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Showing posts with label Goldman Sachs (GS). Show all posts
Showing posts with label Goldman Sachs (GS). Show all posts

Wednesday, December 21, 2016

VirnetX Class Accuses Big Brokers of Naked Short Sales

December 19, 2016 CHRIS FRY HACKENSACK, N.J. (CN) – Investors claim in a federal class action that Goldman Sachs and other banking giants suppressed the share price of VirnetX, “a leader in mobile security technology.” In addition to Goldman Sachs, the Dec. 14 complaint in Bergen County Superior Court takes aim at Merrill Lynch, Credit Suisse, TD Ameritrade, Charles Schwab and the Bank of New York Mellon. The case is the Top Download for Courthouse News on Monday. As they have with countless other stocks, according to the complaint, the brokerages schemed to execute naked short sales for shares of VirnetX, with no intention of delivering stock to settle the short sales. “Instead, these prime brokers have intentionally failed to deliver VirnetX stock to settle the short positions so as to reap huge profits and ingratiate themselves to their hedge fund and corporate clients,” the complaint says. ingratiate ɪnˈɡreɪʃɪeɪt/ verb bring oneself into favour with someone by flattering or trying to please them. "a sycophantic attempt to ingratiate herself with the local aristocracy" synonyms: curry favour with, find the favour of, cultivate, win over, get on the good side of, get in someone's good books; Typical short sales involve the sale of securities an investor does not actually own, but instead borrowed for delivery with the anticipation that the price of the stock would decline, netting a profit. Though this practice is legal, the sale becomes an illegal naked short sale if the brokerage fails to deliver sales of the shorted stock by the settlement date. Two New Jersey-based investors, Lisa Karoon and Manickam Ganesh, say the brokers have been naked short selling shares of VirnetX since at least Feb. 1, 2013. VirnetX vice president Greg Wood has complained about this illegal activity several times to the Securities and Exchange Commission, according to the complaint, which specifies that Wood sent several emails in March this year to SEC officials about the conduct. Part of what has allowed the brokers to disguise much of their naked short selling, the class says, is their relationship with the Depository Trust and Clearing Corporation, or DTCC. “The DTCC is a powerful unregulated corporate institution that monopolizes the clearance and settlement of all United States securities transactions,” the complaint states. This is contributing to, but is not the sole cause of, VirnetX’s stock losses, shareholders say. “In addition, these prime brokers have ‘painted the tape,’” the complaint states. “They have manipulated the market and fixed the price of VirnetX stock through massive ‘dumping’ of VirnetX shares at key moments, all so as to create negative market sentiment, a ‘piling’ of short sales, and depression of the price of the stock so as to further their own short sale strategies and those of their hedge fund and corporate clients.” Wood, the VirnetX VP, is said to have noted this practice as well. In a February email to the SEC, Wood supposedly noted that 160,000 shares of VirnetX were dumped in the last 10 minutes of trading, which represented over 10 percent volume for the full trading day. The class says such manipulations dramatically distorted the VirnetX stock price. A drastic drop from some $35 a share to $3 occurred, according to the complaint, “despite the market’s upward movement; despite what had been an expected rise of the VirnetX shares to a projected $60 range; and despite the fact that VirnetX has been awarded $302.4 million by a jury in patent litigation against Apple.” The banks have faced millions of dollars worth of fines for this very conduct, according to the complaint, but “federal regulations and laws have not diminished Defendants’ insatiable appetite for illicit profits.” “Apart from large fees, commissions and interest that they charged, the ability and willingness of defendants to engage in naked short selling enhanced their competitiveness with hedge fund and corporate clients, who wanted to manipulate the market and depress the price of VirnetX stock,” the complaint states. The class also accuses the brokers of having concealed their illegal tactics by taking affirmative steps to keep the VirnetX stock off of an SEC list of naked short sales and delivery failures called Regulation SHO. “Discovery will certainly reveal that the Defendants circulated and marketed data concerning VirnetX and other highly shorted stocks to clients by distributing lists of top shorted stocks, knowing that they had the ability to offer its artificial supply,” the complaint states. Alleging violations of federal anti-racketeering law, fraud and conspiracy, among other claims, the class seeks $9.72 billion in damages – three times the lost value of $3.24 billion. They are represented by Philip Guarino in Montclair, N.J. The investors seek to represent a class of about 5,000 people or entities who owned shares of VirnetX stock at any point between Feb. 1, 2013 and the filing of the complaint. Representatives for Merrill Lynch, Charles Schwab and TD Ameritrade all declined to comment. Goldman Sachs and the other defendants have not returned requests for comment.

Monday, May 11, 2015

Goldman Sachs ordered to pay $80 million plus interest in 2006 case

Business | Mon May 11, 2015 8:15pm EDT Related: Regulatory News, Breakingviews Goldman Sachs ordered to pay $80 million plus interest in 2006 case A Goldman Sachs sign is seen above the floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New York January 24, 2014. REUTERS/Lucas Jackson Reuters/Lucas Jackson Goldman Sachs Inc has been ordered to pay $80 million, plus interest, to the National Australia Bank for breaches associated with the sale of mortgage-linked securities, according to a court filing. The May 7 decision, that came from an arbitration panel under the Financial Industry Regulatory Authority, granted NAB's request for compensation and also awarded interest at a 3 percent annual rate since December 2006. The marketing materials on which the NAB relied for creating a collateralized debt obligation called Hudson Mezzanine Funding 2006-1, masked Goldman Sachs’s "significant conflict of interest with its clients", the panel found. The NAB had argued for $230 million in total damages including $80 million in compensatory damages and interest of $60 million. The case number is 12-04099. (Reporting by Amrutha Penumudi in Bengaluru; Editing by Diane Craft)

Thursday, April 22, 2010

Mussolini congratulates Hitler!

Excerpts from Iraq Occupation Times:
Congratulating Nazi Israel by the American cowboys is like fascist Italy congratulates Nazi Germany for its accomplishments.

Israel is in real danger of being seriously crippled. Like Israel, Nazi Germany had the most sophisticated weapons but ended up in ruins. Jews blinded with arrogance. The days of blitz kriegs have long since gone.

According to Jewish calendar, Israel was established some 62 years ago. But despite its huge military arsenal and massive American financial, military and high-tech aids and investment, Israel is still threatened with extinction. One of the reasons for this is the fact that Israeli practices are comparable to those of Nazi Germany.

Since the world had justified the destruction of Berlin and Dresden in order to end Nazi atrocities; the destruction of Tel Aviv and the surrounding areas (Dan Gosh, Herzilia, Lod,Yahuda) will put an end to Israeli Nazi-style crimes. Almost 3.5 million Israelis and most of the 350 high-tech industries are situated in these areas. Albeit denied by Yehud Barak, Israel is preparing for a war on Syria, Hamas, Hezbullah and Iran; most probably by this summer. As there are open threats from Lieberman-Netanyahu alliance to Syria and Egypt, equally, Ahmedinejad and Hassan Nassarallah have been sending their own predictions about the imminent demise of Israel. Whether the war will take place or not, the Israelis will continue to live without peace as long as their country remains in breach of 39 UN Security Council Resolutions, practices Nazi-style atrocities against Palestinians in the occupied territories and desecrate Islam holy places. The Americans have been a party to sixty two years of Israeli bloodshed and miseries.Today there is Ahmedinejad, tomorrow there will be another Arab or Muslim with much bigger bombs and missiles that may pulverise Israel on a biblical scale.

Naturally the US wants Arabs to acquire as much US-made weapons as they can afford as long as they don't use them against Israel. On the otherhand, the US supplies as much weapons as Israel wants as long as they use them to commit atrocities against Arabs and Muslims.
The Americans are extremely stupid for thinking that the Arab people will buy this doctrine.

Arabs and Muslims must hit first if they ever want to win against Israel. They did attack Israel on Octocer 1973 and sent the Israelis gasping for US help. There is no need to talk, action is needed.Israel is ripe for picking.

Who said that only Israel can have all types of weapons of mass destruction including Nukes and the relevant delivery systems while Arabs can't have anything to defend themselves or to deter further Israeli atrocities? Times has changed for everyone in the M.E. The Israelis are living in the past and are looking for an excuse to start a war. But the the outcome will be different and may be disastrous for the Jewish state on its 62nd anniversary.


Goldman: Fleece Christians and fatten Jews!
Everytime someone investigates Jewish fraudsters AIPAC raise the flag of anti-Semitism-. No Matter how one looks at it, Jews have raped America and fleeced Americans.

It is not a secret that the Jewish financial mafia(s) of America has been fleecing Americans for decades, bribing US legislators and diverting part of the proceeds to Israel. Everything was going well until the sub-prime disaster that brought the US economy on the verge of collapse. This colossal fraud has opened the American eyes to Jewish fraudsters like Lehman Brothers, Bernie Madoff, Rotstein, Bear Stern and lately Goldman Sachs (GS). Preparing the ground for the current SEC investigation, Blankfein, CEO of GS has spent $300000 on a number of influential legislators during March 2010 alone.

What Blankfein has to explain is why GS made parcels of real estate loans, gave them high credit ranks and sold them mostly to Christian and Muslim investment funds; while at the same time asked Jewish funds e.g. Paulson and Co. to short sell them. It is clear that GS knew ahead of time that the contents of the real estate parcels were rotten. While GS made a relatively small loss on selling the parcels, it made $billions short selling them either through their own daughter company (s) or through Paulson and co. Despite the apparent anger of some legislators, in reality nothing will happen to either Goldman Sachs or to its CEO. It is in the interest of US politicians to have high-contributing Jews in control of the financial institutions and the media. It is too early for the American Zombies to wake up and send to the White House a cowboy carrying a Swastika.

The world is justified in being outraged enraged by Jewish fraudsters!
At the beginning it was the Jewish-managed sub prime real estate crisis that almost caused an economic meltdown of America and the world. It was natural for the US legislator to investigate the biggest Jewish fraudster of all time, Goldman Sachs (GS). Few days ago, Standard and Poor downgraded Greece bonds to Junk. One mustn’t forget the role of Goldman Sachs who helped the Greek government to mask the true extent of its deficit through a derivatives deal that legally circumvented the EU Maastricht deficit rules. At some point, GS knew that the so-called cross currency swaps will mature, and swell the country's already bloated deficit. The American Labour Unions plan to march on Wall Street to denounce the Jewish practices of profiting while causing massive unemployment and speculating while millions of Americans lost their homes and savings.

The greedy Wall Street Shylocks must be made to pay for all the miseries they caused to people in America and in other parts of the world. The projected Obama financial regulations don’t go far enough as they will leave the Jewish financial mafias in control of Wall Street. It is more important for the American laws to treat the Jewish organised financial crimes and racketeering the way Italian mafia crimes are treated. The crimes of the Italian mafias affect people lives on a limited scope while the Jewish financial crimes cause miseries to people throughout the world.


Solving US problems by cloning a Hitler!!!


Yesterday 20.05.10, the US senate passed Obama bank regulations bill to the anger of Jewish-controlled Wall Street. The bill aimed to clipping the fangs of the Jewish financial Dracula (s) who have been robbing Americans out of their wealth and bankrupting the country. Using scores of financial instruments e.g. hedge funds, derivatives or asset stripping, put America on its knees. Most of the financial regulators were Jews and acted colsely with the Jewish mafia controlling Wall Street. It is another way for Obama to blame the Jews for what has happened to America and similar to Hitler realisation that the Jews were causing German economic miseries.
At the same time, American scientists announced the successful production of a bacterium whose genome was produced by a computer. One doesn’t need much intelligence to connect the dots and expect the production of an American Hitler with a true final solution to US and world financial problems.

The fact that the Jews made an industry out of the holocaust bothers many. Furthermore, the Jews have exaggerated their losses considering all those who died in Hitler's concentration camps as Jewish. Millions of communists, misfits, democrats and homosexuals were sent to their death. Only the Jews got compensated and not the others. Germany was forced on paying $$$$ to Israel although no Israeli was killed by Hitler since Israel was established some three years following the collapse of Nazi Germany.

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Netanyahu is definitely stronger than Obama!
Following Obama’s and his administration dealings with Brooklyn-born ,street-wise, corrupt and terrorist Benjamin Netanyahu; one can’t help but conclude that the leader of the tiny state of Israel is much stronger than Obama, the leader of the only remaining super power. Despite repeated invitations to the Whitehouse, and frequent visits of Clinton, Mitchell and Joe Biden to Israel coupled with generous military package promised to Israel defence minister, assassin Yehud Barak, Netanyahu remains defiant about the building of illegal settlements in Palestinian occupied territories. Netanyahu wanted to extort as much concession from Obama as he possibly could knowing the extent of the Jewish control of Washington D.C. and the Jewish role during the mid-term election in November 2010. It is said that Obama has put a condition that he will authorise military attacks on Iran only if the negotiations with Mahmoud Abbas were on-going. Hapless Obama, like many US Presidents before him, were led from the nose by the Jews while choking on their own promises..

Afghanistan and Iraq had nothing to do with 9/11
It is not only Ahmedinejad and Robert Fisk of the Independent.co.uk who are skeptical about who was/were behing the 9/11 attacks. Why Americans refuse to make us see the trials of those accused on TV? Why keep so many evidence in secret filres? You must have heard that the Pentagon has bought and destroyed 10000 copies of Black Heart because the author wrote that Mohammed Atta, the Egyptian in charge of the group that flew passenger planes into the WTC on 9/11was known to the CIA and FBI as a member of Al-Qaeda. So why did they allow him to train in America on flying planes? In the UK, documents related to the death/suicide of Dr Kelly, Iraq Weapon Inspector, was kept in closed files for 75 years? Furthermore, documents related to the killing of John F.Kennedy in 1963 was also kept locked for 75 years.
People are naive to believe the official version of events. Intelligence services serve the interests of some dark forces not known to the public.

Whether its ISI or Taliban, the convoy of 30-trucks carrying fuel to NATO forces were set on fire by rocket-propelled grenades today 01.10.10. But the Pakistani army generals and the intelligence services will soon protect the road against some generous payments (bribes). One doesn't expect much from a government led by a crook like Zardary. It was his late wife, Benazir Bhutto, who made the deals with the Americans in support of their campaign in Afghanistan.


Adnan Darwash, Iraq Occupation Times

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Symbiosis between money and politics undermines democracy

Someone has once stated “It is easier for a man to pass through the eye of a needle than a rich man to enter the kingdom of heaven”. But what if the Rich man controls the banks, the media the legislators, the judiciary and centres of decision making? The worst case scanario is manifested by Italian Prime Minister (PM) Silvio Berlusconi. He bribed late PM Benito Craxi, to gain control of state owned monopolies including four TV channels. After becoming Italian PM for the second time, Berlusconi succeeded in passing laws delaying any investigation accusing him of illegal activities while he remains occupying the post of PM.

In America, it is a must for big corporations and financial institutions, including crooks like Bernie Madoff and Rotstein, to contribute to the election funds of US politicians and legislators. During the thirties, the Italian Mafias did put law enforcement officers and Judges on their payroll. At one time, thirty US senators owed their seats to the mafia. But when too many complaints filed against certain illegal practices by names likes Al-Capone, Colombo, Luciano and Genovese the Americans started to cry wolf until the mafia activities became ‘legal’.

In the US today, a new group of untouchables with names like Goldberg, Goldstein, Goldsmith, Silverstein, Spielberg, Bloomberg and Greenberg…etc are in control of the financial institutions, the media and Washington D.C Politics. A good example is Mike Bloomberg. He made $9billion working for Goldman Sachs, established his own media corporation and went to become the mayor of New York in the hope of becoming the next US President. Because of the heavy influence of the Jewish money in US politics, no-one in his right mind can criticise Israel or have an honest and open dialogue about the pro-Israeli US foreign policy.

The same American Rich men have started to invest heavily on politics in West and East Europe. In recognition for the Jewish contribution, British PM Margaret Thatcher appointed five Jewish Cabinet Ministers in her first cabinet: Nigel Lawson, Keith Joseph, Leon Brittan, Lord Young, and George Younger. All have worked to rip off the United Kingdom by privatising the state monopolies to the benefit of their friend and allies. As an example, Lord Young privatised the communication firms, left the government and got himself a $5 million job with Cable and wireless.

The same US Rich men worked to rip off the Russian state monopolies that ended up in the hands of mostly Jewish Oligarchs.(A member of a small governing faction.
)

In trying to clarify the role of US money in British politics, Tony Blair promised during the election campaign to open up the books. But later on, he changed his mind after becoming the PM and after his party treasurer, Jewish Lord Levi, showed him the extent of US money involvement in his party donations. It was not a mere coincidence that Tony Blair has joined G.W. Bush in marching on Baghdad to Israeli drums.
The bad Rich men are ruining the world by launching wars, supporting autocrats, promoting corruption, carrying out dirty works and conspiring to silence or to assassinate their foes; through their control of the mighty United States of America.Adnan Darwash, Iraq Occupation Times

Symbiosis:(A relationship of mutual benefit or dependence.
) Politicians need Bankers to win seats. Similarly, Bankers need politicians in order to use Tax payer money to pay for their losses.


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So as long as "greed comes in all races and colors" we should let certain untouchables to continue bribing politicians, misusing taxpayer money and waging wars. It is undemocratic to let a small group of blood suckers to lead Americans or any other people from the nose. The preacher president Obama is playing the game by the rules of Washington snakes.
Iraq is full of snakes and terrorists who had entered Baghdad behind US tanks.