Barclays Capital has been forced to layoff off its star commodity trading team because of Dodd-Frank legislation reports Patrick Jenkins at the Financial Times last night. Edgar became somewhat of a celebrity trader after my team at Trader Monthly discovered his talents for reading global macro trends and parlaying them into a killer gold trade […]
Continue10 Aug
UPDATE: JP Morgan is afraid of the RMBS Fraud Suits
JP Morgan is showing signs of fear. Yesterday, I updated Keiser Report viewers on the dirty tricks the bank’s lawyers and former Bear Stearns mortgage traders are pulling in an atempt to stop the truth coming out in the Bear Stearns/EMC fraud suit. A story I first began reporting a year ago at The Atlantic […]
Continue4 Aug
Now Playing in New Canaan: Hairy Penis
Elm Street in New Canaan, CT has been pranked this morning. In a location packed daily with wealthy housewives and their well dress kids in tow, now sits a movie sign inviting people to come see films with names like ‘Hairy Penis’. (You know instead of Harry Potter) It looks like some creative senior high […]
Continue26 Jul
FDIC Report Blames Fred DeCaro Jr. For USA Bank Failure
The watchdog that inspects what went wrong after the FDIC seizes a bank has found USA Bank failed because of its Chairman’s actions. Today I report at The Distressed Debt Report , Fred DeCaro Jr was named as violating multiple banking and lending laws that lead to last summer’s seizure of USA Bank. DeCaro and […]
Continue22 Jun
Will PWC kick Corey Ribotsky out of NIR Group master fund?
N.I.R. Group investors scored a big win in the Cayman Island’s civil court this month. Corey Ribotsky will now have to answer to a court appointed independent liquidator for the Master fund who says the first order of business is an investigation into how Ribotsky has been managing cash flow and investment valuations since the […]
Continue19 Jun
RBS Embezzler James Glover’s USA Bank loan Close to Default
The 20-year Greenwich Capital executive, James Glover, who pled guilty to an embezzlement scheme against Royal Bank of Scotland this month, is likely to see his ski resort real estate project blow up in smoke. An over built luxury ski mansion is allegedly the driving factor that pushed Glover to steal from RBS when he […]
Continue15 Jun
SEC Wakes Up to NIR Group’s role in toxic Norma CDO
The new and improved Securities and Exchange Commission has finally decided to investigate the role of collateral managers who helped banks like Merrill Lynch sell CDOs designed to fail. Their first target is a Long Island hedge fund manager, Corey Ribotsky of N.I.R. Group. Kara Scannell of the Financial Times was first to report on […]
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