January 30th, 2010 
Before You Invest Thomas Peterffy, CEO at Interactive Brokers Group, said a tax on financial transactions could cause volume on the stock market to drop 90%. “The mother of all creators of havoc on Wall Street is this looming transaction tax,” Peterffy said. “Trading volumes would plunge by about 90%, markets would become illiquid and tens of thousands of people would lose their jobs.”
Posted in Finance Fraud 
Tags: Amp, Apps, Ceo, Creators, Financial Transactions, Havoc, Insider, Interactive Brokers Group, Jobs, Pid, Plunge, Sid, Stock Market, Tens Of Thousands, Thomas Peterffy, Transaction Tax, Wall Street 
Comments Off January 16th, 2010 Before You Invest In his weekly radio and Internet address, President Barack Obama defended his proposal to subject as many as 50 financial institutions to a levy to recoup the cost of the Troubled Asset Relief Program. Obama also vowed to enact legislation that would rein in practices and strategies that caused the financial crisis.
Posted in Finance Fraud Tags: Amp, Apps, Banks, Barack Obama, Chris Van Hollen, Congress, Democratic Leaders, Financial Crisis, Financial Institutions, Internet Address, Legislation, Levy, Pid, Proposal, Radio, Sid, Taxpayers No Comments » December 16th, 2009 Before You Invest Wells Fargo priced nearly 490 million shares at $25 each to raise billions of dollars to repay the government for funds it received through the Troubled Asset Relief Program. The government still has Wells Fargo warrants, which are estimated to be worth roughly $723 million at auction, said Linus Wilson, an assistant finance professor at the University of Louisiana at Lafayette.
December 14th, 2009 Before You Invest Citigroup reached an agreement with regulators and government officials regarding a plan to repay the Treasury for the $20 billion it received through the Troubled Asset Relief program. “We are pleased to be able to repay the U.S. government’s trust preferred securities and to terminate the loss-sharing agreement,” Citi CEO Vikram Pandit said in a statement.
December 4th, 2009 Before You Invest Sen. Tom Harkin of Iowa and Rep. Peter DeFazio of Oregon led a group of congressional Democrats in proposing to tax large financial transactions. The Obama administration remains cool to the idea, and the financial industry has voiced opposition. “As we’ve said before, a transaction tax on nearly all securities is the wrong policy at the wrong time.
Posted in Finance Fraud Tags: Advocacy, Amp, Apps, Bentsen, Congressional Democrats, Economic Recovery, Executive Vice, Financial Transactions, Job Creation, News Release, Obama, Opposition, Peter Defazio, Pid, Public Policy, Rep Peter Defazio, Sifma, Tom Harkin, Transaction Tax, Wrong Time No Comments » November 25th, 2009 Before You Invest 
The emirate, home to the world’s tallest tower and the biggest man-made islands, sold the bonds equally to National Bank of Abu Dhabi PJSC and Islamic lender Al Hilal Bank, Dubai’s Department of Finance said in an e-mailed statement today. It will draw down $1 billion initially with a sale of bonds to NBAD and an Islamic bond, or sukuk, to Al Hilal.
Posted in Finance Fraud Tags: 1 Billion, Al Hilal Bank, Amp, Apps, Banks, Bloomberg, Bonds, Credit Crunch, Department Of Finance, Dubai, Economic Boom, Finance Industries, Man Made Islands, National Bank Of Abu Dhabi, Pid, Pjsc, Sid, Sukuk, Tallest Tower No Comments » November 25th, 2009 Before You Invest The committee of Lehman Brothers’ unsecured creditors requested that information be handed over from the U.K. Financial Services Authority and PricewaterhouseCoopers regarding Barclays and its acquisition of Lehman’s brokerage business in North America. Lehman’s creditors claim the deal resulted in a $5 billion discount for Barclays.
Posted in Finance Fraud Tags: Acquisition, Amp, Apps, Assets, Barclays, Barclays Takeover, Brokerage America, Brokerage Business, Financial Services Authority, Global Financial System, Last September, Lehman Brothers, Maximum Stress, North America, Pid, Pricewaterhousecoopers, Sid, Unsecured Creditors No Comments » November 17th, 2009 Before You Invest The estate of Lehman Brothers and a trustee for the bank’s brokerage filed a lawsuit against Barclays in an attempt to claw back as much as $10 billion. The U.S. bank claims the U.K. bank received billions of dollars in assets after the collapse of Lehman.
Posted in Finance Fraud Tags: Amp, Apps, Ase, Assets, Attempt, Barclays, Billions Of Dollars, Brokerage, Collapse, Lawyers, Lehman Brothers, Outset, Pid, Sid, Trustee, U S Bank, Windfall Profit No Comments » November 14th, 2009 Before You Invest Former President Bill Clinton repealed the Glass-Steagall Act, which split investment-banking activities from retail-banking operations, a decade ago. Congress is considering reinstating the measure, and financial firms are scrambling to prevent the change. “We’re playing with live ammo,” said Sam Geduldig, a lobbyist at Clark Lytle & Geduldig who represents financial-services companies.
November 9th, 2009 Before You Invest (Bloomberg) — Group of 20 governments split on whether to tax financial trading as part of a broader strategy to ensure the global economy’s expansion is less crisis-prone.
U.K. Prime Minister Gordon Brown told a meeting of finance chiefs in St. Andrews, Scotland yesterday that such a levy could prevent excessive risk taking and fund future bank rescues, adding momentum to a debate begun by France.
Posted in Finance Fraud Tags: Amp, Apps, Banking System, Excessive Risk, Finance Chiefs, Financial Crisis, Global Economy, Gordon Brown, Great Depression, Levy, Momentum, Pid, Prime Minister Gordon Brown, Risk Taking, Speculation, St Andrews Scotland, Timothy Geithner, Tobin Tax, Treasury Secretary, U S Treasury No Comments »
