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Posts Tagged ‘Eric Schneiderman’

Letter to Editorial Board of The New York Times: “Real Cause Is Regulatory Capture/Corruption”

Posted by Larry Doyle on June 30th, 2014 9:56 AM |

I sent a copy of this letter to the members of the Editorial Board of The New York Times this morning. 

To the Editorial Board of The New York Times

Re: Sunday Editorial, The Dark Pool Iceberg: Lawsuit Against Barclays Shows Need for More Scrutiny

Dear Mr. Rosenthal, et al,

I was pleased to read your editorial in this past Sunday’s New York Times regarding the recent lawsuit brought by New York Attorney General Eric Schneiderman against Barclays for engaging in a ‘pernicious fraud’ within its equity division and specifically in the operation of its dark pool.

The allegations made by AG Schneiderman are supported by information provided by whistleblowers who had previously worked at Barclays. The outrage by investors and the public should be justifiably long and loud. The erosion of trust and confidence in Wall Street broadly speaking will continue to undermine our economy. We all suffer in the process. (more…)

Barclays Dark Pool Lawsuit and the ‘In Bed with Wall Street Conspiracy’

Posted by Larry Doyle on June 27th, 2014 9:49 AM |

The lawsuit filed by New York Attorney General Eric Schneiderman against Barclays for ‘pernicious fraud’ in the operation of its dark pool sent shock waves through Wall Street yesterday.

The equity valuations for a number of large Wall Street banks declined significantly under the premise that this lawsuit will impact their own business operations in a negative fashion.

Beyond that, though, many might think serious allegations of lying, blatant misrepresentations, fraud, self-dealing, predatory practices aka high frequency trading, investor abuse, and the like mean one thing: just another day on Wall Street.

Let’s play hardball today and navigate a little deeper. (more…)






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