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Capitalists at work...
JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. A government list of previously unidentified "co- conspirators" contains more than two dozen bankers at firms also including Bank of America Corp., Bear Stearns Cos., Societe Generale, two of General Electric Co.'s financial businesses and Salomon Smith Barney, the former unit of Citigroup Inc., according to documents filed in U.S. District Court in Manhattan on March 24. The papers were filed by attorneys for a former employee of CDR Financial Products Inc., an advisory firm indicted in October. The attorneys, as part of their legal filing, identified the roster as being provided by the government. The document is labeled "list of co-conspirators." None of the firms or individuals named on the list has been charged with wrongdoing. The court records mark the first time these companies have been identified as co-conspirators. They provide the broadest look yet at alleged collusion in the $2.8 trillion municipal securities market that the government says delivered profits to Wall Street at taxpayers' expense. `Sufficient Evidence' "If the government is saying they are co-conspirators, the government believes they have sufficient evidence that they can show they were part of the conspiracy," said Richard Donovan, a partner at New York-based law firm Kelley Drye & Warren LLP and co-chair of its antitrust practice. Donovan isn't involved in the case. Naked Capitalism's Yves Smith weighs in on tonight's story: JP Morgan, Lehman, UBS Alleged as Conspring to Cheat Municipalities on Investments Yves Smith Naked Capitalism Friday, March 26, 2010 Now it is getting closer to being official. This Bloomberg story reports that not only do Wall Street firms screw their clients (hardly a novel revelation these days) but a large group of firms allegedly conspired to price-fix on guarantee investment contracts, a product used by government issuers to park cash raised via bond issues before they deploy it... *Capitalists are destroying America* -- Conservatives - just pretend Obama's health care legislation is another unnecessary war and you'll feel better about it. |
Capitalists at work...
On Fri, 26 Mar 2010 05:59:39 -0400, hk
wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! |
Capitalists at work...
On 3/26/10 6:07 AM, bpuharic wrote:
On Fri, 26 Mar 2010 05:59:39 -0400, wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase& Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! Of course not! Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. -- Conservatives - just pretend Obama's health care legislation is another unnecessary war and you'll feel better about it. |
Capitalists at work...
On 26/03/2010 4:18 AM, hk wrote:
On 3/26/10 6:07 AM, bpuharic wrote: On Fri, 26 Mar 2010 05:59:39 -0400, wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase& Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! Of course not! Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Chumps like you are destined to learn th hard way. Too bad liberals are like packs of rats, forcing the rest to live with their mistakes. Maybe the answer is segregation, liberals live in a liberal society, and conservatives live in a seperate one. And of course, the taxing part of liberals be limited to liberals. Let the liberals live their false dream and let conservatives not have to pay for it. -- -------------- Politicians don't provide anything, the tax payers do. |
Capitalists at work...
On Fri, 26 Mar 2010 06:18:07 -0400, hk wrote:
Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Harold, here's an idea for you. Trailer your low transom Parker down to Key West, wait for a calm day, and make the 90 mile run south to Cuba. It is one of the few places left in the world with a more or less pure form of communism. Capitalism and free enterprise are not entirely unkown there, but certainly discouraged on any kind of large scale. I think you might be a good fit. ¿Tú hablas español? |
Capitalists at work...
hk wrote:
JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. A government list of previously unidentified "co- conspirators" contains more than two dozen bankers at firms also including Bank of America Corp., Bear Stearns Cos., Societe Generale, two of General Electric Co.'s financial businesses and Salomon Smith Barney, the former unit of Citigroup Inc., according to documents filed in U.S. District Court in Manhattan on March 24. The papers were filed by attorneys for a former employee of CDR Financial Products Inc., an advisory firm indicted in October. The attorneys, as part of their legal filing, identified the roster as being provided by the government. The document is labeled "list of co-conspirators." None of the firms or individuals named on the list has been charged with wrongdoing. The court records mark the first time these companies have been identified as co-conspirators. They provide the broadest look yet at alleged collusion in the $2.8 trillion municipal securities market that the government says delivered profits to Wall Street at taxpayers' expense. `Sufficient Evidence' "If the government is saying they are co-conspirators, the government believes they have sufficient evidence that they can show they were part of the conspiracy," said Richard Donovan, a partner at New York-based law firm Kelley Drye & Warren LLP and co-chair of its antitrust practice. Donovan isn't involved in the case. Naked Capitalism's Yves Smith weighs in on tonight's story: JP Morgan, Lehman, UBS Alleged as Conspring to Cheat Municipalities on Investments Yves Smith Naked Capitalism Friday, March 26, 2010 Now it is getting closer to being official. This Bloomberg story reports that not only do Wall Street firms screw their clients (hardly a novel revelation these days) but a large group of firms allegedly conspired to price-fix on guarantee investment contracts, a product used by government issuers to park cash raised via bond issues before they deploy it... *Capitalists are destroying America* Ahh. But you once said you were a capitalist. |
Capitalists at work...
hk wrote:
On 3/26/10 6:07 AM, bpuharic wrote: On Fri, 26 Mar 2010 05:59:39 -0400, wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase& Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! Of course not! Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Aren't you a businessman? You are always peddling your worthless skills. |
Capitalists at work...
On 3/26/10 9:16 AM, Wayne.B wrote:
On Fri, 26 Mar 2010 06:18:07 -0400, wrote: Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Harold, here's an idea for you. Trailer your low transom Parker down to Key West, wait for a calm day, and make the 90 mile run south to Cuba. It is one of the few places left in the world with a more or less pure form of communism. Capitalism and free enterprise are not entirely unkown there, but certainly discouraged on any kind of large scale. I think you might be a good fit. ¿Tú hablas español? I'm not advocating communism. I'm just a tad weary government being slammed when it is capitalism that put us into the dire straits we're now "enjoying." Capitalism needs to be controlled; the "free market" does not work except in theory when the capitalistic freebooters control the markets. -- Conservatives - just pretend Obama's health care legislation is another unnecessary war and you'll feel better about it. |
Capitalists at work...
On Fri, 26 Mar 2010 09:16:09 -0400, Wayne.B
wrote: On Fri, 26 Mar 2010 06:18:07 -0400, hk wrote: Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Harold, here's an idea for you. Trailer your low transom Parker down to Key West, wait for a calm day, and make the 90 mile run south to Cuba. It is one of the few places left in the world with a more or less pure form of communism. Capitalism and free enterprise are not entirely unkown there, but certainly discouraged on any kind of large scale. I think you might be a good fit. ¿Tú hablas español? capitalism is certainly unknown in the US. the GOP has turned the US into a mercantilist state |
Capitalists at work...
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Capitalists at work...
hk wrote:
On 3/26/10 6:07 AM, bpuharic wrote: On Fri, 26 Mar 2010 05:59:39 -0400, wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase& Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! Of course not! Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Businessmen? How do you define your job? |
Capitalists at work...
In article , LarryG441
@gmail.com says... hk wrote: On 3/26/10 6:07 AM, bpuharic wrote: On Fri, 26 Mar 2010 05:59:39 -0400, wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase& Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! Of course not! Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Businessmen? How do you define your job? Why even follow that vein of discussion. Everyone knows the talking poing about republicans and rich business men is just another one of those things they say enough and folks believe it. Obama has half of wall st in his cabinet, the rest are union officials... Scotty -- For a great time, go here first... http://tinyurl.com/ygqxs5v |
Capitalists at work...
On Mar 26, 6:14*pm, Peter Prick wrote:
In article , says... On Fri, 26 Mar 2010 09:16:09 -0400, Wayne.B wrote: On Fri, 26 Mar 2010 06:18:07 -0400, hk wrote: Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Harold, here's an idea for you. *Trailer your low transom Parker down to Key West, wait for a calm day, and make the 90 mile run south to Cuba. *It is one of the few places left in the world with a more or less pure form of communism. *Capitalism and free enterprise are not entirely unkown there, but certainly discouraged on any kind of large scale. *I think you might be a good fit. * ¿Tú hablas español? capitalism is certainly unknown in the US. the GOP has turned the US into a mercantilist state I think Wayne missed something during his current traveling to places where health care is available to all. It's happening here. In a few short years there will no reason to travel to Cuba for health care. America will finally beat Cuba in terms of health care. That should give any normal patriotic American some sense of pride. We Americans do like to compete. *Don't we? I'm sure Krause will be elated that the United States health care systems will be only one step ahead of that of a banana republic. |
Capitalists at work...
On 3/27/10 1:12 AM, I am Tosk wrote:
In articleROWdnROBAb89xzDWnZ2dnUVZ_iydnZ2d@giganews. com, LarryG441 @gmail.com says... hk wrote: On 3/26/10 6:07 AM, bpuharic wrote: On Fri, 26 Mar 2010 05:59:39 -0400, wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase& Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! Of course not! Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Businessmen? How do you define your job? Why even follow that vein of discussion. Everyone knows the talking poing about republicans and rich business men is just another one of those things they say enough and folks believe it. Obama has half of wall st in his cabinet, the rest are union officials... Scotty Here's a chance to prove you are not a moron. How many members does the Cabinet have? Name the ones that come from Wall Street. Do they add up to half? Name the ones that are union officials. Do they add up to the other half? Go ahead, dum-dum...show us. -- Conservatives - just pretend Obama's health care legislation is another unnecessary war and you'll feel better about it. |
Capitalists at work...
I am Tosk wrote:
In articleROWdnROBAb89xzDWnZ2dnUVZ_iydnZ2d@giganews. com, LarryG441 @gmail.com says... hk wrote: On 3/26/10 6:07 AM, bpuharic wrote: On Fri, 26 Mar 2010 05:59:39 -0400, wrote: JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging March 26 (Bloomberg) -- JPMorgan Chase& Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. but...but...this is IMPOSSIBLE!! the right tells us that the rich are blessed of god...honest, pure....always with the interests of their fellow man at heart...infallible... after all, if they would do this, then they could screw with healthcare, etc... and we know they'd NEVER do that!! Of course not! Why, you know all that medicare fraud that is always being brought up by the right? Who commits almost all of it? Businessmen. Businessmen? How do you define your job? Why even follow that vein of discussion. Everyone knows the talking poing about republicans and rich business men is just another one of those things they say enough and folks believe it. Obama has half of wall st in his cabinet, the rest are union officials... Scotty I found the use of such a generic term to be odd. |
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