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

    Lois Lerner Of 2021: IRS Political Corruption Unchanged With Billionaires' Tax Returns

    Courtesy of ZeroHedge View original post here.

    Authored by Emily Miller via Emily Post News

    When the private tax returns of billionaires were leaked to a left-wing group, liberals and conservatives reacted very differently. Liberals fell for the political trick and immediately said that the tax code was unfair and the rich should get a tax hike. Conservatives saw through the conspiracy and wanted answers on how the Deep State at the IRS could, once again, have so much unchecked power for political purpo...



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    Phil's Favorites

    The PhilStockWorld com LIVE Weekly Webinar 06-16-2021

     

    For LIVE access on Wednesday afternoons, join us at PSW! 

    The PhilStockWorld com LIVE Weekly Webinar 06-09-2021

     

    Major Topics:
    00:00:14 - Checking on the Market
    00:01:42 - EIA Report
    00:09:50 - Intermediate Goods / Final Demand PPI / Inflation
    00:16:13 - GOOGL
    00:17:05 - MSFT / AA / AAPL
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    00:26:42 - U.S Housing Market / Wage Gap
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    Biotech/COVID-19

    A mix-and-match approach to COVID-19 vaccines could provide logistical and immunological benefits

     

    A mix-and-match approach to COVID-19 vaccines could provide logistical and immunological benefits

    One of this and one of that might be a good strategy to coronavirus vaccination. SOPA Images/LightRocket via Getty Images

    Courtesy of Maureen Ferran, Rochester Institute of Technology

    While it’s now pretty easy to get a COVID-19 shot in most places in the U.S., the vaccine rollout in other parts of the world has been slow or inconsistent due to ...



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    Chart School

    Gold Seasonals and T Theory Cycle Review

    Courtesy of Read the Ticker

    Gold tends to slump at the start of the US summer, and will Basel 3 make a difference this year?

    Basel 3 has removed a large chuck of paper shorts off the LBMA, of course this is for the banks only, the hedge funds can continue to suppress gold with paper shorts. The true effect of Basel 3 may not be known for some month. 


    A typical pattern in the metals is a smash down just before a major rally, consider this:


    POINT 1: IRD recent post did say this

    ..."I’m wondering if the entire 'Kabuki Theatre' production is being staged to...



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    Politics

    The Ukraine Fallacies (with Victor Rud)

     

    The Ukraine Fallacies (with Victor Rud)

    Americans are confused about the history of Ukraine. That's just how Russia wants it.

    Courtesy of Greg Olear, at PREVAIL

    Greg is the author of Dirty Rubles: An Introduction to Trump/Russia 

    ...

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    Promotions

    Live Webinar with Phil on Option Strategies

     

    June is TD Bank's Option Education Month, and today (Thursday, June 10) at 1 pm EST, Phil will speak with host Bryan Rogers about selling options and various option strategies that we use here at Phil's Stock World. Don't miss this event!

    Click here to register for TD's live webinar with Phil.

     

    ...

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    Digital Currencies

    Crypto: Congress Dawdles as $1.7 Trillion Con-Game Goes Unregulated, Threatening Reputation of U.S. Markets

    Courtesy of Pam Martens

    If you want to get your hair cut outside of your home in the United States, the job has to be done by a licensed worker at a regulated business. The same thing applies to plumbers, electricians, home inspectors, real estate and insurance agents. They all require a license and are subject to regulatory scrutiny.

    Likewise, commodities like corn, sugar, wheat, lumber and oil are all traded on regulated exchanges which are overseen by a federal regulator.

    But, for reasons that have yet to be explained to the American people, when it comes to the $1.7 trillion cryptocurrency market – which is effectively a con-g...



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    Kimble Charting Solutions

    Crude Oil Cleared For Blast Off On This Dual Breakout?

    Courtesy of Chris Kimble

    Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

    Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

    It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

    The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

    A successful breakout at (3) would suggest Crude Oil is about to mo...



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    ValueWalk

    Managing Investments As A Charity Or Nonprofit

    By Anna Peel. Originally published at ValueWalk.

    Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

    Q4 2020 hedge fund letters, conferences and more

    The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

    Finding ways to generate long-term, sustainable returns for ...



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    Mapping The Market

    Suez Canal: Critical Waterway Comes to a Halt

     

    Suez Canal: Critical Waterway Comes to a Halt

    Courtesy of Marcus Lu, Visual Capitalist

    The Suez Canal: A Critical Waterway Comes to a Halt

    On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

    With over 2...



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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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