BUND BOND BAND defla-infla-hyper-zozzone, il G20 con la slogatura geopolitica-VM69

Usa: Sec smantella frode da 68 mln usd
NEW YORK (MF-DJ)--La Consob americana, Securities and Exchange Commission, ha smantellato una nuova frode finanziaria da 68 milioni di dollari operata attraverso la United Trust of Switzerland. Lo ha reso noto la Sec stessa, che ha spiegato come agli investitori americani veniva fatto credere che i loro risparmi venissero investititi in certificati di deposito che offrivano rendimenti fino al +321%. Nella trappola sarebbero finiti 375 investitori. Le somme raccolte venivano utilizzate dagli autori della truffa per arricchirsi e per pagare le loro spese personali. Ad architettare la truffa sarebbero stati William Wise e Kristi Hoegel, attraverso la United Trust of Switzerland, societa' con sede a Ginevra, e la sua filiale Millenium Bank, basata ai Caraibi. Il meccanismo utilizzato per truffare si basa sullo stesso principio usato dal finanziere Bernard Madoff
 
Bank bonuses fuel French outrage French public outrage over executive perks was fuelled Friday by news that an ailing bank bailed out by the state is doling out 70 million euros (95 million dollars) in bonuses to employees. Investment bank Natixis, which received two billion euros in government funds to help it survive the economic crisis, said the bonuses for 2008 will go to some 3,000 workers. Natixis, a subsidiary of Caisse d'Epargne and Banque Populaire, currently being merged, last month reported a net loss of 2.8 billion euros for 2008 and is laying off 1,250 workers in France and in branches abroad. "When Natixis shareholders learn that not only have they lost everything, but that part of their money has gone to paying traders' bonuses," they will be "completely scandalised," said Colette Neuville of the French minority shareholders group ADAM. Shares in the bank have been hovering around 1.50 euros, far below the 19.55 euros they sold for at its stock market launch in December 2006. Natixis' bonus announcement came a day after President Nicolas Sarkozy's chief of staff Claude Gueant said a government decree would be issued next week to ban stock options and bonuses at firms receiving help from the state. The issue of pay in state-aided firms has become a politically toxic subject across Europe and the United States, where executives at bailed-out insurance giant AIG agreed this week to give back 50 million dollars in bonuses. Sarkozy, speaking just days after a million workers took to the streets to contest his economic policies, had this week threatened a law to cap bonuses and stock options at firms that lay off staff after getting state bail-outs. But Gueant said that regulating by decree was "faster and easier" than putting a bill through parliament. Details of the measure have not yet emerged, and the left-wing Liberation daily on Friday slammed it in a front-page headline as "The Phoney Decree." The paper said it would affect only "a handful of bosses who ... have already said they are giving up their bonuses or stock options for this year." Natixis noted Friday that its directors "in December gave up all variable remuneration and no stock options have been given to them" and pointed out that its bonus payments in general were down 73 percent on the previous year. Last weekend, top executives at Societe Generale bank agreed to hand back thousands of stock options after the French president warned the perks were "unacceptable" given the aid enjoyed by the bank. And on Thursday, the chairman and the vice president of French energy giant GDF Suez, 35.7-percent state-owned, decided to give up their stock options, the company said, after workers went on strike in protest. The company is turning a profit and is getting no crisis aid from the state but the top executives decided to part with the benefits "in the interests of responsibility," said a GDF Suez spokesman. As the economic crisis bites, sending French unemployment soaring to nearly 2.4 million by the end of February, the government fears that anger in the workforce could spill over into social unrest. Sarkozy's government has sought to channel public resentment by talking tough on executive pay. This week it vowed to oppose a "golden parachute" for the departing boss of troubled auto supplier Valeo, Thierry Morin, who was awarded a multi-million-euro pay-off despite letting the firm sink into the red. But critics say the government is likely to ignore calls to limit executive pay in general and not just in firms helped out by the state. The head of French employers' federation MEDEF, Laurence Parisot, while accepting that firms receiving state aid have special "obligations," has refused to take blanket action to curb bonuses or stock options.
 
NEW YORK (AP) - Commercial banks lost $9.2 billion trading derivatives during the fourth quarter as the credit crisis intensified, according to a report released Friday by the Office of the Comptroller of the Currency. Losses mounted as commercial banks had to take additional write-downs on the value of investments they held, offsetting gains from actual trades. The collapse of Lehman Brothers Holdings Inc. and the near-failure of American International Group Inc. in September touched off one of the worst parts of the credit crisis, which carried over into the final three months of the year. Credit markets froze up, further pressuring the value of many types of investments. Derivatives contracts include interest rate and foreign exchange contracts as well as credit default swaps—a product that is essentially a bet against the performance of other types of investments. Credit default swaps have been at the heart of the credit crisis and a main reason for problems at Lehman and AIG. The total value of derivatives at commercial banks jumped 14 percent to $200.4 trillion as financial firms changed their operating status to commercial banks after the collapse of Lehman in an effort to stay in business. Among those changing their status were investment banking giants Goldman Sachs Group Inc. and Morgan Stanley. For the full year, commercial banks recorded their first-ever industrywide loss on derivatives trading, losing $836 million in 2008, compared with revenues of $5.49 billion in 2007, according to the OCC.
 

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