The Manipulative, Little Known Billionaire Who Nearly Ruined The Country’s Richest Black Person
Christopher Helman, 05 February 2021
Ever since Ford Motor Company began selling its Model T in 1908, few pieces of technology have been as important to car dealer profit margins as the DocuPad.
The 45-by-29-inch flat screen sits atop a salesman’s desk, giving him the ability to quickly coax customers through what would normally be mountains of paperwork. By enabling car buyers to check boxes with a stylus and sign contracts on the interactive screen, the DocuPad takes the friction out of a car salesman’s stock in trade—the upsell. Continue reading “Article: The Manipulative, Little Known Billionaire Who Nearly Ruined The Country’s Richest Black Person”
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.”
Why Nano-X Imaging Stock Continues to Surge
Rich Smith, 02 December 2020
Shares of Nano-X Imaging (NASDAQ: NNOX), the Israeli X-ray machine maker with the novel business idea of giving its products away for free (and then taking a cut of the revenue when doctors use the machines to take X-rays), is back in investors’ favor again. Over the past 10 days, shares of Nano-X have surged 79% — including a big 7% jump today as of 2:20 p.m. EST.
Why is Nano-X doing so well today? To learn the answer, you first have to go back in time a couple of months to mid-September, when Citron Research published a report branding Nano-X as “Theranos 2.0” and a company that not only “has never published any data showing their machine’s images compared to images from a standard CT scanner,” but has actually never even showed investors that it has a machine at all.
These and similar accusations from the short-seller devastated Nano-X’s stock over the summer, but on Thursday starting at 11:30 a.m. EST, Nano-X will attempt to refute all of the above by hosting “a live demonstration that will showcase the Nanox digital x-ray source tube and a range of 2D and 3D imaging applications performed by the Nanox.ARC at the 2020 Radiology Society of North America Virtual Annual Meeting.”
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Gordon Smith became Co-President and Chief Operating Officer of JPMorgan Chase in 2018. He is also the CEO of Consumer & Community Banking. Smith joined Chase in 2007. He served first as CEO of Card and then of the Card, Merchant Services and Auto Finance businesses before taking over Consumer & Community Banking in 2012. Before joining Chase, he spent more than 25 years at American Express. From 2005 until 2007, he was President of the Global Commercial Card business. Smith holds a master’s degree from the Thunderbird School of Global Management.
Howard G. Smith is the founder of the Law Offices of Howard G. Smith. He graduated from the Western Michigan University Cooley Law School, J.D. in 1996. His practices areas are Securities Fraud Litigation, ERISA. His bar admissions are the Common Wealth of Pennsylvania as well as many other U.S. and State courts.
Law Offices of Howard G. Smith
Jeffrey G. Smith is a partner at Wolf Haldenstein. He graduated from Dutchess Community College (A. A. 1972), Vassar College (A.B. 1974), Princeton University (M.P.A. 1977), and Yale Law School (J.D. 1978). His practice areas include: Child Victims Act, U.S. Securities Litigation, Wage & Hour, Consumer Protection, and Civil Rights. His bar admissions are: States of New York and California, U.S. District Courts for the Southern and Eastern Districts of New York, Southern, Central and Northern Districts of California, District of Colorado, District of Nebraska, U.S. Courts of Appeals for the Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth and Ninth Circuits, United States Tax Court, and Supreme Court of the United States.
Wolf Haldenstein Adler Freeman & Herz LLP
U.S. Senator Tina Smith (D-MN) is a minority member of the US Senate Committee on Banking. She serves as United States Senator for Minnesota. She graduated from Stanford University and in 1984, earned an MBA from the Tuck School of Business at Dartmouth College. She’s served as Chief of Staff to both Minneapolis Mayor R.T. Rybak and Governor Mark Dayton. In 2014, Tina was elected to serve as Minnesota’s 48th Lieutenant Governor. Other Committee Assignments include: The Senate Committee on Health, Education, Labor, and Pensions, the Committee on Agriculture, Nutrition and Forestry, and the Senate Committee on Indian Affairs.
United States Senate Committee on Banking
Rick Smith, founded Axon Enterprise (formerly TASER International) in 1993. As the TASER device became ubiquitous in law enforcement, Smith pushed the company beyond weapons technology and toward a broader purpose of using hardware, software, and artificial intelligence to make the world a safer place. Smith graduated from Harvard with a BA in biology and later earned a master’s in international finance from the University of Leuven in Belgium and an MBA from the University of Chicago.
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Racketeering Law Makes Its Return to Wall Street
Peter J. Henning
The New York Times 24 October 2019
Prosecutors accused Michael Nowak, who was the head of precious metals trading at the bank, along with Gregg Smith and Christopher Jordan, of organizing the precious metals desk as a RICO enterprise to engage in “spoofing,” as well as wire and bank fraud in which JPMorgan and its customers were the victims
“Spoofing,” which was made a crime by the Dodd-Frank Act, happens when traders are “bidding or offering with the intent to cancel the bid or offer before execution.”
JPMorgan’s Metals Desk Was a Criminal Enterprise, U.S. Says
By Tom Schoenberg and David Voreacos
The head of the bank’s global precious metals desk, Michael Nowak, 45, and two others ripped off market participants and even clients as they illegally moved prices for gold, silver, platinum and palladium, the Justice Department said Monday. Nowak was placed on leave last month, a person familiar with the matter has said. The other traders charged were Gregg Smith, 55 and Christopher Jordan, 47.
JPMorgan traders indicted for market manipulation, racketeering: feds
FOX Business, 16 September 2020
Three JPMorgan employees, some of whom were executives, were indicted on charges related to making fake orders of gold, silver and other metals to trick the market, federal Department of Justice announced Monday.
Gregg Smith, 55, Michael Nowak, 45, and Christopher Jordan, 47 and other co-conspirators allegedly manipulated the market by placing orders that they later canceled, in turn deceiving other participants about the actual supply and demand of the precious metals between May 2008 and August 2016, while they worked for JPMorgan’s global precious metals trading desk, the DOJ said.
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Three J.P. Morgan precious metals traders charged as criminal probe continues
CNBC, 16 September 2019
Federal prosecutors on Monday accused three J.P. Morgan precious metals traders, including the global head of base and precious metals trading, of participating in a racketeering conspiracy in connection with a multiyear scheme to manipulate the markets and defraud customers.
The alleged scheme saw the nation’s largest bank by assets profit handsomely, while investors suffered losses.
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Part 10 of Illegal Naked Shorting Series: Legal Shorting of Stocks is a Loser’s Game but Illegal Naked Shorting Transforms It into a Winner’s Game
Smith On Stocks, 24 July 2019
When I launched my research on stock manipulation and the prominent role played by illegal naked shorting, I believed that I had a fair understanding of the subject and could knock out comprehensive research in just a few blogs. However, as I dug in I was taken aback at how complex and widespread this subject is. I think that a team of hundreds of experts with unlimited resources would have difficulty ferreting out all of the details on a scam that Wall Street has been perpetrating and perfecting for over 40 years.
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