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Citadel Receives Subpoena
Putting a cheery on top of one of the best days in capital markets history, FOX Business Network’s Charlie Gasparino is reporting that Citadel Investment Group, the giant hedge fund run by Ken Griffin, has received a subpoena from the Department of Justice. It is unclear if the Chicago's fund long-rumored 'dark pool' dealings with Brian Sack's Open Market Group will be exposed as a result. From Charlie: “They got a subpoena. It’s the same subpoena that sources tell FOX Business Network that Steve Cohen over at SAC Capital got. It’s a wide ranging subpoena and it dates back to 2008 asking for information on certain stocks. From what I understand, it’s not just healthcare stocks, which has been a primary focus. FOX Business Network has learned two other hedge funds have received subpoenas. We have put calls into Millennium Capital Management and Maverick Capital Management and we are waiting to hear back to them.”
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Redemption is not possible at this time.
I don't see any horses.
Sweet!
The hits keep on coming.
Once you have it on the canvas, don't let the fucker breath again or it will just get back up and chew your head off.
Once you have it on the canvas, fourfold it and send the fourths to the far corners of the world.
"Once you have them on the legal canvas... fine them 0.1% of profits, slap some wrists, no addmission of guilt and your work is done."
Eric "Empty Suit" Holder
Your method did not work for JFK against the CIA. As a matter of fact it had the opposite effect. Whose side you on?
exactly...beat them til the bat shatters...
like the stole something (which they have...)
like a drum...
like a fucking dusty rug...
fuck Wall St. and bankers to boot...let's get busy
batter-up
exactly...beat them til the bat shatters...
like they stole something (which they have...)
like a drum...
like a fucking dusty rug...
fuck Wall St. and bankers to boot...let's get busy
sorry for the ditto
So with all of this negative news, don't you think the market should have really, I mean really, been down?? Seems odd that a -1.3% pullback wasn't a 4-5% pullback?
Now we get what the futures and f/x markets are considering "good" news AH concerning Ireland. So keeping in mind a rather shallow pull back on the worst market news day in a while and Ireland getting resolution and the Korean showdown moving off the front page, aren't we setting up for a big rally into the holiday?
Regrettably, we're so far down this rabbit hole, I'll have to agree with you.
BooYah up 1 on Es_F .
Employers took 1,651 mass layoff actions in October that resulted in the separation of 148,059 workers
http://www.bls.gov/news.release/mmls.htm
Meanwhile it's dawn in Incheon
employers laying off people all the time. This is a capitalism country!
Remember:
RECESSION IS OVER LONG AGO
ECONOMIC IS GROWING AT 2.5% PACE. Not too high not too low. RIght on target
FED is easing, it is called QE2 just in case you havn't heard about it
More americans choose to retire early than any given time in history!
More young americans choose to go to graduate schools than any other time in history!
Health care cost from the new law is easing
Even movie tickets are sold out 3 days in a row!
Wake up and be positive, if you want to be more american, than be bullish. DOn't just short and hope the market to go lower. It is not going to happen. Don't fight the fed and goldman sucks!
And the hits just keep on coming....rocking and rolling with the systemically fraudulent banking system....coast to coast....
http://www.foxbusiness.com/markets/2010/11/23/fdic-opens-nearly-civil-cases-bank-officers-staff/
Waiting for Santa, are you Harry? Keep that crack pipe lit and inhale deeply. You may very well get a lump of coal. I hope you are all in. Keep buying off that key level you love so much at 1175 and please don't use stop losses so we can all help you with your pain. :)
The phoenix demon that is everyone's collective ignorance used by the Wankers to try to get you to take back your our responsibility will ebb, only to resurge for each person in measure to how they have taken back the darkness as their own. Be Balanced!
:) LeBalance!
"Jump you Fuckers!"
I hope they all drag the big fish down with them...we ALL know that's where this path needs to go.
Holder Do Something?
I'll go Buddy Holly here:
"That will be the day-ay-ay when I die."
Starting to sound like a bunch of trees in an ice storm CD...
Great...Now all we need is:
JPM, GS, C, MS, HSBC, and the lot of em.
This is getting uncomfortably close to 33 Liberty Street New York, NY...
yeah, it is, but, come on...let's face it, these are peasants banging at the gate....
what are the chances that anything comes of all of this? Not a lot.....the banks run the country and own the government, and that includes law enforcement up to and including the supreme court.
in other words, enjoy the show, cause, dude, that's all it is....a show to try and restore some credibility to the stock market so the peasants come back and hold the bag as they take it down from mount olympus.....
no one big or important is going to jail, no serious firms are going to be put out of business.....not a one.
mark my words.
i mean, jesus christ....look at the blatant manipulation in the silver market ....and has anyone at JPM even been slightly disconcerted by the CTFC?
Ah, no.......and will they be?
Ah no....they wili get notice probably a week before we peasants of any impending changes like position limits.....
and to be sure, the CTFC will make absolutely sure that no matter what happens, JPM walks away from the mess they have created in that particular market with a very nice, if not gargantuan, profit.
the key is to understand what's really going on. ....and what is going on is not an attempt to end any fraud or clean up any market...nope...not at all...
the point is...the stock market, the metals markets are now at insane levels, and the peasants are largely out of both and JPM/GS are largely in or subsidizing those who are....
this is NOT the way things are supposed to be.....the peasants' retirement funds (what remains of them) should be fully invested in stocks at this point -- preferably the ones used to kite the indices ....
so how do we get them back? when they think the market is rigged? how do we get them to take these truckloads of overpriced crap off our hands?
re-creditize the markets...march a few non-entities (little people at some hedge funds) off a cliff and declare a clean up...
presto....come on peasants ~ time to buy!! its all clean, and the prices are honest!!!
and the noose tightens......closer and closer to the big boys....
The cynic in me wonders what this massive insider trading sting is meant to divert our attention away from...
Me too.
Me three.
like the Royal Wedding is taking over all newspapers in UK...
21 day bank holiday
Martial law
Merry Christmas all!
Hey, people love holidays, laws, and martial (arts).
Sounds bullish to me!
Buy!
Doug Cass yesterday predicted a one week closure of the NYSE sometime next year. He's nailed a couple of bullish calls lately, making me think he might have someone whispering in his ear. My tin foil hat suggests maybe he is helping lay some ground work for the ptb...just sayin'. http://www.cnbc.com/id/40300159
[No, I'm not a fan of CNBC, etc.]
Back to the main point, I too wonder about the timing of these investigations....
Someone sent me that clip - very strange. It almost seemed a bit irresponsible to talk about a cyber terrorism attack as a "certainty" next year. I wasn't very comfortable with that. I think they should have screened him better before letting him spout that off.
I disagree. I think there should be more honesty on CNBC, not less. A wider dispersion of views, not the same stuff thrown up over and over. I think they screen too much there, not too little.
It's a valid concern, and needs to be discussed more. You see how some people believe the entire Internet was re-routed through China for like 18 minutes earlier this year?
http://www.msnbc.msn.com/id/40278340/ns/technology_and_science-security
Worried Hairy? Why that would just give you another opportunity to buy up more of that there apple stock, right?
Agreed. Since its a given that our current government will never do anything to the TBTF's, I have to wonder too.
Perhaps this is supposed to distract us from "Fraudclosuregate"?
The flurry of activity the last couple of days strikes me as the FBI rushing out subpeonas because the story broke this weekend.
They need to preserve evidence, particularly with a holiday weekend coming to allow four straight days of running the shredder.
Do you mean to tell me that most of Wall Street is just guys with privileged information using it to rip off retail investors? Who woulda thunk it?
Here's from the New Yorker. Haven't had time to read it, but some of you might enjoy it:
"What good is Wall Street? Much of what investment bankers do is socially worthless"
http://www.newyorker.com/reporting/2010/11/29/101129fa_fact_cassidy
/
Where is the grilled squid? I wanted to ask you which wine you recommend with it.
Corona 2010
"That's a horse of a different color"
Tepper was't invited to SEC's party?
Awesome!
Mad Dog 20/20...........of course. Choosing the color is the tough part.
Depends on what color sofa you are going to pass out on.
LOL
Spoken like a MD 20/20 veteran.
It's winter now, so whiskey. MD 20/20 is amature hour.
Before there was Loco there was THE Dog. And that Loco is getting sold far more widely than the dog ever was.
Orange and Grape got me through college.
That stuff looks dangerous. If they get around to BlackRock or Goldman Sachs arrests, the next round of whiskey is on me. We can save the Veuve Clicquot for Brian Sack's guilty verdict.
The Ghosts of Hangovers Past
ah yes...the beloved Mad Dog...brings back fond memories of raiding the family store when mom and dad went out of town...Got a vintage bottle of Night Train gracing one of the speakers n the living room...will share with friends when Silver hits $50.00 per oz...age should b just right.....
that is some nasty shit
Some of them may wish they had gone to work for Dykstra at Nails Investments.
I wonder who is behind this shake up? Someone big.
Maybe this is the cover to finally get rid of the FED. Wonder if the Yellow Brick Road of dirty dealings all leads back to the FED? The Man behind the curtain.
"The Man behind the curtain."
Bill Gross?
Axel A. Weber
Hmmm? Pimco. Interesting observation. They do have a huge amout to lose with all of this Money Printing. Are they big enough to cause this kind of stur or is it someone even BIGGER?
Buffett. He takes them down and then the SEC forces him to take-over and reform. Buffett goes out on top and looks like God to the average american. Homo
Imagine the day if they bust buffet for insider trading
That is what I call a cheery cherry!
Burn motherfuckers, burn!
After the Thanksgiving wave of adult diabetes flattens our apathetic country on Thursday, they will be recovering on the couch watching football on their brand new 40" flat screen that they got from Target for $300 on Friday...
98% neither understand nor care about hedge funds, and the SEC's little pre-turkey witch hunt will be long forgotten.
All the phones lines are open mike
First, seeing is believing, when they are in cuffs. Second, when the main culprits are pinched I'll believe even more.
Is anybody else suspicious of this Grand Dog and Pony Show?
Nice that the authorities are showing some effort to go after inside trading—if only to ease Martha Stewart's mind, though who expects any of these bastards to do time—but what about the RICO case that is the TBTF Banksters?
Remember those guys—the ones that melted down the global economy on the backs of everybody on the planet? The ones who knowingly designed and executed the MBS fraud and then held us hostage with their derivative “protection” racket? The ones who drained trillions out of taxpayers while stealing millions of people's homes?
Is this merely a charade to restore CONfidence in the Rule of Law in this country . . . by going after a relative few renegade “bad apples”?
Good as it admittedly is to see something being done, is this IT? Is this what gets done???
Is insider trading the real problem . . . or are these guys the designated scapegoats who shoulder the blame for TARP 2 while the MBS fraud and mega-billion dollar bonuses roll merrily along?
Bob, don't forget that the system wouldn't be doing this unless it thought it needed to dissipate the stored energy in society. This tells me the little sacrificial time waters/deflectors failed even more miserably than both monetary and fiscal policy have. Looks like, if anything, the snacks are starting to get chunkier and the time intervals are tightening indicating an ever increased pressure within the Ponzi. I damn sure like the way you're asking for more.
SAC, GS and Citadel...if Getco gets one it is all about HFT. Finally!
"We have ... put(s) calls ..."
'Nuff said.
more like "Murderball."
i am LOST...well kind of a happy lost
I don't get why this blog and commenters are cheering this insider trading probe. Insider trading laws are designed to protect the true insiders: elite, socialist bankers, politicians, etc. Insider trading should be legal - have each company regulate their compensation packages and trading practices.
This is theater. That's all this is. Wake up people.
"I don't get why this blog and commenters are cheering this insider trading probe."
i suppose just good patriots...supporting SEC
may i ask...how did you come accross this blog?
Why do you think that insider trading should be legal?
"round up the usual suspects" and exclaim "i can't believe there's gambling, GAMBLING go on around here!" sure..."it's not going root and branch"--maybe we get the girl tho--or more likely "she flies off that rich dude to Paris" while we get stuck at the bar while the piano player play's "the usual"...
would someone please cross check these HFs, MFs, etc with Obama-bashing? maybe a high correlation?!
I'm still waiting for Jim Cramer's subpoena.
http://www.thestreet.com/story/891820/the-winners-of-the-new-world.html
THE WINNERS OF THE NEW WORLD !!!!!!!!!!!
How can the SEC be so incompetant ? All of Cramer's evidence is on public video ? Talk about a handout....................
7/24 solutions at $330. LOL
Easy enough is SAC with the DNDN blow up on the "bought" FDA reject in 2007:
Deep capture starring Mike Miliken
http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-1-of-15/
I was wondering how long before Citadel gets dragged into the mud. Arguably the two best multi-strategy hedge funds in the world (along with Farallon Capital Partners), and they both receive subpoenas! Too much of a coincidence for me...something is definitely up and it doesn't smell good!
buy gold - quit trying to figure out things...
Let's not forget that Citadel is a massive HFT outfit as well.
Additionally, TD you may be correct regarding HFT as the next target.
The man who called the market bottom back in March ‘09 reveals two market surprises for 2011.
And one's a whopper.
It’s no secret that Kass tends to be a tad bearish, so you won’t be surprised to hear that he’s a little concerned about the market next year – and his predictions reflect that concern.
SURPRISE #2
This one's the jaw-dropper.
Kass thinks terrorists send investors scrambling – not with guns or bombs but using the Internet as a weapon. He tells the desk “I believe cyber crime is going to explode exponentially next year as the web is invaded by hackers.”
And he thinks they target the foundation of capitalism.
”I think we see a specific attack on the NYSE,” he says. “The aftermath will have a profound impact and cause a week-long hiatus in trading as well as a slowdown in travel.” Yup, you read that right – a week long hiatus in trading.
How do you prepare for something like that?
”I’d make sure to have a large amount of cash in my portfolio,” he says.
We know that's a rather startling prediction, and in all fairness Kass divides his predictions into 2 categories possible and probable. Although he didn't say, we're guessing this one lies squarely in the possible (but not probable) category and investors should take it with a grain of salt.
However, when Kass speaks we listen - largely because he’s had an uncanny track record for being right.
Less than a week before the S&P 500 hit a generational low of 676 on March 9, 2009, Kass went on CNBC and predicted the bottom. Also, on July 6, 2010, he said the market had made its lows for the year and so far, that has also proved to be true.
Dougie is a member of the kosher nostra. He gets his tip on Fed interventions and dutifully call the bottoms on tv. Let's see him call a top.
Like Cramer, he serves his home team and shares a nice slice of the pie.
Democrats are pissed that Wall Street funded Repukes this cycle. Just a little tantrum show to remind them. It woke up Bill Gates to start wrining big cheques when he got called a predatory monopolist. No one is going to jail. Certainly not members of the kosher nostra, ever.
What's up with these restaurant stocks ticking to new highs?
Ireland is imploding, N. Korea lobbing missles, 9% unemployment. Doesn't seem to bother the NFL and NASCAR watching Joe Six from macking down some "gourmet burritos".
By the way, will Bristol Palin win Dancing With The Stars?
LOL....
If the fix is in she will. So she will. She looks like she has Todd's build.................
Ireland is getting some resolution to its uncertainty we learned this evening and Korea has moved off the front page as nothing more than saber rattling. Futures are feeling good about all that.
The consumer is out in full force, eating, drinking and buying iGadgetry. If terrorist really want to mess things up, they should just scramble network broadcasting during NFL games, Glee or Dancing with the Stars. That would send Jane Doe into a tizzy the likes of which we have never witnessed before.
Irish resolution? Really? You cannot believe that. Some Irish banks...sure. What do you think we are posting about here on this site? What do you think the steady stream of bank fraud news is all about? Why do you think the Irish folks were kicking in the PMs front door for? Today.
You know, you just keep posting this same stupid line that apple is up and burritos are selling. What is the point of your moronic and perpetual diatribe Harry?
Who do you work for?
Yes wanker buy buy buy!
Carpet bombing hedge funds with subpoenas has to be good for business, right?
US and South Korea holding joint military exercises on Sunday night, even better.
Harry's just jealous he can't keep up with gourmet burritos Lizzy. Whatcha wanna wager on the question that Harry will be streaming Bristol on his hand held device? Harry has said he likes those Apples ...
Book opens at 5:2. Who wants in?
Just saw this from the BLS:
In October, nonfarm payroll employment increased in 41 states and the District of Columbia, decreased in 6 states, and was unchanged in 3 states. The largest over- the-month increases in employment occurred in Texas (+47,900), New York (+40,600), California (+38,900), Michigan (+19,000), and Arkansas (+17,400). The largest over- the-month percentage increases in employment were in Arkansas (+1.5 percent), New Mexico (+0.8 percent), and Maine and North Dakota (+0.7 percent each).Not too shabby. I'm sorry for posting it here but I didn't see it all day. Maybe this also helped keep the markets declines in check on the good news.
Sure it did, Harry. With just a spritz of fairy dust and unicorn dew, plus a litter jiggering of the birth/death calc...a whole mess of us just suddenly got jobs.
Sweet! I know I feel much better.
Thanks Harry.
many, many hedge funds little boys and girls have been very, very bad this year. looks like Santa won't be visiting them this year, so he's sent the SEC to bring them subpoenas instead.
not that it would've mattered. They all celebrate hannukah anyway.
I agree something is up, and it most likely has to do with a major player or players becoming informants and outing the groups. For the fed to be doing this and being this quick to subpoena information tells me they are being shown where the bodies are buried. I can't wait until tomorrow to see what information is being sought after and who is involved in these companies. They are flushing out people, just like that idiot that went on Fabers show today to say that the fed essentially destroyed his research business because they wanted him to tap his clients communication. The reason he went on that show was to throw out a flag and in my opinion to warn someone without warning them. I think information the fed has pointed at him as another nexus of information for a certain firm not subpoened to have gotten information to help them in their deals. He's trying to get help by not asking for help and buy having his face out on that channel shows whoever he's been doing "special" business with that the game is up help me and help yourself also.
They got the goods and big time.
who are they? I never heard of any of those guys except Pimco
We need to clean house in these regulator agencies. They fail to do their job when things are good and the economy can withstand it and then jump all over this stuff at the worse possible time. It can't be that hard to monitor these large players trades and smell for rotten eggs. It was a daily occurrence to anyone watching the options
There was a massive insider trading sweep during George Walker Bush Administration.
Martha Stewart did time for this very same thing.
I don't see any need for further witch hunts like this.