Monday, December 3, 2012

More Evidence of Financial Manipulation



Morgan Stanley Trader Faces Inquiry on Possible Manipulation by Susanne Craig The New York Times Deal Book http://dealbook.nytimes.com/2012/12/02/morgan-stanley-trader-faces-inquiry-on-possible-manipulation/?nl=todaysheadlines&emc=edit_th_20121203


[Excerpted] Specifically, regulators at the CME Group, which runs commodity and futures exchanges, are investigating whether Mr. Hadden’s purchases or sales of Treasury futures late in the trading day manipulated closing prices in the market and, in turn, made other of his trades more profitable, according to people briefed on the matter who were not authorized to speak publicly.

Majia here: The emphasis on individuals, such as Mr. Hadden, lends support to the idea that the problem of corruption is restricted to a few "bad apples."

In contrast, I would like to reiterate that the sheer volume of scandals - the Libor Scandal, the evidence of manipulation through naked short selling and blockages of other traders, and the fraud endemic in collateralized debt obligations - EVIDENCE WIDESPREAD FRAUD.


Jul 26, 2012
The second major scandal is the Libor scandal. This scandal demonstrates the degree to which the market system is rigged by the powerful players. The scandal concerns the London interbank offered rate, which according to ...


Nov 15, 2012
Why aren't the Wall Street banksters being charged criminally for the fraud and deception at the heart of the financial crisis. Two prominent economists have asserted publicly that criminal action was involved in the crisis: ...
 
Nov 26, 2012
Majia here: High frequency trading allows companies to engage in a variety of fraudulent activities -- including quote stuff and naked short selling -- thereby allowing companies to 'scalp' other traders' legitimate trades.

Oct 23, 2012
Majia here: High frequency trading allows companies to engage in a variety of fraudulent activities -- including quote stuff and naked short selling -- thereby allowing companies to 'scalp' other traders' legitimate trades.

Aug 28, 2011
Financial Warfare Using High Frequency Trading, Quote Stuffing and Naked Short Selling. This is a passage from an essay I've recently written on the subject of financial warfare. These are tools of financial warfare because ...

Sep 15, 2012
Financial Warfare Using High Frequency Trading, Quote Stuffing and Naked Short Selling http://majiasblog.blogspot.com/2011/08/financial-warfare-using-high-frequency.html ...

Aug 27, 2012
"Banks being probed for interest-rate manipulation face potentially tens of billions of dollars in claims from dozens of lawsuits in the US from cities, insurers, investors and lenders who say they were hurt by the allegedly fudged ...

Jul 27, 2012
WSJ: "Libor Suits Weighed by Mutual Fund Firms". The Wall Street Journal July 27, 2012 p. C3. Majia here: Do you have a 401k? If so, your investments may have been harmed by the big banks' manipulation of the Libor rate.

Jul 16, 2012
Good News: "States Step Into Libor Probe". The Wall Street Journal July 16, 2012 By J. Eaglesham, R. Albergotti, & M. Corkery p. C1, C2. [Excepted] "Prosecutors in New York and Connecticut are investigating whether their ...

Jul 05, 2012
I hope everyone is following this scandal. It is yet another example of how corrupt the financial world is. As if we need another example. The scandal concerns the London interbank offered rate, which according to The Wall ...

Feb 18, 2012
Paraphrasing: The article explains that the targets for the manipulation were the yen London interbank offered rate (yen Libor) and specific financial derivatives linked to Libor. The article reports that six banks on the yen Libor ...

No comments:

Post a Comment