(See The SEC Is Allowing 5-Count Felon JPMorgan Chase to Trade Its Own Bank Stock in its Own Dark Pools.) The SEC is also currently turning a blind eye to a practice that screams illegal manipulation: it is allowing the serially-charged mega banks on Wall Street to trade their own bank’s stock in their own Dark Pools. More recently, the SEC was caught flat-footed when the family office hedge fund, Archegos Capital Management, blew up and the public learned for the first time that Wall Street banks have been disguising massive, highly-leveraged stock positions held by these hedge funds as belonging to the banks. economy and leaving millions of innocent Americans jobless and homeless. Those subprime bombs blew up in 2008, cratering the U.S. The SEC was also asleep at the switch while Wall Street banks concocted their subprime debt bombs, then bet billions of dollars that they would fail while selling them to public pension funds as good investments. Securities and Exchange Commission.” The SEC needs a lot of oversight because that’s the federal agency that didn’t catch Bernie Madoff for more than four decades, despite a financial expert, Harry Markopolos, sending the SEC detailed written reports (in 2000, 2001, 2005, 20), making the case that Madoff was running a Ponzi scheme. The Senate Banking Committee will hold a hearing today titled “Oversight of the U.S.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |