Fed Releases Names Of Early FOMC Minutes Recipients: Include Employees Of ECB, Goldman, Barclays, JPM, Law And PE Firms

Tyler Durden's picture

We will release the full list of named recipients once we get it, but here is what we now for now, via BBG and CNN:

  • EMPLOYEES AT GOLDMAN SACHS, BARCLAYS, JP MORGAN, CITI, NOMURA, UBS, HSBC RECEIVED FED MINUTES EARLY YESTERDAY
  • MOST OF THE BANK EMPLOYEES APPEAR TO WORK IN GOVERNMENTAL RELATIONS (Lobbies)
  • ABA, SIFMA, SENATE STAFFERS RECEIVED FED MINUTES EARLY
  • FED NAMES 154 RECIPIENTS OF EARLY RELEASE OF FOMC MINUTES
  • FED MINUTES SENT EARLY TO BANKS, LAW FIRMS, PRIVATE EQUITY
  • FED EARLIER SAID RELEASE WENT MAINLY TO CONGRESS, TRADE GROUPS
  • NONE OF THE PEOPLE ON THE LIST ALERTED THE FED THAT THEY RECEIVED NONPUBLIC INFO A DAY EARLY

In other words: absolutely everyone who trades risk assets for a living!

A more detailed list, which also includes the ECB, via the WSJ is as follows:

Banks, trade groups and lobbying firms:

American Bankers Association
American Council of Life Insurers
Barclays Capital
BB&T
BNP Paribas
Capital One
Carlyle Group
Citigroup
The Clearing House Association
The Cypress Group
Fifth Third Bank
FINRA
Goldman Sachs
The Gray Company
Guggenheim Partners
HSBC
Independent Community Bankers of America
IntercontinentalExchange
J.P. Morgan Chase
King Street
National Association of Realtors
Nomura
PNC
Regions Bank
Rich Feuer Anderson
Roberts Raheb & Gradler
Securities Industry and Financial Markets Association
Standard & Poors
Sullivan & Cromwell
UBS
U.S. Bank
Wells Fargo
Whitmer & Worrall
Williams & Jensen

Government agencies or public-oriented entities:

Austria Federal Ministry of Finance
Bank of Japan
Conference of State Bank Supervisors
Congress (House & Senate)
Consumer Financial Protection Bureau
European Central Bank
Federal Housing Finance Agency
National Credit Union Administration
Treasury Department
White House

Of course, once the lobby workers got the list, they promptly forwarded it into the gaping maw of the mothership which pays the salaries and bonuses.

Naturally, to say that nobody traded once getting this material, non-public information, is about as credible as saying that nobody traded on the material, non-public information leaked by Tim Geithner in August 2007 when he informed the banks one day in advance of a critical Fed decision. Oh wait:

 

We will provide the full list of people who manipulate and cheat the market shortly, but for now we are curious to see how the Fed will spin that EVERYONE got an advance notice of its minutes a day in advance without this becoming a material issue with the regulators, and just how many billions in hush money it will take to push this all under the rug.

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diogeneslaertius's picture

 premature datajaculation

 

(we are all being robbed)

just keep chanting the hologram doesnt exist and it has no masters and im sure it will all go away

Winston Churchill's picture

Not even bothering to hide it.

The best indicator that the  SHF soon.

The looters are in control, and everything is now short term..

max2205's picture

There must be a trend to all this. ....

sunnydays's picture

Isn't that insider trading at the very top?  The Fed should be prosecuted for that.  Oh, but it is only the small guys that get jailed for insider trading.   The Fed is above the law along with all the banks.  

James_Cole's picture

EMPLOYEES AT GOLDMAN SACHS, BARCLAYS, JP MORGAN, CITI, NOMURA, UBS, HSBC RECEIVED FED MINUTES EARLY YESTERDAY

At least this certainly accidental leak didn't go to anyone who might benefit from it. 

The other good news is this has never happened before and will probably never happen again, total freak event. 

Surly Bear's picture

Level playing field my ass.

Divided States of America's picture

Why play this game when I am the one (little people) being shafted all the time? Its like giving me a dinner knife to go into a gun fight....I am just there to add to the body count.

Say What Again's picture

Have you taken a look at the bullshit out Inspector General (Annalyn Kurtz) is twweeting?

https://twitter.com/AnnalynKurtz

 

 

8 Apr

Gosh darn it. Just realized my two good friends, and , are getting married on a jobs Friday. The nerve!

Expand
macholatte's picture

 

We will provide the full list of people who manipulate and cheat the market shortly....

 

We don't need no stinking lists.

Brahahahahaha

-- Barry O

The Big Ching-aso's picture

If ya can't get bonuses the usual way then get 'em anyway ya can.

Troll Magnet's picture

Hang the Bernank! Hang'em ALL!  

If these fuckers aren't in jail, how the fuck can we claim to be a nation of laws?

Say What Again's picture

Tyler,

I know you are very busy, but can you post the addresses, e-mail, & phone number for the primaries in the list you just posted?

Pseudo Anonym's picture

what for? better yet, what are you going to do about it?

can you post the addresses, e-mail, & phone number for the primaries in the list you just posted

i can provide you with locations where the hofjuden that run the central bank fractional reserve scam live, and you still wont do anything about it.  so stop bothering the tylers with you stupid requests.

ihedgemyhedges's picture

Dudes, I had this nailed this morning..........

 

Wed, 04/10/2013 - 09:11 | 3430569 ihedgemyhedges

Vote up!

17
Vote down!

0

Apparently leaked to Goldman too. Sell gold they said......

SafelyGraze's picture

none of us traded on the early release meeting notes

nor did we inhale

 

onewayticket2's picture

3 months from now:

Mortgage servicer Quicken Loans and Mercedes Financial Services report that each month, payments are made by a third party on behalf of Mr. Gross.

mayhem_korner's picture

 

 

The most interesting name on the list to me is S&P.  Laundering the "AA" credit rating through FED insiders.  Nice.

I just jumped them to Jack of Diamonds in the Rumsfeld ranking.

El Oregonian's picture

Some level playing fields are more level than others...

The Big Ching-aso's picture

Well it sure looks like one pol handedly celebrated his FOMC windfall.    I don't know maybe prematurely too.

 

http://www.wjhl.com/Global/story.asp?S=21885502

boogerbently's picture

The FED, Cyprus.....

and they wonder why people avoid "the market."

drunkenlout's picture

To get the level playing field, you need a really big bulldozer.

TheSilverJournal's picture

There's a club convincing humanity of the necessity of directing the world's resources through it...and you're not in it.

Handful of Dust's picture

Lets form a 'committee' to 'investigate'...maybe even 'probe' the matter....how's about a Senate hearing with 7-course dinner breaks....

Antifaschistische's picture

the accident, is that they normally send the insider emails from a "do not backup/delete immediately" server/email address. 

This time, they accidentally sent it from their primary email server.   woops.  Someone will be in trouble for this.

ImReady's picture

I'm sure Holder is on it! This will be coming immediately after the Corzine indictment...

optionsman's picture

doesn't the Fed like ECB have some secrecy rule or provision which would have allowed them to deny this early release ever happened? the recipients too have a lot at stake and would have kept quiet about this- traded on this info- yes but hush hush of course. so why did the Fed have to admit to it? someone will have to be sacrificed for it...publicly and all will be good again ;)

just saying...

ACP's picture

Yes, all these leaks coming out left and right mean the usual criminal activity has expanded and gone mainstream. These leaks are just sloppiness. Why, you ask?

Because everyone knows that there is no penalty for criminal behavior, for members of the club...politicians, etc.

Edit: Rajaratnam gets 11 years for something that is only fractionally as bad as these guys do every single day. Jon Corzine its at home sipping brandy. It's a complete breakdown.

 

TheFourthStooge-ing's picture

.

These leaks are just sloppiness. Why, you ask?

Because everyone knows that there is no penalty for criminal behavior, for members of the club...politicians, etc.

The SEC and US Attorney General Eric "Ball" Holder will announce that they've agreed to settle with everyone on the list for a $500 fine and no admission of wrongdoing.

James_Cole's picture

The SEC and US Attorney General Eric "Ball" Holder will announce that they've agreed to settle with everyone on the list for a $500 fine and no admission of wrongdoing.

Fortunately - as is standard procedure against whistleblowers - whoever the scumbag was that dared to speak out on the incident of the accidental early FOMC minutes will be hunted down and harassed for the rest of their life. Thrown in jail if at all possible too! 

TheFourthStooge-ing's picture

.

Fortunately - as is standard procedure against whistleblowers - whoever the scumbag was that dared to speak out on the incident of the accidental early FOMC minutes will be hunted down and harassed for the rest of their life. Thrown in jail if at all possible too!

...or given an all-expenses-paid vacation to Guantanamo Tropical Beach Resort.

McMolotov's picture

Like I've said before, we've reached the stage of the game where the people in power will try to steal everything that isn't tied down.

disabledvet's picture

I do find it interesting that know one thinks this threatens very basic functioning(s) of the market itself. What if IPO's really did dry up "because while illegal it's not prosecutable"? Same goes for making sure Government data isn't "manipulated" by handing it out to people who have no interest in Government existing in the first place? Seems all rather counter productive to me. I've said it before and I'll say it again: "sorry Illinois but we have other things on our mind."

Againstthelie's picture

You need to understand there are humans and there are cattle.

Rajaratnam is not a chosen one, he's a GOY, a cattle. Corzine is a chosen one. Show some respect!

Say What Again's picture

Is it a crime, if the folks that received this info traded on the knowledge from the pre-released minutes?

We all know this really sucks, but CAN anyone be dragged into court?  Yes, I know they NEVER will be, even if there are laws that were broken.

Cdad's picture

Lawlessness...the new killin' it in America.

Say What Again's picture

Since they will not talk about this during "Dancing With the Fools," no one will care.

Try this test.

Go to your local bar this evening and start a conversation about what happened today.  Everyone will look at you like you've lost your mind!  Unless you're buying drinks, the bithces will be gone in a matter of seconds.

RockyRacoon's picture

Change bars.  There are some out there where you can have a decent conversation.  Just look for the bulges under the coats in your preliminary scouting.  Yep, they're glad to see ya.

DutchR's picture

Try mentioning the Big Kahuna Burger, same effect.

James_Cole's picture

Is it a crime, if the folks that received this info traded on the knowledge from the pre-released minutes?

Not a crime to trade on the info. 

earnyermoney's picture

If you're Martha Stewart, YES. Person's on the list, NO.

James_Cole's picture

 

It is important to note that federal securities laws do not prohibit insiders from making

trades.  The prohibition only applies to the extent that the insider is in possession of inside

information, which must be both material and not generally available to the public.  To the extent

that information is either immaterial or is publicly available, the insider is free to trade subject to

other applicable securities laws.

 

Materiality Requirement.

In determining what information should be considered material, federal courts and the

SEC have established a very broad definition without reference to any specific dollar amount.
 

 

· Earnings estimates, or changes in previously announced

earnings estimates;

· Significant expansion or curtailment of operations, the purchase

or   sale   of   substantial   assets,   significant   new   services   or

products, unusual borrowings or securities offerings;

· Significant merger, acquisition, divestiture or joint venture

proposals or agreements and management reorganizations;

· Resignations of key executives, directors or accountants;

· Matters related to cash dividends, stock dividends or stock

splits;

· Bankruptcy or other reorganization proceedings; or

· Material litigation or investigations by governmental agencies,

including any settlement discussions.

 

 

 

ParkAveFlasher's picture

+1.  What's the source of this information?  And, can I follow early FOMC statement releases on Twitter?