Robert Mueller Skewers Michael Cohen About Russian Big Taxi — Thanks All For Using My Info

To all bottom feeders who helped Murstein, Cohen & Cronies in New York, Chicago and Boston:

It’s time to roll over on the criminals who ripped off thousands of owner operator taxi drivers and thousands of low information investors living on fixed incomes who depended on MFIN dividends.

  1. If you’re not concerned about your safety, email 
  2. If you want to protect your safety, learn how to reach BuzzFeed securely. Go to Many of us have been hacked by the Russians and their contractors. They then threaten to use the kompromat they find. For Russian readers:  (компрометирующий материал),
  3. Submit your information to an attorney expert in the SEC Whistleblower program.

Thank you to the excellent journalists below and more who will soon publish.

Anthony Cormier is an investigative reporter/editor for BuzzFeed News and is based in New York. While working for the Tampa Bay Times, Cormier won the 2016 Pulitzer Prize for Investigative Reporting.

Contact Anthony Cormier at

John Templon is a data reporter for BuzzFeed News and is based in New York. His secure PGP fingerprint is 2FF6 89D6 9606 812D 5663 C7CE 2DFF BE75 55E5 DF99

Contact John Templon at

Chris McDaniel is an investigative reporter for BuzzFeed News and is based in New York. His secure PGP fingerprint is C90B B2EF E872 EF22 4EDA DABB 50E6 F2BE 1164 FCAF

Contact Chris McDaniel at

Jason Leopold is a senior investigative reporter for BuzzFeed News and is based in LA. Recipient: IRE 2016 FOI award; Newseum Institute National Freedom of Information Hall of Fame. PGP fingerprint 46DB 0712 284B 8C6E 40FF 7A1B D3CD 5720 694B 16F0.

Contact Jason Leopold at

Robert Mueller Is Asking About This Little-Known Chapter Of Michael Cohen’s New York Life

The raid on President Trump’s personal lawyer may have involved a surprising period in Cohen’s life. The special counsel has been asking questions about it and the controversial businesspeople who were his partners at the time.

Posted on 

Monday’s FBI raid on President Trump’s longtime personal lawyer Michael Cohen was reportedly an attempt to seek information on not just his dealings on behalf of the president, but also a more surprising topic: Cohen’s history as a New York City cab owner.

Cohen’s foray into the taxi business is a little-known but formative chapter in his life, during which the lawyer from Long Island forged some of the core relationships, and honed some of the sharp-elbowed tactics, that would define his wide-ranging business career.

Special counsel Robert Mueller’s team has previously sought information about many aspects of Cohen’s professional life. Investigators have asked about a failed Ukrainian ethanol company he co-owned, which sought a deal with a powerful politician, Viktor Topolov, whose associates were members of the Russian and Ukrainian underworld. Closer to home, questions have arisen about Cohen’s work with Symon Garber and Evgeny Freidman, two Soviet-born New York taxi barons who managed his fleet, two sources with knowledge of the special counsel’s inquiry told BuzzFeed News.

There is no indication that Mueller’s team is investigating Garber or Freidman for wrongdoing. One witness who was asked about them was asked about a total of 40 people or companies with ties to Cohen.

During Monday’s raid, FBI agents searched for evidence about the taxi businesses and other matters, CNN reported. Cohen has not been charged, and he did not immediately return a message seeking comment for this story. Garber did not return a call left at Yellow Cab SLSJET Management Corp., the company he runs out of a small office in Long Island City, Queens.

Cohen followed his father-in-law into the rough-and-tumble world of New York City taxis in March 1997, registering five new cab companies, including Sir Michael Hacking Corp. and Lady Laura Hacking Corp., according to New York state business registration records.

His holdings grew. New York City records show Cohen, his wife, and his in-laws hold a stake in more than 15 colorfully named taxi companies such as Golden Child Cab Corp. and Smoochie Cab Corp. When Cohen testified before the House and Senate Intelligence committees last year, one lawmaker asked him if he used the alias “Michael Hacking” — because the lawmaker mistakenly thought “Hacking” was a surname rather than another word for taxi driver.

Cohen then entered into a series of taxi management agreements with Garber, who controlled cab companies in New York City, Chicago, and Moscow. In June 2006, Yellow Cab SLSJET agreed to pay Cohen a $69,000 monthly fee to use 30 of the medallions that every taxicab must have. In return, SLSJET would get to keep any additional profits.

New York authorities fined SLSJET about $1.6 million in 2014 for ripping off its drivers on fees to lease vehicles. It’s unclear if SLSJET was managing Cohen’s medallions during this time.

But in April 2012, Cohen tried to end the management agreements. Garber sued Cohen for breach of contract, alleging that Cohen had “manipulated” Garber’s wife into executing new contracts that would raise the management fees and that the subsequent termination of those contracts was without cause. The case was dismissed and sent into arbitration in 2013.

Today, about half of Cohen’s medallions are managed by a company run by Freidman, who was charged in 2017 with stealing $5 million that should have been paid to New York state, and who has also been charged with threatening to kill a former business partner’s family. His attorney, Patrick J. Egan, said Freidman denies the theft allegations and plans to go to trial in June. He would not comment when asked if Freidman had spoken to the special counsel.

Cohen’s father-in-law, Fima Shusterman, has been in the taxi business for decades, and was charged in the early 1990s with knowingly conspiring to defraud the IRS as part of a money laundering and tax fraud scheme.

The scheme was run with an accountant named Harold Wapnick, who prosecutors said prepared false tax returns for much of the city’s taxicab industry. At one point, Wapnick was estimated to have prepared taxes for 13% of New York City’s taxi drivers. Wapnick was caught after he prepared false tax returns for an undercover investigator who was wearing a wire.

Shusterman’s indictment alleged he structured payments to avoid the IRS’s scrutiny of transactions greater than $10,000. Shusterman faced up to 10 months in prison, but he pleaded guilty in exchange for probation and a small fine. There is no evidence that he is a subject of the special counsel’s inquiry, and the two sources who were questioned about Cohen’s connections said Shusterman’s name was not raised.

Wapnick died in 2011. Shusterman did not immediately return calls seeking comment.

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Russian Big Taxi And Their Crony Conspirators

Really, really excellent article using actual facts, coherent sentences and sound logic.
So, so different than the fake news “analysis” used online by Russian Big Taxi and their crony conspirators in the financial markets.
DeepResearch707: you continue the four-year old process of ripping off the Russian Big Taxi Scab started by Uber’s Medallion Bubble Peak Pop in Spring 2014.
Russian Big Taxi Readers:I feel your pain, now that Traitor Trump’s Fixer Michael Cohen is in the spotlight.
You guys really don’t want the world to know about Cohen, Crony & Crony’s work with:
  • Andrew Murstein
  • Anthony “Tony” Ilacqua
  • David Johnson (of Cane Bay Partners)
  • Edward “Eddie” Tutunjian
  • Erminio “Eddie” Gargano
  • Evgeny “Gene” Freidman
  • Kirk Chewning
  • Lawrence “Larry” Meyers
  • Patrick Daley (son of former Mayor of Chicago Richard M. Daley)
  • Randy Mastro
  • Richard “Bo” Dietl
  • Ronn Torossian
  • Symon “Simon” Garber
  • Vladimir Sloutsker (sometimes transliterated as Slutsker)
It’s your turn now,
28 Mar 2018, 03:32 PM
Comment on:
Medallion Financial: Misunderstood Medallion Loan Valuations Hide Potential For Significant Write-Downs
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Murstein Gets What’s Been Coming To Him For Years Of Committing Securities Fraud!!

A Medallion Financial (NASDAQ: MFIN) investor is suing Murstein and several board members for failing to fulfill their fiduciary obligation to shareholders.

Defendants on the board include Hank Aaron, formerly a baseball hero and Lowell Weicker, the formerly respected Governor and Senator from Connecticut.  Weicker was the first Republican senator to call for Nixon’s resignation before using his name to make a few bucks.

Sarah Frigo, fashion model cum investor relations expert, is also named in the action.

Among thousands of investors, the long-suffering, Murstein-screwed, MFIN stockholder brought the action against Murstein, his crony enablers and profiteers:

“…for breaches of fiduciary duties, unjust enrichment, aiding and abetting, and violations of law. These wrongs resulted in hundreds of millions of dollars in damages to Medallion’s reputation, goodwill, and standing in the business community. Moreover, these actions have exposed the Company to millions of dollars in potential liability for violations of section 17(b)of the Securities Act of 1933…SEC Rule 10b-5…”

“…Section 17(b) of the Securities Act makes it unlawful for any person to tout stocks for consideration without fully disclosing the consideration. Because defendant Frigo failed to disclose her compensation (and her identity), her articles and posts were materially misleading statements and she attempted to increase the Company’s share price, in violation of…SEC Rule 10(b)-5…”

The author of the filing is kind to cite as the first mention of Murstein’s security fraud, my November 18, 2016 blog post titled: “Jayme Stanley Outed as MF1N Tout”.

Post 2: Murstein Gets What’s Been Coming To Him For Years Of Committing Securities Fraud!!

However, my article resulted from a tip from “DeepResearch707” published two days earlier on November 16, 2016 in comment-73632260 cited in the link below. He is a very talented researcher and Seeking Alpha contributor.

Post 3: Murstein Gets What’s Been Coming To Him For Years Of Committing Securities Fraud!!

Readers also please note: a much, much more thorough article was published on February 6, 2017 by “Permabear”, also a talented and very articulate Seeking Alpha contributor. “Permabear” may or may not be the same person as “DeepResearch707”.

Post 4: Murstein Gets What’s Been Coming To Him For Years Of Committing Securities Fraud!!

The lawsuit specifically cites the Board’s failure to prevent Murstein from hiring Sarah Frigo, an inexperienced and uneducated fashion model, with no financial training or expertise, to pen putatively independent financial articles under a false name, and getting those articles placed in various online publications in an effort to promote the stock.

The content of Frigo’s articles, allegedly had to come from the company, given her lack of experience in the subject matter. Those articles suggested the very real problems plaguing the company’s operating and stock price performance were overblown, and the company, in turn, provided links on its website to the Frigo articles.

As noted above, promoting a company under false pretenses – using a pseudonym and implying expertise not actually present – without disclosing payment from the company itself, CONSTITUTES SECURITIES FRAUD, as is the company knowingly touting the misleading articles.

The lawsuit alleges the credibility of the company crashed when these facts came to light, exacerbating the very real problems posed by the emergence of Uber and Lyft, causing significant damages in the form of a falling stock price.

As extensively documented online since 2014, several other authors committed securities fraud in a conspiracy with Murstein, his profiteering cronies and others benefiting from the MFIN scam.

Members of the media, potential MFIN stockholder litigants and cowardly, willing-to-roll-over-witnesses (including Lawrence “Larry” Meyers) should contact Federal and State law enforcement and:

Thomas Amon Law
Securities Counsel
156 West 56th Street
11th Floor
New York, NY 10009
(212) 810-2430


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Thomas Ricks On The New American Civil War

Will we have a 2nd Civil War? You tell me.

Foreign Policy
MARCH 7, 2017

What are the chances of another civil war breaking out in this country in the next 10 to 15 years?

Definition: By “civil war,” I don’t necessarily mean set-piece battles and Pickett’s Charge. I do mean widespread political violence with parallel (though not necessarily connected) efforts to reject current political authority in certain legal domains or physical spaces.

I asked a group of smart national security thinkers that question the other day over my wild boar burger at Austin’s Dai Due. I was surprised that the range of answers ran from “five percent” to “95 percent.” I would say the consensus was about 35 percent.

What do you think are the chances? Please email me or answer in the comments. I will try to keep track of the consensus number.

Speaking of the Civil War, Capt. Decimus Et Ultimus Barziza, nicknamed “Pinney,” was a Texan who fought for the Confederacy in Pickett’s Charge, during which he was taken captive.

Will we have a civil war? A SF officer turned diplomat estimates chances at 60 percent

Foreign Policy
MARCH 10, 2017
By Keith Mines
Best Defense guest respondent

What a great but disturbing question (the fact that you can even ask it). Weird question for me as for most of my career I have been traveling the world observing other countries in various states of dysfunction and answering this same question. In this case if the standard is large scale violence that requires the National Guard to deal with in the timeline you lay out, I would say about 60 percent.

I base that on the following factors:

— Entrenched national polarization of our citizenry with no obvious meeting place. (Not true locally, however, which could be our salvation; but the national issues are pretty fierce and will only get worse).

— Press and information flow is more and more deliberately divisive, and its increasingly easy to put out bad info and incitement.

— Violence is “in” as a method to solve disputes and get one’s way. The president modeled violence as a way to advance politically and validated bullying during and after the campaign.  Judging from recent events the left is now fully on board with this, although it has been going on for several years with them as well — consider the university events where professors or speakers are shouted down and harassed, the physically aggressive anti-Israeli events, and the anarchists during globalization events. It is like 1859, everyone is mad about something and everyone has a gun.

— Weak institutions — press and judiciary, that are being further weakened. (Still fairly strong and many of my colleagues believe they will survive, but you can do a lot of damage in four years, and your timeline gives them even more time).

— Total sellout of the Republican leadership, validating and in some cases supporting all of the above.

Events that could spark it:

— Impeachment of the president or his fall from office.

— Major terrorist attack and sense that the establishment can’t manage security — vigilantes, etc.

— Opaque call to action by a failing president. (Consider Haiti’s Aristide.)

— Economic downturn, with blame placed on certain groups by the President and his people. Self-protection begets militias on both sides.

— Racial event that spirals out of control.

— A war gone really bad that polarizes the country, with blame apportioned in such a way that groups start to lash out.

Here’s other interesting scenarios to consider:

— Military coup. I can easily see a scenario in which a wartime decision is so bad it has to be disobeyed, and in the course of consolidating the refusal to carry it out, the only real recourse is to remove the president.

— Breakup of the republic. I was thinking about what it would take for things to start to break apart. This is much more than 15 years out, but some of the above could spark it, where we realize we are just different peoples and fundamentals divide us so strongly on core issues that it no longer works. I could see six states — California and the West Coast, the Rockies, the Heartland, the South, and the Northeast.  Texas gets its own gig.

— Precipitous decline. Could be defined in a number of different ways, and I guess we are already in it. But certainly internationally it could happen very quickly, and I think the results are very unclear. A large ship (the international order) losing its anchor (America) in a storm, could lead to all sorts of consequences.

All this makes me think of Hackett’s 1985, which as I understood it, was written to warn off the decline of Western military power that was in play, and spark the needed reforms and new systems. Perhaps we should be writing also about what it would take now to stave any of this off.

And it reminds me of Pericles’ funeral oration, which I was reviewing recently for a book I am working on. We once, of all the nations of the modern age, embodied this; we would find it nearly incomprehensible now.

“If we turn to our military policy, there also we differ from our antagonists. We throw open our city to the world, and never by alien acts exclude foreigners from any opportunity of learning or observing, although the eyes of an enemy may occasionally profit by our liberality; trusting less in system and policy than to the native spirit of our citizens; while in education, where our rivals from their very cradles by a painful discipline seek after manliness, at Athens we live exactly as we please, and yet are just as ready to encounter every legitimate danger.

“…the palm of courage will surely be adjudged most justly to those, who best know the difference between hardship and pleasure and yet are never tempted to shrink from danger. In generosity we are equally singular, acquiring our friends by conferring, not by receiving, favours.”

They loved Athens, because she first loved them. They sacrificed for her, because she was worthy of sacrifice. To us, it all about the spoils.

Keith Mines served as a special forces officer in Central America and Grenada and has served with the Foreign Service in El Salvador, Haiti, Mexico, Hungary, Afghanistan, Iraq, Darfur, and Israel. The views expressed are solely his own based on years of observing political transitions.

What are the chances of a second American Civil War? (A Best Defense update)

Foreign Policy
JUNE 28, 2017

Last time out, in early March, when we discussed this, the consensus number for national security experts was at about 30 percent, with some outliers at 60 percent and even 95 percent. The informed public (that is, the rest of Best Defense readers) were about 18 percent. Since then I have received several notes saying that number may be too low.

What number are you at now on the possibility of the United States going through a period of large-scale political violence? Either email me or post a comment, and I will compile results.

You say you need a definition? Ok, here is one from Correlates of War database:

“Civil War: The classification of civil war was built on three dimensions: internality, types of participants, and the degree of effective resistance. In general, a civil war was defined as any armed conflict that involved; (1) military action internal to the metropole of the state system member; (2) the active participation of the national government; (3) effective resistance by both sides; and (4) a total of at least 1,000 battle-deaths during each year of the war.”


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Bannonism Failed Implementation Under Trump — However Beware For The Future

Excerpted from:

Devil’s Bargain: Steve Bannon, Donald Trump, and the Storming of the Presidency
By Joshua Green
Publication Date: July 18, 2017
Penguin Publishing Group. Kindle Edition.
p. 204 – 208 

By now, Bannon’s term for his politics, and Trump’s—“ nationalism”— was already in wide circulation in the political press. But the term’s meaning was (and remains) confusing and has never been fully explicated. While Trump’s embrace of “America first” nationalism was chiefly due to its resonance as a campaign slogan, Bannon’s attraction to it had a far deeper and more complicated lineage.

From an early age, Bannon was influenced by his family’s distinctly traditionalist Catholicism and tended to view current events against the broad sweep of history. Though hardly a moralizing social conservative, he objected bitterly to the secular liberalism encroaching upon the culture. “We shouldn’t be running a victory lap every time some sort of traditional value gets undercut,” he said in 2015. While he was still in the Navy, Bannon, a voracious autodidact, embarked upon what he described as “a systematic study of the world’s religions” that he carried on for more than a decade.

Taking up the Roman Catholic history first instilled in him at Benedictine, his Catholic military high school, he moved on to Christian mysticism and from there to Eastern metaphysics. (In the Navy, he briefly practiced Zen Buddhism before wending his way back to Tridentine Catholicism). Bannon’s reading eventually led him to the work of René Guénon, an early-twentieth-century French occultist and metaphysician who was raised a Roman Catholic, practiced Freemasonry, and later became a Sufi Muslim.

There are many forms of traditionalism in religion and philosophy. Guénon developed a philosophy often referred to as “Traditionalism” (capital “T”), a form of antimodernism with precise connotations. Guénon was a “primordial” Traditionalist, a believer in the idea that certain ancient religions, including the Hindu Vedanta, Sufism, and medieval Catholicism, were repositories of common spiritual truths, revealed in the earliest age of the world, that were being wiped out by the rise of secular modernity in the West. What Guénon hoped for, he wrote in 1924, was to “restore to the West an appropriate traditional civilization.” Guénon, like Bannon, was drawn to a sweeping, apocalyptic view of history that identified two events as marking the beginning of the spiritual decline of the West: the destruction of the Order of the Knights Templar in 1314 and the Peace of Westphalia in 1648. Also like Bannon, Guénon was fascinated by the Hindu concept of cyclical time and believed that the West was passing through the fourth and final era, known as the Kali Yuga, a six-thousand-year “dark age” when tradition is wholly forgotten.

The antimodernist tenor of Guénon’s philosophy drew several notable followers who made attempts during the twentieth century to re-enchant the world by bringing about this restoration. The most notorious of these was Julius Evola, an Italian intellectual and the black sheep of the Traditionalist family. A monarchist and racial theorist who traced the descent of the Kali Yuga to interwar European politics, Evola, unlike Guénon (a pious Muslim chiefly interested in spiritual transformation), took concrete steps to incite societal transformation. By 1938, he had struck an alliance with Benito Mussolini, and his ideas became the basis of Fascist racial theory; later, after he soured on Mussolini, Evola’s ideas gained currency in Nazi Germany.

The common themes of the collapse of Western civilization and the loss of the transcendent in books such as Guénon’s The Crisis of the Modern World (1927) and Evola’s Revolt Against the Modern World (1934) are what drew Bannon’s interest to Traditionalism (although he was also very much taken with its spiritual aspects, citing Guénon’s 1925 book, Man and His Becoming According to the Vedanta, as “a life-changing discovery”).* Bannon, more synthesist than adherent, brought to Guénon’s Traditionalism a strong dose of Catholic social thought, in particular the concept of “subsidiarity”: the principle expressed in Pope Pius XI’s 1931 encyclical, Quadragesimo anno, that political matters should devolve to the lowest, least centralized authority that can responsibly handle them— a concept that, in a U.S. political context, mirrors small-government conservatism.

Everywhere Bannon looked in the modern world, he saw signs of collapse and an encroaching globalist order stamping out the last vestiges of the traditional. He saw it in governmental organizations such as the European Union and political leaders such as German chancellor Angela Merkel, who insisted that countries forfeit their sovereignty, and thus their ability to maintain their national character, to distant secular bureaucrats bent on erasing national borders. He saw it in the Roman Catholic Church, whose elevation of Pope Francis, “a liberal-theology Jesuit” and “pro-immigration globalist,” to replace Pope Benedict XVI so alarmed him that, in 2013, he established Breitbart Rome and took a Vatican meeting with Cardinal Raymond Burke in an effort to prop up Catholic traditionalists marginalized by the new Pope.

More than anywhere else, Bannon saw evidence of Western collapse in the influx of Muslim refugees and migrants across Europe and the United States— what he pungently termed “civilizational jihad personified by this migrant crisis.” Expounding on this view at a 2014 conference at the Vatican, Bannon knit together Guénon, Evola, and his own racial-religious panic to cast his beliefs in historical context. Citing the tens of millions of people killed in twentieth-century wars, he called mankind “children of that barbarity” whose present condition would one day be judged “a new Dark Age.” He added, “We are in an outright war against jihadist Islamic fascism. And this war is, I think, metastasizing far quicker than governments can handle it.”

Bannon’s response to the rise of modernity was to set populist, right-wing nationalism against it. Wherever he could, he aligned himself with politicians and causes committed to tearing down its globalist edifice: archconservative Catholics such as Burke, Nigel Farage and UKIP, Marine Le Pen’s National Front, Geert Wilders and the Party for Freedom, and Sarah Palin and the Tea Party. (When he got to the White House, he would also leverage U.S. trade policy to strengthen opponents of the EU.) This had a meaningful effect, even before Trump. “Bannon’s a political entrepreneur and a remarkable bloke,” Farage said. “Without the supportive voice of Breitbart London, I’m not sure we would have had a Brexit.”

For all his paranoid alarm, Bannon believes that the rise of nationalist movements across the world, from Europe to Japan to the United States, heralds a return to tradition. “You have to control three things,” he explained, “borders, currency, and military and national identity. People are finally coming to realize that, and politicians will have to follow.” The clearest example of Traditionalist political influence today is in Russia. Vladimir Putin’s chief ideologist, Alexander Dugin— whom Bannon has cited— translated Evola’s work into Russian and later developed a Russian-nationalist variant of Traditionalism known as Eurasianism. Bannon initially thought restoration lay in a rising political generation still some years off: figures such as Frauke Petry, of Germany’s right-wing Alternative für Deutschland, and Marion Maréchal-Le Pen, niece of Marine, whose politics he approvingly described as “practically French medieval,” adding: “She’s the future of France.”

It took some time for him to realize that in Trump (whose familiarity with French metaphysics, we can be certain, is no more than glancing) he had found a leader who could rapidly advance the nationalist cause. In the summer of 2016, Bannon described Trump as a “blunt instrument for us.” But by the following April, Trump was in the White House and Bannon had raised his estimation of him to pathbreaking leader. “He’s taken this nationalist movement and moved it up twenty years,” Bannon said. “If France, Germany, England, or any of these places had the equivalent of a Donald Trump, they would be in power. They don’t.”

When he took over Trump’s campaign in August, Bannon did indeed run a nationalist, divisive campaign in which issues of race, immigration, culture, and identity were put front and center. This wasn’t by accident or lacking in purpose, even if the candidate himself didn’t care to understand its broader historical context. By exhuming the nationalist thinkers of an earlier age, Bannon was trying to build an intellectual basis for Trumpism, or what might more accurately be described as an American nationalist-Traditionalism. Whatever the label, Trump proved to be an able messenger.

End of excerpt

Keeping in mind Bannon synthesized ideas from the two authors cited above rather than being an adherent, more information with many links can be found within their Wikipedia entries.

René Guénon
The Crisis of the Modern World (1927)

Julius Evola
Revolt Against the Modern World (1934)













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Medallion transfer values for Q2 2017 are now in for New York, Chicago and Boston.

The value of Boston taxi medallions reached a new low of $50,000 for the quarter ending June 30, 2017.

Boston medallion #711 was transferred on May 16, 2017 by Larisa Pogreb, as S L CAB, INC, to Navjit Singh, as JATT CAB, INC, in an all cash deal for $50,000. Pogreb’s husband and business partner is Mikhail J. Deychman. She can be reached at (617) 553-0824.

Pogreb’s loan from Brookline Bank (NASDAQ: BRKL) was paid in full on June 6, 2017. In a previous disclosure BRKL reported $36,000,000 in taxi medallion loans. For more information, you can contact Carl Carlson, Chief Financial Officer,, (617) 425-5331.

Since the peak price of $700,000 in spring 2014, Boston medallions have dropped 93% in value to $50,000.

As of December 31, 2016, MFIN reported to the SEC a portfolio value based on a Boston price of $300,000. Marking to market as of June 30, 2017 requires an 83% drop in the value of their Boston portfolio over the 6 months.

Since the peak price of $1,050,000 for an individual medallion in spring 2014, New York medallions have dropped 87% in value to $150,000.

As of December 31, 2016, MFIN reported to the SEC a portfolio value based on a New York price of $500,000. Marking to market as of June 30, 2017 requires a 72% drop in the value of their New York portfolio over the 6 months.

Since the peak price of $375,000 in spring 2014, Chicago medallions have dropped 88% in value to $45,000.

As of December 31, 2016, MFIN reported to the SEC a portfolio value based on a Chicago price of $60,000. Marking to market as of June 30, 2017 requires a 25% drop in the value of their Chicago portfolio over the 6 months.

The 10Q for the quarter ending June 30, 2017 will be published during the first week of August 2017.

The values of New York, Chicago and Boston medallions used to report the balance sheet by Andrew Murstein, MFIN management and MFIN’s Board of Directors MUST REFLECT A 70% LOWER weighted average of ACTUAL MARKET PRICES as of June 30, 2017 compared to the wildly inflated values they used for December 31, 2016.

If medallion values used to estimate the sickness of the balance sheet are not used, then Murstein and his cronies are lying to you and have committed securities fraud.


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4 Concrete Proposals for Economic Justice

Progressive FB Friends:

Part of the movement to #resist Traitor Trump is to agree on a SPECIFIC and POSITIVE agenda for all Americans, whether or not they voted for Trump. Trump is the enemy, NOT 37% of our fellow Americans.

4 Concrete Proposals for Economic Justice

  1. Establish a permanent direct job creation program, meaning either jobs created by the government or publicly subsidized private employment
  2. Expand the earned-income tax credit into the working class
  3. Increase the minimum wage to $15 in all 50 states
  4. Provide a universal child allowance: of $250 a month per child

Progressives will be playing defense for many years to come. But let’s also make sure we’re ready to roll with a true progressive agenda when our time comes.

Please share this article below

Is There an Emerging Democratic Agenda?

The New York Times
JUNE 5, 2017

While Donald Trump and his Congressional majority continue to push a harsh, hard-right ideology, so far they’ve been a legislative failure. And for good reason: For years, all they did was oppose Barack Obama and the Democrats, without bothering to develop an actual governing agenda of their own. Democrats must not make the same mistake. Playing defense is necessary, but it is not sufficient.

In fact, under the surface tension, a robust, highly progressive agenda has been coming together in recent months, one with the potential to unite both the Hillary and Bernie wings of the party, to go beyond both Clintonomics and Obamanomics.

These ideas come from the left wing of the party, but I’ve noticed more and more centrist Democrats, along with establishment donors, who increasingly recognize the need, in both substantive economic and electoral terms, to get outside the old boxes and go bold.

One of the boldest ideas coming down the pike is a universal child allowance: a monthly stipend for all families with children. International data show that child poverty in America remains at 20 percent — twice the rate in Germany and seven times the rate in Denmark.

Those countries, and most other advanced economies, provide regular payments to families with children based on the recognition that investing in children is an essential public good. Yet here in the United States, though we have a patchwork of programs, the lowest-income children often get no income support, while children in wealthy families benefit from generous tax deductions.

A child allowance of $250 a month per child would cost about $190 billion a year, though half of those costs could be offset by consolidating existing, less-efficient policies. It would cut child poverty by 40 percent and deep child poverty by half, while providing middle-income families raising children with a baseline level of stable income.

Next, even as we close in on full employment, there are parts of America where job growth and labor force participation are well below the national average. Historically, public policy tries to help such left-behind areas through place-based tax credits, but their track record is dismal. If we want to help places with too little labor demand, we must implement direct job creation policies, meaning either jobs created by the government or publicly subsidized private employment.

Infrastructure build-outs can help, but what’s really needed is a permanent, scaled-up version of a subsidized jobs program that worked well in the last recession. The program helped create about 250,000 jobs, many of which were in the private sector, by subsidizing wages for a fixed time period. One careful study from Florida’s version of the program found that, relative to a control group, participants’ work and earnings went up not just during the program, but after it as well.

While direct job creation will help achieve the necessary job quantity, we also must boost job quality. A strong idea in that regard is an expansion of the earned-income tax credit into the working class. The tax credit is both broadly popular and very successful: In 2015, it lifted 6.5 million people, including 3.3 million children, out of poverty.

A recent analysis asked: What would it take for the earned-income tax credit to offset the damage done to low- and moderate-wage earners by the forces of inequality that have steered growth away from them in recent decades? The answer is a $1 trillion expansion in the wage subsidy over the next decade. A family of four making $40,000 would get a tax credit of about $6,000 instead of its current benefit of about $2,000.

Even in Washington, $1 trillion is real money, but I like the way one tax expert, Chuck Marr, put it: “For less than one-fifth of the cost of the Trump tax plan, we could improve the lives of millions of working-class people.”

A higher minimum wage is yet another idea drawing broad liberal support.

Remarkably, the federal minimum wage is still $7.25, though most states and many localities have their own higher version of it. Still, 21 states remain on the federal level, and the “fight for $15” has been an important and successful movement by and on behalf of low-wage workers. One new estimate finds that 41 million workers would get a boost from this policy. More of them have college degrees than are teenagers. In other words, the devolution of low-wage work in America means that families often depend on a minimum-wage earner.

Some job displacement is possible given an ambitious increase like this, but a new proposal from congressional Democrats doesn’t get to $15 until 2024, giving employers time to adjust.

Though Democrats have written bills for most of these ideas, no one expects them to go anywhere in this Congress. What’s important is that such ideas, once the domain of the party’s left wing, now face a diminished resistance from centrists, who once viewed them as too expensive and too interventionist. The bold minimum wage increase has 152 supporters in the House and 31 in the Senate.

Progressives will be playing defense for many years to come. But let’s also make sure we’re ready to roll with a true progressive agenda when our time comes.



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