Tag Archives: Wall Street

Barclays: Impeachment Wouldn’t Crash Markets

The Hill reports: President Trump’s removal from office, either by impeachment or electoral means, would not endanger America’s economy or trend of economic growth, financial analysts at Barclays said Thursday. In a post on LinkedIn published Wednesday, the firm’s head of investment strategy in London wrote that economic growth has “little” to do with actions taken by or affecting the …

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Lawyer For Pharma Douche Sentenced To 18 Months

Courthouse News reports: “I will regret every day of my life the day I met Martin Shkreli.” Evan Greebel, the former lawyer for “Pharma Bro” Shkreli, briefly addressed the court for the first time during his sentencing Friday for wire and securities fraud conspiracy. U.S. District Judge Kiyo Matsumoto sentenced Greebel to 18 months in prison and over $10 million …

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Bombshell Forbes Report Claims Commerce Secretary Wilbur Ross Has “Grifted” $120M From His Associates

Forbes Magazine reports: Over several months, in speaking with 21 people who know Ross, Forbes uncovered a pattern: Many of those who worked directly with him claim that Ross wrongly siphoned or outright stole a few million here and a few million there, huge amounts for most but not necessarily for the commerce secretary. At least if you consider them …

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NEW YORK CITY: Baptist Pastor Convicted In Massive Insider Trading Hacking Scheme, Faces 20 Yr Sentence

Reuters reports: A federal jury in Brooklyn, New York today convicted two men for their roles in an international scheme to make millions of dollars by illegally trading on corporate press releases that were stolen by computer hackers before they became public. Vitaly Korchevsky, a Pennsylvania pastor and former Morgan Stanley (MS.N) vice president, and co-defendant Vladislav Khalupsky were each …

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Pharma Douche Begs Court For Only 18 Month Sentence

Reuters reports: Martin Shkreli, the former drug company executive convicted of defrauding investors in two hedge funds he ran, has asked a federal judge to sentence him to 12 months to 18 months in prison, much less than suggested federal guidelines. Shkreli, 34, has been in jail since September, when U.S. District Judge Kiyo Matsumoto revoked his bail after he …

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Wall Street Ponders Nuclear War

The Wall Street Journal reports: Here’s a question that’s probably not on the CFA exam: What happens to financial markets if two nuclear-armed nations go to war? After a week of escalating tensions between the U.S. and North Korea, some financial analysts are now taking a stab at it. Strategists at Nordea Markets estimate that in the unlikely event of …

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Mnuchin Flip-Flops On Breaking Up Big Banks, Elizabeth Warren Rants “This Is Straight Out Of Orwell” [VIDEO]

Bloomberg reports: Treasury Secretary Steven Mnuchin said breaking up the biggest banks would be a “huge mistake,” easing concerns that the Trump administration plans a major revamp of Wall Street. “We do not support a separation of banks and investment banks,” Mnuchin said Thursday at a Senate Banking Committee hearing, just weeks after President Donald Trump said his administration was …

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Elizabeth Warren Expresses Dismay Over Obama’s $400K Wall Street Speech: I Was Troubled By That

The HuffPost reports: Sen. Elizabeth Warren (D-Mass.) voiced her concerns over President Barack Obama’s plans to accept $400,000 for giving a speech to Cantor Fitzgerald LP, saying money in politics is “a snake that slithers through Washington.” The senator appeared on Sirius XM’s “Alter Family Politics” program to promote her new book, “This Fight Is Our Fight,” and she was …

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Trump Signs Order Backing Rollback Of Wall Street Reforms Meant To Prevent Another Banking Meltdown

So this just happened. Reuters reports: U.S. President Donald Trump on Friday will scale back major regulations that resulted from the financial crisis, directing a review of the Dodd-Frank Act and putting the brakes on a retirement advice rule. The executive order Trump will sign on the 2010 Dodd-Frank law on Wall Street reform will be largely symbolic towards rolling …

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New App Alerts Stockholders To Trump’s Tweets

From the makers of the smartphone app Trigger: We are excited to announce the release of our latest trigger type: Trump Triggers! This trigger gives you the ability to trade stocks based off of Trump’s tweets about public companies. This one-of-a-kind trigger notifies you when President-Elect Trump tweets about a publicly traded stock that you own in real time. These …

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Trump Taps Goldman Sachs Advisor To Head SEC

Swampity swamp swamp. The New York Times reports: President-elect Donald J. Trump said on Wednesday that he planned to nominate Jay Clayton, a partner with the prominent New York law firm Sullivan & Cromwell, to lead the Securities and Exchange Commission, the latest appointment with strong ties to Wall Street. If confirmed, Mr. Clayton will be responsible for “encouraging investment …

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SWAMPY SWAMP SWAMP: Trump Names Goldman Sachs Bankster Steve Mnuchin As Treasury Secretary

The Wall Street Journal reports: President-elect Donald Trump will name longtime banker and former Goldman Sachs executive Steven Mnuchin as Treasury secretary, turning to a campaign loyalist and fundraiser for the incoming administration’s top economic cabinet post, a transition official said Tuesday. Mr. Mnuchin built his career sniffing out undervalued assets and converting them into massive profits. But perhaps his …

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Pharma Douche: Punch Me In The Face For Charity

ABC News reports: A Florida woman paid for the right to punch infamous pharmaceutical CEO Martin Shkreli in the face. Shkreli announced Wednesday on Twitter that a woman named Katie from Florida won the bid and has agreed to donate $50,000. Shkreli will match her bid. Shkreli was once called the “most hated man in America” after imposing a massive …

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Wall Street Bails On “Shit Show” GOP Convention Over Fears Of Being Associated With Donald Trump

Wow. Politico reports: Wall Street executives are hitting the sell button on the GOP convention in Cleveland next week. Bankers typically use the quadrennial Republican Party gathering to schmooze clients, host parties and flaunt their connections to the nominee and other senior officials. In 2012, they flooded the Tampa Bay area to celebrate one of the industry’s favorite sons, Mitt …

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New Charges For Pharma Douche Martin Shkreli

From the Associated Press: Federal prosecutors in New York have filed additional criminal charges against a pharmaceutical executive who separately was heavily criticized for raising the price of a lifesaving malaria medication. A new indictment filed Friday in Brooklyn says Martin Shkreli and his former attorney Evan Greebel schemed to defraud potential investors of his former drug company Retrophin Inc., …

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Pharma Douche Fired From Second Company

NBC News reports: Martin Shkreli, the embattled health care businessman, has been let go by KaloBios Pharmaceuticals — one of the companies he had headed. KaloBios, which has a market cap of less than $100 million, hasn’t traded since last Thursday. It was halted about 10 minutes after news of Shkreli’s arrest. The company said the alleged fraudster was “terminated” …

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G Is For Google, A Is For Alphabet – Google’s New Parent

Huge news from the tech world today. Via TechCrunch: Google just rocked the world with some light news on a Monday. It has restructured the company and everything will now report up to “Alphabet” a new corporate name. That includes Google, which will now be CEO’d by Sundar Pichai (one less Twitter candidate?). Its site? https://abc.xyz/. The CEO of Alphabet …

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Wall Street To SCOTUS: Yes On Marriage

Via CNN: Wall Street’s leading banks have signed a “friend of the court” brief pressing the Supreme Court to back same-sex marriage. Major financial firms including AIG, Bank of America, BlackRock, Credit Suisse, Deutsche Bank, Goldman Sachs JPMorgan, UBS and Wells Fargo signed the brief that will be filed on Thursday. Spokespeople at each of the companies confirmed to CNN …

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Eric Cantor Joins Investment Bank

Former GOP House Majority Leader Eric Cantor, who suffered a stunning primary defeat this summer at the hands of an unknown Tea Party candidate, has joined Wall Street. And the teabaggers are screaming, “Told you so.” Kevin Broughton, communications director of the Tea Party Patriots Citizens Fund, said, “many analysts accused Eric Cantor of paying more attention to Wall Street …

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NEW YORK CITY: Activists Demand “Robin Hood Tax” On Financial Institutions

Yesterday about a thousand activists marched on the United Nations, demanding the creation of a so-called “Robin Hood Tax” on Wall Street and financial institutions around the world. Forbes posted a press release: To commemorate the 2nd Anniversary of Occupy Wall Street, the Robin Hood tax coalition that consists of two hundred million supporters around the world including Occupy Wall …

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