CIA public affairs officer quoted in the Times story said was cor- ®
rect, it clouded the issue.

During his time in Geneva, Snowden had received no promotions
or commendations for his work. He was threatened with a punitive
investigation unless he agreed to quietly resign from the CIA. “It
was not a stellar career” Drumheller, the former CIA station chief,
told me in 2014.

Snowden blamed his career-ending “derog” on an “e-mail spat”
with a superior. From Moscow, he wrote to James Risen of the Times
that his superior officer ordered him not “to rock the boat.” Further,
he complained that the technical team at the CIA station in Geneva
had “brushed him off,” even though he had a legitimate grievance.
When he complained about a flaw in the computer system, he said
that his superior took vengeance on him. He said he added the code
to the system to prove he was right. He attributed the “derog” in
his file to the incompetence, blindness, and errors of his superiors.
According to Snowden, he was a victim. This would not be the last
time he faulted superiors for their supposed incompetence. He would

| | Epst_9780451494566_2p_all_r1.z.indd 26 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019514
"
IMAGES-002-HOUSE_OVERSIGHT_013559.txt,"This smoothness-dependent intuition of determinism breaks down in nonlinear
equations as well as in a wide variety of the machines of experimental physics, from
the sudden coherent lasing of previously incoherent light to the vortices and
turbulence in suitably bounded rotating or flowing fluid. It took me a while for these
topological still shots and movies of the head to become real. Nevertheless, the
enrichment of intuition was well worth it. Of course one could smoothly increase the
normal factor weight of a ship until it gradually sank, but if one moved the center of
gravity splitting factor to an eccentric position in the ship in the parameter region of
the bifurcation set, a sudden global capsize before weight-induced gradual sinking
made sense. | could see it. Indeed, increasing normal factor tension in a prison
population that was identified, not alienated, from the officials and mores of the
penal institution, would increase social symptomotology gradually. However,
increasing the splitting factor of social and institutional alienation results in the
cataclysmic change of a riot with increasing tension. | could see it.

Do we need to know the causal equations to anticipate instability and
discontinuity in our lives? Zeeman making Thom’s thoughts accessible to us plain
mortals said no. He suggested that we could use several diagnostic
phenomenological signs to make a good guess about whether we are near or within
the bifurcation set. Depending upon the route that the causal variables take through
the shadow of the bifurcation set, we may see very large fluctuations in our
observable. The Dow or S&P stock indices in the neighborhood of a sudden large
change is often presaged, sometimes for weeks, by a marked increase in volatility,
fluctuations between extreme values. Theorists call the statistical properties of a
time series of values behaving this way anomalous variance. For several months, |
did psychotherapy with a genuinely spiritual Catholic priest who only some Sundays
served the Eucharist, the corporal presence of our Lord at Communion, wearing no
trousers or underpants beneath his robes. A sudden change in a stock index in
response to the “shock” of a terrorist attack takes much /onger to settle down if a
cataclysmically bigger change is in the neighborhood. This extension of the

system’s usual relaxation time is sometimes called critical slowing. In the bifurcation

59

HOUSE_OVERSIGHT_013559
"
IMAGES-006-HOUSE_OVERSIGHT_021233.txt,"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 Dyk, 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 he'll 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 it's 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
"
IMAGES-009-HOUSE_OVERSIGHT_028252.txt,"/ BARAK / 118

deal with a major conflict with the Syrians. All of this, under a tight seal of
secrecy.

Finally, in early September 2007, everything was in place. Olmert briefed the
cabinet, and secured the ministers’ approval to destroy the reactor, with the
understanding that the precise timing of the operation would now be left to the
Prime Minister, the Defense Minister and the Foreign Minister: Olmert, me and
Tzipi Livni. The three of us met immediately after the cabinet discussion. Olmert
argued that the risk of leaks justified attacking that night, and I agreed with him.
Tzipi was reluctant, but Olmert turned to her and said: “Are you sure you’re
comfortable with an attack being ordered by me and Barak, while you chose to
abstain?” She thought it over, and added her approval.

We struck just after midnight, in an intricately coordinated air attack that
evaded not only a Syrian response, but Syrian notice. The reactor was destroyed.
Although even today the exact details remain subject to Israel’s military secrecy
regulations, accounts published abroad in the weeks and months that followed
painted a surprisingly accurate picture, including the pioneering use of electronic
warfare capabilities to deal with risk of radar detection. But in the immediate
aftermath of the attack, Israel deliberately made no public comment. We refused to
say whether we’d had anything to do with an attack. As we he had hoped, this
allowed the Syrian President, Bashar al-Assad, both the space and a good reason to
deny that it had ever happened, deny that he’d been trying to make a nuclear
weapon, and thus feel no compelling reason to retaliate.

The reactor operation, however, marked the start of an increasingly tough
period in both my and Tzipi’s relationship with Olmert. Policy was not the
problem. There were no major security crises in the months ahead. But in the
spring of 2008, it became known that the Israeli police were investigating Olmert’s
relationship with an American businessman named Moshe Talansky. The
suggestion, initially in a New York paper and then the Israeli press, was that
Olmert was guilty of taking bribes. In his first public response, he didn’t deny

404
HOUSE_OVERSIGHT_028252
"
IMAGES-009-HOUSE_OVERSIGHT_027161.txt,"GUID: 29E3C4F8-C14F-4492-9562-23F7554CD28B

Message: Let's make a deal for a few months To push cyber and then get out and help
trump make examples and do better stuff

Time: 02/18/17 02:51:45 PM (509151105)

Flags: 1060865
Is Read: Yes

Is Invitation: No

£

GUID: 9635D856-266E-40D2-8C61-OFE239C3C6DB

Message: BG has already made too many commitments and he did it based on his foundation
but counting on leveraging and influencing us Gov't

Sender:

Time: 02/18/17 02:52:09 PM (509151129)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: BSB/7CAC2-933D-46E8-B910-032839F5FA99

Message: If the tax laws are enforced and he is forced to pay on his own and has less,
lord knows how he will react

Time: 02/18/17 02:52:32 PM (509151152)
Flags: 1126401
Is Read: Yes

Is Invitation: No

GUID: 6C5131A5-A953-4B8C-BEA3-571A16E81D0A

Message: But - cyber is a ""let's do now"" thing March 15 I see BG next Friday

Sender: e:jeeitunes@gmail.com

Time: 02/18/17 02:52:54 PM (509151174)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 2D236981-7FC5-400C-BF3D-F117A9086804

Message: cyber is great

sender: a’

Time: 02/18/17 02:53:50 PM (509151230)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 9FB93D12-71F9-460F-95

zi

1E-19F84876BBA7

HOUSE_OVERSIGHT_027161
"
IMAGES-012-HOUSE_OVERSIGHT_032508.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_032508
"
IMAGES-004-HOUSE_OVERSIGHT_018243.txt,"a

The dining hall around us was dark as Nan finished his discussion that night. At our
table we sat in a pool of dim light and waited on the Master as he considered his
next thoughts. I knew that some of what drew China’s great minds here to dinners
with him was a sense that those old ideas of Chinese philosophy - born in an age of
chaos and dating back to a time before rational calculation and scientific progress -
offered hope. I asked Master Nan where he would begin on a quest to understand
this age and how best to prepare. How to cultivate oneself?

“You know you can’t just understand this easily,” Master Nan said sharply. He was a
little angry with me, I could see, for asking such a direct question - and he was also
using the Chinese teaching technique of taking students through a range of emotions
to accelerate their learning. Chinese philosophers believe we learn differently
depending on how we feel, so a teacher making a student scared or insulted or
proud is often just an educational tactic. Nan was working on my humiliation bone
now: “This isn’t like some idea I can sell you and then you can just go and use,” he
continued, his voice rising. “This is going to be hard.”

Master Nan inhaled on his cigarette and waited a moment. “If you work, though,
maybe you can be like Su Qin,” he said, “the man who wrestled 20 years of peace out
of 300 years of war.” Su Qin was the hero of the Warring States period during which
China collapsed into total chaos. He is remembered today, two thousand years later,
for the way he had penetrated the madness of his age and how he found there
deeper fibers of truth that he lashed into a stable peace. “Su Qin started as an
idealist. He failed.

“You know, Su Qin was humiliated in trying to advise kings. Even his kin were
embarrassed. His sister and mother refused to let him return to the family home. He
was in so much pain over this embarrassment that he sat in front of a desk and read
every book of history he could find for seven years. He tied his long hair to a beam
above his desk so that if he fell asleep it would hold his head up. Sometimes he
would stab a knife into his thigh to keep awake.” Nan’s voice was rising, his speech
picking up pace. “But in the end, he learned. Su Qin learned. You should study him. If
you do this, if you are sincere, if you work hard, if you learn these ideas, you can
understand. Can you be that disciplined?” The room was dead quiet now. No one
looked at me. In the silence, one of the guests passed around a plate of cut fresh fruit
and cherries and sweet dried dates.

Nan’s relentless, intense Ch’an Buddhism sort of enlightenment, delivered only after
painful years of carbon-crushing intellectual intensity, expressed a clear ambition:
To learn to feel through invisible relations and balances and to construct something
promising and hopeful on the other side. Nan’s long sessions of mediation or sword
play, his furious pursuing philosophical dialogues that reduced students to an
embarrassed sweating state, these were all aimed at sharpening a blade so as to
instantly carve at the energy flows of our age. Did “spiritual illness” really linger
ahead of us? What sort of tragedy did that suggest? What was it that, hair tied to the

11

HOUSE_OVERSIGHT_018243
"
IMAGES-004-HOUSE_OVERSIGHT_017170.txt,"4.2.12
WC: 191694

better able to articulate and defend nuanced positions. The same is true of liberals and everyone
else. I always play the devil’s advocate, challenging every view, questioning every idea, pushing
every opinion.

In doing so, I learn a great deal from my students. My classroom is truly a marketplace of ideas.
This should not be surprising, considering my life-long commitment to freedom of expression and
the widest exchange of views, as I describe in the next chapter.

When I was offered the job at Harvard at age 24, I knew that I was qualified to teach theoretical
subjects, but I worried about my lack of real world legal experience, since I had never practiced
law. (One summer at a law firm between my second and third year at Yale does not a practitioner
make.) Unlike some academics, my Brooklyn upbringing gave me a practical bent of mind—
“street smarts”—but I craved some real world experience. I looked for opportunities to become
involved in cases that would provide a smooth transition from theory to practice. Within a few
years of beginning my teaching career, I found a natural transition in the form of First Amendment
cases challenging governmental censorship.

83

HOUSE_OVERSIGHT_017170
"
IMAGES-003-HOUSE_OVERSIGHT_015561.txt,"Edwards adv. Epstein
Telephone interview with Virginia Roberts
Page 6 of 23

a couple of weeks, maybe a week, I had quit Mar-a-Lago and I was working for Jeffrey
full time.

JS: Ok, let’s talk about your job at Mar-a-Lago, if we could. You said that your Dad was
working there. What was his position at Mar-a-~-Lago?

V: He was a maintenance supervisor I think is what it was called? He like managed the
tennis courts and air conditioners and things like that.

JS: | What is your Dad’s full name?

V: Sky William Roberts.

JS: — And is he still living here in South Florida now?
V: No, he’s not, he’s in California.

JS: Ok. Is your Dad aware of what is currently going on with regard to your having made
public statements about your relationship with Jeffrey?

V: Yes, he is well aware of it. I told my family even before all this stuff came out, because
they were the first ones contacted by the journalists from Mail on Sunday. I know that
they the Mail on Sunday printed that I had gone out and tried to, I mean I think one of the
photos said that I was angry that I saw Jeffrey and the Prince walking together and that is
why I came out and went public with everything. Not true. I mean, I am angry about
how they are still up to their old ways together and that they’re still hanging out but I
didn’t contact the Mail on Sunday and I didn’t bring it out. I figured that everyone was
going to bring it out anyway and I better bring it out the right way. He’s known
everything from the start, and my family is very supportive with everything going on.

JS: I’mkind of going to jump around a little bit and I apologize for that, but since the subject
has come up, tell me first of all why you are providing this cooperation to us, and I am
certainly very appreciative of it, but I want you to tell us why it is you’ve chosen to spend
time with us on the telephone and provide this information that you’re now providing.

V: I’m out to help the bigger picture, you know, I think all of us can make a big difference in
a lot of other people’s lives and I think that this has gone on long enough and it’s a big
slap in my face that he can get away with hurting me so bad let alone so many other girls
and laugh about it. I guess I talked to you guys out because I want to see the right thing
happen, not just to him, but I want people in the world to understand this is not the way
of life, you know, it’s not acceptable to go out procure young girls and make them think
that, this is the way you should be living and that’s all. Yeah, I guess my reason for
doing it is to help the bigger picture, you know, I’m a big believer in karma and I believe
that good things will come back to you, so I guess that’s why I’m doing this.

HOUSE_OVERSIGHT_015561
"
IMAGES-007-HOUSE_OVERSIGHT_024064.txt,"Transferability of Interests A Limited Partner may not sell, assign, or transfer any interest

and Withdrawal: in the Fund or withdraw from the Fund except under certain
limited circumstances and with the prior written consent of the
General Partner.

Borrowings The Fund may borrow money on a short-term basis pending

and Guarantees: 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.

Default: 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.

Reports: The Partners will receive (i) audited annual financial statements,
(ii) unaudited quarterly financial statements for the first three
quarters of each fiscal year, (ii) 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.

Parallel Funds: 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.

Alternative Investment If the General Partner determines that for legal, tax or
Vehicles: 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

53 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024064
"
IMAGES-012-HOUSE_OVERSIGHT_033170.txt,"From: Deepak Chopra

Sent: 9/27/2016 12:32:41 AM
To: Jeff Epstein [jeevacation@gmail.com]
Subject: Donald Trump and the Looking-Glass War - SFGate

Importance: — High

http://m.sfgate.com/opinion/chopra/article/Donald-Trump-and-the-Looking-Glass-War-9284330.php

Deepak Chopra

New Book: Radicalbeauty.com

HOUSE_OVERSIGHT_033170
"
IMAGES-001-HOUSE_OVERSIGHT_012399.txt,"fo™

18
19
20
21
22
23
24
25

—_

oOo Ont OD nN Be Ww NY

16
17
18
19
20
21
22

~0929104 . TXT

Q. Thank you.

May | call you i?

A. Uh-huh.

Q. | I'm going to ask you a few
questions, several questions today. If at any time you
want to take a break, you just fet me know. Okay?

A. Okay.

Q. if you at any time don't understand one of
my questions, will you just please let me know?

A. Yes.

Q. And if at any time you’re not feeling well
or something like that, you'll! tell us, right?

A. Yes.

Q. Do you feel okay today?

A. Yes.

Q. Not taking any alcohol or drugs or anything
like that, right?

A. No.

Q. So you feel ready to have your deposition
taken?

A. Yes.

Q. MMMM what is your address?

A. ]’m currently living at my aunt's house and
| don’t know it off the top of my head.

Q
A
Q.
A
Q
A

Where is it?
In Jupiter.
Who is your aunt?

Who else is living there?

PS vy uncle.

Page 4

HOUSE_OVERSIGHT_012399
"
IMAGES-009-HOUSE_OVERSIGHT_026519.txt,"From: Laurie Cameron

Sent: 9/3/2013 3:17:44 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Sept 2 position

Attachments: Sept 2.nmbtemplate

Importance: — High

Hi Jeffrey,

Attached please find the Sept 2 position. The realized gain
increased by the $28 k option premium that resulted from the
barrier level trading in USD JPY. The USD sold off vs the AUD,
GBP and the NZD today. The USD rallied against the CAD and the
JPY.

I have separated y t d p/! from Sept p/1 so that the numbers mean
more.

Hopefully the AUD will stay above .88 going into next Monday. As
I write this it is approx .90, which is good. I know it's not BRL, but
I think that we are realizing some good gains. In the weeks ahead
volatility will likely increase as Congress considers standing behind
Obama and attacking Syria. Liquidity in restricted currencies can
disappear at the trader's will. I prefer that we trade liquid easily
currencies at a time like this.

Laurie

HOUSE_OVERSIGHT_026519
"
IMAGES-003-HOUSE_OVERSIGHT_015207.txt,"Jealousy is an outmoded emotion to be shunned like dandruff.
There’ s even a workshop that advises “How to Handle Jealousy” and

1

another titled “Swing Without Guilt or Jealousy.” And so now | not only

feel guilty about not participating, | also feel guilty about feeling jealous.

I' ve committed a swinger crime. | can hear security guards shouting
“Jealousy alert!” Loud sirens go off. “Jealousy alert!”

Now where will | go? | have been reading about tantra in Rea/ Magic
by Isaac Bonewits: “Energy control is a very important part of the
exercises; it is essential, for example, that during Kama-ka/i the male be
able to refrain from ejaculating under the most harrowing
circumstances.” | decide to drop in on a workshop, “How to Prevent
Premature Ejaculation,” but everybody has already been there, and they
all left early. Sorry. | blurted that out before | could stop myself.

kok #

There are swing clubs all around the country, from “Shenanigans”
in Indiana to “Liberated Christians” in Arizona ( “for Christians seeking
liberation from false sexual repression based on mistranslation of scripture
who wish to explore responsible non-monogamy and polyfidelity” ). Many

clubs designate themselves as Equal Opportunity Lifestyle Organizations,

HOUSE_OVERSIGHT_015207
"
IMAGES-008-HOUSE_OVERSIGHT_025459.txt,"Time: 05/12/19 04:04:57 AM (579351897)
Flags: 1085445
Ts Read: No

Is Invitation: No

GUID: 4H37644A-EAD5-4ECE-AFEA- 68C646DA83F0

Message: And focusing on trade is a diversion that they love

Sender: [x

Time: 05/12/19 04:05:47 AM (579351947)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: A9836CBB-7CAC-45AF-B0O21-DD4F47172FB3

Message: Its a group of peasants trying to run a world economy-- Xi barely has high
school education , completely panicked when they read thru the deal already leaking
oil

Sender: e:jeeitunes@gmail.com

Time: 05/12/19 04:07:00 AM (579352020)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 2FED936E-36AE-4D1A-8A7B-FO412E051F7F

Message: My meeting the other day was around how these peasants looked into their own
systems , found the nsa cybertools that we had inserted and then used them against us
interests.

Sender: e:jeeitunes@gmail.com

Time: 05/12/19 04:08:01 AM (579352081)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: F994D468-C98F-462F-B33F-4E6C4D853033

Message: ohh. Yes. , I forgot. We have Steve Mnuchin , and ludlow , "")

Sender:

Time: 05/12/19 04:09:31 AM (579352171)
Flags: 1060865

Is Read: Yes

Is Invitation: No

r,

GUID: 89942DAE-2A75-4F7A-B9DB-EDDO5SFCB9A78

Message: They are perfect IT automatons I get that-- can't make complicated decisions
under pressur the key to victory-- think midway

HOUSE_OVERSIGHT_025459
"
IMAGES-004-HOUSE_OVERSIGHT_017616.txt,"Page 13 of 31
104 J. Crim. L. & Criminology 59, *77

the VRRA, the Justice Department must inform victims of federal crimes of services that are available to them, including
""emergency medical and social services,"" counseling, and support. ?! The Department is further obligated to keep victims fully
informed about ""the status of the investigation of the crime, to the extent it is appropriate to inform the victim and to the extent
that it will not interfere with the investigation."" °* These rights to notice about ""emergency medical and social services"" *? as
well as to the ""status of the investigation of the crime"" °* obviously require the Department to identify victims of federal
crimes before formal charges have been filed. Indeed, the VRRA makes this point clear by directing the Department to not only
notify the victim about the status of the investigation but also about the later ""filing of charges against a suspected offender."" °°
The VRRA then extends victims’ rights to information through the rest of the criminal justice process by requiring the
Department to provide notice to victims of such things as the imposed sentence and the defendant's release. °

The VRRA not only requires the Department to identify victims during the investigation of a crime, it also defines those
victims in a very similar fashion to the CVRA. The VRRA defines ""victim"" as a ""person that has suffered direct physical,
emotional, or pecuniary harm as a result of the commission of a crime."" °’ Thus, the Department is already routinely
identifying persons who have been ""harmed"" by federal crimes shortly after the commission of those crimes and well before
formal charging.

The Attorney General has also promulgated internal guidelines requiring Justice Department components to identify victims
rapidly after a crime. The Attorney General Guidelines for Victim and Witness Assistance provide that ""Department
responsibilities to crime victims begin as soon as possible after the detection of a crime at which they may be undertaken
[*78] without interfering in the investigation. Generally, this point in time is defined by the opening of a criminal
investigation."" °°

Gtven the way the two statutes work, it would make no sense to artificially confine the CVRA's reach until after the filing of a
criminal complaint. Before then, victims will have often recetved information from the Department about the status of the
investigation. They might wish to confer with prosecutors about how the case is proceeding, and the CVRA extends to them a
right to confer. °? Similarly, while the Department is notifying victims about the services they may receive and the status of an
investigation, it is important that the victims be treated fairly. The CVRA extends the right to be treated fairly. '°° Indeed, it
would be absurd to think that Congress wanted to permit the Justice Department to treat crime victims unfairly until criminal
charges have been filed.

Instead of recognizing Congress's intent, OLC's 2011 memorandum simply cites to a series of cases in which courts concluded

that a victim of uncharged conduct should not be afforded statutory protections. !°! Yet none of these cases - United States v.

10 104

Turner, !9? Searcy v. Paletz, !°3 or Searcy v. Skinner - provide strong support for OLC's position. Turner is a particularly

9 See 42 U.S.C. § 10607(c).
% Td. § 10607(c)(3)(A).

% Td. § 10607(c)(1)(A).

% Td. § 10607(c)(3)(A).

% Td. § 10607(c)(3)(C).

% Td. § 10607(c)(3)(G).

97 Td. § 10607(€)(2).

°8 Attorney General Guidelines, supra note 52, at 7 (internal citations omitted); see also 42 U.S.C. § 10607(b).

9 18 U.S.C. § 3771(a)(5) (2012) (preserving ""the reasonable right to confer with the attorney for the Government in the case"").

100 Td. § 3771 (a)(8) (preserving ""the right to be treated with fairness and with respect for the victim's dignity and privacy”).

101 OLC CVRA Rights Memo, supra note 2, at 6 n.6.

102 367 F. Supp. 2d 319 (E.D.N.Y. 2005).

DAVID SCHOEN

HOUSE_OVERSIGHT_017616
"
IMAGES-006-HOUSE_OVERSIGHT_020893.txt,"Medicare: Enrollment Up 2x to 46 Million While Annual Payments per

Beneficiary Up 26x to $8,325 From 1966 to 2009

Real Annual Medicare Payments per Beneficiary & Enrollment, 1966 — 2009

Em = m= me mm mo me mi i = eS =H = et 50
S ge Enrollment —— Annual Per Cap Benefits (in 2005 dollars)
=
eee eT Ty Ti Titi 4
2
s
=]
3 =
eh) ao 30 5
a -_
< o
a E
2 °
& $4,000 —~— 1 - 20 =
e uw
>
te)
a
& $200 PITT i 10
o
3
a

$0 T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T 0
1966 1970 1974 1978 1982 1986 1990 1994 1998 2002 2006
KP Note: Data are inflation adjusted using BEA’s GDP price index. Source: Dept. of Health & Human Services.
i USA Inc. | Income Statement Drilldown 103

Medicare: Observations

e 46 million elderly Americans (15% of population) received an average
of $8,325 in tax-payer funded payments for healthcare in 2009 ($5,079
for hospital care; $3,246 for medical insurance & prescription drugs).

e On the surface, $8,325 in free healthcare benefits every year certainly
seems like a high number — 23% of annual per-capita income —
(although working Medicare recipients do pay Medicare taxes).

e As with employer-sponsored health insurance plans, if people, in effect, get
a free benefit (with little personal financial commitment), they may not be
especially diligent and frugal about how they ‘spend’ it. The same concept
extends beyond healthcare recipients to the healthcare providers.*

e When Medicare was created in 1965 to provide health insurance to elderly
Americans, 1 in 10 Americans received Medicare, now 1 in 7 Americans receives
Medicare...above the initial ‘plan.’

Note: *The issue that people overuse services for which they do not have personal financial commitment applies to most
private insurance as well. For a more detailed discussion, see slide 293. Data are inflation adjusted using BEA’s GDP price

KP index. Source: Dept. of Health & Human Services.
a USA Inc. | Income Statement Drilldown 104

HOUSE_OVERSIGHT_020893
"
IMAGES-008-HOUSE_OVERSIGHT_024747.txt,"ACKR
CAPI CHAPTER VI U.S. and International Cannabis Market Estimates

U.S. Legalized Cannabis Market Estimates

Based on our assumptions and methodology, we believe that the U.S. legalized cannabis market will
ultimately exceed $100 billion annually, with more than 50 million consumers. As shown in the fol-
lowing graph, we believe these levels will be reached after the federal government legalizes cannabis.

U.S. Legalized Cannabis Market

$140,000 Path to Federal Legalization 70M
$120,000 FDA Approves Cannabis-Derived Pharmaceuticals 60 M
More States Adopt Medical Cannabis Laws
$100,000 - 50M
More States Adopt Recreational Laws =
3
@ $80,000 FDA Routinely Approves CBD Drugs 40M 4
SS g,
= FDA Routinely Approves THC Drugs ©
«# $60,000 30M a
Federal Government Legalizes Cannabis 3
$40,000 2m %
$20,000 10M

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
| | | Legalized Cannabis Market Size === Consumers

Source: Ackrell Capital. Assumes cannabis will be legalized federally by 2027. Cannabis may never be legalized federally in the United States.

Because penetration rate and average monthly spending assumptions significantly affect our fore-
cast, we illustrate this impact with the following sensitivity analysis, which shows the estimated market
size in 2030 using a range of penetration rates and monthly spending averages.

2030 U.S. Legalized Cannabis Market Size: Sensitivity Analysis

($ millions) Average Monthly Consumer Spending
$100 $125 $150 $175 $200
5% $13,954 $17,442 $20,930 $24,419 $27,907
10% 27,907 34,884 41,861 48,838 55,814
Adult 15% 41,861 52,326 62,791 73,256 83,722
ro ttion 20% 55,814 69,768 83,722 97,675 111,629
ae 25% 69,768 87,210 104,652 122,094 139,536
30% 83,722 104,652 125,582 146,513 167,443
35% 97,675 122,094 146,513 170,932 195,350
Source: Ackrell Capital
© 2017 Ackrell Capital, LLC | Member FINRA/SIPC 111

HOUSE_OVERSIGHT_024747
"
IMAGES-011-HOUSE_OVERSIGHT_030819.txt,"Eye on the Market | November 21, 2011 J.P Morgan

Topic: The quixotic search for energy solutions

There’s no room to go through the complexities of the storage technologies shown below. Here are a couple of generalizations:

e Less expensive options like pumped hydro and compressed air storage require favorable sites with the right geology, which
are rare in nature and expensive to build from scratch (and often not located near electricity demand centers), and in the case
of compressed air, require co-located gas turbines for compression

e Many battery-based technologies suffer from high upfront capital or operating costs; low energy storage volumes; delayed
response times; safety issues (such as zinc bromine); or short lives (limited number of recharge cycles)

I had a meeting a few weeks ago which was notable for its The cost of electricity storage options
optimism and enthusiasm. I met with the managers of Eos Range of levelized costs, $ perkWh
Energy Storage, which is working on a zinc air battery solution $0.60

which aims to conquer all of the obstacles outlined in the second
bullet point above. If the Eos projections bear out, they will offer
battery storage at a capital cost of ~$160 per kWh, in the form of
a 1 MW battery that is the size of a 40 foot shipping container
(for 6 MWh of storage). As with the table on page 2, the concept —go.40
of “levelized cost” synthesizes upfront costs, financing costs,

useful life, fuel costs and ongoing maintenance expenses. Rather

than looking projections of capital costs per kWh, levelized cost $0.30
comparisons are more useful. As shown, Eos aims to be the
cheapest option that can be scaled, and flexibly and safely located
where needed. Note as well that they expect to be cheaper than
natural gas peaking plants. This is a relevant benchmark, since
most utilities rely on natural gas peaking plants to meet daily $0.10
peak load requirements and to compensate for intermittent

renewable generation of wind and solar. If storage works, the

need for lots of peaking facilities could disappear.

$0.50

$0.20

Pumped Hydro
Sodium-Sulfur
Zinc-Bromine
Vanadium Redox
Zinc-Air Redox

Eos has a prototype of its Zinc-Air technology that has run
around 2,000 cycles so far; we should all pray either for their
success, or for the success of similar efforts undertaken by their
competitors. Based on the outcome of energy dreams shown on
p.1, we should always be skeptical of breakthrough claims, given
the complexity of the challenge. Let’s hope for the best.

CAES (Below ground)
CAES (Above ground)
Advanced Lead-Acid
lron-Chromium Redox
Proposed Zinc-Air Solution
Gas peaking plants

Source: EPRI, Electricity Energy Storage Technology Options, 2010, Eos.
CAES: Compressed Air Energy Storage.

Here’s another look at the financial rewards to anyone who can figure this out. Note how demands on the Texas electricity
grid (ERCOT) are almost 100% inversely correlated with when the wind blows. Either ERCOT gets connected to the national
grid, storage solutions are invented, or a lot of wind energy continues to be underutilized. On the right, what happens when
70% of the grid’s transmission lines, transformers and circuit breakers are 25-30 years old: rising congestion problems,
signified by rising loading relief requests. Grid storage has the potential to alleviate some of this congestion.

Texas electricity demand vs. actual wind output Transmission loading relief requests
Megawatts Megawatts Numberof incidents, 2002 - 2008
70,000 7,400 90
65,000 Demand 80 Independent Coordinator of Transmission for Entergy
60,000 5,920 70 mu Midwest Independent Transmission System Operator |
55,000 go | =™PJMInterconnection (Southeast/Midwest)
50,000 4,440 50 Tennessee Valley Authority
“3,000 mu Southwest Power Pool
40,000 2960 40
35,000 30
30,000 ; 1480 920
25,000 Wind output 40
20,000 0 0
ent Bir"" Bain"" Benn 8/5/11 8/6/11 8/7/11 8/8/11 2002 2003 2004 2005 2006 2007 2008
Source: Electric Reliability Council of Texas. Source: North American Electric Reliability Corporation.

6

HOUSE_OVERSIGHT_030819
"
IMAGES-006-HOUSE_OVERSIGHT_021555.txt,". @ @
UNCLASSIFIED

To: [ From: Miami
Re: 31E-MM-108062, 08/07/2008

victims. Mr. a is believed to have had contact with
In addition, SA indicated that she
believes that

UNCLASSIFIED

2

HOUSE_OVERSIGHT_021555

b6
b7C

"
IMAGES-009-HOUSE_OVERSIGHT_027607.txt,"Is Invitation: No

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GUID: 88H13E2D-AA77-40B8-BF78-E642A6551E26

HOUSE_OVERSIGHT_027607
"
IMAGES-005-HOUSE_OVERSIGHT_019272.txt,"BREAKING DOWN DEMOCRACY: Goals, Strategies, and Methods of Modern Authoritarians

len"" the democratic revolution from the Polish people
by failing to carry out a proper purge of communists
and their collaborators."" PiS even initiated a cam-
paign to sully the reputation of Lech Walesa, leader of
the anticommunist Solidarity movement in the 1980s,
by accusing him of working as a communist agent.’

Since coming to power with a parliamentary majority
in October 2015, PiS has embarked on a course of
change that places it solidly in the illiberal camp, with
many of the initiatives mirroring those enacted by
Fidesz in Hungary.

As in Hungary, an initial focus for the new government
was securing control of the Constitutional Tribunal.
PiS has moved to pack the court with its own appoin-
tees, using tactics that are blatantly illegal according
to Polish law and which have drawn criticism both
from the EU and the United States.'* However, party
leader Jarostaw Kaczynski, who holds a seat in the
parliament but no formal government position, has
much greater ambitions to refashion Poland along
culturally conservative and politically illiberal lines.

The media are a major target. The government quickly
asserted control over public broadcasters and purged
them of journalists whom it regarded as loyal to the op-
position.’” PiS officials have also spoken of the need to
“restore balance” to the private media by, among other
things, taking measures to reduce foreign ownership of
key outlets. Already, the new government has used its
power over the allocation of state advertising to reward
friendly media and punish its critics.'®

The new government has involved itself in a debate
over history. It proposed a law that would punish those
who use the phrase “Polish death camps’ to refer to
sites established by Nazi Germany in Poland during
World War II.!9 PiS leaders have demonized scholars,
such as the eminent historian Jan Gross, who have
published research on the participation of Poles in

the persecution of Jews during the war. Gross was
questioned by a prosecutor on his research, and there
was talk of rescinding an award he had received.”° The
government threatened to withdraw support from the
useum of the Second World War, a project that was
near completion in Gdansk and enjoyed strong support
from such highly regarded scholars as Timothy Snyder
and Norman Davies. PiS complained that the museum
focused on all victims of the conflict rather than on
specifically Polish suffering.”?

Perhaps the most unsettling measure enacted under

the PiS government is an ambitious law that, in the
name of counterterrorism, gives the security services
sweeping powers over telecommunications and
personal information. With this legislation, Poland
became one of the first countries in the democratic
world to embrace the use of telecommunications
shutdowns in a particular area, a measure that
smacks of digital repression.??

The law gives Poland's domestic intelligence agency
unrestricted access to personal data without ap-
proval from a court or any other body. Tax reports,
vehicle information, insurance information, financial
statements, and other records are all now available

to the intelligence service of a government that has
made a point of naming party loyalists to key security
positions. The legislation also grants the domestic
security agency the ability to shut down websites. The
action can be reviewed by a court within five days, but
this is far from reassuring in light of the government's
efforts to exert political control over the judiciary.

The legislation is ostensibly needed to counter acts of
terrorism. But Poland has not experienced a terrorist
act since 1939, and has one of the smallest popula-
tions of Muslim immigrants—often perceived as a risk
factor for terrorism—in Europe. Furthermore, the law
is written in vague terms that give the government
great latitude to decide what is and is not an act of
terrorism.23 Given the PiS leadership's penchant for
smearing its political adversaries as traitors to the
Polish nation,”* it is not inconceivable that such a law

could one day be used against the opposition.

llliberalism’s preconditions

The triumph of illiberal governments in countries like
Hungary and Poland raises the question of whether
the phenomenon will spread further. Might illiberal-
ism come to dominate a society with much deeper
democratic roots—Austria, France, or even the United
States?

From a practical standpoint, illiberal forces are unlikely
to transform countries where the political divide is rel-
atively equal and the established parties have strong,
loyal followings.

It is only when the mainstream parties suffer cata-
strophic electoral setbacks that illiberal challengers
can rush into the breach.

The Socialist Party had governed Hungary for much of
the period since 1989, but it rapidly lost credibility due

38

HOUSE_OVERSIGHT_019272
"
IMAGES-001-HOUSE_OVERSIGHT_011848.txt,"/ BARAK / 91

the diplomatic equivalent of the battlefield, triumphant against the odds. It was the
role he liked and played best. His next move was to take the show on the road: to
Arab, European and world capitals, pleading that he had been the “victim” of
summit chicanery in which President Clinton and I had presented him with a deal
no self-respecting Palestinian could accept. He was also campaigning for
international support for a move, in contravention of the final Camp David
communiqué, to “declare” a Palestinian state unilaterally in mid-September.

I spoke personally to Tony Blair and French President Jacques Chirac, and also
dispatched Shlomo-Ben Ami, Amnon Lipkin, Yossi Beilin and Shimon Peres, who
was Minister of Regional Cooperation in the coalition, on a series of diplomatic
visits to make sure the true story of what had happened at the summit was
understood. As a result, the globetrotting Arafat received an almost unanimous
rebuff for the idea of a unilateral declaration of stateheood. He was told that if he
really wanted a state, he should return to the negotiating table with Israel.

By the time I went to New York in early September — joining the largest
collection of world leaders ever assembled, for the UN’s Millennium Summit —
there seemed little chance of that happening. I met privately with a number of
world leaders before delivering a brief address to the more than 150 presidents and
prime ministers. I was at pains to take the high road. None of the foreign leaders I
met had expressed any doubt that we’d gone much further than they had expected
at Camp David, and that the onus for putting diplomacy back on track rested firmly
with the Palestinians. Looking straight at Arafat from the UN podium, I said: “We
are at the Rubicon, and neither of us can cross it alone.” Jerusalem, “the eternal
capital of Israel,” was calling out for a “peace of honor, of courage and of
brotherhood” — a peace recognizing that the city was also sacred to Muslims and
Christians the world over. When Arafat spoke, it was almost as if the summit had
never happened. “We remain committed to our national rights over East Jerusalem,
capital of our state and shelter of our sacred sites, as well as our rights on the
Christian and Islamic holy sites,” he declared. He didn’t mention Jews, beyond a
bizarre reference to the 2,000"" anniversary of the birth of Christ “in Bethlehem,
Palestine.” I couldn’t resist remarking to one of the American negotiators that I’d
always thought Jesus grew up as a Jewish boy, making thrice-yearly visits at
festival time to the temple in Jerusalem, at a time when there was not a church,
much less a mosque, in sight.

377
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He has categorically denied the allegation, and the two are scheduled to testify separately before the Senate Judiciary Committee on Thursday. Mr. Trump has stuck by Judge Kavanaugh, who would join Justice Neil M. 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TEXT-001-HOUSE_OVERSIGHT_030209.txt,"From: 
Sent: 
To: 
Subject: 
Fabrice Aidan 
7/11/2013 2:44:31 PM 
Jeffrey Epstein [jeeyacation@gmail.com] 
Fwd: (s) 7/11, Atlantic Council (Hof): Syria: Blackberry Diplomacy 
Importance: High 
You'll find it interesting. Warm regards 
Envoy& de mon iPhone 
Debut du message transfer&: 
Expecliteur: GBIU-MideastNews <GBIU-MideastNews@dentons.com> 
Date: 11 juillet 2013 16:43:09 UTC+02:00 
Destinataire: ""Cheves, Belle"" 
""Gray, Alex"" < 
B."" < 
Objet: (s) 7/11, Atlantic Council (Hof): Syria: Blackberry Diplomacy 
Atlantic Council 
Syria: Blackberry Diplomacy 
By Frederic C. Hof 
July 11, 2013 
, ""Mahle, Melissa 
, ""Seche, Stephen A."" 
'Dixon, Timothy"" 
A friendly discussion about Syria with a former US State Department colleague gave rise to a point I will not soon forget. 
""Fred, there's no time for policy deliberations about Syria or anyplace else. We live in the era of Blackberry diplomacy. We 
react and we improvise as best we can."" 
Anyone under the age of thirty reading the above would probably think, ""Why in the world is the US government using the 
Blackberry?"" Those who turned thirty long before the end of the last century—even those of us who try seriously not to be 
technological Luddites—wonder sometimes if the communications revolution and the 24/7 news cycle it has spawned will 
end up doing more harm than good to the progress of civilization and well-being of the republic. 
Those who have had the privilege and burden of working in the US national security establishment are well-acquainted 
with how hard it is to find time to think. This was true long before the advent of email and other forms of electronic 
communication. Although there may have been times when officials could contemplate great matters of state at something 
approaching leisure, those days have been long gone. Even offices created expressly to explore policy options stretching 
beyond a twenty minute horizon—the State Department's Policy Planning Staff comes to mind—routinely get pulled into 
the maelstrom of daily struggles to manage breaking developments through some combination of strategic messaging 
and diplomatic demarches. Email makes it easy for officials up-and-down the chain to plunge into the fray, battling to mold 
language for use at a daily briefing; language that all-too-often mystifies or misleads foreign listeners who hang on words 
from the podium as if they are meant to convey the results of deep, deliberative thought on the part of the world's only 
superpower. Yet email neither created the problem nor prevents its solution. 
The problem is the failure of government, certainly in the context of Syria and likely in other foreign policy contexts as well, 
to wrap the daily news cycle food fight in an insulated casing of objectives and strategy clearly understandable to those 
charged with planning and executing foreign or national security policy. There may be some who believe that objectives 
and strategy are just so 20th century; so Brent Scowcroft-like and so pre-Twitter. There may be some who actually handle 
affairs of state in ways they would not dream of applying to their personal financial portfolios. Perhaps resistance to 
structured, deliberative processes producing objectives and accompanying strategies is a function of fewer and fewer 
people in the national security establishment ever having availed themselves of military service; an experience where 
matters of this nature become, through training and education, as natural as breathing. Perhaps in the specific case of 
Syria there has been a temptation to avoid the hard choices such a process would serve up in the hope that the regime of 
Basher al-Assad would just go away, thereby making hard choices someone else's problem. 
HOUSE OVERSIGHT 030209 
The arrival of a new assistant to the president for national security affairs is an ideal opportunity to restore best practices 
to the national security apparatus. To her credit, Susan Rice appears to be reaching out with this very much in mind. If 
changes are made that better serve the president by forcing people to think through policy options in the context of 
objectives and strategies, those changes should not reflect poorly on the stewardship of her predecessor. The president 
gets precisely the national security system he mandates and deserves. He is, as JFK noted in the immediate wake of the 
Bay of Pigs fiasco, ""the responsible officer of government."" 
In the end it is the president, and not the Blackberry or some other device, who will drive the direction and processes of 
foreign policy and diplomacy. It is up to him to tell his national security advisor that he wants the interagency to stop 
tweeting and start thinking; to tell him how he should be evaluating US national security objectives with respect to Syria 
(for example) and strategy options aimed at accomplishing them. This kind of deliberative process will not require people 
to wear powdered wigs and inscribe talking points on parchment with quill pens. It will not even oblige them to disconnect 
electronically. 
Perhaps the biggest obstacle to an orderly national security process that is deliberative is the sheer brainpower of the 
people sitting atop the bureaucratic pyramid. Barack Obama and Susan Rice are among the very brightest people to 
serve in the US government. They may think they can figure Syria out themselves, within a small circle of trusted political 
advisers. They may think they can handle Syria without reaching beyond their own national security staff, without probing 
deeply into the Departments of State, Defense, the intelligence community, and elsewhere where additional expertise 
resides. They will outsmart themselves if that is the approach they choose. 
Blackberry diplomacy is a choice, not a device decision and certainly not a fact of life. Even in this day and age, it is 
possible to figure out what one wants and how to go about getting it: even in government work. 
an intu...ational legal „aviding tr..-ugh its met....-ff firms -id affiliates. Thk .maiI may be confidential and protected 
by legal privilege. If you are not the intended recipient, disclosure, copying, distribution and use are prohibited; please notify us immediately and delete this copy 
from your system. Please see dentons.com for Legal Notices, including IRS Circular 230. 
HOUSE OVERSIGHT 030210 
"
IMAGES-008-HOUSE_OVERSIGHT_026150.txt,"31 December

2016
Tier 1 146,079
Additional Capital-Sub Debt 72,515
Deductions -12,167
Total Regulatory Capital 206,427
CAD Ratio 21.37%
Implied RWA 965,965
Regulatory Capital excluding
Additional 133,912
CAD Ratio Adjusted 13.86%

Due to the large interest margins and the high commissions, the capital to be
created from profits is growing faster than the reduction of the capital
contributed by the subordinated debt.

Hie 2k 3s 2k sie 2k ie 2k ke 2k 2s 2k 2s 2c 2s 2k ok ie 2k 2 ok 2 2k is 2k ie 2k is 2s ois 2k ois 2k ois fs 2k ie 2s 2s ois ois 2k ais 2 is 2 2k ake ok ake ok ke 2 2s 2 2g 2 it 2k ok 2 ok 2 ok ok

Although Raiffeisen has already undergone a sales process twice, the last being 3
years ago, without success, I still consider the amount of its equity at EUR 350

million a very large amount to invest for gaining 0.8% more market share than that
of Ukrsib.

This information is as much I could gather but I will meet with EBRD for other
reasons and will try to extract more information mostly on the intentions of BNP in
dealing with their Ukrainian presence. From what I know EBRD’s 40% is
considered exceptionally high as equity participation percentage comparing to their
usual 10-15% and most probably they would be willing to listen to exit scenarios,
possibly remaining as shareholders at a lower percentage.

I think it is too early to discuss potential price but having EBRD inside already I
would assume that 1x less due diligence adjustments should be the maximum,

17

HOUSE_OVERSIGHT_026150
"
IMAGES-010-HOUSE_OVERSIGHT_030288.txt,"21

prominent neuroscientist Elizabeth Phelps suggest that directing our
thoughts of the future toward the positive is a result of our frontal
cortex's communicating with subcortical regions deep in our brain.
The frontal cortex, a large area behind the forehead, is the most
recently evolved part of the brain. It is larger in humans than in other
primates and is critical for many complex human functions such as
language and goal setting.

Using a functional magnetic resonance imaging ({MRI) scanner, we
recorded brain activity in volunteers as they imagined specific events
that might occur to them in the future. Some of the events that I asked
them to imagine were desirable (a great date or winning a large sum
of money), and some were undesirable (losing a wallet, ending a
romantic relationship). The volunteers reported that their images of
sought-after events were richer and more vivid than those of
unwanted events.

This matched the enhanced activity we observed in two critical
regions of the brain: the amygdala, a small structure deep in the brain
that is central to the processing of emotion, and the rostral anterior
cingulate cortex (rACC), an area of the frontal cortex that modulates
emotion and motivation. The rACC acts like a traffic conductor,
enhancing the flow of positive emotions and associations. The more
optimistic a person was, the higher the activity in these regions was
while imagining positive future events (relative to negative ones) and
the stronger the connectivity between the two structures. The findings
were particularly fascinating because these precise regions — the
amygdala and the rACC — show abnormal activity in depressed
individuals. While healthy people expect the future to be slightly
better than it ends up being, people with severe depression tend to be
pessimistically biased: they expect things to be worse than they end
up being. People with mild depression are relatively accurate when
predicting future events. They see the world as it is. In other words,

HOUSE_OVERSIGHT_030288
"
IMAGES-001-HOUSE_OVERSIGHT_011690.txt,"in which Dan’s division was key in staunching the Egyptian advance in the first
days of the war, later inflicted heavy losses on one of Sadat’s armored forces
and was part of the final push on the other side of the canal. And, of course,
during Entebbe. Dan had sharp tactical instincts, a belief in the importance of
using new technology to gain and sustain an edge, and an openness to
unconventional approaches. Faced with a challenge in planning or executing an
operation, he looked at it from all sides, determined to come up with the right
approach, not always the expected one. In a lot of these ways, we were similar,
which was no doubt one reason our relationship had grown closer as he and I —
Six years younger, and a step or two behind — rose up the ranks.

In fact, Dan was the reason I’d made one of my rare forays into kirya politics
not long after Moshe Vechetzi took over as chief of staff, when Misha Arens was
still Defense Minister. I acted to derail what seemed to me a blatant attempt by
Moshe to advance Drori’s and Amnon Lipkin’s prospects for eventual
succession as chief-of-staff, and to take Dan out of the contest altogether.

I was sitting at my desk on the third floor when the chief of internal army
security, an officer named Ben-Dor, walked into my office. “Listen,” he said,
“the chief of staff has a right to give me a direct order in cases where he thinks
there is a need for a special investigation. But you’re my commander, so I
wanted to let you know.”

“What is it?” I asked.

He replied that he had been ordered to “check out rumors that Dan Shomron
is a homosexual.”

I was appalled. The whole thing stank, on every level, and not just because I
was confident the “rumors” were nonsense. “Look,” I said, “I have no idea
whether some sub-clause in army regulations allows the chief-of-staff to give
you orders over my head. But even if it does, I’m ordering you to do nothing
until I talk to Moshe.” He nodded in agreement. In fact, he seemed relieved. He
also let me know that the source of the rumors was a number of senior officers,
including a couple of generals.

I went straight downstairs and into the chief-of-staff’s office. Moshe was at
his desk, smoking a cigarette. One of the advantages he had in being nearly a
foot taller than most of us was that I found myself looking not into his eyes, but
up at them. “Moshe,” I said, “Ben-Dor told me you’ve ordered him to investigate
a rumor that Dan Shomron is a homosexual.” He said nothing. So I went on.
“Tve told him not to do it. And ’ve come here to convince you that it’s

219
HOUSE_OVERSIGHT_011690
"
IMAGES-010-HOUSE_OVERSIGHT_029901.txt,"From: John Brockman Po

Sent: 12/31/2010 6:23:47 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Edge Question 2011 - An Invitation

Importance: — High

“Deliciously creative...the variety astonishes...intellectual skyrockets of stunning brilliance. Nobody
in the world is doing what Edge is doing."" Denis Dutton, ARTS & LETTERS DAILY

THE WORLD QUESTION CENTER

James Flynn has defined “shorthand abstractions"" (Cor ""“SHA'’s"") as concepts drawn from science that have
become part of the language and make people smarter by providing widely applicable templates C""market"",
""placebo"", “random sample,"" ""naturalistic fallacy,"" are a few of his examples). His idea is that the
abstraction is available as a single cognitive chunk which can be used as an element in thinking and
debate.

The Edge Question 2011
WHAT SCIENTIFIC CONCEPT WOULD IMPROVE EVERYBODY'S COGNITIVE TOOLKIT?

The term 'scientific""is to be understood in a broad sense as the most reliable way of gaining knowledge
about anything, whether it be the human spirit, the role of great people in history, or the structure of
DNA. A “scientific concept"" may come from philosophy, logic, economics, jurisprudence, or other analytic
enterprises, as long as it is a rigorous conceptual tool that may be summed up succinctly (or “in a
phrase"") but has broad application to understanding the world.

[Thanks to Steven Pinker for suggesting this year’s EDGE Question and to Daniel Kahneman for advice on
its presentation. ]

In Memoriam
DENIS DUTTON
1944-2010

Last year, the 2010 EDGE Question, ""How Is The Internet Changing The Way You Think?""
Chttp: //ww. edge.org/q2010/q10_index.html), generated 172 essays (132,000 words) and received global
press attention.

To date, the following have already responded to the 2011 EDGE Question: Clifford Pickover, Rudy
Rucker,Sean Carroll, Gino Segre, Jason Zweig, Dylan Evans, Steven Pinker, Martin Seligman, Gerald Holton,

Robert Provine, Nassim N. Taleb, Roger Schank, George Dyson, Milford Wolpoff, George Lakoff, W. Daniel
Hiliis, Nicholas Humphrey,Christian Keysers, Haim Harari, John Allen Paulos, Bruce Hood, Howard Gardner.

PERMALINK: http://www.edge.org/q2011/q11_index.html

user id: edge

password: q2011

(all lower case — password-protected until publication)
SUBMITTING ESSAYS: Email as text or attached word file to me.
DUE DATE: 8pm, Wednesday, January 12th

PUBLICATION DATE: Midnight, Thursday, January 13th

PRESS EMBARGO: Until publication. Do not cite or circulate.

EDITORIAL MARCHING ORDERS

Say something new, true, and interesting, based on your own experience, in 1,000 words or less. Email
contributions to me.

HOUSE_OVERSIGHT_029901
"
IMAGES-005-HOUSE_OVERSIGHT_019266.txt,"BREAKING DOWN DEMOCRACY: Goals, Strategies, and Methods of Modern Authoritarians

In May 2014, Putin signed a new law that criminalized
the purposeful distortion of the Soviet Union's role in
World War II. It could easily be applied to historians
who, for example, criticize Stalin's Great Terror and

its decimation of the military leadership in the years
before the war.'® Historians who make the “wrong”
interpretations of the Hitler-Stalin pact, the huge
casualties suffered by the Red Army, or the rape and
plunder committed by Soviet troops as they marched
toward Berlin might also risk criminal penalties.

In late 2016 the Russian Security Council discussed
the establishment of a new center to counter the
“falsification” of history. The council placed the pro-
posal in the context of the country’s national security,
pointing to “deliberate destructive activity by foreign
state structures and international organizations to
realize geopolitical interests by means of carrying out
anti-Russian policies.”

A group of experts identified six topics from Russia's
past that they claimed were being actively distorted
as part of an anti-Russia strategy. Among the topics:
the Soviet Union's ethnic policies, the Hitler-Stalin
pact, the Soviet Union's conduct during World War Il,
the 1917 Russian Revolution, and the Soviet Union's
suppression of uprisings in Hungary, Czechoslovakia,
and East Germany during the Cold War.” In each case,
the most serious and respected historical accounts
have been written by foreign scholars, due largely to

the pressures, including outright censorship, brought
to bear on Russian historians during Soviet times and

more recently during the Putin era.

China: Evading the past

Mao Zedong’s Great Leap Forward ranks among

the most deadly politically inspired catastrophes in
human history. From 1958 to 1962, Communist Party
authorities, under strict orders from Beijing, forcibly
herded millions of farmers into communes and then
proceeded to seize grain harvested in the countryside
to feed the urban population. The result, according to
long-standing estimates, was the death of some 30 mil-
lion people in the provinces. Historian Frank Dikotter,
who studied the archives in some of the most seriously
affected regions, has argued that the number of deaths
was at least 45 million, and others have cited higher
numbers. While most died of starvation, many were
tortured to death or murdered by local Communists.”

To this day, Communist Party officials have refused to
acknowledge anything approaching the full dimen-
sions of the tragedy. Nor have they admitted that the

party, and especially Mao, were responsible. Often
they blame the weather. There are no official monu-
ments to the victims, no days of commemoration, no
serious histories available to the general public, and
most significantly, no effort to place accountability
where it belonged.

Chinese leaders may be even more concerned about
presenting the “correct” interpretation of history
than their Russian counterparts. An updated offi-
cial version of the party history that was released in
2011 took 16 years to draft, including four extensive
rewrites. It was vetted by 64 state and party bodies,
including the People's Liberation Army. In telling the
story of the Great Leap Forward, the history admits
that the project brought great suffering, but credits
Mao with wanting to “change a picture of poverty and
backwardness and make China grow rich and strong
so that it could use its own strength to stand tall in
the forest of nations.””? In other words, one of the
century's great politically driven famines was justified
because it supposedly contributed to China's emer-
gence as a world power. The history also insists that
Mao tried to change course when he learned of the
growing rural suffering—an outright lie, as Mao actual-
ly doubled down on the most disastrous policies.

The determination to suppress any real assessment
of the dark corners of Chinese history under the
Communist Party is also reflected in the exhibits at
the National Museum of China in Tiananmen Square.
Mao's Cultural Revolution (1966-76), a period of polit-
ical terror and violent nationwide purges, is dispensed
with through one photograph and a brief caption,
located in an out-of-the-way part of the facility. As for
the famine, it is glossed over with the euphemistic
phrase, “the project of constructing socialism suffered
severe complications.’

Seven ‘don’t mentions’

In 2013, the General Office of the Communist Party
Central Committee issued a secret directive prohib-
iting universities from permitting the discussion of
seven themes—the “Seven Don't Mentions.” Accord-
ing to the directive, lecturers were not allowed to take
up universal values, freedom of the press, civil society,
civic rights, elite cronyism, Judicial independence, and
past mistakes of the Communist Party.

To independent-minded scholars, the most disturbing
item in the roster of Don't Mentions was the leader-
ship's mistakes. While the authorities have never come
close to permitting a serious investigation of either

32

HOUSE_OVERSIGHT_019266
"
IMAGES-006-HOUSE_OVERSIGHT_022048.txt,"ATTERSON

g undersea earthquake and tsu-
by several feet, shifting the earth
horrific and unprecedented. But
-votes four pages and seven sepa-
That same day, the Telegraph runs
mes runs a two-page spread head-

AY OVER ANDREW. | CHAPTER 63

ian runs one more piece about

{EADLINES DESPITE THE EARTHQUAKE,

Alan Dershowitz: September 2014

f the ongoing lawsuits are costing Epstein millions, he has
millions left to spare. Meanwhile, the FBI’s investigation into
whether Epstein trafficked underage women across state lines
seems to be going nowhere. As 2014 draws to a close, it’s begin-
ning to look as if Epstein is finally free and clear of the case.
But for Epstein’s friend and sometime lawyer Alan Dershow-
q itz, things are about to get very unpleasant.
| At the start of 2008, Bradley Edwards, the Fort Lauderdale
_ lawyer, had filed a motion in a West Palm Beach court on behalf
of two unnamed women accusing Prince Andrew and Alan Der-
‘showitz of participating directly in Epstein’s illegal activities.
. Prince Andrew had had no comment to make, and Dershow-
itz had objected to the accusations in the strongest possible
erms.

7 “There’s absolutely no kernel of truth to this story,” he’d said.

240 241

HOUSE_OVERSIGHT_022048
"
TEXT-001-HOUSE_OVERSIGHT_031103.txt,"From: Weingarten, Reid 
Sent: 7/6/2019 12:50:57 PM 
To: J [jeevacation@gmail.com] 
Subject: Re: 
Have a hysterical wynn-trump issue that will make you laugh 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Saturday, July 6, 2019 8:28 AM 
To: Weingarten, Reid 
Subject: Re: 
dont know. ,. bannon for breakfast tomor. . everyone confused. markets strong. 
On Sat, Jul 6, 2019 at 2:26 PM Weingarten, Reid <__________________________> wrote: 
Charged criminally in sdny...Lithuanian hottie...take it you don't know him...what's your headline? 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Saturday, July 6, 2019 8:09 AM 
To: Weingarten, Reid 
Subject: Re: 
Pb divorce? Fun 
On Sat, Jul 6, 2019 at 1:55 PM Weingarten, Reid < 
It is Todd kozel... 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Saturday, July 6, 2019 7:51 AM 
To: Weingarten, Reid 
Subject: Re: 
I leave monday at 10 a m breakfast? 
> wrote: 
On Sat, Jul 6, 2019 at 1:45 PM Weingarten, Reid <_________________________> wrote: 
Are you in nyc monday? 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Saturday, July 6, 2019 3:41 AM 
To: Weingarten, Reid 
Subject: 
where are you, im in ny on sunday. 
HOUSE OVERSIGHT 031103 
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 
constitute inside information, and is intended only for 
HOUSE OVERSIGHT 031104 
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 031105 
"
IMAGES-008-HOUSE_OVERSIGHT_026144.txt,"less than 10 days 2 0.2 0.5 0.1 2.8

overdue

11-30 days overdue 1 0.1 0.2 1.3

31-90 days overdue 0.5 0.5

91-180 days overdue

181-360 days overdue

over 360 days overdue

Total past due but not 3 0.3 1.2 0.1 0 4.6

impaired

Loans to be impaired

not yet past due 5 13 0.7 27 «45.7

less than 10 days 0.3 0.3 0.6

overdue

11-30 days overdue 0.1 0.1

31-90 days overdue 3 6 9

91-180 days overdue 4 11 0.4 15.4

181-360 days overdue 8 22 0.3 30.3

over 360 days overdue 149 20 2.5 0.6 28 200.

Total loans to be 169.4 66 3.9 0.6 61.3 301.

impaired 2

Total loans before 240 82 46 8 591 967

provisions

Provisions -140 -38 =) “1 -55 -239

Net loans 100 44 41 7 536 728
11

HOUSE_OVERSIGHT_026144
"
IMAGES-001-HOUSE_OVERSIGHT_011684.txt,"Middle East Affairs, and four years later the United Nations envoy, Count Folke
Bernadotte.

“Why are you so strident,” Shamir asked me, only half-jokingly, after ’'d
insisted on joining a government discussion and pressing several intelligence
matters. “It’s because I’ve read the Lebanon inquiry,” I replied. “I saw what
happened when a message isn’t delivered assertively. I’m not going to be in the
position of making the same mistakes.” He nodded, and didn’t raise it again.

In fact, it was under Shamir that I began to get more involved with political
and policy issues beyond the armed forces. Part of this came with the job of
Rosh Aman. There was hardly a major domestic or foreign challenge that did
not have some security component, and no security matter on which intelligence
was not critical. But I also found myself working more closely with leading
politicians: mainly Shamir and Misha Arens, who as defense minister was my
main point of contact. Since I was a Labor kibbutznik, we made an odd
threesome. Arens was also a lifelong Jabotinsky Zionist. He had been in the
Betar youth movement in America, before going to Palestine in 1948 and
joining the Irgun. In fact, it was with Misha’s personal backing that one of my
former Sayeret Matkal officers — the son of a Jabotinsky acolyte — had recently
taken his first steps into the political limelight. After a two-year stint as Israel’s
number-two diplomat in Washington, Bibi Netanyahu had become our
ambassador to the United Nations.

With both Arens and Shamir, I built a solid relationship, based on mutual
respect, and it would deepen further when I moved on to a wider role in the
kirya a few years later. They were straight talkers. While resolute about
decisions once they’d taken them, they were genuinely open to discussion and
debate. I also sometimes found a surprising degree of nuance behind their tough
exterior.

The toughness was there, however. One of the first major security crises we
faced after Shamir became Prime Minister was known as the Kav 300 affair,
named for the bus route between the southern port city of Ashdod and Tel Aviv.
On the evening of April 12, 1984, four Palestinians from Gaza boarded the bus
and hijacked it back toward the border with Egypt. They told the passengers they
were armed with knives, and that a suitcase which one of them was carrying
contained unexploded anti-tank shells. After a high-speed chase, an Israeli army
unit managed to shoot out the tires and disable the vehicle, when it was still
about ten miles short of Gaza. One of the passengers had been severely injured at

213
HOUSE_OVERSIGHT_011684
"
IMAGES-010-HOUSE_OVERSIGHT_029915.txt,"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

ee (1)

Fron Tees On Behalf Of Benjamin Wegg-Prosser
Sent: November-08-10 10:08 AM

To: Michael Greenberg
Ce: 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

Ce

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=63423628 1106041875

- 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
"
IMAGES-007-HOUSE_OVERSIGHT_024070.txt,"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.

59 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024070
"
IMAGES-003-HOUSE_OVERSIGHT_015213.txt,"American flag shirt. Nor did she have any way of knowing that when he
wore another American flag shirt on 7he Merv Griffin Show, his half of the
TV screen was blocked out all across America. She was, in short, unaware
of the roots of her own, limited freedom.

kok #

It’ s Saturday night, and the Carnival Masquerade Ball is being held
in the huge Convention Center Ballroom. On the wall behind the stage are
gigantic masks. Above the tables are gold and purple balloons, fashioned
after either somebody’ s school colors or a Chinese restaurant’ s little hot
mustard and soy sauce plate. The taped music is loud, and the dancing is
raunchy, enhanced by gaudy yellow, blue and red lights. Pheromones are
flying, and the costumes are kinky.

“Costumes,” the program states, “may be anything of fertile
imagination (genital area musts be covered) for an exotic night of adult
social fun.” Hey, look who’ s here: Superman. The Phantom of the Opera.
The devil. Mickey Mouse and Minnie Mouse (in a see-through top). An
executioner. An Arabian potentate. A gold-plated pharaoh. A chicken lady
covered with big yellow feathers. A guy in a dog collar being led around
on a leash. And the one-legged man, who is wearing a roller skate as his

costume.

HOUSE_OVERSIGHT_015213
"
IMAGES-012-HOUSE_OVERSIGHT_033164.txt,"From: Richard Kahn [oo

Sent: 3/24/2015 8:00:21 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Eric Roth

Attachments: image001.jpg; image002.jpg; image003.jpg

Importance: — High

he appears to be looking for a response from me as i never replied to his email offering a 10,000 discount
please advise

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue 4th Floor
New York, NY 10022

Begin forwarded message:

From: Eric Roth <->

To: Richard Kahn <j >
Subject: 10:00pm Tonight - CNBC Feature
Date: March 24, 2015 at 2:12:01 PM EDT

Hi Richard,
Hope all is well.

Should you be bored this evening, we will be featured on CNBC’s “Secret Lives of The Super Rich” showcasing our S-76
helicopter refurbishment for Donald Trump — thought you might enjoy getting a glimpse of what we do.

Best regards,

Eric

ERIC H. ROTH | PRESIDENT
«. \ international jet

www. intljet.com E Vv

2221 Smithtown Avenue, Long Island MacArthur Airport, Ronkonkoma, New York 11779

HOUSE_OVERSIGHT_033164
"
IMAGES-004-HOUSE_OVERSIGHT_017602.txt,"the people who were, you know, doing these interrogations, because the logic, which | think Mark
had mentioned, is, you know, this circular logic. So long as there are trained psychologists from

the SERE program who are on site at these interrogations who are saying that these detainees can
withstand this treatment, are not being harmed psychologically, then it’s not torture. So, you know,
you've got this sort of [inaudible] tortured — tortured logic, which is the phrase that has come up, but
it’s this sort of self-justifying loop in which professionals are loaning their credentials to this kind of
activity. And you see the same thing in the Office of Legal Counsel, where you have, you know,
lawyers loaning their credentials to approving what are clear violations of the Geneva Conventions.""

(https://www.democracynow.org/2009/4/21/the story of mitchell jessen associates )]

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_017602
"
TEXT-001-HOUSE_OVERSIGHT_025176.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 1/20/2017 12:32:18 PM 
To: David Grosof 
Subject: Re: Your Special Day 
Importance: High 
yes , now assume that there i a balancing force. and gravity is merely the result of paticles being pushed 
together . etc 
On Fri, Jan 20, 2017 at 7:26 AM, David Grosof wrote: 
http://xkcd.com/123/ can't resist! 
Please forgive typos. Sent from Android Nexus 6 phone. 
On Jan 20, 2017 4:14 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote: 
probablity and statistics gets its strengh from the law of large numbers. centrifigal force is a pseudo 
force but not distinguishable in the right frame. . like gravity, lets assume that there is a force pushing 
heads and tails towards a 50 50 distribution. . not merely recording it. regression to the mean. etc. would 
. could be a force similar to the EM one. 
On Fri, Jan 20, 2017 at 7:11 AM, David Grosof < > wrote: 
Cool. And the former question, of clarification? 
Please forgive typos. Sent from Android Nexus 6 phone. 
On Jan 20, 2017 4:10 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote: 
pretty well 
On Fri, Jan 20, 2017 at 7:02 AM, David Grosof < wrote: 
Probability as a force rather than a what? 
Didn't suss out the next word... 
Watson's pretty wild and fun, if overconfident about some ideas about autism when I saw him talk —4 years 
ago on book tour @Google. I met him once through Gunther Stent, as well as Crick on another occasion. 
Know him well? 
D. 
Please forgive typos. Sent from Android Nexus 6 phone. 
On Jan 20, 2017 2:47 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote: 
1. is probability a force rather than a markter. if you look at a bell curve from scratch, it looks as if it 
under a force pushing things towards the center. i think gravity might be just that. 2. all signals 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 built in. 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: 
HOUSE OVERSIGHT 025176 
all good.A A thx.A A areas of interest,A A A A distribuitionsA in nature. .A A A A 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 Grosof <____________________> 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. 
* early-stage life science-based ventures, especially those with one or more of these technologies: optics, 
wearable-sensors, brain-computer interface, behavioral engineering that goes beyond robo-noodging. I 
am not up to speed on synthetic bio and CRISPR, but I have a good friend who is. 
* cybersecurity for you and your life. I have carefully monitored the web for articles about you and I 
have reason to think that those will persist indefinitely. I would be remiss as your friend if I did not 
encourage you to be as diligent and smart as possible in using tools like Signal, two-factor/multi-factor 
authentication, taking webmail archives off the web onto your own secure privately maintained archive 
or deleted (unlike Podesta), and other measures. 
HOUSE OVERSIGHT 025177 
* publicity for your cool-ass creative and important philanthropy in support of really good and 
adventuresome, high-risk basic science research. Most obvious benefit: it would be nice to know you 
hung out with the bright 
David Grosof 
AA AA AA A 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 
David Grosof 
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 025178 
The information contained in this communication is 
confidential, 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 025179 
"
IMAGES-008-HOUSE_OVERSIGHT_024753.txt,"CHAPTER VII
Capital Markets for

Cannabis Companies

m Capital Markets Overview

Hundreds, if not thousands, of cannabis-related companies are seeking to raise capital—thus pre-
senting investment opportunities for sophisticated investors who want to participate in the cannabis
industry. Investors have their choice of investing in the more than 300 publicly traded cannabis-related
companies, or in the significant number of private companies raising capital. Investors may also choose
among stock markets (both within the United States and internationally), type of security (equity
versus debt) and type of company (companies across all segments of the industry are raising capital).

It is important to note, however, that most of the cannabis-related companies that are raising cap-
ital—even publicly traded companies—are in early stages of development, have de minimis revenue
and are not profitable. More than 85% of the publicly traded cannabis-related companies have annual
revenue of less than $5 million, and less than 5% have annual revenue greater than $25 million.

Most investors in the cannabis industry today are retail or individual investors. While an increas-
ing number of family office and strategic investors are now participating in the cannabis industry,
we believe that many institutional investors (most notably the traditional venture capital and private
equity communities) will not invest in the industry until more companies in the industry mature and
the legal environment becomes more favorable.

Cannabis-related companies raised more than $2.0 billion in the public and private markets in
2017; however, except for a few transactions of notable size, many of the financings were small (less
than $5 million), which provides further evidence that the capital markets are being driven primarily
by retail investors. Without traditional institutional investor support, a funding gap exists in the indus-
try: companies are seeking to raise more capital than investors are willing or able to provide. We believe
that this is especially true in the private markets, where many companies struggle to raise financing.

We share the belief held by many that, ultimately, established companies from analogous indus-
tries—alcohol, pharmaceutical, tobacco and consumer products—will enter the cannabis industry

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC 117

HOUSE_OVERSIGHT_024753
"
IMAGES-006-HOUSE_OVERSIGHT_020887.txt,"Entitlement Spending: Observation from Previous Slide

e Clearly, lower interest rates have allowed Americans to
borrow more and save less. But given the high correlation
between rising entitlement income for beneficiaries and
declining savings rates, one might also wonder if Americans
feel less compelled to save money as they feel that they can
depend on the government to give them money.

Note: Savings rate is the amount of money saved divided by income after taxes.

KP
i USA Inc. | Income Statement Drilldown 91

Entitlement Spending: Social Security Now Provides

37% of an Average Retiree’s Income, Up From 31% in 1962

Sources of Retirement Income for Average Americans, 1962 - 2008

——— Personal
Earnings*

—— Social
Security

——Pensions +
IRAs +
401 (k)s**

% Total Pension

0% . T T T T T T T T T T T T T T T
1962 1968 1974 1980 1986 1992

2004

Note: *Personal earnings include income from investment & assets + salaries; ** occupational pensions include regular payments from private
pensions, government employee pensions, IRAs, 401(k)s. Source: Social Security Administration Office of Retirement and Disability Policy

KP
www.kpcb.com USA Inc. | Income Statement Drilldown

oO
N

HOUSE_OVERSIGHT_020887
"
IMAGES-006-HOUSE_OVERSIGHT_021541.txt,"° :

Sees! »
(Rev. 06-04-2007) b7Cc

FEDERAL BUREAU OF INVESTIGATION

Precedence: ROUTINE Date: 04/22/2008

rom: New York
C41
Contact: SA
Approved By:
Drafted By:

Case ID #: 31E-MM-108062- :
-  (G,

Title: JEFFREY EPSTEIN;

WSTA-CHILD PROSTITUTION
Synopsis: Response to lead at[ | New York, to interview
[F302 attached. This lead is completed.

Details: [was interviewed regarding above captioned
matter. Results set forth in attached FD-302.

LEAD (s):
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MIAMI
AT PBCRA

Read and Clear.

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HOUSE_OVERSIGHT_021541

"
IMAGES-009-HOUSE_OVERSIGHT_027613.txt,"Time:
Flags:
Is Read: No

Is Invitation:
GUID:

Message:

Lebo O98 1

03/27/19 01:06:40 AM

No

(575366800)

C1ADAD4 8 -ADB6-44A4- 9A4C-5C469790B5FA

Sender:

Time:
Flags:
Is Read: Yes

Is Invitation:

1060865

03/27/19 01:07:00 AM

No

Pe

42B5-BBAF-F598ADOABCI

Now Geneva tomorrow,

(575366820)

Gl
co

03/27/19 01:35:42 AM

GUID: 7355A056-F66E
Message: She is not
Sender: e:]j

Time:

Flags: 1150981

Is Read: No

Is Invitation:

No

going to Paris ???

itunes@gmail.com

(575368542)

GUID: CC416917-BD0E-4342-811C-40F13DF004EB
Message: Didn't hear from you so / changed - now maybe Sunday
Sender: e:jeeitunes@gmail.com

Time: 03/27/19 02:03:03 AM (575370183)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 6492A1FB-3ED7/-41EA-9C8E-DOBF3F36DICA
Message: Btw- Miro is the best informed on Europe
Sender: P

Time: 03/27/19 02:05:24 AM (575370324)

Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 34FO0DBI1A-2C45-4D77-BA88-366D7D1C0C06
Message: You are going to Geneva not her sh
Sender: e:jeeitunes@gmail.com

Time: 03/27/19 02:05:53 AM (575370353)

Flags: 1085445

comes to Paris maybe Sunday correct

HOUSE_OVERSIGHT_027613
"
IMAGES-009-HOUSE_OVERSIGHT_028246.txt,"/ BARAK / 112

then in response to Hamas rocket fire into Israel. The moral: Arik was wrong to
withdraw. But the Islamists’ ascendancy was happening anyway. After all, it was
Hamas attacks that provided the spearhead of the intifada of terror launched in the
wake of Camp David. Arafat’s own influence was also inexorably on the wane by
the time he passed away, in Paris, at the end of 2004, to be succeeded by Abu
Mazen. I do not know of a single senior figure in Israel with any military
experience who believes that we would be more secure today if we still had
thousands of soldiers and settlers inside Gaza. Surprised though I was by Arik’s
decision to leave, I had no doubt that the fundamental security judgment he was
making — that a disengagement was in Israel’s own interest — was the right one. I
was encouraged, too, by his parallel announcement of a small, token withdrawal
from a few small West Bank settlements. My regret at the time was that he did not
go further toward the kind of major West Bank disengagement I’d been arguing
for, and that even in Gaza the pullout seemed insufficiently prepared or thought
out. The model, I believed, should have been our withdrawal from Lebanon —
involving detailed prior consultation with, and political support from, the UN and
key international allies. I also felt it was critically important to ensure that, while
we would obviously need offshore patrols to prevent arms and munitions from
getting in, we allowed and encouraged an environment in which the Gazan
economy could function and grow after we left. None of that happened. Though we
left Gaza, we effectively sealed off and blockaded one of the most densely
populated, economically strapped and politically febrile strips of land on the face
of the earth.

Still, I did see it as an important first step toward the kind of wider
disengagement that would prioritize Israel’s own security interests, and political
and social cohesiveness, until and unless conditions allowed a for a serious new
effort for a final peace deal. I was heartened when Shimon led Labor back into
Arik’s coalition at the start of 2005 to ensure he’d have the support necessary to go
through with the Gaza withdrawal. And while I did make a brief attempt to return
as party leader later in the year, when it was clear I wasn’t going to win, I threw
my support behind Shimon and against the other challenger, the longtime labor-
union leader Amir Peretz, who was running on a platform to take Labor out of
Sharon’s government.

But Peretz won the leadership election. He did leave the cabinet, forcing Arik to
call an early election for March 2006. And that, along with the most ambitious and

398
HOUSE_OVERSIGHT_028246
"
IMAGES-006-HOUSE_OVERSIGHT_021227.txt,"HOUSE_OVERSIGHT_021227
"
IMAGES-009-HOUSE_OVERSIGHT_027175.txt,"GUID: 83D024AC-D8A8-4C66-91C3-254CE27BO78A

Message: No I mean that is the only patent I could find associated with those exact
keywords

Time: 02/22/17 08:39:33 AM (509474373)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 598875D0-35E3-465C-8C99-2E96CE1 92BF8

Message: 2005

Time: 02/22/17 11:29:33 AM (509484573)
Flags: 1126401
Is Read: Yes

Is Invitation: No

GUID: E19635AB-FE85-4147-9B9A-6BBEC6F06781

Message: https://www-.healthit.gov/sites/default/files/11-74-
ablockchainforhealthcare.pdf

Sender: e:jeeitunes@gmail.com

Time: 02/22/17 01:49:04 PM (509492944)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: 55059076-1C17-4B74-A170-O23B6BC224DD

Message: I'm meeting with lauder re alzheimer on friday, also with jim watson. you
can tell bill he is always welcome to ask questions

Time: 02/22/17 02:15:25 PM (509494525)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 92CC44B8-356C-469E-B9FB-F39199BBAF83

Message: Will Do

Sender: PF

Time: 02/23/17 02:10:22 PM (509580622)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 16CCFFF6-DB84-4C4C-B9BA-1C3F3207981D

HOUSE_OVERSIGHT_027175
"
TEXT-001-HOUSE_OVERSIGHT_025610.txt,"﻿                    
3 April, 2011

Article 1.	NYT
In Israel, Time for Peace Offer May Run Out
Ethan Bronner	
Article 2.	Le Monde diplomatique
The Arab spring - Follow the money
Samir Aita	
Article 3.	Guardian
Obama doctrine? If only
Michael Boyle	
Article 4.	The Economist
American foreign policy - Why it's a theory, not a doctrine	
Article 5.	The Atlantic
Struggling to Restart Egypt's Stalled Revolution
Eric Trager	
Article 6.	The Washington Institute
Qatar's Quest to Become the Leading Arab State
Simon Henderson	



Article 1.

NYT

In Israel, Time for Peace Offer May Run Out

Ethan Bronner



April 2, 2011 — With revolutionary fervor sweeping the Middle East, Israel is under mounting pressure to make a far-reaching offer to the Palestinians or face a United Nations vote welcoming the State of Palestine as a member whose territory includes all of the West Bank, Gaza and East Jerusalem. 

The Palestinian Authority has been steadily building support for such a resolution in September, a move that could place Israel into a diplomatic vise. Israel would be occupying land belonging to a fellow United Nations member, land it has controlled and settled for more than four decades and some of which it expects to keep in any two-state solution. 

“We are facing a diplomatic-political tsunami that the majority of the public is unaware of and that will peak in September,” said Ehud Barak, Israel’s defense minister, at a conference in Tel Aviv last month. “It is a very dangerous situation, one that requires action.” He added, “Paralysis, rhetoric, inaction will deepen the isolation of Israel.” 

With aides to Prime Minister Benjamin Netanyahu thrashing out proposals to the Palestinians, President Shimon Peres is due at the White House on Tuesday to meet with President Obama and explore ways out of the bind. The United States is still uncertain how to move the process forward, according to diplomats here. 

Israel’s offer is expected to include transfer of some West Bank territory outside its settlements to Palestinian control and may suggest a regional component — an international conference to serve as a response to the Arab League peace initiatives. 

But Palestinian leaders, emboldened by support for their statehood bid, dismiss the expected offer as insufficient and continue to demand an end to settlement building before talks can begin. 

“We want to generate pressure on Israel to make it feel isolated and help it understand that there can be no talks without a stop to settlements,” said Nabil Shaath, who leads the foreign affairs department of Fatah, the main party of the Palestinian Authority. “Without that, our goal is membership in the United Nations General Assembly in September.” 

Israeli, Palestinian and Western officials interviewed on the current impasse, most of them requesting anonymity, expressed an unusual degree of pessimism about a peaceful resolution. All agreed that the turmoil across the Middle East had prompted opposing responses from Israel and much of the world. 

Israel, seeing the prospect of even more hostile governments as its neighbors, is insisting on caution and time before taking any significant steps. It also wants to build in extensive long-term security guarantees in any two-state solution, but those inevitably infringe the sovereignty of a Palestinian state. 

The international community tends to draw the opposite conclusion. Foreign Secretary William Hague of Britain, for example, said last week that one of the most important lessons to be learned from the Arab Spring was that “legitimate aspirations cannot be ignored and must be addressed.” He added, referring to Israeli-Palestinian talks, “It cannot be in anyone’s interests if the new order of the region is determined at a time of minimum hope in the peace process.” 

The Palestinian focus on September stems not only from the fact that the General Assembly holds its annual meeting then. It is also because Prime Minister Salam Fayyad announced in September 2009 that his government would be ready for independent statehood in two years and that Mr. Obama said last September that he expected the framework for an independent Palestinian state to be declared in a year. 

Mr. Obama did not indicate what the borders of that state would be, assuming they would be determined through direct negotiations. But with Israeli-Palestinian talks broken off months ago and the Middle East in the process of profound change, many argue that outside pressure is needed. 

Germany, France and Britain say negotiations should be based on the 1967 lines with equivalent land swaps, exactly what the Netanyahu government rejects because it says it predetermines the outcome. 

“Does the world think it is going to force Israel to declare the 1967 lines and giving up Jerusalem as a basis for negotiation?” asked a top Israeli official who spoke on condition of anonymity. “That will never happen.” 

While the Obama administration has referred in the past to the 1967 lines as a basis for talks, it has not decided whether to back the European Union, the United Nations and Russia — the other members of the so-called quartet — in declaring them the starting point, diplomats said. The quartet meets on April 15 in Berlin. 

Israel, which has settled hundreds of thousands of Jews inside the West Bank and East Jerusalem, acknowledges that it will have to withdraw from much of the land it now occupies there. But it hopes to hold onto the largest settlement blocs and much of East Jerusalem as well as the border to the east with Jordan and does not want to enter into talks with the other side’s position as the starting point. 

That was true even before its closest ally in the Arab world, President Hosni Mubarak of Egypt, was driven from power, helping fuel protest movements that now roil other countries, including Jordan, which has its own peace agreement with Israel. 

“Whatever we put forward has to be grounded in security arrangements because of what is going on regionally,” said Zalman Shoval, one of a handful of Netanyahu aides drawing up the Israeli proposal that may be delivered as a speech to the United States Congress in May. “We are facing the rebirth of the eastern front as Iran grows strong. We have to secure the Jordan Valley. And no Israeli government is going to move tens of thousands of Israelis from their homes quickly.” 

Those Israelis live in West Bank settlements, the source of much of the disagreement not only with the Palestinians but with the world. Not a single government supports Israel’s settlements. The Palestinians say the settlements are proof that the Israelis do not really want a Palestinian state to arise since they are built on land that should go to that state. 

“All these years, the main obstacle to peace has been the settlements,” Nimer Hammad, a political adviser to President Abbas, said. “They always say, ‘but you never made it a condition of negotiations before.’ And we say, ‘that was a mistake.’ ” 

The Israelis counter that the real problem is Palestinian refusal to accept openly a Jewish state here and ongoing anti-Israeli incitement and praise of violence on Palestinian airwaves. 

Another central obstacle to the establishment of a State of Palestine has been the division between the West Bank and Gaza, the first run by the Palestinian Authority and the second by Hamas. Lately, President Abbas has sought to bridge the gap, asking to go to Gaza to seek reconciliation through an agreed interim government that would set up parliamentary and presidential elections. 

But Hamas, worried it would lose such elections and hopeful that the regional turmoil could work in its favor — that Egypt, for example, might be taken over by its ally, the Muslim Brotherhood — has reacted coolly. 

Efforts are still under way to restart peace talks but if, as expected, negotiations do not resume, come September the Palestinian Authority seems set to go ahead with plans to ask the General Assembly to accept it as a member. Diplomats involved in the issue say most countries — more than 100 — are expected to vote yes, meaning it will pass. (There are no vetoes in the General Assembly so the United States cannot save Israel as it often has in the Security Council.) 

What happens then? 

Some Palestinian leaders say relations with Israel would change. 

“We will re-examine our commitments toward Israel, especially our security commitments,” suggested Hanna Amireh, who is on the 18-member ruling board of the Palestine Liberation Organization, referring to cooperation between Palestinian and Israeli troops. “The main sense about Israel is that we are fed up.” 

Mr. Shaath said Israel would then be in daily violation of the rights of a fellow member state and diplomatic and legal consequences could follow, all of which would be painful for Israel. 

In the Haaretz newspaper on Thursday, Ari Shavit, who is a political centrist, drew a comparison between 2011 and the biggest military setback Israel ever faced, the 1973 war. 

He wrote that “2011 is going to be a diplomatic 1973,” because a Palestinian state will be recognized internationally. “Every military base in the West Bank will be contravening the sovereignty of an independent U.N. member state.” He added, “A diplomatic siege from without and a civil uprising from within will grip Israel in a stranglehold.” 






Article 2.

Le Monde diplomatique

The Arab spring - Follow the money

Samir Aita



April 2011 -- The reasons for the Arab spring go deeper than immediate demands for freedom and democracy. The protesters want to end the political economy and the authoritarian regimes in place since the 1970s.   Monarchies in the Arab world have been absolute, and life-long presidents (with hereditary office) ruled the republics, because they created a supreme power above both state and post-independence institutions (1). They set up and controlled their own security services to ensure that their powers would endure; the services escaped parliamentary or government supervision, and their members could reprimand a minister and impose decisions. It costs money to run such services, and the clientelist networks of one-party states. The funds derive not from public budgets, as do those for the police and the army, but from different sources of revenue. (The New York Times recently reported that Muammar Gaddafi had demanded in 2009 that oil firms operating in Libya should contribute to the $1.5bn he had promised to pay in compensation for the Lockerbie terrorist murders – or lose their licences. Many paid. And Gaddafi’s immediate cash holdings of billions of dollars are thought to be funding his mercenaries and supporters to defend him.)   After the spectacular 1973 rise in crude oil prices, Middle Eastern revenues increased considerably. Through the distribution circuits, and in collusion with major multinationals, part of the revenue went direct to the coffers of the royal or “republican” families instead of to the state. Nor was oil their only source of revenue. After there were no more commissions on major public contracts, civil and military, because of budget deficits and structural adjustments, new opportunities arose. In the 1990s there were mobile telephone network launches, and the first major privatisations of public services, with public-private partnerships and build-operate-transfer (BOT) contracts. Mobile networks had massive margins, especially at the start when better-off clients were prepared to pay high prices. The major multinational operators, influential businessmen and governments fought to capture the income. (There is evidence for this in the legal dispute over Djezzy, the Algerian branch of the Egyptian operator Orascom, and the Algerian military, and in a previous dispute between Orascom and Syria’s Syriatel, which happened just as the first large Arab multinationals emerged.)   The globalisation of Arab economies and the demands of the International Monetary Fund – supported by the European Commission for the Mediterranean countries – tightened the regimes’ hold on the economy, especially after the oil price crash of 1986. The ensuing decline in public investment and weakening of the governmental regulatory role ensured that the major multinationals held monopolies or oligopolies in exchange for sharing revenue with the powers-that-be. The senior management of the global corporations knew exactly where major decisions were taken and who the imposed local partners were for any new investment: the Trabelsi and Materi families in Tunisia, the Ezz and Sawires in Egypt, the Makhlouf in Syria, Hariri in Lebanon. The Sawires sold their shares in Orascom-Mobinil to France Telecom and offloaded their cement holdings before the Egyptian revolution. Najib Mikati, who had sold Investcom to the South African group MTN, is currently in charge of appointing the new government in Lebanon.  Enthralled by the Dubai miracle, all the Arab countries ventured into real estate transactions that allowed them to dissimulate a public/private interest mix. Land was expropriated and then sold cheaply to property developers. Historic city centres were neglected but the local riad (traditional palaces) were renovated by international investors, charmed by the exotic East, and property prices rose on a par with London, Paris or Tokyo. None of this would have been possible without banking, which facilitated the laundering of revenue and found ways to recycle it in real estate and commercial transactions. Banks were also the instruments of governments, providing credit to secure the lasting allegiance of local entrepreneurs.

Erosion of public services

But the state weakened and public services eroded. Where there was a need to send representatives abroad or to tap expertise at home, government members were co-opted; the good ones were technocrats from major international institutions such as the World Bank, but they lacked electoral legitimacy or programmes for which they would be accountable. The state ceased to be seen as a bureaucracy. Even the army weakened as well-equipped praetorian guards guaranteed the continuity of power (2).

Arab governments bore no resemblance to those after independence, which had electrified the countryside and established universal public education. Public services deteriorated, as reports by the UN Development Programme (UNDP) observed, because of privatisations entirely for revenue raising. Even Jeddah in oil-rich Saudi Arabia only has running water one day a week; and a Saudi prince authorised construction work in a valley without planning drainage, resulting in lethal floods.   After every scandal there was an anti-corruption campaign, to little effect. The campaigns implied that corruption was a moral or religious issue rather than a systemic predation by leaders in alliance with business. Human dignity and work values were flouted. About a third of the working population in Arab countries is in the unofficial economy, in small jobs not included in unemployment statistics, which have been in double digits for a decade. Another third are self-employed, or employees without work contracts, social security, retirement or union rights. The concept of the employee is disappearing, outside the public sector and government. There, social rights have been maintained and so jobs are coveted, especially by women, but openings are rare, because of the “structural adjustment” policies required by government spending cuts. The labour market is also fragmented by massive migration, both permanent (Palestinians, Iraqis or Somalis fleeing war) and temporary (mainly Asian), where migrants’ economic and social rights are eroded, because the exploitation of migrant labour is now a source of revenue.   When the generation of the Arab demographic boom reached working age in the 2000s, connected by the new internet culture, the base toppled the summit in Tunisia and Egypt, and the entire social structure was shaken. People have been surprised by the many demands, social and otherwise, released by the revolution. Arab countries now have to rebuild the constitutional state, where power is finite and subject to institutions, instead of levitating above them. Government-dependent sources of revenue will have to be dismantled, as will monopolies, to release entrepreneurial energy. There will have to be states that guarantee public and social freedoms for all, so that workers have rights, and the states will have to be accountable, based on social consensus. It isn’t going to be easy, because the world, including Europe, isn’t going that way.



Samir Aita is editor of the Arabic editions of Le Monde diplomatique and the author of Les travailleurs arabes hors-la-loi, L’Harmattan, Paris, 2011



(1) See Samir Radwan and Manuel Riesco, “The Changing Role of the State”, Economic Research Forum, 2007.

(2) Read Salam Kawakibi and Bassma Kodmani, “To shoot, or not to shoot?”, Le Monde diplomatique, English edition, March 2011.


Article 3.

Guardian

Obama doctrine? If only

Michael Boyle



2 April 2011 - In his speech on Monday night, President Obama articulated his rationale for the ongoing military campaign in Libya, claiming that a failure to act would have permitted humanitarian catastrophe that would have ""would have reverberated across the region and stained the conscience of the world"". His argument was essentially one of moral emergency, implying that anyone chastened by the failure of the US and European governments to act in Rwanda and similar cases should recognise the necessity of acting in Libya.

But as recent events have demonstrated, a compelling moral case does not equate to a coherent strategy. Indeed, it is charitable to call this strategy muddled. Initially committed to only to defensive operations to stop the advance of the Libyan military into cities like Benghazi, the Obama administration quickly began working with the rebels to coordinate air strikes to push back Gaddafi's forces. This turned the US, Britain and France into combatants in a civil war; no matter how much they claim only to be engaged in ""kinetic military action"" or some other Orwellian euphemism, the facts are plain. There are now CIA officers present in Libya to coordinate air strikes with rebels, and the US has flown over 1,600 sorties. While the American public may be fooled by the dissembling language, Gaddafi and his regime will have no illusions about who is bombing them.

Now, if only to underscore this point that this is a real war, the US and its allies are considering sending weapons to the Libyan rebels. Even contemplating this reflects an astonishing level of ignorance: the weapons will embolden the rebels and increase the chances of a bloody, long-running stalemate between the Gaddafi regime and the rebels. The coalition effort has gone from babysitting a civil war to sponsoring it, ignoring precedents such as Afghanistan that make clear that flooding a country with weapons leads only to higher death tolls and vicious blowback over the long run.

All of this could be forgivable if the Obama administration or its European partners had shown an iota of forethought about the potential consequences of their actions. Instead, they appear to have rushed into this operation without a workable Plan B. Their hope was that air strikes and the pressure of rebel advances would cause the regime to crumble. But Gaddafi's forces – still vastly more powerful than the rebels – have reversed their losses and a stalemate looks more likely. Further, even high-profile defections have not yet appeared to influence Gaddafi's (admittedly less than rational) thinking. Unless he is killed or otherwise overthrown, Gaddafi can continue to hold out, supported by a small number of loyalists and family members, in the hope that he can prolong the war to the point where the costs begin to exceed the potential benefits for US and its coalition partners. Given that he faces exile, indictment or death if he is overthrown, he has every incentive to do just that.

If that happens, the only option left would be to place US or allied ground troops to assist rebels in forcing Gaddafi out of power. But Secretary Gates has emphasised repeatedly that there will be no ""boots on the ground"". Having taken escalation through ground forces off the table, what then is the next step? How will additional pressure on Gaddafi be generated?

More to the point, what exactly is the strategy if the cumulative effect of the action so far is to produce the siege of Tripoli?

Instead of confronting these questions in a hardheaded way, the Obama administration has been obsessed with demonstrating the international legitimacy of the operation, pointing to a UN mandate and the support of the Arab League. But diplomatic blessings do not change the facts of war. Even the transfer of command authority from the US to Nato is mere window-dressing; it is the same set of countries bombing Libyan forces, no matter what acronym they hide behind. It is a peculiar form of bureaucratic myopia to worry more about who sits in what chair in Brussels than about the consequences of poor strategy.

Even more depressingly, the political debate in the US over the Libyan operation has become grotesque, as the same players who served as cheerleaders for the Iraq war have come out in force to celebrate this war as a step forward for human rights. The same liberal internationalists who chided President Bush for seeking regime change in Iraq have applauded President Obama for taking similar action in Libya, despite the fact that the operations in Libya are well beyond the measures to protect civilians authorised in the UN security council resolution.

Similarly, the neoconservatives have seen this operation as a vindication of President Bush's strategy, and a reaffirmation of the right of the US to remove the leader of a foreign country if it suits out interests to do so. Neither party is behaving responsibly here. The Republican presidential candidates are stumbling over themselves finding ways to denounce President Obama for doing precisely what they would have done if put in his position. Meanwhile, few on the Democratic side appear to be willing to push the president to explain his nonsensical position that Gaddafi must go, but that the objective of the US is not regime change.

Perhaps the most dispiriting aspect of this operation is that it proves that President Obama has been seduced by the power of the Oval Office into betraying many of the promises he represented as a candidate. The same thoughtful man who once argued that the US should never go to war without a congressional authorisation did not seek one, and waited ten days before even addressing the American public about his rationale for the operation. The same president who pledged in his national security strategy to take into account the limitation of our economic resources in his foreign policy decisions has led us into a war costing hundreds of millions of dollars. The same president once critical of a rush into a ""dumb war"" has let a compelling moral cause turn the US into a party in another war in the Middle East.

The unfortunate result is that President Obama has begun to resemble his predecessor far more than he or his supporters would care to admit.



Michael Boyle is assistant professor of political science at La Salle University, Philadelphia.






Article 4.

The Economist

American foreign policy - Why it's a theory, not a doctrine



31 march -- IT IS Pavlovian. As soon as a president does something new in foreign policy, the world wants to know whether he has invented a new “doctrine”. The short answer in the case of Libya is that Barack Obama has not invented a new doctrine so much as repudiated an old one. What he is also doing, however, is challenging an American habit of mind.

The doctrine Mr Obama has repudiated is the one attributed to Colin Powell, the former chairman of the joint chiefs of staff and George W. Bush’s transparently miserable secretary of state when America invaded Iraq in 2003. That held, among other things, that America ought to go to war only when its vital interests are threatened, when the exit strategy is clear, and when it can apply overwhelming force to ensure that its aims are achieved. Nothing could be more different from the account Mr Obama gave Americans on March 28th of his reasons for using military force in Libya. He does not believe that America’s vital interests are at stake (though some “important” ones are); the exit strategy is not entirely clear (Colonel Qaddafi must go, but who knows when, and not as a direct result of American military action); and the force America is willing to apply (no boots on the ground) is strictly limited.

None of this should be a surprise. In “The Audacity of Hope”, the bestseller Mr Obama wrote as a senator in 2006, he set out a theory of military intervention. Like all sovereign nations, he argued, America has the unilateral right to defend itself from attack, and to take unilateral military action to eliminate an imminent threat. But beyond matters of clear self-defence, it would “almost always” be in its interest to use force multilaterally. This would not mean giving the UN Security Council a veto over its actions, or rounding up Britain and Togo and doing as it pleased. It would mean following the example of the first President Bush in the first Gulf war—“engaging in the hard diplomatic work of obtaining most of the world’s support for our actions”. The virtue of such an approach was that America had much to gain in a world that lived by rules. By upholding such rules itself, it could encourage others to do so too. A multilateral approach would also lighten America’s burden at times of war. This might be “a bit of an illusion”, given the modest power of most American allies. But in many future conflicts the military operation was likely to cost less than the aftermath: training police, switching the lights back on, building democracy and so forth.

The president, it now emerges, remembers exactly what he wrote. He hesitated about whether to act in Libya (just ask the French and British, who egged him on but came close to losing hope), but he was always clear about how. All the conditions he wished for in that book five years ago have come to pass. In this week’s speech he ticked them methodically off: “an international mandate for action, a broad coalition prepared to join us, the support of Arab countries, and a plea for help from the Libyan people themselves. We also had the ability to stop Qaddafi’s forces in their tracks without putting American troops on the ground.” Under such circumstances, he said, for America to turn a blind eye to the fate of Benghazi would have been “a betrayal of who we are”.

Why does this theory of intervention, and the noble sentiment attached to it, fail to qualify as a “doctrine”? Because it is too elastic to provide a guide to future action. Would America “betray” itself by turning a blind eye to atrocities under different, less favourable, circumstances? So it seems. It has, after all, done so before, in Rwanda and Darfur—and Mr Obama appears to accept that it might have to do so again when, say, an alliance would be damaged, as in Bahrain, or the job is too hot to handle, as in Syria or Iran. Also unclear is whether an American interest must also be at stake before Mr Obama invokes the moral case for action. Conveniently (for the purpose of selling this particular war), the president detects a “strategic interest” in preventing Colonel Qaddafi from chilling the wider Arab spring, so nobody knows. 

In fairness, elasticity is not a sin; and Mr Obama does not claim to have invented anything he calls a “doctrine”. The worst you can say about his approach is that it is merely commonsensical: decide the issues case-by-case while holding some idea of values and interests in mind. Many who say they want more consistency than this (typically by asking some variant of “What about Zimbabwe?”) do so not because they really believe that foreign policy can be run by an algorithm but in order to embarrass Mr Obama in any way they can. Prize chump in the case of Libya this past fortnight has been Newt Gingrich, the Republican presidential hopeful who demanded consistency, called for intervention and turned on a dime the instant Mr Obama answered.

After you, Sarko

More significant, however, is that habit of mind. In Libya Mr Obama is challenging the assumption of global leadership America has taken for granted ever since the second world war. America has joined coalitions before, but never under a president quite so adamant that America is not in charge—even if the military burden-sharing is indeed a bit of an illusion. 

Most Republicans and quite a few Democrats hate this. Mr Obama’s hope is that America’s low profile will make the war more palatable not only to the Muslim world but also to the economy-fixated voters at home who question whether America can still afford to play its traditional leadership role. What he may soon discover is that modesty extracts a price of its own. By sharing the leadership with others, he has made his policy hostage to the limited mandate (no use of force for regime change) imposed by the United Nations and the limited means of his allies in Europe and the Middle East. It may not be a doctrine, it should not be a surprise, but nobody can deny that it is a gamble. 






 


Article 5.

The Atlantic

Struggling to Restart Egypt's Stalled Revolution

Eric Trager



CAIRO, Egypt -- Egypt's popular revolt was on the ropes. Tahrir Square had been mostly empty for weeks. Top regime figures remained free men. And on Wednesday, the Supreme Military Council released a revised constitution that, among other things, retained a Mubarak-era provision mandating that 50 percent of the parliament consist of workers and farmers. 
""They are enabling the traditional forces to enter into and win the elections,"" said Shadi al-Ghazali Harb, an executive member of the Coalition of Revolutionary Youth, on Thursday evening.
Meanwhile, the youth organizations that had catalyzed the early stages of the revolt remained deeply divided on whether to keep protesting and, more importantly, on how to guide Egypt's political future.
On Friday, Egypt's youth activists overcame their impasse by agreeing on the past. Echoing scenes of two months prior, tens of thousands of Egyptians packed Tahrir Square to demand that former President Hosni Mubarak and his deputies be put on trial, and that the public funds they stole from the Egyptian people be returned. Posters carried images of former officials behind bars and activists chanted for the capture of former Shura Council president Safwat Sherif, former parliamentary speaker Fathi Sorour, and former chief of presidential staff Zakaria Azmi. The military had held control of the country for seven weeks but, for the Tahrir faithful, the villains remained the same.

""But we need to be patient and we don't have time.""

""We still have ministers whose money has not been investigated,"" said Maged Abduh, a businessman. ""Zakaria Azmi is still working, as is Fathi Sarour. Why didn't they bring them and ask them about their money?""
Yet for many in Tahrir, the turnout was cause for hope. The demonstration's organizers had overcome many hurdles in the previous days -- in particular, a series of suspiciously widely distributed, anonymous messages falsely claiming that the demonstration had been postponed until next week. And although it fell well short of the ""million-man march"" that the organizers had promised, the return of flag-carrying crowds signaled to the military that the shaab -- the ""people"" -- remained invested in their revolution.
""It was good to send the message that we can have more protests, because people think and feel that the process is too slow,"" said Abdullah Helmi, a member of the Union of Revolutionary Youth. 
The demonstration took place without the participation of the Muslim Brotherhood, which stood aside despite the pleas of its younger members. The Brotherhood's Guidance Office claimed that they had not been informed of the demonstration early enough to make a decision. They told their youth leaders that they feared a low turnout. 
""They have their own way of dealing with the issue,"" said Muslim Brotherhood youth leader Islam Lotfi, sounding disappointed.
But Friday's demonstration still leaves Egypt's could-be revolution searching for a way forward. While liberals and leftists dominated the square -- at one point, the crowds jeered at a Salafist who took the stage -- the overwhelming majority seemed to be independents, with a handful of small, newly forming parties scattered about. They have no leader or even set of leaders who can channel their demands for a better future into a widely agreeable program, and nobody can credibly represent them before the military council. So for now, the masses can only unify against things.
""The liberals have many small parties, and the left as well,"" said former liberal Wafd party chairman Mahmoud Abaza. ""I think the hope of having a constitution that the Egyptian people will create and the fear of being squeezed between the army and the Islamists will create some opportunities for this front. But we need to be patient and we don't have time.""
Still, Egypt's opposition groups may soon run out of things to oppose. In anticipation of Friday's demonstrations, the military announced the day before that Mubarak's top aides had been banned from leaving the country. If the military fully relents and opens investigations into their activities and finances, it may be hard for youth and liberal activists to convince people to return in droves to Tahrir Square. After all, the remaining demands from the revolution will have been met.
For the protesters still taking to Tahrir Square, and for those wary that the military could ultimately retain its grip on power, ""saving"" Egypt's revolution will require a liberal program for moving the country forward -- and fast. The longer that Egypt's revolutionary groups can only rally around rejecting the already-rejected Mubarak regime, the greater the advantage of illiberal forces in shaping the country's future.













Article 6.

The Washington Institute

Qatar's Quest to Become the Leading Arab State

Simon Henderson


March 31, 2011 -- The small Persian Gulf state of Qatar is emerging as a significant international player in the Libyan crisis and a crucial supporter of U.S. policy. But its relationship with the United States has often been difficult, and its standing in the rest of the Arab world is questionable. For Washington, the challenge is to achieve balance between U.S. expectations, Qatar's own regional ambitions, and the need to minimize any adverse impact on U.S. ties with other Arab allies. 

Background 

The Qatari peninsula is about the size of Connecticut, but most of its population -- around 200,000 citizens and 600,000 expatriate workers -- lives in and around the capital, Doha. A member of the Organization of the Petroleum Exporting Countries (OPEC), the emirate produces relatively little oil. Instead, its growing wealth is the result of having the third-largest natural gas reserves in the world (after Russia and Iran). Qatar is now the world's top exporter of liquefied natural gas, with Asia particularly reliant on its supplies. Revenue from these sales has given Qataris the highest per capita gross domestic product ($88,000) in the world, almost twice the figure for Americans. 

In recent days, Qatar became the first Arab state to contribute to no-fly-zone patrols over Libya and recognize the Benghazi-based rebels as legitimate successors to the Qadhafi regime. It has also offered its status and experience in OPEC to help the rebels market the Libyan oil and gas production that they control. In addition, the emirate was a major participant in the March 29 London conference regarding the crisis, and the first meeting of the follow-on Libya Contact Group will soon be held under Qatari chairmanship in Doha. 

Qatar's leading representative at the London meeting and the driving force of its foreign policy is Sheikh Hamad bin Jassim al-Thani, who serves as both prime minister and foreign minister. HBJ, as he is widely known, is only a distant relative of ruler Sheikh Hamad bin Khalifa al-Thani, but the two leaders have an extraordinarily close working relationship, and HBJ is credited with making many of the emir's visions a reality. 

Meanwhile, Qatar's Aljazeera satellite television channel is among the most watched in the region; the emir's (second) wife, Sheikha Mouza, is the driving force in encouraging American universities to set up branches in Doha and develop a world-class ""medical city""; and Qatar has been chosen as the venue for the 2022 World Cup. The emirate is also becoming an increasingly large business conglomerate, with a national airline fleet that will soon exceed 100 aircraft, and a sovereign wealth fund t hat purchased Harrods, the iconic London store, in 2010, and owns the largest share of stock in a British supermarket chain. 

Activist Foreign Policy 

If Qatar's foreign policy appears eclectic in substance, its style often seems inconsistent -- and challenging even to its friends. Over the past several years, Qatar has tried to distinguish itself from the other members of the Gulf Cooperation Council (Saudi Arabia, Kuwait, Bahrain, the United Arab Emirates, and Oman) by being friendlier toward Iran and less publicly fearful of the Islamic Republic's nuclear ambitions. To the consternation of other GCC leaders, Qatar invited President Mahmoud Ahmadinezhad to Doha for the council's 2007 summit. Privately though, Qatar is cynical about Iran's aspirations. As HBJ once told an American official, ""[The Iranians] lie to us, and we lie to them."" 

More generally, Qatar tends to use Aljazeera as a tool of diplomacy. The network's coverage of domestic Qatari affairs is limited -- instead, Aljazeera news programming often seems aimed at annoying other Arab states. The United States was also a regular target of the network after the invasion of Iraq. For example, one false story broadcast in 2005 alleged that U.S. soldiers in Iraq were removing women's veils. The report caused widespread outrage in the Arab world and, according to then deputy defense secretary Paul Wolfowitz, was responsible for the killing of more than 100 American personnel. Qatari officials protested their innocence, claiming that Aljazeera was independent of government control and was permitted freedom of expression. Yet the output of the Arabic news channel and associated website suggests that they omit stories that might damage important diplomatic relationships (although the English channel and website are less constrained and more objective). 

Qatar has also sheltered or otherwise affiliated itself with prominent regional radicals. In addition to hosting Hamas leader Khaled Mashal, the emirate has permitted firebrand Egyptian cleric Sheikh Yusuf al-Qaradawi to broadcast a regular show on Aljazeera for years now, despite episodes justifying suicide attacks on Israeli children on the basis that they will grow up to become soldiers. And in the mid-1990s, Qatar allowed al-Qaeda terrorist Khaled Sheikh Muhammad, wanted by the United States for plotting aircraft bombings, to live in Doha, where he was given a government job and protected by a state minister. 

Outreach to Israel and the U.S. Military 

After Sheikh Hamad overthrew his indolent father in 1995, Doha worked to develop better ties with Washington, which at the time tended to view its relations with Arab Gulf states through the prism of neighboring Saudi Arabia. Among Qatar's tactics was deliberate outreach to Israel as a means of countering potential U.S. congressional opposition. At one point, this led to an Israeli diplomatic office operating under commercial cover in Doha. Yet when presented with a reciprocal offer to open a Qatari office in Israel, the emirate ignored it, while the Israeli presence in Doha met with criticism from other Arab states and was eventually closed. 

On a grander scale, Qatar speculatively built the giant al-Udeid Air Base a few miles outside Doha. Following the September 11 attacks, U.S.-Saudi relations grew tense, and Riyadh asked Washington to stop using the Prince Sultan Air Base and its associated Combined Air Operations Center. Qatar was thus able to step in and offer the United States instant access to al-Udeid. Today, the U.S. military runs most of its regional operations out of the base, including patrols to counter any hostile moves by Iran a hundred miles to the north and flights over Afghanistan six hundred miles to the east. Yet U.S. forces do not have carte blanche over al-Udeid: the Qatari military jealously guards its sovereign control over access to the facility even though its own small air force does not use it, instead operating from one side of the capital's main international airport. 

Largely Symbolic Role in Libya 

Qatar is taking great pride in its role in stemming the Libyan crisis. As the Qatari air force chief of staff put it: ""Certain countries like Saudi Arabia and Egypt haven't taken leadership for the last three years. So we wanted to step up and express ourselves, and see if others will follow."" 

In actuality, however, the Qatari military is greatly limited in both size and capability. The four Mirage 2000 jets that Doha deployed to Greece for Libyan operations represent the bulk of its operational air force. And two of those aircraft nearly failed to arrive, having to divert to Cyprus after running short of fuel en route. Reliant on servicing by French and other foreign technicians, the aircraft are not expected to see any real military action. 

U.S. Policy and the Emir's Upcoming Visit 

Qatari society does not recognize the universal freedoms that guide the Obama administration's foreign policy, but there is little domestic opposition to the emir's rule, which is marked by generous subsidies and traditional Gulf accessibility. Nevertheless, the administration should make the most of Sheikh Hamad's upcoming visit to Washington, originally scheduled for February but now seemingly slated for April. Doha will want to use the visit to confirm its new diplomatic status. Yet Washington must balance its gratitude for ongoing access to al-Udeid and the emirate's diplomatic support on Libya with the recognition that Qatar still has to prove itself as a reliable and consistent ally. Ultimately, Doha seeks guarantees of U.S. protection against Iran, which should be a win-win situation for Washington. But Doha is worried about the commitment of the Obama administration to deal with Qadhafi as well as Iran. Other U.S. Middle East allies will be watching closely to see how Washington handles its new best friend. 



Simon Henderson is the Baker fellow and director of the Gulf and Energy Policy Program at The Washington Institute.





























26













"
IMAGES-004-HOUSE_OVERSIGHT_018257.txt,"between human choice and machine intelligence? Why is one computer system
better than another? These decisions - and the people who make them - will
determine power distributions. They will reverberate through our future with the
same constant noise as the Bill of Rights, the Magna Carta, the Analects or the Koran
still do. The real contests ahead will be over networks, and we will come to
understand in this book how these struggles will unfold and how to fight them - but
keep in mind that this means, in fact, a deeper conflict. A fight about values.
Networks are like any organized system; they reflect the aims and ethics and habits
of the people who build them. The price of meshing so many different aims and
sensibilities, hopes and hatreds, will be costly. When Nan said that really, fully
grasping our world would be expensive this is what he meant. Particularly if he’s
right that we'll all be going half mad under the pressures of constant connection as
we try to make the shift. We will pay with our old ideas, our current fortunes and - if
we're not careful - our safety.

Engineers know this idea that network design shapes the real world as “Conway’s
Law.”21 Melvin Conway was an early AT&T systems designer who noticed that the
organization of any connected telephone system had an impact on the communities
or offices it touched. Who could call who was a kind of power map. The physical
world, Conway realized, could be shaped and influenced by something other than a
physical force; it could be reshaped by information flows, by connection. The
expansion of airline routes to Indonesia, for instance, was a network design change
that tilted real-life economic patterns. New flights enabled tourism, manufacturing,
investment. In our connected age, the design of research studies, voter databases,
genetic information sharing networks, financial webs - all of these will create
bumps in the surface of our every day lives.2? The way in which phones or data links
or mobile devices are tied together changes the way we act when we use them or
when we handle them to touch each other, even if the design of these systems is
insensible to us most of the time - the way a marble under a carpet might create a
surprising bump. Networks can organize themselves in many different ways. And in
the choice of layout, or the evolution of that layout in response to pressures of profit
or technology, a great deal can be decided. “When you decide what infrastructure to
use for a project, you're not just making a technical decision,” the programmer and
investor Paul Graham has written. “You're also making a social decision, and this
may be the more important of the two.”24

You might ask: What drew tens of millions of people to watch live as Steve Jobs
unveiled some new Apple device in the last years of his life? Of course, partly it was
the cool technology, the warmly charming charisma of the man. But something else
was at work, | think. What Jobs was unveiling atop those black-backed stages over

71 Engineers know this idea: Melvin E. Conway, “How Do Committees Invent?”
Datamation, April, 1968.

23 In our connected age: Barbara Schewick, Internet Architecture and Innovation,
(Cambridge, Mass.: MIT Press, 2010) Chapter 1

24 “When you decide what infrastructure to use”: Paul Graham, “Great Hackers”,
on paulgraham.com July 2004

25

HOUSE_OVERSIGHT_018257
"
IMAGES-004-HOUSE_OVERSIGHT_017164.txt,"4.2.12
WC: 191694

they were taking up the place of a man who would actually practice law, while they got married
and raised children.

Dean Griswold wasn’t particularly comfortable with Jews either. At the same dinner, he noticed
that I didn’t eat the meat, and he asked me why. I told him I was kosher, to which he responded:
“Even the Catholics have eliminated the prohibition against eating meat on Friday. Don’t you
think it’s time for your people to eat what everyone else eats.” I thought he was kidding, so I
said: “Ill check with my people.” He wasn’t kidding. The next time I saw him I said: “I’ve
checked with my people and they said that they’ve been keeping kosher for thousands of years, so
a few more centuries couldn’t hurt.” He didn’t laugh. I think this exchange kept me kosher for
an extra few years!

For more than a year, Griswold called me “Shapiro,” which was the name of another assistant
professor, with whom I had nothing in common, except a Jewish sounding name. Griswold
demanded that I teach classes on Saturday. I refused. He said he couldn’t make a special
exception for me because I was a practicing Jew. I still refused. So he abolished all Saturday
classes.

Shortly after I was appointed to the Harvard Law School faculty, I received a call from Judge
Aldrich inviting me to present a talk to the members of his private club, called the “Club of Odd
Volumes.” He assured me that its members included some of the best and most important
lawyers in Boston, including several Justices of the Supreme Court and other judges. “We invite
all the new dons to tell us about their work,” he advised me.

Remembering Judge Bazelon’s refusal to speak to the members of Justice Douglas’ restricted
club, I politely told Judge Aldrich that I would get back to him. I then called the head of the local
Anti-Defamation League and inquired about the Club of Odd Volumes. “They don’t accept Jews,
Catholics, Blacks or women as members,” he quickly responded. I called Judge Aldrich, and told
him that I had a strict policy against speaking at any “restricted” club and so I would respectfully
have to decline his kind invitation. (I adopted that “policy” that day, having never before been
invited to speak at a restricted club.) He thanked me for considering it and hung up the phone.
Within an hour, I was abruptly summoned into the Dean’s Office.

Dean Erwin Griswold informed me that I had offended one of the Law School’s most important
and influential alumni, that I was the only assistant professor ever to turn down an invitation to
speak at that club and that it was important for untenured faculty to present their work there
because several of the members served on the Harvard Board of Overseers that had to approve all
tenure decisions. “You’ve hurt your chances,” he chided me. “Why did you decline their
invitation? Will you reconsider it if I can get them to invite you again?”

I explained my reasons. Griswold, who despite his Midwest origins considered himself an
honorary Brahman, was a cautious advocate of civil rights and civil liberties, so I thought he
would understand. What I did not know was that he himself was a member of a restricted club.
Nevertheless, he paused, looked directly at me and said, “While I don’t agree with you,
considering your background I can understand why you would feel uncomfortable at that club.
Pll call Bailey and try to explain. I hope he understands, and I hope you haven’t hurt your

77

HOUSE_OVERSIGHT_017164
"
IMAGES-007-HOUSE_OVERSIGHT_023079.txt,"Table 10: Tax impact from taxation of accumulated overseas profits at 10%/8.75% rates (assuming
mandatory tax i.e. all overseas profits are taxed)
Cash taximpact ($bn) | One-time tax hit to GAAP earnings

Sector Trump (10%) Blueprint (8.75%) = Trump (10%) Blueprint (8.75%)
Consumer Discretionary 15 65 15 6.5
Consumer Staples 68 59 68 5.9
Energy 3.9 34 3.9 3.4
Health Care 18.7 16.4 18.7 16.4
Industrials 12.7 11.1 12.7 11.1
Information Technology 64.7 56.6 26.0 22.1
Materials 24 2.1 24 2.1
Telecommunication Services 0.1 0.1 0.1 0.1
Utilities 0.2 0.2 0.2 0.2
S&P 500 ex. Financials & Real Estate 117.0 102.4 78.3 68.5
S&P 500 GAAP EPS impact ($9) ($8)

Source: FactSet, Blaomberg, BofAML Global Research estimates, BofA Merrill Lynch US Equity & US Quant Strategy

We estimate share buybacks add $4 (or as high as $6) to EPS (GAAP & non-GAAP)
If the full $1.2tn that we estimate for overseas cash for the S&P 500 ex. Financials &
Real Estate is brought back (given the tax is mandatory and will be paid either way) and
50% is used on buybacks (~3% of S&P 500 market cap), this could add ~$4 to S&P 500
EPS. And if 80% (~4% of market cap) were used on buybacks, similar to NBER’s
estimate of what occurred following the 2004 tax holiday, this could add $6 to EPS.
(The difference between the Trump and Blueprint tax rates is small, leading to only
cents in index EPS.) If one assumed companies only brought half of their offshore cash
home immediately, even though the full amount was taxed, these benefits would be cut
in half.

Note that buyback programs may span several years, which could spread out some of
the EPS benefit below. But if one assumes a buyback is fully executed in Year 1, this
provides a one-time boost to EPS growth and a recurring benefit to future EPS given a
permanently lower share count.

Table 11: Impact to S&P 500 EPS based on various buyback scenarios

% used for buybacks: 10% 20% 30% 40%) 50%) 60% 70% 80% 90% 100%
Trump (10% tax) 1% 1% 2% 2% 3% 3% 4% 4% 5% 6%
Blueprint (8.75% tax) 1% 1% 2% 2% 3% 3% 4% 5% 5% 6%
Benefit to 2017 EPS: $1 $1 $2 $3 $4 $4 $5 $67 $7
Benefit to 2018 EPS: $1 $1 $2 $3 $4 $5 = $5 $67 $8

Assumes 100% of overseas cash is brought back (given tax is mandatary)
Source: FactSet, Bloomberg, BofA Merrill Lynch Global Research estimates, BofA Merrill Lynch US Equity & US Quant Strategy

Below we calculate the potential impact to sectors’ EPS under various buyback
scenarios. Differences are small under the Trump vs. Blueprint tax rates.

Table 12: Impact to sector EPS from various buyback scenarios under Table 13: Impact to sector EPS from various buyback scenarios under
Trump (10% tax rate) Blueprint (8.75% tax rate)
% used for buybacks: % used for buybacks:

10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Cons. Disc. 0% 1% 1% 1% 1% 2% 2% 2% 3% 3% Cons. Disc. 0% 1% % 1% 1% 2% 2% 2% 3% 3%
Staples 0% 1% 1% 1% 2% 2% 2% 3% 3% 3% Staples 0% 1% % 1% 2% 22% 2% 3% 3% 3%
Energy 0% 0% 1% 1% 1% 1% 2% 2% 2% 2% Energy 0% 0% % 1% 1% 1% 2% 2% 2% 3%
Health Care 1% 1% 2% 3% 3% 4% 5% 5% 6% 1% Health Care 1% 1% 2% 3% 3% 4% 5% 5% 6% 7%
Industrials 1% 1% 2% 2% 3% 4% 4% 5% 5% 6% Industrials 1% 1% 2% 2% 3% 4% 4% 5% 5% 6%
Tech 1% 3% 4% 6% 7% 9% 11% 13% 14% 16% Tech 1% 3% 4% 6% 8% 9% 11% 13% 15% 16%
Materials 0% 1% 1% 2% 2% 2% 3% 3% 4% 4% Materials 0% 1% % 2% 2% 22% 3% 3% 4% 4%
Telecom 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Telecom 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Utilities 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Utilities 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Assumes 100% of overseas cash is brought back (given tax is mandatory) Assumes 100% of overseas cash is brought back (given tax is mandatory)
Source: FactSet, Bloomberg, BofA Merrill Lynch Global Research estimates, BofA Merrill Lynch US Source: FactSet, Bloomberg, BofA Merrill Lynch Global Research estimates, BofA Merrill Lynch US
Equity & US Quant Strategy Equity & US Quant Strategy
me peorlgalinll Equity Strategy Focus Point | 29 January 2017 —-‘11

HOUSE_OVERSIGHT_023079
"
IMAGES-003-HOUSE_OVERSIGHT_015575.txt,"Edwards adv. Epstein
Telephone interview with Virginia Roberts
Page 20 of 23

next thing I knew, I was sent my victim’s letter, my notification of being a victim through
the US Attorney’s Office and that’s when I knew it was well out there enough not to have
Jeffrey’s lawyers come back on me and discredit me in the same way he had done to all
the other girls. So, I called up Joseph Bird who was the recommended lawyers on my
paperwork that they had given me and started going from there.

JS: So you contact Mr. Joseph Bergs’ office and then you were dealing with his office from
that point forward.

V: That’s correct.

JS: Tell me about the ending of your relationship with Jeffrey. That is, at what point in time
did your full time employment end and how did that happen?

V: Ok. So, it hadn’t really ended. I walked away from it all. Jeffrey sent me to Thailand
where I met my husband and escaped to Australia, never to return back to the states.
About 6-months prior to that, he came up with a proposition that I thought was really
disgustingly sick. And it really showed me for the first time in 4 years I had been with
him that nothing was going to change and I was always just going to be used by him(?)
which I did not like. He offered me a mansion and some of his money every month, I
forget what he called it, a monthly income of what he made to bear one of his children.
The proposition was that if anything ever happened between Jeffrey and I, that I would
have to sign my child over to him basically and that the child would be his and
Ghislaine’s, and I would be looking after it as long as nothing happened between Jeffrey
and I. So, I was kind of freaked out by all of that. I pushed Jeffrey more to please get me
some more training, you know, and I was getting older and not of as much interest to
Jeffrey anyways. I was 19 now, and he likes a female a lot younger. So he sent me to
Thailand, in September 2002_. I was first supposed to meet a girl there and bring her
back with me, but I never met up with her. I proceeded get a short course in Thai massage
so that was to shut me up about my training so I went there, and one of my friends from
school invited me to watch a fight, like a muay thai fight, which is like a form
kickboxing. So I went and watched it, and I saw this guy that was a really good fighter,
and a girl’s word, looked really hot, so I asked my friend who knew him to introduce me.
We got introduced and fell in love immediately, 3 days later Rob proposed and 7 days
later I was being married in a buddist temple. I called Jeffrey and told him I’m sorry, I’m
never coming back. I’ve gotten married, I’ve fallen in love. I thought he’d wish the best
for me but he was kind of rude and he just said “have a good life” and hung up the phone,
and that was the last time I'd talked to him ever until all this started again.

JS: Ok. Virginia, is there anything else that you would like to add to what you have told us
up to this point in time?

V: I'd like to know that this time around something’s going to be done about it and that
Jeffrey and a lot of his colleagues, no matter how rich they are, will know that there is

HOUSE_OVERSIGHT_015575
"
IMAGES-002-HOUSE_OVERSIGHT_012653.txt,"TAB 34

HOUSE_OVERSIGHT_012653
"
IMAGES-005-HOUSE_OVERSIGHT_020381.txt,"ane

10.

11.

12.

LB.

14.

15.

16.

17.

18.

“Six government employees...” Matt Apuzzo, “C.I.A. Officer Is Found Guilty in
Leak Tied to Times Reporter,” New York Times, January 26, 2015. The notable
exception to policy of seeking imprisonment of intelligence workers found guilty of
passing classified information to journalist is the extraordinary case of ex-CIA director
General David Petraeus. General 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 A// In: The Education of Davis
Petraeus, he had violated his oath to protect this information. Yet, in a 2014 deal with
the Justice Department, General 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 http://www.bloombergview.com/articles/2015-03-04/petraeus-justice-
and-washington-s-culture-of-leaks

>

In an interview in Moscow...”—Snowden met with James Bamford, the author of the
1982 book The Puzzle Palace. In Moscow in June 2014. James Bamford. “Edward
Snowden: The Untold Story,” Wired, August 2014. (Hereinafter Bamford Wired.)

“We’ve crossed lines.” --- Snowden quoted by Bamford, Wired

“Congressman Ron Paul organized...”—Rebecca Shabad, “Former Rep. Ron Paul
launches petition for Snowden clemency,” The Hill, February 13, 2014. “Rand Paul”
support, see Katie Gluck, “Rand Paul Backs Snowden,” Politico, January 5, 2014
“We actually buy cell phones...” Snowden quoted in “New Guardian Interview with
Edward Snowden,” Guardian, July 17, 2014.
http://www.activistpost.com/2014/07/new-guardian-interview-with-edward.html
“Dominique Strauss-Kahn....”—Edward Jay Epstein, “What Really Happed To Strauss-
Kahn” New York Review of Books, December 22, 2011

“Consumer Financial Protection Bureau...”—Newt Gingrich, “A Government Snoop That
Puts the NSA to Shame,” Wall Street Journal, July 7, 2015

“The FISA court...” The history of the FISA court is a matter of public record.

http://www.fjc.gov/history/home.nsf/page/courts_special_fisc.html

‘Let’s collect the whole haystack,”-- Ellen Nakashima and Joby Warrick, “For NSA
chief, Terrorist Threat Drives Passion to ‘collect it all,” Washington Post, July 14,
2013

“Second U.S. Circuit Court of Appeals...”—Charlie Savage and Jonathan Weisman.
“NSA Collection of Bulk Data Ruled Illegal.” New York Times, May 5, 2015. This
court decision was stayed three months later on August 27, 2015 by a 3-judge panel of

HOUSE_OVERSIGHT_020381
"
IMAGES-002-HOUSE_OVERSIGHT_014222.txt,"ee
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HOUSE_OVERSIGHT_014222
"
IMAGES-005-HOUSE_OVERSIGHT_019500.txt,"L2 | HOW AMERICA LOST ITS SECRETS

tery I was going to solve on this first trip to Hong Kong. I needed to
know more about his activities before he got there. After all, Snowden
was not, as he himself pointed out from Moscow, an “angel descend-
ing from the heavens.” He had been working for the U.S. govern-
ment for the previous seven years. During that period, he had been
part of America’s secret intelligence regime and held a clearance for
sensitive compartmented information, or SCI. Such SCI material is
considered so sensitive that it must be handled within formal access
control systems established by the director of national intelligence.
Nor did Snowden’s breach begin with his handing over classified
documents to the Guardian reporters in Hong Kong in June 2013 or,
for that matter, in the eleven days prior to his meeting with journal-
ists. He had, as the NSA quickly determined, begun illicitly copying
documents in the summer of 2012. Such a dangerous enterprise is
not born of a sudden impulse. It was, as his actions suggested, nur-
tured over many months. Even if he had managed to elude American
intelligence from late May to early June 2013, he could not hide all
the history that led to his decision to come to Hong Kong. There
® had to be an envelope of circumstances surrounding it, including ©
Snowden’s motivation, associates, movements, finances, and activi-
ties prior to his fleeing to Hong Kong. What was missing was not
just Snowden’s first eleven days in Hong Kong but the context of
the alleged crime.
I first needed to find out who Edward Snowden was.

| | Epst_9780451494566_2p_all_r1.z.indd 12 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019500
"
IMAGES-003-HOUSE_OVERSIGHT_014643.txt,"US - Multi-Industrials/Engineering and Construction Coverage Cluster
BofA Merrill Lynch

Investment rating Company ticker Bloomberg symbol Analyst
BUY
3M Company MMM MMM US Andrew Obin
AECOM ACM ACM US Anna Kaminskaya, CFA
Allegion ALLE ALLE US Andrew Obin
AMETEK Inc AME AME US Andrew Obin
Colfax Corporation CFX CFX US Andrew Obin
Dover Corp DOV DOV US Andrew Obin
Fortive Corporation FIV FTV US Andrew Obin
General Electric Company GE GEUS Andrew Obin
HD Supply Holdings Inc HDS HDS US Andrew Obin
Honeywell International Inc. HON HON US Andrew Obin
Ingersoll-Rand IR IRUS Andrew Obin
KBR KBR KBR US Anna Kaminskaya, CFA
Milacron MCRN MCRN US Andrew Obin
Mistras Group MG MG US Andrew Obin
Rush RUSHA RUSHA US Andrew Obin
NEUTRAL
Eaton Corp PLC ETN ETN US Andrew Obin
Flowserve FLS FLS US Andrew Obin
ITT Inc. IT ITTUS Andrew Obin
Jacobs Eng. JEC JEC US Anna Kaminskaya, CFA
Parker Hannifin Corporation PH PH US Andrew Obin
UNDERPERFORM
Chicago Bridge & Iron Company CBI CBI US Anna Kaminskaya, CFA
Donaldson Co DC| DCI US Andrew Obin
Emerson Electric Co EMR EMR US Andrew Obin
Fluor Corp FLR FLR US Anna Kaminskaya, CFA
Pentair plc PNR PNR US Andrew Obin
Rexnord Corporation RXN RXN US Andrew Obin
Rockwell ROK ROK US Andrew Obin
SPX Flow Inc. FLOW FLOW US Andrew Obin

US - Semiconductors Coverage Cluster
BofA Merrill Lynch

Investment rating Company ticker Bloomberg symbol Analyst
BUY
Advanced Micro Devices, Inc AMD AMD US Vivek Arya
Analog Devices Inc. ADI ADI US Vivek Arya
Broadcom Limited AVGO AVGO US Vivek Arya
Cypress CY CY US Vivek Arya
Inphi Corporation IPHI IPHI US Vivek Arya
Integrated Device Technology, Inc. IDTI IDTI US Vivek Arya
Intel INTC INTC US Vivek Arya
Microchip MCHP MCHP US Vivek Arya
NVIDIA Corporation NVDA NVDA US Vivek Arya
ON Semiconductor ON ON US Vivek Arya
Skyworks Solutions, Inc. SWKS SWKS US Vivek Arya
Texas Instruments Inc. TXN TXN US Vivek Arya
NEUTRAL
Cavium CAVM CAVM US Vivek Arya
M/A-Com MTSI MTSI US Vivek Arya
Maxim Integrated Products Inc. MXIM MXIM US Vivek Arya
UNDERPERFORM
Marvell Technology Group Ltd. MRVL MRVL US Vivek Arya
Qorvo Inc. QRVO QRVO US Vivek Arya
Xilinx Inc. XLNX XLNX US Vivek Arya
22 Top 10 US Ideas Quarterly | 03 January 2017 Bankof America <>

Merrill Lynch

HOUSE_OVERSIGHT_014643
"
IMAGES-011-HOUSE_OVERSIGHT_031285.txt,"WHAM INC THE PUBLIC COMPANY OWNS THE BELOW OPERATIONS

TOWERSINVESTORS.COM
CEO

SEE

WWW.POST PUBLISHING.BUZZ THE JESUS CHRIST ON LINE GODs WORD NEWSPAPER
MR HOFFENBERG ONLINE NEWSPAPER
PUBLICSPEAKINGWALLSTREET.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@qmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_031285
"
IMAGES-012-HOUSE_OVERSIGHT_032534.txt,"From: Jonathan Farkas

Sent: 5/8/2017 3:30:17 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
We have not had sex
Sent from my iPhone

On May 8, 2017, at 11:27 AM, jeffrey E. <jeevacation@gmail.com> wrote:

worse

On Mon, May 8, 2017 at 11:26 AM, RE wrote:

a 2 timer?

In a message dated 5/8/2017 11:19:08 A.M. Eastern Daylight Time, jeevacation@gmail.com writes:
careful she is nottrustworthy at ALLL

On Mon, May 8, 2017 at 10:43 AM, Jonathan Farkas a wrote:
lam seeing ia little bit | don't think it will turn into romance Tam a bit old and not tall enough but she seems

intelligent and kind Somers got an appointment from Trump she is on The White House Fellowship Commison it came
through Woody and Suzanne Johnson because she bundled best Jonathan

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

HOUSE_OVERSIGHT_032534
"
IMAGES-007-HOUSE_OVERSIGHT_023051.txt,"Date: Wednesday, April 17 2019 11:43 AM
Subject: Fwd: FW: Ghislaine Maxwell
From: J <jeevacation@gmail.com>

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

From: Jeffrey Epstein <jeevacation@gmail.com >
Date: Fri, Mar 4, 2011 at 12:17 PM

Subject: Fwd: FW: Ghislaine Maxwell

To: Alan M. Dershowitz {i i i >

---------- 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 ee
Date: Fri, 4 Mar 2011 11:14:35 -0500

To: NY Max <gmax1@ellmax.com >

Subject: FW: Ghislaine Maxwell

FYI, following up on my email of this morning. Again, Ihave no intention of responding unless you direct otherwise.

From:

Sent: Friday, March 04, 2011 11:12 AM
To: Brett D. Jaffe

Subject: Ghislaine Maxwell

Dear Brett Jaffe,

I left you a telephone message earlier. The Mail on Sunday newspaper is running a story on Ghislaine
Maxwell, Jeffrey Epstein, Prince Andrew and others this weekend.

We urgently require responses from Ms Maxwell to the following questions. Our deadline is noon
tomorrow. My telephone numbers are |

Annette Witheridge
On behalf of the Mail on Sunday

HOUSE_OVERSIGHT_023051
"
IMAGES-008-HOUSE_OVERSIGHT_025303.txt,"Laffer Associates Game On [Updated 7/6/2016]

Table 1
Primaries Completed as of May 3""

Republican Primary Turn Out % Increase | %Increase DemocratPrimaryTurnOut % Increase Democrat Democrat
2016 from 2016 from 2016 from Advantage Advantage
2008 2012 2016 2008 2012 2008 2016 2008 2008 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 44% 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 -A7.7% 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)
ten : 234,625 249,534 287 683 21.1% 15.3% 288,672 254,776 -11.7% 54,047 (32,907)
lampshire
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% §32,151 373,063 -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

HOUSE_OVERSIGHT_025303
"
IMAGES-003-HOUSE_OVERSIGHT_016054.txt,"Nobel Prize Medal

“If I could explain it to the
average person, I wouldn't have
been worth the Nobel Prize.”

Richard P. Feynman

HOUSE_OVERSIGHT_016054
"
IMAGES-005-HOUSE_OVERSIGHT_018636.txt,"He created the predicament when I started to cry and flinch around. It was very simple.
He leaned over me. ""For the next three, keep your face down and your hands still,” he
said. ""Promise me.”

""I can't,"" I said. ""I can't promise."" I said it frantically. I was terrified of failing him. ""I
can't.”

""You have to,"" he said gently. ""So you will.”

I cried harder. I sobbed so hard I couldn't speak. He stayed where he was, leaning over
me, and kept a merciless silence. ""I promise,"" I finally said, when I could shape words.
My back was to him, I couldn't see his face, but I swear I felt him smile.

When he hit me again, I barely moved. After the count of three, he said he wanted to see
how much longer I could go, but the answer was that I couldn't -- I started to flinch
strongly again. Of course, he kept hitting me, if only for that. But at least I hadn't broken
my promise. Hadn't failed him.

KK Ok

I've heard about a game in which the submissive partner stands next to a wall, and holds
two coins against the wall -- one in each hand. The dominant then does, you know, some
stuff. On the submissive's part, dropping the coins spells failure. This sounds pretty hot,
and it's one way to make a concrete predicament. But during the above encounter -- my
first time being flogged -- I assure you that it was plenty hot enough without any coins.
With only my promise and my awareness to keep me in line.

Sometimes I can't obey the order, no matter how hard I try. My partner may order me not
to move, for example, when I can't help moving. If I were in the above scenario, with the
coins, I'm not confident that I wouldn't drop them. It's scary -- especially if I love him,
because then all the emotions are multiplied. But even if I'm not in love -- as long as he's
got me in the right mental space, then if I fail, I will say ""I'm sorry” over and over. I'll be
terrified of his anger; I'll feel like I deserve punishment, and if he doesn't keep hurting me
I'll feel abandoned.

The more I fail, the more it hurts -- more than physical pain ever could. Slamming up
against my own limits makes me feel terribly inadequate. It's hot, but it's dangerous; it
can rip me apart. At times like that, I often need my partner to tell me after we're done: ""I
still like you and think you're a good person.”

And sometimes I need to hear that especially if I safeword out of the encounter, because
sometimes -- not always, but sometimes -- calling my safeword can feel like the worst
failure of all.

KK ok

When I trace some of the weirdest and most random situations that get me hot, I see that
predicaments come up all the time. For example, I have a terrible tendency to try and
make out with a partner right before we're expected to be somewhere. I might be totally
cold 30 minutes before we have to leave, but 10 minutes before we have to leave, ding!
It's like a switch flips. We've got to leave, but I grab him and now he's turned on, oh no!

HOUSE_OVERSIGHT_018636
"
IMAGES-010-HOUSE_OVERSIGHT_029083.txt,"Christian West that believes in the underpinnings of that and believes in the precepts of
that and want to see that bequeathed to other generations down the road as it was
bequeathed to us, particularly as you're in a city like Rome, and in a place like the Vatican,
see what’s been bequeathed to us — ask yourself, 500 years from today, what are they
going to say about me? What are they going to say about what I did at the beginning
stages of this crisis?

Because it is a crisis, and it’s not going away. You don’t have to take my word for it. All
you have to do is read the news every day, see what’s coming up, see what they’re putting
on Twitter, what they’re putting on Facebook, see what’s on CNN, what’s on BBC. See
what’s happening, and you will see we’re in a war of immense proportions. It’s very easy
to play to our baser instincts, and we can’t do that. But our forefathers didn’t do it either.
And they were able to stave this off, and they were able to defeat it, and they were able to
bequeath to us a church and a civilization that really is the flower of mankind, so I think
it’s incumbent on all of us to do what I call a gut check, to really think about what our role

is in this battle that’s before us.

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_029083
"
IMAGES-005-HOUSE_OVERSIGHT_019528.txt,"40 | HOW AMERICA LOST ITS SECRETS

cine,” he said. “When you have too much it can be fatal.” Like Paul,
Snowden ardently opposed any form of gun control, as did Lindsay
Mills in her online postings.

Like other Libertarians, Snowden, a contractor for the government,
saw the government as an adversary. “The [American] government,”
he later said, “assumed upon itself, in secret, new executive powers
without any public awareness or any public consent and used them
against the citizenry of its own country to increase its own power,
to increase its own awareness.” Most relevant to his future activities
at the NSA, Snowden wholeheartedly agreed with Paul’s position
on the dangers inherent in government surveillance of U.S. citizens.
Paul described the CIA, the organization that had forced Snowden
out, as nothing short of a “secret government” and said that “in a
true Republic, there is no place for an organization like the CIA.” He
also railed against NSA surveillance.

As is clear from Snowden’s Internet postings, he, like Ron Paul,
had doubts about the competence of the intelligence agencies of the
U.S. government. Snowden’s own disillusionment about the govern-

© ment might have begun with his rejection and perceived mistreat- ©
ment by the Special Forces of the U.S. Army. It was almost certainly
reinforced by his ouster from the CIA. He later told The Guardian
that he was disillusioned as early as 2007 when he learned about the
CIA’s methods in compromising Swiss citizens. His critical view of
the U.S. government only hardened during the years he worked at
the NSA. He described his NSA superiors as “grossly incompetent,”
as he later explained to a journalist from Wired magazine in Mos-
cow. At the NSA, he said employees were kept in line by “fear and
a false image of patriotism.” He said that he saw his fellow workers
cowed into “obedience to authority” and his superiors induced to
break the law. He became particularly concerned with what he called
the “secret powers” of the NSA. He saw them as “tremendously
dangerous.” By this time, Snowden was fully aware that the NSA
conducted domestic surveillance because he had used his privileges
as a system administrator in 2012 to read the NSA inspector gen-
eral’s report on a 2009 surveillance program.

Nevertheless, Snowden continued to work at the NSA, where he
was, as he put it, “making a ton of money.” Mills joined him in his

| | Epst_9780451494566_2p_all_r1.z.indd 40 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019528
"
IMAGES-002-HOUSE_OVERSIGHT_013565.txt,"had run up her back. The passionate licking and sucking of her musky, moist, pink
labial lips brought what she said were explosions of pink and blue lights. She had
several ecstatic multicolored crises in a row, sometimes without pause. She begged
me to stop. | was as pleased as a sexually inexperienced young man in love could
have possibly been.

Bowled over by what seemed to be the uniquely sensual properties of her
brain, | began to wonder if her sensitivity was more general when she asked me to
keep the windows open or top down, even in the cool of a Florida January, because
the exhaust smell in my car was suffocating, though | couldn’t smell it. The car had
been checked and registered negative for abnormal fumes and leaks by Anderson
Ford. She asked me never to wear any kind of after-shave lotion because it choked
her. Jazz music on the car radio had to be played quietly. On-coming headlights
gave her headaches. Her mother, sometimes desperate, called me for help during
her daughters episodes of premenstrual emotionality and early menstrual
discomfort. During these times, we would drive together for hours as she explained
the many different colors of lower abdominal pain and how this particular kind
yawned darkly before it cramped. It was more purple then any of the others. | tried
to explain what | intuited but didn’t understand to her mother about the her gift of
unfiltered information coming through her nerve endings, her ever readiness for
surprise and her brain’s unwillingness or inability dampen or ignore what it didn’t
like. She saw things in art, heard things in music that | only saw, and heard after her
telling. She had tearful smiles listening to Debussy’s Afternoon of a Fawn. The
flatted fifths of Charley Parker and the laconic riffs of Miles Davis made her anxious.

Since then and for all these many years, the same sensually susceptible
brains showed up in my life carrying a variety of woman’s names and | never lost
my fascination for them. | learned that their heightened awareness extended to the
spiritual realm with unusually strong metaphysical inclinations and readiness for
transcendent experience. They seemed to live closer to the direct experience of
God. Attending Assembly of God and other Pentecostal midweek service, | found
that praying in tongues and dying in the Lord came as easily and dramatically to

them as their orgasmic experiences. At the same time, distant bad news could

65

HOUSE_OVERSIGHT_013565
"
IMAGES-006-HOUSE_OVERSIGHT_022060.txt,"ERSON

Seymour and Paula took Gary

their third son. “Paula was a

iker,” Grossberg remembers,

|-time job.”

y, with curly hair and a high,
Donatelli recalls.* Beverly was
t thanks to his precocious tal-
vo grades, they graduated from
together, in 1969.

smembers. “He tutored my girl-

He taught me geometry in just

a now, she recalls gentler times—
d boardwalk, roller-coaster rides,
1001, 1 think he kind of loved me,”
he kissed me. In fact, our history
g invitation for Jeffrey and myself
sretty inappropriate now. But back
y. Jews and the Italians, that was
te High School. They didn’t social-
mother was crazy about him, she
Italians.”

ral decades, Beverly remembers
and something of a prodigy—a
a math whiz.

friends the other day,” she says-

ontifying details,

and dialogue have been F

Fittuy Ricu

“There is nothing but nice we can say about him. He is actually
the reason I went to college.”

Beverly lost contact with Epstein over the years. But not long
after Epstein’s fiftieth birthday, she got a call out of the blue.

“He had a photo of us on the beach,” she says. “A friend
noticed it at his birthday party. And Jeffrey said to the friend: ‘I
bet she has a big ass now. So Jeffrey called me and invited me to
his home on 71st Street. We hung out. We reminisced. He was
the same Jeffrey. A gentleman.”

The two never did speak again, but to this day Beverly sym-
pathizes with her high school sweetheart.

“I feel so bad for him,” Beverly says. “That's how much I
liked him.”

Gary Grossberg was a year younger than Epstein and in the same
class as Epstein’s kid brother, Mark, with whom Grossberg
remains very friendly, though he hasn’t seen or spoken with Jef-
frey in some time. Both brothers are good people, he says.

“Jeffrey’s a brilliant and good person. He is also incredibly
generous.”

Grossberg says he’s talked to Epstein about “the problem in
Florida.” As he sees it, Epstein “got carried away...perhaps he
was hanging around with the wrong people.”

Grossberg wonders, too, if the things that made Epstein spe-
cial contributed to his eventual fall from grace.

“He was a diamond in the rough, you see,” Grossberg explains.

q “People recognized Jeffrey’s brilliance very early on. But he had a

_ gift for recognizing opportunities very quickly. He started buying

HOUSE_OVERSIGHT_022060
"
IMAGES-002-HOUSE_OVERSIGHT_013203.txt,"Section V
A Path to Human-Level AGI

HOUSE_OVERSIGHT_013203
"
IMAGES-001-HOUSE_OVERSIGHT_011874.txt,"/ BARAK / 117

reactor near Baghdad, there was never any question that we would take any and all
possible measures to prevent Syria from getting a nuclear weapon. An immutable,
core assumption in Israel’s security strategy was the need to retain our ability to
deter, and if necessary defeat, our enemies. A nuclear Syria — or Iraq, or Iran —
would dramatically alter the balance of power in the region, at obvious risk to
Israel. Syria posed a particular threat, as part of an increasingly close alliance with
Iran, and with Hizbollah in Lebanon.

The question, however, was how and when to strike the reactor. Olmert wanted
to attack within days. He seemed to assume that, as a former chief of staff, ’'d nod
enthusiastically and go along with him. I did understand the reasons for his sense
of urgency. Not only did we have to make sure we attacked before the fuel was on
site. There was always the risk the Syrians would find out that we were aware of
their nuclear facility, putting them on even higher alert. But the operational
challenge was complex. We need a fail-safe plan to destroy the reactor. We had to
do it in such a way as to avoid a full-scale military confrontation with Syria if
possible. And we had to ensure we were ready for that, if it did happen. It took
very little time for me to realize that none of those prerequisites was yet in place.
Not unlike the recent Lebanon war, we were choosing between two off-the-shelf
plans from the kirya. One involved using a large military force, and would almost
certainly draw us into a major conflict with Syria. The other was a smaller,
targeted operation. But it remained untested, and there was no certainty it would
actually destroy the reactor.

Over the next few months, Olmert got more and more frustrated with the fact
we hadn’t yet attacked, and frustrated with me as well. We held dozens of
meetings, sometimes two or three a day, chaired by the Prime Minister, sometimes
by me as Defense Minister, or by the chief of staff or service commanders.
Invariably, I began my remarks by saying: “We have to destroy the reactor.” This
was not because I felt that any of us seriously doubted that. It was because Olmert
was beginning to suggest to the few ministers and senior officers aware of our
planning that I was against attacking the reactor. In fact, I was working with the
military and Mossad to ensure we had a plan that would succeed, with the
minimum possible risk of drawing us into a major clash with the Syrians after the
facility was destroyed. I was also working — with the help of the Americans — to
make sure we could get the forces and munitions in place in the north of Israel to

403
HOUSE_OVERSIGHT_011874
"
TEXT-002-HOUSE_OVERSIGHT_033584.txt,"From: 
Sent: 9/26/2016 8:59:46 PM 
To: 
Subject: humor and trump and evolutionary logic 
was pleased that Robert Lynch's work and my own were cited in a Nation 
article on the lack of humor of our Republican standard bearer 
https://www.thenation.com/article/have-you-ever-seen-donald-trump-laugh/ 
congratulations Robert 
John and Jeffrey, i will write you shortly 
jeevacation@gmail.com________________________________________________________ 
HOUSE OVERSIGHT 033584 
"
TEXT-001-HOUSE_OVERSIGHT_030235.txt,"From: 
Sent: 7/16/2011 6:42:55 PM 
To: jeevacation@gmail.com 
Subject: Fwd: 'Atlas Shrugged': From Fiction to Fact in 52 Years . 
Attachments: image007.jpg 
Importance: High 
From Stevie. 
-----Original Message----- 
From: Steven Sinofsky 
To: 'Melanie Walker' < 
Sent: Sat, Jul 16, 2011 11:05 am 
Subject: 'Atlas Shrugged': From Fiction to Fact in 52 Years . 
'Atlas Shrugged': From Fiction to Fact in 52 Years 
By STEPHEN MOORE 
Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet 
read ""Atlas Shrugged"" a ""virgin."" Being conversant in Ayn Rand's classic novel about the economic carnage 
caused by big government run amok was practically a job requirement. If only ""Atlas"" were required reading for 
every member of Congress and political appointee in the Obama administration. I'm confident that we'd get out 
of the current financial mess a lot faster. 
The art for a 1999 postage stamp. 
Many of us who know Rand's work have noticed that with each passing week, and with each successive 
bailout plan and economic-stimulus scheme out of Washington, our current politicians are committing the very 
acts of economic lunacy that ""Atlas Shrugged"" parodied in 1957, when this 1,000-page novel was first 
published and became an instant hit. 
HOUSE OVERSIGHT 030235 
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 I 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 I give?"" 
""Implicitly!"" 
HOUSE OVERSIGHT 030236 
""Then start by abolishing all income taxes."" 
""Oh no!"" screamed Mr. Thompson, leaping to his feet. ""We couldn't do that . . . How would we pay government 
employees?"" 
""Fire your government employees."" 
""Oh, no!"" 
Abolishing the income tax. Now that really would be a genuine economic stimulus. But Mr. Obama and the 
Democrats in Washington want to do the opposite: to raise the income tax ""for purposes of fairness"" as Barack 
Obama puts it. 
David Kelley, the president of the Atlas Society, which is dedicated to promoting Rand's ideas, explains that 
""the older the book gets, the more timely its message."" He tells me that there are plans to make ""Atlas 
Shrugged"" into a major motion picture -- it is the only classic novel of recent decades that was never made into 
a movie. ""We don't need to make a movie out of the book,"" Mr. Kelley jokes. ""We are living it right now."" 
HOUSE OVERSIGHT 030237 
"
TEXT-002-HOUSE_OVERSIGHT_032842.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 7/2/2014 2:42:24 PM 
To: Weingarten, Reid 
Subject: Re: 
Importance: High 
Been beaten up by trump , promoter, he is strIght with me and will with my direction , be with you 
On Wednesday, July 2, 2014, Weingarten, Reid 
God guy? 
From: Jeffrey E. [mailto:jeevacation@omail.com] 
Sent: Wednesday, July 02, 2014 10:39 AM 
To: Weingarten, Reid 
Subject: Re: 
Very 
On Wednesday, July 2, 2014, Weingarten, Reid 
Is he a friend of yours? 
From: Jeffrey E. [mailto:jeevacation@gmail.com] 
Sent: Wednesday, July 02, 2014 10:36 AM 
To: Weingarten, Reid 
Subject: Re: 
No but you should tLk to nick ribbis knows it inside and out 
wrote: 
wrote: 
On Wednesday, July 2, 2014, Weingarten, Reid wrote: 
On my way to atlantic city...thinking of helping a client ""steal"" the revel casino...(in bankruptcy)...he wants to give me a 
piece...you want in? 
From: Jeffrey E. [mailto:jeevacation@gmail.com] 
Sent: Wednesday, July 02, 2014 10:18 AM 
To: Weingarten, Reid 
Subject: 
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 
HOUSE OVERSIGHT 032842 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may 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 032843 
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 032844 
"
IMAGES-009-HOUSE_OVERSIGHT_026525.txt,"Similarly, a strategy for player 2 dictates whether he will continue or exit as a function
of everything player 1 has done in the past. One relatively simple strategy for player 2
is to continue so long as player 1 has cooperated. If both players play according to this
pair of strategies, each time the temptation is low, player 1 cooperates and gets a, player
2 gets b, and the game continues with probability w until the first time the temptation
is high. Then, player 1 defects and gets c, and player 2 gets d. Some straightforward
calculations yield the players’ expected payoffs: player 1’s is [ap + c,(1 — p)] / [1 — pw]
and player 2’s is [bp + d(1 — p)| / [1 — pw]. Because a strategy specifies players’ moves in
every period and the game’s length is undetermined, infinitely many possible strategies
exist. We are primarily interested in the seven strategies represented in Figure 2, which
shows the expected payoff for each player for each strategy pair of interest.

Of particular interest is the strategy pair designated in the top left corner of figure 2),
in which player 2 discriminates between cooperators who look and those who do not
look, and player 1 cooperates without looking (CWOL). The following simple argument
demonstrates that this strategy pair is a Nash Equilibrium (which means no player has
an incentive to unilaterally deviate) whenever ~*~ > qp+cp(1—p). This condition has a
natural interpretation: player 1’s expected temptation from defection is less than the gains
from an ongoing cooperative interaction. Thus, player 1 would lose from deviating, for

example by looking, because this would end the lucrative ongoing relationship, reducing

a
Le

player 1’s payoff from an expected to 0. Player 2 would also lose from deviating, by
choosing to exit, because when player 1 is always cooperating, she expects oo from the
relationship, and exiting yields 0.

One potential concern with this equilibrium is that, since player 2 is not worse off by

not attending to looking, he might not do so. This turns out to not be the case. The

intuition is that if there is even a small probability player 1 looks, player 2 is better off

HOUSE_OVERSIGHT_026525
"
IMAGES-006-HOUSE_OVERSIGHT_020677.txt,"What might look like a fun photo at first glance, showing two brothers, Michael and Sean McQuilken, is actually the last
picture of them before being struck by lightning. The photo was taken at Moro Rock in California’s Sequoia National Park
on August 20, 1975. “At the time, we thought this was humorous. I took a photo of Mary (their sister) and Mary took a
photo of Sean and me. I raised my right hand into the air and the ring I had on began to buzz so loudly that everyone
could hear it. I found myself on the ground with the others. Sean was collapsed and huddled on his knees. Smoke was

pouring from his back,” recalled Michael. All of them survived but, sadly, Sean took his own life in 1989.

#12 Moving An Apartment Building To Create A

Boulevard In Alba Iulia, Romania

HOUSE_OVERSIGHT_020677
"
IMAGES-007-HOUSE_OVERSIGHT_024058.txt,"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 The General Partner will commit to the Fund at least 1.5% of the
Commitment aggregate Commitments of the Partners.
Term: 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).

Drawdowns: 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.

Investment Period: 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).

Diversification & Without the approval or ratification of the Advisory Board:

Investment Limitations:
(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

47 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024058
"
IMAGES-007-HOUSE_OVERSIGHT_023737.txt,"MZ

Contents

Preface

. Cognitive Process-Based Education

. Teaching Kids to Walk and Talk

. What Can’t You Teach?

. Twelve Cognitive Processes
That Underlie Learning

. Real-Life Learning Projects Considered
. A Socratic Dialogue

. Knowledge-Based Education vs.
Process-Based Education

. New Curricula for a New Way of Teaching

. How to Teach the Twelve Cognitive
Processes That Underlie Learning

10.Defining Intelligence

11.Restructuring the University

vit

HOUSE_OVERSIGHT_023737
"
IMAGES-008-HOUSE_OVERSIGHT_025465.txt,"Is Invitation: No

GUID: 397B3B3C-2CBF-4125-8D82-7CO51BE1585C

Message: Eco-Fascist

Sender: e:jeeitunes@gmail.com

Time: 05/13/19 04:47:57 AM (579440877)

Flags: 1085445
ITs Read: No

Is Invitation: No

GUID: 2E4F4CB6-81BD-4A43-8 9E5-DD28D937A8D

Gl
OQ

Message: Though he gave a nazi salute

Sender: e:jeeitunes@gmail.com

Time: 05/13/19 04:48:55 AM (579440935)

Flags: 1085445
Ts Read: No

Is Invitation: No

=

GUID: 67269689-77F2-41C2-80B

T,

aa

Message: As well as saying t

nN

doesn't scream when you throw

Sender: e:jeeitunes@gmail.com

7OBAODDSE4FE

difference betw

it in the oven

Time: 05/13/19 05:39:58 AM (579443998)

Flags: 1150981
Is Read: No

Is Invitation: No

GUID: 9B73413B-761B-4864-8440-13DF8FOB25B6

n jews and pizza , is that the pizza

Message: https://www.nytimes.com/2019/05/07/world/europe/austria-far-right-freedom

party.html

Sender: e:jeeitunes@gmail.com

Time: 05/13/19 05:39:58 AM (579443998)

Flags: 1085445
Ts Read: No

Is Invitation: No

GUID: C876C203-D3B7-405F-98E5-361FD45C6AF1

Message: whoopsie

Sender: i’

Time: 05/13/19 05:46:41 AM (579444401)

Flags: 1060865
Is Read: Yes

Is Invitation: No

HOUSE_OVERSIGHT_025465
"
IMAGES-004-HOUSE_OVERSIGHT_016534.txt,"Page 25 of 42
103 Minn. L. Rev. 844, *891

enforcement can learn of misconduct done mostly in secret, political or personal incentives for enforcement officials that
discourage zealous enforcement can exist for enforcement officials in the same jurisdiction - perhaps enmeshed in the same
political networks. In short, underenforcement in this realm follows more from favoritism toward offenders than the biases
against victim groups or types of offenses.

""Corruption"" is a notoriously hard concept to define, '*° but that difficulty is actually somewhat useful for present purposes.
Some of what constitutes public corruption is relatively clearly [*892] defined in positive law. Easy cases involve
straightforward property theft or embezzlement, quid pro quo bribery, and extortion. '*! Statutes also make clear at least some
cases of illegal gratuities and breaches of regulations that govern activities such as campaign finance. '** More ambiguous or
marginal cases of alleged corruption, however, illustrate the federal government's ambitious commitment to enforcing broad
interpretations of federal anti-corruption laws to conduct of state and local officials. That enforcement track record
demonstrates the strong commitment to enforcement redundancy in this area.

States have their own regulatory strategies to address government corruption, although independent assessments do not judge
them to be particularly successful. '°? The federal government seems to share that view. The Justice Department created a

Public Integrity Section within the Criminal Division in 1976, !>4

and in the four decades since, federal prosecutors have
[*893] aggressively prosecuted conduct of state and local officials that it determines breaches federal anti-corruption statutes.
'S> For the past two decades, federal anti-corruption prosecutions of state and local officials typically average 350-400 per year.
156 Combatting ""public corruption"" is a top priority for the Federal Bureau of Investigation, on par with combating threats of
terrorism, foreign espionage, and cyber-warfare. '*7 And many of these prosecutions targeted wrongdoing far removed from
property theft or quid pro quo bribery. !°8 They extend to conduct involving undue influence, breaches of fiduciary duty, or

failure to provide citizens with ""honest services"" 1°?

160

- wrongdoing for which the public harm is sometimes hard to identify.

[#894] By some accounts, including the U.S. Supreme Court's on occasion, 1°!

this enforcement agenda has been overly
aggressive. '°? But Congress has generally encouraged far-reaching federal enforcement, notably by expanding the scope of

federal anti-corruption law in response to narrow judicial interpretation. !®? And the key point here is that the federal executive

Crime Victims are Criticized, Irish Times (Nov. 16, 2015), hitp:-/Avww.irishtimes.com/news/crime-and-law/new-laws-on-rights-of -crime-
victims-are-criticised-1.2431095. By contrast, seeSinger v. United States, 380 U.S. 24, 34-37 (1965) (holding that due to judicial ""confidence
in the integrity of the federal prosecutor,"" U.S. attorneys need not give reasons for refusing to consent to defendant's waiver of jury trial). For
rare examples of U.S. rules requiring prosecutors to give reasons for not charging, see Colo. Rev. Stat. § 16-5-209 (2014) (requiring
prosecutor's reasons upon private complaint objecting to non-prosecution); Pa. R. Crim. P. 506.

14 Review within the U.S. Justice Department hierarchy is mandated by /8 U.S.C. § 3771(f) (2016); see also id. § 3771(f)(2)(D) (protecting
Justice Department decisions from judicial review).

US See 18 U.S.C. § 3771(a)(5).

116 The Availability of Crime Victims’ Rights Under the Crime Victims' Rights Act of 2004, 35 Op. O.L.C. 8 (2010). For a vigorous
argument against the OLC position, see Paul Cassell et al., Crime Victims’ Rights During Criminal Investigations? Applying the Crime
Victims' Rights Act Before Criminal Charges Are Filed, /04 J. Crim. I. & Criminology 59, 61-63 (2014) (arguing for victims’ right to confer
and that the right to fair treatment extends to pre-charging stage).

7 Doe v. United States, 950 F. Supp. 2d 1262, 1267-68 (S.D. Fla. 2013) (re-opening and setting aside a pre-charge non-prosecution
agreement between prosecutors and defense because prosecutor had not consulted with victim in violation of 1/8 U.S.C. § 3771).

8 See In re Dean, 527 F.3d 391, 395 (Sth Cir. 2008) (acknowledging lower court's interpretation of § 3771(a) before any prosecution is
underway); Does v. United States, 817 F. Supp. 2d 1337, 1342-45 (SD. Fla. 2011) (recognizing that 1/8 U.S.C. § 3771(a) can apply before
formal charges are filed); Jordan v. Dep't of Justice, 173 F. Supp. 3d 44, 52 (S.D.N.Y. 2016) (citing In re Dean, 527 F.3d at 395); United
States v. BP Prod. N. Am., Inc., No. H-07-434, 2008 WL 501321, at 11 (S.D. Tex. Feb. 21, 2008) (discussing /8 U.S.C. § 377] and a broad
duty to confer before charges are filed). Another district court refused prosecutors' request to dismiss charges before the prosecutor consulted
the victim. United States v. Heaton 458 F. Supp. 2d 1271, 1272 (D. Utah 2006) (citing victim's right under 78 U.S.C. § 3771](a)(8) ""to be
treated with fairness and with respect for [her] dignity and privacy"").

DAVID SCHOEN

HOUSE_OVERSIGHT_016534
"
IMAGES-011-HOUSE_OVERSIGHT_030825.txt,"In March 2011 tens of thousands of demonstrators took to the streets in Syria. The
protestors were demanding political reforms, dissatisfied with the cruel and
authoritarian regime of Bashar al-Assad, who has been in power for more than ten
years, succeeding his father after a 30-year rule. The government responded by
opening fire. Within a few months, a peaceful uprising grew into a full-scale civil
war, which has lasted for more than two years and is unlikely to end soon. This
August, the death toll in Syria has reached 100,000. More than a quarter of the 22
million population has been displaced, hundreds of thousands of refugees have left

the country.

The United States has been supporting the opposition, supplying it with food and
medical aid, but refraining from military intervention and from providing the rebels
with weapons. The Obama administration claimed that the US would not intervene
unless it had strong evidence of chemical weapons used by the Assad regime. In June
2013, Washington concluded that chemical weapons, including nerve agent sarin,
classified by The United Nations as a weapon of mass destruction, had been used.
The White House announced for the first time in June that it was going to send

weapons to the opposition. Congress vetoed this resolution.

There are many reasons why the US should refrain from providing the opposition
with weapons. Over the two years of military confrontation, the situation on the
ground has become increasingly chaotic. It is important to understand that there is

no united opposition capable of overthrowing / toppling Assad’s regime. Instead,

HOUSE_OVERSIGHT_030825
"
IMAGES-006-HOUSE_OVERSIGHT_021569.txt,"FEDERAL BUREAU OF INVESTIGATION
FOI/PA

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HOUSE_OVERSIGHT_021569
"
IMAGES-009-HOUSE_OVERSIGHT_026531.txt,"and heart rate [27], and sometimes blushing or stammering [28]. In contrast to the Social
Heuristics Hypothesis, our model also predicts that decisions related to cooperation are
more likely to be intuitive than other decisions that are similarly usually worthwhile, and
that intuitive cooperators are trusted more than reflective cooperators. To our knowledge,
neither of these predictions has been tested yet.

People dislike considering trade-offs related to “sacred values” [29]. Sacred values
are values such as love, liberty, honor, justice, or life, that people treat “as possessing
transcendental significance that precludes comparisons, trade-offs, or indeed any mingling
with secular values” [29]. While there is variation in what societies consider sacred,
virtually all societies have a concept of sacredness [29]. Sacred values are so strongly
imbued in us that we do not find them puzzling prima fascia, yet their existence and
origin remains poorly understood. What makes us treat some values as sacred and what
differentiates these values from secular values like free time or money that we more readily
trade off?

Our model provides one possible explanation. People who calculate costs of trading
off against sacred values are less trustworthy when it comes to safeguarding these values
than people who consider them sacred and would never calculate the costs of trading
off against them. Responding with disgust to these “taboo trade-offs” may be one way
to prevent us from interacting with people who make such trade offs and hence are less
trustworthy, and may also be a way to signal to others that we ourselves would not
consider, and therefore make, such trade-offs. Consistent with CWOL, it is taboo to
consider the trade-off even if one ultimately makes the right choice, and the longer the
trade-off is considered for, the harsher the judgement by observers [29]. As with intuitive
cooperation, if people who refuse to consider taboo trade-offs are seen as more trustworthy,

this may lead people to evolve or learn to abide by these taboos. If CWOL indeed underlies

iim

HOUSE_OVERSIGHT_026531
"
IMAGES-012-HOUSE_OVERSIGHT_033158.txt,"Neilson Barnard/Getty Images

The Palm Beach finance crowd can paddleboard whenever they please.

Behind a semicircular brick drive and a lawn as manicured as a putting
green sits a 30,000-square-foot masterpiece of Italian Renaissance
architecture called Casa Nana.

John Porter, a real estate associate for Corcoran who oversees some of the
largest sales in Palm Beach County, Florida, points out the spiral staircase,
built by famed 1920s architect Addison Mizner for the founder of the
National Tea Company. “This home went for $30.2 million in 2003; today
that sum wouldn’t be in the top 25 highest prices” of houses for sale in this
area, Porter says. “Palm Beach real estate has gone from nothing going on to
nothing left to sell.”

Porter is giving me a tour of the so-called Billionaire’s Row, a stretch of
South Ocean Boulevard on the island of Palm Beach that is bordered by
some of the highest hedges I’ve ever seen. Through gaps in the greenery
appear stone fountains, elephant statues, pools the size of tennis complexes
(next to actual tennis complexes), and more clay roofs than one could count.
It’s amonumental display of wealth, and it is rapidly expanding, not just
here but in Delray Beach, Jupiter, Palm Beach Gardens and Boca Raton, as

HOUSE_OVERSIGHT_033158
"
TEXT-001-HOUSE_OVERSIGHT_014397.txt,"From: Ens, Amanda [ 
Sent: 11/17/2016 8:55:12 PM 
To: jeffrey E. [jeeyacation@gmail.com]; Richard Kahn 
Subject: USDJPY testing 110. Buy Japan upside 
Attachments: image001.png; image002.png; image003.png; image004.jpg; image005.jpg; image006.jpg; image007.jpg; 
image008.png; image009.jpg; image010.jpg; image011.jpg; image012.gif; Nikkei to 20000.pdf; Japan - Ready for 
ignition.pdf; Japan Macro Watch.pdf 
Importance: High 
Buy DXJ Jan 50/52 Call Spread for $0.35, ref 47.45, 13d. 4.7X net payout 
We can also discuss single stock and Topix banks index (TPNBNK) ideas 
The Republican sweep means higher USD and yields are a foregone conclusion. We see USDJPY reaching 120 next year 
and Japanese reflation, bullish for Japanese equities, particularly the banks. 
• Huge focus on Banks/Financials post Trump election, they're the big winners. 
• The Banking sector is the main beneficiary of higher rates/less regulation overhang. 
• Investors are still underweight Japan. Especially in financials, so the move can have legs 
• Valuation still at depressed levels. Japanese Banks are cheap versus their peers. 
• Having said that, uncertainty still there so buying calls and call spreads makes sense. Some investors are still 
skeptical. Instead of building a large cash position, we believe options are a better play in case the market reverses and 
initiates a risk off move again. 
-BAML expects USDJPY 115-120 by end of 2017. NKY target of 20,000 (12% upside) 
-BOJ's intentions to refrain from further flattening of local yield curve positive for Banks and Insurers. 
-DXJ carries a 12% weight in banks whereas NKY is only 1.07% and even TPX is only 8.55%. 
-Positioning light. DXJ shares outstanding at 3year lows as foreigners have net sold $52b1n of JP equities ytd. 
-DXJ skew remains flat. 2m 25d Put /Call skew at 19%tile over the past year. 
Japan Investment Strategy, Japan Econ Outlook and Japan Macro Watch attached 
DXJ 2m 25d Put/Call over the past year. 
Hi: L3928 Ratib : DX] 	1.40 
• (1.) Debt Ivol (25 Put 2 Months LIVE - LIVE Eilc.amberg) 
..... 1.35 
1.30 
------- 1.25 
1.20 
1.15 
Law-; 1.1171 .............. 	1.10 
Dec Mar Jun Sep 
2015 2026 
Copyright: 201.6 Bloomberg Finance L.P. 
17-Nov-2016 13:41:34 
Source: Bloomberg 
HOUSE OVERSIGHT 014397 
DXJ ETF shares outstanding remain at 3 year lows. 
CI • Last Price 0.156N1 
- T High on 08/20/15 0.327M 
Average 0.243M 
- i Low on 11/14/16 0.153M 
2014 2015 2016 
mom Index crn- JAPAN DfliD RAID 1 OUT) Daily 1911002013-17NU42016 CopyrighZ12016 Blccinterg Finance L.P. 17-Pipv-2016 14:07:06 
LL_Lpie 
0.3M 
0.25M 
0.2M 
0.156N 
Source: Bloomberg 
YTD net foreigner Japanese Equity flows: 
Dec 
Mar 
Jun 
2016 
Sep 
1p• Last Price -52555.8 
T High on 12/04/15 10157.7 
Average -39123.0 
Low on 09/23/16 -65860.9 
2015 
10000 
0 
-10000 
-20000 
-30000 
-40000 
_GThrwrin 
-52355,S 
-60000 
-70000 
.151HTIDII Index (Foreign ur1t1es I wtInent into Ja pan Stocks Net Flows 'r-10:l Oopyrighil 2016 loierg Finance L.P. 17-1M-2016 14:10:30 
Source: Bloomberg 
HOUSE OVERSIGHT 014398 
Amanda Ens 
Director I Global Equities 
Bank of America Merrill Lynch 
Merrill Lynch, Pierce, Fenner & Smith Incorporated 
Japan Investment Strategy 
Nikkei to 20,000: Inventory cycle upturn —> cyclicals;  
inflation —> banks, insurance  
Investment Strategy 
18 November 2016 
Key takeaways 
• Solid macro and weaker JPY positive for Japan equities, which also tend to outperform when 
US rate rises (esp. steepening) 
• The inventory cycle continues to recover on fiscal easing and capex, implying cyclical stocks 
will outperform 
• Inflation and higher yields positive for banks, insurance. Risk is diplomacy, protectionism, and 
US economic cycle 
FULL REPORT 
Bullish equities 2017; rotation into cyclicals, banks, insurance 
We are bullish Japan equities for 2017 and we estimate the Nikkei 225 index will recover to 20,000 by end-
2017 (see $/¥'s eventual surge: Buy Nikkei 06 September 2016). Our new Chief Japan Economist lzumi 
Devalier forecasts above-consensus Japan GDP growth and inflation in 2017, which is also supportive of our 
bullish equities scenario (see 4.eady for ignition 18 November 2016). We expect rotation into cyclicals, banks 
and insurance as explained below. 
HOUSE OVERSIGHT 014399 
1) Upturn in inventory cycle: Defensives—>Cyclicals 
We expect cyclicals to outperform defensives, premised on our end-2017 $114 estimate of ¥120, and this is 
supported by our above-consensus economic growth outlook. Our Japan economist sees a shift to fiscal 
easing, firms countering the tight labor market by increasing capex, and estimates industrial production to grow 
3.5% and 3.6% in 2017 and 2018, respectively. With the inventory cycle exiting a ""contraction"" phase and 
entering a ""recovery"" phase, conditions are likely to remain conducive to cyclicals outperforming defensives 
(Chart 1, Exhibit 3). 
2) Higher inflation, rates: Deflation stocks—>lnflation stocks 
Up to 1H16, the Japan equity market saw continued preference for deflationary stocks as domestic inflation 
remained subdued and the JGB curve underwent excessive bull flattening. Defensives outperformed cyclicals 
(Chart 1), growth outperformed value (Chart 2), and stocks that benefit from a low-yield environment (REITs) 
outperformed the converse (banks, insurance; Chart 3). However, we expect conditions to reverse into 2017. 
We see US Treasury yields rising and Japanese core CPI inflation recovering to +1.4% yoy by 2018 and core-
core to +1.1% yoy. Stronger inflation and higher foreign yields should steepen the JGB yield curve above10yr, 
while below 10yr should escape from downward pressure as BoJ rate cut expectations recede. Against this 
backdrop, we expect to see a rotation from deflation to inflation stocks, which in addition to cyclicals means 
banks and insurance should outperform REITs within the financial sector (Chart 3). This is also in line with the 
global rotation expected by Michael Hartnett (The Flow Show: The inflation Era Begins 10 Noverriper 2016). 
3) Nikkei winner of steeper UST and strong macro 
In a scenario of strong external demand and US rate hikes (particularly with curve steepening), Japan equities 
tend to be the winner on a local currency basis, led by cyclicals, banks and insurance stocks (Exhibit 4). 
Resurgence in the ""Japan macro trade"" of short yen / buy equities is also a possibility. 
Our Buy-rated stocks in bank, insurance and cyclical sectors are listed in Table 1. 
Shusuke Yamada, CFA 
FX/Equity Strategist 
Merrill Lynch (Japan) 
Global Research 
Bankof America 
Merrill Lynch 
HOUSE OVERSIGHT 014400 
Japan Economics Viewpoint 
Ready for ignition  
18 November 2016 
Key takeaways 
• We are upbeat on Japan's outlook and think consensus is underestimating the strength of 
medium-term GDP and inflation. 
• While the consensus looks for just 0.8% growth next year, we expect growth of 1.4% in 
CY17 and 1.2% in CY18. 
• With inflation moving in the right direction, we expect BoJ to keep its rates targets 
unchanged for the foreseeable future. 
WATCH THE VIDEO  
FULL REPORT 
Consensus underestimating GDP and inflation 
We are upbeat on Japan's outlook and think consensus is underestimating the strength of medium-term GDP 
and inflation. We expect growth of 1.4% in CY2017 and 1.2% in CY2018, well above consensus of just 0.8% 
growth next year. For the first time in four years both monetary and fiscal policy are supporting growth. The 
combination of modestly higher commodity prices, a weaker yen, and a tightening output gap should drive 
Japan-style core inflation to 1.0% in CY2017, and 1.4% in CY2018. We expect the BoJ to keep its rate targets 
unchanged for the foreseeable future as inflation moves in the right direction. 
Fiscal and monetary policy realigning 
For years Japan has oscillated between loose and tight fiscal policy. Japanese policymakers now seem to be 
on the same page and we see little risk of another policy error. If anything, we see upside risks from greater 
fiscal stimulus via a third supplementary budget or a relatively aggressive FY17 ordinary budget. Meanwhile, 
HOUSE OVERSIGHT 014401 
the BoJ's new interest-pegging regime ensures that financial conditions will become increasingly stimulatory 
as inflation rises. 
2017 - a year of recovering domestic demand 
We think the economy is heading towards a cyclical sweet spot and see a broad-based recovery in domestic 
demand. Specifically, 1) consumption is poised to rebound as the saving rate peaks; 2) capex should 
accelerate in response to the improving demand outlook, deepening supply-side constraints, and ""low-for-
longer"" real rates; and 3) increased efforts by policymakers to accelerate income redistribution could push up 
the velocity of money at the margin, helping to reflate the economy. 
Biggest risk factor: US policy uncertainty 
External developments pose the greatest risk to our forecasts, chief among them US policy uncertainty. The 
downside scenario for Japan is a combination of rising US protectionism, sliding global trade, and a stronger 
yen, which could reduce 2017 growth to zero. The Trump presidency may increase pressure on Japan to 
achieve greater military self-reliance, boosting defense spending. There will also be greater incentives to 
deepen economic and trade linkages with key regional players, such as China and Russia. 
Chart 1: We think consensus is underestimating the strength of medium-term GDP and inflation 
2.0 
1.6 - 
1.0 '9'7 0.6 
1111  -0.3 -0.3 
0.5 - 
0.0 
Real GDP %YoY 4 CPI ex fresh food %YoY / 
........................................................................./  ' 
/ 0 
-0.5 
04 
CY1 6 CY1 7 CY1 CY16 CY17 CY1 3 
• BofANIL Consensus (Bloomberg, as of 15 Nov 2016) 
Source: BofA Merrill Lynch forecasts, Bloomberg 
lzumi Devalier 
Japan Economist 
Merrill Lynch (Japan) 
HOUSE OVERSIGHT 014402 
Bank of America 
Merrill Lynch 
2017 Institutional Investor (All-Japan) Survey 
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HOUSE OVERSIGHT 014403 
"
IMAGES-006-HOUSE_OVERSIGHT_020663.txt,"Mishcon de Reya

e ""Dershowitz would have been defending Epstein at the time of the alleged sexual
encounter, having been hired to work on the case in 2005 when a number of underage
girls began coming forward and telling police they were paid to have sex.""

e ""This makes the second woman to allege that she had sex with Dershowitz at the
behest of Epstein.""

These allegations mean and would be understood to mean that:

e Mr Epstein directed] to have sex with our client;

e Our client had encouraged Mr Epstein to direct in this way;

e Ms Ransome alleged that our client had sex with her;

e Our client did in fact have sex wit

e Our client was in some way involved in Mr Epstein's soliciting of women for
prostitution;

« Our client was in some way involved in Mr Epstein's soliciting of children for
prostitution;

« Our client's behaviour was improper and in breach of his professional obligations
and the law; and

e Our client is a sexual predator and/or a paedophile.
The facts

Our client did not have sex with PF Indeed, our client has never met or
previously heard of

f has been unwilling to make any claims about our client outside the courtroom
(we assume for privilege reasons).

Our client has never been in any way involved in Mr Epstein's alleged soliciting of women or
children for prostitution. Our client is not a sexual predator or a paedophile.

We are instructed that:

e The allegations made by MM form part of a wider campaign against our
client by MMB lawyer, David Boies, against whom our client has filed a
complaint with the Florida bar.

¢ [ERE is 2 known fantasist. Amongst other claims, she has claimed to have sex
tapes of the US President, Donald Trump, as well as Hillary Clinton, Bill Clinton, and
other prominent figures. She has also accused our client of having acted for her in
the past — a claim which is easily disprovable by court records.

51150637.2 2

HOUSE_OVERSIGHT_020663
"
IMAGES-007-HOUSE_OVERSIGHT_023723.txt,"Forthcoming (August 2011) Future Science edited by Max Brockman, Vintage Press, New York.

Here are just a few recent headlines from major newspapers: “HOLY MACKEREL AND OTHER
GUILT-FREE FISH” (New York Times), “GUILT-FREE SUSHI” (Christian Science Monitor), “CoD
AND CHIPS? MAKE IT POLLOCK IN GUILT-FREE GUIDE TO SEAFOOD” (The Times of London), and
“A GOOD APPETITE; SEAFOOD, EASY AND GUILT-FREE” (New York Times).

It is perhaps unsurprising that a set of tools has emerged to assuage this guilt and, in the
case of seafood, reform the appetite.” These tools aim to divert demand from one type of seafood
toward another. Wallet cards, iPhone apps, and eco-labels tell consumers which fish ought to be
and ought not to be eaten. Shoppers in Europe have been given rulers, so that they can measure
fish and avoid buying juveniles.

Guilt abounds in many situations where conservation is an issue, not just in the response
to overfishing. Harried by guilt, one mother reuses her daughter’s bathwater for her own bath.
Los Angeles shoppers refuse to buy blueberries imported from Chile, because of the fuel
consumed in shipping them. Another woman feels guilty about the natural habitat lost to cocoa
cultivation and refuses to buy chocolate, prompting her husband to say that she took the joy out
of his Almond Joy.® Just as the devout purchased guilt-alleviating papal indulgences in the
Middle Ages, guilt-ridden consumers today buy carbon offsets, LED light bulbs, and hybrid cars
and can be guided to something approaching sanctimony by books like The Virtuous Consumer,
The Rough Guide to Shopping with a Conscience, and The Eco Chick Guide to Life: How to Be
Fabulously Green.

The problem is that environmental guilt, while it may well lead to conspicuous
ecomarkets, does not seem to elicit conspicuous results. One supermarket chain introduced signs

at the fish counter to show the most and least sustainable seafood: Sales of the green-tagged

SJ. Jacquet, et al., “Conserving wild fish in a sea of market based efforts,” Oryx 44:1, 45-56 (2010).
°C. Crawford, “Green with Worry,” San Francisco Magazine, February 2008.

HOUSE_OVERSIGHT_023723
"
IMAGES-008-HOUSE_OVERSIGHT_025471.txt,"Flags: 1085445
Is Read: No
Is Invitation: No

GUID: AF170AA0-9767-4ADC-B8 9B-5C387AE6CDF9

Message: not sponsor. partner
Sender: e:jeeitunes@gmail.com
Time: 05/15/19 02:17:51 PM (579647871)

Flags: 1085445
Is Read: No

Is Invitation: No

r

GUID: C95A5E3F-8B32-4ED4-B90E-8AA5235E4B5A

Message: oman wants to mediate

Sender: e:jeeitunes@gmail.com

Time: 05/15/19 02:18:46 PM (579647926)

Flags: 1085445
Is Read: No

Is Invitation: No

GUID: FO8DFD32-F2D5-4F3E-AEB45-814ED972A021
Message: houthi sponsor is iran.

MBS

Sender: e:jeeitunes@gmail.com

Time: 05/15/19 02:19:31 PM (579647971)
Flags: 1085445

Ts Read: No

Is Invitation: No

GUID: D9915182-D585-4CBO-A4A0-12F668499E21
Message: i wonder if the center pieces will be
Sender: e:jeeitunes@gmail.com

Time: 05/15/19 02:20:09 PM (579648009)

Flags: 1085445

Is Read: No
Is Invitation: No

F299F01C-73BE

£

GUID: 48 8C-A5AC-BBAEA9859554

Message:

Sender: e:jeeitunes@gmail.com

Time: 05/15/19 02:22:42 PM (579648162)

Flags: 1085445

Is Read: No

the

"" heads

I love the idea that the g20 next year ,

W

would give new meaning to want to be at the head table

hosted by

of corporations :)

HOUSE_OVERSIGHT_025471
"
IMAGES-011-HOUSE_OVERSIGHT_030831.txt,"a

o

o

2

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« Public Notices

Home > News > Palm Beach County News

Search © Allcontent © Business listings

Victims win right to see
negotiations that led to

. [Search Submit Query |
. | Submit Query |

lenient’ plea agreement for billionaire sex 000-4 soc:
offender

Latest in legal saga involving Jeffrey Epstein, 61,
financier convicted of procuring minor for prostitution

print

Eg] Jeffrey Epstein

Jefirey E. Epstein pleaded
guilty in 2008 to soliciting
prostitutes at his Palm Beach
mansion. (The Palm Beach

County Sheriff's Office via The

New York Times / April 21,

2014)

+ Related

Pe] Gov. Scott signs bills clamping

down on sexual predators

Gov. Scott signs bills clamping down on sexual predators

* include all of these words: |
include any of these words: rT ti‘(‘(‘iCé;;!!;*~*z
include this exact phrase: [tti‘“‘C;CSC~S

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HOUSE_OVERSIGHT_030831
"
IMAGES-004-HOUSE_OVERSIGHT_016520.txt,"Page 11 of 42
103 Minn. L. Rev. 844, *862

Under the criminal justice systems of all other major common law countries and nearly all European states, victims’ rights also
include authority to challenge prosecutors’ decisions not to prosecute, either by a limited right to initiate prosecutions as private
parties or by enabling victims to trigger judicial or [*863] administrative review of noncharging decisions. °* By contrast,
nearly every U.S. jurisdiction rejects these mechanisms. State and federal laws consistently avoid permitting victims any power
to challenge or encroach on public prosecutorial authority. Federal law, for example, explicitly dictates that ""nothing im this
[victims' rights] chapter shall be construed to impair the prosecutorial discretion of the Attorney General or any officer under
his direction."" ©? State statutes manifest the same policy in various ways, such as by prohibiting legal remedies for violations
of participation rights they create. °+ U.S. laws limit victims’ participation to ""non-dispositive"" forms, such as providing
information and personal statements to prosecutors, judges, and parole boards, which facilitates victims’ influence on public
officials' decisionmaking. ® But state and federal policy rejects enlisting victims as ""agents of accountability"" for public
prosecution. °°

In U.S. jurisdictions and elsewhere, the conceptual innovation of victims' rights laws was to recognize victims’ distinct private
[*864] interests in public criminal litigation. Most rights are specific entitlements to advance victims' broader, dignitary right
to be ""treated with fairness and with respect for the victim's dignity."" ©” These provisions conceive of victims as ""agents of
individual rights"" and ""independent from systemic interests,"" and their interests can either conflict or align with those of law
enforcement. ° At the same time, victim participation rights can also be understood to serve a broader public interest in
procedural outcomes, on the premise, for example, that prosecutors’ and judges’ decisions will improve with direct input from
victims. Public decisionmaking risks substantive deficiency, and criminal process would be procedurally deficient, without due
regard for victims’ interests. Jurisdictions that empower victims to challenge non-prosecution decisions enable private parties
themselves to address the problem of criminal law underenforcement. The remainder of this Section provides some detail on
contemporary forms of private prosecution authority, their capacity to advance public as well as private interests, and reasons
for its absence (or demise) in U.S. jurisdictions.

1. Private Prosecution in the Shadow of Public Prosecution

funding of these program areas was not provided""). In specific contexts as diverse as tax law and marijuana control, legislators intentionally
limit enforcement budgets in order to restrict enforcement efforts. See Daniel C. Richman, Federal Criminal Law, Congressional Delegation,
and Enforcement Discretion, 46 UCLA LE. Rev. 757, 793-99 (1999) (discussing agency budget appropriations as a mechanism of congressional
control over some agencies, such as the IRS, more than others, such as the FBI); Rachael Bade, Republicans Seek to Cripple IRS: The GOP's
Moves Will Gut the Tax Agency, Advocates Warn, Politico (Dec. 11, 2014), https:/Avww.politico.com/storv/2014/12/republicans-irs-
regulations-1 13484 (quoting a senator's aim to use ""the power of the purse"" to ""push back on the regulatory overreach"" of the IRS and EPA);
Douglas A. Berman, Mixed Outcomes for Marijuana Reform Efforts in Latest Omnibus Spending Bill from Congress, Sent'g L. & Pol'y Blog
(Dec. 16, 2015), hitp:-//sentencing.tvpepad.com/sentencing law_and_policy/2015/week5 I/index.himl (describing H.R. 4660, enacted as part of
a spending bill, which prohibited spending of Justice Department funding to hinder state medical marijuana policies).

36 See, €.2., Crown Prosecution Serv., The Code for Crown Prosecutors 4 (2013),
https://www.cps.gov.uk/sites/default/files/documents/publications/code_2013_accessible_english.pdf (providing guidelines for England and

Wales). Familiar policies include declinations based on first-offender or drug-court diversion programs, the adequacy of civil penalties, a
policy preference for public health responses to drug abuse, and - with regard to marijuana - federal deference to state policymaking. See
Memorandum from James M. Cole, Deputy Attorney Gen. to U.S. Attorneys, Guidance Regarding Marijuana Enforcement (Aug. 29,
2013),http:/Avwww justice. gov/iso/opa/resources/3052013829132756857467.pdf (describing Justice Department policy not to prosecute
marijuana dealers who comply with state law). For local examples, see Joseph Goldstein, Spare a Swipe? New York City Eases Rules for a
Subway Request, N.Y. Times (Apr. 17, 2016), Atips://www.nytimes.com/2016/04/18/nyregion/spare-a-swipe-new-yvork-city-eases-rules-for-a-
subway-request.himl (describing a new policy ""by the Manhattan district attorney's office to no longer prosecute people arrested for minor
infractions such as swipe-begging, smoking in the subway, or taking up two seats on a subway car""); Greg LaRose, No Arrests for Pot
Possession in New Orleans, Council Decides, Nola.com (Mar. 17, 2016),
hittps://www.nola.com/politics/index.ssf/2016/03/marijuana_possession_ city_coun.html (reporting city council vote to expand range of
marijuana offenses for which police do not have to arrest offenders or charge as state criminal misdemeanors); Max Taves & Justin Scheck,
San Francisco Police Ease Drug Enforcement, Wall St. J. (Aug. 1, 2012),
https://www.wsj.com/articles/SB 100008723 963904 44226904577559243414878630 (describing police treating drug possession crimes as a
low priority in part because the chief prosecutor ""looks at drug possession as a health issue""). Seattle city voters in 2003 approved Initiative
75, which established adult personal marijuana use as ""Seattle's lowest law enforcement priority."" Seattle Voters Approve Initiative Making
Marijuana Enforcement City's ""Lowest Priority,"" NORML (Sept. 18, 2003),/ttp-/norml.org/news/2003/09/1 8/seattle-voters-approve-
initiative-making -marijuana-enforcement-city-s-lowest-priority.

DAVID SCHOEN

HOUSE_OVERSIGHT_016520
"
IMAGES-006-HOUSE_OVERSIGHT_022074.txt,"TERSON

took him three years, working
mey’s office, Epstein finally did
-S'5 maze and recover Obregon's

bank in the Cayman Islands.
na prevents us from knowing

iow much he kept. But given the
y earned millions — or more —

as nothing but appreciation for

ems.” she says. “I don’t want any-

t of the deal with a new modus.

ly work with the super rich.

104

CHAPTER 25

Eva Andersson: July 8, 1980

iss Sweden, Eva Birgitta Andersson, is wearing a daz-
zling white gown and sweating, ever so slightly, under
the stage lights. But Bob Barker’s about to announce the
winner of this, the twenty-ninth Miss Universe pageant, held in
Seoul, South Korea, and Eva’s smile is as wide as the ocean.
“And now that we know what Miss Universe will win, let’s
see which five girls are still in the running!”
Barker pauses, like the expert broadcaster he is. Eva’s chest
_ tightens. There are twelve women onstage, all of them beautiful —
| even if they’re not quite as beautiful as Miss Sweden.
“On this card are the names of five contestants who have
 Teceived the highest total score from our judges in the personal
""interview, the swimsuit, and the evening gown competition.”
_ Eva feels the camera pan across the stage—pan across her,
‘Standing in between Miss Scotland and Miss Puerto Rico.

¢

105

HOUSE_OVERSIGHT_022074
"
IMAGES-002-HOUSE_OVERSIGHT_013217.txt,"16.6 Issues with Virtual Preschool Engineering 301

Fig. 16.2: Part 2 of a Piagetan conservation of volume experiment: a child observes two different-
shaped glasses, which (depending on the level of his cognition), he may be able to infer have
the same amount of milk in them, due to the events depicted in Figure 16.1.

16.6.1 Integrating Virtual Worlds with Robot Simulators

One glaring deficit in current virtual world platforms is the lack of flexibility in terms of tool use.
In most of these systems today, an avatar can pick up or utilize an object, or two objects can
interact, only in specific, pre-programmed ways. For instance, an avatar might be able to pick up
a virtual screwdriver only by the handle, rather than by pinching the blade betwen its fingers.
This places severe limits on creative use of tools, which is absolutely critical in a preschool
context. The solution to this problem is clear: adapt existing generalized physics engines to
mediate avatar-object and object-object interactions. This would require more computation
than current approaches, but not more than is feasible in a research context.

One way to achieve this goal would be to integrate a robot simulator with a virtual world
or game engine, for instance to modify the OpenSim (opensimulator.org) virtual world to
use the Gazebo (playerstage.sourceforge.net) robot simulator in place of its current
physics engine. While tractable, such a project would require considerable software engineering
effort.

16.6.2 BlocksNBeads World

Another glaring deficit in current virtual world platforms is their inability to model physical
phenomena besides rigid objects with any sophistication. In this section we propose a potential

HOUSE_OVERSIGHT_013217
"
IMAGES-001-HOUSE_OVERSIGHT_011860.txt,"/ BARAK / 103

points. It would amount to retaining control over around 20 percent of the West
Bank, but none of the major Arab towns or cities. Though deliberately stopping
well short of share of the West Bank Arafat could have secured through a
negotiated peace, it would remove Israeli troops and settlers from most of the
territory. It would give the Palestinians ample room to set up a state if they so
chose, and conceivably to expand its area if some future leader had more of the
“Ben-Gurion” in him than Arafat. Until then, it would allow both of our peoples to
get on with their lives and focus on their own political and social and economic
challenges.

There was a second, critically important part to what I was proposing: the
construction of a physical security fence along the new “disengagement line” with
the West Bank. It was the suggestion rejected under Rabin, accepted under Peres
amid the Hamas bombings in the 1996 election campaign, but never followed
through on. Even under the new arrangement I envisaged, Israeli troops would
retain the freedom of action to respond to, or pre-empt, terror attacks with targeted
operations inside the West Bank. But the physical barrier would hugely increase
our ability to halt the attackers before they could strike.

Yet even if I’d been able to bring those on the left of Labor behind the plan, this
election campaign was going to be a lot tougher than in 1999. Since Knesset
members weren’t running for their seats, the Labor machine lacked its usual
incentive put up posters, knock on doors, or get out the vote. Arik, however,
benefited from the enthusiasm of Likudniks and other right-wing activists who saw
an opportunity to retake control of Israel’s political agenda.

Long before election day, I realized my time as Prime Minister was up. Before
the campaign began, an old friend of mine, a leading Israeli journalist, tried to talk
me into withdrawing. “You’re going to lose, Ehud,” he said. “Why, after making
all this effort for peace, after doing your best, do you want the last act to be losing
to Arik?” I'd never seen the objective as just staying in office. If that had been the
case, I wouldn’t have put the chances of a peace deal with Syria to their final test. I
wouldn’t have gone to Camp David. I also would have accepted Arik’s serial
offers to join a unity coalition. But never in my life had I walked away from a
challenge. I certainly wasn’t going to retreat in the midst of Palestinian violence,
and when Israel still faced key decisions on how to move on from Arafat’s
unreadiness to negotiate an end to our decades-old conflict.

389
HOUSE_OVERSIGHT_011860
"
IMAGES-008-HOUSE_OVERSIGHT_026178.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
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

HOUSE_OVERSIGHT_026178
"
IMAGES-010-HOUSE_OVERSIGHT_029929.txt,"“He's the chief watchdog, who watches over all the other
watchdogs—but this must be his night off-”

no magic bullets for most of the problems
that ail us today,” Jonas said. “Diabetes,
immune-system disorders, chronic pain,
cancer. Our illnesses are complex, and we
need to approach them in more compre-
hensive ways. We try to identify drugs
that will eliminate disease. Yet the way
we go about delivering those agents—the
interaction between doctor and patient,
for example—often has a bigger impact
than the agent we focus on. More than
the drug and more than the surgery. And
that has been collectively called the pla-
cebo effect.”

he headquarters of the Food and
Drug Administration, situated on
a campus called White Oak, on the far
edge of Silver Spring, Maryland, seems
as close to the rest of the federal medi-
cal establishment as it is to Pluto. There
is no Metro to White Oak, and it takes
half an hour to drive from the sprawling
campus to the National Institutes of
Health, in Bethesda. The F.D.A.’s
physical isolation belies its position as
the nation’s principal regulator of con-
sumer products. No drug is sold with-
out the agency’s approval. There will be
no prescriptions for any placebo, either,
unless clinical trials have demonstrated
its effectiveness to the satisfaction of
the F.D.A.
“One of the absolutely fundamental
problems that we have is the use of the

34 THE NEW YORKER, DECEMBER 12, 2011

term ‘placebo, which does nobody any
good,” Robert Temple told me, echoing
a complaint made by virtually every-
one who deals with the subject. Temple,
who has for many years run the F.D.A’s
drug-evaluation department, is an owlish
man with a short, thick mustache and cir-
cular glasses. His office is so filled with
towering stacks of files that, after you
enter, it takes a moment to find him. “Just
because something is called a ‘placebo
eroup, ” he said, “everyone assumes that
what happens in that group is a result of
the placebo effect. And that is absolutely
not true.”

Temple, who has worked at the
F.D.A. for four decades, rarely makes a
decision without angering somebody. He
has been regarded as a meddlesome reac-
tionary by H.1.V. activists and others
who insist that drugs be released more
rapidly. The more conservative medical
establishment frequently accuses the
agency of endorsing the wishful thinking
of drug manufacturers. And to the large
and growing community that supports
alternative approaches to medicine Tem-
ple is Dr. No.

Temple said that he understands why
placebos attract people who become frus-
trated when science fails to provide
definitive answers. “The persistence of
what people believe will save their lives as
opposed to the evidence is staggering,” he
said. “So people are talking about using

placebos as drugs. But I have no idea what
that means in practical terms. How would
it work?” Tantalizing hints and possible
effects are not data, and Temple says there
are no data that would suggest that place-
bos are drugs. There are several studies,
though, that illustrate the basis for his
skepticism.

A placebo effect is commonly ob-
served during trials of blood-pressure
medications. To qualify for such studies,
subjects are supposed to have blood pres-
sure that exceeds a hundred and forty
over ninety in at least one of the two
measurements. “As soon as somebody
enters those studies, his or her blood
pressure falls an average of five or six mil-
limetres of mercury,” Temple said. “That
is significant, but it is not a placebo re-
sponse, and it is not a response to being
in the study. It is often the result of doc-
tors’ inflating readings—of rounding up.”
Ifa person's blood pressure is a hundred
and thirty-eight over eighty-eight, for ex-
ample, investigators will often include
him. “When you use an automatic blood-
pressure cuff to establish a baseline for
these kinds of studies, the entire placebo
effect vanishes,” Temple said.

When a drug (or a placebo) is under
study, subjects are usually divided into two
groups. Neither group knows exactly what
it is getting (nor do the doctors), but one
group generally receives the drug and the
other a placebo. “There is a better way,”
Temple said. “If you want to see if there is
a placebo effect, use three arms in a drug
trial, not two. Tell them, ‘Some of you will
be getting a drug, some will get a tablet
that looks like a drug but is nothing but a
sugar pill, and some of you will get noth-
ing at all’

“It seems to me,” he went on, “that if
there is any substantial placebo effect,
there ought to be a difference between the
group that knows it’s getting nothing and
the group that doesn’t know it’s getting
nothing. If there is no difference, then
what are we talking about? Because it’s
not a placebo effect.”

It turns out that there have been many
trials of the type Temple mentioned. In
2001, the Danish epidemiologist As-
bjorn Hrébjartsson, of Copenhagen’s
Nordic Cochrane Center, along with his
colleague Peter Getzsche, published a
systematic review of a hundred and four-
teen clinical trials that compared patients
who received a placebo with subjects who

HOUSE_OVERSIGHT_029929
"
IMAGES-005-HOUSE_OVERSIGHT_018622.txt,"Similarly, there are one or two men in my life that I'm attracted to but don't want a sexual
connection with at all. So I try not to see them unless I feel inoculated: I don't hang out
with them unless I'm sure I can distract myself with my feelings about another man.

A lot of polyamorists say that ""love is infinite,” that we can love lots of people, etc. I
agree with this in theory -- but there's also a polyamorous saying that ""While love may be
infinite, time is not."" And hormones aren't infinite, either. I've learned my hormonal
reactions, I've seen myself get imprinted by people... I've seen myself develop feelings
and fantasies for one guy that made me 100% immune to another hot guy's charms.

Do I have perfect self-control? Absolutely not. That's why I'm trying to influence my own
choices so carefully. I know that choice plays a huge role when we build relationships.
Choosing to commit is arguably as big a relationship factor as instinctive chemistry.

... Arguably.

te OK ok

When I first got to college many moons ago, my roommate came from a family of
immigrants with a tradition of arranged marriages. She and I stayed up late one night,
perched on our dorm room mattresses, and I listened in fascination while she told me that
her father wanted her to marry a man of her father's choice, rather than her own.

""I'm not sure whether I'll do it,"" she said. I watched her wave a hand airily. I was
mesmerized by her casual acceptance of a custom that struck me as barbaric. ""I mean,""
she said, ""I'm cool with this guy that my dad's found for me. But I don't know if we're
that cool. On the other hand, I can't deny the advantages of arranged marriages.”

""Advantages!"" I cried. I was so young... (Okay, I'm still young.) ""What do you mean,
advantages?!""

""Arranged marriages are more stable,"" she said. ""Much more stable. I'm not sure I'd ever
want to marry for love. That shit goes up in smoke.”

From what I understand, there have even been studies about this: that people in arranged
marriages report being quite happy, quite stable.

I've gotten the it's-not-passion-that-makes-a-successful-marriage message before, of
course -- often from super-white, super-American Americans. For example, there's that
infamous 2008 article ""Marry Him: The Case For Settling For Mr. Good Enough."" The
article is sure to send any woman roughly my age into a panic. It's made enough of an
impression that I still have conversations about it with other women my age -- almost
four years after its debut.

I don't like the Settling writer's attitude. She's written with horror and anger about S&M
in other venues, for example; and the whole Settling article has a generally conservative
bent. But she's articulating some real feelings and important thoughts, and while I don't
agree with all of them, I do agree with some. At one point, analyzing television, she notes
that:

While Rachel and her supposed soul mate, Ross, finally get together (for the umpteenth
time) in the finale of Friends, do we feel confident that she'll be happier with Ross than

HOUSE_OVERSIGHT_018622
"
IMAGES-003-HOUSE_OVERSIGHT_016040.txt,"Russian Dolls
“Great fleas have little fleas upon
their backs to bite em.

And little fleas have lesser fleas,
and so ad infinitum.

And the great fleas themselves, in
turn, have greater fleas to go on.

While these again have greater
still, and greater still, and so on.”

Augustus De Morgan

HOUSE_OVERSIGHT_016040
"
IMAGES-010-HOUSE_OVERSIGHT_029097.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
>

>
>

>

> ae:

= 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
"
TEXT-001-HOUSE_OVERSIGHT_031659.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 2/8/2017 9:53:21 AM 
To: Larry Summers 
Subject: Re: 
Importance: High 
recall ive told you „ i have met some very bad people „ none as bad as trump. not one decent cell in his 
body.. so yes- dangerous 
On Wed, Feb 8, 2017 at 12:03 AM, Larry Summers wrote: 
It's ok. 
He didn't wreck world and avoided scandal. 
What does Ruemmler say re his attitude towards women? 
Sent from my iPad 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
On Feb 7, 2017, at 1:30 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
your man of the people 
http://www.usatoday.com/story/news/nation-now/2017/02/07/president-barack-obama-kiteboards-horses-
around-richard-branson-epic-vacation/97592260/ 
On Mon, Feb 6, 2017 at 9:17 AM, Larry Summers < 1> wrote: 
Yes. In NYC actually. 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at 
Follow me on twitter glhsummers 
www.larrysummers.com 
On Feb 6, 2017, at 8:14 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
speak 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 
HOUSE OVERSIGHT 031659 
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 031660 
"
IMAGES-002-HOUSE_OVERSIGHT_013571.txt,"enormously rich and logically consistent intellectual framework from within which to
characterize macroscopic behavior composed of unknown molecular mechanisms.
Ideas about entropy grew out of William Thomson's (a.k.a Lord Kelvin)
thermodynamic laws about energy conservation and its allowable transformations.
Later Clausius decomposed the energy into that which was available for mechanical
work, called work-content, and that which was not, called transformation content.
He referred to the transformation content, a reflection of what changes in the
internal order properties of the system that occurred as a concomitant of changes in
energy and heat, as the entropy.

Rudolph Clausius added the word entropy as a thermodynamic property to
the conceptual armamentarium of theoretical physics in about 1865. This followed
the earlier work of the French engineer, Nicolas Leonard Sadi Carnot, who was
trying to develop a theoretical framework within which efficiencies in heat-

generating engines might be understood. It implicated positive, > 0, changes, d, in
entropy, S, with changes in time, ¢, .e. “ > 0, entropy is increasing in time, as a

concomitant of the inevitable mechanical inefficiencies in an energy driven system.
The resulting losses in the form of wasted energy show up as increases in
molecular motion, which could be estimated from the increases in heat. Wasted
energy dissipated as heat increases the amount of random motion and volume
occupied by the surrounding molecules in physical processes involving heat,
pressure, vaporization, condensation and work; all elements of that era’s dominant

physical metaphor, the steam engine.

The highly developed, multifaceted, often quite abstract formal
characteristics of the inferred property, entropy, prevent glib definitions and
generalizations. In the context of Kelvin-Clausius theory, the entropy of a closed
system will remain the same if it is isolated from any matter or energy exchanges
with the environment. If heating a system such that the change, d, in heat, Q, is
positive, i.e. dQ > 0, it experiences a rearrangement in its microstructural motions,
but the temperature is left unchanged. The (inferred) entropy, S, increases (i.e., dS

> Q) as the ratio of change in added heat, dQ, over the unchanging, absolute

71

HOUSE_OVERSIGHT_013571
"
IMAGES-012-HOUSE_OVERSIGHT_032520.txt,"From: Lawrence Krauss

Sent: 3/22/2017 12:25:56 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Attachments: image002.png

Importance: — High

sorry.. all SHOW.. he is a fucking showman.. a carnival huckster.. this, and the military budget and health care
are all show... no substance.. just the ‘biggest ever’.. for a guy with small hands..

On Mar 22, 2017, at 4:46 AM, Lawrence Krauss ~~  § wrote:

All shoe. This is not supporting science. It is all about the size of the rocket for him. All this will do is give him
glory and not contribute to science.

Lawrence M. Krauss

Director, The Origins Project at ASU

Foundation Professor

School of Earth & Space Exploration and Physics Department

Arizona State University, P.O. Box 871404, Tempe, AZ 85287-1404
Research Office: 480.965.6378, Assistant
Origins Office i

origins.asu.edu | twitter.com/Ikrauss1 | krauss.faculty.asu.edu

<DA866543-7401-4A5A-8E50-FD32E33A50EC.png>
Sent from my iPhone

On Mar 22, 2017, at 5:41 AM, jeffrey E. <jeevacation@gmail.com> wrote:

https://www.washinetonpost.com/news/speaking-of-science/wp/2017/03/2 1/trump-signs-nasa-bill-aimed-at-

landing-on-mars/?utm_term=.64eb9bf54e09

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_032520
"
IMAGES-011-HOUSE_OVERSIGHT_031291.txt,"From: Thomas Jr., Landon

Sent: 11/18/2016 4:38:21 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Duke Buchan III

Importance: — High

This guy apparently is constantly texting Trump/Trump. Have you heard of him?
http://hginvestors.com/?page_id=10

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_031291
"
IMAGES-003-HOUSE_OVERSIGHT_014657.txt,"Case 1:15-cv-07433-RWS Document 539 Filed 01/06/17 Page 6 of 7

37. Attached as Exhibit JJ (filed under seal) i 7
a
et

38. Attached as Exhibit KK (filed under seal) i i
a
Fe

39. Attached as Exhibit LL is a true and correct copy of the Victims Refuse Silence, Inc.

Articles of Incorporation dated December 23, 2014, GIUFFRE001064-5.

40. Attached as Exhibit MM (filed under seal) is
CSS
a

I declare under penalty of perjury that the foregoing is true and correct.

Executed on January 6, 2017.

s/ Laura A. Menninger
Laura A. Menninger

HOUSE_OVERSIGHT_014657
"
IMAGES-009-HOUSE_OVERSIGHT_027149.txt,"Sender: e:jeeitunes@gmail.com

Time: 02/17/17 10:57:59 AM (509050679)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 909A907C-91DF-4D4A-87A1-526CC77DASA7T

Message: Yes

sender:

Time: 02/17/17 10:58:21 AM (509050701)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 10C836CB-0099-41A9-8 9DE-6652C184B154

Message: Will do

sender:

Time: 02/17/17 11:33:43 AM (509052823)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: D40D24CF-CO04D-4426-97A5-10C1E8602C8A

Message: Free?

Sender: e:jeeitunes@gmail.com

Time: 02/17/17 11:34:33 AM (509052873)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 2892F51D-4FBD-47CC-8644-26284FDAD263

Message: 10 minutes

Time: 02/17/17 11:45:27 AM (509053527)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: C36FO11C-l1EAA-49C1-95FA-B413F50789F8

Message: Have another call in 15 minutes

Time: 02/17/17 11:45:40 AM (509053540)

HOUSE_OVERSIGHT_027149
"
IMAGES-004-HOUSE_OVERSIGHT_017158.txt,"4.2.12
WC: 191694

Chapter 4: Beginning my life as an academic—and its changes over time

I moved to Cambridge with my wife and two sons during the late summer of 1964. We rented an
apartment, first in Brookline and a year later in Cambridge.

I began my teaching career at Harvard at the age of 25. Some of my students were older than I
was, and a lot more experienced. I was called the “Boy Professor.” It was intimidating and

scary.

Preparing for classes that I had never before taught was a full time job. When I began teaching in
1964, the two “best” teachers were reputed to be Clark Byse and Ben Kaplan. I wanted to learn
from the best, so I asked them if I could sit in on some of their classes to observe their teaching
techniques and styles. They both refused. Professor Kaplan asked me, rhetorically, whether I
“allowed people to watch while you make love with your wife?” I replied, “of course not.” He
smiled and said “well, I make love with my students and don’t want anyone watching.” I was
tempted to respond that if I had 160 wives and made love to them all at once, I wouldn’t even
notice if people watched, but I accepted his rebuke and had to figure out how to teach based on
trial and error. There were no classes at Yale Law School on how to teach law—and no
instruction books. For the first several years I did nothing but teach and write. It was a full time
job, and I had no time for cases or other outside activities. That was soon to change, but not until
after I learned how to be a professor.

My first assignment was to teach the required first year course in criminal law. On my first day of
teaching, I encountered 160 eager faces. The men were dressed in shirts and ties; the handful of
women wore skirts. The teaching style of the day was Socratic, with the teacher posing difficult
hypothetical questions based on cases the students were assigned from a case book. The
“Socratic Method” came naturally to me because of my Talmudic background and argumentative
nature. Right from the beginning I sensed that the traditional case books did not give the students
an appropriate balance between the theory of law and its real world practice. I decided to write
my own case book, along with my criminal law mentor at Yale, Joseph Goldstein. I also decided
to supplement my case book on a weekly basis with materials about contemporaneous
developments in the law. My goal was to keep the students current while also preparing them to
practice, teach, judge or legislate about criminal issues until the end of their careers a half century
hence. I also wanted to introduce my students to other disciplines—psychology, sociology,
economics, biology, literature—that would enrich their lives as lawyers. It was a daunting task,
but one that I approached with enthusiasm and eagerness. I rejected any sharp distinction
between “theoretical” and “practical” approaches to teaching, believing that theory must be tested
by practice, and that practice should be informed by theory. To this day, I bring my practice into
the classroom and my theory into the courtroom.

I immediately loved teaching, particularly the Socratic exchange with my students. But I noticed
that even though several of my students were older than me (William Bennett was among them),
many of them were intimidated by the fact that I was the Professor. The “Paper Chase”
professors were still the rule at Harvard and students were terrified of making a mistake. I
wanted very much to loosen up the students and so I decided on a ploy. About a month into the

0 Harvard Law Record, October 22, 1964, p. 3

71

HOUSE_OVERSIGHT_017158
"
IMAGES-007-HOUSE_OVERSIGHT_023045.txt,"""Trump’s relationship with Deutsche Bank has not always been amicable; in November 2008, he had difficulty
making payments on a $640 million Deutsch Bank loan — $40 million of which he guaranteed personally — he
took out to finance the construction of the Trump tower in Chicago.”
https://themoscowproject.org/collusion/trump-sues-deutsche-bank-3-billion/

in july , miraculously , rybololev ve buys the house for roughly the same"" 40 plus million dollar"" profit ""

https://www.washinetonpost.com/news/worldviews/wp/2017/08/24/the-russian-diplomat-found-dead-in-his-
ool-in-sudan-is-the-seventh-to-die-since-november/?utm term=.77b0a287fbl 1

Joe Recarey dies injune of 18. same m.o. ?

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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destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_023045
"
IMAGES-008-HOUSE_OVERSIGHT_025317.txt,"a

espn.com / Zach Lowe Zach Lowe (@ZachLowe_NBA) is a senior
writer for ESPN Digital and Print. Kevin Durant was never supposed to be
on the Golden State Warriors. It was an...

For Emma Gee, being the only out
LGBTQ athlete at BYU is complicated

HOUSE_OVERSIGHT_025317
"
IMAGES-003-HOUSE_OVERSIGHT_015549.txt,"20

al

22

23

24

25

N THE CIRCUIT COURT OF TH
JUDICIAL CIRCUIT IN
BROWARD COUNTY, F

CASE NO. CACE 15-0

BRADLEY J.

iDWARDS and PAUL G. CAS

E

Plaintiffs/Counterclai

VS.

ALAN M. DERSHOWITZ,

Defendant/Counterclaim

KE SEVENTEENTH
AND FOR
LORIDA

00072

SELL,

m Defendants,

Plaintif

VIDEOTAPED DEPOSIT

PAUL G. CASSEL

TAKEN ON BEHALF OF THE

DEFENDANT

VOLUME I, PAGES ]

to 15]

Friday, October 16

1:33 p.m. - 4:31

, 2015

p.m.

110 Southeast 6th
110 Tower - Suite
Fort Lauderdale, Flori

Theresa Tomaselli,

Street
1850
da 33301

RMR

ESQUIRE

soLUTtIONS

HOUSE_OVERSIGHT_015549
"
IMAGES-004-HOUSE_OVERSIGHT_018280.txt,"we consider what not to do. The first approach proposes something known
appealingly enough as “Smart Power.”5” The concept was summarized most sharply
by President Obama in 2014, when he said American policy ought best be guided by
this tight precept: “Don’t do stupid stuff.5®” And while it is hard to disagree with this
sort of charming, solipsistic formulation — there’s not a long list of politicians
supporting a strategy of “Do stupid things”? - “Smart Power” is no more a foreign
policy vision than “Good Weather’ is a strategy for farming. It suggests in some way
there is no need for a strategy at all. Faced with a problem, just make a smart
decision. “I don't really even need George Kennan right now,” Obama remarked at
one point during his presidency, dismissing the need for a strategist of real stature -
and, by implication, the need for any strategy at all.5°

Such a stance reflects an instinct that the great strategic question of our day — the
future — has pretty well been worked out. In such a view of history, all we need to do
is not screw this up too much. The root of this idea is an absence of a long view of
history and a discomfort I think about the application of cold power. There’s a
misplaced confidence at work here, an assurance that American-style power, our
model of politics and economics, is the best, final and only answer to the question of
how the nations of the world might be best organized. Americans need, in this
telling of history, only patience. The world will catch on. And | suppose that if you
grew up in the United States after World War Two, such a vision of the world
certainly would be consistent with your own experience. The problem is that sucha
comfortable posture is at odds with nearly any book of history you might pick up,
from The Peloponnesian Wars to Churchill's The Hinge of Fate, all of which will
remind you in the most violent terms that liberty and freedom demand struggle and
defense; that epochal changes come whether we want them or not. Also that nations
that look invincible can find themselves nearly unwound in an historical instant.
Great Britain mastered the globe in 1937; three years later she was gasping for air;
three decades later she was an afterthought. “Freedom is the sure possession of
those alone who have the courage to defend it,” Pericles told his Athenian audience
nearly 2500 years ago in as they mourned a full year of war-dead sons and fathers -—
and no peace yet in sight. Or, Churchill, famously: “Never, never, never, never give
up.”6! We should be embarrassed to hold “Don’t do stupid things” against these
mottos.

Admiral Hyman Rickover’s famous advice as he surveyed the nuclear navy he’d built
in the last century has it about right at every level: “To find meaning in life one must

57 The first approach: Joseph S. Nye, Jr, “Get Smart”, Foreign Affairs, July/August
2009

58 The concept was summarized: Jeffrey Goldberg, “Hillary Clinton: ‘Failure’ to
Help Syrian Rebels Led to the Rise of ISIS” Atlantic Monthly, Aug 2014

59 “IT don’t really even need”: David Remnick, “Going the Distance: On and off the
Road with Barack Obama”, The New Yorker, January 27, 2014

60 “Freedom is the sure possession:”

61 Or Chuchill:

48

HOUSE_OVERSIGHT_018280
"
IMAGES-003-HOUSE_OVERSIGHT_014864.txt,"Bank of America
Merrill Lynch

This material was prepared by Sales personnel of Bank of America Merrill Lynch and is subject
to cine: terms available at the following link:

alten einer

Disclaimer: https://markets.ml.com/disclosures/ir?id=Knqg3 HJgGkM%3d

This message, and any attachments, is for the intended recipient(s) only, may contain information that is
privileged, confidential and/or proprietary and subject to important terms and conditions available at
http://www. bankofamerica.com/emaildisclaimer. If you are not the intended recipient, please delete this
message.

HOUSE_OVERSIGHT_014864
"
IMAGES-009-HOUSE_OVERSIGHT_028291.txt,"THE HOUSE OF THE NOBLEMAN
CURATED BY WOLFE VON LENKIEWICZ & VICTORIA GOLEMBIOVSKAYA

PRESS CLIPPING (INTERNET)

http://www.foldgallery.com/cgi-bin/mail.cgi/archive/fold/20101011025541

PHYSICAL PAINTING REMINDER

Simon Callery

Fold Gallery London would like to invite you to the Physical Painting private view this Tuesday evening.

The gallery will be running special extended opening hours this week, we will be opening Wednesday 13th to
Sunday 17th from 12 - 6pm.

To coincide with the show at Fold Gallery one of Callery's large-scale paintings will also be on display in The
House Of The Nobleman exhibition. Located at 2 Cornwall Terrace in Regents Park and just across from Frieze Art
Fair, this show includes works by Picasso, Poussin and Cezanne.

For press on 'The House Of The Nobleman’ Exhibition see below link

http://www.theartnewspaper.com/articles/%C2%A36m-worth-of-Picassos-to-go-on-show-during-Frieze/21495

To book a viewing for 'The House Of The Nobleman' Exhibition see below link

http://www.cornwallterrace.co.uk/boswallhouse

11

HOUSE_OVERSIGHT_028291
"
IMAGES-005-HOUSE_OVERSIGHT_018811.txt,"Summary of Salient Facts and Conclusions

=

Summary of Salient Facts and Conclusions

Property Name IGY American Yacht Harbor Marina

Address 18A-1, 18-B1,18-B and 18-W Remainder Estate Smith Bay
East End Quarter, St. Thomas, Virgin Islands

Property Type Mixed Use - Marina

Owner of Record IGY-AYH ST. Thomas Holdings, LLC

Parcel ID 1-07702-0135-00, 1-07702-0134-00, 1-07702-0133-00, and
1-07702-0198-00

Legal Description Parcel Nos. 18A-1 Remainder, 18B-1 Remainder, 18B

Remainder Estate and 18-W Estate Smith Bay, Nos. 1, 2 and
3 East End Quarter, St. Thomas, U.S. Virgin Islands

Land Area 2.76 acres; 120,226 SF
Number of Units 105
Gross Building Area 72,808 SF
Rentable Area 48,652 SF
Percent Leased 85%
Year Built; Year Renovated 1992; N/A
Zoning Designation W-1, Waterfront - Pleasure
Highest and Best Use- As if Vacant Marina oriented commercial use
Highest and Best Use - As Improved Continued marina and commercial use
Exposure Time; Marketing Period 12-24 months; 12-24 months
Effective Date of the Appraisal November 25, 2015
Date of the Report December 15, 2015
Property Interest Appraised Leased Fee (Going Concern)
Market Value Indications

Cost Approach Not Used

Sales Comparison Approach Not Used

Income Capitalization Approach $24,360,000
Market Value Conclusion* $24,360,000

*Values expressed in United States Dollars

The values reported above are subject to the definitions, assumptions, and limiting conditions set forth in the accompanying report of which this
summary is a part. No party other than Banco Popular de Puerto Rico may use or rely on the information, opinions, and conclusions contained in

the report. Itis assumed that the users of the report have read the entire report, including all of the definitions, assumptions, and limiting
conditions contained therein.

IGY American Yacht Harbor Marina

HOUSE_OVERSIGHT_018811
"
IMAGES-001-HOUSE_OVERSIGHT_011135.txt,"p, from now on, and refer to gross realized output Y, gross alone.

Positive cash flow is that less plowback from revenue. This can be notated

Fo= Y gross— p.,, = Y, + D, — Poy? (A3.3)
where p.,, is plowback. Negative cash flow is transfer in, notated t_. Thus
F =t_ and F=F -F =¥,+D,—p,y,—T_ (A3.4)
Cash flow F is the difference
F=F -F =Y,+D,-p,-T_. (A3.5)

Gross output is gross realized output plus unrealized (or proprietary or self-

invested) output. This can show as

=Y gross+ Y, =Y,+D,+Y, . (A3.6)

gross

Think of the subscript s as meaning saved or self-invested. As all output is either

realized or unrealized, we have
Y=Y+Y..
sp

The terms saved, self-invested, unrealized and proprietary will be taken as

interchangeable.

APPENDIX A: The Argument in Notation 3/7/16 9

HOUSE_OVERSIGHT_011135
"
IMAGES-002-HOUSE_OVERSIGHT_012684.txt,"From:

Sent: 2/17/2011 6:19:01 PM
To: jeevacation@gmail.com
Subject: Trump & Patricia Kluge

Importance: — High

Trump in talks to buy socialite Kluge’s Charlottesville vineyard
and estate

By Annie Gowen and Steve Yanda

Washington Post Staff Writers

Wednesday, February 16, 2011; 10:47 PM

Embattled Virginia socialite and winemaker Patricia Kluge may have found a white knight to preserve her Charlottesville
empire - real estate mogul Donald Trump.

Trump's business adviser said Wednesday that Trump was negotiating to buy not only Kluge's grand estate, Aloemarle
House, which a bank foreclosed on in January, but all of Kluge's former real estate holdings outside Charlottesville near
Thomas Jefferson's Monticello estate.

Those include 200 acres of land adjacent to the estate that once had a nine-hole golf course designed by Arnold Palmer,
a 900-acre vineyard and a failed real estate develooment where Kluge had planned to market luxury ""farmettes"" with their
own grapevines.

Leslie Goldman, a Washington-based adviser to Trump, said it would be ""premature to speculate"" what Trump had
planned for the area, but said the land has ""significant historical value and potential for development.""

""Obviously, the more acreage, the more pieces you acquire, the more possibilities there are,"" he said.

Trump has already made forays into Virginia real estate. In 2009, he purchased a 600-acre golf club along the Potomac
River in Loudoun County and renamed it the Trump National Golf Club. He raised the ire of local environmentalists last
summer after the club removed hundreds of trees that it claimed threatened the shoreline.

Trump's representative appeared at a foreclosure auction of Kluge's large estate on the courthouse steps in downtown
Charlottesville Wednesday morning, where a crowd of about 50 lawyers and curiosity seekers had gathered.

In the past year, Kluge's travails have become well-known around Charlottesville, where over the last two decades the
British-born socialite has cut a glamorous - and sometimes controversial - figure.

In 1999 she founded what became a well-respected vineyard on land around her grand house, which she had received as
part of a high-profile divorce settlement in 1990 from John Kluge, the late media mogul who was once the country's richest
man.

Kluge Estate Winery and Vineyard won accolades for sparkling wines - served at the White House and at Chelsea
Clinton's wedding last summer - and a blended red called New World Red. Kluge and her third husband, retired IBM
executive William Moses, worked to promote not only their own wine brand but the growing Virginia wine industry as a
whole.

But in the past two years, following some aggressive expansion of the winery and the failure of the housing development,
Kluge fell upon hard times. Credit problems forced her to sell off her jewelry and extensive collection of art and antiques
last year. She lost the vineyard at a foreclosure auction in December.

Kluge had initially tried to sell Albemarle House - which the Sotheby's listing calls ""one of the most important residences in
the United States since the Golden Age"" - for $100 million, but when no buyer came forward the price was ultimately
slashed to $24 million. The eight-bedroom home has its own movie theater, wine grotto, swimming pool and helipad.

At Wednesday's auction, Bank of America, Kluge's creditor, took full ownership of the property with a bid of $15.26 million.
But Trump holds what the lawyers called a ""right of first refusal"" to buy the property at a later date.

Kluge and Moses declined to comment directly on yesterday's events, but both have said they have been working
diligently with their lawyers over the last several months to help save their business.

The Trump organization had been working closely with Kluge and Moses on the deal, but how the partnership will play out
- if they would have a future role at what would be Trump's vineyard - remained unclear Wednesday.

""They've been working together with the objective of trying to preserve the vineyard for the benefit of the Virginia wine
industry,"" Goldman said. ""If it all comes together, it may provide them an opportunity to continue to stay involved in their
life's work.""

Yanda reported from Charlottesville. Staff researcher Magda Jean-Louis also contributed to this report.

HOUSE_OVERSIGHT_012684
"
IMAGES-005-HOUSE_OVERSIGHT_020356.txt,"204

“T don’t know him, but I know someone who does,” he answered. “Why are you interested
in seeing Kucherena?”

I told him that I wanted to speak to him about Snowden but that I had been unable to arrange
a meeting.

“That’s no problem,” he said, raising his cell phone (which never left his hand.) He hit a number
the speed dial, and spoke rapidly in Russian (which I do not understand.) He cupped his hand
over the phone and asked how long I would be in Moscow.

After I told him that I was leaving on Friday, he spoke again in to the person on the other end.
“You will have an appointment on Thursday,” he said.

Later that afternoon Valentina, Kucherena’s assistant, called to say that Kucherena would be
happy to see me at his office at 6 PM on Thursday. I didn’t ask Lugovoy who he had called or
how this had happened. Clearly, whoever Lugovoy called had the power to arrange the meeting.
Power evidently works in unseen ways in Putin’s Russia.

Kucherena’s office was only two subway stops from the National hotel, and I arrived ten
minutes early. A receptionist showed me into a well-lit square room with an elegant table in the
center. There was a sumptuous basket of exotic fruit on the table and large portraits of
racehorses on the walls. Another door opened, and a tall, graceful woman came into the room
and introduced herself as “Valentina.” She was wearing a well-fitting black dress, striking jade
necklace and high heels. When she asked whether I would like anything to drink, it seemed more
like the prelude to an elegant dinner party than an interview about Snowden.

As Kucherena did not speak English, I brought Zamir along to translate for the conversation,
but Valentina also spoke very good English. She apologized for the delay in responding to my
requests, explaining that she received “thousands of requests” for interviews and did not have
time to answer them. When I asked how many were answered, she shrugged and said “not
many.”

At that moment, Kucherena entered with a jaunty step, a cherubic face and an untamed white
hair. He was wearing grey slacks, a partially buttoned cashmere polo sweater and a fully engaging
smile.

As [had learned from his entry in Wikipedia, he was born in a small village in the Soviet
Socialist Republic of Moldavia in 1960, and he had obtained his law degree from the All-Union
Correspondence Law Institute in 1991. He opened his own law firm in Moscow in 1995.
Kucherena’s well-known friendship with Putin evidently had not hurt his law practice. His clients
had included such well-connected defendants as Viktor Yanukovych, the overthrown president of
Ukraine in 2014; Grigory Leps, a Russian singer blacklisted by the U.S. for allegedly acting as a
money courier for a Eurasian criminal organization; Valentin Kovalev, a former Russian Minister

HOUSE_OVERSIGHT_020356
"
TEXT-001-HOUSE_OVERSIGHT_028485.txt,"From: Ehud Barak 
Sent: 4/23/2015 3:31:35 PM 
To: Epstein Jeffrey [jeeyacation@gmail.com] 
Subject: Fwd: Bill Clinton on Virtues of North Korean Nuclear Deal - History Repeats Itself 
Hi Jeff 
Subject: Bill Clinton on Virtues of North Korean Nuclear Deal - History Repeats Itself 
Fyi 
Best 
EB 
Check out this video on YouTube: 
http://youtu.be/6TcbU5jAavw 
Sent from my iPhone 
HOUSE OVERSIGHT 028485 
"
IMAGES-008-HOUSE_OVERSIGHT_026193.txt,"From:

Sent: 9/24/2017 10:31:28 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

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.? youneed rest. - !, I wanted you to know that If you think I should meet your
boss in New York , where there is less pomp Icandoso. / 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 <q 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
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, <i 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 iam here

On Thu, Sep 21, 2017 at 10:43 PM, {> wrote:

HOUSE_OVERSIGHT_026193
"
IMAGES-001-HOUSE_OVERSIGHT_011653.txt,"Reluctant though I’d been to leave the 401"" for the kirya, I had particularly
enjoyed the last year. I was promoted to Shai Tamari’s job, in charge of the
intelligence team for our military operations, when Shai left to command a tank
brigade. My office was no longer on the third floor, but in the underground
bunker, the bor. I was part of nearly all high-level planning meetings, often with
Motta, sometimes also including Peres. Almost everyone around the table was
older than me, and outranked me by some distance. Yet with my intelligence
brief, I was often the one with the most thorough command of the details.
Though still just a colonel, I’d risen through Sayeret Matkal. I knew the
planning process from the other side as well, having attended the same sort of
meetings, from the early 1960s, to present our operations. So I was often asked,
and always welcome, to weigh in on what would work, what wouldn’t, and
why.

My final year in the kirya also further cemented my relationship with Motta.
Though as chief of staff, he tended to keep a formal distance from all but his
fellow generals, he did seem to enjoy having me around. He even put me in
charge of a new department of my own. Not officially. The “department” was
strictly ad hoc, as was the name which Motta gave it: Mishugas. The Yiddish
word for craziness.

All army commanders, in all countries, receive their share of unsolicited
advice. But I can’t imagine any of them gets the number, or sheer range, of wild
suggestions which make their way to the Airya. Everything from levitation
machines, to ideas for making tanks fly. Motta didn’t have the time to read all
the letters, much less sit down with the self-styled inventors or sages who
showed up in person. Still, he couldn’t be sure that a jewel of an idea wasn’t
lurking inside one of them. As an insurance policy, he began sending all the
letters, and every supplicant, to me.

I never found the jewel. The most vivid memory I have is of a visit from a
former soldier in Shaked, Israel’s Negev reconnaissance and tracking unit. He
had taken up meditation, and the study of ancient civilizations. Fresh from a
period of contemplation in the desert, he arrived in my office with a pamphlet
he’d written. It was about special-forces strategy and training, as practiced eight
centuries earlier, in the time of Genghis Khan.

I listened for nearly an hour, enjoying his enthusiasm, the history lesson, and
the simple weirdness of it all. I did check his facts afterwards. If nothing else, he
proved an assiduous student of the Mongols. He explained to me that in their
largest battles, involving tens of thousands of troops, they would designate a

182
HOUSE_OVERSIGHT_011653
"
IMAGES-005-HOUSE_OVERSIGHT_020430.txt,"278

10.

11

[2

13.

14.

iS

. “He made contact with a...

CHAPTER TWENTY-EIGHT

Snowden’s Choices

22

“He also had access...” —Author’s interview with Source A

“Presidential Policy Directive 20...”—Greenwald. op.cit. p. 75

“Trace the theft of...”—Author’s interview with Michael Hayden

“T had a special level...”-- Edward Snowden and Peter Taylor, “Are you a traitor,”
Transcript. BBC Panorama, October 15, 2015 (Aired on BBC October 10, 2015)

“Robert Hanssen changed positions...”—See Robert Hanssen, Appendix A

“In respect to China alone...”-- James Risen, “Snowden Says He Took No Secret
Files to Russia,” New York Times, October 17, 2013

“If things went wrong. ..”-- Edward Snowden and Peter Taylor, “Are you a traitor,”
Transcript. BBC Panorama, October 15, 2015 (Aired on BBC October 10, 2015)

“Gellman considered Hong Kong...”-- Barton Gellman, “Code name ‘Verax’:
Snowden, in exchanges with Post reporter, made clear he knew risk.” Washington
Post, June 9, 2013

“First priority was to...”—Greenwald. op.cit. p.49

“Snowden obviously knew this...”—Author’s interview with Tyler Drumheller

. “Snowden told the editor...”-- I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan

Rusbridger, the Guardian, July 18, 2014. http:/;Awww.theguardian.com/world/2014/jul/18/-sp-
edward-snowden-nsa-whistleblower-interview-transcript

. “MacAskill offered him the...” —The Snowden Saga. Op.cit.

“He applied for the job...” —Author’s interview with a former Booz Allen employee
who requested anonymity.

“He had also brought...”-- Edward Snowden and Peter Taylor, “Are you a traitor,”
Transcript. BBC Panorama, October 15, 2015 (Aired on BBC October 10, 2015)

29 co

Gellman considered Hong Kong...”-- Barton Gellman,
“Code name ‘Verax’: Snowden, in exchanges with Post reporter, made clear he knew
risk.” Washington Post, June 9, 2013

HOUSE_OVERSIGHT_020430
"
IMAGES-011-HOUSE_OVERSIGHT_032015.txt,"HOUSE_OVERSIGHT_032015
"
IMAGES-008-HOUSE_OVERSIGHT_024784.txt,"Or
>
A
“Bw
Plan
fon on

FunkSac

FunkSac

Denver, Colorado
www.funksac.com

FunkSac is a provider of compliant packaging
solutions for the medicinal and recreational
cannabis industry. The company has a com-
prehensive product line manufactured with
FDA-approved material and eco-friendly can-
nabis packaging solutions that are highly secure.
FunkSac retails its products to cultivators,
dispensaries and edibles manufacturers.

GFarmaLabs

Anaheim, California
www.gfarmalabs.com

GFarmaLabs is a producer of branded canna-
bis, cannabis-infused edibles, cannabis concen-
trates and vaporizer accessories. The company
produces pre-rolls, beverages, chocolate-based
edibles, honey, concentrate cartridges and injec-
tors. GFarmaLabs sells its products through
dispensaries in California and Washington. Its
products are marketed as being produced from
“100% indoor flower.”

148

Cannabis Investment Report | December 2017

Garden State Dispensary

Woodbridge, New Jersey
www.gardenstatedispensary.com

Garden State Dispensary is a medicinal cannabis
dispensary located in New Jersey. The company
produces its own medical cannabis and offers a
patient research and counseling program.

Gold Coast f aK hy

Extracts one ADIOS |

Los Angeles, California
www.goldcoastusa.com

Gold Coast Extracts is an extraction consultant
and. producer of branded cannabis concentrates.
The company provides extraction consulting
services to cultivators and concentrates pro-
ducers. It also produces an award-winning line
of branded cannabis concentrates in shatter and
wax form. The company’s products are sold in
dispensaries throughout California.

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024784
"
IMAGES-006-HOUSE_OVERSIGHT_020850.txt,"...Drilldown on USA Inc. Financials

e If entitlement programs are not reformed, USA Inc.’s balance sheet will go from bad to
worse
- Public debt has doubled over the last 30 years, to 62% of GDP. This ratio is expected to surpass the
90% threshold* — above which real GDP growth could slow considerably — in 10 years and could near
150% of GDP in 20 years if entitlement expenses continue to soar, per CBO.
- As government healthcare spending expands, USA Inc.’s red ink will get much worse if healthcare costs
continue growing 2 percentage points faster than per capita income (as they have for 40 years).

e The turning point: Within 15 years (by 2025), entitlements plus net interest expenses
will absorb all — yes, all — of USA Inc.’s annual revenue, per CBO

- That would require USA Inc. to borrow funds for defense, education, infrastructure, and R&D spending,
which today account for 32% of USA Inc. spending (excluding one-time items), down dramatically from
69% forty years ago.

- It's notable that CBO’s projection from 10 years ago (in 1999) showed Federal revenue sufficient to
support entitlement spending + interest payments until ZOG0E — 35 years later than current projection.

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

KP countries’ definition of government gross debt. For more information, see Reinhart and Rogoff, “Growth in a Time of Debt,” 1/10.
(@)E) www.kpcb.com USA Inc. | Introduction 17

How Might One Think About Turning Around USA Inc.?...

e Key focus areas would likely be reducing USA Inc.’s budget deficit and improving /
restructuring the ‘business model’...

— One would likely drill down on USA Inc.’s key revenue and expense drivers, then develop a
basic analytical framework for ‘normal’ revenue / expenses, then compare options.

Looking at history...

— Annual growth in revenue of 3% has been roughly in line with GDP for 40 years* while
corporate income taxes grew at 2%. Social insurance taxes (for Social Security / Medicare)
grew 5% annually and now represent 37% of USA Inc. revenue, compared with 19% in 1965.

— Annual growth in expenses of 3% has been roughly in line with revenue, but entitlements are
up 5% per annum - and now absorb 51% of all USA Inc.’s expense - more than twice their
share in 1965; defense and other discretionary spending growth has been just 1-2%.

One might ask...

— Should expense and revenue levels be re-thought and re-set so USA Inc. operates near
break-even and expense growth (with needed puts and takes) matches GDP growth, thus
adopting a ‘don’t spend more than you earn’ approach to managing USA Inc.'s financials?

Note: *We chose a 40-year period from 1965 to 2005 to examine ‘normal’ levels of revenue and expenses. We did not choose the most recent
40-year period (1969 to 2009) as USA was in deep recession in 2008 / 2009 and underwent significant tax policy fluctuations in 1968 /1969, so

KP many metrics (like individual income and corporate profit) varied significantly from ‘normal’ levels.
(@E) www.kpcb.com USA Inc. | Introduction 18

HOUSE_OVERSIGHT_020850
"
IMAGES-006-HOUSE_OVERSIGHT_021596.txt,"FD-515 (Rev. 12-19-06) Accomplishment Report e Date Prepared O/2: of
f 3

“Squad supervisor approval (Accomplishment must be reported and loaded into : Date Loaded
(please initial) ISRAA within 30 days from date of accomplishment) Date Loader’s Initials

Accomplishment involves:
(check all that apply)

Investigative Assistance or Technique Used

File Number 1, Used, but did not hetp 3. Helped, substantially
= = 2. Helped, minimali 4, Absolutely essential
Drugs E-mmM-ioxoez Pp y ly

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Rate FO IAT Rate FO IAT

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A. Complaint / Infermation/ Indictment

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For 6F, G, H-Include A Soil Judicial Outcome___ . PX
Information Date: or GF, G, H-Include Agency Co ° Amount $
Indictment Date: = Felony or 5 al Suspension: Years Months
Plea or Trial

B. Locate / Arrest State: Judicial District:

Cl Federat [JLocal {international -
Subject Priority. OA 1B Oc

K. Administrative Sanction Date:
Subject Description Code .
Type: Length:

G. U.S. Cade Violation

Required for sections A, B, F and J Suspension ([] Permanent
Locate Date: (Federal Only) : Debarment or
Avast Date: Title Section # Counts Injunction Year. Months

([] Subject Resisted Arrest
(1 Subject Arrested was Armed

L. Asset Seizure Date:,
Asset Forfeiture Date:
CATS # Mandatory ___
Circle befow one of the three asset forfeiture:

Admin, Civil Judicial, or Criminal

Cc. Summons Date:
(Federal [J Local
D. Recovery / Restitution / PELP X
(DFederal [Local [7 Intemational
Recovery Date:
Code * vy Amount $
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H. Sentence Date:

Sentence Type: e M. Acquittal! Dismissal/ Pretrial Diversion

(Circle one) Date:

Months___-_
Months___.

In Jail: Years

Suspended: Years.

N. Drug Seizures “Date:

Oi Court Ordered ((] Pretrial Diversion Probation: Years, Months____ Drug Code ° .
Code * v Amount $ Fines: $ iti Code
PELP Date: . Do not indicate $ in Section D
Code * v Amount $ |. Disruption/Dismantlement:

E. Hostages(s) Released Date:.

Disruption Date:
Released by: [[] Terrorist [7] Other

0, Child Victim Information
Child located / identified Date: b/ 20 oY

Buiving _ {Deceased

+ Dismantlement Date:
Number of Hostages:

Completion of FD-515a Side 2 Mandatory
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oO Subject related to an LCN, Asian Organized Crime (AOC), Italian Organized Crime (!0C), Runsian/Eastern European, Caribbean, or Nigenan Organized Crime Group -
Completa FD-515a, Side 1 Blocks A-E mandatory, F-H as appropriate.

oO Subject related to an OC/Drug organization, a VCMO Program Nalional Gang Stralegy target group, or a VCMO Program National Priority Initiative target group «
Complete FD-515a, Side 1 Blocks A-C only, 5

x Additional information may be added by attaching another form or a plain sheet of paper for additional entries. stig Ngo TD RIe

e See codes on reverse side, {SY

Y Requires that an explanation be attached and loaded into ISRAA for recovery over $1 m and PELP over $5 m, disruption, dismantlement, and drug seizures,

BIE - MU- [08062 ~ 13%

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HOUSE_OVERSIGHT_021596
"
IMAGES-007-HOUSE_OVERSIGHT_023910.txt,"164 Teaching Minds

evaluated regularly and evaluation is taught explicitly in business
school. Political scientists evaluate politicians and political systems.
Historians evaluate what makes governments, battles, cities, and a
range of other things successful. Architects and urban planners and
engineers worry about evaluation of what they propose and produce.
All of these people could combine to teach students how to evaluate.
This is very important part of functioning in any society.

First College Year Summary

It would be my contention that a freshman year made up of these
four processes, taught in four simultaneous courses that were designed
to relate to one another in various ways and at specific times, would be
a wonderful thing for teaching people how to think. The best of our
faculty could teach what they thought about to students, who now
would be ready to start to think rigorously. By the end of this first year,
students could begin to specialize, not in academic subjects just yet,
but in other processes that build on the conceptual processes.

SECOND YEAR IN COLLEGE
Let’s look at the analytic processes.
Analytic Processes

Diagnosis. Who does diagnosis? Doctors certainly. Lawyers cer-
tainly. All the people I mentioned above who are building models
need to figure out why their models may have gone wrong. Anyone
who manages people or large operations needs to figure out all the
time what has gone wrong. In fact, diagnosis is a critical part of nearly
every area of thinking and every area of work. Diagnosis needs to be
studied for its own sake. How do we do diagnosis in principle, no mat-
ter what the situation?

Diagnosis also needs to be examined in the various contexts in
which it can be applied. A course in diagnosis, taught by the entire fac-
ulty who do diagnosis regularly, showing real work and real situations
that they have had to handle, and coming after the first year, would
have two advantages. One, it could build on the basic conceptual

HOUSE_OVERSIGHT_023910
"
IMAGES-006-HOUSE_OVERSIGHT_020688.txt,"After giving an amazing performance in Chicago’s Civic Opera House back on November 17, 1955, opera singer Maria
Callas was served a court summons by U.S. Marshal Stanley Pringle and Deputy Sheriff Dan Smith for breach of contract.
Upon being presented with the document, Maria screamed “I will not be sued! I have the voice of an angel! No man can

sue me.” The singer was nicknamed “The Tigress” and vowed never to return to Chicago again.

#21 Young Osama

In this family picture taken in Sweden in 1971, the man second from the left seen in a brown shirt is no one else but
Osama bin Laden.

#22 Rajiv Gandhi

HOUSE_OVERSIGHT_020688
"
IMAGES-011-HOUSE_OVERSIGHT_030602.txt,"Date: Thursday, January 28 2010 02:46 PM
Subject: Re: Re:
From: Jeffrey Epstein <jeevacation@gmail.com>

To: Boris Nikolic i

iunderstand,, the ratio of run to leap is way too high

On Thu, Jan 28, 2010 at 9:41 AM, Boris Nikolic {i S wrote:

Just had mtg with Andrew. He is great.
Jee - i think that iwould trade davos for a good fashion week. Much more fun.

Sent from my AT&T Windows Mobile phone.

From: Jeffrey Epstein <jeevacation@gmail.com >
Sent: Thursday, January 28, 2010 11:39 AM

Subject: Re: Re:

hes great fun,

On Thu, Jan 28, 2010 at 5:34 AM, Boris Nikolic iii, wrote:

Thank you!

| heard that he is not that fun but itrust your judgement. It would be blast that you are here. | was just flirting with 22 years old
hot blond blue eyes mexican chick. It turns out she is with her husband. Did not have chance to check him out. But as we
concluded, anything good is rented ;)

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 Jn >
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.
lam meeting him as he has some questions. | do not need anything from him.

HOUSE_OVERSIGHT_030602
"
TEXT-001-HOUSE_OVERSIGHT_022816.txt,"23 
Date 
Aircraft Make 
and Model 
t 
Aircraft 
Identification Mark 
Points of Departure & Arrival 
Miles 
Flown 
Flight 
No. 
Remarks, Procedures, 
Maneuvers, Endorsements 
i\-)9 cAsz--6_ 
E.-6-nf3 
EGO 1""3 
LF?f3 
L 
C-,--115L't  
G-- tt sck 6 
Ni CIT.& 
1.1 
(--40 
.'(5 
'06x) 
13\  
n2 
Number 
of Landings 
t./l 
Aircraft Category... 
t  
133 1. Pi, nit.-
13.73-
kt 
1( 
1*(-2 
ILS`f 
rJ 
Lrf)-2_ 
it 
C 
It 
I 
\  
I=;)-<urK 
c1(3 j\jr 
R)CY. 
N  
rl1 
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6. 5 
tst3______ 
IS-c(c Lc-
1511(r, 
r. rLLj 
to  
Lpo 
G 
_ c;.L , 
Deul, • 113 te\-11:1, ki .00 S L.M 
_____V .> NN6ft?-t. , flu4v4v70 LA-kna. ri, c Lrwt 
ri(),Lqiug, 4LCI"" 
A 110\Y-- Le65 Rio) 1,1o"" 
\LID 50(1‘u ')c /)110t)(-': PW5 r.)1) L/r)-1- P.Abri 
kt_\\t Pt (.)s ())3c,v&,- 
114-\ 3-s7p,,+1.1:1-7.)(3:)[5(-31-13(1l.)(-2 
3 --‘;53.6:- ri • 
____MMIPMEIMM 
PR /1-  
LILA 5(4 6 ,f-)5 OLA: PIO ;DI 
,61.,___________________________________________________________ 
=lc's) 
et 
-1 
c--F) 
Oci 
1 \ 
I certify that the statements made by me on this form are true. 
Pilot's Signature 
L  
f 
Page Total 
/‘ 
5/ 
Amount Forward 
Total to Date 
6SS 3 
fr..D-ot)  
6S3B 
3 1 
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HOUSE OVERSIGHT 022816 
"
IMAGES-006-HOUSE_OVERSIGHT_020844.txt,"Introduction

if Dp
i USA Ince. | Introduction 5

About This Report

CB www.kpcb.com USA Ine. | Introduction 6

HOUSE_OVERSIGHT_020844
"
IMAGES-008-HOUSE_OVERSIGHT_024790.txt,"ACKRELL
CAPITAL
Meadow MEADOW

San Francisco, California
www.getmeadow.com

Meadow is a developer and provider of an on-de-
mand cannabis delivery-service application for
dispensaries. The company markets online and
mobile-ordering applications for dispensaries.
The web and mobile applications allow users
to access a menu of cannabis products for pur-
chase and direct-to-consumer delivery through

MiNDFUL M | ND?

dispensaries.

Denver, Colorado
www.bemindful.today

MiNDFUL is an operator of recreational and
medicinal cannabis dispensaries. The com-
pany operates five retail locations in Colorado
and a single location in Illinois. The company
sells flower, concentrates, edibles, topicals and
branded accessories.

154

Cannabis Investment Report | December 2017

Merry Jane MEREY JAW

Los Angeles, California
www.merryjane.com

Merry Jane is a digital media company focused
on the cannabis industry. The company’s web-
site provides commentary on recent events, pop
culture, business, politics and health-related
news. The company provides strain reviews and
information, as well as a dispensary locator.

MJ Freeway fo MJ FREEWAY

Denver, Colorado
www.mjfreeway.com

MJ Freeway is a provider of enterprise man-
agement software for the cannabis industry.
The company’s core solution is a software plat-
form for inventory and sales management to
track the seed-to-sale process in compliance
with state requirements. The software is used
by recreational and medicinal dispensaries,
infused-product manufacturers and cultivators.

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024790
"
IMAGES-006-HOUSE_OVERSIGHT_021582.txt,"s

x

Squad supervisor approval (Accomplishment must be reported and loaded into : Date Loaded _&
(please initial) ISRAA within 30 days from date of accomplishment)

“= | 12-19-06) * Accomplishment Report Date Prepared Ot Z (6)

Date Loader’s Initials

investigative Assistance or Technique Used
1. Used, but did not help 3. Helped, substantially

2. Helped, minimally 4, Absolutely essential
For Sub. Invest, Assist. by other FO(s) indicate A, B, C, D for corresponding FO

Drugs oO
A Fugitive O
O

Bankruptcy Fraud IAT Rate FO Rate FO 1a Rate FO IAT

Asst. FO(s)
A.B. CG. OD.

ELSUR/T.I | [RE ShowMoney |_|
Bl Eng.Tope ex. | “ME swatTeam ||
Legats Asst. | [MM Tech. Ag/Equip.| —_|
Evid, Purchase | | Phone Toll Rec

eran, |_|
eute-to |_|
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Fone |_|
[_[uc0-crovo | Foc tanonest | — flere |
[ise oie Exam] | [uco- croup] lvonrmitepes| [|

J. Civil Rico Matters Date:
Also complete “Section G”

Other Civil Matters Date:

Fort Support Pro]
CXxSICTD

IAT T

Computer FraudiAbuse Lab. Field Sup | | — [uco-NatBack] EI Vict-witn Coor

nin roar ramet CI | __|PenRegisters |  JBMENcAvcrvicaP| NN 10 Wanted Fiyer

Money Laundering Fpimistover | ae ,

Sub Invest Asst by FO(s) |_| over | [MMMBGrinvNS Intel Ass] [NNN SARs
[Consen Mon. | MMM Poiyoraph BAM Crisis Neg.- Fed .

Evsur/Fisc| | |Search Warrant] [MMMNGrisis Nop Locat| NNN Asset Fort Prog
TFOS/CTD

F, Conviction
7 Federal ClLocat {2 Intemational
Conviction Date:

A. Complaint / Information/ Indictment

(C)Federat [JLocal {1 Intermationat
Complaint Date:

Check if Civil Rico Complaint C1 Subject Description Code *(_—_) SITE arene
, —a ee Eni Judicial Outcome____ OX
Information Date: or nciuce Agency Code Amount $
Indictment Date: = ated ad owe Suspension: Years Months
ea or tia

B. Locate / Arrest State: Judicial District:

(Federal [Local [International -
Subject Priority: TIA 08 Oc

K. Administrative Sanction Date:
Subject Description Code a
Type: Length:

G. U.S. Cade Violation

Required for sections A, B, F and J Suspension [[] Permanent
Locate Date: (Federal Only) q Debarment or
Arrest Date: Title Section # Counts Injunction Year Months

C1 Subject Resisted Arrest
(J Subject Arrested was Armed

L. Asset Seizure Date:.
Asset Forfeiture Date:
CATS # Mandatory —_E
Circle below one of the three asset forfeiture:

Admin, Civil Judicial, or Criminal

Cc. Summons Date:
(Federal [] Local

. Recovery / Restitution / PELP X
(Federal ([Jlocal [1] international
Recovery Date:

Code * v Amount $

Code*. sv =Amount $

Restitution Date:

Do not indicate $ value in Section D

H. Sentence Date:

Sentence Type: . M. Acquittal/ Dismissal/ Pretrial Diversion

(Circle one) Date: _.

In Jail: Years Months.

Suspended: Years____. Months N. Drug Seizures “ Date:

(1) Court Ordered [[) Pretrial Diversion Probation: Years Months____. Drug Code ° .
Code * Y Amount $ Fines: $ Weight _______ Code
PELP Date: FDIN

ate: , Do nat indicate $ in Section D
Code * v¥ Amount $ [. Disruption/Dismantlement: Vv

. Hostages(s) Released Date:

Disruption Date:
Released by: [[] Terrorist [J] Other

O. Child Victim Information
Child located / identified Date: 6 Ee oy
Dismantlement Date: 5
Number of Hostages: , ui i D d
Completion of FD-515a Side 2 Mandatory: ay - CBecease

>

P, Subject Information - Required for all blocks excluding block D (Recovery/PELP), blocks E, I, Land N

[$$] Race | Sex | Date of Bi Social Security No. (if available)
a se ee ee

oO Subject related to an LCN, Asian Organized Crime (ACC), Stalian Organized Crima (IOC), Russian/Easlern European, Caribbean, or Nigenan Organized Crime Group -
Complete FD-518a, Side 1 Biocks A-E mandatory, F-H as appropriate,

0 Subject related to an OC/Drug organization, a VCMO Program National Gang Strategy targal group, or a VCMO Program National Priority Imllalive target group =
Complete F0-515a, Side 1 Blocks A-C only,

x Additional information may be added by attaching another form or a plain sheet of paper for additional entries. Seval Nool FP b16

e See codes on reverse side. [oe

Y Requires that an explanation be attached and foaded into ISRAA for recovery over $1 m and PELP over $5 m, disruption, dismantlement, and drug seizures.

B/IE-MH- [08062 ~ 18 /

O&8 b6é

b7C
bTE

HOUSE_OVERSIGHT_021582
"
IMAGES-007-HOUSE_OVERSIGHT_023904.txt,"158 Teaching Minds

department affairs, never about computer science. We had nothing to
say to one another about that. The same is true in every department.
Academic departments are made up of faculty who have been thrown
together for historical reasons but really have no business being in the
same department.

What does a clinical psychologist have in common with someone
who studies animal behavior? Do they talk about crazy chimps? What
does an historical linguist have to say to a Chomskian linguist? What
does someone who works on the philosophy of mind have to say to
someone who studies religious philosophy?

Departments probably should have been organized around ideas
instead of around words. I tried to facilitate that when I helped create
cognitive science as a discipline by founding the Journal of Cognitive
Science and the Cognitive Science Society. That was over 30 years ago
and while some cognitive science departments have been created, in
the end the disciplines that study the mind continue to do so in their
own ways. Computer scientists who study the mind build comput-
er models, and psychologists who study the mind run experiments.
Anthropologists who study the mind do descriptions. That these are
three of the twelve cognitive processes is no accident. Departments are
organized to some extent around the processes that they use, but that
is by no means the central organizing principle. As that old adversary
to the creation of the Yale Computer Science Department said, the
central organizing principle was a machine and that is kind of silly.

Who suffers from this state of affairs? The students, of course.
When a department’s faculty meets to decide what courses students
must take in order to major in their field, it is not a sage conversation
among scholars about what it means to be a computer scientist or psy-
chologist. It is a political tug fest, where people from very diverse fields
within these departments push and shove for turf.

Why do they care? There are two big reasons. First, if no one signs
up for the courses you teach, you won't be teaching them for long.
Second, if many students sign up for the courses you teach, you can
justify hiring more faculty in your subdiscipline, which means more
friends to hang out with and more power in department meetings
where the votes can now go your way. You think this stuff doesn’t
matter? These issues are the lifeblood of every university department.

Let’s look at both of these and see why they might matter.

HOUSE_OVERSIGHT_023904
"
IMAGES-011-HOUSE_OVERSIGHT_031508.txt,"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:)

Landon Thomas, Jr.
Financial Reporter
New York Times

http: //topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/i
ndex.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

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

HOUSE_OVERSIGHT_031508
"
IMAGES-004-HOUSE_OVERSIGHT_017819.txt,"Case 1:19-cv-03377 Document 1-16 Filed 04/16/19 Page 2 of 6

sHiamiterald

An Epstein sex case is settled;
Dershowitz denies latest
allegation

BY JULIE K. BROWN
DECEMBER 19, 2018 8:30 PM, UPDATED DECEMBER 27, 2018 7:55 AM

Accused sex traffickers Jeffrey Epstein and Ghislaine Maxwell have settled a federal civil lawsuit
filed by a woman who says she was ordered under threat of violence to have sex with them and
other influential individuals when she was in her early 20s, sources confirmed Wednesday.

Sarah Ransome, who now lives in Barcelona, claimed that she was recruited and trafficked for
sex by the pair in 2006 and 2007 — at the same time that Epstein, a wealthy New York hedge
fund manager, was under federal investigation for molesting dozens of underage girls at his
Palm Beach mansion.

”s | 3)
Women who say they were victims of sexual abuse at the hands of Palm Beach multimillionaire Jeffrey Epstein
want a judge to throw out his lenient plea deal. AP

According to a recent court transcript, among those people Ransome claims she was directed to
have sex with was Epstein’s lawyer, Alan Dershowitz, who helped negotiate a controversial plea

https://www.miamiherald.com/latest-news/article223315075.html

HOUSE_OVERSIGHT_017819
"
IMAGES-008-HOUSE_OVERSIGHT_024948.txt,"occurred in the capital markets in the world.

With regard to your point that the attraction of foreign investment has been among the priorities of economic
mobility in the UAE; it is an inaccurate assumption. Investment plans have no limits or boundaries. There are
foreign investments in the UAE, and the=2 OUAE in its turn has countless investments in many regions of the
world. Investments imply promising opportunities ina favorable environment. This is what attracted foreign
investment to the UAE, and the investment environment remains favorable in the UAE; the opportunities are
still promising, and the UAE 1s still the most important regional center for business and international trade.
Today, it is more promising than ever before, and the advent of smart investors to the UAE has not stopped.
By Ro’ya Al Iqtesadiah newspaper

""Security and profit"" are two very important concepts for the investor, and it is known
that the UAE has been a breeding ground for the development of capital in recent years.
This was reflected on the arrival of the most prominent businessmen, major companies
and famous brands to the country. The active UAE financial market contributed to the
success of many companies, which turned into public joint stock companies, with billions
of dirhams having been pumped into their capital. This means that thousands of
investors were involved in the ownership of shares. Recently, however, we have witnessed
legal and financial issues involving prominent names of UAE nationals. What does Your
Highness have to say with regard to the investment community in the UAE on the
capacity of governmental oversight of corporate governance and management of the
shareholders and their rights?

These legal issues are evidence of firm government20concern about good corporate governance and its
commitment to sound accounting principles, rules of governance and transparency. The government is
constantly working to develop bodies, procedures and safeguards. No one 1s above the law in the UAE, and
whoever crosses the line will be sought by judicial authorities and legally tried.

By Ro’ya Al Iqtesadiah newspaper

In light of the talk about the scarcity of liquidity in the domestic market, Dubai US$20
billion in bonds. Central Bank is subscribing to $10 billion of those bonds. Officials of the
Emirate stated that there is no current need for the rest of the money. Does this mean that
the Government of Dubai has closed the doors for new subscription to a second tranche?
Will support be provided by the Government of Dubai for the companies as a grant?

The doors to subscription have not been shut down. The subscriptions so far meet our requirements. The
support given to companies is not a grant, because its origin is the bill, and companies possess productive assets
that enable them to meet all the requirements. The problem of these companies is part of the liquidity problem
that has afflicted the financial system and banking world.

By Ro’ya Al Iqtesadiah newspaper

Looking at the entities that will avail from Dubai government’s financial support, can we
say that Dubai government affiliate companies have overestimated their financial
capabilities to cover development requirements, then subsequently their administrations
became responsible for the level of these companies’ transparency in handling their
projects?

HOUSE_OVERSIGHT_024948
"
IMAGES-011-HOUSE_OVERSIGHT_030616.txt,"Date: Friday, June 19 2009 11:01 PM
Subject: Re:
From: Jeffrey Epstein <jeevacation@gmail.com>

To: Peggy Siegal

Jeffrey Epstein, the Florida money manager who once roamed in the same social circle as Bill Clinton, Prince
Andrew and other high profile figures, is going to be released from prison early, a source tells
RadarOnline.com.

Epstein pleaded guilty last year to procuring teen girls for prostitution, ending his lifestyle with the rich and
famous in a Palm Beach, Florida scandal that reverberated through high-profile society. He received an 18-
month sentence and was slated to be incarcerated until the end of this year.

But now, says the source, the jail door is about to swing open because Epstein has been secretly helping the feds
unravel a suspected Ponzi scheme. He had inside knowledge of the scheme because he was one of its victims,

losing $67 million.

The source says it’s all tied to the indictment of former managers of Bear Stearns Mortgage Investment Fund, and
in that case Epstein is the person who is identified only as Victim # 1.

Meanwhile, Epstein’s life behind bars hasn’t been too rough — in fact he’s allowed to spend most days at his
attorney’s office. He was supposedly working on a charity venture but the source says he was actually busy
helping the feds with the Ponzi scheme. One source says that he’s been guarded by men in suits with
earphones.

Well if those suits are going to follow him when he’s freed they better pack bathing suits. Epstein owns Little St.
James Island in the Virgin Islands.

On Fri, Jun 19, 2009 at 4:51 PM, Peggy Sicgal TE wrote:

Can you cut and paste and email to my blackberry...I can't open this up. Peg

-—— Original Message -----

From: Jeffrey Epstein <jeevacation@gmail.com>
To: Peggy Siegal

Sent: Fri Jun 19 16:17:18 2009

Subject:

http://www.radaronline.com/category/tags/jeffrey- epstein <http://www.radaronline.com/category/tags/jeffrey- epstein>

HELP ; areporter for the ny times wants to write the following ; Epsteins lawyers were contacted and they said they had no comment.. We
have checked with some of the worlds financial experts ,both in and out of gov't , the consensus is that if Epstein is cooperating with the
feds the average intelligence of the u.s. government , just went up dramatically.

HOUSE_OVERSIGHT_030616
"
IMAGES-009-HOUSE_OVERSIGHT_027808.txt,"Flags: 1085445
Is Read: No

Is Invitation: No

F

GUID: 03954E14-1A84-49D3-B42A-6FD2A6B68E59

Message: you will need to take the campaign if there is to be any hope at all

Time: 06/18/19 04:42:49 AM

Flags: 1060865
Is Read: Yes

Is Invitation: No

(582550969)

GUID: 9192C48B-0F21-4479-A445-3B2D9A0DA318

Message: For certain

Sender: e:jeeitunes@gmail.com

Time: 06/18/19 04:52:18 AM

Flags: 1085445
Is Read: No

Is Invitation: No

($82551538)

GUID: 5460B87C-72A3-44F4-B58F-B4E149B3D34A

Message: I roared with laughter - GLORIA LOV.

Sender: e:jeeitunes@gmail.com

Time: 06/18/19 06:05:43 AM

Flags: 1085445
Is Read: No

Is Invitation: No

(582555943)

GUID: 5F495C98-8A53-44E8-B8B2-9377CBAF56F4

Message: She's trying hard

sender : iy

Time: 06/18/19 06:26:32 AM (582557192)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: DCA19976-A9A1-41AE-9019-CE23007A2148
Message: Who ??

Sender: e:jeeitunes@gmail.com

Time: 06/18/19 06:26:55 AM (582557215)

Flags: 1085445

Ts Read: No

ES You!!

HOUSE_OVERSIGHT_027808
"
IMAGES-008-HOUSE_OVERSIGHT_026187.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

HOUSE_OVERSIGHT_026187
"
IMAGES-001-HOUSE_OVERSIGHT_011647.txt,"gone wrong. “Ehud,” he said finally, “Yoni’s dead. We got the hostages out.
But Yoni was killed.”

I sought out two other friends: Mookie and Ephraim Sneh, the Battalion 890
doctor, who had been with us at the Chinese Farm. Both were obviously torn
between a sense of accomplishment in having freed the hostages and the blow
of losing Yoni. I asked Ephraim to take me to the front of the plane’s huge belly
to see him. He was on a stretcher, covered with a blanket. I peeled it back.
Yon1’s face had lost all color. But when I touched his forehead, it seemed
slighty warm, almost as if there was still a spark of life inside him.

I couldn’t raise Kuti by radio, so I used the landline in the airport director’s
office to phone Motta.

“Yoni is dead,” I told him.
“Are you sure?” he asked. I said: “Yes. P’ve seen him.”

Before the transport planes began leaving for Israel, I made another call. It
was to Nava. She was asleep. I told her that the operation to free the hostages
had succeeded. “But Yoni has been killed.” I could hear her gasp. “Listen,” I
said, “you have to go downstairs. Tell Bruria. Before some army officer shows
up at her door. Or worse, because they’re not married, no one may come and
she’ Il hear it on the radio. Go. Tell her. Stay with her.” At first, she seemed not
so much unwilling as unable to do it. “What can I say?” I said I knew how hard
it would be, but that she needed to make sure Bruria heard the news from a
friend. Later, Nava told me she’d waited until daybreak, not wanting to make
things worse by waking her. Then, she went downstairs. She told Bruria what
had happened, stayed with her, talked with her, and held her, during those first
few awful hours.

I found Yoni’s death even more upsetting when I learned from Mookie and
others how it had happened. As the sayeret motorcade began making its way
from the Hercules to the terminal, with Mookie and Yoni in the Mercedes, two
Ugandan soldiers had seen them. One of the Ugandans raised his rifle. Rather
than relying on Mookie’s assurances the soldier wouldn’t actually fire, Yoni and
another soldier shot him with their silenced Berettas. But they’d only wounded
him. In case he managed to fire back, another soldier in the Jeep behind them
killed him, with his un-silenced machine gun.

Now that all surprise was gone, the commandos abandoned their vehicles
and began sprinting towards the old terminal. Only seconds later, still 80 yards

176
HOUSE_OVERSIGHT_011647
"
IMAGES-005-HOUSE_OVERSIGHT_020424.txt,"Baie:

CHAPTER TWENTY-THREE

The Pawn in the Game

10.

11.

12

13

“The whole key is...”-- Transcript of interview with Snowden in Moscow. “I, Spy: Edward Snowden
in Exile,” Ewen MacAskill and Alan Rusbridger, the Guardian, July 18, 2014.
http://www.theguardian.com/world/2014/jul/18/-sp-edward-snowden-nsa-whistleblower-interview-
transcript.

“Sources go dark that...”—ibid.

“Single point of failure...” —Jbid.

“If any further incentive...”—Morell. op.cit. p.286
“Snowden thinks he is...”-- Morell. op.cit.p.285

“The purpose of my...”--“I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan
Rusbridger, The Guardian, July 18, 2014. http://www.theguardian.com/world/2014/jul/18/-sp-
edward-snowden-nsa-whistleblower-interview-transcript

“The time pressure resulted...”-- Barton Gellman, “Code name ‘Verax’: Snowden, in
exchanges with Post reporter, made clear he knew risk.” Washington Post, June 9, 2013

“This guy isn’t where...”-- I, Spy: Edward Snowden in Exile,” Ewen MacAskill and Alan
Rusbridger, the Guardian, July 18, 2014. http:/;Awww.theguardian.com/world/2014/jul/18/-sp-
edward-snowden-nsa-whistleblower-interview-transcript

“Tt was a nervous period...” —ibid.

“I’m not going to...” —David Boyer, “Obama on Snowden: ‘I’m not going to be scrambling jets to
get a 29-year-old hacker’,” Washington Times, June 27, 2013

“Angleton told me in...”—Author’s interview with James Jesus Angleton

. “Sir David Omand, the...”-- Tom Harper, Richard Kerbaj and Tim Shipman, “British Spies

betrayed to Chinese and Russians,” Swnday Times (London), June 14, 2015

. “Adding insult to injury...”--

Katrina vanden Heuval and Stephen F. Cohen, “Snowden Speaks: A Sneak Peek an Exclusive

Interview,” The Nation, (website), October 10, 2014
http://www.thenation.com/article/edward-snowden-speaks-sneak-peek-exclusive-
interview/

HOUSE_OVERSIGHT_020424
"
IMAGES-011-HOUSE_OVERSIGHT_032001.txt,"of Art. Gekko, who used to be a sponsor or honoree of such events, cannot even afford a ticket.

The shot starts with a barking seal jumping for fish, then pans down to the actors. Extras weave in and out. In one take Michael
makes a wrong turn and ends up at the monkey house. Everyone laughs. The atmosphere on the set is courteous but quick and tense.
There is pressure when you are making a sequel to a hit.

I watch the action on monitors while sitting on the producers' canvas chairs with Pressman, Eric Kopeloff (""Monsters Ball"") and
Celia Costas, who was a location manager on the first ""Wall Street.” They have asked me to be an extra in the Alzheimer's Ball scene
and bring some friends to play rich Upper East Side socialites. Oliver wants over the top glam, go-to-the-vault jewels and couture
gowns. ""Give me the night before the Titanic goes down,"" were his exact words. Not a problem.

I pay a quick visit to Michael in his trailer on Fifth Avenue where he is resting. We go way back. I was his personal publicist
when he won the Golden Globe and Oscar for Best Actor for ""Wall Street"" and we have remained great friends. Gekko is just as
challenging for him the second time because of endless pages of technical financial dialogue. We discuss Catherine Zeta-Jones’
Broadway debut in a ""Little Night Music."" Michael has a stack of partially finished handwritten thank you notes next to him for gifts
received for their shared birthday party on September 25th at the St. Regis. Her 40th and his 65th.

I tell him I have been cast as an extra in two scenes and he laughs knowing I am desperate to hang around him and the
production.

8:30 a.m. on Wednesday, October 21st, another warm, stunning fall day. I report to the wardrobe trailer on 65th Street and
Madison Avenue. I carry four elaborate cocktail dresses and bags of matching accessories. My hair is in rollers. Statuesque Julia
Koch walks over from her Park Avenue apartment carrying her white Valentino and long diamond earrings. Her real-life financial
titan husband David is unaware where she is this morning.

Vanity Fair's keeper of the Best Dressed List, Amy Fine Collins, arrives totally organized in turquoise vintage Geoffrey Beene,
and Vogue's fashion editor Hamish Bowles wears a riot of plaids, patterns and a large yellow fake flower on his lapel. Costume
Designer Ellen Mirojnick, who created Gordon Gekko's rich slick look in the first film, is ecstatic with the extras I invited.

Oliver is shooting a scene with Josh Brolin (the star of Stone’s “W”’). His character Bretton (never Bret) James, a ruthless Wall
Street kingpin, and his perfect wife Samantha (Noelle Beck) are hosting a benefit piano recital for a 13-year-old child prodigy in their
huge, art-filled townhouse at 41 East 65th Street. The building actually belongs to Baby Jane Holzer, a wealthy art collector still
famous for hanging with Andy Warhol in the ‘60s. The production designer had Jane's fabulous Warhols moved to storage and
replaced with matching photographic copies. Very expensive contemporary art is again an important production element of Oliver's
vision.

At 10:30 a.m., all the extras are placed around the living room set. Oliver's French mother, Jacqueline Stone, and her friend
Monique Van Vooren, both in their 80s, are seated in front of the fireplace chatting in French. Production assistants fuss over them.
Debonair macho man Chuck Pfieffer, who appeared in the original film, and I immediately invent a back story—I am his corporate
wife—and we position ourselves on a couch next to the director’s mother. Julia gets the best spot close to the piano and Amy,
Hamish and decorator Geoffrey Bradfield are right behind her. Josh is brought in and the kibitzing stops.

Oliver appears on the set with eagle eyes and a sly grin and quickly re-positions everyone. He explains the scene, gives out lines
to his favored extras, and on his way out to the monitors in the next room mentions that my earrings are too small. Wardrobe
jumps. Josh rehearses and Oliver finally yells, ""Action."" The kid plays the piano, Josh explains why we are in his home, asks for
money, the camera dollies as extras say their lines and Shia appears at the door uninvited for a confrontation with Josh. Three hours
later a PA yells, ""Lunch"".

In costume, Amy, Hamish and I run to The Monkey Bar. I am late to meet “The Harpies,"" including Liz Smith, Barbara
Walters, Cynthia McFadden, Nora Ephron, Jennifer Isham, Maury Perl and Beth Kseniak.

Graydon Carter is at the next table. I tell htm Oliver Stone wants him in ""Wall Street 2"" as an extra. (I make this up.) Graydon
jokes that he only works with lines. I say, ""Not a problem."" (This will be news to Oliver.)

HOUSE_OVERSIGHT_032001
"
IMAGES-001-HOUSE_OVERSIGHT_010559.txt,"James PATTERSON

advised he had witnessed nude girls whom he believed were |

underage at the pool area of his former employer’s home,

knew that his former employer was engaging in sexual con-

tact with underage girls, and had viewed pornographic 1
images of underage girls on computers in his employer’s a
home. Rodriguez was then released from custody for further ; : q
investigation.

The items that Rodriguez had attempted to sell to the
UCE for $50,000.00 were reviewed by an agent familiar with
the underlying criminal investigation. As Rodriguez had
described, the items contained information material to the
underlying investigation that would have been extremely use-
ful in investigati[ng] and prosecuting the case, including the Fs Prince Andrew: 2011
names and contact information of material witnesses and : :
additional victims. Had those items been produced in

response to the inquiries of the state law enforcement officers 4 q rince Andrew also fares
or the FBI Special Agents, their contents would have been Er § imprisonment.
presented to the federal grand jury. 3 ee
4 _ Ghislaine Maxwell introduced:
Following his release, Alfredo Rodriguez was arrested again. 3 __ time in the 1990s. In 2000, Eps
He appeared in court on June 18, 2010, facing charges of cor- . 4 Castle to celebrate the queen’s t
ruptly concealing records and documents. Dressed in a blue a 4 flew to Sandringham, the queer
jumpsuit and shackles, he apologized for his crimes and asked q 1 a party Prince Andrew threw for
the court to be merciful. 3 y The prince had also visited
He received a sentence of eighteen months. j 7 Palm Beach as well as in New
It was the same punishment that Jeffrey Epstein had gotten 4 ; Roberts made in her 2015 decla
for his crimes. But unlike Epstein, Alfredo Rodriguez served isi 4 asked her to give the prince wi

time in a federal prison and did not ask for, or receive, permis | back with the details

sion to go on work release. i _ According to the Guardian
: tied together at Windsor Castle,

HOUSE_OVERSIGHT_010559
"
TEXT-002-HOUSE_OVERSIGHT_032671.txt,"From: Weingarten, Reid 
Sent: 12/11/2017 3:43:25 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: RE: 
Importance: High 
Weird connections....i know glenn simpson very well....more to be said about that when I see you 
From: Jeffrey E. [mailto:jeevacation@gmail.com] 
Sent: Monday, December 11, 2017 9:12 AM 
To: Weingarten, Reid 
Subject: 
https://www.washingtontimes.com/news/20 1 7/dec/ 1 0/glenn-simpsons-fusion-gps-ran-donald-trump-smear-c/ 
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 032671 
"
IMAGES-002-HOUSE_OVERSIGHT_012848.txt,"presented in the last section, Eberhardt was also interested in the possibility that if people carry this
association around in their head, they do so unconsciously, despite explicit avowals that they are not at all
racist. And if they carry this association around unconsciously, how does it impact upon their judgments
and actions?

In one experiment with both Caucasian and non-Caucasian subjects, Eberhardt used a technique
called subliminal priming. Subliminal priming involves rapidly presenting pictures, sounds or other
experiences under the radar of awareness and then presenting material that falls within our radar. If the
two experiences are similar, the unconscious version affects subjects’ perception of the conscious one.
For example, if you first prime people by flashing the picture of a woman’s face, subjects then respond
faster to faces of women than to faces of men. In other words, despite the fact that subjects are unaware of
the prime, it affects their judgments. Eberhardt first primed subjects with photographed faces of
Caucasian or Black people or an unrecognizable non-face. They then watched a short movie that started
off with an unrecognizable object that looked like it was covered by dense snow. As the movie
progressed, the snow lifted, making it easier to recognize the object as a line drawing of either a duck,
dolphin, alligator, squirrel or ape. Subjects stopped the movie as soon as they recognized the animal.

Compared with Caucasian faces and non-faces, priming with Black faces caused subjects to stop
the movie much sooner for apes, but not for any other animal. Compared with non-faces, priming with
Caucasian faces caused subjects to stop the movie much /ater for apes, but not for any other animal. This
suggests that Black faces made it easier to identify apes, whereas Caucasian faces made it harder to
identify apes, with no comparable effects for any other animals. Caucasian and non-Caucasian subjects
showed the same pattern of response, and so too did individuals with and without strong, explicit racial
attitudes. Although the similarity among Caucasian and non-Caucasian subjects is of interest, and
suggests that the association is held even among those who were perhaps less strongly associated with
this form of dehumanization, there were relatively few Black subjects in this non-Caucasian group. This
first set of experiments suggests, therefore, that among a racially heterogeneous group of educated
Stanford undergraduates, individuals carry an unconscious association between Black people and apes,
and thus, an unconsciously dehumanized representation of another human being. Given the animal form
of this dehumanization, the implication from Haslam’s work is that Caucasians associate Blacks with less
rationality, civility, and self-control, in essence, less uniquely human qualities.

These are remarkable and disturbing findings. They can’t be explained by some superficial
similarity between human faces and animals because Eberhardt found the same results when she
presented either line drawings or words of animals. Had Eberhardt used actual photographs of animals,
subjects could have used similarity in skin color or nose shape — for example, seeing a black human face

would prime seeing a black ape face because both have the color black in common. Line drawings and

Hauser Chapter 3. Ravages of denial 102

HOUSE_OVERSIGHT_012848
"
IMAGES-005-HOUSE_OVERSIGHT_018805.txt,"IGY American Yacht Harbor Marina

18A-1, 18-B1,18-B and 18-W Remainder Estate Smith Bay
East End Quarter, St. Thomas, Virgin Islands

HOUSE_OVERSIGHT_018805
"
IMAGES-010-HOUSE_OVERSIGHT_029068.txt,"Western Europe, it’s going to come to the United Kingdom. And so I think we are in a
crisis of the underpinnings of capitalism, and on top of that we’re now, I believe, at the

beginning stages of a global war against Islamic fascism.

“With all the baggage that those [right-wing]
groups bring — and trust me, a lot of them
bring a lot of baggage, both ethnically and

racially— but we think that will all be worked
through with time.”

Benjamin Harnwell, Human Dignity Institute: Thank you, Steve. That was a
fascinating, fascinating overview. I am particularly struck by your argument, then, that in
fact, capitalism would spread around the world based on the Judeo-Christian foundation
is, in fact, something that can create peace through peoples rather than antagonism,
which is often a point not sufficiently appreciated. Before I turn behind me to take a
question —

Bannon: One thing I want to make sure of, if you look at the leaders of capitalism at that
time, when capitalism was I believe at its highest flower and spreading its benefits to most
of mankind, almost all of those capitalists were strong believers in the Judeo-Christian
West. They were either active participants in the Jewish faith, they were active
participants in the Christians’ faith, and they took their beliefs, and the underpinnings of
their beliefs was manifested in the work they did. And I think that’s incredibly important
and something that would really become unmoored. I can see this on Wall Street today —
I can see this with the securitization of everything is that, everything is looked at as a
securitization opportunity. People are looked at as commodities. I don’t believe that our
forefathers had that same belief.

Harnwell: Over the course of this conference we’ve heard from various points of view
regarding alleviation of poverty. We’ve heard from the center-left perspective, we’ve

heard from the socialist perspective, we’ve heard from the Christian democrat, if you will,

HOUSE_OVERSIGHT_029068
"
IMAGES-002-HOUSE_OVERSIGHT_012690.txt,"Omar Quadhafi is hunkering down in Tripoli giving press interviews
denying that rebels are taking over Eastern Libya. Oil 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 83™ Academy Awards and attempt to make sense of artists
thrust into combat.

For the second year nearly 6,00@ 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 1@ 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,

HOUSE_OVERSIGHT_012690
"
IMAGES-001-HOUSE_OVERSIGHT_011121.txt,"then pictured a future instant’s worth of expected satisfaction. Its perceived value at
that future moment would give its perceived value now save for differences
explained by the time gap between. I adopted the old terms time preference or time
discount rate to account for whatever they might be. There was no assumption as to
whether the rate should prove positive or negative or zero, nor that the same rate
should apply to other future instants. My goal was to leave not even the farthest-
fetched of loopholes. If 1 have succeeded, the present value rule followed as
subjective certitude giving exact expectations, though not outcomes, for each future
instant and thus for all together. Note that my depreciation theory follows, but with
the caveat that the version I have shown adds the usual assumption that time
preference is positive. That part is not certitude, although neither are we likely to

doubt it.

It was not hard to derive the maximand rule as the next step. Once we define tastes
or more generally aims as whatever behavior reveals, the rest follows quickly.

(Remember that I have no problem with mutually circular definitions.)

There were probably a few heuristic novelties. The parable of the boss and her
secretary might itself be new. So might the slave paradox with its parable of Phil and
Bill. Many including Adam Smith have pointed out economic inefficiencies in slavery,
moral criticism aside. | can’t recall mention of this most obvious one. Bill’s
maintenance consumption was taste-satisfying cash flow to Bill, and capitalized in
his present value to himself. It is pure expense to Phil once Bill is enslaved. If all but
one of us were enslaved by the one left, national output would drop by substantially

all maintenance consumption on the books of the one slaveowner.

There may also be minor novelty in my analogy between accounting for the firm and
accounting for human capital in Chapter 6. One possible example is my use of the
term “decapitalization” to include depletion and liquidation in sale as well as
depreciation. It simplifies to depreciation in the case of human capital because that

factor cannot be alienated in reinvestment or gift or sale. One inference was that

Chapter 9: So What ‘s New? 3/17/16 5

HOUSE_OVERSIGHT_011121
"
IMAGES-005-HOUSE_OVERSIGHT_020342.txt,"190

Chronology 3
Snowden in Russia
2013

June 23 Snowden arrives from Hong Kong at Sheremetyevo International
Airport on Aeroflot flight SU213 at 5:15 PM local time.

Sarah Harrison arrives from Hong Kong at Sheremetyevo International
Airport on Aeroflot flight SU213 at 5:15 PM local time.

July 12 Snowden, in his first public appearance in Russia, holds press
conference at Sheremetyevo International Airport,

July 14 Snowden first meets Anatoly Kucherena, his lawyer-to-be
August I Snowden’s application for asylum is granted for one year.
September 23 Kucherena states Snowden has access to NSA documents in Russia
October 2 Ray McGovern, Thomas Drake, Coleen Rowley and

Jesselyn Radack meets with Snowden and Harrison.
October 10 | Snowden aided by ACLU legal team put together by Ben Wizner
October 16 Snowden interviewed, via Internet, by James Risen (VY Times)
November I Snowden joins the board of the Freedom of the Press Foundation
November 3 Sarah Harrison departs from Moscow.

December 21 Snowden meets with Gellman; his first in person interview in Moscow.

2014
January 2 Snowden meets in Moscow ACLU lawyers Ben Wizner and Anthony Romero
August 1 Snowden’s residence permit is renewed for three years

HOUSE_OVERSIGHT_020342
"
TEXT-002-HOUSE_OVERSIGHT_033209.txt,"From: Lesley Groff___________________________ 
Sent: 12/20/2016 10:33:15 PM 
To: Jefffrey Epstein [jeevacation@gmail.com] 
Subject: Fwd: Cavett's guilt and horror.. 
Importance: High 
Begin forwarded message: 
From: Dick Cavett < 
Subject: Cavett's guilt and horror.. 
Date: December 20, 2016 at 5:26:17 PM EST 
To: 
Dear Lesley, 
HORRORS! 
I have committed the (to me) unpardonable error of inflicting upon Jeffrie -- today on the phone - a false 
anagram. Please spare him the pain of passing it on in its erroneous form. 
Here is the correct version: 
The letters in PRESIDENT TRUMP -- re-arranged -- spell: MR. PUTIN'S RED PET. 
Thanks, Lesley. The chicken matter touches my heart. Dick C. 
HOUSE OVERSIGHT 033209 
"
IMAGES-004-HOUSE_OVERSIGHT_018294.txt,"even if the result is similar: Mass gatherings, control of some essential public space -
a square, a stock exchange, a park. All organized, it appears, using completely
ethereal techniques: Text messages, video postings, chat rooms. Similar movements
appear around in the world. In Iran, in Italy, in Russia. “Occupy Wall Street”,
blossoms in New York City, a protest against wealth inequality and finance. It
becomes a self-franchising social movement, appearing in hundreds of cities:
Occupy Hollywood. Occupy Central in Hong Kong. Occupy - strangely — Vegas.

Then in Sidi Bouzid, a Tunisian town you've never heard of, far away from all these
unstable looking mobs, a spark lands. A local man has set himself on fire. Police
(worse, a police woman) had confiscated his scales and his fruit and then tossed him
around for no reason other than that he was poor and could do nothing about it. It is
November 2010. Within hours protests begin in Sidi Bouzid. They spread to Tunis.
81Then Tripoli. Then Damascus. You watch as the anger, moving on once-invisible
technological lines of video and text, demolishes the stability of all of North Africa.
Over the next two years leaders are pushed from power in Egypt, Tunisia, Libya, and
Yemen: their names, instead of being symbols of stability, instantly cast as sources
of injustice. Other countries - Syria, Algeria, Sudan, and Bahrain tumble for periods
into the black hole of civil violence. Some people mistake all this for a democratic
revolution. Over time, however, it’s clear this is hardly that. Something more
complex is emerging from the violent mist. New, nearly virtual terror groups
organized themselves in the vacuum, hyper-lethal versions of connected protest. A
new kind of political energy, a method of linking people and ideas and an easy
destructive power, is alive. It seems to be as active in cynical, murderous
fundamentalists as in the optimistic peace-hoping youth. Democratic revolution? No.
Revolution? Yes, clearly, that.

A few years later, after you've been replaced or are on the run, after your own
country has had upheaval and you've had your visit from a well-meaning American
diplomat urging you towards a quiet retirement house in Saudi Arabi, the Spanish
social philosopher Manuel Castells will name the disease that undid you. Castells is
perhaps an unlikely figure to diagnose the political illness that infected so much of
the world after 2008. An elfin, kinetic figure with a disorganized mop of grey hair, he
sports the wardrobe of an accountant and a rolling Spanish accent that flavors his
speech with a surprising taste of romance. It’s a mixture that seems somehow ideal
for a world often on his lips: “Reevolootion.” With the meticulous care an
anthropologist might bring to documenting a distant, undiscovered tribe, Castells
has spent decades finger-poking, classifying and explaining networks. In the late
1990s his books, lectures and research set the frame for the world we inhabit: fast-
changing, ripped through by communications and technology, linked in unusual
ways. “The network society,” he explained, “represents a qualitative change in the
human experience,” he explained. 8

81 They spread to Tunis: Mohamed Zayani, Networked Publics and Digital
Contention: The Politcs of Everyday Life in Tunisia, Oxford University Press (2015)

82 “The network society”: Manuel Castells, The Rise of the Network Society (Malden,
Mass: Blackwell Publishers, 1996), 508

62

HOUSE_OVERSIGHT_018294
"
IMAGES-003-HOUSE_OVERSIGHT_014870.txt,"Dershowitz details chat about Israel with president at his estate - The Bo... https://www.bostonglobe.com/news/politics/2017/04/06/dershowitz-detai...

6of8

The biggest threat facing middle-age men isn’t smoking or obesity, Its
lonelimess.

As men grow older, they tend to let their friendships lapse. But there’s still time to

do something about it. MORE...

, Girlfoundliving with monkeysin Indian forest

The girl, believed to be 10 to 12 years old, was unable to speak, was wearing no

clothes, and was emaciated when she was discovered. MORE...

Ittooka village to create the mess at UMass Boston. Where was the
board?

It’s too easy to paint this as a failure of one person. As taxpayers, we shouldn’t. It’s

a failure of the system. MORE...

sy =>-_ Health careinthe US isanexpensive mess. How does Canadadoit?

nt In Canada, “if you need help, you get it.” MORE...

The US hit Assad’s forces. Now what?

Is this the beginning of an ongoing move against the president of Syria, or a

one-night demonstration of force? MORE...

Abaseball mystery: How did a ball get stuckin Yadier Molina’ chest
protector?
The Cardinals catcher lost track of a pitch, and appeared to be the last person in

the stadium to realize it was on his chest protector. MORE...

You're reading 2 of 5 free articles. Get UNLIMITED access for only 99¢ per week. Subscribe now

4/7/2017 11:48 AM
HOUSE_OVERSIGHT_014870
"
IMAGES-001-HOUSE_OVERSIGHT_012428.txt,"~0929104 . TXT

14 question, lack of Foundation. You're making an
15 assumption. She just answered you she can't tell
16 you that.

17 MR. TEIN: Speaking objection. And you

18 well know that, Mr. Leopold.

19 MR. LEOPOLD: She can't answer that

20 question. The way you phrased that question,

21 you're purposely making her not be honest in her
22 testimony. She can't answer a question like that.
23 She doesn't remember. So then you say, ""So you
24 were lying.” That's improper and you know that.
25 That's not a proper question. And any attorney

39

~

that would do that to a witnesses or to a person

2 that's sitting in this chair is not acting
3 professionally. You can't ask a question like
4 that. You can do it, but it's not proper. And
5 I'm sure you weren't trained that way, certainly
6 not ethically.
7 MR. TEIN: Will you stop?
8 MR. LEOPOLD: I'm not going to stop,
9 because the way you're asking that question is
10 improper and you know it.
11 MR. TEIN: You're losing your cool.
12 BY MR. TEIN:
13 .
14 MR. LEOPOLD: Trust me. I'm very calm.
15 When 1 lose my cool, you'll know it.
16 MR. TEIN: 1 do know it.
17 BY MR. TEIN:

Page 33

HOUSE_OVERSIGHT_012428
"
IMAGES-009-HOUSE_OVERSIGHT_028285.txt,"THE HOUSE OF THE NOBLEMAN
CURATED BY WOLFE VON LENKIEWICZ & VICTORIA GOLEMBIOVSKAYA

PRESS CLIPPING (INTERNET)

The House of the Noble Man

15.10.2010

2 Cornwall Terrace, a magnificent 18th-century building off Regent’s Park and a stone’s throw from Frieze art fair,
will be the venue for this spectacular exhibition featuring Old Masters and famous names from contemporary art,
including Picasso, Manet, Cézanne, Damien Hirst, Banksy, Martin Kippenberger and Gerhard Richter. Work from
the Saatchi Gallery’s ‘New Sensations 2010 ‘ including jotta artist Joshua Bilton also on show.

The show imagines the house’s inhabitant as a hugely successful trader. Having used his mastery of technology
and the possibilities of the information age to amass vast wealth, he aspires to find a shaping narrative for the
etiolated form of his existence. Art is one of the avenues in his search.

He may live in a nobleman’s house, but he’s no blue blood. A tax exile, nomadic by habit, our collector spends his
days - and nights - bathed in the blue light of a computer screen, as he trades in dematerialized securities, or
prices options based on weather conditions on the other side of the globe: drowned cities viewed remotely via
CNN, or better, modelled via a computer simulation.

The roles of the nobleman and artist found a convergence in the figure of Don Quixote, a fool who aspired to the
chivalric codes he’d read about in antiquated texts. But this fantasy was a liberation; allowing him to contend with
base matter, infusing it with near-infinite possibilities, just as the empirical certainties of the Renaissance would
soon give way to the vertiginous perspectives of the new mathematics.

The exhibition updates the Don Quixote model to cast the collector/artist/nobleman as a man without qualities,
occupying the privileged space of the capitalist elite, looking down through a virtual window to plot the
constantly-changing vectors of matter, bodies and events as they hurtle by on the other side of the glass.
Curated by Victoria lonina-Golembiovskaya and Wolfe Von Lenkiewicz

Friday 15th to Wednesday the 20th October, 11 am - 6 p.m, by appointment only

2 Cornwall Terrace, The Regent's Park, London NW1

HOUSE_OVERSIGHT_028285
"
IMAGES-010-HOUSE_OVERSIGHT_029040.txt,"the sense of where it supports the underpinnings of nationalism — and I happen to think
that the individual sovereignty of a country is a good thing and a strong thing. I think
strong countries and strong nationalist movements in countries make strong neighbors,
and that is really the building blocks that built Western Europe and the United States, and
I think it’s what can see us forward.

You know, Putin’s been quite an interesting character. He’s also very, very, very intelligent.
I can see this in the United States where he’s playing very strongly to social conservatives
about his message about more traditional values, so I think it’s something that we have to
be very much on guard of. Because at the end of the day, I think that Putin and his cronies
are really a kleptocracy, that are really an imperialist power that want to expand. However,
I really believe that in this current environment, where you're facing a potential new
caliphate that is very aggressive that is really a situation — I’m not saying we can put it on
a back burner — but I think we have to deal with first things first.

Questioner: One of my questions has to do with how the West should be responding to
radical Islam. How, specifically, should we as the West respond to Jihadism without losing
our own soul? Because we can win the war and lose ourselves at the same time. How
should the West respond to radical Islam and not lose itself in the process?

Bannon: From a perspective — this may be a little more militant than others. I think
definitely you’re going to need an aspect that is [unintelligible]. I believe you should take a
very, very, very aggressive stance against radical Islam. And I realize there are other
aspects that are not as militant and not as aggressive and that’s fine.

If you look back at the long history of the Judeo-Christian West struggle against Islam, I
believe that our forefathers kept their stance, and I think they did the right thing. I think
they kept it out of the world, whether it was at Vienna, or Tours, or other places... It
bequeathed to use the great institution that is the church of the West.

And I would ask everybody in the audience today, because you really are the movers and
drivers and shakers and thought leaders in the Catholic Church today, is to think, when
people 500 years from now are going to think about today, think about the actions you’ve
taken — and I believe everyone associated with the church and associated with the Judeo-
Christian West that believes in the underpinnings of that and believes in the precepts of
that and want to see that bequeathed to other generations down the road as it was

bequeathed to us, particularly as you're in a city like Rome, and in a place like the Vatican,

HOUSE_OVERSIGHT_029040
"
IMAGES-002-HOUSE_OVERSIGHT_012860.txt,"honey hit to the brain when we shine. There is evidence that schizophrenia is associated with a
dysfunctional dopamine system, which might help explain the overconfidence in their beliefs, especially
beliefs in powerful religious icons. Winning boosts confidence, which increases the chances of winning
again. This is a highly adaptive cycle that can lead to overconfidence.

Dominic Johnson took advantage of the research on human and animal competition to explore the
link between overconfidence, testosterone, and war within the context of a simulated game. Each subject
played the role of a leader in a country at war with another over diamond resources. The goal of the game
was to accrue the highest level of resources or defeat the neighboring country. Though war games ona
computer can not capture the full reality of war, the fact is that military specialists throughout the world
use simulations to prepare combatants for some of the strategic and emotional problems they will
confront.

Most subjects judged that they would outcompete their opponents, and this was exacerbated in
males relative to females. Those who believed that they would whip their opponents actually had the
worst records, suggesting that they were not only uncalibrated but that their distortion of reality led to
costly outcomes. Those with the highest expectation of victory had the highest testosterone levels and
were most likely to launch unprovoked attacks on their opponents.

Whether in real life or in the simulated world of computer games, brimming overconfidence can
lead to a distorted sense of risk and the odds of victory in war — or any competitive arena. Though this is
a costly strategy, there are clear evolutionary benefits under conditions explained by Trivers and Johnson.
Self-deception is favored when opponents have imperfect information about their strengths and
weaknesses, and where the payoffs are high relative to the costs. Self-deception leads individuals to go
for it, convincing themselves and others that the risks are low, the gains are great, and the standard social
norms are no longer applicable. This is a dangerous form of denial, recruiting moral disengagement to
justify horrific means and ends. This is a piece of the psychology that can facilitate the process of
runaway desire. This is a piece of the psychology that enables individuals to cause great harms.

My goal in this book has been to find the universal core of evil, the elements or ingredients that
are shared across all cases of evil. My suggestion is that the mixture of desire and denial are both
necessary and sufficient ingredients in the recipe for evil. All other ingredients are flourishes, creative
additions that do not take away from the universal core. Within each of us is a recipe for causing
excessive harm and for expressing exceptional compassion. We have choices. But as evidence
accumulates from the sciences, it has become increasingly clear that some of us have fewer choices than
others. Some of us are equipped to resist the temptations of a culture of evil, while others fall prey. This is

the story of our species. This is our story.

Hauser Chapter 3. Ravages of denial i14

HOUSE_OVERSIGHT_012860
"
IMAGES-001-HOUSE_OVERSIGHT_011109.txt,"confidence, we would know how much correction was enough. That’s a reason to

take depreciation theory seriously.

Market-Valued Capital in Macroeconomics

Another reason why macro should be reconceived from scratch is that its defining
equations, written mostly over half a century ago, leave out capital. Change in capital
shows as net investment, but capital itself stays outside. Flows are considered

sufficient for description.

Piketty, a good economic historian, tells us that this did not have to be. It seems that
the largest economies had good records of market-valued capital since the late-
middle nineteenth century. Piketty does not speculate why macro and national

accounts ignored them when both took form in the 1920s and 1930s.

Physical capital and its changes can be measured at market or calculated by the
perpetual inventory method used in balance sheets. | showed in Chapter 2 why that
method is not the best. Depreciation accounting assumes norms in the loss of capital
value with time, and gets the news of actual outcomes long after. National accounts
reported positive real net investment, meaning growth in capital value, in 1929,

1930, 1937 and 2008. They give little clue to reality in years of surprise.

The neglect of market-valued capital in macro and the national accounts until 1990
or so may have to do with the influence of Keynes. The General Theory includes
some hilarious broadsides on the fickleness of market speculators. He put more
trust in the sober disciplines of accounting. Piketty trusts the market more, and so

do I.

Then why does Piketty track new investment, or change in capital, by the accounting
methods used in national accounts? That seems inconsistent. My charts and tables

track it at market. It seems to me that national accounts should track it both ways,

Chapter 8 Banks, Money and Macroeconomics 2/8/16 20

HOUSE_OVERSIGHT_011109
"
IMAGES-003-HOUSE_OVERSIGHT_016097.txt,"Brooks’ Law 230
bubble sort ballet 165
Buschkuehl, Martin 33
Bush, George W 194
butterfly

creating tornados 173
Byrd, William 259
bytes 129

C

calculating machines 15
California Institute of Technology
(Caltech) xii
Call of Duty 290
Cambridge University 17,72, 195, 221
King’s College 211
Mathematical Bridge x
Trinity College 193
Wolfson College ix
CaMKII 119
Candidate for a Pullet Surprise 139
Cantonese 87
Cantor, Georg 179
Cantor’s theorem 221
Carey, Maria 113
Carroll, John 29
Carroll, Lewis 135, 140, 149, 148-150,
248, 356
Casio synthesizer 311
CAT scans 13, 102
Cats Creation 145
Cattell, Raymond 29
CERN 333, 335
Chaitin, George 188
Chalmers, David 39
Champollion, Jean-Francois 89
chaos 171
CHC theory 29
checklist 152
Cheshire Cat 149
chess 32, 163
perfect chess-playing machine 6
chimpanzee and typewriter 127
China 15
Chinese 86, 129
Chinese Room, Searles 65, 64-67, 222
Christensen, Clayton 306
Christie, Agatha 260
chunking 91
Church, Alonzo 212

Index 407

Churchill, Winston 17, 213
Chutzpah 86
ciphers 215, 218
circle free 243
Clauser, John 333
Clay Mathematics Institute 167, 196, 225
Cleese, John 270, 303
clocks 42
astrological clock 39, 42
modern computers and 43
code breakers 211
codes 214
and children’s games 214
and code books 215
and code breakers 214, 305
and Enigma machine 215, 305
and one-time pad 216, 217, 218
Cohen, Harold 308, 311
COIN dynamics 53, 55, 90
Cold War 81, 213
color perception 110
comedy 92, 94
as survival skill 94
communication
audio field 291
background context 86
bandwidth 288, 292
body language 288
digitization 289, 293
earliest recorded 87
emails 81
face to face xii, 81, 83, 293
hyper-communication 285-294
nonverbal 84
of objects 90
scripts and symbols 87
symbolic 87, 293
telephone 81
Compaq 307
compatibilism 41, 315
compiler 231
complexity
accidental 231
essential 231
complexity hierarchy 168
compositions 8
computer xi
as human 11, 26, 46
brains 14, 120
bugs 262

HOUSE_OVERSIGHT_016097
"
IMAGES-007-HOUSE_OVERSIGHT_023092.txt,"Methodology

Repatriation impact

We estimated cumulative overseas profits for the S&P 500 excluding Financials and
Real Estate via three sources: 1) Bloomberg data on cash held overseas (if
disclosed/available}, 2) BofAML analyst estimates on cumulative overseas profits or
cash, and 3) our own estimate if neither (1) or (2) are available, based on (Total cash x
[% of foreign sales +10%J]) for companies with at least 5% foreign sales.

We apply the effective tax rates proposed by Trump (10%) and the Blueprint (8.75%) to
our estimated $1.2tn in overseas cash to determine taxes due for the S&P 500 ex.
Financials & Real Estate. We estimate that 100% is brought back given that the tax is
mandatory. To compute the one-time tax impact to GAAP EPS, we divide the cumulative
tax impact by the S&P 500 divisor, after first excluding the impact from several large
multinationals (e.g. AAPL) which already provision a portion of their overseas profits for
US taxes and have effective US tax rates well above 35%.

Note that for companies for which our analysts provided estimates, we asked them to
provide cumulative overseas profits if possible, but in most cases this number reflects
overseas cash. Thus, taxes paid could be slightly higher than we estimate given that
both the Blueprint and Trump’s plans suggest a mandatory tax on all accumulated
overseas profits, some of which may be permanently reinvested; here, the Blueprint
suggests a lower 3.5% tax for retained earnings not held in cash/equivalents, suggesting
that any additional taxes payable that we are not capturing are likely to be small.

To calculate the % EPS impact from buybacks, we subtract the amount of taxes payable
from total cash brought back for the S&P 500 ex. Financials & Real Estate (and for each
sector) and divide this by the market cap for the S&P 500 (and for each sector.) We
multiply this % impact for the overall index by our 2018E EPS of $137 to determine the
potential EPS impact, applying various buyback scenarios (10-100%). We use 50% as a
base case scenario, which is lower than the 80% brought back during the 2004 tax
holiday, to be conservative.

Border adjustments impact on EPS

We estimate the costs of goods imported and exported for each company using the
latest company filings, conversations with analysts, industry research, management
commentary and the Input-Output accounts data published by the U.S. Department of
Commerce. For more information about the Input-Output accounts data, please refer to
the Bureau of Economic Analysis website at http://www.bea.gov/industry/io_annual.htm.

When using the estimates based on Input-Output accounts, we adjust them to account
for the varying foreign exposures of different S&P 500 industries. For companies that
source products through importers (e.g. retailers), we only included the costs of goods
estimated to be directly imported by each company, as taxes pertaining to those
imported goods should be paid by the importers themselves.

We estimate the earnings impact of border adjustments based on the additional taxes
that companies would pay on the costs of imported goods sold in the US (non-
deductible) and any reduction in taxes related to the production costs for exported
goods (deductible). To calculate this, we multiple the net value of imported COGS by the
assumed tax rate. Note that the net impact can be either positive or negative depending
on whether the company is a net importer or exporter. We assume a 50% haircut to the
impact to account for from alternate sourcing, currency rates and pricing power.

Lower corporate tax rate impact on EPS

We estimate the normalized effective domestic tax rate of a company based on
conversations with the analysts or the median 5-year domestic income tax rate. If a
company had a negative tax rate for a particular year, we exclude the tax rate of that

BankofAmerica <2”

24 Equity Strategy Focus Point | 29 January 2017 Merrill Lynch

HOUSE_OVERSIGHT_023092
"
IMAGES-003-HOUSE_OVERSIGHT_014858.txt,"The value-added tax, which is popular in many other countries, would serve as a kind of national sales tax, one that
consumers would pay when they make purchases and that businesses would pay for supplies, services and raw
materials. A carbon tax would target the emissions of carbon dioxide and other greenhouses gases in the burning of

gasoline, coal and other fossil fuels.

The study of the new options — which would represent major changes to American economic policy — comes as the
administration looks to tax reform as its next major battleground for implementing its agenda. Trump wants to cut

taxes sharply, but his advisers are looking for ways to raise revenue so as not to create a giant hole in the deficit.

Administration officials stressed that no final decision has been made and they are reviewing different alternatives.
Two officials and a third person confirmed the consideration of the value-added tax, while one official and the third

person confirmed the consideration of the carbon tax.

The search for new options reflects a recognition of the political challenges facing a proposal known as a border-
adjustment tax that the White House and some Republicans had begun to rally around. The proposal, effectively a tax
on imports, would not only raise needed revenue but also serve to fulfill Trump’s pledge to protect American

companies from unfair export competition.

The tax would create incentives for companies to manufacture and produce goods domestically. But the proposal is
unpopular with many other Republicans, who have said it would raise costs for consumers on things such as

automobiles, electronics and clothing.

A value-added tax and a carbon tax have long been favored tools among economists, including some on the right, to
raise revenue in a way that supports economic growth. But the prospect of any new taxes has long drawn skepticism

from Republicans.

Amanda Ens

Director

Bank of America Merrill Lynch

Merrill Lynch, Pierce, Fenner & Smith Incorporated
One Bryant Park, 5th Floor, New York, NY 10036

HOUSE_OVERSIGHT_014858
"
IMAGES-001-HOUSE_OVERSIGHT_012400.txt,"ue sy
/

23
24
25

—

oO Oo CNY Oo oO FF WwW DY

~0929104. TXT

Q. Anyone else living there?

A. No.

Q. The contempt motion that your mother filed

6
against your father regarding your fifty million-dollar
lawsuit against Jeffrey Epstein says that you live with
your aunt and uncle and have been !iving there; is that
correct?

A. Yes.

Q. How long have you been living with your
aunt and uncle?

A. Since my father kicked me out.

Q. That was Thanksgiving of this past year?

A. Yes, sir.

Q, Okay. Didn't did your firefighter boy
friend Po get an apartment for the two of
you?

A. No, sir. He has an apartment, but by
himself.

Q. Did he get an apartment for the two of you
to live in?

A, No, sir.

Q. Are you planning to move in with him?

A. Maybe one day in the future.

Q. Do you have a plan to move in with him
presently?

A. No.

Q. Have you been to the apartment that you and
ae: discussed moving in together?

Page 5

HOUSE_OVERSIGHT_012400
"
IMAGES-011-HOUSE_OVERSIGHT_031246.txt,"From: Lawrence Krauss

Sent: 12/11/2017 6:31:28 AM

To: Nancy Portland [a

cc: Lawrence Krauss x

Subject: Re: URGENT: BuzzFeed News inquiry re allegations of sexual harassment

Attachments: DA866543-7401-4A5A-8E50-FD32E33A50EC.png

Importance: — High

Second Draft:

I appreciate the opportunity to respond to your email. While I am running the risk that you will report my
comments, if you do, either out of context, or incompletely, Iam responding with an effort to be complete. It is
hard to know how to respond to a list of false and/or distorted allegations, along with misleading statements on
your part. 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 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. I 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.

The items you list 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 there
were respectful and platonic encounters afterwards. There is nothing to comment on in item 3, which involves
an anonymous 3rd party claim because I know nothing about it, there are no details provided, and it clearly 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
did not happen. 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 at the time in response to the blog in question, causing it to be taken
down.

It is worth 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 in knowing what we could do, if
necessary to encourage more women to go into physics, and also because as someone she had asked for career

HOUSE_OVERSIGHT_031246
"
IMAGES-003-HOUSE_OVERSIGHT_014680.txt,"Case 9:6ase-doFeeKardsBbd eR aaumentieaaon tied 9 Weeldet oF ages 26 1 Page 4 of 10

In their Rule 21 Motion, Jane Doe 3 and Jane Doe 4 do not claim that they were omitted
from this proceeding due to any “inadvertence” or “mistake” by Petitioners; rather, they seek to
join this proceeding as parties that could have been permissively joined in the original petition
under Rule 20 (“Permissive Joinder of Parties”). As courts generally use the standards of Rule
15 to evaluate such circumstances, the Court will consider the joinder issue as presented in the
Rule 15 Motion.’ The Court will consider the arguments presented in the Rule 21 Motion as if
they are set forth in the Rule 15 Motion as well. Because the arguments are presented in the Rule
15 Motion (and because the Court is denying the Rule 15 Motion on its merits, as discussed
below), the Rule 21 Motion will be denied.

The Court also concludes that portions of the Rule 21 Motion and related
filings should be stricken from the record. Pending for this Court’s consideration is a Motion
for Limited Intervention filed by Alan M. Dershowitz, who seeks to intervene to “strike the
outrageous and impertinent allegations made against him and [to] request[] a show cause order to
the attorneys that have made them.” (DE 282 at 1). The Court has considered Mr. Dershowitz’s
arguments, but it finds that his intervention is unnecessary as Federal Rule of Civil Procedure
12(f) empowers the Court “on its own” to “strike from a pleading an insufficient defense or any
redundant, immaterial, impertinent, or scandalous matter.” Fed. R. Civ. P. 12(f).

Petitioners’ Rule 21 Motion consists of relatively little argumentation regarding why the

Court should permit them to join in this action: they argue that (1) they were sexually abused by

' The Court notes that, regardless of which motion it considers, the same standard
governs the addition of parties under Rule 21 and Rule 15. See Goston v. Potter, No. 08-cv-478
FJS ATB, 2010 WL 4774238, at *5 (N.D.N.Y. 2010) (citing Bridgeport Music, Inc. v. Universal
Music Grp., Inc., 248 F.R.D. 408, 412 (S.D.N.Y. 2008)).

4

GIUFFRE002847

HOUSE_OVERSIGHT_014680
"
IMAGES-004-HOUSE_OVERSIGHT_017831.txt,"766

ber 11, 2001 terrorist attacks, as well as
insurance carriers, brought actions against
al Qaeda, al Qaeda’s members and associ-
ates, alleged state sponsors of terrorism,
and individuals and entities who allegedly
provided support to Al Qaeda, asserting
causes of action under Torture Victim Pro-
tection Act (TVPA), Antiterrorism Act
(ATA), Alien Tort Claims Act (ATCA), and
Racketeer Influenced and Corrupt Organi-
zations Act (RICO), as well as claims for
aiding and abetting, conspiracy, intentional
infliction of emotional distress, negligence,
survival, wrongful death, trespass, and as-
sault and battery. Actions were consolidat-
ed by Multidistrict Litigation Panel. Vari-
ous defendants filed motions to dismiss.
Holdings: The District Court, Casey, J.,
held that:

(1) jurisdictional discovery was warranted
on issue whether Saudi Arabian bank
was immune under Foreign Sovereign
Immunities Act (FSIA);

claims against Saudi Arabia and two of
its officials based on alleged contribu-
tions to charities were not subject to
commercial activities exception of
FSIA;

complaint alleging that Saudi Princes
contributed to charities that supported
al Qaeda failed to allege causal connec-
tion sufficient to satisfy New York
standard for concerted action liability,
for purposes of torts exception of
FSIA;

(4) claims against Saudi Arabian Prince
arising from alleged contributions to
charities were barred by discretionary
function exception to torts exception of
FSIA;

(5) claims against Saudi Arabian Prince
arising from alleged decisions regard-
ing treatment of Taliban and al Qaeda
leader were barred by discretionary
function exception to torts exception of
FSIA;

2

aa

G)

ar

349 FEDERAL SUPPLEMENT, 2d SERIES

(6) claims against Saudi Arabia arising
from alleged decisions to make charita-
ble contributions were barred by dis-
cretionary function exception to torts
exception of FSIA;

7

a,

survivors failed to make prima facie
showing necessary to establish person-
al jurisdiction over Princes and others
under New York’s long-arm statute;

(8

nai

modified due process standard appro-
priate for mass torts would not be
applied to question of personal juris-
diction;

(9) allegations were insufficient to estab-
lish general personal jurisdiction over
Princes;

(10) survivors failed to establish personal
jurisdiction over founder of Saudi
Arabian company;

(11) limited discovery would be permitted
with regard to whether Saudi Arabian
bank’s contacts with United States
were sufficient for exercise of person-
al jurisdiction;

(12) survivors failed to establish personal
jurisdiction over director of charity;

(13) jurisdictional discovery was warrant-
ed to determine if Saudi Arabian con-
struction company purposefully di-
rected its activities at United States;

(14) jurisdictional discovery was warrant-
ed to determine which of charitable
network’s entities had presence in
Virginia, for purposes of personal ju-
risdiction;

(15) survivors made prima facie showing
of personal jurisdiction over bank
chairman;

(16) survivors failed to state cause of ac-
tion under RICO;

(17) attacks were extreme and outrageous,
as required for intentional infliction of
emotional distress;

HOUSE_OVERSIGHT_017831
"
IMAGES-011-HOUSE_OVERSIGHT_031520.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_031520
"
IMAGES-001-HOUSE_OVERSIGHT_012366.txt,"Onn bd WwM re

gol
P Okay So when you come rite the house, : 2
you go mito the kitchen, you meet with some people there whe | 3
takes you up -- i 4
A Wii 5
Q You met with |g : 6
A Yeah. Therfkay sit down and tell sit down 7
and everything § go and call Jeffrey. That's what £ was : 8
confused when you say Jelf [don't know any Jel And 9
then she takes me upslits and stays there and Faith TO
stays there like all the gme white I'm upstairs pil
Q Okay Okay. Soljhakes vou upstairs. Did 12
you use the stairs -- : 13
A Yes. , 414
Q -- lo go upstairs? 25
Okay. De vou recall anything weird when you were | 16
going up the stairs? 217
A The pictures. 18
QQ Ohay. Pictures of what? :19
A Naked people. i206
Q Naked people. Okay. Okay. She brings vou inte i21
this you said it was a massage room? : 22

A Yes.

Q Is Jeffrey aiready there?
A No.

Page
Q No? Whit did vou do next? 1

A [sit down there and she tells ine just wait a i 2
second. Then she comes back and we put like the little bed = 3
for the massage and she's Dke okay, thete’s some lotions iq
and he'll be right out. a)
QQ Okay. 1 6

A Then he comes in, hes tike okay. Then he knows FF
my tame already. [im Chen he’s like okay, just a : 8

Thassuge. _—
Q Okay. When he came in wos he ina towel? Was be 10
ina robe? : 11
A No. He had like clothes. Ie was rimming or il2
something like that. 13
(2 Itacd regular clothes on? :14
A Yeah. 15
QQ And he got on the table with the clothes an? 16
A No. He took his efothes off and ke puts like a 217
towel, :18
Q He puta little towel over hits. Okay. So at any :19
point did you see him naked? : 20
A Noten the first ime. 2]
Q No, Okay. So he lays on the bed, massape bed i 22
with his towel and vou start massaging him. Do vou remember! 23
where you provided the massage? 24
A On the back and his legs. P25

PhD te
Pula

Page

QQ On his back and on bis Jugs. Ohaw Plow were sou
dressed when you were giving the massage”?

A | wasm yeans and a T-shirt

Q Okay. Okav. At any pont did be ask vou to
Temove your clothes’?

A Yeah

GQ Okay. This is during the first massape?

A Yeah And f say no,

@ And vou said ne, Okay. Okay. Do yott continue
wilh the massage?

A Yeah [twas kind of weird that he asked me take
my clothes off.

@ Okav. So take me through then from there. You're
domg the massage?

A: dothe massage. After | finish he's tke okav.
Actually he pay me before | start domy tbe massage

Q Tepaid Tow much did he pay vou?

A $200,

Q $200. Atany ime daring when vou're giving him
the massage, did he ever turn over --
A Yeah.
QQ -- onto his back?
A Uh-huh.
. Fell me what happened after that.

Fage Gr

Qin hts chest area?

A On his chest. yeah.

Q During the time you're massaging him on his chest,
is he touching himself?

A Yes.

Q Okay. LiNplain, explain that to nic.

A Well, he start geting a litle excited about it
amd he start iouching himself and [told him stop, and that,
that wars a,

Q Okay. When vou mean by fouchmg himself, you mean

be was masturbating?

A Yes.

Q And vou told him ta stop?

A Nod didn't tell him to stop.

Q Oh. okay. Okay. Su while you're rubbing his
chest, did he ever take off hus towel?

A No

Q So how would he be able to masturbate if --

A Well. Hike he had his hand under the towel.

Q Under. So vou never saw him. Did vou eves see
Inm naked?

A No. Not the first time but] saw him like the
second ine.

Q Okay. Okay. Okay. So then von did your ma --
continued wilh your mass

assage like on [ don't know how vou sav ib :

3 (Pages € ta

HOUSE_OVERSIGHT_012366
"
IMAGES-008-HOUSE_OVERSIGHT_024960.txt,"3

Alas, though, the main strategy of Iran, Syria, Hezbollah and Hamas
will be to drag Israel into the Arab story — as a way of deflecting
attention away from how these anti-democratic regimes are repressing
their own people and to further delegitimize Israel, by making sure it
remains a permanent occupier of Palestinians in the West Bank.

Have no illusions: The main goal of the rejectionists today is to lock
Israel into the West Bank — so the world would denounce it as some
kind of Jewish apartheid state, with a Jewish minority permanently
ruling a Palestinian majority, when you combine Israel’s Arabs and
the West Bank Arabs. With a more democratic Arab world, where
everyone can vote, that would be a disaster for Israel. It may be
unavoidable, but it would be insane for Israel to make it so by failing
to aggressively pursue a secure withdrawal option.

The second group that will have to pay retail for stability is the Arab
monarchies — Saudi Arabia, Bahrain, Kuwait, Jordan, Morocco.
These governments have for decades bought stability with reform
wholesale — by offering faux reforms, like reshuffling cabinets, that
never amounted to real power sharing — and by distracting their
people with shiny objects. But these monarchies totally underestimate
the depth of what has erupted in their region: a profound quest for
personal dignity, justice and freedom that is not going away. They
will have to share more power.

The third group I hope will have to pay retail is Egypt’s Muslim
Brotherhood. Under Mubarak, in an odd way, the Brotherhood had it
easy. Mubarak made sure that no authentic, legitimate, progressive,
modern Egyptian party could emerge between himself and the
Muslim Brotherhood. That way, Mubarak could come to Washington
once a year and tell the president: “Look, it’s either me or the Muslim
Brotherhood. We have no independent, secular moderates.”
Therefore, to get its votes, all the Muslim Brotherhood had to say was
that “Mubarak is a Zionist” and “Islam is the answer.” It didn’t have

HOUSE_OVERSIGHT_024960
"
IMAGES-009-HOUSE_OVERSIGHT_027820.txt,"Time: 06/22/19 03:48:03 PM (582936483)
Flags: 1085445
Ts Read: No

Is Invitation: No

GUID: 2

r,

1h39294-A131-45A0-A4BE-FI1E81D936D3

Message: Spoke to dan

Sender: e:jeeitunes@gmail.com

Time: 06/22/19 03:51:31 PM (582936691)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: F869FEF1-DFC6-4A5E-A782-B363B162F05D

Message: Miro

sender:

Time: 06/22/19 05:07:29 PM (582941249)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 12B770FC-BEA2-4F82-9BCF-BE11056BBDEE

Message: Cool

Sender: e:jeeitunes@gmail.com

Time: 06/23/19 03:48:06 AM (582979686)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 5S9E2E3A2-C98C-4686-A7A6-EB1DC7825C96

Message: Re ukraine. , Rudy is on the right track

Sender: e:jeeitunes@gmail.com

Time: 06/23/19 07:22:05 AM (582992525)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: D384F4BA-ADFF-41E3-8B16-6BFA91D48DE9

Message: Any chance you coming to Europe

Time: 06/23/19 07:37:32 AM (582993452)

Flags: 1060865

HOUSE_OVERSIGHT_027820
"
IMAGES-010-HOUSE_OVERSIGHT_030277.txt,"10

the Tagammu, as well as by a large collection of NGOs and other
representatives of civil society.

To some extent, these general orientations shaped the stances,
whether for or against, in the referendum on the constitutional
amendments, which drew the first clear lines in the post-25 January
political map. In that referendum, the first camp obtained 77.2 per
cent of the vote versus 22.8 per cent for the second. However, it is
important to bear in mind that, in this referendum, a ""critical mass"" of
voters sided with the first camp because they felt that the amendments
bill offered the clearest path to the transition from revolutionary
legitimacy to the legitimacy of the established state, which is to say to
the return to normalcy that Egyptians desperately yearned for at the
time. But this sentiment will no longer be a major factor now that this
wish has come true and elections are at hand in September.
Therefore, it remains open which way this key group of voters will
swing in those elections, the results of which will be crucial to the
subsequent selection of the constitutional committee and then to the
choice of president.

Several factors will be instrumental in determining the impact of the
""critical mass"" of Egyptian voters. Foremost among them will be their
turnout at the polls. Only 41 per cent of the 45 million eligible voters
took part in the referendum. This relatively low figure could be
increased by increasing the number of polling stations, of which there
are only 44,000 at present, a factor that has long deterred all but the
most committed from braving long voting queues. Secondly,
although judicial supervision will now guarantee the integrity of the
polls and ensure that people's votes really do count, the proportional
electoral list system will yield very different kinds of results than
those produced by the individual candidate system. A third critical
factor will be campaign financing. Election campaigns and buying
television air-time in particular have become extraordinarily

HOUSE_OVERSIGHT_030277
"
IMAGES-001-HOUSE_OVERSIGHT_010571.txt,"minor females that the United States Attorney's Office recognized as a victim. L.M.’s swom
deposition testimony and the adverse inference drawn from Epstein’s refusal to testify confirm
that Epstein began sexually assaulting L.M. when she was 13 years old and continued to molest
her on more than fifty (50) occasions over three (3) years. Epstein Depo., Attachment #1, at 17
(“Q: Did you... — engage in any sexual conduct with L.M.?” A: [Invocation of the Fifth
Amendment].); see also Epstein Depo., April 14, 2010, Attachment #6, at 456 (""Q: LM was an
underage female that you first abused when she was 13 years old; is that correct?"" A: [Invocation
of Fifth Amendment].) .

8. Rpstein was also given ample opportunity to explain why he engaged in sexual
activity with L.M. beginning when L.M. was 13 years old and why he has molested minors on an
everyday basis for years, and he invoked his 5th amendment right rather than provide
explanation. See Epstein Deposition, February 17, 2010, at 11-12, 30-31 (Deposition
Attachment # 7). |

9, Epstein also sexually assaulted E.W., beginning when she was 14 years old and
did so on numerous occasions. See E.W. Depo., Attachment #4 at 215-216.

10. Another of the minor girls Epstein sexually assaulted was Jane Doe; the abuse
began when Jane Doe was 14 years old. Rather than incriminate himself, Epstein invoked the
5th amendment to questions about him digitally penetrating Doe's vagina, using vibrators on her
vagina and masturbating and ejaculating in her presence. Epstein Depo., April 14, 2010,
Attachment #6, at 420, 464, 468.

11. When Edwards’s clients L.M., E.W., and Jane Doe were 13 or 14 years old, each

was brought to Epstein’s home multiple times by another underage victim. Epstein engaged in
6

HOUSE_OVERSIGHT_010571
"
IMAGES-011-HOUSE_OVERSIGHT_032029.txt,"The U.S.-lsrael 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
"
IMAGES-010-HOUSE_OVERSIGHT_029726.txt,"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
"
TEXT-002-HOUSE_OVERSIGHT_032659.txt,"From: 
Sent: 
To: 
Attachments: 
Richard Kahn 
12/2/2017 4:52:49 PM 
Jeffrey Epstein [jeeyacation@gmail.com] 
IMG_4779.jpg 
Importance: High 
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 
Cell 
HOUSE OVERSIGHT 032659 
"
IMAGES-010-HOUSE_OVERSIGHT_030263.txt,"Office and staff would survive the Special Counsel's ouster and their
work preserved. And that actions taken by the Grand Jury would remain
in effect.

This, however, would probably not be true if the Attorney General
refused the next Special Counsel's budget request—due on July 1. That
would shut down the whole operation—the Special Counsel staff and
grand juries. There might, however, according to research the team has
prepared, be enough time between the order and the shuttering for the
Special Counsel to share the grand jury evidence with other federal
prosecutors, who might act on their own authority to pursue the
President.

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.

Early in June, the Special Counsel, believing that a pardon for
Michael Flynn was imminent, rushed to build a case that might form an
exception to the President's pardon authority. The argument, perhaps a
slim-thread one, tries to undermine what both the White House and
many outside legal authorities, and much of the Special Counsel's own
research, believes to be one of the few unchallengeable powers granted
the President. In effect, the Special Counsel continues the theme of it’s
case: 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 a ""corrupt"" action. The constitution is not a statute that
you might violate, but a larger covenant which you might offend (or,
equally, that might protect you). Since the President is in charge of
upholding the constitution and much of the constitution is about
preventing corrupt acts or abuses of power, the pardon, in the case of
Michael Flynn, is, the Mueller team is set to argue, unconstitutional.
What's more, since there is an impeachment process in place—or there
are impeachment resolutions before congress—and impeachment is the
province of Congress, a pardon of a potential witness in this

HOUSE_OVERSIGHT_030263
"
IMAGES-005-HOUSE_OVERSIGHT_020418.txt,"266

13. , Rajesh De, the NSA’s ...”—Rajesh De, “Former NSA Lawyer on ‘Harm’ of
Edward Snowden’s Revelations,” Bloomberg, July 27, 2015.
https://bol.bna.com/former-nsa-lawyer-on-harm-of-edward-snowdens-
revelations/

14. “The attack on Sony...”-- Rob Lever, “Some Experts Still Aren't Convinced
That North Korea Hacked Sony,” Business Insider, December 30, 2014

15. “The Chinese are viewed ...”--General Alexander quoted in: Kelley Vlahos,
“America’s Already-Failed Cyber War,” Zhe American Conservative, July 23,
2015

16. “We are bolstering our...”--Staff, “Black Budget: Congressional Budget
Justification Excerpt,” Washington Post, August 30, 2013

17. “These compartments were the...”—Author’s interview with Source B
18. “The queen on our chessboard. ..”—Author’s interview with Source A
19. “To confront flagging morale...”—Author’s interview with Michael Haydon

20. “The nation has lost ...”--Nicole Mulvaney,”NSA Director Adm. Michael
Rogers discusses freedom, privacy and security issues at Princeton University,”
N.J. com. March 14, 2015.
http://www.nj.com/mercer/index.ssf/2015/03/nsa_director_admiral_michael_ro
gers during _princet.html

“Although repairing the damage...”-- Rachael King, “Ex-NSA Chief Details Snowden's
Hiring at Agency, Booz Allen,” Wall Street Journal, February 4, 2014.

HOUSE_OVERSIGHT_020418
"
IMAGES-005-HOUSE_OVERSIGHT_019299.txt,"EMERY CELLI BRINCKERHOFF & ABADY LLP
Page 3

they were raw.” Notably, in these emails, Ms. [J mentions Professor Dershowitz, but she
does not allege that she was trafficked to or had sex with him.

As you know, Ms. EEE provided this information, on the record, to a New
York Post journalist with the expressed hope that it would be published. Although these
allegations, if credible, would have been the story of a lifetime — videos and eye witness
accounts of sexual misconduct by two presidential candidates, a former president, and one of the
world’s leading entrepreneurs— the New York Post declined to publish them, presumably, and
not surprisingly, because it did not find Ms. MM credible. Nonetheless, thereafter, Ms.
| represented by the same lawyers who represent the plaintiff in the above-captioned
case, was permitted to testify that Professor Dershowitz had sex with her. These same lawyers
have now provided documents to the Washington Post repeating the false charges, but have
failed to provide the Post with the emails that fatally undermine them. These selective
disclosures, and this use of the court’s protective and sealing orders “as a sword,” are manifestly
improper.

Professor Dershowitz intends to pursue all available remedies for violations of the
district court’s orders, including sanctions. That said, to remedy the gross imbalance in available
information created by counsel’s improper disclosures, we ask that the parties’ counsel
immediately agree to a stipulation, to be so-ordered by Judge Sweet, unsealing and removing the
confidentiality designations from Ms. HEEB emails. This will allow for full public
disclosure of these matters—where their falsity, exposed to the “sunlight” of public review, will
be manifest—and it will permit Professor Dershowitz to respond fully to the accusations
plaintift’s counsel leaked to the Washington Post. Only with such full disclosure can the public
decide who is telling the truth.

Please let us know your response to this request by noon on February 9, 2018.

Very truly yours,

Andrew G. Celli, Jr.

HOUSE_OVERSIGHT_019299
"
IMAGES-001-HOUSE_OVERSIGHT_010565.txt,"Scott Link
June 19, 2019
Page 6

The sexual abuse Mr. Epstein inflicted upon [MJ left irreparable psychological
scars. She has struggled and continues to struggle with her ability to maintain healthy
relationships with men and in general. Her career is permanently compromised and the
likelihood of recovering severed professional ties is non-existent.

Please contact us within ten days of this letter to advise whether Mr. Epstein is amenable
to attempting to resolve s civil claims without litigation.

Very truly yours,

ALLRED, MAROKO & GOLDBERG

ORIA ALLRED

HOUSE_OVERSIGHT_010565
"
IMAGES-010-HOUSE_OVERSIGHT_029732.txt,"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
"
IMAGES-006-HOUSE_OVERSIGHT_020878.txt,"Entitlement Spending: Lacks Sufficient Dedicated Funding

Entitlement programs were created with the best of intentions by
the Government. They serve many of the nation’s poorest, whose
struggles have been made worse by the financial crisis.

However, with the exception of Social Security (which was developed
with a pay-as-you-go funding plan and constructed to be legally flexible if
conditions change) and unemployment insurance (which was designed
to be flexible at State level), other entitlement plans (including Medicaid
and Medicare) were developed without sufficient dedicated funding.

Here we drill down on the funding trends for entitlement plans ...

KP
i USA Inc. | Income Statement Drilldown = 73

Entitlement Spending: Expenses Up 2x Over 15 Years

Annual Entitlement Spending Per Household = $16,600 per Year

USA Inc. Annual Entitlement Programs’ Total & Per-Household Expenses, F1995 — F2010
BAM an nee wo me en em OR TN ER a ST $20,000
mas Entitlement Programs Annual Expenses ($B)

$2,000
—— Entitlement Expenses per Household ($) $16,000

$400 Il
$0 i T

F1995 F1997 F1999 F2001 F2003 F2005 F2007 F2009

$12,000

$8,000

$4,000

USA Inc. Entitlement Total Expenses ($B)
&
aS)
o
oO
Entitlement Expenses per Household ($)

1 $0

Note: Data are not adjusted for inflation. Entitlement programs include Social Security, Medicare, Medicaid,

unemployment benefits, food & nutrition assistance, housing assistance and other. USA federal fiscal year ends in

P September; Source: White House Office of Management and Budget.
(@E) www.kpcb.com USA Inc. | Income Statement Drilldown 74

HOUSE_OVERSIGHT_020878
"
IMAGES-007-HOUSE_OVERSIGHT_023938.txt,"192 Teaching Minds

pursuits. Every university has underground lists, written by students,
about courses that are easy or professors who readily give good grades.
The real agenda of the majority of students is to take school just seri-
ously enough to graduate. If you offered them a diploma after 1 year,
most of them would take the deal.

This all brings me back to our aerospace friend. Why does he want
high schools to teach more math? Because he doesn’t want to teach it.
Teaching undergraduates becomes pleasurable at precisely the point
where you can teach the very courses this man teaches. He is teach-
ing highly technical courses, and, it is safe to assume, the students
who are taking those courses are there with serious intentions. They
want to become engineers and they want to know what he knows. So
he may well enjoy teaching them. But he certainly would not enjoy
teaching them calculus. There is a big difference in the experience of
teaching when you are teaching people who plan on working in your
field some day and when you are teaching a required course that stu-
dents wish they weren’t being made to take.

But why does it matter what this man enjoys teaching?

In the ideal university, the one professors at top-tier universities
would have if it were possible, professors, who consider themselves
primarily to be researchers in very specialized subfields, would teach
only work that directly related to their actual research or was impor-
tant for preparing future researchers in their field.

Professors at Yale get to be professors at Yale because they are either
potentially or actually the best in the world at something. While this
might not actually be true, it is certainly supposed to be true. When
a professor is proposed to be promoted (or hired for the first time) as
a full professor at Yale, the chair of his department must address a
meeting of all the other chairs and high officials and explain why the
professor in question is indeed the best in the world at what he does.
To do this, the chairs often have to define what he does extremely
narrowly to have it be at all credible. Isn’t there someone at Stanford
or Princeton who is just as good or, perish the thought, even better
than the candidate you propose? There better not be or this candidate
won't get voted in. So, somewhere in every professor’s mind is the idea
that he or she is the best at something or for assistant professors, soon
will become the best at something.

Under this kind of pressure, and this kind of egotism, a professor’s
first and foremost concern is attaining and maintaining that exalted

HOUSE_OVERSIGHT_023938
"
IMAGES-011-HOUSE_OVERSIGHT_031534.txt,"of Friday night lights. Baylor was making a statement — McLaneean Stadium is for all of us, not just for
Baylor Nation on college game day.

As | mentioned in a previous chapter, “Field of Dreams” brought into popular culture an abiding idea — if
you build it, they will come. Unlike a Midwestern corn field turned into a ghostly baseball diamond
summoning forth spirits from bygone days, McLaneean Stadium — which at Coach Briles’ insistence was
renamed (prior to opening) to carry the McLean family name rather than the institutionalized, plain-
vanilla “Baylor Stadium” — brought tens of thousands of fans and friends to the banks of the Brazos.
Season ticket sales skyrocketed. Games were now sold out. At the aging Floyd Casey Stadium, albeit
home to great memories over a half century, we worked hard to fill the seats. The occasional sell-out
would occur when, say, the Longhorns came to Waco and eagerly bought up the thousands of unwanted
tickets. That was then. Now, ESPN regularly brought “Game Day” to campus, and the prevailing colors
were the beautiful gold of the Baylor Line, with shades of Baylor green sprinkled in. The optics were
even better than at green-and-gold dominated Lambeau Field in Green Bay.

And so Sam Ukwuachu came. He had traveled way north from Houston, where he had done well
enough academically in high school but whose strength and speed attracted the attention of gridiron
programs across the country. He chose national powerhouse Boise State, but he was soon unhappy and
homesick. His head football coach looked after him, thought he should be closer to home, called Coach
Briles, and soon Sam was a Baylor Bear, although he never played football at Baylor. When Sam was
charged with the unspeakably horrible act of rape, he protested his innocence and defended himself
vigorously. Devastating testimony by a former girlfriend from Boise State — who contradicted Sam’s
testimony of non-violence — likely sealed his fate. The McLennan County jury found him guilty, but then
fashioned an oddly lenient sentence — probation. As! write, Sam continues to protest his innocence, and
to seek redress in the courts. But the jury verdict stands, and Sam is thus a convicted felon.

Explosion II

Even in the best of programs horrible deeds are done. We are a fallen race. Even young men from
“good families” succumb to temptation and allow themselves to enter the darkest of dark domains. The
nationally-debated case of the Stanford swimmer, convicted of rape but given a lenient sentence, once
again brought into sharp focus the problem of interpersonal violence on and around college campuses,
and in particular, sexual assault. National statistics were frequently reported to the effect that 1 in 5
young women are sexually assaulted (or are otherwise victims of interpersonal violence) during their
college years. Sam’s case provided the jumping off point for Texas Monthly’s provocative thesis that
with all of its vaunted success, Coach Briles’ program was infected by a culture of violence against
women.

HOUSE_OVERSIGHT_031534
"
IMAGES-004-HOUSE_OVERSIGHT_017825.txt,"Case 1:19-cv-03377 Document1-3 Filed 04/16/19 Page 2 of 3

Alan Dershowitz: ‘| never had sex with Virginia Roberts’ | Miami

a) miamiherald.com/opinion/letters-to-the-editor/article222532470.html

In its series on the Jeffrey Epstein case, “Perversion of Justice,” the Herald quotes an
affidavit by Virginia Roberts — a woman | never met — claiming she had sex with me on
Epstein’s island, ranch, plane and mansion. It then simply says | “denied” it.

In fact, | disproved it. | produced my travel, phone, credit card and TV appearance
records, conclusively proving that | could not have been and was not in any of these
places during the time Roberts knew Epstein. The former FBI director, assisted by a
former assistant U.S. attorney and a chief federal marshal, reviewed these records and
the other evidence and concluded that, “The totality of the evidence found during the
investigation refutes the allegations.”

There is other evidence, currently under seal, that directly establishes my innocence. | am
seeking to unseal emails between Roberts and a journalist, a book manuscript by Roberts
and a legal brief that are smoking guns showing that | was “deliberately framed for
financial reasons.”

ADVERTISING

inRead invented by Teads
There is also irrefutable evidence that Roberts lied about other people for money. She

told a British tabloid that she met Al and Tipper Gore on Epstein’s island and swore that
she had dinner with Bill Clinton on the island. But Secret Service records prove that none
of these people were on the island. Indeed, the Gores didn’t even know Epstein.

Get six months of free digital access to the Miami Herald

| have a tape recording of a conversation with Roberts’ closest friend in which she says
that Roberts told her she “felt pressure to go after [Dershowitz]” in order to obtain
money from a wealthy businessman, and that Roberts had never previously included me
among the people with whom she claimed to have had sex.

Finally, one of Roberts’ own lawyers has acknowledged in front of witnesses that her
claims against me are “wrong” “simply wrong.”

The evidence of my innocence is indisputable: | never met Roberts; | never had sex with
her; she simply made up the entire story for money.

Roberts made her false claims against me in court documents that immunize her from
being sued for defamation. | challenge her to repeat her false accusations out of court,
so that | can sue her for defamation and let a jury decide — after seeing all the evidence,

1/2

HOUSE_OVERSIGHT_017825
"
IMAGES-001-HOUSE_OVERSIGHT_012372.txt,"U.S. Departnent of Justice

Office of Legislative Affairs

i I i tt srs a

Office of the Assistant Attomey General Washington, D.C. 20530
November 9, 2007

The Honorable John Conyers, Jr.
Chairman

Committee on the Judiciary

U.S. House of Representatives
Washington, D.C. 20515

Dear Mr. Chairman:

This letter presents the views of the Department of Justice (the Department or DOJ) on
H.R. 3887, the “William Wilberforce Trafficking Victims Protection Reauthorization Act of
2007,” as introduced by Congressman Lantos on October 18, 2007, The Department has
significant concerns, which are detailed below in a section-by-section analysis. The proposed
legislation, as drafted, would eliminate the Department’s role in several important steps in the
victim identification process, and thereby negatively impact our ability to ensure the safety of
victims and their families, rescue additional victims, and apprehend and prosecute human
traffickers; it would broaden the criminal statutes regarding prosecution in a manner that detracts
from effective enforcement efforts and raises serious federalism implications; and it would
unconstitutionally intrude into Executive authority.

1. Sevtion 102

The provision in subsection (e)(2)(B) authorizing the Director of the Office to Monitor
and Combat Trafficking in Persons (G/TIP) at the Department of State to interview victims
should clarify that the Director is authorized to do so only with the consent of the Attorney
General in any case where an ongoing investigation or prosecution may exist. Otherwise,
serious issues could arise that would complicate or even scutile prosecution. For example, any
statements made to the Director would presumptively have to be turned over to the defense and
any statements that contradict statements made to law enforcement or prosecutors would be
required to be turned over to the defense.

2. Section 103

DOJ finds section 103 unnecessary and duplicative of existing efforts and, therefore,
opposes its inclusion in the bill. DOJ and other Federal agencies are already offering the types
of assistance that are described in the section. Furthermore, the new subsection (a)()(3) would
require the United States Government to provide “technical assistance to provide legal
frameworks and other programs to foreign governments and nongovernmental organizations to

HOUSE_OVERSIGHT_012372
"
IMAGES-008-HOUSE_OVERSIGHT_024974.txt,"17

toward nuclear disarmament. It will be many moons and unerringly
effective inspections before leaders in Washington and Moscow
contemplate such a course. Surely ElBaradei knows this.
Nonetheless, “The Age of Deception” provides the grist for serious
debate even as it helpfully chronicles the International Atomic
Energy Agency’s journey and tribulations as it evolved from a
relatively obscure group of technicians into an organization with
growing international clout. But if those following in ElBaradei’s
path think they can combat proliferation without the major powers —
particularly the United States — assuming a central role, they are
wrong. Checking proliferation will require more innovative and
tighter cooperation between the agency ElBaradei loves and the
United States, of which he no longer seems especially fond.

Leslie H. Gelb is president emeritus of the Council on Foreign

Relations, a former senior official in the State and Defense
Departments, and a former New York Times columnist.

HOUSE_OVERSIGHT_024974
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HOUSE_OVERSIGHT_027834
"
IMAGES-007-HOUSE_OVERSIGHT_023086.txt,"Chart 19: Sector EPS impact from ending Chart 20: Sector EPS impact from ending Chart 21: Sector EPS impact from ending
interest deductibility (15% rate; ex- fin, utes) interest deductibility (20% rate; ex- fin, utes) interest deductibility (25% rate; ex- fin, utes)
8% 6% 4% 2% 0% -12%10%-8% -6% -4% -2% 0% 15% — -10% -5% 0%

Energy -6.2%
Telecom -5.9%

Materials

Energy -10.2%
Telecom 96%

Materials

Energy
Telecom
Materials

Discretionary
Industrials
Real Estate
Staples
Health Care
Info Tech

Discretionary Discretionary
Industrials
Real Estate
Staples
Health Care

Info Tech

Industrials
Real Estate
Staples
Health Care
Info Tech

m 15% tax rate mw 20% tax rate mw 25% tax rate

Source: BofAML US Equity & Quant Strategy, FactSet, S&P Source: BofAML US Equity & Quant Strategy, FactSet, S&P Source: BofAML US Equity & Quant Strategy, FactSet, S&P

How will levered companies react?

Companies will likely grow comfortable with a smaller amount of debt, retain more
earnings, use less cash for dividends and share buybacks, and potentially draw down
cash if they have it. If a tax holiday is also granted, that might offset the loss of benefit.
Companies that regularly issue long-term debt may choose to reduce that burden to
offset the tax change, and find those funds elsewhere. We find it unlikely that the
change would result in a surge in equity issuance, unless the change applies to existing
debt, which is unlikely in our view. While this change should be taken as a line item ina
wholistic bill, there are victims and beneficiaries here. Corporations that have high
leverage ratios, low retained earnings, high interest expense to earnings ratios, no cash
overseas offset from repatriation, and those that have recurring long-term debt needs
may be most at risk.

Other implications

While some argue that companies will try to raise outsized amounts of investment grade
capital ahead of the deadline to lock in funding with the tax benefit before the loophole
is closed, there is a reasonable chance that a provision is included in the legislation that
would treat such debt as new debt. In our Investment Grade Strategist Hans Mikkelsen’s
view, demand for IG credit could be materially reduced over time. The tax change could
also dampen Leverage Buyout (LBOQ) activity, according to our High Yield strategist
Michael Contopoulos, where these funds are already struggling to generate high returns
—note that LBO funds are currently sitting on close to $1tn in cash looking for a home,
according to Preqin’s third quarter update.

Who could be hurt: See Table 21 for a screen of stocks with high net interest
expense as a percentage of net income which could potentially be hurt most by an
end to the deductibility of interest expense.

: : Bankof America
18 Equity Strategy Focus Point | 29 January 2017 Merrill Lynch

HOUSE_OVERSIGHT_023086
"
TEXT-001-HOUSE_OVERSIGHT_014432.txt,"﻿Global Cross Asset Strategy – Year Ahead
The Trump inflection
Investment Strategy
30 November 2016 Corrected
Key takeaways
• Market response to Trump is logical but moves have been frontloaded. We now see
USD & rates only modestly higher next year.
• We see higher growth and inflation, notably in Japan. We go long NKY, stay long EM
AXJ & selective yield in equity/ credit.
• Risk is an overshoot so we stay long USD/ short rates, adding a CNH put and short
10Y real rates. CNH a hedge vs trade risk.
Investment strategy
Global
James Barty >>
Investment Strategist
MLI (UK)
+44 20 7996 3291
james.barty@baml.com
See Team Page for Full List of Contributors
Trump extends some trends, starts others
In the three weeks since Donald Trump’s election victory global markets have seen some
dramatic moves. Som1e of those moves are extending trends that had already started –
higher yields, higher USD, rotation from long to short duration. Others are new – JPY
lower, NKY higher, EM lower. The key question is how much more they can go?
Growth/inflation higher in 17/18 - modest fiscal boost
Our economists think the fiscal impact of Trump will be modest at 0.5% on growth in
H2 next year. Fiscal stimulus elsewhere also to be modest but it is taking the pressure
off monetary policy. Growth was already improving so any fiscal stimulus helps. Our
economists have both growth and inflation higher into 2017 and 2018.
Inflection point in markets but much discounted already
Market moves at turning points are often violent. The task of investors is to work out
how much is already discounted. Our fixed income strategists have 10Y US yields at
2.65bp and bunds at 65bp at end 2017, also EUR/USD at 1.02 so moves look
frontloaded to us. That suggests their implications for other markets should fade.
Unauthorized redistribution of this report is prohibited. This report is intended for amanda.ens@baml.com
Evolution not revolution – long NKY, short 10Y real rates
If that is the case then we do not want to make wholesale changes to our strategy. We
make two key changes today, adding long NKY (Japan strategist targets 20k) and short
10Y real rates trades. The former is part of our strategy to be pro-growth and we think
it complements our long EM Asia trade being affected differently by USD strength.
The hunt for yield is dead, long live the hunt for yield
If yields only rise modestly next year then the hunt for yield will live on. We keep a yield
basket in European equities, AT1s and spread in Euro/US credit. We go outright long
European Healthcare by lifting our Food & Beverage short, which has dropped sharply.
Overshoot in rates, USD and trade key risks – add CNH put
The world would look very different if the US 10Y blew through 3% and the USD went
on a tear, so we stay long USD and short rates. We add a CNH put vs USD as a hedge
against an escalation of trade tensions under the new Trump administration.
>> Employed by a non-US affiliate of MLPF&S and is not registered/qualified as a research analyst under
the FINRA rules.
Refer to ""Other Important Disclosures"" for information on certain BofA Merrill Lynch entities that take
responsibility for this report in particular jurisdictions.
This document is intended for BofA Merrill Lynch institutional investors only. It may not be
distributed to BofA Merrill Lynch Financial Advisors, retail clients or retail prospects.
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 26 to 27. Analyst Certification on page 25. 11691609
Timestamp: 30 November 2016 12:00AM EST
Current trade recommendations
Table 1: Current cross asset trades
Asset Trade idea Strategist
Long European Quality Yield Screen (yield)
James Barty
Long SXDP Index
Ronan Carr
Equities
Long Nikkei
Shusuke Yamada
Long European index dividend futures
James Barty
Long MSCI Asia ex-Japan
Ajay Kapur
Long RTY short SPX 2y variance swap
Nitin Saksena
3000-2850 SX5E put spread Dec 16 expiry James Barty
Equity vol
Long NKY short SPX Dec 18 variance swap
Benjamin Bowler
Long SX5E short SPX Dec 18 variance spread
Abhinandan Deb
Eurostoxx 2y/3y put calendar
Abhinandan Deb
Short EUR/SEK
Kamal Sharma
Long USD/CNY call
Claudio Piron
FX
Short GBP/USD
Kamal Sharma
Long USD/AUD
Ian Gordon
Long RUB/ZAR
David Hauner
2s-5s-10s fly
Shyam S.Rajan
Fixed Income
Short US 10y real rates
Shyam S.Rajan
Paying 5y GBP real rate swap
Mark Capleton
Buy 30y US IG Industrial spreads
Hans Mikkelsen
Credit
Buy basket of Euro AT1s
Barnaby Martin
Long Xover short Main
Ioannis Angelakis
Source: BofA Merrill Lynch Global Research. For the full methodology and reference pricing please see Appendices. New trades in bold.
Themes
Long Cyclicality
• Long Asia EM – recovering growth, earnings revisions and cheap valuation.
• Long Nikkei – growth picking up, JPY soft, 20k target.
Long Yield
• Long European dividend yield stocks – 5% yield, big pick up over IG credit.
• Long Dec 18 SX5E dividend future – implies 4% drop from 2016, we see 4% rise.
• Long basket of AT1s – high yield, equity cushion to rise.
• Long XOver short Main – investors’ reach for yield to push them towards Crossover.
• Long basket of 30Y US industrial IG spreads – further spread compression.
Hedge the Fed/Trump
• 2-5-10 fly – 5Y part of the curve looks most vulnerable to Fed hiking.
• Short 10Y real yields – inflation breakevens have adjusted real rates have not.
• Long USD – long via USD/GBP and USD/AUD, we think policy divergence will drive
USD stronger if the Fed tightens as our economists expect.
• Long USD/CNH 7.6 6 month call – hedge against trade tensions
Hedge the Rest
• We are long SX5E, NKY and RTY vs SPX variance. Carry positive, convex in a sell-off.
• Long Dec 17/18 SX5E put spread. Long 3000-2850 Dec 16 put spread.
Alpha Trades
• Long European Pharma. Sector discounting no pipeline, valuation back to cheapest
since 2011. Solid yield too.
• Paying 5y UK real rates at -254bp. Implied inflation/rates inconsistent.
• Long RUB/ZAR (positive on oil, cautious on S African politics).
• Short EUR/SEK, strong Swedish growth, limiting room for Riksbank easing.
2 Global Cross Asset Strategy – Year Ahead | 30 November 2016
The Trump inflection
Changes today: Add NKY long, 10Y real rate short and CNH put, close forward
Kospi vol and Food & Beverage short. We are not making mass changes today. While
some of our trades have worked better than others post-election we are broadly happy
with the balance. We still want exposure to growth and to own yield where we can but
also want to protect ourselves from a further surge in the USD and rates.
We diversify our equity long in EM and European yield with a long Nikkei position.
It is not the best entry point but we suspect it has further to run on a one year horizon.
A stronger USD is good for Japanese equities where it is not for EM, so they
complement one another. We add a short US 10Y real rate trade too to protect
against rising US yields, as breakevens have already moved significantly. We close our
Kospi vol trade (changed view from strategists) and drop the short Food leg of our
Pharma/Food trade, reflecting the sharp sell-off in the long duration sectors of late.
Summary: Still be long growth and yield but hedge with USD and Rates
Year aheads are notoriously tricky to write and almost always wrong. Anyone who
wanted to correctly predict the outcomes and how markets would react to them in 2016
did not need so much as crystal ball as a time machine. As investors and strategists we
have to make calculations as to the most likely outcomes, where is the best upside to
play them and how best to hedge the risks around them.
Donald Trump’s election is in our view an inflection point for global markets,
starting new trends in some asset classes and extending trends in others. It does
not completely change the world though, as the disinflationary and weak growth
pressures that have plagued the world since the GFC are structural rather than cyclical.
But the shift to fiscal and populism is likely to boost growth and inflation, so it does
change the picture to a significant degree. If we are to call it an earthquake it is perhaps
a five rather than a nine on the Richter scale.
We have to adjust our way of thinking though. The rise in rates and higher USD that
we had hedged against now look like they are going to go further. That is going to
hurt longer duration assets. So we continue to run our long USD positions and add to
our short rate positions (via 10Y real rates). There is risk around trade and geopolitics,
which has to make us more nervous of our EM positions. So we diversify our risks by
pairing our long EM position with a long Japan position and add a CNH put.
But the world is not completely changing. Even in the new order we only forecast 10Y
Treasuries at 2.65% and Bund yields at 65bp end 2017. So the hunt for yield will not
disappear completely. We still want to own yield, but as we have said of late it cannot
be yield for yield’s sake. Yield in equity markets has been safest in the shortest duration
buckets, such as Banks and Cyclicals since the summer. We changed our yield basket last
month is this direction so we keep it. We stay long AT1’s and in credit we keep our
spread trades both in Europe and the US.
AND we remind investors of something we said at the start of 2016, be prepared
to trade the ranges in markets. If there was one lesson of the last year it was that.
When assets get very loved and overbought, sell them, when it is the opposite you have
to buy them. Think of buying EM and commodities in February. Think of selling
defensive equities and bonds and buying banks post-Brexit. None of us will get that
right all of the time, but the Warren Buffet maxim “be greedy when others are fearful
and fearful when others are greedy” is particularly useful in current markets.
Finally, as cross asset investors think about what can go wrong with your positions
and find asymmetric hedges for them if you can. That should be the edge you have at
looking across the range of asset classes compared to single asset class investors.
We would like to thank our BofAML colleagues who have supported our product this
year by providing many such ideas and trust they will continue to do so through 2017.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 3
X Asset Strategy: Long growth, short bonds, long USD but
the hunt for yield lives on
Clearly markets are different and will continue to be so under President elect Trump
BUT not everything will change. The disinflationary forces triggered by the GFC have
not gone away but the decision to focus on fiscal stimulus, not just in the US but also
Japan and to a lesser extent the UK, is a welcome shift taking some of the burden away
from monetary policy. It means rates should be higher for any given amount of growth.
But higher does not mean a return to pre GFC levels of rates, which we need to bear in
mind when setting our strategy. Indeed, our strategists 10Y forecasts are US 2.65%,
Euro 0.65% and Japan 0% for end 2017.
Similarly on trade, for all the rhetoric of the President-elect again we do not think he
wants to trigger trade wars that would damage US growth. That means we should not
necessarily drop our pro-EM bias.
So we think of it as an evolution rather than a revolution in the way our strategy is
structured. We wanted to be exposed to growth, we tweak that by adding a NKY long to
replace our US energy long. We continue to have yield in the portfolio where we can find
it, which is through a mixture of equities and credit (AT1’s, European yield basket, Xover
v Main and US long date industrial spreads).
Even more than before we want to be protected against a stronger USD and higher
rates, hence the addition of the 10Y real yield trade, and trade tensions which we have
tried to cover through our CNH put.
Nov 8 th accelerates some trends, starts other
Before the US election we said that the tectonic plates were starting to shift, with bond
yields having troughed and starting to head higher. We thought there were signs too
that global growth might be shifting up a gear. So we wanted to have defensive
positions in bond markets, be long the USD and be long growth where we could. The
election of Donald Trump has arguably turned this gradual shifting of plates into a full
blown earthquake for global financial markets.
The key questions for investors as we look ahead to 2017 are how big an earthquake
and how much the moves that have happened since November 8 th are likely to be
extended into next year vs how much we have frontloaded them already in 2016.
Chart 1: USD/JPY has surged post-Trump
Chart 2: As have bond yields
125
2.5
120
115
JPY/USD
2.3
2.1
10y UST yield
110
1.9
105
1.7
100
1.5
95
1.3
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Source: Bloomberg
Source: Bloomberg
4 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Chart 3: EM debt and equity have been hit
Chart 4: While Banks versus Staples has gone ballistic
950
900
850
800
750
700
650
Oct-15
Nov-15
Dec-15
MSCI EM
Wisdom Tree EM Local Debt Fund
(RHS)
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
40
39
38
37
36
35
34
33
32
0.43
0.41
0.39
0.37
0.35
0.33
0.31
0.29
0.27
0.25
Oct-15
Nov-15
Dec-15
Jan-16
S&P 500 Banks relative to Food & Bev
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Source: Bloomberg
Source: Bloomberg
The moves since Nov 8 th have certainly been violent in certain asset classes. USD/JPY
stands out, but the sell-off in US treasuries has been very marked, the hit to EM fixed
income equally big, while in equity markets the outperformance of the Russell, the surge
in the US banks and the sell-off in long duration equities has been remarkable.
Some of these moves, such as stronger USD, higher yields, banks vs staples were
extensions of moves that had already begun. Others, such as Russell vs S&P, JPY, Nikkei,
were the start of new moves where 8 Nov marked a key turning point.
The moves that had already started are now getting quite stretched with US 10Y yields
up 5 standard deviations from the July low, with US Banks up by a similar amount vs
Staples. The USD/JPY move though is more like a 2 SD move, with the NKY similar (if
we exclude the 7% drop on US election day).
Peak liquidity, deflation, inequality and globalisation – watch for Peak Trump
So what does a Trump presidency mean for the world? Michael Hartnett, our Chief
Investment Strategist sums it up nicely with four of his seven peaks. Peak liquidity –
the era of excess liquidity is over; Peak inequality – with fiscal stimulus to address
inequality; Peak globalisation- free movement of trade, labour and capital ending, FX
wars starting; and Peak deflation – the secular low point in bond yields now behind us.
We would add a peak to that which investors need to bear in mind – Peak Trump. What
we mean by that is at what point do the policy changes of the Trump presidency get
fully discounted in markets. We have moved pretty quickly to do that but we suspect
there is more to go, even if the quick returns have probably already been made.
If we think about these peak questions, the two that stand out to use as obvious and not
really open to challenge are Peak liquidity and Peak deflation. The Fed left its peak
liquidity position behind ages ago, the BOJ has moved to yield rather than liquidity
targeting, the BOE may extend its current programme of QE one more time but then is
probably done and even the ECB is talking about tapering, even if they are unlikely to do
it in December. The Peak deflation theme follows on from this with the secular low in
bond yields surely behind us if the central banks are stepping away from flooding the
world with ever more liquidity.
Peak liquidity/deflation means higher yields – inflation expectations adjusting
The question then is how much yields will likely rise from here. Much of course depends
on how quickly inflation picks up. Markets have already moved to price in a significant
pick-up in expected inflation as the two charts below show. To our mind breakeven
inflation rates had been too low for too long, which is one reason we wanted to be
defensive in bond markets. It would seem to us that inflation expectations are now up
with events. US headline CPI at 2.5% is consistent with the Fed modestly overshooting
Global Cross Asset Strategy – Year Ahead | 30 November 2016 5
its 2% core PCE target. Our economists think that the Fed may well aim a little high in
the short term on inflation to ensure they have sufficient room to ease in the event of a
downturn. However, it is unlikely that the Fed would tolerate a sustained overshoot of
their inflation objective. That is particularly the case if the Fed under President Trump is
made more hawkish as our economists think it probably will be (see Liquid Insight:
Trump’s stamp on the FOMC).
Chart 5: US 5Y5Y forward inflation back towards 2.5%
3.3
3.1
2.9
2.7
2.5
2.3
2.1
1.9
US 5y5y fwd inflation swap
1.7
Chart 6: Euro 5Y5Y forward inflation up to 1.6%
2.8
2.6
2.4
2.2
2
1.8
1.6
EUR 5y5y fwd inflation swap
1.4
1.2
Source: Bloomberg
Source: Bloomberg
Equally, our economists in Europe are sceptical on the ECB’s ability to get inflation to
rise significantly from current levels. Optically there is scope for European breakevens
to head higher if the ECB were to be successful but investors are likely to want to see
some evidence of rising inflation first before they price that in. We will return to this
below. For now we agree with our fixed income strategists that the rise in inflation
expectations is probably sufficient and that any rise in yields from here has to be one of
higher real yields.
They think such a rise as a tightening of monetary conditions which may be self-limiting
in the short term, particularly as the fiscal boost in the US is likely to be back loaded in
terms of 2017. If rates move too quickly and the USD follows before the fiscal stimulus
kicks in they could actually dampen growth. Indeed, our US economists have shaved
their near term growth forecasts already to reflect the current moves. They do not
expect the fiscal stimulus to start to boost growth before the 3 rd quarter.
Fiscal + hawkish Trump Fed means we stay short 5Y US via 2-5-10 butterfly
Our fixed income team estimated how much fair values of the different parts of the
curve would have to move were the market to move into line with the dot plot. Updating
those estimates for the move since their publication we find 2Y rates can move another
11bp, 5Y 39bp and 10Y 33bp. They argue that given we are past the inflection point for
rates, with fiscal policy being eased and now with a more hawkish Fed under Trump
likely, the dot plot should form the floor not the ceiling for rate expectations. All of this
translates into a view that 10Y yields can push to 2.65% by the second half of 2017.
Given their views on the curve we continue to run the 2-5-10 butterfly. It has moved
from around -10bp to +10bp since the election, and our fixed income strategists have
moved their target to +20bp.
6 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Chart 7: 5Y yields to continue to underperform
0.5
0.4
0.3
0.2
0.1
0
-0.1
2s-5s-10s US fly
-0.2
Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16
Source: Bloomberg
Chart 8: Real rates likely to feel the pressure going forward
3.5
3
2.5
2
10y US TIP yield
1.5
1
0.5
0
-0.5
-1
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: Bloomberg
Peak globalization/inequality means higher real rates – short 10Y US real rates
Our fixed income team make the point that globalization has been a driving force behind
lower real rates as it has been good for EM growth and reserves. Those reserves then
found their way back into the US holding real rates lower. They argue that as the global
savings glut unwinds real rates have room to re-price. Peak inequality also means an
unwind of globalization as politicians seek to protect workers from the depressing
effect on wages coming from overseas. Donald Trump has already said he intends to
charge China with being a currency manipulator. Whether he does or not and what
action he takes to accompany it remains to be seen, but artificially low currencies
generating high current account surpluses are unlikely to go down well with the new
administration. That lends weight to the fixed income team’s arguments.
Peak inequality may also mean less migration across the world – think Trump’s
arguments on illegal immigration from Mexico and Theresa May’s desire to limit
migration into the UK post Brexit. Less migration likely means more upward pressure on
wages, which is the inflation expectations side of the argument. But Michael Hartnett
also thinks it means more action on fiscal policy. The UK government have implemented
a £24bn infrastructure fund in the Autumn statement. Donald Trump wants to trigger up
to $1tn of infrastructure spending in the US in addition to the tax cuts.
The fiscal boost should push real rates higher (at least in the short term). Some Fed
members have acknowledged this suggesting that equilibrium interest rate might be
moved higher by fiscal stimulus. The rates team also rightly says while they want to be
bearish rates given the speed of the move so far it is also right not to be foolish. Given
how much inflation expectations have moved they think there is better risk reward in
real rates. They argue the 10Y real rate is the most vulnerable to further moves higher in
rates. Although they have already risen from around zero in the summer to ~50bp now
they think 10Y real rates can reach 1%. So we add that trade to our 2-5-10s position.
Implications for other asset classes: Stronger USD, weaker EM?
The forces impacting on markets from the Trump victory have not been confined to
rates markets, although it is probably fair to say that most (although certainly not all) of
the impact stems from the move in rates. Higher US rates have meant a stronger USD,
an outperformance of short duration over long duration equities, a hit to EM debt and all
forms of carry trades.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 7
Chart 9: USD breaks to new highs
105
DXY Curncy
100
95
90
85
80
75
Chart 10: As Treasury yields open big gaps with Europe and Japan
2.7
2.5
2.3
2.1
1.9
1.7
1.5
US 10y yield
10y Bund yield (RHS)
10y JGB yield (RHS)
1
0.8
0.6
0.4
0.2
0
-0.2
Source: Bloomberg
1.3
-0.4
Oct-14 Feb-15 Jun-15 Oct-15 Feb-16 Jun-16 Oct-16
Source: Bloomberg
The USD is a case in point, with the higher US rates creating a significant gap to
equivalent Euro and JPY rates. With the ECB likely to extend QE by the full current
amount (despite the debate over timing) and the BOJ committed to capping JGB yields
at zero, a surge higher in the USD was the logical outcome. Given that the biggest gap
in intentions was relative to Japan it is perhaps not surprising that the JPY has been the
biggest victim, with the JPY falling some 10% against the USD since the election. The
DXY has broken out of the top end of the trading range it has been in since early 2014.
The stronger USD is not just reliant on higher yields, but also other factors such as the
likely repatriation of money into the US under a new proposal for US corporates to
return funds at a concessionary tax rate, generally referred to as HIA2.
We had positioned long USD as well as short rates, not so much as an explicit play on a
Trump victory but more against a more hawkish Fed in 2017. We were also of the view
though that a Trump win would likely be positive for the USD and higher yields. Going
back to our fixed income strategists’ point that the dot plot should now perhaps be the
base case for the markets that does imply higher yields which should continue to be
dollar supportive. Like their bond yield forecasts though our strategists call for a
modest further appreciation of the USD rather than a huge surge. They have the USD
peaking at 1.02 vs the EUR, 120 against the JPY and 1.43 vs the CAD.
So the big violent move has likely happened even if we still see the USD strengthening
further next year. Certainly our FX strategists are not calling for a surge in the USD
similar to the one that happened in 2014/15.
The reaction of the US economy to “Trumponomics” is key
These two things are important for other asset classes. If we really thought 10Y
Treasuries were heading to 3%, the Fed likely to tighten above the dot plot and the USD
to surge another 10% in quick order, the impact on other asset classes would likely be
more severe. That would undoubtedly exacerbate the trends we have seen out of EM
and long duration equities. We also suspect it would make it much harder for
commodities to perform. We see holding USD and short rates positions as necessary to
hedge against such an outcome with limited downside risk if it does not happen.
8 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Chart 11: Dollar strength leads to immediate trade drag (inverse
relationship)
1.5
1.0
0.5
0.0
-0.5
-1.0
-1.5
Contribution of net exports to real GDP (lhs, pp)
Real trade weighted USD, QoQ (rhs, % yoy)
-2.0
Q2-2013 Q1-2014 Q4-2014 Q3-2015 Q2-2016
Source: Federal Reserve Board, Bureau of Economic Analysis
6%
4%
2%
0%
-2%
-4%
Chart 12: Expected path of fed hiking cycle (bp)
200
180
160
140
120
100
80
60
40
20
0
Current market pricing
Median dot, Sep-16 SEP
BofAML forecast
0 4 8 12 16 20 24
# of meetings into tightening cycle
Source: BofA Merrill Lynch Global Research, Federal Reserve, Bloomberg
Nevertheless it is not our central scenario in part because there is a risk that much of a
Trump surge could be bad for growth. As we noted above the fiscal stimulus is likely to
be back loaded as far as 2017 is concerned. In the meantime the FX and Rates teams
predict an 8-10% appreciation of the USD from pre-election levels and 10Y rates about
80bp higher. Our economists note that a 10% appreciation of the USD is estimated to
slice around 0.5% off of US GDP growth over two years. Higher mortgage rates from
higher bond yields would also likely dampen growth. As a result, they have actually
lowered their forecast for US growth in the first half of next year to around 1.5% before
seeing it rebound to around 2.3% in H2 and then 2.5% in 2018 as the fiscal stimulus
feeds through.
Various Fed members, notably Bill Dudley of the NY Fed, have said this year that a
stronger USD would have an impact on monetary policy. So to some extent we see USD
strength as self-limiting as it would start to lower the profile of likely Fed tightening.
Our economists are also cautious as to the extent of the impact of the Trump fiscal
plans. Assuming that there is a compromise between the Trump administration and
Congress our economists think the likely scale of tax cuts is $2-3tn over 10 years, with
$200-300bn of this in 2017. Given the low estimated multiplier from any proposed tax
cuts and a Congress likely to limit the amount of an increase in government spending,
they look for a modest 0.5% boost to growth.
Upside risk to growth and rates if Trump does more on fiscal, less on trade
If Congress passes more of the Trump stimulus plan, particularly on the infrastructure
side, and there are no significant changes to trade or immigration policies then our US
economists think growth could potentially hit 3% in 2017 and 3.5% in 2018. That would
likely be accompanied by a faster pace of Fed hikes than they currently assume (which is
two hikes between now and end 2017 followed by 3 in 2018).
Trade policy and its impact vital
The other key factor of the new administration is going to be the direction on trade.
President elect Trump has already said he will pull out of the TPP, TTIP looks likely to
get the same treatment, while NAFTA is set to be renegotiated. Meantime Trump said
he will label China a currency manipulator. This is the other side of the Peak
Globalisation/Peak Inequality coin and none of it looks good for global trade. Combined
with the stronger USD and higher rates, it is easy to understand the knee jerk reaction
of investors to sell EM asset, particularly given the gains of earlier this year.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 9
Chart 13: China could be named a currency manipulator
7
6.9
6.8
CNY/USD
6.7
6.6
6.5
6.4
6.3
6.2
6.1
6
Source: Bloomberg
Chart 14: But world trade has slowed – would Trump make it worse?
15
10
5
0
-5
-10
World Trade growth (%)
-15
Jan-72
Jan-75
Jan-78
Jan-81
Jan-84
Jan-87
Jan-90
Jan-93
Jan-96
Jan-99
Jan-02
Jan-05
Jan-08
Jan-11
Jan-14
Source: WTO, BofA Merrill Lynch Global Research
The question for investors is whether Trump the candidate or Trump the deal making
businessman will eventually be the driver behind trade policy. It is not impossible to
imagine the President-elect gaining some concessions from his hard line stance and
then claiming victory. After all, since one of his aims is to get the US economy growing
at 4% a year, a prosperous global economy to export into is probably preferable to one
that is taking a hit from an aggressive US trade policy. That is the inclination of our EM
strategists and economists, so they are expecting the reality to be softer than the
rhetoric.
At this stage we have to acknowledge that it is little more than an educated guess. It
makes us less certain of our long EM equity position than we were. Nevertheless, we
had already switched it out of an MSCI position into an Asia ex Japan in part because of
US election risks and our strategists are particularly upbeat about Asian markets. They
think they are cheap, they are positive on China and they think growth and hence
earnings will surprise on the upside.
What about the rest of the world? Growth has been improving
Growth indicators have been improving around the world of late. Data since the US
election would seem to support that with the PMIs in the Euro Area improving again and
their equivalent in the US sustaining the gains seen last month. Our EM indicators
remain robust and our China ACT indicator continues to indicate steady growth there
too.
Our economists forecast 3.5% global GDP growth with EM growth around 4.7%. Our
Euro Area growth numbers have been nudged back up towards 1 ½% with Brexit not
proving to be as much of a drag as feared. We still expect the UK economy to see
something of a slowdown in 2017 as the lagged effect of the fall in the pound hits
consumer incomes. Perhaps our most optimistic view of the world, relative to
consensus, comes from Japan where with fiscal policy turning more supportive (we put
the package at 1.5% of GDP) we see growth at 1.4% in 2017.
10 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Chart 15: Eurozone PMI’s point to solid growth
60.0
58.0
56.0
54.0
52.0
50.0
48.0
46.0
44.0
42.0
EA Services PMI EA Manufacturing PMI
40.0
Aug-09 Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16
Source: Markit
Chart 16: Japanese growth expected to accelerate in 2017
3.0
2.0
Forecasts
1.0
0.0
-1.0
-2.0
2011 2012 2013 2014 2015 2016 2017
Private demand
Public demand
Net exports
Real GDP growth %YoY
Source: BofA Merrill Lynch Global Research forecasts, CAO
It is a decent global growth picture and it is not impossible to imagine it being still
better should the US surprise on the upside and the impact on trade from a Trump
presidency prove to be modest.
It certainly fits with the Peak Deflation theme since this stronger growth is expected to
be accompanied by a pick-up in inflation. We have core PCE in the US reaching 1.9%
next year in our core scenario. Our headline inflation numbers are higher because of the
expected increase in the oil price from our commodity strategists. Indeed with oil
expected to reach $60pb (OPEC permitting) headline CPI inflation in the US could push
3%. In the Euro Area we see headline inflation rising to 1.2%, albeit with core inflation
only nudging modestly higher. UK inflation is expected to move markedly higher care of
the lower pound, again with headline inflation pushing towards 3%. In Japan driven by
our more optimistic view of the economy we project core CPI at 1%.
Chart 17: BofAML sees GDP accelerating into 2018…
Global GDP growth % DM GDP growth % EM GDP growth %
4.7
5.1
3.2
4.1
3.1
4.1
3.5
3.8
2.1
1.5
1.7
1.9
Chart 18: …with inflation picking up too
Global CPI inflation % DM CPI inflation % EM CPI inflation %
4.2
3.6 3.6
3.8
2.5 2.4
2.8
3
1.7 1.8
0.7
0.3
2015 2016F 2017F 2018F
Source: BofA Merrill Lynch Global Research
2015 2016F 2017F 2018F
Source: BofA Merrill Lynch Global Research
Politics – does populism strike again, this time in Europe?
Few would have predicted both Brexit and a Trump win in 2016. Both had something to
do with the Peak Inequality and Peak Globalisation themes. Politicians on both sides of
the Atlantic tapped into a deep disquiet, particularly amongst white male blue collar
voters that they were not benefitting from this new globalised world. If opinion polls are
to be believed (something which we have all learnt to question) then Italy may well end
the year with another vote against the governing party - although that one is perhaps a
little more complicated to dissect. We recently added a put spread on the eurostoxx to
hedge against such a bad outcome here, which would be the case if it is perceived to be
Global Cross Asset Strategy – Year Ahead | 30 November 2016 11
supportive of the 5 star movement or threatened the recapitalisation of the Italian
banks (see Strategy Insights: Italy risks elevated).
In 2017 the focus turns to core Europe, especially France and Germany. Because of the
winner takes all system in France we find investors are more concerned with the
situation there. Marine Le Pen and the Front National look likely to make it to the
second round of voting (again according to polls) and until the vote comes in we suspect
investors will be cautious about European markets. A Le Pen victory could likely bring
the future of the EU and the Euro into question as she has talked about France
withdrawing from both. That in turn has arguably the potential to be even more of an
earthquake for the world’s financial markets. Our central case is that centre right
President is elected in France (with Francois Fillon now the official Republican
candidate) and Merkel is returned at the head of a coalition government in Germany.
Chart 19: German polls show a consistent lead for Merkel’s CDU party
40
35
30
25
20
15
10
5
0
100
90
80
70
60
50
40
30
20
10
CDU SPD AfD 0
Chart 20: Fillon well ahead of Le Pen in polls showing a potential run-off
12-14
April
15-17
April
13-16
May
10-12
June
14-17
June
9-11
Sept
Francois Fillon (%) Marine Le Pen (%)
25-Nov 27-Nov
Source: Allensbach (15-Sept, 13-Oct), Emnid (7-Sept, 14-Sept, 21-Sept, 28-Sept, 5-Oct, 12-Oct, 19-
Oct, 26-Oct, 2-Nov, 9-Nov, 19-Nov), Forsa (2-Sept, 9-Sept, 16-Sept, 23-Sept, 30-Sept, 7-Oct, 14-Oct,
21-Oct, 28-Oct, 4-Nov), Forschungsgruppe Wahlen (22-Sept, 13-Oct, 27-Oct, 10-Nov), GMS (14-Sept,
12-Oct, 12-Nov), Infratest dimap (21-Sept, 5-Oct, 19-Oct, 2-Nov), INSA (5-Sept, 12-Sept, 19-Sept, 26-
Sept, 3-Oct, 10-Oct, 17-Oct, 24-Oct, 2-Nov, 7-Nov, 14-Nov, 22-Nov), Ipsos (10-Oct)
Source: Ifop (12-14 Apr, 14-17 Jun), BVA (15-17 Apr, 13-16 Mar, 10-12 Jun, 9-11 Sept), Odoxa (25
Nov), Harris Interactive (27 Nov). Note: all 2016.
Were this to be the case then we think there may well be room for a significant relief
rally in European assets. Until then we think it likely investors will demand a higher risk
premium.
Brexit was the big political topic for Europe going into 2016. Going forward we see it as
an ongoing issue but mostly for the UK. The political uncertainty is likely to be extended,
even after Article 50 is triggered as any significant negotiations probably need to await
the outcome of the French and German elections. We expect the UK economy to
struggle as the lagged effect of the fall in the currency hurts consumers and while there
may be contrarian trades available in the GBP during 2017, our strategists think it goes
lower first on the triggering of Article 50.
12 Global Cross Asset Strategy – Year Ahead | 30 November 2016
X Asset Trade Ideas
Rates – short 5Y US nominal and 10Y real rates, short 5Y UK
real rates
As discussed above on the rates side we keep our 2-5-10’s butterfly but add a 10Y short
real rates trade, to reflect the view of our fixed strategists that if yields are to go higher
then real rates will need to move. So we will not repeat the analysis here.
Chart 21: Markets do not expect the BOE to react…
4
3
2
1
0
-1
-2
-3
5y UK nominal 5y UK real 5y UK inflation
-4
Chart 22: …to a sustained overshoot of its inflation target
3.7
UK 5y5y inflation swap fwd
3.6
3.5
3.4
3.3
3.2
3.1
3
2.9
2.8
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Source: Bloomberg
Source: Bloomberg
The other fixed income trade we continue to like is short 5Y UK real rates. The market
continues to discount the Bank of England consistently overshooting its inflation target
without a response on monetary policy. Yet Governor Carney and other members of the
BOE’s MPC have said that while they are willing to look through a short term inflation
shock they would not tolerate a sustained overshoot.
The market therefore is pricing something which suggests that the BOE will sacrifice its
credibility on the inflation side to (presumably) support growth. We would rather take
the side of the Bank in this situation. It is worth bearing in mind too that those on the
right of the Conservative party who have been critical of Governor Carney and the BOE
have tended to want higher not lower short rates. When the PM and Chancellor have to
replace the Governor at the end of 2018 it is unlikely that they are going to choose
someone more dovish.
FX – long USD, short GBP, AUD, CNH
We have been long USD since August believing the risk reward to be skewed in favour
of a stronger currency because we saw more room for the Fed to tighten than other
central banks. Given the fiscal stimulus expected from the new administration the risks
on that tightening profile have been skewed to the upside. We think the FX and Fixed
Income strategists are right to think of the dot plot as a floor now for markets. With
yields still needing to move higher to get there that should put further upward pressure
on the USD. The scope for gains though depends on the currency. The Euro is already
just 3.5% from the target for next year whereas both the GBP and the JPY have about 7-
8% to fall to our FX team’s targets. The team also continue to like short AUD positions
as they think this also captures risk off in the event of concerns over China.
Whilst the short GBP has only worked modestly since the US election, we continue to
think Brexit uncertainties will weigh on the currency into 2017 and our FX strategists
target 1.15 in the aftermath of the article 50 decision.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 13
Chart 23: AUD fell post US elections…
Chart 24: …GBP has held up so far but article 50 looms in Q1
0.8
1.55
0.78
0.76
0.74
AUD/USD
1.5
1.45
1.4
1.35
0.72
1.3
0.7
0.68
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
1.25
1.2
1.15
Oct-15
Nov-15
Dec-15
Jan-16
GBP/USD
Feb-16
Mar-16
Apr-16
May-…
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Source: Bloomberg
Source: Bloomberg
Today we add a CNH put (expressed as a USD/CNH call at 7.6 strike) partly because it
fits with our positive USD call but also because it is a potential hedge against the trade
rhetoric of the new administration descending into something more meaningful. Given
the stated intent to declare the Chinese as currency manipulators and the concern that
our currency strategists already have about the amount of reserves the Chinese hold, it
is not impossible to imagine a much weaker CNY/CNH should the Chinese authorities
allow a free float. We see this as a sensible hedge against our long EM equity position.
Chart 25: CNH continues to weaken, risk of more on trade tensions?
Chart 26: RUB/ZAR choppy on oil and SA politics
6.9
6.8
CNH/USD
0.25
0.24
6.7
6.6
6.5
6.4
0.23
0.22
0.21
6.3
6.2
0.2
0.19
RUB/ZAR
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Source: Bloomberg
Source: Bloomberg
We have two other standalone currency trades, short EUR/SEK and long RUB/ZAR. The
former has dropped as the EUR has weakened against the USD. We continue to think
that the Swedish economy is more robust than the Eurozone and that the Riksbank will
sooner or later have to adjust monetary policy accordingly. We see a lot more room for
this pair to move in 2017, particularly if there are political concerns ahead of the French
presidential elections as these will likely weigh on the EUR.
RUB/ZAR has been quite erratic since we re-established the trade, reflecting both
volatility in the oil price and developments in South African politics. The latest no
confidence vote against President Zuma underlines how tricky South African politics are
at the moment. Concerns will remain on the economic progress of the country until the
political situation becomes clearer. In the meantime we expect a higher risk premium to
be associated with the currency.
14 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Equities: Add long Nikkei to EM Asia
Global equity markets have gone in very different directions post the US election. EM
have fared worst, Europe little changed, S&P at new all-time highs, the Russell and
Nikkei on a tear higher. This is not how we were positioned so we need to ask the
question of whether and what we need to change.
Table 2: MSCI EM Asia at a 2PE point discount to other equity markets
MSCI EM
Asia 12m
fwd PE
MSCI Japan
12m fwd PE
MSCI Europe
12m fwd PE
MSCI US
12m fwd PE
Latest 11.9 14.1 14.3 17.0
Min 7.6 9.7 7.4 10.4
Max 18.5 44.5 23.9 25.2
Av 11.5 18.2 14.0 15.9
SD 1.8 6.8 3.4 3.2
Z-score 0.2 -0.6 0.1 0.3
%ile 68% 31% 60% 73%
Source: BofA Merrill Lynch Global Research, MSCI, IBES
Chart 27: Japan relatively cheap at 14.1x fwd earnings
50
45
40
35
30
25
20
15
10
5
0
MSCI Japan 12m fwd PE
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
If we stand back from the noise and just look at the valuations, the US is the most
expensive, MSCI Asia ex the cheapest in absolute terms. Our strategists see decent
earnings growth likely to come through in EM Asia, and while there is upside to US
earnings estimates from potential corporate tax cuts at least part of it is priced in.
Savita Subrahamian has a target for the US of 2300 in her year ahead Euphoria or fiscal
fizzle?, an upside of a less than 5%. Our European strategists have an upside of around
6%. So that leaves EM Asia and Japan (given our 20k target) as the stand outs according
to our equity strategists. Indeed, the PE of Japan is towards the bottom end of the
range since 2000.
Sticking with EM Asia
One of our concerns on EM was a more hawkish Fed and therefore a stronger USD. So
we regarded our positions in those asset classes as something of a hedge to our EM
positions. As we explained above we are keeping that stance as on our central scenario
there is more to go and on a risk scenario where bond markets overshoot the USD is
likely to follow.
In the equity world, if our fixed income and FX forecasts are right, then we do not see
them as being an impediment to our EM Asia position working again. Our EM strategists
remain upbeat and Ajay Kapur actually upgraded his call to buy from a tactical pause
post the election (A Call to Action: Time to BUY Asia/EMs). They think the right focus is
one on growth rather than the USD and we continue to be upbeat on the prospects for
EM growth, particularly in Asia. Ajay in particular makes the point that Chinese nominal
GDP growth has been accelerating and that tends to be very good for Asian equity
markets. Nigel Tupper’s global wave has continued to improve and he argues that
remains consistent with strong performance from Asia ex Japan equities.
Source: BofA Merrill Lynch Global Research, MSCI, IBES
Global Cross Asset Strategy – Year Ahead | 30 November 2016 15
Chart 28: The world economy is improving – broad-based recovery –
good for Asia/EMs
Chart 29: EM cyclicals outperform as China’s NOMINAL GDP recovers.
More to go.
100
Based on 29
1200
180
MSCI EM cyclicals/EM defensives price index, LS
China Bloomberg Monthly GDP Estimate YoY +…
24
80
1100
160
Cyclicals = energy, materials, consumer
19
60
1000
140
14
900
120
9
40
Percentage of Countries with…
MSCI EM, RS
20
1/11 1/12 1/13 1/14 1/15 1/16
800
700
100
80
1/05
1/06
1/07
1/08
1/09
1/10
1/11
1/12
1/13
1/14
1/15
1/16
1/17
4
-1
Source: BofA Merrill Lynch Global Research, Haver, Bloomberg
Source: BofA Merrill Lynch Global Research, Bloomberg. Assumed GDP estimate for October-16 to be
similar to that for September-16.
The question then is whether the strong USD or trade tensions from the new Trump
administration can outweigh the more positive macro backdrop. We are inclined to back
the view of our strategists and think that it will, so we are sticking with our long EM
Asia position. We are doing so with hedges via a long USD and a CNH put.
Long Nikkei: target 20,000
We had previously paired our long EM position with a long US oil equity position, but
with our US strategists downgrading the sector ahead of OPEC we removed it earlier
this week. We were therefore looking for another pro-growth trade to run alongside our
EM position. Long Japanese equities seemed the logical place to look. While we
acknowledge we have missed the lows and that today’s entry point may not be ideal, we
suspect investors are not particularly long Japan yet since it was still showing as
modestly underweight in the last Fund Manager Survey.
Chart 30: Net % AA say they are overweight Japanese equities
60
Asset Allocation: JP Equities
140
40
130
120
20
110
0
100
-20
90
-40
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
80
FMS Net% say OW JP Equities, lhs
JP Performance vs World, rhs
Source: Thomson Reuters Datastream
Source: BofA Merrill Lynch Global Fund Manager Survey
Our Japanese equity and FX strategist Shusuke Yamada has been arguing for a while
that we would see both a weaker JPY and a rebound in Japanese equities. While arguably
the JPY had turned beforehand, the Trump victory turbo charged the move. As the chart
shows below Japanese equities do well historically during a period of bear steepening of
the US yield curve. Our economists are also more upbeat on Japan thinking the weaker
USD, the new policy stance of the BOJ and the fiscal stimulus will push growth and
inflation higher next year.
16 Global Cross Asset Strategy – Year Ahead | 30 November 2016
The combination of these factors suggest Japanese equities have further to run. We also
see the position as being complementary to our EM position since whereas a stronger
USD is a drag on EM performance, it is beneficial for the NKY position.
Chart 31: Japan equities have outperformed during US bear-steepening led by cyclicals, banks and
insurance
12
10
8
6
4
2
0
-2
-4
-6
-8
-10
-12
Japan Sector = cyclical outperform on
UST bear-steepening
USDJPY DXY MSCI JP MSCI JP /
ex JP
Discretionary Financials Materials IT Industrials Energy Telecom Staples Utilities Health care
Bear steep Bear flat Bull steep Bull flat
Source: BofA Merrill Lynch Global Research, Bloomberg.
Curve movements based on 2yr move and 2s10s move (Bloomberg US Treasury yield index), so includes twist movements, but even if we exclude these implications do not materially change.
Bear steepening (2yr + 16bps, 2s10s +33bps) = 11 quarters, bear flattening (2yr +26bps, 2s10s -20bps) = 10 quarters, bull steepening (2yr -48bps, 2s10s +28bps) = 10 quarters, bull flattening (2yr -
27bps, 2s10s -30bps) = 12 quarters
Long Europe equities via yield stocks & index dividends
We continue to run two yield related trades in European equities. First, we remain long a
broad selection of high yielding European equities. The dividend yield on offer in
European equities is one of the asset class’s key attractions. Europe offers a higher
dividend yield than the other regions, with a 1.1% yield pick-up versus the DM average
and 0.9% against EM equities. Those also look attractive relative to history: Europe’s
yield spread to DM ranks at the 87 th percentile of the 20-year range. Europe’s DY also
looks attractive relative to sovereign and corporate bonds despite the recent sell off in
fixed income markets: the yield pick-up relative to investment grade corporates is still
289bp. Given the concerns over European politics we prefer yield based strategies in
Europe to those looking for capital appreciation at least in the short term.
Chart 32: Equity DYs remain attractive relative to credit & sov bond
yields
5
4
3
2
1
0
-1
-2
Stoxx 600 DY less 10yr Bund yield
-3
Stoxx 600 DY less Euro IG credit yield
2004 2006 2008 2010 2012 2014 2016
Source: BofA Merrill Lynch Global Research, Bloomberg, Datastream
Chart 33: Europe offers a yield premium vs global equities too
2.0
1.5
1.0
0.5
0.0
-0.5
MSCI Europe less
-1.0
EM DY spread
-1.5 MSCI Europe less
DM DY spread
-2.0
12/80 12/84 12/88 12/92 12/96 12/00 12/04 12/08 12/12
Source: BofA Merrill Lynch Global Research, MSCI, Datastream
European Yield Screen
The rising rates backdrop has left yield not quite as scarce as it has been, but we
continue to think investors should own yield where they can get it at decent value, such
as in European equities. Last month we recommended investors rotate out of lower risk
Global Cross Asset Strategy – Year Ahead | 30 November 2016 17
defensive dividend stocks to take advantage of the improving cyclical backdrop and
rising bond yields. That meant our November screen included a high proportion of
Financials. This somewhat remains the case but we note the addition of several
industrial companies in our latest screen. As a reminder, to qualify the stock must be
SXXP listed stocks with at least €2bn market cap, 4% DY, 1.2x DPS cover, 0% DPS 2YR
CAGR and qualifying stocks must be on a Buy rating from our fundamental analysts. The
yield on the basket is 5% with an average DPS CAGR of 7% and 1.8x covered.
Table 3: European Yield Screen – December 2016
Sedol BofAML ticker Company name Sector Divi Yield (>4%) DPS 2Y CAGR Div'd Cover
426330 DNBHF DNB ASA Banks 4.2 23.9 2.0
B545MG XERSF SWISS RE AG Insurance 5.4 5.2 2.1
457481 MDIBF MEDIOBANCA SPA Banks 4.9 8.0 2.4
B1LB9P SZCRF SCOR SE Insurance 5.3 4.3 1.9
BZ5739 ING ING GROEP N.V. Banks 5.3 4.6 1.7
538003 NRDEF NORDEA BANK AB Banks 6.6 2.1 1.3
BDVZYZ ROYMF ROYAL MAIL PLC Industrial Goods & Services 5.0 4.2 1.8
458882 DNSKF DANSKE BANK A/S Banks 4.4 5.5 2.0
596651 SCGLF SOCIETE GENERALE Banks 5.6 0.6 2.0
021623 AIVAF AVIVA Insurance 5.1 9.9 1.8
B23K0M CTAGF CAPITA PLC Industrial Goods & Services 5.7 2.5 2.1
522603 SAXPF SAMPO PLC Insurance 5.4 4.6 1.2
481334 SVKEF SKAND ENSKILDA BKN Banks 5.8 3.7 1.4
B17BBQ IVTJF INVESTEC Financial Services 4.4 10.0 1.9
528983 EBKOF ERSTE GROUP BK AG Banks 3.6 12.5 3.1
766716 ATASF ATLANTIA SPA Industrial Goods & Services 4.9 11.2 1.3
B83VD9 MNGPF MAN GROUP PLC Financial Services 5.8 15.1 1.2
B5ZQ9D EVKIF EVONIK INDUSTRIES Chemicals 4.4 2.9 1.7
B01FLG GFSZF G4S Industrial Goods & Services 3.9 5.6 1.6
BGLP8L IMIAF IMI Industrial Goods & Services 4.0 4.0 1.5
Source: BofA Merrill Lynch Global Research, Factset. The European Quality Yield Screen identified as a screen above is intended to be an indicative metric only and may not be used for reference purposes or as a measure of performance for any
financial instrument or contract, or otherwise relied upon by third parties for any other purpose, without the prior written consent of BofA Merrill Lynch Global Research. This screen was not created to act as a benchmark.
Long SX5E 2018 Index dividend futures
With our second dividend related trade, we remain long SX5E 2018 index dividend
futures (DEDZ8), a trade where we continue to see value even with the future price
trading close to the high for the year. The 2018 contract implies a 4% decline in
dividends paid from the 2016 level. In the absence of a recession, we think that is too
pessimistic – 2013 was the last year to see a material 2-year decline in dividends (in the
wake of the sovereign crisis and recession). The 2018 contract also still trades at a
discount to the level implied by our stock analysts’ DPS forecasts. Our derivative
strategists using BofAML forecasts for 2018 estimate 8% upside from current prices.
Although the upside is now more limited the risk around this trade is also much lower
now. The pull to par effect will become the dominant driver over the coming months and
the full year results should provide clarity on where the 2018 contract will settle.
18 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Chart 34: SX5E dividends: 2-yr implied growth in 2018 still looks
cautious
10%
5%
0%
-5%
-10%
2 year growth implied / realised %
-15%
2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: BofA Merrill Lynch Global Research, Bloomberg
Chart 35: BofAML’s SX5E Dec18 div forecast implies 8% upside
ESTX50 Div (index points)
150
140
130
120
110
100
90
80
70
89.0
89.3
83.4
71.4
83.3
99.0
ESTX50 realised dividends
Dividend futures
Consensus
BofAML
121.9
146.5
158.6
Source: BofA Merrill Lynch Global Research, Bloomberg
123.1
117.1
115.2
112.8
124.3
115.6
109.8
114.1
114.9
118.5
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
124.8
117.3div
pts paid in
2016 YTD
European equities: switch to outright long Healthcare
We switch our European sector pair trade preferring Healthcare over Food & Beverage
into an outright long in Healthcare. Both sectors have suffered versus the market from
the rotation out of defensives and bond proxies. That has reduced the valuation of the
Food & Beverage sector to less extreme levels. Meanwhile Healthcare looks very
attractively valued and we see compelling risk reward in the sector on an outright basis
at current levels.
The fundamental bull case for Health rests on the strong pipeline of new products for
the big cap pharma universe. Our sector analysts forecast EU Pharma to deliver a 2018-
21E EPS CAGR of 11%, up from mid-single digit levels in recent years. Historically that
would justify a PE re-rating and a multiple for the pharma sub-sector nearer 17-18x
than the current 13x 2018 PE.
Chart 36: Extreme overvaluation in Food & Bev has moderated
1.80
1.70
1.60
1.50
1.40
1.30
1.20
1.10
1.00
0.90
Food & Bev 12m fwd PE relative
0.80
2001 2003 2005 2007 2009 2011 2013 2015
Source: BofA Merrill Lynch Global Research, Datastream, IBES, Bloomberg
Chart 37: Healthcare PE – back near market multiple and patent cliff
lows
1.70
1.60
1.50
1.40
1.30
1.20
1.10
1.00
0.90
HealthCare 12m fwd PE relative
0.80
1999 2001 2003 2005 2007 2009 2011 2013 2015
Source: BofA Merrill Lynch Global Research, Datastream, IBES, Bloomberg
We believe the Republican clean sweep in the US elections represents a positive
catalyst as it significantly decreases the potential for legislative initiatives to
aggressively control drug pricing in the US. The catalyst for the sector to re-rate will
come progressively from newsflow around new products. The next 12 months should
see progress on this front with several of the European large caps expected to announce
key data on important drugs in 2017.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 19
Healthcare’s forward PE is now down to just a 7% premium relative to the market and
nearing the valuation lows recorded in 2010-12 when the patent cliff was at its worst
and pipelines were very weak. Today pipelines are twice the size they were in 2011 and
innovation is the key to growth in the sector - pricing power remains strong in drug
categories with differentiated products.
Credit: Long Spreads in Europe and US
Europe: Long Xover short Main
Rate cuts are off the table it seems, as central banks are starting to recognise the side
effects of NIRP. This reinforces our view that a continuation of CSPP, entails that the
reach for yield will extend to those assets that have not seen it yet; long Crossover vs
iTraxx Main.
The beta outperformance has already started in the cash market. We look at synthetics
and we see that Crossover has not mirrored that performance. Even though XO has
outperformed recently, it still has further to go to close the gap vs cash market’s
performance.
Ioannis Angelakis thinks that rising political risks in the following twelve months are
more likely to weigh on iTraxx Main performance than Crossover, as Main has higher
concentration vs XO on names domiciled in countries with elections.
Buy 30y US IG Industrial spreads
US high-grade is the market our colleagues in Credit Strategy are most bullish into
2017. Hans Mikkelsen thinks IG corporate spread maturity curves super-flatten as global
credit investors do the twist - i.e. sell shorter maturities and buy the long end. Foreign
inflows are now concentrated in the back-end, as credit spreads have rallied while the
cost of currency hedging increased. That means that only the back end of the steep US
corporate spread curve offers enough spread to overcome the high cost of currency
hedging. The flip side is that the front end of the US credit spread curve is very
unattractive and we expect domestic and foreign investors to accelerate their selling of
shorter maturity US corporate bonds. Overall, Hans expects the 30yr corporate bond
part of the market to generate 8%-9% total returns next year.
Chart 38: High grade spread forecast
250 HG Spread (bps) Forecast
200
150
135
120
115
100
Chart 39: High grade returns forecast
Excess Return (%) Total Return (%)
6.0
5.2
4.0
3.8 3.5
2.0
0.0
-2.0 -1.6
-0.6
4.0
Source: BofA Merrill Lynch Global Research
Source: BofA Merrill Lynch Global Research
Long AT1s basket
Contingent capital continues to offer a compelling premium to European HY and lower
volatility than bank equity. The asset class also received a boost last week when the
European Commission submitted a proposal for AT1 coupons to be prioritized over
common dividends and bonuses if the bank breaches its combined buffer. This placates
one of the main concerns investors have, i.e. that banks could decide to skip a coupon
payment but maintain their dividend. The confirmation of the role of AT1s in Pillar 2
capital is another example of regulators providing clarity on how contingent capital fits
within the overall capital structure. The main short term risk for the trade is the fate of
the Italian banks recap, so we will be watching closely to see how that develops.
20 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Chart 40: European AT1s offer a compelling yield for total return investors
8
Stoxx Banks 12m fwd DY (%) Coco Index yield (%)
7
6
5
4
3
Source: BofA Merrill Lynch Global Research, Bloomberg, Datastream, IBES
Volatility: Sticking with Relative trades
While 2016 started off with a bang volatility wise it has ended with a whimper. Neither
Brexit nor the US presidential election proved to be anything more than a blip. Realised
vol in the S&P 500 over the last 100 days is just 9.5%. That compares to 13.6% for the
Eurostoxx 15.1% for the Russell and 21.8% for the NKY.
Chart 41: Neither the Trump election…
45
40
35
30
25
20
VIX Index
Chart 42: …nor Brexit led to a sustained period of higher volatility
45
40
35
30
25
20
15
10
15
10
V2X Index
Source: Bloomberg
Source: Bloomberg
That is why we prefer relative variance trades. They tend to carry flat to positive but
have convexity to the downside. We are happy to continue to run these trades into 2017
and then use shorter term instruments to hedge specific events.
We did this around Brexit and have recently bought a 3000-2850 Eurostoxx put spread
to hedge our European exposure around the Italian referendum. While a No vote is
expected we are not sure what the aftermath will look like and there is considerable
uncertainty over the bank recapitalization of the banks afterwards.
We also have a calendar put spread in eurostoxx which tends to pay off best around the
2500-2600 levels so that remains something that we will look to keep for now given
downside risks in Europe over the first half of next year.
One trade we are taking off today is our Kospi forward vol position. We had held that as
a hedge against a China hard landing. Our derivative strategists no longer like it and we
have no opted for a currency hedge for our China risk, as discussed above.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 21
Risks to trades
Equity trades
• The risks to long divi basket & Pharma trades are a steepening of rates curves and
better than expected growth outside of Europe causing investors to rotate out of
bond proxies. Plus our analysts’ expectations of improved earnings from the
healthcare pipeline not coming through.
• The risks to trade dividend future trade is lower than expected profits for major
European sectors, e.g. Banks, Oils, causing a correction in dividend expectations.
• The risk to EM Asia ex-Japan is from a stronger USD and faster than expected US
rates hiking cycle. Trade tensions with the new US administration an additional risk
now.
• Risk to long Nikkei trade is a reversal of JPY weakness or a change in policy by the
BOJ.
Fixed income trades
• The risks to the US rates trades are a dovish Fed responding to a tightening of
monetary conditions before the fiscal boost kicks in. Disappointment on the fiscal
stimulus also a risk. The risk to the UK inflation trade is that the BoE doesn’t
respond to expected rising inflation by raising rates faster.
• The risks to the Industrial spreads trade is a deterioration of US industrial growth
and step away from credit purchasing by ECB/ BoE.
• The risks the AT1 trade are the ECB pulling out of the credit markets causing a
correction in the riskier portion of the market and bank profitability deteriorating
raising concerns about default.
• The risks to our XOVER trade are Eurozone growth disappointing and a risk-off
event in markets causing a flight to quality amongst credit investors.
Volatility trades
• Our equity vol trades are hedges, the risks are that they expire worthless due to the
lack of a financial event in China and persistent low vol spread in equity markets
supported by higher growth.
FX trades
• The main risk to our FX trades is of a more dovish than expected Fed, a more
hawkish than expected BOE, improved politics in South Africa/weaker oil price and
a more dovish Riksbank.
22 Global Cross Asset Strategy – Year Ahead | 30 November 2016
Appendix 1: Methodology
This publication is aimed at multi-asset institutional investors who tend to have a longer
term time horizon for their investments. As such, we will be looking to come up with
ideas that will have a minimum six month horizon and ideally longer than a year. The
individual trade ideas will be sourced from our strategists across BofA Merrill Lynch
Global Research.
This publication is not meant to be an agglomeration of all the trade ideas published by
BofAML Global Research strategists, but instead represents those that fit with our
longer term themes (as opposed to shorter term tactical trades). In addition, there may
be several different trade ideas published by BofAML Global Research strategists across
different asset classes that seek to leverage off of the same theme. In most cases we
will seek merely to take the trades that have the best risk adjusted return. By risk
adjusted we mean the risk undertaken in a trade vs the likely return on that trade. In
considering that we will look at the underlying volatility in the individual asset class. This
will be combined with our own view of what the likely downside is in an adverse
scenario vs the payoff in the expected scenario and our own assessment of the
likelihoods of such scenarios.
Once selected it is assumed that the trade would likely be retained for a minimum of six
months (as per the selection rationale). Should any analyst change their view on the trade
and cease to recommend it, then it will be immediately removed from our list 1 . Equally
should our target be met for a trade and the relevant strategist feels it has run its course
then it will also be removed (see footnote). Otherwise we will review our trades on a
monthly basis in this publication. If we feel a new trade idea has a better risk adjusted
return than an existing one in the same asset class then we would replace it.
The objective of the trades is that they would be suitable for a typical objective of the
multi-asset fund managers, which is typically framed in terms of a Libor+ benchmark
(this can be anything from Libor +300bp to Libor +700bp). That return is also coupled
with a target volatility, for example half MSCI ACWI volatility. The volatility target will,
of course, be a function of the expected return, but there is a general focus on
producing lower volatility returns. Our set of trades should not be regarded as a
portfolio but a collection of ideas to implement in a multi-asset portfolio.
Appendix 2 – Recommended COCO bonds
Table 4: COCO basket
ISIN Bond Issuing entity Price Mid YtM
XS1055037177 ACAFP 6.5% EUR Perp-21 CREDIT AGRICOLE SA 100.5 5.4
XS1002801758 BACR 8% EUR Perp-20 BARCLAYS PLC 100.9 7.1
XS1033661866 BBVASM 7% EUR Perp-19 BANCO BILBAO VIZCAYA ARG 91.1 7.1
XS1073143932 NYKRE 4% EUR 2036-21 NYKREDIT REALKREDIT AS 102.4 2.7
XS0972523947 CS 5.75% EUR 2025-20 CREDIT SUISSE 107.6 3.6
DE000DB7XHP3 DB 6% EUR Perp-22 DEUTSCHE BANK AG 78.3 6.7
XS1043545059 LLOYDS 6.375% EUR Perp-20 LLOYDS BANKING GROUP PLC 97.5 5.7
XS1171914515 RABOBK 5.5% EUR Perp-20 COOPERATIEVE RABOBANK UA 98.5 5.5
XS0867620725 SOCGEN 6.75% EUR Perp-21 SOCIETE GENERALE 98.8 5.9
XS1107890847 UCGIM 6.75% EUR Perp-21 UNICREDIT SPA 84.5 7.7
Source: BofA Merrill Lynch Global Research *As of 28/11/2016 close
1
Under these circumstances, we will publish a note immediately.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 23
Appendix 3 – Indicative pricing/ levels
Table 5: Latest indicative pricing/ levels for cross asset trades
Asset Trade idea Indicative price / level
Long European Quality Yield Screen (yield) 5%
Long SXDP Index 681.6
Equities
Long Nikkei 18307
Long European index dividend futures 113.4
Long MSCI Asia ex-Japan 525.7
Long RTY short SPX 2y variance swap 3.7**
3000-2850 SX5E put spread Dec 16 expiry 1.20%
Equity vol
Long NKY short SPX Dec 18 variance swap
6vols
Long SX5E short SPX Dec 18 variance spread
6vols
Eurostoxx 2y/3y put calendar 1.99
Short EUR/SEK 9.762
Long USD/CNH call
0.56%USD
FX
Short GBP/USD 1.250
Long USD/AUD 1.342
Long RUB/ZAR 0.213
2s-5s-10s fly (bp) 11
Fixed Income
Short US 10y real rates (bp) 50
Paying 5y GBP real rate swap (bp) -254
Buy 30y US IG Industrial spreads (bp) 187
Credit
Buy basket of Euro AT1s 5.80%
Long Xover short Main (ratio) 4.22x
Source: BofA Merrill Lynch Global Research, Bloomberg. Note: *all levels and prices as of 29/11/2016 at ~3pm or most recent local market
close. **This is a theoretical level which may differ from actual tradable prices. ***This level is obtained by bootstrapping At-the-money
forward volatility levels, does not represent a tradable instrument. The tradable strike of an FVA will likely differ considerably.
Appendix 4 – Closed trades
Table 6: Closed trades
Asset Trade idea Strategist Open date
Closed
date
Long Nikkei Kenji Abe 22/01/2016 01/04/2016
Long MSCI EM 1x 1x call ratio Ajay Kapur 01/03/2016 18/04/2016
Equities
Long MSCI EM 1x 1x call ratio
Long US Energy
Ajay Kapur
Savita Subramanian
01/03/2016
07/09/0216
18/04/2016
28/11/2016
Long MSCI EM Ajay Kapur 19/04/2016 30/09/2016
Long SXDP Index vs Short SX3P Index Ronan Carr 22/01/2016 28/11/2016
Long June V2X call spread collar Abhinandan Deb 01/04/2016 18/04/2016
Long Kospi fwd vol 6M/18M William Chan 22/01/2016 28/11/2016
Equity vol
Short June V2X put Abhinandan Deb 01/04/2016 Expired
Long (30-35) V2X Jul call spreads Abhinandan Deb 18/06/2016 Expired
Long 2050-1950 S&P 500 Jul put spread Abhinandan Deb 18/06/2016 Expired
Long NOK/USD Kamal Sharma 01/03/2016 04/05/2016
Long RUB/ZAR David Hauner 22/01/2016 17/05/2016
FX
Short EUR/SEK
Long JPY/KRW
Kamal Sharma
Adarsh Sinha
22/01/2016
22/01/2016
08/07/2016
31/03/2016
Long USD/CAD Ian Gordon 28/07/2016 07/07/2016
Short EUR/JPY Athanasios Vamvakidis 21/01/2016 30/09/2016
Short EUR/USD Athanasios Vamvakidis 08/07/2016 04/11/2016
Short EUR 5Y5Y inflation breakevens Ralf Preusser 22/01/2016 23/01/2016
Buy 30y real rates (bp) Ralf Preusser 22/01/2016 24/05/2016
Receive EUR pay US 5y5y fwd (bp) Ralf Preusser 22/01/2016 27/05/2016
Fixed Sell 6m 2s-5s-10s OTM receiver fly Shyam R. Rajan 07/09/2016 08/09/2016
Income
US +15y IG credit (total return) Hans Mikkelsen 22/01/2016 04/05/2016
US +15y IG credit (Govt OAS) Hans Mikkelsen 04/05/2016 28/07/2016
Paying 2y3y GBP real rate swap Mark Capleton 02/09/2016 12/10/2016
3y 2s-10s US flattener Shyam R. Rajan 27/05/2016 10/10/2016
Source: BofA Merrill Lynch Global Research. Trades closed in this report (or recently) in bold.
24 Global Cross Asset Strategy – Year Ahead | 30 November 2016
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://www.theocc.com/about/publications/character-risks.jsp
Analyst Certification
We, James Barty, Abhinandan Deb, Barnaby Martin, Benjamin Bowler, Claudio Piron,
David Hauner, CFA, Hans Mikkelsen, Ian Gordon, Ioannis Angelakis, Kamal Sharma, Mark
Capleton, Ritesh Samadhiya, CFA, Shusuke Yamada, CFA and Shyam S.Rajan, 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 Adviser to Anima Holding SpA in
connection with its proposed bid, as part of a consortium including Poste Italiane SpA
and Cassa Depositi e Prestiti SpA, for the acquisition of the asset management
business, Pioneer Global Asset Management SpA, currently owned by Unicredt SpA,
which was announced on 10 November 2016.
BofA Merrill Lynch is currently acting as Financial Advisor to Mediobanca SPA in
connection with its proposed acquisition of 50% of Banca Esperia from Mediolanum
Group, which was announced on 17 November 2016.
Global Cross Asset Strategy – Year Ahead | 30 November 2016 25
Disclosures
Important Disclosures
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
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26 Global Cross Asset Strategy – Year Ahead | 30 November 2016
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Global Cross Asset Strategy – Year Ahead | 30 November 2016 27
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28 Global Cross Asset Strategy – Year Ahead | 30 November 2016
"
IMAGES-001-HOUSE_OVERSIGHT_012414.txt,"? —

non 4 MD oO FP W LD

~0929104. TXT

MR. TEIN: You are improperly objecting,
Mr. Leopold. You have no grounds to object. And
that's not an objection.

MR. LEOPOLD: It is an objection.

MR. TEIN: Then terminate the deposition if
you think it's been asked and answered.

MR. LEOPOLD: Counsel, | am not precluded
from just making an objection to the form of the
question. As the courts wel! know, and if you
practice here in West Palm Beach, many of the
judges require you to set the objection with
specificity. And 1 will do that. And if you
don't want me to, you can make the record. But |
will do that.

MR. TEIN: Here's what we'll! do, Ted. You
can -- | will allow you to reserve an objection to
form for every single one of my questions.
Otherwise, all you're doing is obstructing.

MR. LEOPOLD: | won't do that.

MR. TEIN: Of course; because you want to

obstruct.

23
MR. LEOPOLD: ATt right.
BY MR. TEIN:
Q. Saige, you think that giving testimony
today, under oath, is bull s-h-i-t, don't you?
A. No.
Q. And you wrote that to your friend on
MySpace last week, didn’t you?
MR. LEOPOLD: Objection. Asked and
Page 19

HOUSE_OVERSIGHT_012414
"
IMAGES-003-HOUSE_OVERSIGHT_014694.txt,"Case 1:15-cv-07433-RWS Document 539-9 Filed 01/06/17 Page 1of1

REDACTED
EXHIBIT MM

HOUSE_OVERSIGHT_014694
"
IMAGES-011-HOUSE_OVERSIGHT_031252.txt,"° 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.

° During the convention, attendees including you and Richard Dawkins went for dinner with the student
and volunteers for Dawkins’ foundation.

° Afterwards, the student invited you to join the volunteers for a drink.

° You asked her to come get you in your hotel room. She was wary of your intentions, and so brought a
male friend with her. Opening the door to find them both there, you informed her you had decided not to go.
° You met this student again at the American Atheists Convention in Des Moines, lowa, in April 2011.

° You pulled over a chair for her in the bar, and then started running your hand up her leg under the
table.

° She tried to shift her body away from you, and you persisted in putting your hand on her leg. She

crossed her legs, and you kept trying. Then she turned her entire body away.

HOUSE_OVERSIGHT_031252
"
IMAGES-010-HOUSE_OVERSIGHT_029054.txt,"wealth that they took in the 15 years leading up to the crisis was not hit at all, and I think
that’s one of the fuels of this populist revolt that we’re seeing as the tea party. So I think
there are many, many measures, particularly about getting the banks on better footing,
making them address all the liquid assets they have. I think you need a real clean-up of
the banks balance sheets.

In addition, I think you really need to go back and make banks do what they do:
Commercial banks lend money, and investment banks invest in entrepreneurs and to get
away from this trading — you know, the hedge fund securitization, which they’ve all
become basically trading operations and securitizations and not put capital back and
really grow businesses and to grow the economy. So I think it’s a whole area that just —
and I will tell you, the underpinning of this populist revolt is the financial crisis of 2008.
That revolt, the way that it was dealt with, the way that the people who ran the banks and
ran the hedge funds have never really been held accountable for what they did, has fueled
much of the anger in the tea party movement in the United States.

Questioner: Thank you.

Bannon: Great question.

Questioner: Hello, Mr. Bannon. I’m Mario Fantini, a Vermonter living in Vienna,
Austria. You began describing some of the trends you're seeing worldwide, very
dangerous trends, worry trends. Another movement that I’ve been seeing grow and
spread in Europe, unfortunately, is what can only be described as tribalist or neo-nativist
movement — they call themselves Identitarians. These are mostly young, working-class,
populist groups, and they’re teaching self-defense classes, but also they are arguing
against — and quite effectively, I might add — against capitalism and global financial
institutions, etc. How do we counteract this stuff? Because they're appealing to a lot of
young people at a very visceral level, especially with the ethnic and racial stuff.

Bannon: I didn’t hear the whole question, about the tribalist?

“One of the committees in Congress said to the Justice Department, 35 [bank] executives,
I believe, that they should have criminal indictments against — not one of those has ever
been followed up on.”

HOUSE_OVERSIGHT_029054
"
IMAGES-002-HOUSE_OVERSIGHT_012874.txt,"experiments were related in one way or another to Hannah Arendt’s thoughts about Adolf Eichmann and
the fact that good people are capable of horrific things: the banality of evil. Hiding behind every average
Joe is a person equipped with an engine of malice. Banality is the veil of evil. Thus, the American
psychologist Stanley Milgram showed that normal people were capable of shocking innocent others when
an authority figure told them to do so; of course, there were no shocks, but the subjects believed they
were real. Similarly, the American psychologists Solomon Asch and Philip Zimbardo showed that
normal people followed group attitudes and instructions, bleating like mindless sheep, no reflection, no
critical thinking, no concern about the consequences of their actions. In Zimbardo’s study — the famous
Stanford prison experiments — run of the mill undergraduates playing the role of prison guards turned
into little dictators, mentally and physically abusing their run of the mill undergraduates playing the role
of prisoners. Together, these studies seemed to support a blank slate view of the mind, a tablet waiting for
inscription by the local culture, with no constraints on the written matter.

A closer look at many of these studies reveals far more variation in how individuals responded,
suggesting that differences in their genetic make-up and personal experience either facilitated their
willingness to follow authority and ideology or prevented it. Many subjects in both the Milgram and
Zimbardo studies refused to follow the orders or rules of the game. Those who refused tended to identify
more with the victim and less with the authority figure or ideology. This suggests important differences in
the capacity to experience empathy and compassion for another. Studies by the cognitive neuroscientist
Esse Viding show that by the pre-school years, some children have a diminished capacity for empathy,
expressing a deeply callous and unemotional character. These children exhibit severe conduct problems,
especially violence. These children lack remorse and an awareness of others’ distress. They are cold,
heartless kids. If they have a twin, they are more likely to share this callous-unemotional personality than
two unrelated children, revealing the trademark of a powerful genetic engine. More boys than girls fall on
the high end of this callous-unemotional scale — where high translates to colder and more callous. Those
who score highest on the scale engage in more direct physical bullying than those who score lower. High
scorers lack the skills to modulate their behavior following direct or anticipated punishment. These
individuals also show reduced activity in the amygdala, a part of the brain that is critically involved in
regulating emotion, especially the assignment of a positive or negative value on our actions and
experiences. These individual differences persist into adulthood. These are the kind of individual
differences that can explain why some followed Milgram and Zimbardo’s instructions to perfection, while

others resisted, exerting self-control.

Hauser Chapter 4. Wicked in waiting 128

HOUSE_OVERSIGHT_012874
"
IMAGES-005-HOUSE_OVERSIGHT_018839.txt,"Marina Market Analysis 29

The table that follows details whether or not marinas will post a gross profit for 2014, based on
marina size.

Marina Gross Profit - Will Report a Gross Profit

No Do Not Know Yes
Marina Size % of Respondents
Small (1 - 99 Slips) 19.0% 17.0% 64.0%
Medium (100 - 249 slips) 16.0% 14.0% 70.0%
Large (250 - 749 slips) 9.2% 14.5% 76.3%
Very Large (Over 750 slips) 11.0% 11.0% 78.0%
Overall 14.5% 14.5% 71.0%

The majority of small marinas (64%) reported that they would report a gross profit in 2014. The
majority of medium marinas (70%) reported that they would report a gross profit in 2014.

The table that follows details changes in gross profit in 2014 over 2013.

Marina Gross Profit - 2014 Over 2013

Decreased Stayed Same Increased

Ownership Type/ Size/ Age % of Respondents
Government Owner 9.0% 34.0% 57.0%
Corporate Owner 17.8% 28.6% 53.6%
Private Owner 22.4% 24.5% 53.1%
Overall 19.2% 28.8% 52.0%
New (Less than 7 Years) 53.8% 50.0% 68.0%
Medium (8 - 35 Years) 21.5% 20.0% 0.0%

Old (36+ Years) 24.7% 30.0% 32.0%

The majority (53.1%) of private owner reported that gross profit increased in 2014. The majority (32%)
of marinas over 36 years old reported that gross profit increased in 2014.

Conclusion

The majority of respondents indicated stable to increasing occupancy rates in 2014 over 2013. Most
respondents had an occupancy rate above 85%. Most respondents also indicated increased revenues.
These are all positive indications for the marina industry.

An article in Marina Dock Trends states that the market is improving for marina properties. The article
reports that pre-recession, marina capitalization rates were around 5% to 6%. Post-recession through
May 2014, capitalization rates were around 10%. Since May 2014, capitalization rates for marinas
began decreasing.

Though the boating industry experienced a decline in revenue and participation during the recession,
demand for slips far exceeds the current supply. Many industry experts as well as local brokers in

IGY American Yacht Harbor Marina

HOUSE_OVERSIGHT_018839
"
IMAGES-003-HOUSE_OVERSIGHT_016083.txt,"Bibliography 393

Michael Brooks. 13 Things That Don’t Make Sense : The Most Intriguing Scientific
Mysteries of Our Time. Profile, 2010.

Reason Special Interview with Roger Penrose, 2008. http://www.youtube.com/
watch?v=xiYDcl1LA014&feature=youtube_gdata_player.

Reason Special Interview with Roger Penrose, 2008. http://www.youtube.com/
watch?v=xiYDcl1LA014&feature=youtube_gdata_player.

Tegmark, Max. “The Importance of Quantum Decoherence in Brain Processes.”
arXiv:quant-ph/9907009, July 5, 1999. doi:10.1103/PhysRevE.61.4194.

HOUSE_OVERSIGHT_016083
"
TEXT-002-HOUSE_OVERSIGHT_033235.txt,"From: Richard Kahn 
Sent: 5/9/2017 9:22:35 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Importance: High 
http ://www. mansionglob al . com/articles/61984 -trump-lo oking-to-unlo ad-caribb ean-b each-
estate? link=TD marketwatch home_p age . 83461b39d1b fc251 &utm source=marketwatch home_p age . 83461b 
39 dlb fc251 &utm camp aign=circular&utm medium=MANSIONGLOBAL&locale=  
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033235 
"
TEXT-001-HOUSE_OVERSIGHT_030584.txt,"Date: Tuesday, March 8 2011 08:58 PM 
Subject: RE: 
From: Boris Nikolic 
To: Jeffrey Epstein <jeevacation©gmail.com>; 
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:jeeyacation@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/ 24311/ 433/notes- on-new-
vo rks- oddest-couple-j effrey- 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 2o-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. 
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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 all sorts of 
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blemishes. 
- 
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"
