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?
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.
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.