Insider Trading – Page 2 – Infinite Unknown

‘PONZI SCHEME’ AT CITIGROUP

May 3, 2010December 5, 2008 by Infinite

SUIT SLAMS RUBIN

Robert Rubin

A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that’s now choking world banking.

Director Rubin and ousted CEO Prince – and their lieutenants over the past five years – are named in a federal lawsuit for an alleged complex cover-up of toxic securities that spread across the globe, wiping out trillions of dollars in their destructive paths.

Investor-plaintiffs in the suit accuse Citi management of overseeing the repackaging of unmarketable collateralized debt obligations (CDOs) that no one wanted – and then reselling them to Citi and hiding the poisonous exposure off the books in shell entities.

The lawsuit said that when the bottom fell out of the shaky assets in the past year, Citi’s stock collapsed, wiping out more than $122 billion of shareholder value.

However, Rubin and other top insiders were able to keep Citi shares afloat until they could cash out more than $150 million for themselves in “suspicious” stock sales “calculated to maximize the personal benefits from undisclosed inside information,” the lawsuit said.

Read more‘PONZI SCHEME’ AT CITIGROUP

Ron Paul on The Alex Jones Show: A Global Financial Order

October 19, 2008 by Infinite

Ron Paul on The Alex Jones Show”A Global Financial Order”1/2
Added: Oct. 17, 2008

Source: YouTube

Ron Paul on The Alex Jones Show”A Global Financial Order”2/2

Added: Oct. 17, 2008

Source: YouTube

Share sharks made £190m profits from HBOS by trading two minutes BEFORE BBC announced Lloyds TSB rescue

September 21, 2008 by Infinite

Speculators made a £190million profit from HBoS shares after details of takeover talks with Lloyds TSB were announced on the BBC

City watchdogs are expected to investigate how speculators made a £190million profit from HBOS shares in a frenzied two minutes of trading immediately before news of the bank’s rescue was made public.

Details of the takeover talks between the bank and Lloyds TSB were controversially announced by the BBC’s business editor Robert Peston on Wednesday morning.

Before his 9am broadcast, HBOS shares had dipped to a low of 88p. But his scoop sent the price rocketing to 215p in the space of an hour, giving the mystery buyers huge instant profits.

In just two deals between 8.57pm and 8.58pm, buyers snapped up more than 20million HBOS shares at 96p each, netting millions of pounds in profit.

Bear Stearns: Insider Trading

August 13, 2008 by Infinite

Aug. 11 (Bloomberg) — On March 11, the day the Federal Reserve attempted to shore up confidence in the credit markets with a $200 billion lending program that for the first time monetized Wall Street’s devalued collateral, somebody else decided Bear Stearns Cos. was going to collapse.

In a gambit with such low odds of success that traders question its legitimacy, someone wagered $1.7 million that Bear Stearns shares would suffer an unprecedented decline within days. Options specialists are convinced that the buyer, or buyers, made a concerted effort to drive the fifth-biggest U.S. securities firm out of business and, in the process, reap a profit of more than $270 million.

Whoever placed the bet used so-called put options that gave purchasers the right to sell 5.7 million Bear Stearns shares for $30 each and 165,000 shares for $25 apiece just nine days later, data compiled by Bloomberg show. That was less than half the $62.97 closing price in New York Stock Exchange composite trading on March 11. The buyers were confident the stock would crash.

“Even if I were the most bearish man on Earth, I can’t imagine buying puts 50 percent below the price with just over a week to expiration,” said Thomas Haugh, general partner of Chicago-based options trading firm PTI Securities & Futures LP. “It’s not even on the page of rational behavior, unless you know something.”

`Lottery Ticket’

The 57,000 puts that traded March 11 at the $30 strike price and the 1,649 that traded at $25 were collectively worth about $1.7 million, Bloomberg data show. Each put is equal to 100 shares of stock.

“That trade amounted to buying a lottery ticket,” said Michael McCarty, chief options and equity strategist at New York-based brokerage Meridian Equity Partners Inc. “Would you buy $1.7 million worth of lottery tickets just because you could? No. Neither would a hedge fund manager.”