Wall Street Folly

SEC case seems to be unraveling by the day as Paulson deputy said to have told ACA they were going short, and ACA’s own portfolio suggestions actually made the deal worse, not better; Goldman’s Gary Cohn said to be attending Obama’s Wall Street speech; Blankfein comes out swinging; Tourre to testify next week (unless he pulls out); Obama says Whitehouse didn’t discuss Goldman with the SEC; Obama’s keeping his Goldman campaign contributions

Posted by WSF On April - 22 - 2010
  • Questions Raised About Evidence on Goldman
  • SEC vs Goldman Sachs
  • Goldman exec Cohn to attend Obama speech-source
  • Blankfein attacks ‘political’ SEC case
  • Tourre Expected Before Senate Panel
  • Obama Says SEC, White House Didn’t Discuss Goldman
  • Along with SEC, other investigators and suits may target Goldman Sachs
  • Obama Doesn’t Intend to Give Back Goldman Campaign Donations Read the rest of this entry »

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WSF

Paulson reassured his investors that his CDO deal was ‘appropriate’; Rep Issa smells politics in the timing of the SEC’s Goldman charges; Blankfein going to DC next week; Goldman comes out swinging with their defense; Tourre now on leave, is deregistered in UK; Goldman’s made political donations to both parties; Goldman’s share buyback; SEC is defending ’sophisticated investors’ with this suit

Posted by WSF On April - 21 - 2010
  • Paulson & Co tells investors it was ‘open’
  • Paulson & Co. Says Its Role in Goldman CDO Was ‘Appropriate’
  • Suspecting politics in Goldman Sachs charges, Rep. Issa asks SEC for information
  • It’s Lloyd’s of Washington next week
  • Goldman takes aggressive line on fraud claims after bumper profits
  • Goldman mounts defense on SEC charges, saying clients knew its products well
  • Goldman Sachs Says SEC Case Hinges on Actions of One Employee
  • Bank Says Losses Prove No Ill Intent
  • Goldman Sachs Donations Loom Over Republicans, Democrats Alike Read the rest of this entry »

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WSF

Goldman’s earnings beat; Employees rally around Lloyd Blankfein, senior management; Deal said to have been ok’d by senior execs; FSA to probe Goldman; SEC’s vote was partisan at 3-2, split leads to questions about how strong case is; More timing questions; AIG looking for an angle to recoup cash; Dodd says Goldman “shenanigans’ would be barred in reform bill; Politician returning Goldman campaign contribution; John Paulson hedges his bets by giving to Dems, Republicans

Posted by WSF On April - 20 - 2010
  • Goldman Tops Forecast, With $3.46 Billion in Earnings
  • Goldman Employees Rally Around Blankfein
  • What the Committee Knew
  • Goldman’s London Units Face Formal U.K. FSA Probe
  • Financial News: FSA Goldman Probe May Spark Intl Crackdown
  • Goldman Sachs CDO Lawsuit Split SEC Commissioners in 3-2 Vote
  • The SEC’s Impeccable Timing
  • AIG eyes action on Goldman over CDOs
  • Goldman ‘Shenanigans’ to Be Barred by Bill, Dodd Says
  • Kirk to Return Goldman Donations in Illinois Campaign Read the rest of this entry »

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WSF

SEC case against Goldman smoking gun or water pistol? (and gee isn’t the timing interesting?); If there is a case, were top Goldman guys involved not just Fab?; Fab’s email is key to SEC case (and so were the Bear Stearns hedge fund guys emails, and look where that got the SEC); A look at the word “Selected”; Goldman may face UK, German inquiries; UK’s Brown complains of “moral bankruptcy” of investment banking firms; Chris Whalen thinks that John Paulson could get dragged into the litigation

Posted by WSF On April - 19 - 2010
  • The SEC vs. Goldman
  • SEC faces fight to produce an open-and-shut court case
  • SEC Probes Other Soured Deals
  • Paulson May Face Litigation Following Goldman Suit, Whalen Says
  • Top Goldman Leaders Said to Have Overseen Mortgage Unit
  • Fabrice Tourre email is key to SEC’s evidence
  • Goldman Sachs SEC Case May Hinge on Meaning of Word ‘Selected’
  • Goldman May Face U.K., German Inquiries After Suit
  • Brown Says He Wants Special Investigation of Goldman Sachs
  • Goldman attacked by UK premier Read the rest of this entry »

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WSF

Lehman Whistle-blower was booted after raising red flags; TARP fraud charges for former Park Avenue Bank head; Hedge funds could see big inflows this year; Former Merrill trader gets banned for position mismarks

Posted by WSF On March - 16 - 2010
  • Lehman Whistle-Blower’s Fate: Fired
  • Lehman Might Put All Bankruptcy Creditors in Same Payment Pool
  • Former chief of Park Avenue Bank charged with TARP fraud
  • Hedge Funds May Get $222 Billion Inflows in 2010, Survey Says
  • Ex-Merrill Trader Is Banned for Mismarking Positions Read the rest of this entry »

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Bankruptcy, Hedge funds

Bernie Madoff: SEC Chairman Mary Schapiro’s statement on the Inspector General’s report on how the SEC fucked up

Posted by WSF On September - 3 - 2009

Read the rest of this entry »

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WSF

Bernie Madoff: The inspector general’s executive summary on the SEC’s incompetence

Posted by WSF On September - 3 - 2009

Read the rest of this entry »

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Bernie Madoff, SEC, WSF

SEC charges Sky Capital CEO Ross Mandell and 5 others in multi million dollar boiler room scheme

Posted by WSF On July - 8 - 2009

Here’s the press release detailing the SEC boiler room charges against Sky Capital CEO Ross Mandell, COO Stephen Shea and four registered reps: Read the rest of this entry »

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FBI, SEC, WSF

FBI takedown: Six people arrested in a 10 year $100 million fraud

Posted by WSF On July - 8 - 2009

Two and a half years after the FBI paid Sky Capital’s offices a visit , six connected to the firm have been arrested in what Bloomberg describes as a 10 year $100 million fraud.  It’s not clear whether the first visit was related to the current charges.

Details so far are sketchy.  We wonder if the SEC was also involved, or if this is another case where they slept as another agency did their work.

Update: Looks like the SEC was involved and that it was connected to the FBI raid in 2006: Read the rest of this entry »

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FBI, SEC, WSF

Cartoon: Ruth Madoff subway spoof

Posted by WSF On June - 26 - 2009

After yesterday’s sighting of Ruth Madoff going downscale, riding the subway:  Sean Delonas’ cartoon from Page Six in today’s NY Post

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Bernie Madoff, Legal, Scandal, WSF

99 pennies for her thoughts: Ruth Madoff goes underground…on the subway!

Posted by WSF On June - 25 - 2009

The indignity!  Even when she goes underground, she can’t escape the prying lenses of the press: Ruth Madoff is photographed by the NY Post using a mode of transportation that she probably hasn’t taken in a forever: the SUBWAY! And the irony is that she’s captured sitting beneath a 99¢ sign.  Too funny. Read the rest of this entry »

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Bernie Madoff, Legal, Scandal, WSF

Bernie’s day of reckoning is drawing near and his victims understandably want to make him squirm; 113 of them file statements witht court

Posted by WSF On June - 15 - 2009

Bernie Madoff’s June 29 day of reckoning is fast approaching where the Ponzi scammer will be sentenced.  And 113 of his victims have written to the judge to tell him just how their lives have been shattered…. Read the rest of this entry »

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Bernie Madoff, Legal, Scandal, WSF

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