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.
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 19th, 2009 Before You Invest Lawmakers are considering a House proposal that would impose a tax on stock trades and over-the-counter derivatives transactions. Key lawmakers, however, are not lending their support to such a tax, and many market participants are opposed. “Imposing a tax on financial transactions is the wrong idea at the wrong time,” said Ken Bentsen, executive vice president of public policy and advocacy at SIFMA. “It would directly and detrimentally affect millions of Americans by imposing a tax on their savings such as mutual funds, just as they are seeing their investment assets regain value.”
Posted in Finance Fraud Tags: Advocacy, Amp, Derivatives, Executive Vice, Financial Transactions, Investment Assets, Ken Bentsen, Lawmakers, Market Participants, Mutual Funds, Pid, Proposal, Public Policy, Sid, Sifma, Stock Trades, Transaction Tax, Vice President, Wrong Idea, Wrong Time 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.
October 27th, 2009 Before You Invest In a lengthy report to the Securities and Exchange Commission, Goldman Sachs Group defended high-frequency trading, dark pools, short-selling and other market strategies. “The investing community (especially retail) has benefited from the evolving market structure and industry competition,” Goldman said in the report. Lawmakers have criticized the practices and are looking into ways to increase their transparency.
Posted in Finance Fraud Tags: Amp, Apps, Dark Pools, Goldman Sachs, Goldman Sachs Group, High Frequency, Industry Competition, Lawmakers, Lengthy Report, Market Investing, Market Practices, Market Strategies, Market Structure, Pid, Sec, Securities And Exchange, Securities And Exchange Commission, Sid, Transparency No Comments » October 20th, 2009 Before You Invest Galleon Group’s analysts, portfolio managers and traders in New York are seeking legal advice and updating their resumes after the arrest of Raj Rajaratnam, the hedge-fund firm’s founder, led to a flood of redemption requests, people familiar with the matter said.
Redemption requests totaled $1.3 billion, the Wall Street Journal reported yesterday.
