Plainfield’s general counsel, Thomas Fritsch, told a trade publication this week he thinks the Dodd-Frank Act is unfair because the fund can’t confront their anonymous accusers. You know-the ones that sent internal documents and taped conversations to the SEC in a whistleblower compliant last summer. (And everyone’s been writing about.) Well that’s odd because I […]
Continue24 Feb
SEC Takes Plainfield Asset Management Whistleblowers Suit Seriously
It looks like the Securities and Exchange Commission is taking the whistleblower complaint against Max Holmes and his hedge fund Plainfield Asset Management seriously. This month I detailed at The Distressed Debt Report specific evidence anonymous Plainfield staffers have turned over to regulators describing how Holmes has been allegedly overvaluing billions of the fund’s assets […]
Continue11 Feb
FDIC Silenced Whistleblower in IndyMac’s Executives Fraud Charges
IndyMac executives were individually charged for fraud by the Securities and Exchange Commission today but the FDIC has known about these problems since they took the bank over in July 2008. Mike Perry, CEO and Chairman of IndyMac Bank, was sued for securities fraud by the S.E.C for misleading investors about the capital and liquidity […]
Continue27 Jan
New Canaan Police Bully Journalist While Trying to Report Train Crash
Last night, in white-out conditions during the snow storm, and with slippery rail conditions, a train ran off the end of the rail at New Canaan. I saw the scene at 10:45 when I went to the Starbucks across the street from the station. I decided this could be a story to sell. I started […]
Continue25 Jan
Bear Stearns Nierenberg Doesn’t Think Cheating Emails are a Big Deal
That lawsuit JP Morgan really really didn’t want you to read has just been unsealed and now we see why they used their big bank status to muscle the courts and keep it out of the public eye. The suit shows Bear executives, who all made millions and got great jobs at other banks when […]
Continue23 Dec
WCP Colmunist Tkacik Should Be Able To Publish Assange Accusers Names
The Washington City Paper editors committed a cardinal sin today. They didn’t support their star columnist, Moe Tkacik, who they hired to write “attention-snagging icon-smashing features on culture and intellectual classes” when she published the names of the women who have accused WikiLeaks founder Julian Assange of rape. What’s worse is that Madden, the WCP […]
Continue26 Nov
Why Does JP Morgan Want This Fraud Suit Sealed?
JP Morgan is being sued by Ambac for allegedly selling the insurance company hundreds of millions of mortgage back securities while knowingly packing them full of loans they knew were bad. The loans stem from MBS created by Bear Stearns that JP Morgan took control of after they bought the failed bank in 2008. While […]
Continue26 Nov
Fed Up Financial Journalist Speaks Out
I’m an independent Wall Street investigative reporter who has written for multiple major media publications about the deals and players who drive our finance industry. This blog will attempt to shine a light on the pieces of a story that I think the reporter left out or were so important they needed a ‘pay attention […]
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