Thursday, August 16, 2012

Criminal charges unlikely for MF Global execs

Welcome to the morning roundup. Here's a look at today's banking and finance headlines. 

Charges unlikely. A criminal investigation into brokerage firm MF Global's collapse is unlikely to result in any charges against top executives, the New York Times reports. Criminal investigators have determined that chaos and faulty risk controls, not fraud, led to the disappearance of about $1 billion in customer money, people involved in the case told the Times. 

Swiss banks. Swiss banks are turning over thousands of employee names to U.S. authorities as they seek leniency for allegedly helping American clients evade taxes, Bloomberg reports, citing lawyers representing banking staff. 

Knight and JPM. After a trading glitch led to massive losses at Knight Capital Group Inc., the brokerage firm turned to JPMorgan Chase & Co. for emergency funding, the Wall Street Journal reports, citing sources familiar with the situation. 

Economic improvement? More Americans filed new claims for jobless benefits last week, but the overall trend suggested the labor market is improving, Reuters reports. Meanwhile, stocks climbed this morning.


Anonymous said...

What will it take to get charges filed against ANY of these criminals? I guess having consensual sex without a condom with a Swedish marxist...

Looks like the millions Goldman and Corzine gave to Obama, and the deals between them and Holder's law firm, have paid huge dividends.

Why don't you INVESTIGATE any of this? Does it really take TWO people to copy and paste five articles every morning? Please let me know in advance if either of you is quittin' 'cuz I want YOUR gig.

Anonymous said...

Are you two going to answer the question or do you do bong hits all day after posting your quota of five web links to bank-controlled media lies?