Month: February 2021

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Businesswoman: Martha Stewart

Businesswoman, People

Martha Helen Stewart is an American retail businesswoman, writer, and television personality. As founder of Martha Stewart Living Omnimedia, she gained success through a variety of business ventures, encompassing publishing, broadcasting, merchandising and e-commerce. She has written numerous bestselling books, is the publisher of Martha Stewart Living magazine and hosted two syndicated television programs: Martha Stewart Living, which ran from 1993 to 2004, and Martha, which ran from 2005 to 2012..

In 2004, Stewart was convicted of charges related to the ImClone stock trading case; she served five months in federal prison and was released in March 2005. There was speculation that the incident would effectively end her media empire,but in 2005 Stewart began a comeback campaign[5] and her company returned to profitability in 2006. Continue reading “Businesswoman: Martha Stewart”

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Journalist: Herb Greenberg

Journalist, People

Herb Greenberg (born June 8, 1952 in Miami, Florida) is an American journalist. In November 2014 he started a new investment research firm called GVB Research, which was subsequently renamed Pacific Square Research. He had rejoined TheStreet on August 16, 2013 as a commentator and editor of Herb Greenberg’s Reality Check newsletter. He also continues as a contributor for CNBC, where Greenberg had been senior market commentator since June 2010..

Prior to joining CNBC, Greenberg left journalism to start a stock research firm with Debbie Meritz, an analyst and accountant. The firm, Greenberg Meritz Research & Analytics, was subscription-only and was targeted to institutional investors, investment banks and accounting firms. Continue reading “Journalist: Herb Greenberg”

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Subject: William H. Donaldson

People, Subject of Interest

William Henry Donaldson (born June 2, 1931) was the 27th Chairman of the U.S. Securities and Exchange Commission (SEC), serving from February 2003 to June 2005. He served as Under Secretary of State for International Security Affairs in the Nixon Administration, as a special adviser to Vice President Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange, and Chairman, President and CEO of Aetna.[1] Donaldson founded Donaldson, Lufkin & Jenrette..

He began his career at G. H. Walker & Co., a banking and brokerage firm.

Donaldson returned to Yale and founded the Yale School of Management, where he served as dean and professor of management studies. Donaldson had a vision of Yale’s management program forming students who could easily and seamlessly flow between public and private management roles. This was a binary vision, emphasizing private for profit corporations and government leadership positions, while ignoring leadership in various not-for-profit, non-governmental organizations. His grand visions of balanced approaches were shattered when the first graduating class almost all took positions in business, almost none taking jobs with government. The main building of the school continues to display a life-size portrait of him and the premier leadership award at Yale School of Management is called “Donaldson Fellows”. He also served in the United States Marine Corps Continue reading “Subject: William H. Donaldson”

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President: Donald Trump

People, President

Donald John Trump (born June 14, 1946) is an American media personality, businessman, and politician who served as the 45th president of the United States from 2017 to 2021..

Born and raised in Queens, New York City, Trump attended Fordham University for two years and received a bachelor’s degree in economics from the Wharton School of the University of Pennsylvania. He became the president of his father Fred Trump’s real estate business in 1971, and renamed it to The Trump Organization. Trump expanded the company’s operations to building and renovating skyscrapers, hotels, casinos, and golf courses. He later started various side ventures, mostly by licensing his name. Trump and his businesses have been involved in more than 4,000 state and federal legal actions, including six bankruptcies. He owned the Miss Universe brand of beauty pageants from 1996 to 2015 and produced and hosted the reality television series The Apprentice from 2004 to 2015. Continue reading “President: Donald Trump”

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Article: The Elon Musk Effect: The Timeless Power Of Disruption And Brand Authority

Article - Media, Publications

The Elon Musk Effect: The Timeless Power Of Disruption And Brand Authority

Ben Constanty, 25 February 2021

The odds are good that you have been impacted by the network effect, or when a product increases in value when more individuals begin adopting and using said product. A few examples include the telephone and the internet.

Company CEOs such as Elon Musk have recently expedited this process by using their personal brands to create a massive network effect in different industries. To get a better understanding, we need to dive in further. Continue reading “Article: The Elon Musk Effect: The Timeless Power Of Disruption And Brand Authority”

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Article: Banks Can Argue Funds Passed On UK Forex Rigging Losses

Article - Media, Publications

Banks Can Argue Funds Passed On UK Forex Rigging Losses

Christopher Crosby, 25 February 2021

Institutional investors suing some of the world’s largest banks for manipulating the foreign exchange market will have to prove their losses were not passed on to others after a London court ruled on Thursday that the issue has to be determined at trial.

Nigel Teare, sitting as a judge at the High Court, refused to knock down the legal defense raised by Barclays, CitiBank, HSBC and other lenders to fight claims for damages for allegedly manipulating benchmark rates in the forex market.. Continue reading “Article: Banks Can Argue Funds Passed On UK Forex Rigging Losses”

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Article: 180 Life Sciences Corp. Announces Closing of $11.7 Million Private Placement

Article - Media, Publications

180 Life Sciences Corp. Announces Closing of $11.7 Million Private Placement

GLOBE NEWSWIRE, 25 February 2021

180 Life Sciences Corp. (NASDAQ: ATNF) (180 Life Sciences or the “Company”), a clinical-stage biotechnology company with its lead indication in Phase 2b/3, focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, today announced the closing of its previously announced private placement of 2,564,000 shares of its common stock and accompanying warrants to purchase an aggregate of up to 2,564,000 shares of common stock at a combined purchase price of $4.55 per share and accompanying warrant. The warrants are exercisable immediately at an exercise price of $5.00 per share and expire five years from the date of issuance. Gross proceeds were approximately $11.7 million, before deducting placement agent fees and other offering expenses. The Company currently intends to use the net proceeds from this offering for general corporate purposes, working capital, and for the research and development of the Company’s programs that are not funded by grants.

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Subject: Bernie Madoff

Subject of Interest

Bernard Lawrence Madoff (/ˈmeɪdɔːf/;[1] born April 29, 1938) is an American former market maker, investment advisor, financier and convicted fraudster who is currently serving a federal prison sentence for offenses related to a massive Ponzi scheme.[2] He is the former non-executive chairman of the NASDAQ stock market,[3] the confessed operator of the largest Ponzi scheme in world history, and the largest financial fraud in U.S. history.[4] Prosecutors estimated the fraud to be worth $64.8 billion based on the amounts in the accounts of Madoff’s 4,800 clients as of November 30, 2008.[5]

Madoff founded a penny stock brokerage in 1960 which eventually grew into Bernard L. Madoff Investment Securities. He served as its chairman until his arrest on December 11, 2008.[6][7] The firm was one of the top market maker businesses on Wall Street,[8] which bypassed “specialist” firms by directly executing orders over the counter from retail brokers.[9]

Full Biography

 

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Article: The GameStop Mess Exposes the Naked Short Selling Scam

Article - Media, Publications

The GameStop Mess Exposes the Naked Short Selling Scam

LUCY KOMISAR, 25 February 2021

At the House Financial Services Committee hearing last week on the GameStop debacle, there was an elephant in the room: naked short selling.

Short selling, effectively betting that a stock will go down, involves a trader selling shares he does not own, hoping to buy them back at a lower price to make money on the spread. The trader is supposed to locate (or have a “reasonable belief” he can locate) or borrow the shares in brokerage accounts, and then transfer them to the buyer within two days. This accounts for as much as 50 percent of daily trading. Continue reading “Article: The GameStop Mess Exposes the Naked Short Selling Scam”

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Article: DTCC Proposes Shortening US Trading Settlement Cycle To T+1: Here’s Why That’s Important

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DTCC Proposes Shortening US Trading Settlement Cycle To T+1: Here’s Why That’s Important

Wayne Duggan, Benzinga, 24 February 2021

ROBERT STEELE: This article is such crap. As if DTCC had not willfully covered up $100 trillion in naked short counterfeit sales these past 15-20 years. Until DTCC is given a porcupine enema and we sent DOJ, FBI, and US Southern District Attorneys to jail for life for treason — enabling foreign collusion and domestic crime against the US economy — for life, this will not change.

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Article: Credit Suisse Virtual Financial Services Forum

Article - Media, Publications

Credit Suisse Virtual Financial Services Forum

State Street, 24 February 2021

Risk. Regulation. Complexity. To manage these challenges, and more, we’ve implemented a long-term strategy to support our stakeholders — employees, clients, communities and shareholders. Our strategy focuses on building on our strong core, achieving a digital enterprise, investing in opportunities and optimizing our capital. We maintain close relationships with analysts and investors to make sure they understand our goals, how we plan to get there and our progress along the way. Continue reading “Article: Credit Suisse Virtual Financial Services Forum”

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Article: The LIBOR Scandal

Article - Media, Publications

The LIBOR Scandal

Jason Fernando, 24 February 2021

What Is the LIBOR Scandal?
The LIBOR Scandal was a highly-publicized scheme in which bankers at several major financial institutions colluded with each other to manipulate the London Interbank Offered Rate (LIBOR). The scandal sowed distrust in the financial industry and led to a wave of fines, lawsuits, and regulatory actions. Although the scandal came to light in 2012, there is evidence suggesting that the collusion in question had been ongoing since as early as 2003.

Many leading financial institutions were implicated in the scandal, including Deutsche Bank (DB), Barclays (BCS), Citigroup (C), JPMorgan Chase (JPM), and the Royal Bank of Scotland (RBS).

As a result of the rate fixing scandal, questions around LIBOR’s validity as a credible benchmark rate have arisen and it is now being phased out. According to the Federal Reserve and regulators in the U.K., LIBOR will be phased out by June 30, 2023, and will be replaced by the Secured Overnight Financing Rate (SOFR). As part of this phase-out, LIBOR one-week and two-month USD LIBOR rates will no longer be published after December 31, 2021. Continue reading “Article: The LIBOR Scandal”

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Article: EU Watchdog Wants Zero-Commission Probe After GameStop

Article - Media, Publications

EU Watchdog Wants Zero-Commission Probe After GameStop

Irene Madongo, 24 February 2021

Commission-free trading should be scrutinized following the extreme volatility of stock in GameStop driven by a surge in trading using social media, according to the head of the European Union’s markets regulator.

Steven Maijoor, chairman of the European Securities and Markets Authority, took aim on Tuesday at a move toward allowing investors to trade stocks for free. He told the European Parliament’s economic affairs committee that low-cost or no-cost trading can create less transparency for investors. Continue reading “Article: EU Watchdog Wants Zero-Commission Probe After GameStop”

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Lawyer: Gary J. Aguirre

Lawyer

Gary J. Aguirre is an American lawyer, former investigator with the United States Securities and Exchange Commission (SEC) and whistleblower.

After working in a law firm briefly, he became a public defender, then worked as a trial lawyer in California. Having reached his professional and financial goals, he took an extended break in 1995. In 2000, he decided to go into public service and went back to law school, focusing on international and securities law. Continue reading “Lawyer: Gary J. Aguirre”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?