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

    Salesforce Confirms Deal To Buy Slack

    Courtesy of ZeroHedge

    It's official. After reportedly entering high-level, late-stage talks, Salesforce, one of the newest members of the Dow 30, has agreed to buy Slack, a former Silicon Valley "unicorn" that IPO'd last year.

    Shares of the Slack have surged in after-hours trade on the news, as if the massive surge seen following the initial reports that the two companies were in talks wasn't enough.

    Here are the juicy details: $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals...



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    Zero Hedge

    Salesforce Confirms Deal To Buy Slack

    Courtesy of ZeroHedge

    It's official. After reportedly entering high-level, late-stage talks, Salesforce, one of the newest members of the Dow 30, has agreed to buy Slack, a former Silicon Valley "unicorn" that IPO'd last year.

    Shares of the Slack have surged in after-hours trade on the news, as if the massive surge seen following the initial reports that the two companies were in talks wasn't enough.

    Here are the juicy details: $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals...



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    Biotech/COVID-19

    Rapid COVID-19 tests can be useful - but there are far too few to put a dent in the pandemic

     

    Rapid COVID-19 tests can be useful – but there are far too few to put a dent in the pandemic

    Rapid tests for COVID-19 are easy to administer and give fast results. AP Photo/Julio Cortez, File

    Courtesy of Bonnie LaFleur, University of Arizona and Katherine Ellingson, University of Ari...



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    ValueWalk

    Have Technology Stocks Peaked? Texas Instruments At A Tipping-Point

    By Pierre Raymond. Originally published at ValueWalk.

    The Broad Market Index was up 2.27% last week and 55% of stocks out-performed the index.

    Q3 2020 hedge fund letters, conferences and more

    Another light week for SEC filings as we wait for the December 8th deadline for companies to report fiscal quarters ending in October. These are mostly retailers and their appearance this week will mark the end of update for the third quarter.

    Average sales growth is low and still falling. The proportion of companies recording a sales growth increase was 32%; up from 25% last quarter. This might mark the low point in...



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    Digital Currencies

    Five Reasons Why Bitcoin is Going Up

     

    Five Reasons Why Bitcoin is Going Up

    Courtesy of 

    Call it the “Respectability Rally”…

    A few reasons for Bitcoin’s return to the record highs. It’s about $18,500 as of this writing, matching the previous highs from 2017’s original explosion.

    Reason one: It’s going up because it’s going up. Don’t scoff, this is the reason most things in the markets happen and then the explanations are called for afterwards. I’m in financial television, I have literally watched this process occur in real-time. The more something moves in a given direction, the more peop...



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    Kimble Charting Solutions

    Will Silver Price Reversal Bring Another Historic Decline?

    Courtesy of Chris Kimble

    Precious metals caught lightning in a bottle for the first 7 months of the year, with Gold notching new all-time highs and Silver making to multi-year highs in August. But both have reversed lower since peaking in August and investors should pay attention.

    It might be nothing… or it might be something! Especially for Silver, which didn’t follow Gold’s lead in making all-time highs.

    Today’s chart is a long-term “monthly” chart of Silver. As you can see, it was hi-yo Silver for the first 7 months ...



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    Politics

    Mythmakers: The Men Who Created Donald J. Trump

     

    Mythmakers: The Men Who Created Donald J. Trump

    Mark Burnett, Jeff Zucker, and the Trustwashing of a Fake President

    Courtesy of Greg Olear, Prevail, author of Dirty Rubles: An Introduction to Trump/Russia 

    ...

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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: Friday, 12 June 2020, 08:06:43 PM

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


    Comment: Interesting (2)



    Date Found: Saturday, 13 June 2020, 12:27:02 AM

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


    Comment: Recession Forecasts Time Frame



    Date Found: Monday, 15 June 2020, 11:07:52 PM

    ...

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    Mapping The Market

    COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

    By Jacob Wolinsky. Originally published at ValueWalk.

    There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.

    The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.

    ...

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    The Technical Traders

    Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

    Courtesy of Technical Traders

    Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

    This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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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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    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

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    Feb. 26, 1pm EST

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

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

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    Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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