Article: “A Gigantic Clusterf**k”: How Morgan Stanley Avoided $10BN In Archegos Losses By Selling First

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“A Gigantic Clusterf**k”: How Morgan Stanley Avoided $10BN In Archegos Losses By Selling First

TYLER DURDEN, 07 April 2021

One week ago, in our initial take on the biggest hedge fund collapse since LTCM, we explained that – in our view – the catalyst for the failure of the Archegos hedge fund, which had as much as 10x leverage allowing it to hold some $100BN in positions, was Morgan Stanley and Goldman breaking ranks with their fellow prime brokers, and sparking the biggest margin call since Lehman and AIG.

Turns out we were right. Continue reading “Article: “A Gigantic Clusterf**k”: How Morgan Stanley Avoided $10BN In Archegos Losses By Selling First”

Article: Fraudsters Siphon $100 Million In COVID Relief Through Online Investment Platforms

Article - Media, Publications

Fraudsters Siphon $100 Million In COVID Relief Through Online Investment Platforms

PYMNTS, 30 March 2021


Scammers stealing from government-funded pandemic relief programs have found a new trick — opening accounts with at least four online investment platforms, CNBC reported Monday (March 29).

Law enforcement officials say digital platforms are an easy way to dump money into stolen identity accounts.

Authorities say over $100 million in fraudulent funds reportedly passed through investment accounts in the time since Congress passed the CARES Act last March.

Among the platforms allegedly used by thieves are Robinhood, TD Ameritrade, E-Trade and Fidelity, according to law enforcement.

“The thieves are loving this stuff. This has been the financial crime bonanza act of 2021,” said Charles Intriago, a money-laundering expert and former federal prosecutor, according to CNBC. Continue reading “Article: Fraudsters Siphon $100 Million In COVID Relief Through Online Investment Platforms”

Article: COVID FRAUDSTERS ARE NOW TARGETING INVESTMENT PLATFORMS

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COVID FRAUDSTERS ARE NOW TARGETING INVESTMENT PLATFORMS

Jacob Wolinsky,  30 March 2021

CNBC’s Senior Washington Correspondent Eamon Javers reports on covid fraudsters that are stealing people’s identities to open up investment accounts with apps like Robinhood to hide the source of their funds. A law enforcement official told CNBC that at least four investment platforms are being targeted by criminals. The digital platforms, investigators said, are easy to dump the money into by setting up accounts with stolen identities and more than $100 million in fraudulent funds passed through investment accounts since Congress passed the CARES Act last March, according to authorities.

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Article: Tesla Customers Report Being Charged Double on New Cars

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Tesla Customers Report Being Charged Double on New Cars

Yaёl Bizouati-Kennedy,  30 March 2021

“Things @Tesla has done for me in the past 2 days: 1) stolen 5 figures directly from my bank account, and that of at least 400 other buyers 2) not delivered the car that was promised yesterday and paid for (TWICE, as it turns out) 3) provided zero contact. Thanks, @elonmusk!” one of these Tesla buyers, Tom Slateery, posted on Twitter.

Slattery told CNBC that on March 24, he received a text from Tesla saying the car he had ordered in January could be delivered to his home in one to three days via the company’s “contactless” delivery service.

The following day, Slattery found his bank account “depleted by nearly $53,000 more than he expected — the sum he agreed to pay for a long-range, all-wheel-drive, 2021 Tesla Model Y. It would be a second Tesla for his family,” according to CNBC. Continue reading “Article: Tesla Customers Report Being Charged Double on New Cars”

Article: In Cramer We Trust

Article - Media, Publications

In Cramer We Trust

HARRISON R. T. WARD,  24 March 2021

Without trust, markets break down. The U.S. dollar is a fiat currency, which means that its value is derived from the trust we ascribe to our government; as that trust wanes, Americans turn away from traditional financial institutions. During the 2008 financial crisis, many everyday Americans, unsure of who to trust, took their money out of banks en masse. Large commercial banks began to fail; by 2012, almost 450 banks had collapsed. Today, deep into a historic pandemic and recession marked by political division, Americans’ trust is waning again.

On Jan. 27, a group of amateur traders helped push the stock of struggling video game retailer Gamestop to a price of $347 per share. Alarmed, financial experts took to the air to warn against what Alan Greenspan, former chair of the Federal Reserve, calls “irrational exuberance” — an unreasonable, optimistic view that the market will keep rising. Jim J. Cramer ’77, host of CNBC’s finance show “Mad Money,” was of those exasperated experts — “People begin to think, ‘Are prices real?’” he exclaimed on the air. Continue reading “Article: In Cramer We Trust”

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”

Article: Swiss central bank chief rejects ‘currency manipulator’ label from the U.S.

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Swiss central bank chief rejects ‘currency manipulator’ label from the U.S.

Elliot Smith, 17 December 2020

LONDON — Swiss National Bank President Thomas Jordan has rejected a U.S. decision to label Switzerland a “currency manipulator.”

The U.S. Treasury on Wednesday added Switzerland to a list of nations it suspects of deliberately devaluing their currencies against the dollar.

Jordan told CNBC on Thursday that neither the SNB nor Switzerland itself has artificially manipulated the value of the Swiss franc.

“Our monetary policy is necessary, it is legitimate, and we have a very low inflation rate — it is even negative at this moment — so we have to fight this deflation, and the Swiss franc is very strong, so it appreciated in nominal terms over the last 12 years enormously, both vis-a-vis the euro and vis-a-vis the U.S. dollar,” he said. Continue reading “Article: Swiss central bank chief rejects ‘currency manipulator’ label from the U.S.”

Article: CNBC’s Jim Cramer says enough is enough: ‘This is the beginning of the end of the selloff’

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CNBC’s Jim Cramer says enough is enough: ‘This is the beginning of the end of the selloff’

Shawn Langlois, 21 June 2020

The stock market was getting beaten up pretty badly midway through Monday’s trading session, with the Dow Jones Industrial Average DJIA, -0.38% down more than 800 points amid rising concerns of another spike in COVID-19 cases in Europe.

But CNBC’s “Mad Money” host Jim Cramer, who has been telling his viewers for weeks to consider locking in profit, doesn’t seem to be too worried about it.

Continue reading “Article: CNBC’s Jim Cramer says enough is enough: ‘This is the beginning of the end of the selloff’”

Tip: Riot Blockchain Fucked by CNBC and SEC to Protect Naked Short Sellers and Major Institutions Doing Naked Short Selling

Tip

A public company that crushed short sellers The stock went form $3 to $45 The shorts on Wall St were screaming Fraud even CNBC was in on this one to stop the stock from GOING higher. CNBC story They are now Dateline instead of a business show WHY?

Riot Blockchain plummets after CNBC investigation finds no evidence of an advertised shareholders meeting (RIOT)

And after all the attacks the SEC joined in and here is the outcome  THEY ARE CLEARED and the stock which was once $45 is now $2
That’s how Wall St works hurt the big boys and they call the cops to protect them  — so SEC sanctions defamation and tortious interference on a daily basis.

Article: GE CEO Slams Whistleblower Report As ‘Market Manipulation’

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GE CEO Slams Whistleblower Report As ‘Market Manipulation’

Rachel Sandler,  15 August 2019

In response to a whistleblower report claiming to have uncovered massive accounting irregularities at General Electric, CEO Larry Culp said the author of the report, who previously raised concerns about Bernie Madoff’s ponzi scheme years before it was brought down, is engaging in “market manipulation” and stands to gain by tanking GE shares.

Harry Markopolos claims in the 175-page report that GE is falsifying financial statements to cover up massive losses related to its long-term-care insurance unit and the company’s oil and gas business, adding that GE is using many of the same accounting practices Enron did. Continue reading “Article: GE CEO Slams Whistleblower Report As ‘Market Manipulation’”

Paper: Counterfeiting Stock

Paper

Counterfeiting Stock

Anna McParland

The Creation of Counterfeit Shares — There are a variety of names that the securities industry has dreamed up that are euphemisms for counterfeit shares. Don’t be fooled : Unless the short seller has actually borrowed a real share from the account of a long investor, the short sale is counterfeit. It doesn’t matter what you call it and it may become non–counterfeit if a share is later borrowed, but until then, there are more shares in the system than the company has sold.

The magnitude of the counterfeiting is hundreds of millions of shares every day, and it may be in the billions. The real answer is locked within the prime brokers and the DTC. Incidentally, counterfeiting of securities is as

It is estimated that 1000 small companies have been put out of business by the shorts.

PDF (12 Pages): Paper Counterfeiting Stock