Conspiracy of Dunces: Central bank manipulations in crisis

On Monday we discover further evidence that the Bank Of England in 2008 was pressuring banks to manipulate the LIBOR rates lower as a result of the financial crisis. At the time Mervyn King was the Governor of the Bank of England and his staff were said to be questioning UK banks — including Barclays […]

You must remember this a Fed leak is just a leak, on that you can rely

“I’m shocked, shocked to find that gambling is going on in here!” says Captain Renault in “Casablanca”. Richmond Fed President Jeffrey Lacker resigned immediately yesterday after confessing he leaked Fed meeting information to a hedge fund  advisory firm days before the minutes from a previous meeting were to be released in Oct. 2012. The firm, Medley […]

Federal Reserve will move after the greatest transfer of wealth

On Wednesday we get the Federal Reserve almost certainly announcing a 25bps rise in its Fed Fund rate. This will be the second raise in the last eight years, which should tell you everything you need to know about the effectiveness of the Obama economic miracle. And yet the Feds’ move over that time allowed […]

Markets love Comey, should you?

Well FBI chief James Comey’s decision that there were no new revelations in the newly found emails sent stocks in the US soaring, despite polls saying that key background states were tightening. On the Monday morning before the presidential election, the Dow Jones industrial index was up 238 points, with the S&P up 29 points. […]

My ironic weekend with Deutsche Bank

I just love irony, it comes out of nowhere and can  bring a smile to your face. On the same day, Saturday, that my  New York Post video series, “Banker Suicides,” won a Streamy Award for Best Investigation Series, the central character in the story was indicted along with 12 other bankers on criminal fraud […]

Capital dis-formation of high-freq trading

The dog days of August are upon us and the living ain’t so easy. Judging from the empty seats and parking spots on my commute into Manhattan, many equity and bond trading desks are empty. The living is good there, but for the rest of us there is little to celebrate. Wages flat, health costs […]

Too bad the “dumb money” isn’t in the know

As equity markets in the US soar to all-time highs on the Dow Jones industrial average and the S&P 500 indices who is profiting from the run up? Certainly those companies that have been buying back stock for the last seven years, with the probable exception of Apple. But not so much the small investor. […]