Pam and Russ Martens — Wall Street Banks Sued Again for Conspiring to Control a Market

As summer draws to a close and the Wall Street titans enjoy the last of their lazy long weekends in the Hamptons, summering next door to the army of lawyers that keep them out of jail, it’s a curious time to be reading about a major new lawsuit that has the potential to shake Wall Streeters right down to their Gucci loafers. The charges include conspiracy to restrain trade in violation of the Sherman Act and unjust enrichment in a $1.7 trillion market.

Since the Senate hearings of the early 1930s, which examined the Wall Street practices and conspiracies that led to the 1929-1932 stock market collapse and Great Depression, there have been rumblings that Wall Street’s system for lending stock for traders to short is a viper’s nest of ripoffs. Now two major law firms, Quinn Emanuel Urquhart & Sullivan and Cohen Milstein are suing six of the largest Wall Street banks, alleging that they illegally colluded in this market. The defendants are the usual suspects: JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Credit Suisse, UBS and their stock lending units. (The only surprise here is that Citigroup is not named.)...

Wall Street On Parade
Wall Street Banks Sued Again for Conspiring to Control a Market
Pam Martens and Russ Martens

Mark Karlin — The Major Reason There Will Be No War With Russia: They Are Rasputin Capitalists Now

All this talk of a new cold war is just a lot of political blather coming out of DC due to the re-emergence of the neocons.

The reality is that there will be no war with the Russian Federation because Russia is now a raffish capitalist nation. 

Wall Street not on board with President Obama and sanctions.

BuzzFlash
The Major Reason There Will Be No War With Russia: They Are Rasputin Capitalists Now
Mark Karlin, Editor Of Buzzflash At Truthout
(h/t Yves Smith at Naked Capitalism)

Incoming Vice-Chairman of Morgan Stanley, Gary Kaminsky, doesn't seem to know a whole lot about anything

Gary Kaminsky is the incoming Vice-Chairman of wealth management at Morgan Stanley.

In this interview he states:

"Interest rates will have to go up at some point."

Yes, when the Fed raises them, Gary.

"The Fed's actions have penalized savers."

What about "savers" in the stock market? What about debtors? It has helped them.

"Those that follow the rules are being penalized."

What rules? Isn't buying stocks when interest rates are falling a rule? Isn't refinancing your home when interest rates are falling a rule? (Or good advice, at least.)

"Nobody knows when rates are going to rise. The Fed has had an impact."

I know, Gary. Rates will rise when the Fed raises them, just like you mentioned: "the Fed has an impact."

"I don't know when. I don't think anybody knows."

Yes, I know, Gary.

"Rates are artificially low." (A Peter Schiff line if I ever heard one.)

On the contrary, zero-percent is the norm. High rates are artificial.

The next Vice-Chairman of Morgan Stanley, who doesn't seem to know much of anything when it comes to the markets.

Impact investing — Socially responsible investing not just for the wealthy

SANTA MONICA, Calif. (MarketWatch) — Good for you, Morgan Stanley Smith Barney! You are paving the way for Wall Street to get into the impact investing space.

By launching your Investing with Impact Platform, you can change the world — literally.

By targeting risk-adjusted financial returns as well as positive environmental and social impact, you are telling investors they can do well and do good at the same time. The idea, I know, is to help clients align their financial goals and their personal values, and by empowering your financial advisers with a broad range of investment options you are taking the lead on a whole new investment class.

As you readily admit, the concept of integrating social and environmental impact into investment decisions is not new, but its growing importance has led to greater opportunities for investors; nearly one in eight dollars under professional management in the U.S. — or about $3.07 trillion — follows investment strategies that consider corporate responsibility and societal concerns.

Indeed, a focused effort to meet investors’ desire for investment opportunities that center on positive social and environmental impact without sacrificing financial performance potential has been a program in waiting. It’s high-time an institution such as yours has stepped up to fill this void.

Read the rest at MarketWatch | Thomas Kostigen's Impact Investor
Morgan Stanley offers impact investing for masses
Thomas Kostigen
(h/t Scott Fullwiler via Twitter)

Morgan Stanley Report on the European Debt System

Morgan Stanley, European Economics and Strategy, A Panorama of the European Debt System at Scribd

(h/t Zero Hedge)

A peek behind the veil.