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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    Zero Hedge

    10-Year Treasury Yield Plunges To Just 1 Basis Point Away From Recession "Tipping Point"

    Courtesy of ZeroHedge View original post here.

    After more than a month of shocking complacency (because what, central banks will somehow print antibodies and "fix" the covid pandemic which will restore collapsing global supply chains?) traders are "suddenly" realizing that the coronavirus outbreak contains a significant likelihood of impact to the global economy and the potential to become a black bat, pardon, black swan type event. An event which could quickly spiral into a US - and global - recession.

    How to determine if a recession is coming? One place to wat...



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    Phil's Favorites

    Threats to democracy: oligarchy, feudalism, dictatorship

     

    Threats to democracy: oligarchy, feudalism, dictatorship

    Courtesy of David Brin, Contrary Brin Blog 

    Fascinating and important to consider, since it is probably one of the reasons why the world aristocracy is pulling its all-out putsch right now… “Trillions will be inherited over the coming decades, further widening the wealth gap,” reports the Los Angeles Times. The beneficiaries aren’t all that young themselves. From 1989 to 2016, U.S. households inherited more than $8.5 trillion. Over that time, the average age of recipients rose by a decade to 51. More ...



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    Biotech & Health

    What scientists are doing to develop a vaccine for the new coronavirus

     

    What scientists are doing to develop a vaccine for the new coronavirus

    It is critical to learn more about SARS-CoV-2, including its source and why transmission appears to be more efficient than with previous coronaviruses. (Shutterstock)

    Courtesy of Marc-Antoine De La Vega, Université Laval

    With an increasing number of confirmed cases in China and 24 other countries, the COVID-19 epidemic caused by the novel coronavirus (now known as SARS-CoV-2) looks concerning to many. As of Feb. 19, the latest numbers listed 74,280 confirmed cases including 2,006 deaths. Four of these de...



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    Members' Corner

    Why do people believe con artists?

     

    Why do people believe con artists?

    Would you buy medicine from this man? Carol M. Highsmith/Wikimedia Commons

    Courtesy of Barry M. Mitnick, University of Pittsburgh

    What is real can seem pretty arbitrary. It’s easy to be fooled by misinformation disguised as news and deepfake videos showing people doing things they never did or said. Inaccurate information – even deliberately wrong informatio...



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    The Technical Traders

    Gold Rallies As Fear Take Center Stage

    Courtesy of Technical Traders

    Gold has rallied extensively from the lows near $1560 over the past 2 weeks.  At first, this rally didn’t catch too much attention with traders, but now the rally has reached new highs above $1613 and may attempt a move above $1750 as metals continue to reflect the fear in the global markets.

    We’ve been warning our friends and followers of the real potential in precious metals for many months – actually since early 2018.  Our predictive modeling system suggests Gold will rally above $1650 very quickly, then possibly stall a bit before continuing higher to target the $1750 range.

    The one thing all skilled traders must consider is the longer-term fear that is build...



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    Kimble Charting Solutions

    Precious Metals Eyeing Breakout Despite US Dollar Strength

    Courtesy of Chris Kimble

    Gold and silver prices have been on the rise in early 2020 as investors turn to precious metals as geopolitical concerns and news of coronavirus hit the airwaves.

    The rally in gold has been impressive, with prices surging past $1600 this week (note silver is nearing $18.50).

    What’s been particularly impressive about the Gold rally is that it has unfolded despite strength in the US Dollar.

    In today’s chart, we look at the ratio of Gold to the US Dollar Index. As you can see, this ratio has traded in a rising channel over the past 4 years.

    The Gold/US Dollar ratio is currently attempting a breakout of this rising channel at (1).

    This would come on further ...



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    Insider Scoop

    68 Stocks Moving In Friday's Mid-Day Session

    Courtesy of Benzinga

    Gainers
    • Trans World Entertainment Corporation (NASDAQ: TWMC) shares climbed 120.5% to $7.72 after the company disclosed that its subsidiary etailz entered into a deal with Encina for $25 million 3-year secured revolving credit facility.
    • Celldex Therapeutics, Inc. (NASDAQ: CLDX) fell 39.8% to $3.1744. Cantor Fitzgerald initiated coverage on Celldex Therapeutics with an Overweight rating and a $8 price target.
    • TSR, Inc. (NASDAQ: TSRI) gained 36.2% to $8.17.
    • ...


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    Digital Currencies

    Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

     

    Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

    ‘We have you surrounded!’ Wit Olszewski

    Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

    When bitcoin was trading at the dizzying heights of almost US$2...



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    ValueWalk

    What US companies are saying about coronavirus impact

    By Aman Jain. Originally published at ValueWalk.

    With the coronavirus outbreak coinciding with the U.S. earnings seasons, it is only normal to expect companies to talk about this deadly virus in their earnings conference calls. In fact, many major U.S. companies not only talked about coronavirus, but also warned about its potential impact on their financial numbers.

    Q4 2019 hedge fund letters, conferences and more

    Coronavirus impact: many US companies unclear

    According to ...



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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: Tuesday, 01 October 2019, 02:18:22 AM

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


    Comment: Wall of worry, or cliff of despair!



    Date Found: Tuesday, 01 October 2019, 06:54:30 AM

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


    Comment: Interesting.. Hitler good for the German DAX when he was winning! They believed .. until th...



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    Lee's Free Thinking

    Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

     

    Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

    Courtesy of  

    The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

    Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

    Lee,

    The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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    Mapping The Market

    How IPOs Are Priced

    Via Jean Luc 

    Funny but probably true:

    ...

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    Promotions

    Free eBook - "My Top Strategies for 2017"

     

     

    Here's a free ebook for you to check out! 

    Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

    In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

    This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

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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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