Article: Credit Suisse scandals prompt Switzerland to think unthinkable: punish bankers

Article - Media, Publications

Credit Suisse scandals prompt Switzerland to think unthinkable: punish bankers

John O’Donnell and Brenna Neghaiwi, Reuters, 28 May 2021

Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable.

Credit Suisse’s heavy losses from the collapse of family office Archegos and the decimation of billions of client investments backed by insolvent British financier Greensill have angered regulators and triggered a rare discussion among lawmakers about fining bankers.

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Article: SEC chair Gensler says agency will enforce rules ‘aggressively’ against bad actors

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SEC chair Gensler says agency will enforce rules ‘aggressively’ against bad actors

Bob Pisani, 20 May 2021

Securities and Exchange Commission Chair Gary Gensler said he would be aggressively pursuing bad financial actors who were “playing with working families’ savings.”

Gensler made his remarks at a Financial Industry Regulatory Authority conference with Robert Cook, president and CEO of FINRA. FINRA is the agency that regulates broker-dealers and exchanges.

As he did in his recent Congressional testimony, Gensler emphasized that enforcement would be a key part of protecting the public.

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Lucy Komisar: How corrupt brokers, hedge funds with govt & media facilitators steal from stock market investors

Article - Media, Publications

How corrupt brokers, hedge funds with govt & media facilitators steal from stock market investors
My interview on the Superstonk youtube channel tells through three dramatic stories how corrupt brokers, hedge funds and their accomplices in government and the media steal from stock market investors. Superstonk is the investor site started by retail buyers of GameStop whose buys pushed up the stock price and cost hedge fund short sellers billions.

The key is naked short selling, when traders sell stocks they do not own, claiming they have borrowed or located where they can borrow them, and then never deliver the shares to buyers. More shares in the market drives their price down. Short sellers plan to then buy the shares at a cheaper price and deliver them. Or often they don’t deliver them at all. They “fail.”

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?