"...many hedge funds use financial engineering and accounting tricks - even illegal insider information - to fill their coffers at investor expense. And then they use those ill-gotten gains to influence politics."
Just ten days after the US Attorney for New York, Preet Bharara was fired by Donald Trump, prompting speculation if he was working on a probe of Trump himself when he was terminated and further speculation which employer would imminently retain Bharara's services, moments ago the former attorney gave the answer: he is joining the NYU School of Law.
The prominent U.S. attorney fired by Donald Trump this weekend has been justly acclaimed for his pursuit of political corruption. But his treatment of the Wall Street executives involved in the financial meltdown was far less confrontational.
"February should have been a better month for stock-picking, with pair-wise stock correlations continuing to fall to their lowest levels since 2000. But a better backdrop for stock-picking does not necessarily equate to fund managers making the right picks."
The SEC has frozen the the accounts of several traders who made more than $3.6 million in profits by trading stocks and call before the $3.3bn takeover of Fortress Investment Group was announced by Japan’s SoftBank. The unknown traders placed the “highly suspicious” orders for shares and contracts for difference, or CFDs, through Maybank Securities and R.J. O’Brien, according to the SEC.
The Federal Reserve's general counsel, Scott Alvarez, will retire this year after a 36-year career at the central bank including more than 12 years as head of the Legal Division. the Fed said Wednesday.
"We're on record as stating how unproductive, foolish and dangerous the recent liberal protests have been, and that’s before you even bring the hypocrisy factor into play. But a liberal protest against Senator Chuck Schumer (D-NY)? That is taking hypocrisy and idiocy to a whole ‘nother level."