• GoldCore
    07/30/2014 - 18:58
    “But long term...and economic law says, if you keep printing a lot of paper money, the value of the dollar and currency will go down, and things and most prices will go up and indeed gold always goes...

New York State

Reggie Middleton's picture

BitLicense Part 1 - Can Poorly Thought Out Regulation Drive the US Economy Back into the Dark Ages?





If NYS Superintendent of Financial Services Lawsky's proposed BitLicense was applied to the Internet in 1994, Goldman Sachs & JP Morgan would be controlling your ability to read this post right now and Google, Facebook and Twitter would not exist

 
Tyler Durden's picture

Barclays Wants Dark Pool Complaint Against It Dismissed, Says "Nobody Was Harmed"; NY Attorney General Disagrees





File this one for the bizarro files. After Barclays was caught lying to its "sophisticated" clients about how it handles their order following the lawsuit by NY AG Schneiderman, the bank, having suffered an epic 75% collapse of trading volume in its dark pool, has decided to fight back and earlier today filed a motion to dismiss the dark pool complaint against it. Its main argument, as reported by the WSJ, is that the attorney general's complaint "fails to identify any fraud, establishing no material misstatements, no identified victims and no actual harm." In other words, Barclays alleges the dark pool participants were smart enough to figure out Barclays was lying to them when it promised their order flow wouldn't be offered up to predatory algos.

 
Tyler Durden's picture

Frontrunning: July 19





  • Fighting erupts in Ukraine as crash investigators arrive (Reuters)
  • Russian Billionaires in ‘Horror’ as Putin Risks Isolation (BBG)
  • Israel kills militants entering from Gaza, death toll tops 500 (Reuters)
  • The other Gaza: In violent weekend, at least 40 people shot in Chicago (Reuters)
  • Barclays Dark Pool Drew Early Alarms (WSJ)
  • Finance Industry Bonus Hit in Poll as Revenue Disappoints (BBG)
  • Severstal to Sell North American Units (WSJ)
  • Yum, McDonald's apologize as new China food scandal brews (Reuters)
  • Yellen Wage Gauges Blurred by Boomer-Millennial Workforce Shift (BBG)
  • Ukraine Offers to Hand Over Malaysia Airlines Probe to Dutch (WSJ)
 
Tyler Durden's picture

These Are The 10 "Liquidity-Providing" HFT Firms The SEC Is Investigating





Despite a full court press of PR to confirm HFT firms are friends of retail investors and do no wrong; the SEC, it appears, sees it differently. While Mary White has confidently explained the market is not rigged, her agency is now actively seeking tips, complaints, or referrals that show, as The Chicago Tribune reports, evidence of abuse of order types, as well as traditional forms of abusive trading like "layering" or "spoofing" and other issues relating to high-frequency trading that might be violations of the law. Here are the 10 firms (including poster child holy-grail trader Virtu Financial) that the SEC is probing... can you spot the oddly missing one...

 
testosteronepit's picture

No Politician Is Allowed to Oppose Banks For Long, Not Even the French President





He has “no face, no party,” “never runs for office,” but “governs,” Hollande said about “his true opponent” in 2012. It went viral. Huddled masses began to dream. But that courage fizzled.

 
Tyler Durden's picture

Too Big To BNProsecute: How Yet Another Criminal Bank Got Away With Just A Slap On The Wrist





nowhere is it clearer that nothing at all has changed when it comes to crony capitalist behind the scenes muppetry, than in the latest Reuters exclusive of the white glove treatment "evil" BNP got in order to make sure the full wrath of US justice doesn't damage the criminal money launderer too severely. "The New York state banking regulator on Monday separately decided not to pull BNP's banking license in the state, despite a criminal guilty plea, because of the risk it could put BNP out of business."

 
Tyler Durden's picture

Frontrunning: July 2





  • France's Sarkozy faces corruption probe in blow to comeback hopes (Reuters)
  • Ukraine Says Military Offensive Against Rebels Yielding Results (WSJ)
  • JPMorgan Investors Show Support for Dimon in Cancer Fight (BBG)
  • World’s ATM Moves to Frankfurt as Yellen’s Fed Slows Cash (BBG)
  • Argentina Seen Backtracking on Fernandez Vows as Legacy at Risk (BBG)
  • Palestinian teen killed in possible revenge attack (Reuters)
  • The Bill and Hillary Clinton Money Machine Taps Corporate Cash (WSJ)
  • London House Prices Surge the Most Since 1987, Nationwide Says (BBG)
  • Last Jew in Afghanistan faces ruin as kebabs fail to sell (Reuters)
 
Tyler Durden's picture

NY Anti-Fracking Ruling Deals Blow To Shale Industry





A recent court ruling giving cities and towns in New York State the authority to ban hydraulic fracturing (“fracking”) represents an enormous blow to the shale gas industry, which has been hoping to expand operations into the state for several years.

 
Tyler Durden's picture

Frontrunning: June 30





  • Facebook Researchers Manipulated News Feeds in 2012 Study (BBG)
  • Argentina at Brink of Default as $539 Million Payment Due (BBG)
  • Hedge fund correlation risk alarms investors (FT)
  • As China Flexes Muscle, Obama Frets Over Rival’s Weakness (BBG)
  • As caliphate declared, Iraqi troops battle for Tikrit (Reuters)
  • Dubai Caps Worst Month Since 2008 as Real Estate Stocks Tumble (BBG)
  • Russian Advisers Ready Iraq to Use New Combat Aircraft (BBG)
  • Blackstone Readies Big-Bet Hedge Fund (WSJ) - so what was GSO?
  • Pope says communists are closet Christians (Reuters)
  • Thomson Reuters revising FX trading standards (Reuters)
 
Tyler Durden's picture

Frontrunning: June 26





  • Minorities Seen Driving U.S. Household Growth (Reuters)
  • GM prepares to recall some Cruze sedans with Takata air bags (Reuters)
  • PBOC Halts Repos as China Money Rate Climbs to Seven-Week High (BBG)
  • Ukraine Optimism Wavers on Peace as Cease-Fire Winds Down (BBG)
  • Economic Rebound Seen Undercut by Weak Pay as Vote Winner (BBG)
  • Cracks Open in Dark Pool Defense With Barclays Lawsuit (BBG)
  • The Survivor: How Eric Holder outlasted his (many) critics (Politico)
  • IBM, Lenovo Tackle Security Worries on Server Deal (WSJ)
  • Militants take Iraqi gas field town, president calls parliament session (Reuters)
  • Carney Surprises Confounding Markets as BOE Manages Guidance (BBG)
 
Tyler Durden's picture

Frontrunning: June 18





  • Levin Hearing Ups Volume in High-Frequency Call to Action (BBG)
  • Ukrainian President Fires Central Bank Chief (BBG)
  • Argentina Plans Debt Swap (WSJ)
  • Fed Decision Day Guide From Dot Plots To Exit Strategy (BBG)
  • World Bank Economist: China May Face US-Style Financial Crisis (WSJ)
  • Premier Li says no hard landing for China, expects medium to high growth (Reuters)
  • Putin Talks Peace With Ukraine Leader After Gas Pipe Fire (BBG)
  • Poll Shows Erosion in President's Support (WSJ)
  • U.S. mortgage applications plunge in latest week (Reuters)
  • Ex-Goldman director goes to prison, still owes $13.9 million fine (Reuters)
 
Tyler Durden's picture

Frontrunning: May 22





  • McDonald’s Workers Arrested at Protest Near Headquarters (BBG)
  • U.S. Sends Troops to Chad to Hunt for Abducted Nigeria Girls (BBG)
  • BofA Scrapping Market-Making Unit Amid Trading Scrutiny (BBG)
  • Biggest attack in years kills 31 in China's troubled Xinjiang (Reuters)
  • Intense Fighting Flares in Eastern Ukraine (WSJ)
  • Fed Officials Tussle Over Labor Market Slack (Hilsenrath)
  • Ikea Economics Lure Central Bankers Seeking New Tools (BBG)
  • When Putin ordered up new hospitals, his associates botched the operation (Reuters)
  • Norway’s $33 Billion Man Steps Up Search in Asia Real Estate Bet (BBG)
 
Tyler Durden's picture

Credit Suisse Admits Guilt In Aiding US Citizens Evade Taxes - Live Eric Holder Press Conference





As expected and discussed earlier in the day, Credit Suisse appears has become the first major bank to admit to doing anything wrong (though obviously unrelated directly to the financial crisis):

  • U.S. FILES CRIMINAL CASE AGAINST CREDIT SUISSE IN FEDERAL COURT
  • CREDIT SUISSE AGREES TO PLEAD GUILTY IN TAX CASE SAYS U.S
  • CREDIT SUISSE PLEA WOULD END THREE YEAR U.S. INVESTIGATION
  • U.S. ALLEGES CREDIT SUISSE AIDED U.S. CITIZENS IN TAX EVASION

Expectations are for a $2.6 billion settlement ($1.9bn to DoJ & $0.7bn to NY) - notably more than the ~$475 million CS has reserved for the settlement - but Eric Holder's due to speak at a press conference at 6pmET to cover the details (but will anyone go to jail?)

 
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