Hey, 1%ers.......

[Mr. Shaman]

DUCK!!!!!!!!!!!!!!!!!

​

"The Obama Administration said on Nov. 17 that it is forming a multi-agency Financial Fraud Enforcement Task Force to investigate and prosecute financial crimes, including mortgage and securities fraud, as well as discrimination cases and fraud involving financial stimulus monies.

Obama's office issued an Executive Order setting up the agencyhttp://www.businessweek.com/bwdaily/dnflash/content/nov2009/db20091117_447158.htm, which will be chaired by Attorney General Eric Holder, and will include representatives of the Justice, Treasury, and Housing & Urban Development departments and the Securities & Exchange Commission, among others. The panel—which replaces a Corporate Fraud Task Force established by the Bush Administration in 2002 following a spate of corporate accounting scandals—is to hold its first meeting within 30 days.

According to a Nov. 13 Inspector General's memo, the FBI was investigating more than 189 major corporate frauds, 18 of which have losses over $1 billion, and the number of mortgage fraud investigations conducted by the FBI has more than doubled in the past three years."

 

[Mr. Shaman]

Whatta great investment, for the SHORT-term (...'til they get BUSTED!!)....

CRYIN'-TOWEL$....for the 1%ERS!!!!!!!!!!!!!!!!!​

"The accounts were all opened before October 2006, the bank said, adding that it is contacting all clients with Swiss-based accounts.

The former staffer, Hervé Falciani, was a “trusted employee” who worked for HSBC for more than seven years, Zeller said. He took the data “probably over a period of months” while working on a project to transfer client information between computer systems.

HSBC’s private bank said today that clients withdrew 4.1 billion Swiss francs last year and made deposits with rivals offering higher interest rates. The impact of the data theft on outflows was “marginal,” Zeller said.

“Our competitors continue to overpay on deposits to attract funds,” HSBC said. “We made a decision not to compete on rates, which helped secure our net interest income, but contributed to an outflow of deposits.”