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BFCSA: Goldman Sachs MD found dead in the water.

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http://wallstreetonparade.com/2014/06/profiteering-on-banker-deaths-regulator-says-public-has-no-right-to-details/

Profiteering on Banker Deaths:  Regulator says Public has no right to Details

By Pam Martens and Russ Martens: June 30, 2014

A man with a long history of keeping big bank secrets safe from the public’s prying eyes has denied the appeal filed by Wall Street On Parade to obtain specifics about the worker deaths upon which JPMorgan Chase pockets the life insurance money each year.

According to its financial filings, as of December 31, 2013, JPMorgan held $17.9 billion in Bank-Owned Life Insurance (BOLI) assets, a dark corner of the insurance market that allows banks to take out life insurance policies on their workers, secretly pocket the death benefits, and receive generous tax perks subsidized by the U.S. taxpayer. According to experts, JPMorgan could potentially hold upwards of $179 billion of life insurance in force on its current and former workers, based on the size of its BOLI assets.

The man who denied Wall Street On Parade’s appeal is Daniel P. Stipano, who told us by letter on June 20, 2014 that he had 450 pages of responsive material but it was not going to be released to us or the public. (See OCC Response to Appeal from Wall Street On Parade Re JPMorgan Banker Death Bets.)

read more   http://wallstreetonparade.com/2014/06/profiteering-on-banker-deaths-regulator-says-public-has-no-right-to-details/

http://www.bloomberg.com/news/2014-07-21/goldman-sachs-managing-director-nicholas-valtz-found-dead.html

Goldman Sachs Managing Director Nicholas Valtz Found Dead

By Julia Verlaine and Michael J. Moore

July 22 2014

 

Nicholas Valtz, a managing director in cross-asset sales at Goldman Sachs Group Inc. (GS) in New York, was found dead yesterday by family members who went searching for him after he didn’t return from a kiteboarding outing.

Valtz, 39, was found in Napeague Harbor near the eastern end of Long Island, according to the East Hampton, New York, police. He was a “novice kiteboarder” and was found floating in the water secured to his kite, police said in a statement released yesterday. Other kite gear was found in a grassy area of the harbor, police said.   “We’re deeply saddened by this tragedy and our thoughts are with Nick’s family,” Michael DuVally, a spokesman for Manhattan-based Goldman Sachs, said in an e-mailed statement.

 

Valtz, who joined the firm in 2000, was promoted to managing director in 2010. As a cross-asset sales executive, he helped manage orders for trading clients and pitch them products and ideas among different types of securities. His wife, Sashi Valtz, also works at Goldman Sachs as head of global third-party research sales, according to her LinkedIn profile. ..............Police are still investigating the death, according to the statement. 

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