Counterparties

SEC Charges Hedge Fund Icon Leon Cooperman With Insider Trading

When it rains - for hedge fund managers, it pours - If it's not lack of alpha, it's insider trading. Moments ago, the SEC charged iconic hedge fund manager, Omega Advisors' Leon Cooperman with insider trading, accusing him of generating substantial illicit profits by purchasing securities in Atlas Pipeline Partners (APL) in advance of the sale of its natural gas processing facility in Elk City, Oklahoma.

Someone Just Placed A Massive Bet That The Solar City, Tesla Deal Fails

Following June's proposal, the merger of kissing-cousins TSLA and SCTY was confirmed in early August. Since then, the market has begun to aggressively price out the probability that the deal goes through as SCTY tumbles relative to SCTY's offer. Even more concerning is the massive bet someone just made that in the options market that the deal will not go through in Q4 as expected.

The Impoverishment Of The Masses

"There is something in the human psyche which denies economic truths. The explanation as to why free markets work is logical and simple to understand. The contrary evidence, that statist attempts to interfere with Adam Smith’s invisible hand always fail, is irrefutable. Yet the blame for failure is always laid at the door of capitalism. The few of us that persistently insist that right is not wrong and wrong is not right attempt a seemingly hopeless task of persuading the unwilling..."

"Clinton Foundation Is Charity Fraud Of Epic Proportions", Analyst Charges In Stunning Takedown

"The Clinton Foundation appears to be a rogue charity that has neither been organized nor operated lawfully from inception to date-as you will grow to realize, it is a case study in international charity fraud, of mammoth proportions...  Foundation entities are part of a network that has defrauded donors and created illegal private gains of approximately $100 billion in combined magnitude since 1997."

Negative Rates & The War On Cash, Part 1: "There Is Nowhere To Go But Down"

As momentum builds in the developing deflationary spiral, we are seeing increasingly desperate measures to keep the global credit ponzi scheme from its inevitable conclusion. Credit bubbles are dynamic - they must grow continually or implode - hence they require ever more money to be lent into existence. As the peak of a credit bubble is reached, all these necessary factors first become problematic and then cease to be available at all. Past a certain point, there are hard limits to financial expansions, and the global economy is set to hit one imminently.

Michael Lewitt: "We're In The Late Stages of Ponzi Finance"

“They’ve tried to solve the debt crisis by printing trillions of dollars of more debt, and somehow they expect the economy to grow under the weight of those burdens. We’re just borrowing new money to pay back old money. I would say that we’re in the late stages of Ponzi finance.”

This Is The Way The World Ends...

Would fate permit it, the election of Hillary Clinton will be the supreme and perhaps terminal act in an Anything-Goes-And-Nothing-Matters society. Her reward in office may be to dodge indictment for four years while the nation crumbles around her. This is the way the world ends: not with a bang or a whimper but with a cackle.

Connect Just Two Dots, See All The Rest

Dealers, the bedrock of the global monetary system, are hoarding collateral and it shows. That, however, doesn’t fit within the recovery narrative, so the media resorts to the easy and absurd to obscure what “should” not be happening...

Carl Icahn Has Never Been More Short The Market, Is Pressing For A Crash

there was renewed speculation if Icahn had given up on his record bearish bet. So when overnight IEP released its latest 10-Q, we were eager to find out if Carl had unwound his record short, or perhaps, added more to it. What we found is that  one quarter after having a net short position of -149%, as of June 30, Icahn's net position was once again -149%, or in other words, he has once again never been shorter the market.

Three Former Barclays Traders Convicted Of LIBOR Manipulation

The first bank to admit that it engaged in massive manipulation of the LIBOR rate was Barclays back in 2012, and traders are still being scapegoated tried in court to this day. As Bloomberg reports, five traders learned their fate recently, nearly four years since the bank admitted to the charge. Three traders were convicted, while the jury was unable to reach a verdict on the final two.