The evil empire strikes again! Citigroup/Smith Barney once again out does themselves with their immoral creativity and ingenuity. Their ability to steal and defraud without conscience is chilling. Citigroup/Smith Barney has been ordered to pony up $208 million to settle Securities and Exchange Commission fraud charges that two of its subsidiaries profited on transfer-agency discounts […]
Things are starting to get very scary in the world of hedge funds. We have reported on many of the more spectacular blowups and rip-offs over the past few years, now as we predicted the larger “more credible” funds are starting to show some serious foundation cracks. Currently, a large number of hedge funds are […]
Move ’em on, head ’em up Head ’em up, move ’em on Move ’em on, head ’em up Rawhide Count ’em out, ride ’em in, Ride ’em in, count ’em out, Count ’em out, ride ’em in Rawhide! Keep movin’, movin’, movin’ Though they’re disapprovin’ Keep them dogies movin’ Rawhide! Don’t try to understand ’em […]
An interesting dilemma I face being the host of the Watchdog on Wall Street Radio Show is the seemingly implausible nature of many of the stories I report. I receive countless e-mails and phone calls from astonished listeners regarding stories we cover on the show or here in the Markowski Monthly. The big investment firms […]
Law enforcement and the time honored pursuit of bad guys has been successfully practiced under the bottom/up principal. It’s a simple concept, law enforcement agencies try to get lower level criminals to tattle on their superiors in order to bring down the entire crime syndicate. That practice has worked extraordinarily well in snuffing out the […]
Every single time I see a politician or Attorney General holding some ridiculous “pat myself on the back” press conference I get nauseous. Case in point, Alan Hevesi, New York State Comptroller telling all who would listen that the $2 billion WorldCom settlement he had just negotiated with J.P. Morgan Chase “represented a substantial recovery […]
The 1980’s was a golden age of comedy as far as I am concerned. Movies such as Better Off Dead, Fast Times At Ridgemont High, Sixteen Candles, and A Fish Called Wanda are a few of my favorites. If one particular 1980’s comedy film encapsulates some of the things I do in my career it […]
This past month New Jersey Judge Judith Wizmur refused the request of shareholders to file a competing bankruptcy plan for Trump Hotels & Casino Resorts Inc. which eliminates the key obstacle to court confirmation of the casino company’s Chapter 11 reorganization. The denied motion would have stripped Trump Hotels of the exclusive right to propose […]
The Wall Street Swipers sure have been busy this past month. We have been working our tails off trying to keep up with all the exorbitant malfeasance. Here are a few of the stories… EDWARD JONES PULLS A FAST ONE The Edward Jones folksy advertising campaign gives me a laugh or two a week. However, […]
Federal authorities have finally announced a crackdown on brokerage firms that have been offering investors in worthless penny stocks a “once in a lifetime opportunity” to swap into blue-chip stocks if they pay a fee. We reported on this last year on the Watchdog on Wall Street Radio Show. The SEC has charged six Florida […]