Short Selling Implicated in the Greatest Market Cataclysm Since 1929 -11/25/08 at 10:21 PM CSTby Perry Rod

Investigative Reporter Mark Mitchell responded today to a Wall Street Journal article uncovering the fact that short selling played a major role in the current global crisis: Journalists who write about short selling hedge funds fall into three categories. The first category is comprised of a very small number of journalists who have deliberately whitewas...

Banks Eating Each Other Alive -11/24/08 at 1:32 PM CSTby Perry Rod

The Wall Street Journal is reporting that major Wall Street firms placed large bets against Morgan Stanley (MS) using credit-default swaps, two days after Lehman Brothers sought bankruptcy protection. The firms included Merrill Lynch , Citigroup (C) , Deutsche Bank (DB) and UBS, according to the paper. The paper said that a close examination of the ...

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...

War Amid The Wall Street Massacre? -11/20/08 at 4:51 PM CSTby Reggie Abaca

It's a new world of deflated stocks, oil (OIL), and even gold - at least based on global market trading of the past month and a half.  Leveraged players are being wiped out with margin calls and the indexes are at multi year lows.  But when I go to conservative news channels (NWS) and sites like drudgereport.com, the top story is not about the W...

Mark Cuban Charged With Insider Trading - So Are Things Back To Norma... -11/18/08 at 6:55 PM CSTby Perry Rod

For a moment yesterday it felt like things were getting back to normal.  A bulletin hit the wire saying that Dallas Maverick owner Mark Cuban was being charged by the United States Securities and Exchange Commission with insider trading.  Even the stock market went up for a good twenty minutes after the wire hit. But it soon hit me right back - ...

Citigroup Cuts 20% of Workforce -11/17/08 at 10:37 AM CSTby Peter York

50,000 people is a lot of people.  That's 50,000 on top of 20,000 layoffs. Citigroup (C) has cut off approximately 30% of its workforce now amid the economic crisis as cost cutting continues.  The danger of all of it is that this is happening in the crucial holiday period, one week before Thanksgiving.  And it's on top of 5% to 10% cuts byJ...

The SEC Naked Short Selling Cover Up -11/12/08 at 8:15 PM CSTby Perry Rod

Mark Mitchell over at DeepCapture.com is reporting on the SEC cover up involving Gary Aguirre, who in 2006 helped break open the scandal of naked short selling.  Here is his report: There was an article in The New York Times yesterday about the SEC’s disgraceful ruling that it will take no disciplinary action against the SEC cronies at the cen...

The Most Difficult Climate We've Ever Seen, He Says -11/12/08 at 10:16 AM CSTby Peter York

Best Buy (BBY)'s CEO Brad Anderson single handedly sank the U.S. stock market Wednesday morning with some pretty strong words about the state of the U.S. economy: "Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we've ever seen.  Best Buy simply can't adjust fast enough to maintain our earning...

Circuit City Falls -11/10/08 at 10:48 AM CSTby Perry Rod

Just six months after Blockbuster made its ridiculous offer to buyout Circuit City (CC) for 1.35 billion, now Circuit City is filing for bankrupcy. First off, what does this tell you about Blockbuster's management.  Everyone involved, including Carl Icahn, now have egg in their face.  Although they ultimately did not pull the trigger on the buy...

Yahoo's Search Yields No Results -11/07/08 at 11:44 AM CSTby Peter York

Yahoo (YHOO)'s CEO Jerry Yang is in trouble.  When Microsoft (MSFT)'s CEO Steve Ballmer ruled out another bid for the search giant, he sent a message to Yahoo's board of directors: your management is incompetent. Yahoo Chief Executive Jerry Yang said at an industry conference that Microsoft's best option was to buy his company and Yahoo is still will...

787 pushed back for 2010 -11/04/08 at 5:35 PM CSTby Dan Toma

Due to the machinist strike (now setteled) the schedule for the development of the 787 Dreamliner was pushed back. Boeing (BA) postponed the first flight of its 787 Dreamliner for the third quarter of 2009. The project was allredy 16 weeks  behind schedule before the strike now its first delivery is likely to occur sometime in the second half of 2009...