The W
Views: 116523686
Main | FAQ | Search: Y! / G | Calendar | Color chart | Log in for more!
28.9.16 0359
The W - Current Events & Politics - Wall Street screws the liddle guy yet again Register and log in to post!
Pages: 1(1865 newer) Next thread | Previous thread
Post (1 total)
Summer sausage

Since: 2.1.02
From: Calgary ... Alberta Canada

Since last post: 3572 days
Last activity: 3572 days
#1 Posted on | Instant Rating: 0.00
Helping insiders at companies like Enron and Worldcom screw their employees and investors wasn't enough.

Helping inflate the Dot.con bubble which erased $3 trillion from the markets wasn't enough.

No, the Boys in the Blue Suits on Wall Street had to maximize profits by manipulating the mutual fund markets too.

New York attorney general Eliot Spitzer has said an investigation has uncovered evidence of illegal trading by mutual funds which leaves their shareholders out of pocket.
Mr Spitzer said he had reached a $40m settlement with a hedge fund that would assist with an ongoing inquiry into the trades.

The research had suggested that mutual fund shareholders had lost billions of dollars a year from the trades, Mr Spitzer said ...

Mr Spitzer said investigations found that ordinary investors were losing out from illegal after-hours trades and the exploitation of market movements between mutual funds and hedge funds ...

"The full extent of this complicated fraud is not yet known," Mr Spitzer said.

"But one thing is clear: The mutual fund industry operates on a double standard.

"Certain companies and individuals have been given the opportunity to manipulate the system.

"They make illegal after-hours trades and improperly exploit market swings in ways that harm ordinary long-term investors."

So if you were foolish enough to invest in most of the stock markets in the late-'90s, you got screwed. If you were foolish enough to invest in bankrupt companies' pension funds, you got screwed. If you invested in mutual funds, it looks like you may have recieved a screwing. Where's the Invisible Hand when you need it?

They got a mule they call Sal, bulldozing up canal walls.
They're gonna tap that icecap too,
And when they do they're gonna make that green map blue.
And the weather is finally getting warm ...
Promote this thread!
Pages: 1Thread ahead: CA GCOTD: RICHTER
Next thread: Calif. Schools Seek to Reduce Stress
Previous thread: Speaking of "Fair and balanced..."
(1865 newer) Next thread | Previous thread
I remember an episode of All in the Family where Gloria is telling Archie the statistics on murders with guns in the US and Archie replies, "Would you rather they be pushed outta windows?" Evil people with do evil things.
The W - Current Events & Politics - Wall Street screws the liddle guy yet againRegister and log in to post!

The W™ message board

©2001-2016 Brothers Zim

This old hunk of junk rendered your page in 0.126 seconds.