Linkfest: Cohen’s early warning; Size of bank fines seen exaggerated; Senior fraud epidemic
Categories: Linkfest
Today’s most shared: Cohen’s early warning… Senior fraud epidemic… Banks reportedly pay huge fines, but numbers seem inflated… Hypergrowth in smartphone traffic… Questions for 2014: reasons for optimism? … High pressure sales at Wells Fargo… Ackman refuses to capitulate on Herbalife… Rakoff defends remarks… Gold falls as central bank balance sheets continue to rise… Bernanke’s legacy tarnished by high unemployment, even more dominant TBTF banks… Fisher would have tapered faster… Retail traffic reported weak. Happy holidays!
Cohen Said to Have Warned Friend About Possible Federal Investigation
New York Times
Sources briefed on the insider trading investigation into Steven A. Cohen, the head of SAC Capital, say that a call in 2009 raised his suspicions.
shared by @jennablan, @AmyResnick, @counterparties, @lizzieohreally, @MattGoldstein26
New York Times
Sources briefed on the insider trading investigation into Steven A. Cohen, the head of SAC Capital, say that a call in 2009 raised his suspicions.
shared by @jennablan, @AmyResnick, @counterparties, @lizzieohreally, @MattGoldstein26
The fleecing of older Americans is becoming an epidemic, say experts
Wall Street Journal
The fleecing of older Americans is becoming an epidemic. People 60 and older made up 26% of all fraud complaints tracked by the Federal Trade Commission in 2012.
shared by @AmyResnick, @TheIntuitInvest, @pdacosta
Wall Street Journal
The fleecing of older Americans is becoming an epidemic. People 60 and older made up 26% of all fraud complaints tracked by the Federal Trade Commission in 2012.
shared by @AmyResnick, @TheIntuitInvest, @pdacosta
Banks pay for past sins as US, Europe levy record fines
CNBC
U.S. and European regulators fined banks record amounts this year, imposing penalties and settlements of more than $43 billion.
shared by @kaylatausche, @BarbarianCap
CNBC
U.S. and European regulators fined banks record amounts this year, imposing penalties and settlements of more than $43 billion.
shared by @kaylatausche, @BarbarianCap
Giant Mortgage Settlement Numbers Considered Inflated
New York Times
The news release said the Consumer Financial Protection Bureau had ordered Ocwen Financial to pay $125 million in refunds to borrowers who entered foreclosure and write down $2 billion on the mortgages it services. But that’s not the full story.
shared by @nasiripour, @MattGoldstein26
New York Times
The news release said the Consumer Financial Protection Bureau had ordered Ocwen Financial to pay $125 million in refunds to borrowers who entered foreclosure and write down $2 billion on the mortgages it services. But that’s not the full story.
shared by @nasiripour, @MattGoldstein26
U.S. Mobile Internet Traffic Nearly Doubled This Year
New York Times
Two big shifts happened in the American cellphone industry over the past year: Cellular networks got faster, and smartphone screens got bigger.
shared by @firstadopter, @raju
New York Times
Two big shifts happened in the American cellphone industry over the past year: Cellular networks got faster, and smartphone screens got bigger.
shared by @firstadopter, @raju
US judge defends remarks on financial crisis
CNBC
US Federal Judge Jed S. Rakoff spoke exclusively with CNBC in some of his first public comments following his controversial essay in the January 9 edition of the New York Review of Books.
shared by @retheauditors, @IvanTheK
CNBC
US Federal Judge Jed S. Rakoff spoke exclusively with CNBC in some of his first public comments following his controversial essay in the January 9 edition of the New York Review of Books.
shared by @retheauditors, @IvanTheK
Ten Economic Questions for 2014
Calculated Risk
shared by @TheStalwart, @ReformedBroker, @calculatedrisk, Abnormal Returns
Calculated Risk
shared by @TheStalwart, @ReformedBroker, @calculatedrisk, Abnormal Returns
The Grumpy Economist: Hope for healthcare?
The Grumpy Economist
shared by reddit/Economics, Marginal Revolution
The Grumpy Economist
shared by reddit/Economics, Marginal Revolution
In Soured Investments, Brokers Emerge as Culprits and Victims
New York Times
shared by @AmyResnick, @MattGoldstein26
New York Times
shared by @AmyResnick, @MattGoldstein26
Wells Fargo’s pressure-cooker sales culture comes at a cost
LA Times
Wells Fargo branch manager Rita Murillo came to dread the phone calls.
shared by @LaurenLaCapra, Here Is The City, @ProPublica
LA Times
Wells Fargo branch manager Rita Murillo came to dread the phone calls.
shared by @LaurenLaCapra, Here Is The City, @ProPublica
Ackman sticks with Herbalife short sale, promises new information in 2014
Reuters
Herbalife is still engaged in improper recruiting tactics and is likely violating multi-level market restrictions in China, activist hedge fund manager William Ackman wrote to his investors.
shared by @businessinsider, @SconsetCapital, @HamzeiAnalytics
Reuters
Herbalife is still engaged in improper recruiting tactics and is likely violating multi-level market restrictions in China, activist hedge fund manager William Ackman wrote to his investors.
shared by @businessinsider, @SconsetCapital, @HamzeiAnalytics
RIP: The Gold Bulls’ Most Beloved Chart Died In 2013
Business Insider
It had a pretty good run, but this chart died in 2013.
shared by @JacobWolinsky, @IvanTheK, @TheArmoTrader
Business Insider
It had a pretty good run, but this chart died in 2013.
shared by @JacobWolinsky, @IvanTheK, @TheArmoTrader
As the clock ticks, retail traffic continues slide
CNBC
According to ShopperTrak, traffic for the week ended Dec. 22 was down 21.2 percent year over year.
shared by @saraeisenFX, @FGoria
CNBC
According to ShopperTrak, traffic for the week ended Dec. 22 was down 21.2 percent year over year.
shared by @saraeisenFX, @FGoria
Ben Bernanke’s tenure at the Fed wasn’t net positive
theguardian.com
Dean Baker: Bernanke tried to boost demand, but he leaves behind high unemployment and stronger-than-ever Wall Street behemoths
shared by @MarkThoma, @counterparties, @nasiripour, @bobivry
theguardian.com
Dean Baker: Bernanke tried to boost demand, but he leaves behind high unemployment and stronger-than-ever Wall Street behemoths
shared by @MarkThoma, @counterparties, @nasiripour, @bobivry
Fed’s Fisher Would Prefer $20 Billion Taper Increments
Wall Street Journal
Dallas Fed President Fisher, who next year will gain a voting slot on the Federal Open Market Committee, said he would have voted with the majority on last week’s tapering decision.
shared by @mark_dow, @pdacosta
Wall Street Journal
Dallas Fed President Fisher, who next year will gain a voting slot on the Federal Open Market Committee, said he would have voted with the majority on last week’s tapering decision.
shared by @mark_dow, @pdacosta
Edward Snowden, after months of NSA revelations, says his mission’s accomplished
Washington Post
His leaks have fundamentally altered the U.S. government’s relationship with its citizens, the rest of the world.
shared by @peterlattman, Naked Capitalism, @JacobWolinsky, @YanniKouts
Washington Post
His leaks have fundamentally altered the U.S. government’s relationship with its citizens, the rest of the world.
shared by @peterlattman, Naked Capitalism, @JacobWolinsky, @YanniKouts
Happy holidays!
StreetEYE.com follows the best ‘curators’ on the web and social media, and finds all the top financial news right now, as voted by you.
Please help us pick the most important stories you think should appear in this linkfest by voting here!