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Article: EU Watchdog Told To Crack Down After Wirecard Scandal

Article - Media, Publications

EU Watchdog Told To Crack Down After Wirecard Scandal

Najiyya Budaly, 01 March 2021

The European Union’s markets watchdog must improve its supervision of national regulators, a technical advice group said on Monday after it found that Germany’s largest post-war accounting fraud had laid bare deficiencies in the authority’s oversight of market abuse and auditing rules.

The Securities and Markets Stakeholder Group, which provides advice on policy development to the European Securities and Markets Authority, recommended that ESMA should improve protection for investors and ensure integrity in markets after an accounting scandal at Wirecard AG revealed gaps in its supervision. Continue reading “Article: EU Watchdog Told To Crack Down After Wirecard Scandal”

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Article: 77% of people surveyed believe Robinhood’s restriction of meme stocks during the GameStop frenzy was market manipulation, new report finds

Article - Media, Publications

77% of people surveyed believe Robinhood’s restriction of meme stocks during the GameStop frenzy was market manipulation, new report finds

Isabelle Lee, 01 March 2021

A survey by data analytics firm Invisibly found that 77% of people believe Robinhood’s restriction of certain stocks at the peak of the Reddit-fueled frenzy amounts to market manipulation.

Commission-free trading app Robinhood has faced significant backlash and scrutiny in the weeks since January’s Reddit-fueled short squeeze, with CEO Vlad Tenev grilled by legislators at February’s congressional hearing over the company’s decision to restrict buying of many of the “meme stocks” at the heart of the saga.

The move took the wind out of the momentum trade, and marked the end of January’s retail trader phenomenon.
Now, a recent study by data analytics from Invisibly found that a majority of people surveyed believe Robinhood’s restriction of meme stocks was market manipulation.

The study, which surveyed 1,300 people during the first week of February, also revealed that 39% felt the market mania was “exciting and good” for investors, while 17% felt it was “exciting but a bad investment.”

28% said the trading phenomenon was a positive event, and “shaking things up from time to time is a good thing”, while 15% felt it was detrimental to markets. Meanwhile, 40% of respondents believe that Robinhood and other retail trading services restricted some stocks to help hedge funds.

The survey paints a stark picture of the public’s perception of what transpired in late January, despite Robinhood stating that it restricted trading of some stocks due to clearinghouse requirements.

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Senator: Richard Blumenthal

People, Senator

Richard Blumenthal  (/ˈbluːmənθɔːl/; born February 13, 1946) is an American attorney and politician currently serving as the senior United States Senator from Connecticut, a seat to which he was first elected in 2010. A member of the Democratic Party, he is ranked as one of the wealthiest members of the Senate, with a net worth of over $100 million. Previously, he served as Attorney General of Connecticut from 1991 to 2011.

Born in Brooklyn, New York, Blumenthal attended Riverdale Country School, a private school in the Bronx. He graduated from Harvard College, where he was editorial chairman of The Harvard Crimson. He studied for a year at Trinity College, Cambridge, in England before attending Yale Law School, where he was editor-in-chief of the Yale Law Journal. While at Yale, he was a classmate of Bill and Hillary Clinton. From 1970 to 1976, Blumenthal served in the United States Marine Corps Reserve, where he attained the rank of sergeant. Continue reading “Senator: Richard Blumenthal”

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Investor: Carson Block

CEO, People

Carson Block  (Block grew up in Summit, New Jersey, and holds a law degree from Chicago-Kent College of Law.

Mr Block went to work with his father, a period he describes as “very embittering” as he was “lied to by a parade of management” of internet companies. He quit equity analysis for law school, later moving to Shanghai before leaving law and setting up the self-storage business in 2007. Continue reading “Investor: Carson Block”

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CEO: Bernard L. Schwartz

CEO, People

Bernard Leon Schwartz  Schwartz was born in Brooklyn, New York and grew up in the Bensonhurst neighborhood of Brooklyn. Schwartz graduated from Townsend Harris High School in NYC. He holds a B.S. in finance and an honorary doctorate of science from City University of New York.[1] He is a World War II veteran, having served in the US Army Air Corps.

After school, he worked as an accountant eventually becoming a partner at a Wall Street firm. Continue reading “CEO: Bernard L. Schwartz”

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Article: GameStop: Markets Adjust, Politicians Frown

Article - Media, Publications

GameStop: Markets Adjust, Politicians Frown

The week of February 22: GameStop, again, a poor choice for Interior, China’s rare-earths play, and much, much more, including the latest in our new podcast series, the Capital Record.

A slightly calmer day in the markets yesterday after Thursday’s wild ride, although GameStop — back in the news again after taking off again earlier in the week — stepped up to fill the gap for those who needed a little more volatility in their lives.

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Tweet: Marc Cohodes Doubles Down Against Patrick Byrne

Tweet

Marc Cohodes
@AlderLaneeggs
For those not thinking it thru with $OSTK . the @SEC_Enforcement
is after Patrick Byrne and his Pump and Dump, not Overstock. This is not new at all and they should get Patrick, for what he did was wrong and illegal.. It was also years ago so I could frankly care less.

@AlderLaneeggs Gosh, Marc, you keep climbing in the tag cloud at http://stopnakedshortselling.org. What do you do when declassification of white collar criminal communications and banking transactions happen? #WallSteet, #SEC We have it all. Time for you to make the deal.
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Article: Payback? SEC Run by Mrs. Peter Strzok Launches Investigation of Overstock Actions When Patrick Byrne Was CEO

Article - Media, Publications

Payback? SEC Run by Mrs. Peter Strzok Launches Investigation of Overstock Actions When Patrick Byrne Was CEO

ProTrumpNews Staff,  27 February 2021

Former Overstock.com CEO Patrick Byrne was a major player in the effort to investigate the 2020 election irregularities and fraud.

He offered his considerable resources to the Trump team.

He analyzed tons of data. Continue reading “Article: Payback? SEC Run by Mrs. Peter Strzok Launches Investigation of Overstock Actions When Patrick Byrne Was CEO”