THE FOLLOWING IS A REVERSE TIMELINE NARRATIVE OF sENATOR mARKEY'S nUTRALIFE sAGA. pLEASE NOTE THE RECURRING CHARACTER, wILLIAM a. aCKMAN.
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SENATOR EDWARD J. Markey insists his staff knew — but he didn’t — that a Wall Street investor stood to make a fortune if Markey and other politicians urged federal regulators to open a fraud investigation into a company the investor wants to destroy.
In Washington, they call that deniability. In the real world, it’s called hard to believe.
http://www.bostonglobe.com/opinion/editorials/2014/03/15/don-let-markey-hedge-herbalife/xo9kRuA1vuWuFLBaDH80kK/story.html
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WASHINGTON — The Federal Trade Commission will investigate the controversial vitamin company Herbalife, the company disclosed Wednesday, an action that Senator Edward J. Markey had urged in a letter to the FTC in January.
Markey was the only member of the Senate who said yes to entreaties by hedge fund executive William A. Ackman to seek an investigation of the company, which were relayed to the senator through his staff.
Ackman, who has a $1 billion bet against Herbalife and lobbied Markey and other members of Congress to take action against the company, has said most lawmakers rebuffed him because they knew he would reap a windfall if the company’s stock declined significantly. http://www.bostonglobe.com/news/nation/2014/03/12/federal-trade-commission-will-probe-herbalife-after-hedge-fund-lobbying-and-request-senator-edward-markey/lGRhXMDQtWUUq3yAHFCJwO/story.html
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The U.S. Securities and Exchange Commission is giving “every consideration” to concerns raised by Senator Edward Markey that Herbalife Ltd. may be a pyramid scheme, the agency’s chairman said in a letter dated today.
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Markey Calls for Investigation into Herbalife Business Practices
Lawmaker concerned nutritional supplement company could be operating outside securities law as a pyramid scheme
Washington (January 23, 2014) After hearing serious complaints of improper pressure and financial hardship, including from a constituent in Massachusetts who lost her entire retirement savings, Senator Edward J. Markey (D-Mass) is calling for more information about the business practices of Herbalife Ltd. In letters sent today to the Securities and Exchange Commission (SEC), the Federal Trade Commission (FTC) and to the company itself, Senator Markey queried each for more information about Herbalife’s operation
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