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Wall Street

Wall street

5 of the Biggest Corporate Scandals in U.S. History

There are approximately 30 million businesses operating in the U.S. today, according to the most recent U.S. Census Bureau data.

You can bet some of those 30 million have got corporates scandals baking behind the scenes…

We found out last week that Valeant Pharmaceuticals International Inc. (NYSE: VRX) is almost certainly one of them. On Oct. 21, short seller Citron Research accused Valeant of fraud. It said the firm was used Philidor Rx Services to create phantom sales by storing inventory and recording it as transactions.

But Valeant is just the latest discovery of corporate fraud in America.

Here are some of the biggest five fraud scandals in U.S. history...

trending

Why We're Not Buying Martin O'Malley's Anti-Wall Street Platform

On May 30, 2015, former Maryland governor Martin O’Malley announced his candidacy for the Democratic presidential nomination in 2016.

The progressive icon stands to the left of the poll-leading Democrat Hillary Clinton and has found a niche in painting himself as the populist hero in contrast to Clinton’s Wall Street ties and far-ranging donor pool of “one-percenters.”

O'Malley's championing of the middle class against the "Wall Street bullies" would be laudable...if it were believable....

Trending

Wall Street Ties Link Inescapable Hypocrisy to Hillary Clinton 2016 Run

Wall Street ties to our nation's capital are more prevalent than ever.
That's why we had to shake our heads when we saw the tactic the Hillary Clinton 2016 campaign decided to run with, the week following her bid announcement on April 12.
Mrs. Clinton called for a "toppling" of the 1%. She would attempt to be cast as "Hillary Clinton, the Populist."

But to do that, she'd have to divorce herself from the very people who've bankrolled her rise to power...

Wall Street

Here's How Wrong Wall Street Stock Market Predictions Are

Trusting Wall Street stock market predictions could be hazardous to your portfolio's health.

In particular, the annual Wall Street stock market predictions made by the top analysts are so inaccurate, a blindfolded monkey with a dartboard could do better.

Collectively, the forecasts of these "experts" over the past 15 years have been off by an average of 14.7 percentage points a year. That's worse than if they'd simply guessed the long-term average return of 9% every year.

Any other worker with a track record like this would be fired immediately...

Wall Street

Why Is the Stock Market Closed on Good Friday?

Wall Street is full of adages, superstitions, and myths – and that includes answers to the question: Why is the stock market closed on Good Friday?

Good Friday is the only non-federal holiday when the NYSE closes. Rumor has it that it's closed due to serious crashes that occurred in the years it did open that day.

But that's not the real story...

Your Money

Five Questions Wall Street Hopes You'll Never Ask

Wall Street would prefer if investors never asked certain questions. But sometimes having the right financial advisor in your corner can mean the difference between huge profits and devastating losses.

How do you find the right professional amongst tens of thousands?

You narrow your options down by asking these five crucial questions...

Wall Street

Why the UBS Dark Pool Fine Is So Absurd

The UBS dark pool fine announced last week is yet another example of the U.S. Securities and Exchange Commission dropping the ball on one of the biggest schemes staring them right in the face.

The SEC came down on UBS Group AG (NYSE: UBS) for not following the rules and regulations that make markets fair and orderly – and also for not being honest to its clients.

But this "record" fine wasn't really newsworthy - in fact, it was pretty absurd...

Washington

D.C.'s New Bosses Start to Pay Back Wall Street

Wall Street is about to get paid back by D.C.'s new bosses. Because all politicians are snakes. And some of them are rattlesnakes.

On Jan 14, the House of Representatives passed an act providing banks an additional two years to comply with the Volcker Rule. What does this mean?

On Jan 14, the House of Representatives passed an act providing banks an additional two years to comply with the Volcker Rule. What does this mean?

It means that extra time will make the 1% richer. Here’s how it works…

Wall Street

How Wall Street Wins Its No-Lose Trades

Wall Street manipulators are at it again – they've found a new way to make huge profits from troubled companies.

Imagine everyone in your neighborhood taking fire insurance out on your house. Sooner or later, someone might toss in a lit match your way. That's what the puppet masters are up to.

What's worse? It's 100% legal and the rewards are limitless...

Inside Wall Street

Latest Wall Street Lies Expose the Danger with Analyst Reports

Bad behavior on the part of the big investment banks is almost a cliché by now, but some Wall Street lies can harm individual investors more than others.

This came to light again last week when the Financial Industry Regulatory Authority (FINRA) slapped a $15 million fine on Citigroup Inc. (NYSE: C) for giving privileged clients a much different opinion of certain stocks than the bank was publishing in its reports.

And Citi is not alone.

Here's why regulators can't stop this kind of thing, no matter how many fines they impose...