Posts Tagged ‘criminal probe’

10 Things You Need To Know That Are Going On This Weekend

SPECIAL EDITION: 10 Things You Need To Know That Are Going On This Weekend

Courtesy of Joe Weisenthal, at Clusterstock 

It’s a Saturday, but it certainly doesn’t feel like it, because there’s a heck of a lot going on. 

Here’s what you need to be paying attention to this May Day.

  • Greece/IMF/EU talks continue. According to Greek government officials, some kind of announcement may be made today. The market is hoping to hear something that’s orders of magnitude stronger than any bailout announcement we’ve gotten so far, or otherwise the feeling will be that it can and will fall through again.
  • Of course, there are fresh violent, anti-austerity protests going on today in Athens. The fact that it’s May Day, a day for celebrating anti-capitalism only adds to the tension.
  • New reports suggest the criminal probe into Goldman Sachs is not just a perfunctory follow-on to the SEC charges, but rather a truly separate thing that’s wider than Abacus, and that started before the SEC’s investigation. HUGE.
  • With just five days before the election, UK’s The Guardian has endorsed the Liberal Democrats, the country’s biggest third party. Its leader, Nick Clegg, has surged thanks to a string of strong debate performances, Gordon Brown’s disastrous campaigning, and a lingering sense of unease with the conservatives.


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    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Courtesy of Joe Weisenthal at Clusterstock 

    Banking CEO's Testify Before House On Use Of TARP Funds

    Following the SEC’s fraud charges against the firm, prosecutors have opened up a criminal probe of Goldman Sachs (GS), the WSJ is reporting this evening.

    There are several things to note here, particularly the fact that an initial probe is no guarantee that charges will actually filed. In fact, such initial probes are common after civil charges are brought.

    Although the ramifications of such a case would be enormous, the significant weaknesses and ambiguities that have emerged in the SEC’s case may make prosecutors gun-shy.

    Lady justice with scales

    Why else?

    Notes WSJ:

    But the Goldman probe presents a significant challenge for the government. Prosecutors in the Brooklyn office of the U.S. Attorney last year lost a high-profile fraud case against two former Bear Stearns Cos. executives, in the first major criminal case linked to the financial meltdown.

    Prosecutors had accused the Bear Stearns employees of lying to investors in 2007 about the health of two funds that eventually collapsed. The case centered on what the government viewed as incriminating emails indicating the traders knew the mortgage market would fall but didn’t disclose that view to investors.

    To bring any criminal charges in the Goldman matter, prosecutors would need to believe they had gathered evidence that showed that the firm or its employees knowingly committed fraud in their mortgage business. Proving such intent to break the law typically is the toughest hurdle for prosecutors to clear.

    Read the whole report > 


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    Phil's Favorites

    THINK AGAIN

     

    THINK AGAIN

    Courtesy of Grant's Almost Daily 

    Monetize this. The Treasury Department announced Monday that it projects $947 billion in debt issuance over the next three months, up 40% from a $677 billion forecast issued in May. The fourth quarter should see still more supply, with estimated marketable debt issuance of $1.216 trillion, or a further sequential increase of 28%.  

    Depending on the outcome of the congressional stimulus negotiations currently underway in Washington, those figures could increase further. The Congressional Budget Office pencils in a $3.5 trillion budget deficit in the 12 months through Sept. 30, compared to just under $1 trillion in fiscal 2019. 

    Of course, all that debt will need to find...



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    Zero Hedge

    Microsoft Reportedly Expands Scope Of TikTok Deal Talks To Cover Entire Ex-China Business

    Courtesy of ZeroHedge View original post here.

    Updates about the ongoing deal talks between Microsoft and ByteDance are arriving almost as rapidly as updates about the ongoing negotiations between the White House and Congressional Democrats over an extension of financial relief for American citizens and businesses.

    And the latest report comes from the FT, which says that Microsoft and ByteDance ar...



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    ValueWalk

    Coronavirus stimulus checks: McConnell ready to delay Aug recess

    By Aman Jain. Originally published at ValueWalk.

    We are now just days away from the August 7 deadline for the next coronavirus package. Though negotiators are working hard to come up with a deal, there are still differences between the two sides. In case there is no decision on the coronavirus stimulus checks deal by August 7, Senate Majority Leader Mitch McConnell has assured that they will delay the scheduled recess. Presently, the last day in session is scheduled for August 7, after which the Senate will go on a month-long break until September 8.

    Q2 2020 hedge fund letters, conferences and more

    Coronavirus stimulus: pr...

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    Kimble Charting Solutions

    Silver Headed Back To $50, Top Of The Cup & Handle Pattern?

    Courtesy of Chris Kimble

    Could Silver be creating a multi-decade bullish “Cup & Handle” pattern? Possible!

    Did a retest of a handle breakout take place in March at (1), where Silver created one of the largest bullish reversals in decades? Possible!

    Could Silver be creating a 40-year bullish pattern? Anything is possible! I humbly have to say share this; I’ve been in the business for 40-years and I haven’t seen anything like this.

    Silver looks to have double topped back in 2011 at $50, which was the 1980 highs. After double topping, Silver ...



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    The Technical Traders

    Walk Through the Gold and Silver Charts to See What to Expect

    Courtesy of Technical Traders

    Check out the analysis of this morning’s Gold and Silver charts by our own Chris Vermeulen, Chief Market Strategist and Founder of TheTechnicalTraders.com, to see what is in store for precious metals. Make sure you check out our Gold and Silver article from August 4th, 2020 for additional context behind our predictions and rationale for continued price appreciation.

    Learn more about our ...



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    Biotech/COVID-19

    What the huge COVID-19 testing undercount in the US means

     

    What the huge COVID-19 testing undercount in the US means

    Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

    Courtesy of Melissa Hawkins, American University

    Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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    Chart School

    RTT browsing latest..

    Courtesy of Read the Ticker

    Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



    Date Found: Sunday, 29 March 2020, 07:00:37 PM

    Click for popup. Clear your browser cache if image is not showing.


    Comment: Silver Shorts Are In a Bind | Ted Butler youtu.be/qQc0AoJp-Q8



    Date Found: Monday, 30 March 2020, 05:21:45 PM

    Click for popup. Clear your browser cache if image is not showing.


    Comment: 5 Questions From You for Luke Gromen youtu.be/nVZD_fuxbQE


    ...

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    Digital Currencies

    Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

    Courtesy of ZeroHedge

    Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

    Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

    "The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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    Lee's Free Thinking

    Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

     

    Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

    Courtesy of Lee Adler, WallStreetExaminer 

    The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

    Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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    Members' Corner

    Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

     

    Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

    No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

    Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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    Insider Scoop

    Economic Data Scheduled For Friday

    Courtesy of Benzinga

    • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
    • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
    • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
    • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
    ...

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    Promotions

    Free, Live Webinar on Stocks, Options and Trading Strategies

    TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

    Feb. 26, 1pm EST

    Click HERE to join the PSW weekly webinar at 1 pm EST.

    Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

    This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

    Mike will show off the TradeExchange's new platform which you can try for free.  

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    Mapping The Market

    How IPOs Are Priced

    Via Jean Luc 

    Funny but probably true:

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