The following was submitted by Harbor area activist Ernesto Nevarez. It’s another example of the indifference of Hedge Fund operators to the human consequences of their profit-making activities, as I have chronicled with the ex-Goldman Sachs boys of Mount Kellett Capital Management (who frequently act in concert with Goldman Sachs) in Los Angeles and Baja California:
There has been a take-over at the public housing project in Harbor City but now the tenants are meeting unfair resistance by the Goldman Sachs/Ricardo Hong slate. All of the peoples’ votes were cast in person and proxy while the administration/status quo slate was done by mail. The election was conducted by the League of Women Voters due to a court stipulation. However, the opposition that agreed to handle the arrangements did the mailing of the ballots. Some of our supporters that showed up to vote in person didn’t bring in their ballots because they never received them in the mail. The League of Women Voters informed them that their ballots were received in the mail already!!!
Despite the fraud WE still won 3 of the 5 board seats!!!! Counting the 48 proxies which were all ours WE took the entire board. The people at Harbor Village are all poor, seniors, physically or emotionally handicapped but they are GREAT!!!! WE beat Goldman Sachs and Mayor Villaraigosa’s stooge, Ricardo Hong!!! The company that we are fighting is Related Co of CA, a subsidiary of The Related Management Co LP of NY of which Goldman Sachs is the main partner. The property was to convert to the tenants at the end of 15 years. WE are at 14 1/2 years. At issue, about $1,000,000 in assets in the Tenant organization, the NTCC. The NTCC is the managing General Partner in the Normont Terrace LP with Related the other General Partner. The Normont Terrace LP is the “Landlord” but for 14 years The Related Co. has ran the partnership at will. The tenants didn’t even know that they were partners!!!! Last Aug 29 I began helping, my dtr lives there, and I found out that there was a partnership and that WE were the main partner. There are 400 units with an average estimated value of $250g each. WE took control of it but they will fight us to the end and WE need help.
Hedge fund predators like Mitt Romney’s Bain Capital, Goldman Sachs and Mount Kellett exemplify what Abraham Lincoln was talking about when he said “These capitalists generally act harmoniously and in concert to fleece the people.”
