U.S. to charge ex-Suisse traders on subprimes - News and Current Events | futures io social day trading
futures io futures trading


U.S. to charge ex-Suisse traders on subprimes
Updated: Views / Replies:237 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

U.S. to charge ex-Suisse traders on subprimes

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

U.S. to charge ex-Suisse traders on subprimes

(Reuters) - U.S. authorities are preparing to charge four former Credit Suisse Group AG employees with criminal and civil fraud related to write-downs on subprime mortgage derivatives at the height of the financial crisis, sources familiar with the matter said.

Credit Suisse will not be charged in the matter, which is being investigated by federal prosecutors and the U.S. Securities and Exchange Commission, the sources said.

The four people to be charged were former Credit Suisse traders who were fired, another source said, but it was unclear when and for what reason. The suspected illegal conduct took place roughly four years ago, the source said, adding that the bank had been cooperating with officials.

The investigation stems from $2.85 billion in write-downs that Credit Suisse took on collateralized debt obligations in 2008, said the sources, who spoke on the condition of anonymity.

Credit Suisse revealed those CDO losses in early 2008, and blamed them on a group of rogue traders - who the bank said had deliberately mispriced securities - and on a failure of internal controls.

Credit Suisse, the Federal Bureau of Investigation, the SEC and Manhattan U.S. attorney Preet Bharara declined to comment on the matter.

Charges could come as early as Wednesday, people familiar with the matter said, but the timing was uncertain.
The planned charges come as the Obama administration is stepping up efforts to prosecutes Wall Street bankers and others for misconduct related to the financial crisis. Last week during his State of the Union address, President Obama announced the formation of a mortgage-fraud task force to pursue subprime-related cases.

The collapse of the subprime housing market was one of the triggers of the worst financial crisis since the Great Depression.


U.S. to charge ex-Suisse traders on subprimes: sources | Reuters

Reply With Quote

Reply



futures io > > > > U.S. to charge ex-Suisse traders on subprimes

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Credit Suisse makes life a little harder for aspiring rogue traders kbit News and Current Events 0 December 15th, 2011 08:45 PM
Credit Suisse Warns of 'Last Days' For the Euro kbit News and Current Events 0 November 21st, 2011 02:58 PM
If US Defaults, Stocks Fall 30%, GDP 5%: Credit Suisse Quick Summary News and Current Events 0 July 28th, 2011 07:30 AM
$700 for indicators free of charge ? Eric j Traders Hideout 16 December 2nd, 2010 09:21 AM
In Gulf, It Was Unclear Who Was in Charge of Oil Rig Quick Summary News and Current Events 0 June 6th, 2010 10:40 AM


All times are GMT -4. The time now is 09:46 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.06 seconds with 19 queries on phoenix via your IP 54.226.34.209