Tag Archives: Securities and Exchange Commission
SEC civil case against Lehman Brothers goes nowhere
The Securities and Exchange Commission’s eight-member Lehman Brothers team, having hit one dead end after another over the previous two years, concluded that suing the bank’s executives would be legally unjustified. The group, noting that prosecutors and F.B.I. agents had already walked away from a parallel criminal case, reached unanimous agreement to close its most […]
Banksters buy commodities industry to manipulate prices
An industrial dance has been choreographed by Goldman Sachs to exploit pricing regulations set up by an overseas commodities exchange. http://www.nytimes.com/2013/07/21/business/a-shuffle-of-aluminum-but-to-banks-pure-gold.html?pagewanted=1&_r=1&nl=todaysheadlines&emc=edit_th_20130721 There are 27 industrial warehouses in the Detroit area where a Goldman subsidiary stores customers’ aluminum. Each day, a fleet of trucks shuffles 1,500-pound bars of the metal among the warehouses. Two or three […]
Hedge fund king escapes SEC charges
The recent SEC settlements spare SAC’s founder, the billionaire Steven A. Cohen, who hasn’t been charged with wrongdoing. Mr. Cohen, one of the most successful hedge fund managers in the world, has long been considered a target of federal investigators. SAC Capital, the giant hedge fund, settled insider trading charges with the Securities and Exchange […]
Illinois defrauds investors and bilks pensioners
For the second time in history, federal regulators have accused an American state of securities fraud, finding that Illinois misled investors about the condition of its public pension system from 2005 to 2009. Illinois claimed that it had been properly funding public workers’ retirement plans when it had not. http://www.nytimes.com/2013/03/12/business/sec-accuses-illinois-of-securities-fraud.html?ref=us In particular, it cited the […]
Dirty Babylon 