June 2, 2005 4:00 AM PDT
Newsmaker: The secret behind the CIA's venture capital arm
See all Newsmakers
As chief executive officer of In-Q-Tel, Louie has the job of operating as a venture capitalist charged with helping to deliver new technologies to the CIA as well as the rest of the U.S. intelligence community.
"At the end of the day the mission is to find technologies that can protect lives," he says.
But In-Q-Tel occupies a unique rung in the federal bureaucracy. As a publicly funded operation, it is bound by the usual requirements governing conflict of interest that are familiar to other government agencies. At the same time, it is forced to keep a lot of information about what it's doing close to the vest because, well, it's the CIA.
Sometimes that's an uncomfortable fit. Earlier this year, for instance, the New York Post raised the specter of a conflict of interest after some employees sold stock in a company In-Q-Tel had invested in. CNET News.com recently sat down with Louie to find out more as well as to learn how he views the evolving role of In-Q-Tel in equipping the government with new technologies in its war on terror.
Q: In-Q-Tel was recently accused by a New York Post columnist of being involved in a "pump and dump" scheme. Is there a conflict of interest between being a government-funded nonprofit and conducting private stock sales?
Louie: I don't think the writer was off base in asking the question. He may not have had all these facts right, but the foundation of the question of whether it's reasonable to have a nonprofit whose principal job it is to make investments is: Have employees benefited?
When we were setting up In-Q-Tel, the CIA said, "Look, we want you to build a model that can analog to the commercial world." In our particular case, we wanted to get people from the industry. You've got to remember it was 1998 and that was in the middle of the bubble.
But how do you square that circle? You've got the mission of a publicly financed company that also has to take into account the realities of the surrounding world.
Louie: Here was the basic premise: How do you get people first to treat the taxpayers' dollars as if it was their own? No. 2 is how do you attract the talent to come on? How do you get people from the best schools or the private sector?
We said we want to have a side-by-side fund, which is pretty universal in venture capital. We designed a compensation scheme that's fair that would get us to the right people--but not overly compensate them. We have an agreement with the government that says after the moment a stock becomes available, you have a short period of time where you're expected to liquidate those resources. We tie the employee funds in the same way. You don't get to choose; we choose for you.
What do you mean?
Louie: Which stocks to play in...You get a percentage to all the deals. But it comes off of your salary. We give you annual compensation pay, and a certain percentage of that is set aside for long-term compensation that is automatically invested. You pay your taxes and then we take a chunk of that to invest in your stocks. And they may do well, and they may not do well.
Is this a unique arrangement when it comes to government-funded agencies?
Louie: Well, there wasn't really a government venture fund until we kind of showed up. Is it unique now among government venture
See more CNET content tagged:
venture capital,
compensation
I'm in trouble now. It wasn't me. I did not just say that.
Arrgggggh. They are coming through the front door.
Bang.
I'm in trouble now. It wasn't me. I did not just say that.
Arrgggggh. They are coming through the front door.
Bang.
agency are not honest with themselves or us about their involvement with U.S. or foreign securities and this can lead to stock market insecurity for all of us.
For instance Mr.Tenet et.al. has already led our 'intelligence' agency from disastrous and incorrect speculation into a needless war with no end in sight.Why,if it were the truth,could he simply not have said,'I don't know',if there are 'weapons of mass destrustion'in Iraq and let the President make his decision based upon that ?
However now he and the CIA blunder on into stock investments in the name of 'national security'!!
If these companies are so important he nor the CIA need invest in them and certainly not tout them like used car salemen do their neext car on the lot.And this DOES lead to conflict of interest and an uneven investment playing field for 'regular' investors,to say the least,who do not have a CIA lobbying agency who can tout their stock to congressmen and get promises of government funding that will raise a stocks price overnight,much less access to insider trading which they then do and will have !!!
This is outrageous.And most of the stocks they 'invest' in or not old an established but most are 'penny stocks' with scammy penny stock rules,not old established 'blue chips' whose capitalization and more predictable income make them more immune from investor speculation and manipulation.
And what of the conflicts of dealing with cheap carnival type penny stock promoters of the likes of the Agora Publications' gang who Tenet met in New Orleans in 2004 and who touted the Ionatron pump and dump for Mr.Tenet and associates ?
I thought it a shame that James Dale Davidson and his Agora Publication's, 'Strategic Investment',(a penny stock mail fraud operation),used ex-CIA Chief Colby,in his old age and only for his name,to tout penny stock investments and fraudulently promise investors 100's of per centage point gains when Mr.Davidson was and is a known penny stock con artist.And then,without Colby's permission to my knowledge,(he died mysteriously shortly after),James Dale Davidson turned his penny stock tout mailing scam,with Colby's name on the letterhead,to a political tirade against Presisent Clinton,accusing him of killing Vince Foster with no proof whatsoever !! This,for personal vendetta or Beltway politics,only leads to destabilizing our government needlessly.
I point this out as a clear example of mixing our intelligence with scammy penny stock con artists and touts.Yet this group is precisely who Mr.Tenet teamed up with at a 2004 'investment symposium',the scamsters from Agora Publications'whose scammy penny tout tentacles spread across the globe.And Mr.James Dale Davidson of Agora is the man who ran the 'NAANSS'(DO GOOGLE SEARCH 'NAANSS') SCAM, ERRONEOUSLY CLAIMING TO BE A VICTIM OF 'NAKED SHORT SELLING',WHEN IN FACT HE WAS RUNNING AN ILLEGAL PUMP AND DUMP SCHEME WITH PENNY STOCKS SUCH AS ENDOVASC AND GENEMAX,AND ACTUALLY DEFRAUDING INVESTORS WITH TOUT PROMOTIONAL LIES THROUGH AGORA'S 'VANTAGE POINT' ETC., WHILE DUMPING MILLIONS OF UNAUDITED SHARES INTO THE MARKET !!!
I further believe 'Bob O'Brien' who placed an ad or letter costing $100,000 + in the 'Washington Post' on February 8 addressed to President Bush and warning of 'naked short selling' to SS investments in the market is none other than James Dale Davidson who ex-DIA George Tenet has knowingly or not allied himself to by attending that Agora dominated 'investment symposium' in New Orleans in 2004. And Agora touted Ionatron through its investmentu.com among other sources.
(Even some touting in Germany I believe.)
And since the letter to Bush has appeared there has been unending fraud using James Dale Davidson's old fraudulent claim of 'naked shorting' to conceal the touting and dumping of penny stocks once more.
If you wish to expeience his ongoing charade just peruse the www.ncans.net website that majically appeared at the time of the open letter to George Bush in the'Washington Post' on February 8.I knew of the letter a day in advance as it was announced on the www.ragingbull.com jag media holdings or 'jagh' message board a day in advance.This is one of the many loosely Davidson related penny stock frauds that claim victims of 'naked short selling'.
And coincidentally ragingbull is one of those dark alleys of the internet where search egines don't tread so you would never find this on a Google or other search.Below are links to some of the subject matter I have raised here.
I could personally inform the CIA or the FBI or the SEC for that matter where to look for a number of questionable penny stock pumps and dumps where money laundering was no doubt involved.They would find plenty of such criminality by monitoring the ragingbull message board alone,where search engines fear to tread.
If they had followed Endovasc(evsc)message board they would know already of illegal boiler room operations with Belladorgroup of Kuala Lumpur and known terrorist money laundering kingdom of Dubai using Endovasc shares not only to accrue money in illegal pump and dump scheme using a Stanford patent to do so !!! ,but also probable money laundering by NEVER reporting this transaction to the SEC !!! Or they might look for Belladorgroup's 'Endovasc Scam Warning' or their Arizona attorney Logan's praise of Endovasc 'Management' under a message board search of 'endovasc'on David Marchant's www.offshorebusiness.com !!!
I'm honestly wondering if the CIA ARE NOT AS BAD AS THE TERRORISM THEY PURPORT TO CONTROL OR AT BEST A BAD VERSION OF KEYSTONE COPS.
Sincerely,
Tony Ryals
CIA Tenet and J.D.Davidson connected Bonner meet
at New Orleans conference in 2004.CIA uses James Dale Davidson's Agora in illegal pump and dump schemes to benefit himself and CIA insiders in various questionable penny stocks focused on 'defense' 'homeland security' and potential internet spying for personal gain - all under guise of protecting us. Americans are defrauded again !!!
http://www.spitzer2006.com/main.cfm?actionId=forumShowPostThread&forumId=76&topicId=243
Schwab,LOM Inquiry Causes Newsletter Writer to flee:
(Remember Endovasc ran pump and dump from Schwab account in 2002 as James Dale Davidson touted ilegally and lied about exchanging 'patent' with criminals who run Endovasc.)
http://www.spitzer2006.com/main.cfm?actionId=forumShowPostThread&forumId=76&topicId=241
Mantas Inc.:Is CIA on Wall Street better than the mafia ?
This is a follow up to my previous spitzer2006 discussion,'CIA Tenet, J.D. Davidson connected Bonner meet in New Orleans conference 2004',to be found in disussions list here.More on Mantis Inc.xan also be found on discussion 'SS funds in manipulated markets:
I don't think so.With the mafia there is always hope government will act to clean up,with the CIA on Wall Street there is more chance government will act to cover up.And, do cheap stock touts get promoted to the level of 'credibliity' of our CIA when they join forces with them or does the CIA get brought down to the cheap level of petty penny stock touts by their association ?
I believe also what I'm posting below re Mantas Inc.is relevant to this topic.Note that Mantas Inc. is conveniently located in the Beltway and has employees from ex FBI and other 'intelligence'agencies,I believe, and I have no doubt they could be EASILY influenced by the clout of the CIA or FBI TO COVER UP PUMP AND DUMP OPS AND CONSEQUENT MONEY LAUNDERING,if they were assured it was for(ha)'national security' and they would be protected.But where does that leave defrauded investors ? I'm sure it's great for CIA RETIREMENT ACCOUNTS THOUGH.
I still can't figure why the truth about Endovasc is held from me when it is obvious James Dale Davidson touted the stock in November 2002 and the Schwab 'select clients' account filled in May 2002 with 'up to 30 million shares' was certainly NOT for a long term 'investment', these 'select clients' didn't even pay anything for their shares,while I bought mine retail from Chuck The Schmuck,Schwab !!!
Now from logical deduction I know that account was dumped on and around November 2002 as Davidson touted and lied through his Agora's 'Vantage Point'.I asked Schwab AND Mantas Inc.to kindly check for unusual activity in that Schwab 'select clients' account around that time just in case there might be a 'glich' in Mantas Inc.'s software that may have failed to turn this up.But of course there was no 'glich',if as the article below claims,that Mantas was able to note even an individual's $5,000 a month deposit into her acount as 'unusual'.
No,Mantas and Schwab colluded in a cover up of a 'select clients' pump and dump and consequent money laundering of the illegal proceeds,offshore,no doubt.Why ? Because they,unlike me who bought retail from Chuck The Schmuck Schwab, were 'select clients' after all.
http://www.spitzer2006.com/main.cfm?actionId=forumShowPostThread&forumId=76&topicId=253
agency are not honest with themselves or us about their involvement with U.S. or foreign securities and this can lead to stock market insecurity for all of us.
For instance Mr.Tenet et.al. has already led our 'intelligence' agency from disastrous and incorrect speculation into a needless war with no end in sight.Why,if it were the truth,could he simply not have said,'I don't know',if there are 'weapons of mass destrustion'in Iraq and let the President make his decision based upon that ?
However now he and the CIA blunder on into stock investments in the name of 'national security'!!
If these companies are so important he nor the CIA need invest in them and certainly not tout them like used car salemen do their neext car on the lot.And this DOES lead to conflict of interest and an uneven investment playing field for 'regular' investors,to say the least,who do not have a CIA lobbying agency who can tout their stock to congressmen and get promises of government funding that will raise a stocks price overnight,much less access to insider trading which they then do and will have !!!
This is outrageous.And most of the stocks they 'invest' in or not old an established but most are 'penny stocks' with scammy penny stock rules,not old established 'blue chips' whose capitalization and more predictable income make them more immune from investor speculation and manipulation.
And what of the conflicts of dealing with cheap carnival type penny stock promoters of the likes of the Agora Publications' gang who Tenet met in New Orleans in 2004 and who touted the Ionatron pump and dump for Mr.Tenet and associates ?
I thought it a shame that James Dale Davidson and his Agora Publication's, 'Strategic Investment',(a penny stock mail fraud operation),used ex-CIA Chief Colby,in his old age and only for his name,to tout penny stock investments and fraudulently promise investors 100's of per centage point gains when Mr.Davidson was and is a known penny stock con artist.And then,without Colby's permission to my knowledge,(he died mysteriously shortly after),James Dale Davidson turned his penny stock tout mailing scam,with Colby's name on the letterhead,to a political tirade against Presisent Clinton,accusing him of killing Vince Foster with no proof whatsoever !! This,for personal vendetta or Beltway politics,only leads to destabilizing our government needlessly.
I point this out as a clear example of mixing our intelligence with scammy penny stock con artists and touts.Yet this group is precisely who Mr.Tenet teamed up with at a 2004 'investment symposium',the scamsters from Agora Publications'whose scammy penny tout tentacles spread across the globe.And Mr.James Dale Davidson of Agora is the man who ran the 'NAANSS'(DO GOOGLE SEARCH 'NAANSS') SCAM, ERRONEOUSLY CLAIMING TO BE A VICTIM OF 'NAKED SHORT SELLING',WHEN IN FACT HE WAS RUNNING AN ILLEGAL PUMP AND DUMP SCHEME WITH PENNY STOCKS SUCH AS ENDOVASC AND GENEMAX,AND ACTUALLY DEFRAUDING INVESTORS WITH TOUT PROMOTIONAL LIES THROUGH AGORA'S 'VANTAGE POINT' ETC., WHILE DUMPING MILLIONS OF UNAUDITED SHARES INTO THE MARKET !!!
I further believe 'Bob O'Brien' who placed an ad or letter costing $100,000 + in the 'Washington Post' on February 8 addressed to President Bush and warning of 'naked short selling' to SS investments in the market is none other than James Dale Davidson who ex-DIA George Tenet has knowingly or not allied himself to by attending that Agora dominated 'investment symposium' in New Orleans in 2004. And Agora touted Ionatron through its investmentu.com among other sources.
(Even some touting in Germany I believe.)
And since the letter to Bush has appeared there has been unending fraud using James Dale Davidson's old fraudulent claim of 'naked shorting' to conceal the touting and dumping of penny stocks once more.
If you wish to expeience his ongoing charade just peruse the www.ncans.net website that majically appeared at the time of the open letter to George Bush in the'Washington Post' on February 8.I knew of the letter a day in advance as it was announced on the www.ragingbull.com jag media holdings or 'jagh' message board a day in advance.This is one of the many loosely Davidson related penny stock frauds that claim victims of 'naked short selling'.
And coincidentally ragingbull is one of those dark alleys of the internet where search egines don't tread so you would never find this on a Google or other search.Below are links to some of the subject matter I have raised here.
I could personally inform the CIA or the FBI or the SEC for that matter where to look for a number of questionable penny stock pumps and dumps where money laundering was no doubt involved.They would find plenty of such criminality by monitoring the ragingbull message board alone,where search engines fear to tread.
If they had followed Endovasc(evsc)message board they would know already of illegal boiler room operations with Belladorgroup of Kuala Lumpur and known terrorist money laundering kingdom of Dubai using Endovasc shares not only to accrue money in illegal pump and dump scheme using a Stanford patent to do so !!! ,but also probable money laundering by NEVER reporting this transaction to the SEC !!! Or they might look for Belladorgroup's 'Endovasc Scam Warning' or their Arizona attorney Logan's praise of Endovasc 'Management' under a message board search of 'endovasc'on David Marchant's www.offshorebusiness.com !!!
I'm honestly wondering if the CIA ARE NOT AS BAD AS THE TERRORISM THEY PURPORT TO CONTROL OR AT BEST A BAD VERSION OF KEYSTONE COPS.
Sincerely,
Tony Ryals
CIA Tenet and J.D.Davidson connected Bonner meet
at New Orleans conference in 2004.CIA uses James Dale Davidson's Agora in illegal pump and dump schemes to benefit himself and CIA insiders in various questionable penny stocks focused on 'defense' 'homeland security' and potential internet spying for personal gain - all under guise of protecting us. Americans are defrauded again !!!
http://www.spitzer2006.com/main.cfm?actionId=forumShowPostThread&forumId=76&topicId=243
Schwab,LOM Inquiry Causes Newsletter Writer to flee:
(Remember Endovasc ran pump and dump from Schwab account in 2002 as James Dale Davidson touted ilegally and lied about exchanging 'patent' with criminals who run Endovasc.)
http://www.spitzer2006.com/main.cfm?actionId=forumShowPostThread&forumId=76&topicId=241
Mantas Inc.:Is CIA on Wall Street better than the mafia ?
This is a follow up to my previous spitzer2006 discussion,'CIA Tenet, J.D. Davidson connected Bonner meet in New Orleans conference 2004',to be found in disussions list here.More on Mantis Inc.xan also be found on discussion 'SS funds in manipulated markets:
I don't think so.With the mafia there is always hope government will act to clean up,with the CIA on Wall Street there is more chance government will act to cover up.And, do cheap stock touts get promoted to the level of 'credibliity' of our CIA when they join forces with them or does the CIA get brought down to the cheap level of petty penny stock touts by their association ?
I believe also what I'm posting below re Mantas Inc.is relevant to this topic.Note that Mantas Inc. is conveniently located in the Beltway and has employees from ex FBI and other 'intelligence'agencies,I believe, and I have no doubt they could be EASILY influenced by the clout of the CIA or FBI TO COVER UP PUMP AND DUMP OPS AND CONSEQUENT MONEY LAUNDERING,if they were assured it was for(ha)'national security' and they would be protected.But where does that leave defrauded investors ? I'm sure it's great for CIA RETIREMENT ACCOUNTS THOUGH.
I still can't figure why the truth about Endovasc is held from me when it is obvious James Dale Davidson touted the stock in November 2002 and the Schwab 'select clients' account filled in May 2002 with 'up to 30 million shares' was certainly NOT for a long term 'investment', these 'select clients' didn't even pay anything for their shares,while I bought mine retail from Chuck The Schmuck,Schwab !!!
Now from logical deduction I know that account was dumped on and around November 2002 as Davidson touted and lied through his Agora's 'Vantage Point'.I asked Schwab AND Mantas Inc.to kindly check for unusual activity in that Schwab 'select clients' account around that time just in case there might be a 'glich' in Mantas Inc.'s software that may have failed to turn this up.But of course there was no 'glich',if as the article below claims,that Mantas was able to note even an individual's $5,000 a month deposit into her acount as 'unusual'.
No,Mantas and Schwab colluded in a cover up of a 'select clients' pump and dump and consequent money laundering of the illegal proceeds,offshore,no doubt.Why ? Because they,unlike me who bought retail from Chuck The Schmuck Schwab, were 'select clients' after all.
http://www.spitzer2006.com/main.cfm?actionId=forumShowPostThread&forumId=76&topicId=253
national security is more diffacult than an average person could understand. Furthermore
imagine what family members of there employees must go through, I would assume that they
would be expected to have to lie or create some illusion because how could they risk what may
be said by mistake or what ever reason. could be a serious security risk. Myself I would consider
it an honor if asked to be able to help my country or an organization so important. O.K. here's my
Q. Hypothectically speaking, what if you were a scientist or what ever, and had a skill or level of
knowledge or proven area of demostrated ability that may benefit your org,. Well and it happens to
a relative or something along those lines. And since it is vital to security of are country. Your asked
to facilitate this. And services are performed with verbal promises of payment or a reasonable expectation or some form or remunaration. Would your org. follow through with there agreements.
Or since the fact of the matter they or so high level or above being held accountable for anything.
Would you honor this or is out of line to ask if has there ever been a situation where the answer is
N/A . I mean it seems like it would so easy to get what you what and then say nothing. And oh bye
the way did you know someone is asking questions about you know, If you understand me.
Should a person say well I understand because it was to help my country,. or Should they be justified
in having an expectation or agreements be honored.
Thank you so much for you time and allowing the ability to ask someone
of you level of respect and in such an important position.
Its just diffacult anyway you look at it when it includes families.
Respectfully Yours
M.E.F.
to families members.Would it go against your policy if the opposite happened., what I mean is
what if one of you employees, did something that exposed a family member of his or hers in that
of an operation that had to do with N.S. issues. And through simply trying to understand what was really
going on. suddenly at one point realized that he knew the real truth and not what was being publicly
for obvious security reasons what ever they may be, which made that family member, a liability or
at a higher level of risk for his own safety, With out the obvious support systems that I am sure
for provide for your employees, Basically putting his life at risk.
How could this be justified.
And how would your agency deal with this.
This is something that means more to certain people than you may be aware of.,
and is very real.
Please respond to me in what ever manner you may determine .
Mark Edward Feltenberg