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MICHAEL LABRANCHE: THE BIGGEST ASSHOLE TO EVER BE A MEMBER OF THE NYSE. THE SECOND BIGGEST ASSHOLE WAS ANTHONY CORSO, WHO USED HUMAN GROWTH HORMONE.

December 27, 2016

MICHAEL LABRANCHE:  AN EXERCISE IN HUBRIS

 

Michael LaBranche, CEO of LaBranche Specialists, was the second wealthiest member of the New York Stock Exchange- surpassed in wealth only by Peter Kellogg, CEO of Spear Leeds and Kellogg.  Mike LaBranche was worth $1 billion; but what happened is a perverted Greek tragedy.

 

LaBranche Specialists was known as Rehab Specialists because so many specialists were substance abusers.

 

William Johnson, a partner in LaBranche who later became President of the NYSE, established an illegal trading account at Spear Leeds and Kellogg in which he illegally traded the stock of AT&T for his personal account.  Why was the trading of the stock of AT&T illegal?  William Johnson was the specialist in the stock of AT&T   A lying federal judge, Judge Jed Rakoff, refused to report the United States Attorney for the Southern District of New York for lying in documents submitted to federal Court.

 

William Johnson was an alcoholic- better known as a drunk.  Johnson was a personal friend of Richard Grasso, President of the NYSE.  After Mike LaBranche found out that William Johnson was stealing from LaBranche Securities by pocketing profits from illegally trading the stock of AT&T, Mike LaBranche fired Johnson.  Mike LaBranche was so stupid that he did not know that Johnson had illegally traded the stock of AT&T.  When it became known through my efforts that William Johnson had illegally traded the stock of AT&T for his illegal personal account at Spear Leeds and Kellogg  Grasso then hired Johnson as President of the NYSE.  When Grasso began to feel the heat, Johnson “retired” as President of the NYSE- and was hired as a consultant.

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Anthony Corso, a Managing Director of LaBranche, took steroids and testified in the federal case of Roger Clements.  Corson abused Human Growth Hormone and testified in the federal trial of Roger Clemens.  Corson wished to take an illegal short cut in losing weight- just as he took illegal shortcuts as a specialist.

 

 

Another member of LaBranche on the American Stock Exchange, David Chan, and his brother, John Chan, attempted to threaten me.  But David Chan, a real bitch in a tutu, gave a second thought to fighting me when we were alone.

 

When I mentioned an incident where David Chan and his brother, John Chan, who had a carry permit for a handgun in New Jersey, to Anthony Corso, Fat Tony Corso ignored me.  I thanked him and said that David Chan and his brother could suffer the consequences if they wished to fight me because I was told that John Chan was carrying his pistol into New York City.  John Chan had told some individuals that he had been hired by the American Stock Exchange to follow me.  The source for this was Ken Blitschke, an Amex Security Guard.  Blitschke, a retired cop, had stated frequently referred to Asians as Gooks- and this was tolerated by Richard Syron, Chairman of the American Stock Exchange and an individual who had been committed to a psychiatric institution.

 

And that is the way it was at LaBranche.  When Peter Kellogg sold Spear Leeds and Kellogg to Goldman Sachs for $8.2 billion, Mike LaBranche was busy purchasing NYSE and AMEX specialist units- approximately $250 million for Henderson Brothers, $10 million for Cranmer & Cranmer, etc.  The specialist units declined in value and were worthless.  LaBranche bought while Spear Leeds sold.

 

In January 2010 LaBranche Securities’ NYSE operations was sold for $25 million to Barclays Capital.  Why?  Mike LaBranche vowed to get rid of Richard Grasso, who was looting the NYSE and was using his attack Yorkshire Terrier, Edward Kwalwasser, Senior Vice President of Regulatory, to have Mike LaBranche thrown off the floor of the NYSE.  Mike LaBranche had leaked to the press the amount of Richard Grasso’s compensation.

 

Imagine.  From a net worth of $1 billion to $25 million.  Mike, when you hire pigs, well the oinkers fuck you.

 

Can there be any question as to why the NYSE is really a meaningless institution?

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