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Who’s to Blame?

Companies don’t commit fraud, people do

One question still puzzling Wall Street pundits is why no high-level US bankers have been charged with criminal fraud in connection with the packaging and sale of sub-prime mortgage-backed securities that collapsed during the financial crisis?

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Targeting Private Equity

Are 2 & 20 just not enough?

Are private equity types any different from hedge funders?

The SEC apparently doesn’t think so and, after excoriating the latter for flagrant securities law violations, the regulators are now training their sights on the former.

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Struggle for the Soul of Wall Street

Not just “can we do this”, but “should we?”

Sir Hector Sants’ sudden leave of absence from Barclays Bank last month epitomizes the intense ethical struggle now engulfing the financial industry.

Sants, 57, was brought in earlier this year by CEO Antony Jenkins to help reform a bank that has featured in virtually every financial scandal of the past several years. 

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‘Cristina’s World’

Argentine President Fernández prays for a just result

She just lost her appeal in the US courts, but Cristina Fernández, President of Argentina, is as determined as her adversary, billionaire hedge funder Paul Singer, to have the last word.

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Stevie Cohen’s Big Bad Bet

Risks his $15 billion hedge fund to avoid a huge loss

They were SAC Capital’s largest equity positions when Stevie Cohen sold $700 million and shorted $260 million of Elan and Wyeth stock in July 2008, just before the two pharmaceutical companies announced disappointing results in the Phase II clinical trial of bapineuzumab, their jointly-developed Alzheimer’s drug.

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How to Avoid Getting Fleeced

Con artists excel at exploiting your financial ‘Achilles’ heel’

Bernie Madoff’s fraud victims included Steven Spielberg, a $16 billion fund of funds (Fairfield Greenwich Group) and the largest bank in Europe (Banco Santander).  Madoff also fleeced corporate moguls, politicians, attorneys, accountants, securities dealers, insurance companies, universities, foundations, country clubs and as many as 8,000 ordinary folks just like you.