By Jeff McCord of The Investor Advocate USA: History’s Largest Free Port for Financial Freebooters? The term “freebooter,” derived from the Dutch vrijbuiter, means one who openly steals property. Once freebooters sailed the coasts of the Carolinas, Florida and Caribbean isles from free ports such as Port Royal, Jamaica, taking what they wished with little […]
Trade and Development Run 75411 picked up this recent report over at Economists View where someone (Goldilocksisableachblond?) pointed to a recent UN report TRADE AND DEVELOPMENT REPORT, 2012 Run says: There are some interesting comments within the Overview to the much longer report, which I found germaine to what is happening in the US and […]
Top bank lawyer’s e-mails show Washington’s inside game at Bloomberg shares insights into how regulation is impacted when regulators and the industry regulated share too much. Pruning Hedge Fund Regulation Without Cultivating Better Rules By Jesse Eisenger, ProPublica at Dealbook, NYT also writes on the SEC and de-regulationscommercial water slides for sale.
“Mother” of All Bank Frauds Shocks and Awes Regulators,As LIBOR Victims Seek Justice By Jeff McCord of The Investor Advocatewww.the-investor-advocate.comAugust 21, 2012 Many wonder why Federal regulatory precincts are so quiet several weeks following discovery that the London Interbank Offered Rate (LIBOR), a key interest rate determining charges to and earnings by American borrowers, lenders, […]
I can’t help but compare Yves Smith’s appraisal of SEC performance and either party’s political attitude to the previous post by Peter Henning: If you merely looked at the SEC’s record on enforcement, you’d conclude that it suffered from a Keystone Kops-like inability to get out of its own way. The question remains whether that […]
The NYT reported that: Standard Chartered, the British bank, has agreed to pay New York’s top banking regulator $340 million to settle claims that it laundered hundreds of billions of dollars in tainted money for Iran and lied to regulators.(Dan here…We do not know how much remained with Standard Charter as various kinds of fees, […]
Peter J. Henning, a colleague of Linda Beale, poses the question in the NYT: Is That It for Financial Crisis Cases? Last week turned out to be a good one for Goldman Sachs. The Justice Department closed a criminal investigation of the firm and its chief executive, Lloyd C. Blankfein, and the firm disclosed that […]
Economist Mark Blyth talks on Europe and rescuing the banks… See 35 minutes in on context for LIBOR troubles. (70% of the special investment vehicles designed to pump and dump mortgages belong to European not American banks … Euro banks listed their periphery debt as Tier One Capital under Basel.)
Posted from an e-mail today comes this comment from Noni Mausa. For me the key is how to filter the noise from the music so to speak. And this involves being willing and then doing the quick checks on something that catches your eye. You don’t have to agree with Noni’s conclusions to make yourself […]
by Mike Kimel The Crux of the Problem in the Financial Industry A great set of lines from William Black posted at Barry Ritholtz’s Big Picture: The Jamie Dimons of the world know that if they win the gambles they will be made immensely wealthy and that when they lose the gambles massively the federal […]