A securities arbitration panel has ordered Goldman Sachs Execution & Clearing LP and Spear Leeds & Kellogg LP to pay nearly $21 million to unsecured creditors of the Bayou Group LLC, according to an award. The Official Unsecured Creditors’ Committee of Bayou Group LLC filed the case against the two units of Goldman Sachs Group Inc.
Posts Tagged ‘Goldman Sachs Group’
FINRA Panel Awards $21 Million to Bayou Creditors
June 26th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Arbitration Panel, Bayou Hedge Funds, Chief Executive, Damages, Execution, Failure, Financial Industry Regulatory Authority, Fraud, Fraudulent Transfers, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Lawyer, Leeds, Panel Awards, Sachs Group Inc, Securities Arbitration, Spear Leeds Kellogg, Spokesman, Unsecured Creditors 
Comments OffCorzine Slashing Staff at MF Global Amid Losses
May 20th, 2010 Before You Invest By ReutersURL: http://www.wallstreetandtech.com/showArticle.jhtml?articleID=224900505* Workforce to be cut 10-15 percent* Adj Q4 loss 17 cents/share vs Street view profit 1 cent* Q4 net revenue $240.5 mln vs year-ago $257.1 mln* Shares up 1 pct in morning tradingNEW YORK – Jon Corzine, the new chief executive of MF Global Holdings Ltd , said the futures and options broker would cut its workforce by up to 15 percent as it looks to stem five straight quarters of losses.Corzine’s cost-cutting goal came as MF Global reported quarterly results that fell small of analysts’ expectations.
Posted in Finance Fraud Tags: Decisive Action, Futures And Options, Global Holdings, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Jersey Governor, Jon Corzine, Mf Global, Mln Shares, New York Stock, New York Stock Exchange, Options Broker, Quarterly Results, Regulatory Reform Efforts, Sachs Group Inc, Straight Quarters, Street View, Ticonderoga, York Stock Exchange Comments OffWaddell is mystery trader in market plunge
May 15th, 2010 Before You Invest (Reuters) – A huge mystery seller of futures contracts during the market meltdown last week was not a hedge fund or a high frequency trader as many have suspected, but money manager Waddell & Reed Financial Inc, according to a document obtained by Reuters.Waddell sold on May 6 a large order of e-mini contracts during a 20-minute span in which U.S.
Posted in Finance Fraud Tags: Anomalous Activity, Chicago Mercantile Exchange, Commodity Futures Trading, Commodity Futures Trading Commission, Directional Indicator, Futures Contracts, Futures Trading Commission, Gary Gensler, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Interactive Brokers Group, Interactive Brokers Group Inc, Jpmorgan Chase, Market Meltdown, Market Plunge, Minute Span, Reed Financial Inc, Sachs Group Inc, Waddell Reed Comments OffProbe of US Banks Continues
May 13th, 2010 Before You Invest U.S. authorities are expanding their probes of past mortgage securities deals, with New York’s attorney general opening an investigation into whether eight banks misled rating agencies, a source familiar with the matter said.New York Attorney General Andrew Cuomo’s office on Wednesday served subpoenas on four U.S.
Posted in Finance Fraud Tags: Attorney General Andrew Cuomo, Bank Of America, Credit Agricole, Credit Suisse, Criminal Probe, Federal Prosecutors, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Merrill Lynch, Morgan Stanley, Mortgage Bond, Mortgage Securities, New York Attorney General, New York Attorney General Andrew Cuomo, Sachs Group Inc, Subpoenas, Subprime Mortgage Meltdown, Wall Street Journal, York Attorney General Andrew Cuomo Comments OffU.S. stock plunge raises alarm on algo trading
May 7th, 2010 Before You Invest (Reuters) – A spine-chilling slide of nearly 1,000 points in the Dow Jones Industrial Average, its largest intraday points drop ever, led to heightened calls for a crackdown on computer-driven high-frequency trading. The slide, which in one 10-minute stretch knocked the index down nearly 700 points, may have been triggered by a trading error.
Posted in Finance Fraud Tags: Civil Fraud, Dow Jones Industrial, Dow Jones Industrial Average, Edward Kaufman, Equity Values, Fraud Allegations, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Gs News, Major Stock Indexes, Market Chaos, Minute Stretch, Paul Kanjorski, Sachs Group Inc, Securities And Exchange Commission, Senator Edward, Sophisticated Computer, Speed Computers, Stock Plunge Comments OffGoldman Sachs CDO Labeled ‘Shi**y Deal’ by Montag in E-Mail
April 27th, 2010 Before You Invest (Bloomberg) — Thomas Montag, the former head of sales and trading in the Americas at Goldman Sachs Group Inc., called a set of mortgage-linked investments sold by his firm “one shi**y deal,” according to an excerpt from internal e-mails released by Senate lawmakers.The transaction was Timberwolf Ltd., a $1 billion collateralized debt obligation holding pieces of other CDOs, according to a statement from the Permanent Subcommittee on Investigations.
Posted in Finance Fraud Tags: Bank Of America, Bank Of America Corp, Carl Levin, Cdos, Collateralized Debt Obligation, E Mail, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Lloyd Blankfein, Michigan Democrat, Mortgage Business, Mortgage Securities, Optimistic Side, Permanent Subcommittee On Investigations, Pessimistic Side, Sachs Group Inc, Senate Lawmakers, Side Bets, Timberwolf Comments OffGoldman Sachs CDO Labeled ‘Shi**y Deal’ by Montag in E-Mail
April 27th, 2010 Before You Invest (Bloomberg) — Thomas Montag, the former head of sales and trading in the Americas at Goldman Sachs Group Inc., called a set of mortgage-linked investments sold by his firm “one shi**y deal,” according to an excerpt from internal e-mails released by Senate lawmakers.The transaction was Timberwolf Ltd., a $1 billion collateralized debt obligation holding pieces of other CDOs, according to a statement from the Permanent Subcommittee on Investigations.
Posted in Finance Fraud Tags: Bank Of America, Bank Of America Corp, Carl Levin, Cdos, Collateralized Debt Obligation, E Mail, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Lloyd Blankfein, Michigan Democrat, Mortgage Business, Mortgage Securities, Optimistic Side, Permanent Subcommittee On Investigations, Pessimistic Side, Sachs Group Inc, Senate Lawmakers, Side Bets, Timberwolf Comments OffBlankfein E-Mail Shows Firm Profited Betting Against Mortgages
April 24th, 2010 Before You Invest (Bloomberg) — Goldman Sachs Group Inc. Chairman and Chief Executive Officer Lloyd Blankfein told colleagues in an e-mail that the firm made money by shorting, or betting against, mortgages, according to documents obtained and released today by a U.S. Senate subcommittee.“Of course we didn’t dodge the mortgage mess,” Blankfein, 55, wrote in an e-mail dated Nov.
Posted in Finance Fraud Tags: Business Practices, Carl Levin, Cdo, Chief Executive Officer, Collateralized Debt Obligations, Democrat Carl Levin, E Mail, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Lloyd Blankfein, Michigan Democrat, Permanent Subcommittee On Investigations, Sachs Group Inc, Scrutiny, Securities And Exchange Commission, Securities Firm, Senate Subcommittee, U S Senate, Wall Street History Comments OffTourre Takes Time Off From Goldman
April 20th, 2010 Before You Invest Fabrice Tourre, the Goldman Sachs Group Inc. employee at the center of the U.S. government lawsuit alleging securities fraud, has chose to take some personal time off and hasn’t said when he will return to work, according to a person familiar with the matter.Goldman spokesman Lucas van Praag confirmed in an email that Mr.
Posted in Finance Fraud Tags: Allegations, Controversy, Executive Director, Fabrice, Frenchman, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Government Lawsuit, Hasn, Housing Market, London Office, Paycheck, Personal Time, Sachs Group Inc, Securities And Exchange, Securities And Exchange Commission, Securities Fraud, Spokesman, Van Praag Comments OffGoldman Sachs’s ‘Fabulous Fab’ Tourre Loses ‘Survivor’ Bet
April 17th, 2010 Before You Invest (Bloomberg) — Goldman Sachs Group Inc.’s “Fabulous Fab” saw himself as the “only potential survivor” when the housing market started to collapse in 2007. Instead he became the only person named when regulators sued the firm for fraud.Fabrice Pierre Tourre, the 31-year-ancient French trader accused by the U.S.
Posted in Finance Fraud Tags: Abacus, Cdos, Collateralized Debt Obligation, E Mail, Fab, French Trader, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Housing Market, Misleading Investors, Mortgage Bonds, Mortgage Securities, Paulson, Sachs Group Inc, Securities And Exchange Commission, Selling Securities, Structured Product, Wreckage, Wrongdoing Comments Off
