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The SEC says the Vampire Squid created and sold securities designed to fail, which were then shorted. “Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third [...] As predicted, the Galleon insider trading case is metastasizing, spreading everywhere. My prediction. This will be bigger than Madoff, maybe even bigger than Enron. If Galleon’s bankers were giving the firm extra info on other bank clients, then that sounds like frontrunning, a serious violation, and a serious reason not to have those banks as [...] Martha Stewart did five months for $44,000. That standard needs to be enforced now for everyone. During the collapse of AIG, their credit default swap unit was negotiating with banks who had bought $62 billion in CDS and CDOs from them. AIG wanted the banks to accept discounts of up to 40%. Instead, the [...] Babylon’s burning, baby / Can’t you see? / Babylon’s burning / With anxiety Quadrum Capital Management got subpoenaed as part of the Galleon insider trading investigation – and was immediately shut down by its head, Richard Grodin. Further, there are long-lasting ties between Quantum and SAC Capital Advisors, which is headed by very big [...] He’s Tamil, from Sri Lanka. and gave the Tamil Rehabilitation Organization $3.5 million. Their assets were frozen in the US in Nov 2007 by Treasury after being judged a link to the Tamil Tigers. The Feds apparently used techniques against him they typically use against organized crime and drug cartels, and this has [...] |  | ||||
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