SEC OIG Investigating SEC Complicity in Naked Short Selling of Dendre... -12/01/09 at 6:35 PM CSTby Mark Mitchell

The Office of the Inspector General of the Securities and Exchange Commission not long ago submitted a semi-annual report to Congress. There are two items in the report of interest to those of us who have argued that the SEC has turned a blind eye towards, or even assisted, unscrupulous hedge funds that make their fortunes destroying public companies for ...

Did The Markit Group, A Black-Box Company Partially Owned By Goldman ... -11/17/09 at 5:44 PM CSTby Mark Mitchell

Although much attention has been directed at the contribution made by credit default swaps  to the financial crisis, most discussion has focused on the companies, such as American International Group (AIG), that posted big losses because they sold these instruments without sufficient due diligence. Another line of inquiry has not been pursued, howeve...

No Such Thing As Bad Press For Goldman Sachs -07/03/09 at 3:42 PM CDTby Perry Rod

Matt Taibbi has written a scathing piece in Rolling Stone magazine about how Goldman Sachs (GS) is the "Great American Bubble Machine."  He basically makes yet another case that Goldman Sachs makes money by controlling America's politicians and regulators.  He is not the first to make this case. For example in 2006, Kyle Pope, a former writer a...

Consolidation Brings Job Cuts -11/28/08 at 1:46 PM CSTby Reggie Abaca

J.P. Morgan is now saying that they will be cutting jobs at Washington Mutual. This is on top of job cuts at their other recent acquisitions, including Bear Stearns. This news highlights a new trend toward profitability - significant job cuts. The continued cuts are sure to significantly impact the economy. And the timing could not be worse. This holi...

Naked Short Sellers Attack Citigroup -11/21/08 at 7:22 PM CSTby Reggie Abaca

America's financial system is a mess and the U.S. Securities and Exchange Commission is to blame. Short sellers, in a concerted effort to defend themselves and abuse the lack of regulation by the SEC, are now targeting Citigroup (C) while our financial journalists, analysts and government regulators continue to do nothing. At Market Rap we've pointed out...