Bank of America exec loses millions after court says you can't moon your boss

Lol, Sometimes, it just pays to be meek.

You almost have to admire Jason Selch.

Back in 2005, Selch ended a meeting with his bosses at Bank of America by pulling down his pants and mooning them.

Most of us would, at the very least, understand that this would be not just the end of the meeting but the end of our job. You can get away with a lot of things in corporate America, but mooning your boss isn't one of them.

The self-confidence of Selch, however, is made of sterner stuff than that. Selch not only thought he shouldn't be fired. He took Bank of America to court when they fired him for the mooning.

Selch had been a Chicago-based employee at Wanger Asset Management for more than decade when it merged with Columbia Asset Management, a subsidiary of Bank of America, in 2005.

As so often happens in these Wall Street mergers, some of the employees of Wanger weren't happy with the way the new bosses planned

Arizona accuses major bank of defrauding mortgage customers

http://azstarnet.com/article_d385fb20-0a12-11e0-8afb-001cc4c03286.html

Filed suit at the Maricopa County Superior Court?
Now what exactly does that mean?
Criminal charges?
Because anything less makes the AZ Attorney General look inept, since he was the one, that actually termed the banks action as defrauding.



The Arizona Attorney General's Office filed suit today

against Bank of America, accusing it of defrauding its mortgage

customers.

The state contends the bank, the largest servicer of home loans in

Arizona, engaged in practices which led to hundreds of

people being ousted from their homes even as they were being told

their mortgages were being modified. That even included at least

one instance where the homeowner was current on her mortgage and

had never been late with a payment, prosecutors said in a 35-page complaint filed in Maricopa County Superior Court.

Bank of America Settles In Bid-Rigging Case

http://www.courant.com/business/hc-bank-of-america-1208-20101207,0,5363581,print.story

How does it feel to be sold out Connecticut for a mere $600,000,
while Bank of America gets to admit no guilt for illegal practices that would have buried the average Joe for committing?
This wasn't a one time thing for the bank, it was an on going practice for 6 years. It robbed your state as well as your towns and cities of much needed revenue that you were purposely set up to pay.
But because of political pull once again, they get off scot free, while you're still held to the terms of the bogus contract that they set you up to pay.
How far does that $600,000 go in terms of how much those rigged contracts netted for the bank?
Not far is my guess. It's certainly not far enough to actually be able to terminate the original source of the banks indiscretion.
So while your tax revenues are tied up for an untold amount of time paying for a loan that was rigged for the banks and investors to make maximum profit off of Bank of America is off the hook and ready to start a brand new game.



Bank of America will pay $137 million in restitution for its part in a nationwide scheme that included bid rigging and other anti-competitive practices that defrauded state agencies, cities and towns, school districtss and nonprofits in the purchase of municipal bond derivative, Connecticut's attorney general said today.

Bank of America will pay $137 million to settle government accusations that it rigged bids to win business from municipal governments, Connecticut's attorney general said today.

Connecticut is among 20 states that will share $67 million of that total in restitution tied to nationwide anti-competitive practices that defrauded state agencies, cities and towns, school districts and non-profits in the purchase of municipal bond derivatives.

Connecticut's share is expected to be about $600,000, according to Connecticut Attorney General Richard Blumenthal

Bank of America, Connecticut's largest bank, cooperated with authorities in exchange for leniency. In settling, the bank neither admitted or denied the accusations.

The investigation covers practices occurring between 1998 and 2003. In addition to Bank of America, the wide-ranging investigation is targeting several other major financial institutions.

"Bank of America is pleased to put this matter behind it, and

The acceptable practice of lying in the "New World Order"

http://market-ticker.org/

As a good parent, most teach their children not to lie or cheat.
But with the advancement of the "NEW WORLD ORDER" to do so now leaves your child at a great disadvantage for their future earnings.
The top Talent of Wall Street's Investment Banking Scam Artists, seem now to be allowed to spit directly into the face any Judiciary they please with no questions asked.
To be a good parent now, one must instill the lesson of disobedience to not only the courts and laws they govern, but the laws of ethical behavior as well.
Very soon the position of law enforcement as well as the judicial system itself will become nostalgic relics of a long ago forgotten civilised society.
No law at all will be the order of the day
designed and enforced by the "NEW WORLD ORDER"
Dissenters of such order will all be sent back for reprogramming and if said reprogramming fails again, the consequences will lead to a termination of the subject.
Welcome to the mechanisms of the Machine called the
"NEW WORLD ORDER"




When Caught, Just Lie Some More!

Jesus....

Bank of America appears to have improved the state of the art in the creative foreclosure procedures department. I started hearing a few months ago about a sudden and suspicious increase in the number of foreclosures Bank of America was making in its own name. BofA was in effect saying that it owned these loans and had never securitized them. That seemed questionable, since the bulk of Bank of America’s mortgages had been originated by Countrywide, and Countrywide has said in its SEC filings that it securitized 96% of them.

Well that's easy - they never transferred crap. Now, with the payments not being made, they got a rather large problem in that department..... maybe a fatal one to their "wonderful" and "ethical" bank.....

1. Either Countrywide lied in its 2003 SEC filings or the loan was never on Bank of America’s books. Which would you believe?

2. Even though Countrywide appears to have intended to convey the loan to its CWABS 2003-BC6 trust, it appears never to have completed the steps. The assignments are legally void by virtue of being out of time and by being inconsistent with conveyance chain stipulated in the PSA (which would have been from Countrywide through at least one intermediary entity to the trust. So the trust does not now own the note either.

This means the odds are awfully high that Bank of America committed multiple frauds on the court, first on the state court in the foreclosures process, and now on the Federal bankruptcy court.

Naw, they'd never do anything like that, right?

The fun here of course goes to motive. Fraud upon a bankruptcy (and state) court is no small thing. It's one thing to "robosign" something that is technically correct but expensive to process correctly.

It's quite another to claim you own something when you don't - there the motive has to be that you'd get REALLY SERIOUSLY reamed if the truth were to come out.

Like, perhaps, that you still have all those notes in your files and never transferred any of them?

Well that could be a problem. In fact, it could be a really serious problem, because in this case the MBS holders bought nothing, you were paid in full, you committed fraud upon the MBS holders, and oh, incidentally, since you're the same person on both ends of the transaction now we have really big problems because the entire "arms length" thing goes up in smoke too, and that's one of the requirements to get "holder in due course" status.

How bad could this be? It could be very bad. It could be in aggregate hundreds of billions of dollars of notes that are - surprise-surprise - really owned by Bank of America (cum-Countrywide) and the losses thereupon could land on them, instead of on the MBS holders.

There is more than enough there to blow Bank of America (and all the other banks that pulled this crap) to well beyond the orbit of Mars - in tiny little pieces.

There also is enough (if we had an honest judicial system) to bring criminal and civil fraud and racketeering charges against literally everyone involved, since these acts would be hard evidence (if not proof) that the original acts were deficient and this is nothing more than an attempt to cover it up.

If you're curious as to why there are rumors floating around about an attempt to pass an ex-post-facto law that is clearly unconstitutional on its face, you shouldn't wonder why they'd try that any more.

This needs to be forced into the open now and both criminal and civil sanction applied to each and every act of deception and fraud that is found.

STOP ARGUING OVER THE "FREE HOUSE" CRAP. IT IS QUITE APPARENT THAT THERE ARE LITERALLY MILLIONS OF INSTANCES OF FRAUD COMMITTED BY THESE INSTITUTIONS AND NOT ONE HAS BEEN INVESTIGATED AND PROSECUTED AS SUCH.

STOP THE LOOTING AND START PROSECUTING - NOW!

PS: I wonder if this is an example of what Greenie was talking about?

Bank of America Asks Court to Dismiss Homeowners' Racketeering Lawsuit

http://www.bloomberg.com/news/2010-11-11/bank-of-america-asks-court-to-dismiss-homeowners-racketeering-lawsuit.html

The weasels working every angle they can to make sure the RAPE of "the rule of law" is dismissed.

Bank of America Corp., the biggest U.S. lender, asked a federal judge to throw out a lawsuit brought by foreclosed homeowners who accuse it of racketeering.

Dwayne Ransom Davis and Melisa Davis sued last month in Indianapolis, claiming Bank of America “routinely” submitted perjured affidavits to support foreclosures. They lost their Knightstown, Indiana, home last year.

The Charlotte, North Carolina-based bank, in papers filed yesterday with U.S. District Judge Jane Magnus-Stinson, said the Davises were improperly using a federal court to attack a state court proceeding and hadn’t shown they were injured.

Former Va. AG on Bank of America foreclosure legal team

http://finance.yahoo.com/news/Former-Va-AG-on-Bank-of-rb-1584071280.html?x=0



Bank of America (NYSE:BAC - News) is bringing in the former Attorney General of Virginia as well as law firms with deep Washington experience to help defend against a probe by U.S. states into its foreclosure practices.

Richard Cullen, chairman of the McGuireWoods law firm and Virginia attorney general from 1997-1998, is one of the lawyers representing the nation's largest mortgage servicer. Cullen has already been communicating with the offices of various state attorneys general, according to a source familiar with the investigation.

Bank of America Finds Foreclosure Mistakes: Report

http://www.cnbc.com/id/39826960

Now which lack of signatures would that be?
On the title transfers? Oh that right, it can't on those since they failed to assign them to anything but blank.
It makes them easy to swap back and forth that way.
No messy paper work to state who actually owns them or holds responsibility for them.
No tax quota to compensate for there,
Just plain old fraud and embezzlement, all the way around,
To the MBS Investor, as well as the homeowner for services paid for that were never received, and right down to the counties we live in for the theft of the recording fees that they were entitled to.
We call that "White Collar Crime" where I come from,
not a mistake.



Bank of America acknowledged some mistakes in foreclosure files as it begins to resubmit documents in 102,000 cases, the Wall Street Journal said.

The bank found errors in 10 to 25 out of the first several hundred foreclosure it examined starting last Monday, the newspaper said.

The problems included improper paperwork, lack of signatures and missing files, as well as cases in which information about the property and payment history being unmatched, the Journal said

The bank found the errors while preparing less than 1 percent of the first foreclosure files that it intends to resubmit to the courts in 23 states, the Journal said.

Bank of America Sued in Class Action Over Flouting of Foreclosure Rules

http://www.law.com/jsp/article.jsp?id=1202473801558&Bank_of_America_Sued_in_Class_Action_Over_Flouting_of_Foreclosure_Rules


Bank of America has been hit with a class action on behalf of homeowners seeking damages for alleged disregard of foreclosure process rules.

The suit, filed Wednesday in federal court in Newark, N.J., accuses Bank of America and two subsidiaries, LaSalle Bank and BAC Home Loans Servicing, of "an undisciplined rush to seize homes" through "pervasive and willful disregard of knowledge, facts and statutes."

"There's a difference in the fact pattern [among individual cases] but there's pattern and a practice of blatant disregard for process," says Minkove. "Any lawyer who's worth his salt will tell you process matters."

And when judges call them to case management conferences in their foreclosure cases, outside counsel for Bank of America regularly fail to show up, says Friscia. Worse still, New Jersey's judges don't seem to be bothered by such behavior, he says.

"There's a shocking deference given to Bank of America on the part of the judicial system," Friscia says.

The Bastards of banking trying to cover their own ass

http://www.zerohedge.com/article/blackrock-ceo-seeking-partner-buy-35-bofa-stake-charlie-gasparino

George Orwell once said:
In a universe designed by deceit
To tell the truth is an act of Revolution

Rock on with your bad self Tyler, because we're all listening and spreading the word!

A few days ago, we penned The BlackRock - Bank Of America Ownership Catch 22, in which we discussed the incestuous cross-onwership relationship between the two companies. Then we said:

"It is well known that Bank of America owns 34% of BlackRock via a legacy position inherited from Merrill Lynch, arguably the most valuable part of the business. As of today, the stake is worth around $11.5 billion. Yet what may be a little less known is that BlackRock has also returned the favor, and is now the largest holder of Bank of America, owning 5.35% of the outstanding BAC shares, for a total value of $6.6 billion. Does that mean that there is a wash in there somewhere? Who cares. But one thing that certainly is involved, is a massive conflict of interest, especially in the context of litigation. And a big question mark - to claim that BlackRock is willing to impair a nearly $7 billion investment is naive. Instead, due to the incestuous nature of Wall Street, and the cross pollination of MBS holders, is today's action merely a ploy to get some of the more "impacted" parties to promptly settle and eliminate any possible future litigation? PIMCO, for one, and the FRBNY fir another, have the most to lose if the MBS crisis escalates, and if all MBS are unwound. Which means that somehow this is simply another diversion, with the real action taking place somewhere."

The action is indeed "elsewhere" - Charlie Gasparino has just reported that Larry Fink is seeking a partner to buy 35% of Bank of America. What better way to sweep all the problems underneath the rug than to just buy them all up...

More from Fox Business:

Bank of America Woes Haven’t Put Paulson Trade in the Red

http://blogs.forbes.com/teribuhl/2010/10/19/bank-of-america-woes-havent-put-paulson-trade-in-the-red/

No John's not worried, the Federal Reserve is going to rescue the elite at the expense of the taxpayer.
And in the mean time the White House stalls until the end of the year reviewing if there is really even a problem.
More bogus bullshit by the pukes in power.

FORBES billionaire John Paulson, of hedge fund Paulson & Co, took a big hit on monthly returns in his Recovery Fund today. Why? Because the Street’s fear of billions in mortgage loans being forced back onto Bank of America smacked the North Carolina bank in the face today after the NY Fed announced it was joining bondholders in a much speculated lawsuit. Paulson holds a over 167 million shares in BofA as a favored long trade he set up over a year ago.

What Paulson and Tepper are likely really interested in is what role with the Fed takes to buy any toxic loans banks like BofA might be forced to ‘put back’ on their books. You see analysts think the government doesn’t want banks to be forced to raise more capital, which could happen if they have to take on billions in garbage mortgage loans. They want the banks to EARN through their problems. As a result they are likely already negotiating in backroom conversations how the Fed will engineer their own buy of whatever troubled ‘put back’ loans our consumer banks get hit with.

FDIC Sued by Bank of America Over $1.75 Billion Taylor Bean Mortgage Loss

http://www.bloomberg.com/news/2010-10-20/bank-of-america-sues-fdic-over-taylor-bean-mortgage-s-1-75-billion-losses.html

Oh crap
The FDIC is broke already
TARP III soon to be a reality if BoA wins this one.
Does this whole situation unraveling now seem like a childhood game of
"Hot Potato" to anyone else?

The Federal Insurance Deposit Corp. was sued by Bank of America Corp. over $1.75 billion in investor losses stemming from an alleged fraud by failed lender Taylor Bean & Whitaker Mortgage Corp.

The FDIC has denied claims by Bank of America against Colonial Bank and another financial institution in receivership that bought fake mortgages from a Taylor Bean unit, Ocala Funding LLC, according to a complaint filed Oct. 1 in federal court in Washington. Bank of America was the trustee for notes issued by Ocala Funding, according to the complaint.

No, They Didn't Sell The Same Thing Twice....Oh wait they did

http://market-ticker.org/akcs-www?post=169631

How many times can you lick a Toosie-Pop until you get to the center?

This is so unbelievable lol. Major blowback from the shit hitting the fan I'd say.
It would seem, that Bank of America needs some documentation from Freddie Mac and Freddie Mac ain't giving it up, even though they've given it up 4 other times before for a different matter
Their reasoning is:
1)It would cost 10 million dollars to do so and it would be on the taxpayers tab.......like now their worried! lol
2)Confidential disclosure problems.
But the courts response was 'For attorney's eyes only".. get er done

The court has said 3 times to give it up.
Freddie has not complied.
And seemingly refusing to do so.
Something tells me there are forged documents in those other 4 cases that Freddie did give documentation to.
Did they charge the taxpayer the 40 million for forgery?
Because I'm pretty sure we could have gotten it cheaper off the street.

And as long-time foreclosure investigator Nye Lavalle writes:

On thousands of occasions I stated to regulators, CEOS, banks, Fannie and Freddie that the practices of the banks were that they were double and multi-pledging assets and pledging paid off and refinance notes to securitizations. This is something April, Max and I have discussed for years now. Now, they come and admit that each of my allegations were true Without analyzing the deal, as complex as they are, you WILL NEVER KNOW IF THE FORECLOSING PARTY HAS “ANY” RIGHT TO FORECLOSE!!!


The motives I identified for the “Blank Endorsements” and missing assignments and "pre-notarized" “Blank Assignments” and “Blank Allonges” that “were placed into the “custodial/collateral” files were to be able to:


Multi-pledge collateral (Notes) so as to cook the books ....
http://www.washingtonsblog.com/

Look At The Market Reaction....

http://market-ticker.org/akcs-www?post=169169


Yeah please do look at market reaction to Grayson's letter to the head of the FBI,
But I want to draw your attention back to this
Laundering drug money......NO CRIMINAL CHARGE for either Bank Of America or Wells Fargo.
More Federal crimes just over looked, because it was the "Bankers"
And if they do get busted, it ONLY rates a fine!
And if it was YOU busted for it?......a Federal prison sentence!


Heh, you know, it's not like it's the first time they've done something like this. What's money-laundering when it comes to Iran? We've reported on that here at The Ticker. What did it get 'em? A fine. Then there's the long and sordid story of Birmingham Alabama, which hasn't even drawn a fine for the banks involved - even though that case produced multiple prison terms for the county officials.

Or we could talk about enabling criminal drug gangs in Mexico to run their money around - and buy planes with it. The penalty? Nothing. No big US bank has ever been indicted for violating any of these federal laws.

And now that there's a reaction in the market to yet another exposition of rank lawlessness by the "banking cartel",

Bank of America Re-Remics Cut Mortgage Debt as Basel Rules Loom

http://www.bloomberg.com/news/2010-10-14/bank-of-america-re-remics-reduce-mortgage-debt-as-basel-capital-rules-loom.html

Oh now is a nice time to try to cover your ass Bank of America.
What would that extra layer of protection actually be,assigning the titles
instead of leaving them blank?
And just exactly how did you fix all of those blanks, that your once again trying to pass off?
It would behoove you at this point to just swallow your own debt rather than furthering the criminal charges against you!


Bank of America Corp., seeking to reduce risk and meet new capital standards, upgraded billions of dollars of distressed mortgage bonds by repackaging them into new securities using a variation of a Wall Street technique that failed during the credit crisis.

The transactions, known as re-remics, are designed to add a layer of protection to residential mortgage-backed securities that sustained losses, enabling them to regain investment-grade ratings. The strategy helped the bank pare its RMBS holdings by $5.2 billion in the second quarter, or about 15 percent, according to a company filing

‘Scrubbing’ Balance Sheets

‘Toxic Waste’


Financial Engineering

In a re-remic, the senior mortgage bonds that have lost their investment-grade ratings are placed in a new trust, which issues a new set of senior and junior securities, with the higher-ranking bonds receiving first rights to cash flows from the original home loans. The junior securities in the re-remics provide an additional layer of protection to the cushion created by subordinated bonds from the original securitization. They’re second in line to bear any losses, which means more senior investors wouldn’t suffer any damage unless the junior securities were wiped out.

Bank Of America halts foreclosure in all 50 states

http://market-ticker.org/akcs-www?post=168584

Containment has been breeched Captain.
and the ship is going down.

Think Titanic, because that's how big and bad this is.

Gingerly, Retailers Try to Pass Along Higher Costs

http://online.wsj.com/article/SB10001424052748704029304575526331692863238.html?mod=WSJ_hpp_sections_business

Oh look raising the price of everything all at the same time to see if already stretched households will pay more for it.
Don't do it people, buy as little as you can possibly get away with.
Refuse to participate.
The FED is watching and ready to stimulate once the price gouging really starts to hurt and it will because it's everything at once.
And gingerly means lightly or sparingly.
All at once is a landslide and it's meant to bury you.




Companies that sell consumer mainstays from beer to dresses, from steaks to tires, are rolling out price increases in a collective test of America's economic strength.

Coffee retailer Starbucks Corp., clothing firm Jones Apparel Group Inc., and Goodyear Tire & Rubber Co. are among the many companies wrestling with higher raw-materials costs and looking to pass along some of those costs to customers.

.The ability of companies to sustain such price increases may sway how the Federal Reserve views the health of the economy, and potentially figure in its decision on whether another big round of stimulus is needed. The country's low rate of inflation was cited by the Fed last month as a main reason the central bank is considering further steps to juice the economy.

WSJ: Bank of America Suspends Foreclosures

http://online.wsj.com/article/SB10001424052748703859204575526491393115712.html?mod=WSJ_hpp_LEFTWhatsNewsCollection

Nancy Jean Connolly hit the nail right on the head when she described in layman's terms the con that the mortgage banks have been pulling right before our very eyes.
The Grand Illusion, so to speak
Making money hand over fist,3 separate ways and once again laughing all the way to the bank, while they do it.
Well You know what they say
He who laughs last, laughs best.
It's your turn to laugh
Make sure you take it.

2 hours ago..nancy jean connolly wrote:
.

the housing market will benefit from stopping the theft of house by unchecked banks. Chase has been buying homes from itself in unadvertised sales for $100 and flipping them for immediate six-figure profits, plus they used mtg insurance for the "loss" on the house from the family they tossed out. and then they sue for the 'deficiency' of fees, penalties and interest. they get the house to resell, the mortgage amount from the insurer and then they...sue.
A three-fer. Homeowners are fleeced three ways.
Delighted to see the states face down the scam. Shame on the impotent Geithner/Phyllis Caldwell team at Treasury who blandly praise their own efforts. The states see things clearly and once corrected, any defaults will be resolved.
The vultures paying half price for houses may be less smug when the prop tax bills do not support the schools, fore, police etc. they expect. Good luck with that.

APNewsBreak: BofA delays foreclosures in 23 states

http://finance.yahoo.com/news/APNewsBreak-BofA-delays-apf-3343207402.html?x=0&sec=topStories&pos=main&asset=&ccode=

And so, now Bank of America stops their foreclosure is 23 states.
And it's commonly know that MER was standard practice.
So all those millions of foreclosures are now null and void.
Whether your in foreclosure or not if you have bought a house or refinanced your house your Title to, is now involved, unless it's mortgage free.
This has nothing to do with whether you can make the payments or not.
It has to do with the bank you pay your payments to, they don't own your title to the property. They sold it in a CDO and millions of pensions cet... around the world bought them. So the bank doesn't legally own it and what you don't own ,you can't take. It's against the law and punishable by imprisonment.
Freddie and Frannie are also part of this. The government has guaranteed their loans and now the banks are going to be forced to take them back.
The FED is filled to capacity with this very same problem.

A lawyer for the homeowner in the case, James O'Connor of Fitchburg, Mass., said such problems are rampant throughout the industry.

"We have had thousands, maybe hundreds of thousands of foreclosures around the country by entities that did not have the right to foreclose," O'Connor said.

The disclosure comes two days after JPMorgan said it would temporarily stop foreclosing on more than 50,000 homes so it could review documents that might contain errors. Last week, GMAC halted certain evictions and sales of foreclosed homes in 23 states to review those cases after finding procedural errors in some foreclosure affidavits.

Consumer advocates say the problems are widespread across the lending industry.

"The general level of sloppiness is pervasive around the industry," said Diane Thompson, counsel at the National Consumer Law Center.

Bank Profits Depend on Debt-Writedown ‘Abomination’ in Forecast

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a3Eg4vzAbneA

First Repo 105, now Statement 159
What part of the banks are actually real?
The part that "WE" bailed out?


Statement 159

In the first quarter, the four biggest U.S. lenders -- Bank of America, JPMorgan Chase & Co., Citigroup and Wells Fargo & Co. -- produced combined profit of $13.5 billion, the most since the second quarter of 2007. That figure probably fell by 28 percent in the second quarter, based on a Bloomberg survey of analysts’ estimates. The banks are scheduled to announce results over the next two weeks, led by JPMorgan on July 15.

The second-quarter results may include gains taken under a U.S. accounting rule known as Statement 159, adopted by the Financial Accounting Standards Board in 2007, which allows banks to book profits when the value of their bonds falls from par. The rule expanded the daily marking of banks’ trading assets to their liabilities, under the theory that a profit would be realized if the debt were bought back at a discount.

Accounting ‘Abomination’

In practice, it’s an accounting “abomination” because fluctuations in the value of the debt don’t change the amount the banks owe, said Chris Kotowski, an analyst at Oppenheimer & Co. in New York.

“Just because Morgan’s credit spreads widened out this quarter doesn’t mean that their ultimate interest and principal payments changed one iota,” Kotowski said. “The market will back it out, both on the upside and the downside.”

4 Big Banks Score Perfect 61-Day Run

http://www.nytimes.com/2010/05/12/business/12bank.html?src=mv

Wow what are the odds of this happening to 1 bank let alone 4.
Lol, glad you asked because Karl has done a little of that odd figuring for us.
And his findings are rather odd to say the least, and throw an enormous spotlight
on what it takes to beat those odds.

http://market-ticker.denninger.net/archives/2305-More-On-Goldmans-Perfect-Record.html

It is the Wall Street equivalent of a perfect game of baseball — 27 up, 27 down, the final score measured in millions of dollars a day.

Despite the running unease in world markets, four giants of American finance managed to make money from trading every single day during the first three months of the year.

Their remarkable 61-day streak is one for the record books. Perfect trading quarters on Wall Street are about as rare as perfect games in Major League Baseball. On Sunday, Dallas Braden of the Oakland Athletics pitched what was only the 19th perfect game in baseball history.

But Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase & Company produced the equivalent of four perfect games during the first quarter. Each one finished the period without losing money for even one day.