I Shouldn't Talk About This

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Sullivan and Cromwell is a multinational wall street law firm in New York City. It was one of the most profitable law firms in the world.

In 2008 Sullivan and Cromwell represented Bear Stearns, Lehman Brothers, Fannie Mae, AIG and Barclays.

The Senior Chairmen at Sullivan Cromwell Rodge Cohen defended the financial system and wall street. Quote I am far from convinced there was something inherently wrong with the system.

Rodge was played by Robert Hogan in the 2011 film “too big too fail.”

Sullivan and Cromwell’s early clients include JP Morgan, Carnegie owned US Steel and GE. They developed the concept of a holding company ( a company that does not produce but owns other companies) Persuading NJ

represented the United Fruit Company (UFC), which had major holdings in Guatemala. UFC used its lobbying power, through the firm and through other means, to convince President Eisenhower, as well as Secretary of State John Foster Dulles, and his brother, CIA director Allen Dulles, both alumni of the firm, to depose the democratically elected President of Guatemala, Jacobo Arbenz.[45][46]

Sullivan & Cromwell's secret pay scales and strict hierarchy resist the democratic trends in Wall Street
But among the very few concessions to younger members of the firm is the right to veto new partners. To the senior partners, it is a minor sop to democracy. There is no danger of upsetting the hierarchy, and like the coercive methods in police states, it encourages underlings to prey on those below them. This gives them a sense of importance and reconciles them to their own inferiority because they are at least superior to someone. This power does not overtly threaten associates, since it is rarely used; but when it is, the policy of placating junior partners does not always seem like such a good idea. Overriding more senior partners is usually done for reasons other than quality of work, since the senior partners are the best judge of that. The young partners can take out competitive anxiety on the associates they reject.

In 1987, Sullivan & Cromwell faced a world that no longer tolerated the secret pursuit of clients' interests. The same public right to know that inspired investigative journalism in the 1970s and left even the President of the United States more accountable than ever before had finally come to the legal profession. And Sullivan & Cromwell was found wanting. To the Johnson jury, the firm seemed out of touch; to the Pru-Bache litigants, it seemed arrogant; to the appellate division, it seemed "outrageous"; and to theSEC, it seemed unresponsive. While Sullivan & Cromwell continued

Sullivan and Cromwell have a tight network, even junior that were rejected from Sullivan and Cromwell belong to the this boys club. Richard M. Nixon, who had admitted to John Foster Dulles, "If you had given me a job, I'm sure I would be there today, a corporate lawyer instead of Vice-President." Nixon worked closely with Sullivan and Cromwell alumni for example John Dean who pled guilty to single felony in the watergate scandal.

Sullivan and Cromwell plays both sides of the fence. During world war 2, Sullivan and Cromwell represented German companies and after helped Japan and German companies that benefited from atrocities found themselves clients of Sullivan and Cromwell. Debt was restricted

Sullivan and Cromwell exists today and has influence over banking and finance. During 2008 GFC Sullivan and Cromwell helped write dodd frank laws.

and Sullivan and Cromwell employees are involved in crypto as well worked right along side with Gary Gensler The timing of the case has been very unusual, We know that Jay clayton left Sullivan and Cromwell went to work for the SEC, filed the case against ripple then left and came back to the SEC. We know this a club

FTX US hired Sullivan and Cromwell. FTX is the only regulated US exchange that allows options on crypto. Option trading is extremely volatile and the add a layer of volatility on the already volatile crypto.

#btc #xrp #ripple