Trading Losses, Cover-ups, and Media Leaks

BMO’s CEO is just not Downe for showing this, here they are  anyway.

For those Being Moore lazy than BMO’s risk management, here is the recap of said documents in a slide show. Or, the FULL set of BMO’s  documents can be read here (175, 177, 178). And for the ultra motivated bankster killers (i.e. WilliamBanzai7 and Tyler Durden) any related documents are accessible HERE. I am Moore than happy to provide the confidential Deloitte report upon request.  What is that smell? Is that ZeroHedge catching the smell of scienter Bill-owing out of BMO’s C-suite.

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additional photo credits go to Banzai7

Reblogged from Policy Interns:

The short answer is: maybe.

On Wednesday, during the Senate Banking Committee hearing, Senator Elizabeth Warren grilled Federal Reserve Chairman Ben Bernanke on the $83 billion implicit subsidy that big banks receive from low interest rates. That night, Fox Business News’ Gerri Wilson misquoted the figure, expressing outrage over the “$83 trillion dollars, you know, I can’t get over that number.”

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Reblogged from Professional Bank Services:

In recent years, bank compliance procedures have been at the forefront of modern business activities. Government regulators frequently use reports provided by financial institutions to track criminal activity. The regulations in place that require financial institutions to report certain types of information to the public also protect customers against improper banking procedures.

This portion of the financial services industry has been growing at a rapid pace in recent years.

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Reblogged from Abilene Alternative News:

We don't need them, they prey off of us. Hang the bankers.
Read Story Here:

Reblogged from misebogland:

Rather than delaying reform of derivatives for banks that are backed by federal deposit insurance (thus making the taxpayer liable for paying for investment banking risks), why not take away the commercial part of these investment banks?  Investment banks make the risky bets and investment banks should pay for their own risks without any help from taxpayer insurance.

Better yet, outlaw altogether all derivatives that are based on speculation! 

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Reblogged from Swankidelik:

Every time a cash drawer flings open, a bankster gets more bling to blow on yachts, puffin on hydroponic blunts, straight rollin...holdin hands with the devil herself...and still I bought this Fiji water for two fifty retail in a non-reusable plastic bottle and threw it away for convenience's sake...so hell, can I really blame anybody else but myself for the way this world revolves around gross profit sales?

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Reblogged from ask maverick:

• 

The Bankster though the latest book by Ravi Subramanian is the first on I read from his writings and left me hungry for more. I ordered all the other books written by him and finished them at record speed.

The Bankster takes you into the murky side of banking, money laundering and corporate politics. The banks with whom we put both our money and trust are not exactly saintly and this book reveals to what extents they go to satisfy their hunger for business.

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Dear Whole Wide World

This is a public service announcement! Bank Of Montreal is a cesspool of fraudulent executives covering nearly all executive groups. To the extent anyone reading this is able to further bring these facts into the public spotlight, it would greatly advance the accountability of our in-Justice system. It only requires a small investigation into the facts to begin awakening to the unbridled fraud that has and will continue to occur by the Bank of Montreal.

As part of this unfathomable corporate bank fraud the bank relies upon legal firms buying out our very justice system. All the while the Securities Exchange Commission fails at its job of protecting investors but clearly succeeds at the protection of the Wall Street Wrongdoers. In the current instance BMO hired a PR firm to lie to the public and BMO’s own shareholders for the private benefit of management. Further aided by the crony capitalist legal team of Sullivan & Cromwell.

http://www.zerohedge.com/news/bloomberg-foia-documents-how-wall-street-made-muppet-sec-and-dodd-frank

Mixed Readings on Consumer Confidence in July

Reblogged from Eye on Housing:

The Conference Board’s Consumer Confidence Index (CCI) and the University of Michigan Consumer Sentiment Survey reported consumer confidence moving in opposite directions this month. The CCI indicated a modest gain while the University of Michigan survey showed a slight decrease in consumer confidence versus last month. While the month-to-month changes for each index have not been entirely consistent with one another, the 3-month moving average of both indexes do reveal that consumer confidence has trended lower from multi-year highs over the course of the last few months.

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Two stories about the crisis

Reblogged from Emergent Economics:

Two unorthodox economists have written about the crisis in 1000 words or less. They're both interesting because they depart so fundamentally from the mainstream story. Steve Keen says it's all about debt; Michael Roberts, the rate of profit.

Keen:

Both the crisis and the apparent boom before it were caused by the change in private debt. Rising aggregate private debt adds to demand, and falling debt subtracts from it... 

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Zynga Stock Tanks In After-Hours Trading

Reblogged from CBS San Francisco:

SAN FRANCISCO (CBS/AP) - Online game maker Zynga is falling sharply in after-hours trading after the San Francisco company reported an unexpected loss in the second quarter.

After finishing up just over three percent at the end of trading Wednesday, after-hours trading has sent the stock plummeting nearly 40 percent.

Zynga Inc. reported adjusted earnings and revenue below Wall Street's expectations Wednesday.

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