New York State

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Overheard In The FX Rigging "Cartel" Chatroom: "Mess This Up And Sleep With One Eye Open





One Barclays FX trader, when he became the main Euro trader for Barclays in 2011, was desperate to be invited to join the Cartel because of the trading advantages from sharing information with the other main traders of the Euro.After extensive discussion of whether or not this trader “would add value” to the Cartel, he was invited to join for a “1 month trial,” but was advised “mess this up and sleep with one eye open at night.”

 
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State Department To Release Hillary Emails... In January 2016!





The good news: A federal judge on Tuesday ordered the U.S. State Department to produce a schedule for the release of emails that Hillary Clinton sent and received while she was secretary of state, a legal move that could complicate her presidential campaign.

The other news: The State Department is proposing a deadline of January 2016 to complete its review...

You just can't make this up!

 
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Dead Nation Walking





Many people seem to think that America has lost its sense of purpose. You don’t have to seek further than the USA’s sub-soviet-quality passenger railroad system, which produced the spectacular Philadelphia derailment last week that killed eight people and injured dozens more. Six days later, we’re still waiting for some explanation as to why the train was going 100 miles-per-hour on a historically dangerous curve within the city limits. The condition of our trains is symptomatic of the shape of the nation.

 
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It Just Cost Deutsche Bank $25,000 Per Employee To Keep Its Libor Manipulating Bankers Out Of Jail





Moments ago the NY Department for Financial Services announced that, in what is the largest Libor settlement in history, Deutsche Bank would pay $2.5 billion "in connection with the manipulation of the benchmark interest rates, including the London Interbank Offered Bank ("LIBOR"), the Euro Interbank Offered Rate ("EURIBOR") and Euroyen Tokyo Interbank Offered Rate ("TIBOR") (collectively, "IBOR")."  Most importantly for DB's 98,138 employees is that while DB will "terminate and ban individual employees who engaged in misconduct" nobody will go to jail. Again. In other words it just cost DB's about $25,474 per employee to keep its Libor-manipulating employees (and thus, senior level management because the stench always goes to the very top) out of prison.

 
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Full Scapegoat Retard: Trader Arrested For 2010 Flash Crash





  • FUTURES TRADER ARRESTED FOR ALLEGED ROLE IN 2010 FLASH CRASH
  • FUTURES TRADER CHARGED WITH ILLEGALLY MANIPULATING STOCK MKT
  • SARAO HAS BEEN CHARGED WITH COMMODITIES, WIRE FRAUD: GOELMAN
  • SARAO WAS ARRESTED AT HIS HOME IN LONDON TODAY, GOELMAN SAYS
  • CFTC FILES CIVIL CASE AGAINST NAVINDER SINGH SARAO
 
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Frontrunning: April 17





  • Fed Shies Away From June Rate Hike (Hilsenrath)
  • Europe Stocks Fall Most in Three Weeks Amid Greece as Banks Drop (BBG)
  • China Futures Tumble on Trust Curbs, Expansion of Short Selling (BBG)
  • Oil slips below $64 as ample supplies weigh (Reuters)
  • Fed officials lean all ways on rate hikes, data in focus (Reuters)
  • Eurozone deflation eases in March (FT)
 
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California: A Microcosm For Impending Global Water Crisis





The move by California to require mandatory cuts in water use for the first time in its history has highlighted the world’s looming water crisis and increased the focus on the links between sustainable water and sustainable energy. “We need a new paradigm,” says Steven Solomon, author of Water: The Epic Struggle for Wealth, Power and Civilization. “The days when we could just go further into the mountains and find new sources of water are past. We need to make better use of the water we have.”

 
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Wall Street Bonuses Rose 2% in 2014 To $172,860: 427% Increase In 20 Years





Finally some good news for brokers of ultra-luxury Manhattan real estate. Following the recent freeze in the most expensive housing segment in NYC in which "deals slowed to a trickle" as a result of the soaring US Dollar, and the crack down on offshore illegal wealth, it appeared that the final housing bubble left in the US that has yet to pop, that which focuses on properties $5 million and higher, was on the edge. Its day or reckoning may be delayed, however, following news that the most traditional buyer of high-end Manhattan real estate, Wall Street bankers themselves, may be finally coming back following a 2% increase in Wall Street bonuses in 2014, which pushed the average bonus to $172,860.

 
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Frontrunning: March 10





  • Dollar at 12-year peak versus euro, emerging markets spooked (Reuters)
  • CIA sought to hack Apple iPhones from earliest days (Reuters)
  • Draghi Urged Greece to Allow Troika Back Before It’s Late (BBG)
  • Brent crude dips below $58 on strong dollar and supply (Reuters)
  • Credit Suisse replaces CEO Dougan with Prudential's Thiam (Reuters)
  • More "distressed" energy M&A: Verisk buys Wood Mackenzie for £1.85bn (FT)
  • Prepare for a surge in defaults: Investors Are Buying Stocks and Bonds From Energy Producers Amid Oil Price Drop (WSJ)
  • Private equity executive ordered to pay £72m to ex-wife (FT)
  • Democratic donors unfazed by Hillary Clinton's use of private email (Reuters)
  • Expensive Hepatitis C Medications Drive Prescription-Drug Spending (WSJ)
  • 'ISIS Hackers' Almost Certainly Not ISIS Hackers (NBC)
 
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New Yorkers Consider Secession After Cuomo's Permanent Ban On Fracking





One could argue America was conceived from intense frustration that ultimately led to separation. Fed up with what they perceived as excessive control by the Crown, colonists to the “New England”, in essence, seceded in 1776, and thus the United States was born. Now, there is a renewed and growing secession conversation brewing, this time fueled by a commodity: Natural gas. Infuriated by Governor Andrew Cuomo’s December decision to permanently instill a ban against hydraulic fracture stimulation, or fracking, residents in 15 communities in the Southern Tier of New York are discussing the possibility of redrawing the border between New York and Pennsylvania.

 
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Frontrunning: February 10





  • Greek defense minister says Greece has Plan B if EU rigid on deal (Reuters)
  • Germany rejects Greek claim for World War Two reparations (Reuters)
  • Greece to Seek $11.3 Billion in Financing to Avoid Funding Crunch (BBG)
  • Lazard Sees $113 Billion Greek Debt Cut as ‘Reasonable’ (BBG)
  • U.S. Navy Considers Setting Up Ship Base in Australia (BBG)
  • Dalio’s Bridgewater Fund Said to Rise 8.3% in January (BBG)
  • As U.S. Exits, China Takes On Afghanistan Role (WSJ)
  • EU money funds cut exposure to bank debt (FT)
  • China Inflation Drops to Five-Year Low in January (WSJ)
  • Oil-Price Rebound Predicted (WSJ)
 
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NY Judge Slams Wells Fargo For Forging Documents... And Why Nothing Will Change





Everything that is broken with the US judicial system, explained with the help of two judges... and why nothing in this broken, corrupt system can ever be fixed until the grand reset finally sweeps every last remnant of the existing farce.

 
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Frontrunning: January 26





  • Alexis Tsipras: the Syriza leader about to take charge in Greece (Guardian)
  • Tsipras to form anti-bailout Greek government after big victory (Reuters)
  • Tsipras Forges Anti-Austerity Coalition in EU Challenge (BBG)
  • East Coast braces, flights canceled as 'historic' blizzard bears down (Reuters)
  • Rebels press Ukraine offensive, Obama promises steps against Russian-backed 'aggression (Reuters)
  • Syriza Victory Brings Hope for Immigrants of EU Access (BBG)
  • For Saudis, Falling Demand for Oil Is the Biggest Concern (BBG)
  • Oil prices fall on market relief over Saudi policy (Reuters)
 
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Frontrunning: January 22





  • ECB to decide on bond-buying plan to revive euro zone (Reuters)
  • Draghi Is Pushing Boundaries of Euro Region with QE Program (BBG)
  • Investors Wonder Whether ECB Will Do Enough (WSJ)
  • Treasuries Drop With Bunds Before ECB; U.S. Futures Rise (BBG)
  • European shares hit seven-year high (Reuters)
  • At least eight civilians killed in shelling of Ukrainian trolleybus (Reuters), both sides blame each other
  • OPEC Will Blink First in Battle With Shale Drillers, Poll Shows (BBG)
  • China Injects $8 Billion Into Banking System (WSJ)
  • New York says Barclays not cooperating in 'dark pool' probe (Reuters)
 
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Frontrunning: January 14





  • U.S. Index Futures Decline on Commodities Slump, Growth Concerns (BBG)
  • Al Qaeda claims French attack, derides Paris rally (Reuters)
  • Charlie Hebdo With Muhammad Cover on Sale With Heavy Security Precautions (BBG)
  • How an Obscure Tax Loophole Brought Down Obama's Treasury Nominee  (BBG)
  • ECB’s bond plan is legal ‘in principle’ (FT)
  • Charlie Hebdo fallout: Specter of fascist past haunts European nationalism (Reuters)
  • DRW to acquire smaller rival Chopper Trading (FT)
  • Oil fall could lead to capex collapse: DoubleLine's Gundlach (Reuters)
 
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