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Post by imSINGLEruRICH on Jul 9, 2015 18:30:24 GMT -5
All Trading Halted On NYSE, CNBC StunnedSubmitted by Tyler Durden on 07/08/2015 *NYSE SUSPENDS TRADING IN ALL SECURITIES 11:32:57 - trades from NYSE drop sharply, sputter a few minutes, then nothing. Each dot a NYSE trade
11:59 AM - 8 Jul 2015 Rather hilariously, CNBC just could not comprehend this "broken market"... which happens multiple times a week... [/b]•*NASDAQ HAS DECLARED SELF-HELP AGAINST THE NYSE AMEX •*NASDAQ HAS DECLARED SELF-HELP AGAINST THE NYSE •*NYSE EXPERIENCING `TECHNICAL ISSUE': SPOKESWOMAN •*NYSE: ALL OPEN ORDERS WILL BE CANCELLED
And asked "what should the retail trader at home do?"
Prophetically, we wrote about precisely this one year ago when we documented the hilarious case of "social-network" stock CYNK. This is what we said then:
For all the drama and comedy surrounding the epic idiocy in which a bunch of "investors" took the price of non-existent company CYNK from essentially zero to a market cap of over $5 billion in under a week, most people missed the key message here: the stock is a harbinger of what is happening to the entire market. Because while those defending what is clear irrational exuberance, scratch that, irrational idiocy are quick to point out that CYNK's epic surge took place on less than 0.1% of its outstanding shares, these are the same people to say precisely the opposite about the S&P 500. "Ignore the collapsing volumes sending the stock market to all time high - it's perfectly normal" is an often repeated refrain by the permabullish crowd. Just not when it involves case studies in market insanity like CYNK apparently.
Perhaps ironically, it was the concurrent most recent crisis in Europe, that involving Portugal's cryptic Espirito Santo group, whose top-most HoldCo is largely shrouded in secrecy yet which somehow is not a deterrent to the sellside community to issue one after another "all is clear; don't pull your deposits please" note, that confirmed not only that nobody has any idea what the real situation of European banks is, but how the entire capital market has now become nothing more than one glorified CYNK penny-stock turning into a mid-cap.
Deutsche Bank's Jim Reid explains: "Whatever one feels about financials and the wider financial system, credit markets did arguably get a small glimpse of what things will be like when this cycle does actually end as the structurally impaired liquidity that exists in credit caused a small amount of panic yesterday morning before markets recovered in the European afternoon session. Liquidity is really poor in credit these days which doesn't matter when markets are in buy only mode as they have been for many quarters now, but it does matter on the days when you get a negative story."
In other words, just like the CEO of CYNK who promptly "made" a few billion in paper profits, it feels great to "make" money on virtually no volume. The problem arises when one tries to cash out of paper and into all too real profits.
* * *
And this happened...
www.zerohedge.com/news/2015-07-08/all-trading-halted-nyse-cnbc-stunned
goldengriff DIAMOND MINER Post by goldengriff on yesterday at 12:46pmVery, very glad I have my certs, you? GG
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Post by John Winston Lennon O'Boogie on Jul 21, 2015 10:23:45 GMT -5
Dodd-Frank just turned five-years old today, but can the confetti and the hats and horns.
For one, the government still effectively subsidizes mortgages, a practice that led to the financial collapse, and “too big to fail” banks that the Administration vowed to abolish with Dodd-Frank got even bigger.
It was the most sweeping bank reform since the Great Depression, one that introduced the Consumer Financial Protection Bureau, which has turned back billions of dollars to consumers in the form of mortgage and consumer credit reimbursements for alleged fraud, among other things.
Dodd-Frank cracked down on derivatives trading, and pushed banks to build bigger capital buffers to reduce the risk of “systemically important” financial institutions from collapsing, like Lehman Brothers. It also launched the Volcker Rule, which stops banks from engaging in risky proprietary trading for their own profit.
The legislation also unleashed a barrage of new rules to transform the banking system, including new leverage ratios, liquidity ratios, stable funding ratios, and ratios on risk-weighted assets.
Many of the new rules never saw the light of day in a Congressional hearing, since the Federal Reserve, which helped pencil these new requirements, is exempt from cost-benefit requirements, whereby other regulators must assess the costs or economic impact of their regulations.
Meanwhile, consumers and businesses are not exempt from higher banking and loan fees that bankers complain they had to enact to deal with the impact of the new rules.
Moreover, the law firm Davis Polk figures that just two-thirds of the Dodd-Frank rules have been finalized, and more than 20% of the laws’ required rules have yet to be proposed. Already, Wall Street has created an army of new workers just to deal with the law, leading one banker to quip: “See, the government really does create jobs.”
But as banks are laying off workers in operating positions, those jobs are being replaced by workers who must answer more than half a dozen government agencies’ every request, including the Federal Deposit Insurance Corp., the Treasury Dept., the Securities and Exchange Commission, the Office of the Comptroller of the Currency, as well as the Federal Reserve.
However, the law didn’t stop “too big to fail.” Today, the top 25 banks in the U.S. command over 56% of the total assets, according to estimates by the Federal Reserve. That’s an increase from June 2007, when the top 25 banks controlled a little over 53% of the total assets in the system. To combat too big to fail, the Federal Reserve just enacted a “surcharge” that applies to eight of the biggest U.S. banks, set to take full effect in 2019, meaning they must hold more capital than their smaller peers.
The financial reform law has also been blamed for hamstringing the estimated $10 trillion market for U.S. corporate debt, with fears that the law could exacerbate an interest rate shock for big companies.
The Volcker Rule is being blamed as the reason why large banks have dialed back their trading in some of the riskier parts of the corporate bond market, because the new regulation made it more costly and difficult to keep those bonds on their balance sheets. The restrictions dealing with risk discourages the intermediation role of the financial sector in these bonds. The belief is, the less able they are to take on big inventory positions in these debt securities, the less they can act as a buffer when investors are running for the exits.
Meanwhile, the Volcker Rule exempts Treasury holdings and Fannie Mae and Freddie Mac debt from its restrictions. Meaning, banks can continue to conduct proprietary trading in these securities. As of last fall, bank holdings of Treasuries had increased eightfold since 2007, based on FDIC data. In turn, primary dealers’ inventories of corporate-debt securities sunk to $38 billion, versus a high of $285 billion in 2007, according to the Federal Reserve Bank of New York.
Dodd-Frank is also of a piece with the notion that the same regulators who missed the 2008 crisis, who turned a blind eye to Citigroup’s (C) off balance sheet vehicles sitting in plain sight, will somehow catch or stop the next crisis, thanks to the new law. This, even though bank regulators still missed JPMorgan Chase’s (JPM) “London Whale” trading loss in 2012, despite the Wall Street Journal reporting that Morgan's "whale" trades were the talk of London and Wall Street. There also is still no talk in Dodd-Frank of the government’s subsidization of mortgage risk, after Fannie Mae and Freddie Mac got an estimated $188 billion bailout.'
Dodd-Frank has also been blamed for hurting community banks, which are important to small businesses and economic growth, the drivers of job creation. These smaller banks are typically the only financial institutions in an estimated 1,200 U.S. counties. Even though they had nothing to do with the financial crisis, they got caught up in the rush to regulate, in the “one size fits all” answer the government came up with.
Elizabeth MacDonald joined FOX Business Network (FBN) as stocks editor in September 2007 and is the author of Skirting Heresy: The Life and Times of Margery Kempe (Franciscan Media, June 2014). Follow Elizabeth MacDonald on Twitter @lizmacdonaldfox.
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Post by John Winston Lennon O'Boogie on Jul 21, 2015 10:51:38 GMT -5
With market jitters over Greece receding, Goldman Sachs is advising clients to load up on European stocks at the expense of U.S. assets.
The investment bank upgraded its short-term view on European equities to "overweight" from "neutral" in a note dated July 20, which cited the recent deal to start negotiating a new Greece debt package as one of the reasons for a more positive view, and downgraded U.S. equities to "underweight" from "neutral".
The euro's weakness against the dollar, the European Central Bank's quantitative-easing programme and accelerating economic growth should fuel European stocks' outperformance versus U.S. stocks, the note said.
The STOXX Europe 600 has rallied nearly nine percent in the last two weeks, as an impasse between Greece and its creditors was broken and they agreed a cash-for-reform deal.
"European equities have been one of the key asset classes to benefit from a fading of Greek risks," Goldman Sachs strategists said.
"While performance potential might be limited in the near-term after the strong rebound, several supportive fundamental factors should help outperformance of European vs. U.S. equities until year-end." (Reporting by Alistair Smout and Alasdair Pal; Editing by Lionel Laurent and Mark Potter)
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Post by imSINGLEruRICH on Aug 3, 2015 13:56:33 GMT -5
nada999999 DIAMOND JEDI WARLORD ***** Post by nada999999 on Jul 28, 2015 at 12:24amwww.deepcapture.com/2015/07/goldman-sachs-internal-memo-yesterday-easy-to-borrow-list-to-be-discontinued/ best news yet Categorized | The Deep Capture Campaign Goldman Sachs Internal Memo (Yesterday): “Easy to Borrow List to be Discontinued” Posted on 23 July 2015 by Patrick Byrne Tags: Goldman Sachs, market rigging, naked short selling, stock locateThis post may be a little inside-baseball. I will not explain at length the significance of this (if it does not make sense, you will have to read around in DeepCapture to understand it fully), but the short version is as follows. My battle with Wall Street started off as a fight regarding slop in the settlement system and how it could be used to rig the stock market (the battle later expanded into other areas, including organized crime, economic warfare, and what I felt was an insufficiently proactive regulatory environment, the latter of which, I am happy to say, is showing signs of real improvement). For a decade I have asserted that one of the sources of that slop has been the system that governs short selling. One of the sources of that slop has concerned how hedge funds locate stock to short sell. And one form of that slop originates in the “Easy to Borrow List” that prime brokerages put out each day. Every day each prime broker (e.g., Goldman, JP Morgan) looks at the stock it has available to lend to short sellers. Assume that a prime broker has 100,000 shares of Martha Stewart Omnimedia (ticker: MSO) “in the box,” which is to say, “available to lend.” They put that on a list of “Easy to Borrow” stocks that it then faxes in the morning to its hedge fund clients. A hedge fund who wants to short MSO then looks at this morning’s fax, and can short sell sell 100,000 shares of MSO. It can claim it has met its requirements to have a good faith belief that it will be able to locate stock to deliver in three days based on its having seen this morning’s Easy to Borrow list from its prime broker. Of course, three high school kids and a pet turtle can figure out the flaw in this system: there is nothing to keep five different hedge funds who all receive the same fax from all short selling that same 100,000 shares MSO, and thus, selling 500,000 shares into the market place (while only 100,000 are able to be delivered). Yet the authorities have traditionally done nothing to stop this, because the prime broker can say, “We didn’t lie, there were 100,000 MSO in the box this morning when we faxed out that list.” And the five individual hedge funds could not be pursued because each one could say, “I saw it on the Easy to Borrow list this morning, so I had a ‘good faith reason to believe’ I had located shares available to borrow.” Believe it or not, while the nefarious activities described within DeepCapture often use a lot of jargon, and likely seem highly arcane to outsiders, at their heart they are often no more complicated than that. Therein lies the brilliance of these illegal schemes: there is not one pair of dirty hands to cuff, just a bunch of smudgy fingers scattered throughout the system. Seven weeks ago the SEC (towards which I, having been quite a scold for many years, now feel compelled to give significant credit) tagged Merrill Lynch/Bank of America with an $11 million fine regarding their participation in such loosey-goosey activities over many years. See Merrill Lynch pays $11 mln to settle short sale violations (Reuters, June 1, 2015). In full disclosure, I should mention that Merrill Lynch/Bank of America are on the business end of a lawsuit concerning precisely these activities, a lawsuit which I filed years ago in California, which a few months ago received a green light from the California Supreme Court, which just this week had a judge assigned to try the case (who herself has called a Case Management Conference for August 12), and which, with a little bit of luck, will be being heard later this year or early in 2016 by twelve California citizens good and true. In a major development, yesterday afternoon Goldman circulated an internal memo announcing that it is discontinuing its long-standing use of Easy to Borrow lists. (To protect my source within Goldman I am sanitizing things by just posting a screen shot of the relevant portion):
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Post by John Winston Lennon O'Boogie on Aug 11, 2015 11:01:44 GMT -5
China devalues yuan after poor economic data Thomson ReutersPETE SWEENEY AND LU JIANXINAug 11th 2015 11:13AM China Devalues Yuan: How Does It Impact the Fed? China devalued its currency on Tuesday after a run of poor economic data, a move it billed as a free-market reform but which some suspect could be the beginning of a longer-term slide in the exchange rate. The central bank set its official guidance rate down nearly 2 percent to 6.2298 yuan per dollar - its lowest point in almost three years - in what it said was a change in methodology to make it more responsive to market forces. It was the biggest one-day fall since a massive devaluation in 1994 when China aligned its official and market rates. "Since China's trade in goods continues to post relatively large surpluses, the yuan's real effective exchange rate is still relatively strong versus various global currencies, and is deviating from market expectations," the central bank said. "Therefore, it is necessary to further improve the yuan's midpoint pricing to meet the needs of the market." The People's Bank of China (PBOC) called it a "one-off depreciation", but economists disagreed over the significance of a move that reversed a previous strong-yuan policy that aimed to boost domestic consumption and outward investment. "For a long time, I gave the PBOC credit for holding the line on the renminbi (yuan) and recognizing that while it might be tempting to try to shore up the old-growth model by devaluing the currency, that really was a dead end," said fund manager Patrick Chovanec of U.S.-based Silvercrest Asset Management. He said a strong yuan was needed to force China toward consumption and away from low-end manufacturing. "What the world needs from China is not more supply; what it needs is demand." The devaluation followed weekend data that showed China's exports tumbled 8.3 percent in July, hit by weaker demand from Europe, the United States and Japan, and that producer prices were well into their fourth year of deflation. The move hurt the Australian AUD=D4 and New Zealand NZD=D4 dollars and the Korean won KRW=D4, fanning talk of a round of currency devaluations from other major exporters. But some of Asia's most interventionist central banks appeared to be holding their nerve on currency policy. "I don't think the move would trigger a global currency war," a Japanese policymaker said. Economists pointed out that until Tuesday, China had held the yuan firm while its neighbors had debased their currencies. FEAR OF DEFLATION While a weaker yuan will not cure all the ills of China's exporters, which suffer from rising labor costs and quality problems, it would help relieve deflationary pressure, a far bigger economic concern in the view of some economists. Falling commodity prices have been blamed for producer price deflation, putting China at risk of repeating the deflationary cycle that blighted Japan for decades. Growth in China, the world's second-largest economy, has slowed markedly this year and is set to hit a 25-year low even if it meets its official 7 percent target. The devaluation hit shares in Asia and Europe. Chinese airline stocks also fell, given the impact higher fuel prices would have on their bottom line, though exporter stocks rose. Some said the move was also to blame for a fall in futures contracts tracking the S&P 500 index SPc1, given the potential hit to U.S. exports to China. MONEY MANAGEMENT Spot yuan ended at 6.3231 on Tuesday, its weakest close since September 2012. The spot yuan CNY=CFXS is allowed to rise or fall by 2 percent from a midpoint CNY=CFXSthat is set each day. In the past, the central bank set the midpoint by a formula based on a basket of currencies, but the methodology was never publicized and many believed the midpoint was frequently used as a way to bend the market to policy goals. Under the new method, investors moving assets out of yuan could take the rate lower in the weeks ahead. The yuan had been locked in an extremely narrow intraday range since March, varying only 0.3 percent. Some economists said the devaluation was also designed to support Beijing's push for theyuan to be included in a basket of reserve currencies known as Special Drawing Rights (SDR), which are used by the International Monetary Fund to lend money to sovereign borrowers. "The PBOC aims to move the renminbi to a freer floating and accessible currency, prerequisites for it to be given the IMF's reserve stamp of approval, and will see it move in a wider band," said Angus Campbell, analyst at FXpro. The IMF proposed in a report this month to put off any move to add the yuan to its benchmark currency basket until after September 2016, and it gave mixed reviews of Beijing's progress in making key financial reforms to its currency market. (Additional reporting by Samuel Shen and Kazunori Takada in SHANGHAI and Vidya Ranganathan in SINGAPORE; Editing by Mark Bendeich, Will Waterman and Ian Geoghegan) www.aol.com/article/2015/08/11/china-devalues-yuan-after-poor-economic-data/21221213/?icid=maing-grid7%7Cmain5%7Cdl1%7Csec1_lnk2%26pLid%3D778348124
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Post by John Winston Lennon O'Boogie on Aug 12, 2015 6:43:43 GMT -5
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Post by imSINGLEruRICH on Aug 12, 2015 6:50:57 GMT -5
China Delivers Sucker Punch to U.S. in Currency WarsBy Suzanne O'Halloran ·Published August 11, 2015 ·FOXBusiness For the first time in 20 years, the Chinese devalued the yuan. While investors have become accustomed to government officials tinkering with the stock market in recent weeks, the move to jump start the economy by the People’s Bank of China (PBOC) caught many off guard. Although U.S. reaction was knee-jerk with the dollar strengthening, it only fueled a trend already in place thanks to Japan and the Eurozone. In October, the Bank of Japan (BOJ) surprised global markets with a massive $1.4 trillion stimulus and in January the European Central Bank (ECB) did something similar with its $1 trillion bond buying stimulus program. Since then those currencies have all tumbled vs. the U.S. dollar, which makes it cheaper for trading partners to buy goods in these countries over the U.S. It may also be creating a profit problem for U.S. multinationals who automatically earn less due to currency fluctuations. U.S. profit growth for S&P 500 companies in the 2Q ’15 is now on the decline according to FactSet who also notes, if this holds, it will be the first year-over-year decrease in earnings since 3Q 2012. The currency hit is not lost on corporate executives. The word “currency” was the term cited by the largest number, or 56%, of S&P 500 companies during quarterly conference calls as noted by Senior Analyst John Butters. Europe was second and China was third. After devaluing the yuan, China may become a bigger problem for U.S. investors, according to former Morgan Stanley Asia Chairman Stephen Roach, who told FOX Business Network, “Investors are concluding today, despite the claims of the Peoples Bank of China, this is a one off move, this is the first of many moves to come and that’s the concern that got the markets rattled.”
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Post by imSINGLEruRICH on Aug 17, 2015 17:34:03 GMT -5
Aug 5, 2015 at 11:54am gurnblanston10 said:www.thedailybell.com/editorials/36456/John-Whitehead-They-Live-We-Sleep-A-Dictatorship-Disguised-as-a-Democracy/?uuid=6F80C4D8-5056-9627-3C351FD76B4E8CEF Comment: I heard on the radio news the other day - that there is a bill being introduced that says Congressmen can now trade stocks on insider information that they receive from special interests - with impunity. Legally. Before, it was with a wink and a nod. Now it's: get into office and get rich. Interesting. And, no: I am not naive (about this). I know it's been going on "forever". But, now "it's legal." Gurn Duc N Altum King of DiamondsYes Gurn, as we remember or should, it was about 3 or 4 years ago President Obama PUBLICLY said he was going to force a bill that would NOT allow Congress who have insider trading knowledge, to trade on it. About a year or 2 before that window of time Martha Stewart got sentenced 9 months or so for insider trading. Anyway, I remember it like yesterday when Obama publicly said "within the year" ( of that time) that he would rid that ability of congress using their insider trading knowledge. AND A YEAR LATER CAME ABOUT.... AND OBAMA PUBLICLY SAID, HE WAS NOT GOING TO FOLLOW THROUGH ON WHAT HE SAID A YEAR PRIOR, with the elimination of Congress using their insider trading knowledge. SO THAT THERE ALONE BACKS UP THE FACT THAT OUR CONGRESS HAS INSIDER TRADING KNOWLEDGE AND 2) THEY PROFIT OFF OF IT. FACT!!! And I agree with Lt.kk, change is coming and I believe these jokers will not be allowed no more to pull this illegal insider trading unlimited profits as it is against the law. And it is even worse when we add in the corruption level of these jokers making the laws but yet they are the worse abusers of such. I am hopeful and I remember a Steve Forbes interview back in 2008-ish I believe was the time frame where he spoke about if we were a gold backed system, that would eliminate 99.9% of government corruption. The first thought that comes to mind with that statement is if we were 100% asset backed, "FRACTIONAL RESERVE BANKING is the oxygen supply of the central banking debt based system and at the minimum, that means they can create/naked short currency for every one of our dollars, they can create 9 more out of thin air. So if money were held accountable to real assets, I seriously doubt Fractional Reserve Banking OR naked short selling of money would be allowed. So if there were no oxygen supply to fractional reserve banking, then there would be no oxygen supply to central banking which means no Federal Reserve or any other central bank debt based controlling structure. AND WHO DOES OUR GOVERNMENT GET THEIR MONEY FROM? THE FEDERAL RESERVE. I see many benefits of a gold backed system/ asset backed style system instead of a debt based system as the current controllers have been doing. If our government can not get their "infinite free-bees" from the Federal Reserve not being in existence, it sounds proper that our government would have to get it from the people and if we get back to the people and not the central banking objective, I TRULY BELIEVE that the Constitution is back in play and not the current corruptions of endless proportions as we are witnessing for those who have been paying attention to the obvious. Thanks again Gurn for bringing this post topic up again because it had me go directly back to a few years ago with Obama publicly stating he was going to make it law that the government could not profit off of their insider trading knowledge/connections.... proves 100% the admittance that our government officials profit off of insider trading. They are and have been in bed with the bad guys whom we have gone against in this battle imo. Thanks again Gurn.
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Post by imSINGLEruRICH on Aug 20, 2015 12:16:44 GMT -5
ty......alrich DIAMOND JEDI MASTER Post by alrich on yesterday at 12:37pm
Citi to pay $180 million for hedge fund sales linked to Smith Barney
The firm and brokers misled investors about risks of two hedge funds that collapsed in 2008, the SEC said Aug 17, 2015 @ 1:26 pm..............................................................................................................Citigroup Inc. has agreed to pay $180 million to settle charges tied to two hedge funds that the SEC said were improperly marketed and sold by private bankers and Smith Barney brokers in the run-up to the financial crisis.
Citigroup's alternative investment unit and brokers at the firm misrepresented the two funds, the Falcon Strategies Fund and ASTA/MAT funds, as low-risk, safe bond substitutes to advisory clients, despite the fact that the funds' own marketing materials said they should not be used as bond substitutes.
From 2002 to 2007, the firm raised almost $3 billion from around 4,000 investors in both funds, which resulted in billions of dollars in losses when the funds collapsed in 2008, the SEC said.
“Advisers at these Citigroup affiliates were supposed to be looking out for investors' best interests, but falsely assured them they were making safe investments even when the funds were on the brink of disaster,” said Andrew Ceresney, director of the SEC's enforcement division, in a statement. “Firms cannot insulate themselves from liability for their employees' misrepresentations by invoking the fine print contained in written disclosures.”
A spokeswoman for Citigroup, Danielle Romero-Apsilos, said in an email the firm was “pleased to have resolved this matter.” The firm did not admit or deny the SEC's allegations.
The Smith Barney unit was acquired by Morgan Stanley Wealth Management in 2009 as part of a joint venture. A spokeswoman for Morgan Stanley, Christine Jockle, declined to comment, noting that the allegations occurred prior to the acquisition.
The SEC placed a significant portion of the blame on Citigroup's alternative investment unit, which was acting as the fund manager for both funds, and was responsible for almost all the fund-related communications with investors and advisers, including crafting the sales pitches to investors. In some cases, the unit misled advisers about the safety of the fund, according to the settlement.
“The fund manager and the fund managers' staff played a significant role in drafting and disseminating information regarding the funds to investors and financial advisers without sufficient review or oversight to ensure that the information given to investors was accurate,” the SEC said.
In one case, Citigroup Private Bank had an internal risk rating that noted the funds had “significant risk to principal,” but that rating was never shared with the majority of investors and financial advisers, according to the SEC.
Robert Pearce, a securities attorney with an eponymous firm who said he represented investors in around 100 cases tied to the funds, said that after they imploded in 2008, numerous Citigroup financial advisers and private bankers complained to the firm's executive officers, including Sallie Krawcheck, who was then CEO of Citi's wealth management business. He said shares in the fund were generally sold in $500,000 blocks, and marketed to and sold by some of the top brokers at Smith Barney.
“The big producers with the big clients were jumping into these funds,” Mr. Pearce said. “They were sold as funds that were relatively safe because of this so-called hedge.”
Whether to compensate investors in the funds became a source of tension between Ms. Krawcheck and other senior executives at Citigroup as she advocated for the firm to repay some of the losses in the funds, according to a report from The New York Times in 2008.
As usual, taps on the wrists......par for the course !!
23 hours ago 144r said: From 2002 to 2007, the firm raised almost $3 billion from around 4,000 investors in both funds, which resulted in billions of dollars in losses when the funds collapsed in 2008, the SEC said.
AND THEY ONLY PAY
Citi to pay $180 million for hedge fund sales linked to Smith Barney
F CITI and F the SEC of chit
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Post by imSINGLEruRICH on Aug 23, 2015 7:04:04 GMT -5
“All Hell is Breaking Loose”: Rumors of September Market Crash Driving Panic
Posted on August 21, 2015 Is the stock market going to crash by the end of 2015? From The Economic Collapse Blog: Of course stock market crashes are already happening in 23 different nations around the planet, but most Americans don’t really care about those markets. The truth is that what matters to people in this country is the health of their own stock portfolios and retirement accounts. There are a lot of people out there that are very afraid of what could happen if the money that they have worked so hard to save gets wiped out in a sudden financial collapse. And right now there is an unprecedented amount of buzz about the potential for a giant stock market crash by the end of this calendar year. In fact, I don’t think that I have ever seen more experts come out with bold predictions that a stock market crash will happen within a very specific period of time. The following is a sampling of some of the experts that have made very bold proclamations about the rest of this year over the past few weeks. Many of these individuals are putting their credibility on the line by proclaiming that a stock market crash is just around the corner… -Tom McClellan says that we are heading for an “ugly decline” and that there will be “nothing good for bulls for the rest of the year”… Tom McClellan loves doing what financial advisers tell you not to do. He tries to time the financial markets — to the exact day, if his charts align just right.
At the moment, they are telling him to be bullish on the stock market for all of his trading time frames, including those that trade every few days, weeks and months. But bulls should be ready to flee, as soon as this week.
That’s because McClellan said his timing models suggest “THE” top in stocks will be hit some time between Aug. 20 and Aug. 26. He expects “nothing good for the bulls for the rest of the year,” he said in a phone interview with Markethingych.
McClellan doesn’t have a strong view on how far stocks could fall, just that it will probably be an “ugly decline” lasting into early 2016. -Harry Dent recently stated that we are just “weeks away” from a “global financial collapse“.
-Gerald Celente says that “the global economy has collapsed” and he is “predicting that we are going to see a global stock market crash before the end of the year“.
-Larry Edelson insists that he is “100% confident” that a global financial crisis will be triggered “within the next few months”… “On October 7, 2015, the first economic supercycle since 1929 will trigger a global financial crisis of epic proportions. It will bring Europe, Japan and the United States to their knees, sending nearly one billion human beings on a roller-coaster ride through hell for the next five years. A ride like no generation has ever seen. I am 100% confident it will hit within the next few months.”-Jeff Berwick, the editor of the Dollar Vigilante, says that there is “enough going on in September to have me incredibly curious and concerned about what’s going to happen“.
-Egon von Greyerz recently explained that he fears “that this coming September – October all hell will break loose in the world economy and markets“.
-Even the mainstream media is issuing ominous warnings now. Just a few days ago, one of the most important newspapers in the entire world published a major story about the coming crisis under this headline: “Doomsday clock for global market crash strikes one minute to midnight as central banks lose control“.
-The Bank for International Settlements and the IMF have jumped on the prediction bandwagon as well. The following comes from a recent piece by Brandon Smith… The BIS warns that the world is currently defenseless against the next market crisis. I would point out that the BIS has a record of predicting economic crashes, including back in 2007 just before the derivatives and credit crisis began. This ability to foresee fiscal disasters is far more likely due to the fact that the BIS is the dominant force in global central banking and is the cause of crisis, rather than merely a predictor of crisis. That is to say, it is easy to predict disasters you yourself are about to initiate.
It is no mistake that the warnings from the BIS and the IMF tend to come too little too late, or that they are beginning to compose cautionary press releases today that sound much like what alternative analysts were saying a few years ago. The goal of these globalist organizations is not to help people prepare, only to set themselves up as Johnny-come-lately prognosticators so that after a collapse they can claim they warned us all, which can then be used as a rationalization for why they are the best people to administrate the economies of the planet as a whole. So why are so many prominent voices now warning that a global financial crisis is imminent?
The answer is actually very simple.
A global financial crisis is imminent.
Back on June 25th, I issued a red alert for the last six months of 2015 before any of these other guys issued their warnings.
When I first issued my alert, things were still seemingly very calm in the financial world, and a lot of people out there thought that I was nuts.
Well, here we are just a couple of months later and all hell is breaking loose. 23 global stock markets are crashing, the price of oil has been imploding, a new currency war has erupted, industrial commodities are plunging just like they did prior to the market crash of 2008, a full-blown financial crisis has gripped South America with fear, and junk bonds are sending some very ominous signals.
In the U.S., things are beginning to slowly unravel. The Dow was down another 162 points on Wednesday, and overall we are now down almost 1000 points from the peak of the market. At this point, it isn’t going to take much to push us into a bear market.
So enjoy what is left of August.
September is right around the corner, and if the experts that I mentioned above are correct, then it is likely to be one wild month.www.silverdoctors.com/why-are-so-many-people-freaking-out-about-a-stock-market-crash-in-the-fall-of-2015/
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Post by John Winston Lennon O'Boogie on Aug 24, 2015 5:37:42 GMT -5
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Post by imSINGLEruRICH on Aug 25, 2015 6:29:41 GMT -5
harvscorvette Diamond Finder Post by harvscorvette on 11 hours ago
Today's Dow dropped MORE THAN what happened in September 2008 when it dropped ONLY 777.7 points.
TODAY August 24 2015 is has dropped more than 1000 PLUS points and we have not reached September 13 2015 yet.
The DOW will drop much further yet. We could see a drop of 5775 points down to 7000 points and more perhaps 7777.7 by September 2015 or just a complete melt down.
In September 29 2008 The day's loss knocked out approximately $1.2 trillion in market value, the first post-$1 trillion day ever, according to a drop in the Dow Jones Wilshire 5000, the broadest measure of the stock market.
August 24 2015 drops 1000 PLUS that is $2 TRILLION in market value.
Ask yourselves this, why are the banks not screaming for bailouts right now? Why is the US Treasury NOT borrowing more funds?
We are going to see deeper decline yet before September 13 2015.
Harv
money.cnn.com/2008/09/29/markets/markets_newyork/
By Alexandra Twin, CNNMoney.com senior writer Last Updated: September 29, 2008: 9:10 PM ET
NEW YORK (CNNMoney.com) -- Stocks skidded Monday, with the Dow slumping nearly 778 points, in the biggest single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan.
The day's loss knocked out approximately $1.2 trillion in market value, the first post-$1 trillion day ever, according to a drop in the Dow Jones Wilshire 5000, the broadest measure of the stock market.
The Dow Jones industrial average (INDU) lost 777.68, surpassing the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks. However the 7% decline does not rank among the top 10 percentage declines.
The Standard & Poor's 500 (SPX) index lost 8.8%, its seventh worst day ever on a percentage basis and the biggest one-day percentage drop since the crash of '87, when it lost 20.5%. The Nasdaq composite (COMP) fell 9.1%, its third worst day on a percentage basis and also its worst decline since the crash of '87.
August 24, 2015 The New York Times NYTimes.com » Breaking News Alert
BREAKING NEWS Stocks end a wild day down about 4%, as market turmoil spreads from China Monday, August 24, 2015 4:08 PM EDT Stock prices around the world bounced around wildly on Monday as investors debated if and when governments are likely to step in to calm the turmoil that has recently spiraled out from China. The Dow Jones industrial average plunged over 1,000 points immediately after the opening bell on Monday morning before recovering much of those losses and then dropping again nearly 600 points at the close. That followed a stock market rout in China — immediately named “Black Monday” by local commentators — in which the main Shanghai stock index fell 8.5 percent.
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Post by imSINGLEruRICH on Aug 25, 2015 6:32:47 GMT -5
Ha.... I remember way back, how people snickered, giggled and rolled their eyes whenever the word "Trillion" was uttered. Little did they know that .....
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Post by John Winston Lennon O'Boogie on Aug 26, 2015 12:52:06 GMT -5
Is Gas Below $2 in Your State?
By Matthew Rocco ·Published August 26, 2015 ·FOXBusiness
Gas stations are posting prices of $1.99 a gallon or less in 15 states, and drivers should expect more savings through the rest of the year.
As of Wednesday, sub-$2 regular gasoline is available in the following states, according to GasBuddy.com: •Alabama •Arkansas •Georgia •Indiana •Kentucky •Louisiana •Mississippi •Missouri •New Jersey •North Carolina •Oklahoma •South Carolina •Tennessee •Texas •Virginia
Some states only have a handful of stations that are under the milestone. For instance, just three stations in Indiana—where a BP (BP) refinery has ended a partial shutdown—have dropped their prices below $2 a gallon.
GasBuddy senior petroleum analyst Patrick DeHaan said the number of states could fluctuate, “but by and large we should see the number grow.”
DeHaan anticipates that over half of U.S. gas stations will charge less than $2 a gallon by the end of the year. Gas in the low-$2 range should be the norm for the fall months, he added.
More on this...
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Post by 3bid on Aug 26, 2015 20:03:57 GMT -5
"...drivers should expect more savings through the rest of the year, ERRRR I mean until the election is over."
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