Timothy Franz Geithner is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama, from 2009 to 2013. He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration. Since March 2014, he has served as president and managing director of Warburg Pincus, a private equity firm headquartered in New York City. At the New York Fed, Geithner helped manage crises involving Bear Stearns, Lehman Brothers, and the American International Group. Geithner graduated from Dartmouth College (BA) and Johns Hopkins University (MA).
Valentina Ruiz Leotaud
Mining.com, 17 May 2020
The University of Sussex Business School released an analysis stating that widespread market turmoil caused by the covid-19 pandemic means regulators have so much on their plates right now that large-scale manipulation of the markets remains below their radar.
In the view of the researchers behind the study, this is the reason why prices of safe-haven assets such as gold and bitcoin are not surging.
Pascal Bandelier is the Senior Managing Director, Head of Equities. He joined the Cantor Fitzgerald based in New York. Bandelier was the Head of Equity Execution Trading at Barclays, where he was responsible for the trading, sales trading, desk analyst and low-touch electronic businesses during his tenure at Barclays since 2013. Prior to Barclays, Bandelier was Head of TMT Cash Equity Trading, at Morgan Stanley, and Head of Cash Equity Trading & Risk at Nomura. From 2001 to 2010, Mr. Bandelier worked at Barclays/Lehman Brothers. Bandelier graduated from Northwestern University with a Bachelor’s degree in economics.
Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the security or ensuring that the security can be borrowed, as is conventionally done in a short sale. When the seller does not obtain the shares within the required time frame, the result is known as a “failure to deliver” (“FTD”). The transaction generally remains open until the shares are acquired by the seller, or the seller’s broker settles the trade.
The Komisar Scoop, 26 March 2020
As stocks are in free fall, a scam run by the big banks/broker-dealers for the benefit of themselves and their hedge fund clients threatens to worsen the situation of large and small American companies and investors.
It’s when the bank/broker-dealers buy stocks, pocket the money and fail to deliver to clients the shares they are supposed to settle through the national stock clearing house. In another industry that might be called embezzling.
Investopedia, 25 June 2019
The basic form of short selling is selling stock that you borrow from an owner and do not own yourself. In essence, you deliver the borrowed shares. Another form is to sell stock that you do not own and are not borrowing from someone. Here you owe the shorted shares to the buyer but “fail to deliver.” This form is called naked short selling.
gary-weiss.com, 30 January 2018
It’s been a long time since the financial press has cast a skeptical eye on Overstock.com and its CEO, Patrick Byrne, Yet there are multiple reasons to do so. Five thousand to be exact. So I’ve dusted off my blog for an update on my favorite fraudulent stock.
As in all soap operas, its continuing story line is not new: Byrne wants the stock to go up. The stock has a history of manipulation, mainly through cooking the books, resulting in multiple restatements. But it takes an expert to sniff out accounting irregularities. All you need to detect the latest Overstock scam is a working pair of eyes and an Internet connection.
Accessed via Wayback, 31 January 2001 – 31 March 2014
Listed below are a large number of public information articles and reports detailing the brokerage houses, market makers and the conduct of the main “street” characters engaged in the illegal practice of “naked short selling”, “death-spiral financing”, “failure to delivers (FTDs)” and/or stock fraud. This page is a resource for anyone wishing to educate themselves regarding the depth and breath of these illegal activities. Please note that some of the articles may have been added out of time sequence because they were discovered weeks or months after publication. All the dates are, to the best of our knowledge, when they came into the public domain.
David S. Hilzenrath
Washington Post, 7 October 2011
Mary L. Schapiro took over a discredited SEC in early 2009 and vowed to rebuild it.
She promised tougher enforcement — “war without quarter” on financial fraud. Modernized rules to keep up with Wall Street. And a new, more effective organization.
Her tenure at the federal agency responsible for protecting investors and policing markets offers a Washington lesson: Even when epic crises create a sense of urgency, it is tough to tighten the reins on powerful industries. Dramatic results can prove elusive.