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Posts Tagged ‘Eric Schneiderman suit against Barclays’

Buy Used Car from Barclays, BNP Paribas, GM, et al?

Posted by Larry Doyle on July 1st, 2014 8:08 AM |

In light of recent developments I am compelled to wonder why anybody might care to deal with the following organizations:

1. Barclays: New York Attorney General Eric Schneiderman lays out detailed allegations showing the bank to have engaged in a ‘pernicious fraud’ and lied to customers regarding the operation of its equity dark pool. In the process, Barclays allowed high frequency trading firms to act in a predatory fashion against other clients.

2. BNP Paribas: as Reuters details:

The bank essentially functioned as the “central bank for the government of Sudan” (LD’s edit: Sudan has long been regarded as a state sponsor of terrorism), concealed its tracks and failed to cooperate when first contacted by law enforcement, U.S. authorities said.

(more…)






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