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Wall Street

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...


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...

Tech Investing

The Worst Advice Wall Street Ever Gave

A Wall Street money manager quoted in a recent column in the Wall Street Journal said that investors should make sure they have exposure to emerging markets.

When I read that statement, I was floored. This may be the worst investment advice Wall Street ever gave.

Here's why this advice is so terrible - and what you should do instead...

Wall Street

How to Get a Piece of Wall Street Profits Without the Wall Street Corruption

There's simply no limit to how far Wall Street will go to make a buck.

It's no wonder. With corporate offenses and "bad behavior" routinely going unpunished, perpetrators have developed a sense of immunity.

But just weeks ago there was an indictment in a case of alleged manipulation of commodities futures.

It's the first ever federal prosecution for "spoofing," a tactic I recently discussed.

While we wait to see if it either sets the tone for a wider crackdown or proves to be little more than a slap on the wrist, we can also take the opportunity to profit.

Here's how we're going to play a non-bank investment against a rigged services industry...

Wall Street

The Real Reason Price Fixing Is Coming to an End

"Price fixing" or "fix" are Wall Street terms used to describe how benchmarks are priced on hundreds of instruments, from the Libor and other foreign currency exchange rates to gold, silver, and swaps.

While the methodologies used to determine fixes are different, in all cases where benchmarks are fixed by panels, the input of the bankers is what results in the output.

But here’s where things get a little… funny.

Wall Street

What Really Happened at PIMCO

As I mentioned over the weekend, the month of September ended with two dramatically different exits: The Hollywood ending of Yankee Captain Derek Jeter's Hall of Fame 20-year career, and the acrimonious departure of Bill Gross from PIMCO, the firm he founded 43 years ago.

The departure of the two could not have been in starker contrast.

More importantly, as investors, we can learn a great deal by taking a moment to explore why Gross took the extraordinary step of leaving the institution with which he is synonymous… Full Story

Wall Street

Corporate Corruption – Summed Up in One Dilbert Cartoon

Corporate corruption is so rampant it's laughable, and this Dilbert cartoon sums it up nicely.

Visit Money Morning for the top stories on Wall Street's bad behavior. Here are the latest...

Wall Street

Investigation of D.C.-Wall Street Corruption Hits Yet Another Roadblock

There's a new twist in an ongoing U.S. Securities and Exchange Commission probe into D.C.-Wall Street corruption.

For months now, the SEC has been investigating whether anyone in the federal government leaked inside information to a Washington-based investment research firm. And now up to 44 hedge funds that may have traded on that inside information are under close scrutiny.

If you thought our public servants were greedy, dirty, and corrupt before, wait until you read this...