Tag Archives: sec

SEC: Government destroyed evidence related to pre-911 put options

Posted on June 16, 2010 by maxkeiser| 28 Comments

Must have been accidental.

PirateMyfilm: Who is Broker Zero? The Story of How Alex. Brown & Sons made millions trading options on 9/11

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Tagged 911 put options, ab brown, alex brown, buzzy krongard, sec

S&P ‘fat finger’ strips Germany of AAA rating and SEC associate director joins HFT

Posted on June 12, 2010 by stacyherbert| 14 Comments

Stacy Summary: Lots of fat fingers out there in our hyperactive digitally interlocked world. I love that despite S&P accidentally downgrading Germany the yields improved! Speaking of high frequency trading, Elizabeth King, an SEC associate director joins GETCO, who, along with Goldman Sachs, are a major SLP (see today’s On the Edge).

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Tagged aaa rating, elizabeth king, germany, getco, hft, s&p, sec

Drop Dead Economics, Billion Dollar Goldman ‘Goalposts’ & the Fate of the Free World

Posted on May 21, 2010 by stacyherbert| 77 Comments

Stacy Summary: Good morning, y’all. Hope you are enjoying the currency roller coaster? And have you noticed the Canadian dollar???? At 1.07??

Drop Dead Economics (Michael Hudson)
Goldman Settlement May Hinge on How SEC Justifies Penalty
Fate of Free World Hangs on German Vote

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Tagged drop dead economics, german vote, goldman sachs, sec

Did Warren Buffett Pump & Dump His ‘Pretty Darn Good’ Holdings of Moody’s?

Posted on May 9, 2010 by stacyherbert| 125 Comments

Stacy Summary: So what did the heroic defender of Lloyd “Doing God’s Work” Blankfein know about Moody’s Wells notice when he was selling his shares? And what did he know when pushing the ‘pretty darn good’ business model of Moodys?

Moody’s, Berkshire & the SEC (Market Ticker)

Warren Buffett says rating agencies, like Moody’s, have a ‘pretty darn good’ business model

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Tagged moody's, sec, warren buffett, wells notice

SEC to probe whether malicious trading caused market plunge

Posted on May 7, 2010 by stacyherbert| 18 Comments

Stacy Summary: They say there was ‘unusual trading’ that contributed to the plunge. Wonder what they will find . . . and what they will then report? In the meantime, the exchange blame game. (By the way, the major French banks, BNP Paribas, SocGen and Credit Agricole are all down 7%+ today; while the euro is soaring on rumors of a massive bailout coming . . . )

SEC to probe whether accidental or malicious trading caused market crash

U.S. regulators plan to examine whether securities professionals triggered yesterday’s stock- market plunge or exploited the turmoil to profit illegally, two people with direct knowledge of the matter said.

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Tagged 'unusual trading', malicious trading, sec

‘National Security’ Jibber Jabber

Posted on January 25, 2010 by stacyherbert| 140 Comments

Stacy Summary: All the laws passed during the national pandemic of fear are being used to protect the select few and to abuse the many. SEC was asked to treat AIG / NY Fed as matter of national security.

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Tagged aig, sec

Too Big to Punish, SEC hands ‘Get of Jail Free’ Cards to Big Banks

Posted on December 9, 2009 by stacyherbert| 35 Comments

Stacy Summary: Let them eat cake. Let them eat cake. Let them eat cake.

For the Feds, some Wall Street firms are too big

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Tagged sec, Section 9(c), too big to punish

Flash bans, cancer villages and foreign investment

Posted on September 18, 2009 by stacyherbert| 13 Comments

Stacy Summary: Good mornin’ y’all. Oh, and hat tip to all who posted link and sent emails on the flash ban. Too many of you to name them all!

SEC proposes to ban flash trading

Foreign investment in UK falls by half

Cancer villages in China (supplying deadly products for Walmart)

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Tagged cancer villages, flash trading, sec

“It’s truly a come-to-Jesus moment for Bank of America”

Posted on September 15, 2009 by stacyherbert| 56 Comments

Stacy Summary: It will be truly unbelievable if justice is actually served. If I remember my mafia history, however, it’s often to get past the horse-head in the bed to the actual trial.

Judge rejects SEC-BofA deal

Rakoff, in his ruling, found that the settlement “suggests a rather cynical relationship between the parties: the SEC gets to claim that it is exposing wrongdoing on the part of the Bank of America in a high-profile merger, the bank’s management gets to claim that they have been coerced into an onerous settlement by overzealous regulators. And all this is done at the expense, not only of the shareholders, but also of the truth.”

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Tagged bank of america, sec

Merely ‘Incompetent’ and the broken link between prices and value

Posted on September 2, 2009 by stacyherbert| 38 Comments

Stacy Summary: What a big shock it is to learn that the inspector general finds the SEC innocent of corruption! There will never be a self-reported finding of corruption in this, the biggest systemic financial fraud in history.

SEC ‘incompetent,’ ‘not corrupt’

High frequency trading “has destroyed the link between prices and value”

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Tagged bernie madoff, sec

Hank’s inflated reserves, China’s fake data, America’s underwater mortgages & Murdoch’s unfree online news

Posted on August 6, 2009 by stacyherbert| 44 Comments

Stacy Summary: It seems perception of health is being pushed harder and harder everywhere, while most people in reality are sinking deeper and deeper underwater. By the way, Max is going to be on France24′s Face Off again today. Last time, we had the “Goldman Sachs are scum” viral hit. Lord knows what this one will bring . . .

Hank Greenberg reportedly facing lawsuit from SEC for his role in inflating AIG reserves

About half of US mortgages underwater by 2011 (h/t @Phil)

American incomes fall 4.7%, most since records began in 1960

Marc Faber: China’s numbers are fake

UK says its data shows economy on ‘cusp of fightback’ (h/t Mike/Liverpool)

Rupert Murdoch to begin charging on all his online news sites

Wall St banks and lawyers to make $1 billion to break up AIG

American woman to marry a magic carpet fairground ride

Royal Mint doubles production of gold coins to meet demand

US electronics firm closes factory in France after French workers beat up visiting American boss

Prince Bandar under house arrest for ‘conspiracy against the monarch’

Stacy – this last story about Bandar is four days old, but has not been reported in one single Western media source; if anyone finds any other reporting of it and/or a confirmation of the story, please post in comments!

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Tagged hank greenberg, marc faber, negative equity, royal mint, sec

Madoff: I would have been caught sooner if SEC weren’t captured regulator

Posted on July 29, 2009 by stacyherbert| 15 Comments

Stacy Summary: I paraphrase Madoff but the gist of the headline is correct. Of course, Madoff wouldn’t have been so successful a con-man if it weren’t for the fact that there is a sucker born every micro-second – like Temasek . . . .