and you thought Dutrow was a shady character?

[Silver Charm]

Where does Robert Brennan fit in all of these characters. He had an entire Securities firm Pumping and Dumping. And yet singlehandedly did more to get the Triple Crown and promoting tracks off their asses than anybody.

We need another Robert Brennan to come along again because they have fallen right back into the same sense of complacency. The Derby Purse is a joke.

The Iavarone client bitching sounds like the guy who stiffed Bud Fox early on in the movie \"Wallstreet\".

[richiebee]

SC:

Cant think or hear of Brennan without reflecting on the beautiful state of the
art racetrack he built in South Jersey (now a shopping mall) and his Due Process
Breeding Farm, which was a little slice of KY Bluegrass on Rte 537 near Colts
Neck (now a golf course/exclusive country club).

JT Lundy and Robert Brennan are both reminders of how gullible people can be,
including investment bankers who should know better.

My favorite Gecko line from Wall Street-- \"I\'m a typical WASP. I love animals
and I hate people.\"

[belmont3]

Silver,

Guess I have to put my 2 cents in on this hedge fund former A.R. Baron broker.
I am familiar with Bob \"come Fly with Me\" Brennan and A. R. Baron and a host of other Wall Street frauds.

Brennan has been in jail for some time now. Never made a dime for his clients or shareholders. (see the former International Thoroughbred Breeders history) The only money made at the now demolished Garden State Racetrack were those that scalped memorabilia at their liquidation auction a few years back. I was there. Nuff said on him.

As to A.R Baron and their ilk....just do a google on A.R. Baron and Bear Stearns.
Check out Richard Harriton and how he supported these small pump and dump broker dealers as they defrauded the public and gave multiple black eyes to the brokerage industry. These firms were criminal and defrauded investors. When busted, they simply moved their license to another \"clean\" B/D and started all over again.

Silver, there is no defense for these fellas.

There is so much more to tell and so little space to write.....

As for the hedge fund....A hedge fund is just \'terminology\". There is no IRS code that defines a \"hedge fund\" In fact, a US based hedge fund generally is a form of limited partnership. The General partner is the investment mgr and the limiteds provide the cash and have no say in management.

Calling it a \"hedge fund\" gives it a sexy Wall Street affiliation and allows the GP to charge outrageous fees. (a 2% mgmnt fee per/year is on the higher side and the 20% profit fee is about the norm).

I am not familiar with the fees charged by other horse racing partnerships (there are many)....but this deal looks rich and that doesn\'t surprise when when you consider the background of the proposed GP.

Bob

[fkach]

>My favorite Gecko line from Wall Street-- \"I\'m a typical WASP. I love animals
and I hate people.\"<

That\'s a favorite of mine also...mostly because the longer I live the more I agree with it.

[jbelfior]

Fkach:


I agree. I was at Monmouth last Saturday and there was a nasty spill in the stakes race there where a talented horse called Silent Roar went down along with 2 other horses. Of course,the jocks also went down.

Hate to admit this, but my first concern was for the animals. Not that I didn\'t care what happened to the jocks, but their well-being was not the first to come to mind. That\'s what working on Wall Street for 27 years will do to you. Thankfully I\'m out of there.


Good Luck,
Joe B

[MO]

I love music, but I hate musicians. \"Things are tough all over\" Mom used to say...

[RICH]

Yes, to hell with the jocks, and their families, and the possibilty of death or being paralyzed. Yes, but I agree, and I hate to admit this, but when an airliner goes down, all I can think of is all that damage to the plane and did it hit any cows in the pasture when it crashed, come on, get a grip

[Barry Irwin]

This, my friends, is the difference between journalism in the real world, as opposed to horse racing.

The closest thing we saw to something like this prior to this article when a virtual puff piece that Andy Beyer wrote, in which he used innuendo to make many of his points.

The Bloomberg story reminded me of why I quit working for Daily Racing Form. I wanted to be a journalist. But I was working for a house organ for the racing industry.

[Kasept]

Barry,

If this is \'the difference between journalism in the real world, as opposed to horse racing\', where has the \'real world journalism\' been on reporting of the fraud Bloomberg and NYC-OTB is foisting on NY State, the NY breeders, NYRA and the horseplayers? Funny that only DRF\'s Matt Hegarty and Steve Crist, and NOT the mainstream press, have accurately portrayed the lies in this charade for what they are... But keep watching Bloomberg.com for their upcoming expose. I\'m sure it\'s in the offing.

Iavarone and IEAH will have to stand up and face the music and that should have been anticipated and FAIR, OPEN airing of information, backgrounds, etc., is to be expected. But don\'t portray the Bloomberg pieces as some kind of example of \'journalism\'... Those are good old fashioned hatchet jobs.

Steve Byk

[Michael D.]

the new Helyar piece -

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_helyar&sid=aLqe8fxVGAq8


and the NYT story, where he worked for Goldman -

http://www.nytimes.com/2008/05/29/sports/othersports/29owner.html

[covelj70]

I work for Goldman Sachs, trust me, he never has!!!!