• Lawyer Gets 20 Years in $700 Million Fraud – We’ve heard that Butner is lovely this time of year. [New York Times]
• Credit Swaps Investigated by U.S. Justice Department – We’re quite this is occurring at the behest of Maxine Waters because banning CDS is the only logical solution to solving this economic crisis. [Bloomberg]
• Goldman executives sold $700m of stock – If there’s anything that Maxine Waters loves hating on more than CDS it’s L to the B and Goldman Sachs. BON-US! BON-US! BON-US! [FT.com]
Related Posts
Scoping | 06.25.09
- Caleb Newquist
- June 25, 2009
The SEC Is Too Lax on CEO Health Disclosure – Because someone’s personal health is everybody’s business [Business Week]
Indicted Billionaire to Appear in Court in Texas – It’s showtime: “On Thursday, the 59-year-old Texas financier was expected to have a chance to formally declare in court he is innocent of charges his international banking and financial empire was really just a Ponzi scheme.” [DealBook/NYT]
Study Ties Madoff Losses to Charity’s Board Size – [DealBook/NYT]
Share this:
Scoping | 06.29.09
- Caleb Newquist
- June 29, 2009
State Street may face SEC charges over mortgages – “The Boston-based company said on Monday that Securities and Exchange Commission staff issued a ‘Wells’ notice to its banking unit on June 25 related to disclosures and management by State Street Global Advisors of “active” fixed-income strategies in 2007 and in prior periods.” [Reuters]
UBS Said to Seek U.S. Tax Deal in Weeks – “With a payment of 3 billion to 5 billion Swiss francs, UBS hopes in the next two weeks to settle a lawsuit over the tens of thousands of American clients suspected of tax evasion, the Swiss newspaper Sonntag reported. Analysts on Monday, however, questioned the figure.” [DealBook/NYT]
A Unified Bank Regulator Is a Good Start – Penned by rock star CEO, Jamie Dimon [WSJ]
Share this:
Scoping | 07.20.09
- Caleb Newquist
- July 20, 2009
• CIT Is Said to Obtain Urgent Loan to Prevent Bankruptcy – “Directors of the CIT Group, one of the nation’s leading lenders to small and midsize businesses, approved a deal Sunday evening with some of the bank’s major bondholders to help it avert a bankruptcy filing through a $3 billion emergency loan, according to people briefed on the matter.” Bullet dodged. [New York Times]
• Scam victims ‘easily persuaded’ – “The scams the OFT has been highlighting range from the so-called Nigerian or advance free frauds, to bogus lotteries, fake clairvoyants and health cures, bogus investments and crooked racing tipsters.” Nigerian emails do have a certain charming prose that is difficult to resist. [BBC]
• Sweden’s SEB bank posts 2Q loss – No doubt had some exposure to the Latvian souls brokers [AP via Miami Herald]
• Charles Schwab denies Cuomo’s fraud allegations – “Charles Schwab Corp, the largest U.S. online brokerage, denied allegations by New York Attorney General Andrew Cuomo of civil fraud in its marketing and sale of Auction Rate Securities (ARS).” Also, some less serious charges include running commercials with creepy half-human, half-cartoons moving and talking seriously about their depleted 401(k)s. [Reuters]
• Evidence shows there’s no such thing as ‘recession-proof’ jobs – Bankruptcy lawyers might be the lone exception. Good luck getting into that. [Chicago Tribune]