Tag Archives: wall st
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 […]
EU antitrust suit uncovers bankster derivative scheme
Back in 2009, the Justice Department said it was investigating the large Wall Street banks for possible collusion in the huge and opaque credit default swaps market. The question was whether the big financial institutions had worked to keep transactions in these insurance-like instruments closed to competitors and more profitable for themselves. http://www.nytimes.com/2013/07/21/business/trying-to-pierce-a-wall-street-fog.html?nl=todaysheadlines&emc=edit_th_20130721&_r=0 Not much […]
Banksters JP Morgan lie to investigators
JPMorgan Chase, the nation’s biggest bank, ignored internal controls and manipulated documents as it racked up trading losses last year, while its influential chief executive withheld some information from regulators. http://dealbook.nytimes.com/2013/03/14/jpmorgan-faulted-on-controls-and-disclosure-in-trading-loss/?hp The multibillion-dollar trading blunder claimed the jobs of several top executives and prompted an inquiry by the Federal Bureau of Investigation. The 300-page report, […]
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 […]
Dirty Babylon 