While the US media remains fixated on the fact that Donald Trump did not pay taxes in 1995, Sputnik News reports, a major scandal has been unfolding with the State Department mysteriously losing an email that documents potential insider trading on Greek bonds by Hillary Clinton’s son-in-law Marc Mezvinsky.
"We are highly disappointed with the Commission’s decision to file charges, and we strongly disagree with the Commission that either the firm or I have engaged in any unlawful conduct.... We have done nothing improper and categorically deny the Commission’s allegations."
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.
In one of the few cases of insider trading leading to an actual conviction, earlier today, a former Wall Street investment banker was found guilty for engaging in insider trading by tipping his father off to unannounced healthcare mergers. Sean Stewart, who previously worked at JPMorgan and Perella Weinberg was found guilty by a federal jury in Manhattan on all nine counts he faced, including securities fraud.
Maybe the "smart money" knows the real numbers are now so far from the central planners' rigged statistics that the carefully constructed narrative of "recovery" is doomed to an unwelcome intrusion of reality.
Today the story of Goldman's theft of confidential Fed information got its closure, when the Fed announced that Goldman Sachs has agreed to pay $36.3 million to settle allegations by the Federal Reserve that it obtained and used confidential regulatory materials from the central bank two years ago. This amounts to 0.1% of the firm's 2015 revenue of $33.8 billion.