The MacDougal Post: Some Financial Crooks Go Down

August 11, 2012

Some Financial Crooks Go Down

A former Fallutin National capo agreed to plead guilty to rigged-bid racketeering last month as part of a leniency deal requiring him to rat out gangland accomplices at that and other white-collar criminal enterprises. Taking the witness stand to help the Feds crack down on municipal bond underwriting cons, this rat fink threw the former head of a supposedly rival municipal derivatives group under the bus at Manhattan Federal Court Thursday, blabbing about how enforcers at Fallutin and their counterparts at Zurich’s Funnymoney Numbered Account Bank of Switzerland (FNABS) maintained dirty little deals like “agreements to forestall head-to-head competition”, “ways competition could be dulled”, and how to “keep other competitors away”.

Apparently, it was your Madoff-Class Rip-Off City all over again, with the municipal bond derivatives trading desks at Fallutin and FNABS spilling to one another all the information they got, playing you screw your customer and I’ll screw mine while the dumb suckers think we’re coming up with independent numbers because we’re telling them we are.

Near as MacDougal Post staffers can determine, these cases against the Presbyterian Mafia really rest on wiretaps, the same kind of method Feds have been using to take down their Sicilian Mafioso gumbas for generations. The only difference between “Scarface” Al Capone, Vincent “Mad Dog” Coll, “Icepick Willie” Alderman and your prototypical 21st Century Wall Street arch-criminal are two startling truths: these Ivy League vipers bag way, way, way, way, way more swag than the cold-blooded thrill killers of yesteryear would’ve ever figured possible.

And today’s mob perps murder way, way, way, way, way more innocent victims too. All those suicides and family homicides/suicides begotten from catastrophic financial depredation. Who else are you going to finger for the horrific consequences of Wall Street crime?

Inside the Scam

Short-sellers flood markets with bogus shares, involving buyers in bookkeeping transactions, not stock, and not telling them about it. Wall Street helps hide the fraud with Madoff accounting, even letting shorts pay dividends as part of this scam, duping investors into believing they get real dividends paid by the company they thought they invested in.

Worse, short-selling, in effect, adds these phony shares to the actual total number reported in company financial statements, which goes into the various earnings per share (EPS) calculations, essential components of the critical metric universally used to value common stocks, the price/earnings ratio (P/E). In a selling frenzy, EPS can be cut from, say, $4.00 to $0.40 or $0.04 or whatever, by the immense volume of fake shares these pretend investors are drubbing the real ones with at point of purchase.

Every reference made to P/E as a calculable metric is a lie. Our stock market is gamed by short-side racketeers, rendering equity investment in this country a massive securities fraud. Their humongous swindle purloins much of our savings during every market downdraft.

Odds are the SEC staff belongs in jail. Gangland racketeering is more than enabled by the complicity of our regulatory hotshots. Mob stooges inside that agency have spearheaded these cons for generations, flat out lying to us all those years.

Surely, the SEC's remarkable contention that short-sellers borrow their shares from you and me is, in its downright absurdity, the nadir of arrogance and criminal obfuscation.

That's why we're never asked to go along with it.

Site Exclusives

As our young readers know, any loser who steals mommy and daddy's savings is a stupid ninny.

Wall Street hires the biggest dumbbells in the world. That's because God hates stealers, and the nincompoops don't even know it.

Keep an eye on bad men like hedge fund managers, bank CEOs and proprietary traders right here in The MacDougal Post. Incorrigible dingbats like Mucus Poole-Knightly, Pockets MulGoon, and Lewie the Dip, just to name a few of the head cases found on the site, are contracted to appear here exclusively.

You won't find that kind of financial coverage anywhere else in cyberspace.

Check in with us regularly to find out what's really going on with your money, if there's any left. And when it's all gone, take a shower whenever you can and drop in on us from the local public library.

The MacDougal Post

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August 11, 2012

Some Financial Crooks Go Down

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