Yale's illegal investments in Sudanese Oil

Yale's illegal investments in Sudanese Oil

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Subject: Yale's illegal investments in Sudanese Oil

Date: Mar 28, 2008 6:13 AM

(DATA and link below)

=========================Talisman is a Canadian Company that circumvented the US law where
Americans were
not allowed to do business with those people.

Yale also invested in an national commercial jails enterprise and
fired one of their
antiglobalist professors.

These Yale Insider links are all gone now:
http :// www .actionlyme.org/BRAINLESS BUREAUCRATS.htm
but the Yale Endowment Fund set up the two Yale RICO Labs, L2
Diagnostics and PolyGenomics:
http :// www .actionlyme.org/LYME CORRUPTICUT.htm

We think it is funny for Yale to act like it was Bush's bad policies
and administration
that is at fault for the global warming crisis, since they profiteered
in illegal,
destructive businesses for years before Junior came along. As regards
Lyme Disease,
Yale's Robert Schoen knew all along Yale could not prove they had a
Lyme vaccine:
http :// www .actionlyme.org/LYMERIX STORY.htm
http :// www .actionlyme.org/HOW RICO WILL BE CHARGED.htm
Schoen knew all along that antibodies B and A would have to be left
out of the diagnostic
standard, and that's what happened at CDC's 1994 Dearborn, MI, FARCE
of
a conference after Steere went to Europe:
http :// www .actionlyme.org/CRYMEDISEASE CHP3.htm


I just put this out there so that no one (like Yale) can blame anyone
else for being
incompetent. I have been making these same complaints for nearly a
decade, and
no one who's job it is to take action ever does.

The rest of the world is paying attention, though:
http :// www .actionlyme.org/NATIONS TO ACTIONLYME.htm

GOVERNMENTS of foreign nations, that is.

KMDickson
====================================
http :// www .yaleherald,com /article.php?Article“1
Yale's investment practices under fire

BY JAMES RUBIN

June, YaleInsider published a report linking Yale to unethical
investments in the
Sudan. In fact, Yale's investment in an equity fund, controlled by a
private
investment firm, may have supported the Sudanese government in a
vicious campaign
against Christian rebels in Sudan. While YaleInsider has often been
labeled as propaganda
machine for Local 34 and 35, the report raises new questions into how
Yale controls--and
is able to control--its investments.

Part of Yale's lack of control over the endowment comes from the
University's
method of investing. One of Yale's most frequently used investment
tools, private
equity funds, are nearly impossible to monitor and control.

"[Private equity] funds are set up as limited partnerships and limited
partners
have no say whatsoever in what investment decisions are made," Yale
School
of Management Professor David Cromwell said. "Only the general
partners can
make such decisions. It is extremely difficult to divest from a fund
once a limited
partner has signed contracts and pledged to it. The limited partner
must in fact
be released by the general partner." Cromwell formerly served as
president
and CEO of J.P. Morgan Capital Corporation, the bank's private equity
investment
group.

According to the Yale Endowment 2001 Annual Report, as of June 2001,
18.2 percent
of the endowment's assets were invested in private equity, with a
target of
25 percent. Having such large investments in equity has paid off.
According to the
2001 Annual Report, private equity investments have generated a 32.9
percent annualized
return.

But Yale's involvement in these equity funds has led many to suspect
that it
is unwittingly engaged in morally unsound investments. YaleInsider, a
website maintained
by the Federation of Hospital and University Employees, the parent
organization
of Locals 34 and 35, first published its report on Yale's investments
in Sudan
in June. YaleInsider explains how Yale's endowment has been invested
in various
private equity funds of Centennial Energy Partners LLC., run by money
manager Peter
Seldin. Seldin is the general partner of these funds, while Yale and
all other investors
are limited partners.

YaleInsider explains that Seldin invested a portion of the money in
his private
equity funds in Talisman Energy, Inc. The money trail continues from
Talisman, one
of the largest oil companies in Canada, to the large Sudanese Oil
Concession known
as the Greater Nile Petroleum Operating Company (GNPOC), in which
Talisman has a
sizeable 25 percent share.

GNPOC completed a pipeline in 1999, which, according to a report last
year by the
British Broadcasting Company, earns the government of Sudan as much as
$400 million
a year. The Muslim government of Sudan has been fighting a civil war
against Christian
rebels largely funded and supported by the United States. The Sudanese
government
doubled its military budget in the years following the creation of the
oil pipeline,
possibly leading to the breakdown of peace talks.

YaleInsider has published three other articles about Yale's
investments in questionable
businesses. According to a source from YaleInsider, these articles are
part of an
ongoing look into Yale's investment policy. "The union looks at Yale's
endowment because we care how our pension funds are invested," she
said. "We
believe that Yale should be an ethically responsible investor...the
original book
about investor responsibility came out of Yale. In it, passive
investing is abandoned
for ethical responsibility over the outcomes of investments. An
investment in Talisman,
given its nature as a publicly traded company, should be subject to
review by the
Advisory Committee on Investor Resp-onsibility."

However, Tom Conroy, assistant director of the Yale Office of Public
Affairs, defended
Yale's investment policy. "Yale adopted the guidelines of the ethical
investor
and...uses guidelines and [Investor Responsibility] committees," he
said. "Yale
has a structure in place as an ethical investor."

Conroy also suggested that YaleInsider has focused on Yale's
investments to
make the University look bad.

"As part of their bargaining efforts, [the unions] try to further
their goals...with
means such as those suggested in the Restructuring Associates Inc.
[report],"
Conroy said. According to the report issued by the independent labor
consultant,
"Union power is derived by attacking Yale's reputation. Doing so
effectively
requires forming alliances with others and expanding the battleground
beyond the
bargaining table and the campus itself."

But Cromwell concedes that if Yale is indeed engaged in unethical
investment practices,
the University is probably doing so unintentionally.

"The amount of disclosure made by the management company to the
limited partners
vary--there are no well established standards. Typically there is an
annual report
that includes a brief description of each of the investments, but this
can be released
12 to 15 months after the investment is made."

Either way, Yale Chief Investment Officer David Swensen, GRD '80,
refuses to
comment on whether or not the University is aware of where its money
is going. "It
is Yale's policy not to disclose individual security positions in its
endowment
portfolio or in any portfolio it holds an interest in," Swenson told
YaleInsider.
"Consequently, you may assume nothing on the basis of our failure to
confirm
or deny your speculations as to what securities Yale owns."