Naked Gold Shorts: The Hows and Whys of Gold Price Manipulation
Commodity Trade Mantra, 20 January 2014
The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused by the financial crisis.
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Social Rejection?: Hedgie Steve Cohen Wants Out of East Hampton
Smashmouth Investigative Journalism, 17 January 2014
The world’s most infamous trader wants to get out of East Hampton, NY. Yesterday I reported for the New York Observer that Stevie Cohen, of SAC Capital, is trying to broker a private deal to sell a $60 million ocean front home he bought less than a year ago. His reasoning, according to a person on the deal, is East Hampton is ‘too Jewish’ and he has instructed people to start looking for another home in other Hampton enclaves.
This one real estate transaction has fueled a social media debate about what he’s really doing. Having lived and worked among Cohen-ites and his SAC Captial traders for the last decade out in Connecticut’s gold coast I don’t think his comment is a signal of anything anti-Jewish. Instead I believe it shows his social network could be failing since the hedge fund he founded plead guilty to supporting a culture of massive inside trading. Continue reading “Article: Social Rejection?: Hedgie Steve Cohen Wants Out of East Hampton”
CGI inks $14.5 million with government, moves futher into B.C.
Rebecca Reid, 15 January 2014
It’s been a week of contracts and acquisitions for Montreal-based CGI Group Inc., as the company snagged a big deal with a federal government department and expanded its presence in B.C. with a buy. Continue reading “Article: CGI inks $14.5 million with government, moves futher into B.C.”