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Apr 16, 2010

FGC BOLSA - FGC FINANCIAL MARKETS: EX- ANTE VS EX POST GOLMAN SACHS ACCUSATION OF FRAUD.





EX-POST VS EX-ANTE


BY: FERNANDO GUZMÁN CAVERO

CHAPTER I: U.S.A  SEC ACCUSES GOLDMAN SACHS OF FRAUD IN MORTGAGE DEAL

The SEC says Goldman failed to disclose "vital information" that one of its clients, Paulson & Co, helped choose which securities were packaged into the mortgage portfolio. These securities were sold to investors in 2007. The amount of fraud accounts to 1 Billion Dollars.


 CHAPTER II. - SECURITIES & EXCHANGE COMMISSION MISSION



“The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
As more and more first-time investors turn to the markets to help secure their futures, pay for homes, and send children to college, our investor protection mission is more compelling than ever.
As our nation's securities exchanges mature into global for-profit competitors, there is even greater need for sound market regulation. “

CHAPTER III: SEC DISCLAIMER

DID THE SEC AUTORITIES COMPLY WITH ITS MISSION?
This is one of the eldest forms, that regulators whom do not want to be charged as part of any immoral behaviors or being  colluded with thieves; try to avoid its responsibility, SURPRISING INVESTORS WITH A GREAT DISCOVERY

CHAPTER IV:  What is the Question?




The question is  if the SEC is coresponsible for neglicence in this billionare fraud, set-up in 2007?



CHAPTER V:  That is the question

THAT IS THE QUESTION


From the Desk of Nick Nicolaas: Silver/Gold Ratio Reversion 3 by Adam Hamilton. April 16th, 2010


Dear Friends:
Adam Hamilton, follows up for Zeal Intelligence with another SPX essay and this time on "SPX Levitation Act"
Have a great weekend and - - - Stay Tuned!!

Regards,
Nick L. Nicolaas
Nick L. Nicolaas
President & CEO
Mining Interactive Corp.
www.mininginteractive.com
Direct 24/7: +1 (604) 657-4058
Main Office: +1 (604) 569-0800
Fax: +1 (604) 569-0758
Skype: nicknicolaas
nick@mininginteractive.com
Vancouver Stock Exchange Building (1929)
Suite 818 - 475 Howe Street
Vancouver, BC, Canada V6C 2B3

MarketWatch: Finance Daily. April 16th, 2010

MarketWatch
Personal Finance Daily
APRIL 16, 2010

Friday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

On days like this, when one is reminded yet again of the ways big financial-services firms play puppet master with segments of the economy, tangling us all in their twisted strings, that the idea of planning one's own personal finances seems somewhat futile.

Today, the SEC charged Goldman Sachs with fraud, saying the firm allowed a hedge fund, Paulson & Co., to choose which mortgage-backed securities should go into an investment portfolio to be sold to Goldman's clients -- and then the hedge fund shorted those same securities. And Goldman Sachs' clients who invested in that portfolio had no idea of the hedge fund's involvement, according to the SEC.

"After participating in the portfolio selection, Paulson & Co. effectively shorted the ... portfolio it had helped select," MarketWatch's Alistair Barr wrote in his story Friday.

Millions of investors and homeowners and savers are still waiting to recover from the worst financial crisis in decades. I'm not sure the degree to which this particular Goldman deal might have helped contribute to the housing-market meltdown, but you've got to assume it wouldn't help matters if investors were being lied to about the mortgage-backed securities they were buying.

For the other side of this coin, read our Realty Q&A to find out how one couple who did everything right is struggling now to refinance their adjustable-rate mortgage into a fixed-rate loan -- because their home's equity dropped so steeply in the housing crisis.

It just makes you wonder all the more at Lloyd Blankfein's comment in November, when the Goldman CEO said the firm is "doing God's work."

-- Andrea Coombes , Personal Finance editor

Borrower struggles to get fixed-rate loan

Question: My son bought a new home about five years ago with an interest-only, adjustable-rate mortgage and a 6.25% fixed-rate second mortgage. He and his wife both have solid jobs and 700-plus credit scores and they have never missed, or been late, on any of their house payments.
See Realty Q&A.


Housing starts maintain upward trend in March

Fresh data on new construction of U.S. housing units revealed an upward trend in place since the beginning of the year, with an initial report of February weakness revised away.
See story on housing starts.


TAXES

How to avoid giving Uncle Sam a free loan

With April 15 behind you, it's time to breathe a sigh of relief. But if you got a tax refund this year, consider making changes now to avoid giving the government an interest-free loan for until next April.
See TaxWatch.


Tips to ensure you didn't miss any tax breaks

Is it really all over? Hardly. Take a little breather. Now, it's time to focus on three more tax tasks. First, review your 2008 and 2009 tax returns to see if you've made any errors, missed any tax benefits, or overlooked tax savings opportunities. Second, get rid of the old. Third, start planning for the new.
See TaxWatch.


SAVING & INVESTING

Commentary: Don't go long on CD rates now

Falling for the top advertised rates on the longest-duration certificates of deposit would be the Stupid Investment of the Week, likely locking savers into interest rates that look good today but will be poor tomorrow.
See Chuck Jaffe's Stupid Investment of the Week.


Web site's mission: Cut investment fees

A new Web site is crusading against the costs of active mutual-fund management, enabling investors to build an online portfolio of cheaper exchange-traded funds and manage it themselves. Mitch Tuchman, CEO of MarketRiders, talks with Jonathan Burton about the service.
 Watch Video Report.


Goldman charged with fraud over Paulson CDO trade

The Securities and Exchange Commission on Friday charged Goldman Sachs Group Inc. and one of its vice presidents with defrauding investors by misstating and omitting key facts about a financial product related to subprime mortgages.
See story on Goldman charged with fraud over Paulson CDO trade.


Goldman joins SEC's most-wanted list

As part of its widening probe into the collapse of the subprime-mortgage market, the Securities and Exchange Commission took aim Friday at Goldman Sachs, the most profitable bank on Wall Street.
See story on Goldman joins SEC's most-wanted list.


Commentary: What does it mean to make a market?

The smoke around Goldman Sachs Group Inc. is now a four-alarm blaze, but at the heart of the inferno is an ill-defined issue crucial to Wall Street: What does it mean to make a market?
See David Weidner's Writing on the Wall.


Commentary: Fried-chicken indicator isn't bullish

People who think our economic troubles are over should eat more Popeyes fried chicken. "America's Back!" screams the latest cover of Newsweek magazine in red, white and blue. "The remarkable tale of our economic turnaround."
See Al Lewis.


Commentary: The sentiment picture improved this week

The verdict is in, and the bulls are smiling. I reported on Tuesday that we would learn a lot about the stock market's underlying health by how it would perform for the rest of the week.
See Mark Hulbert.


Investor groups take action in wake of Citizens United ruling

Laura Shaffer, director of shareholder activities at the Nathan Cummings Foundation, is hoping the second time's the charm when it comes to the grantmaker's efforts to have oil refiner, Valero Energy Corp., disclose its contributions to trade associations.
See story on shareholder activism.


JOBS

Jobless workers to get extended benefits

President Barack Obama late Thursday signed an $18 billion bill to extend jobless benefits to the long-term unemployed for another two months.
See story on jobless workers to get extended benefits.


Tech companies ramp up hiring

The technology industry is accelerating its recovery from the recession with surging earnings that have spurred companies to sharply ramp up their hiring. Stacey Delo talks to Don Clark and Kara Swisher about the trend. Plus, the buoy goes high-tech.
 Watch Digits.


ECONOMY & POLITICS

Consumer sentiment drops in April

As economic worries persist, U.S. consumer sentiment dropped in early April, according to media reports on Friday of the Reuters/University of Michigan index.
See story on consumer sentiment drops in April.

CNBC : Evening Brief. April 16th, 2010

LATEST STORIES


»click here to see the latest top stories from CNBC.com

Tonight 7p ET
CNBC 360 A CNBC Special Report
'Fraud On The Street?: The Case Against Goldman Sachs, LIVE tonight 7p ET. CNBC's Erin Burnett, Simon Hobbs, David Faber and more report on the impact on the Wall Street giant, financial sector and investors.
»GS After Hours Quote


LATEST VIDEO

SEC's Khuzami on Goldman
SEC's Robert Khuzami discusses the fraud charges brought by the SEC against Goldman Sachs.
» Watch Video 
  

RTTNews: Evening Market Wrap. April 16th, 2010

Evening Market Wrap Fri Apr 16 17:01 2010 

Commentary

Apr 16, 2010 Stocks Fall Sharply As SEC Charges Goldman Sachs With Fraud - U.S. Commentary Stocks saw substantial weakness on Friday, as the Securities and Exchange Commission brought fraud charges against Wall Street giant Goldman Sachs (GS), whipping up a storm of uncertainty in the markets. The major averages all closed sharply lower on the day, snapping a six-session winning streak. Full Article

Economic News

Apr 16, 2010 Housing Starts Rise To Highest Rate In Well Over A YearNew residential construction saw a modest increase in the month of March, according to a report released by the Commerce Department on Friday, with the report also showing a substantial upward revision to the data for the month of February. The report showed that housing starts rose by 1.6 percent to an annual rate of 626,000 in March from the revised February estimate of 616,000. Full Article

Corporate News

Apr 16, 2010 Goldman Sachs Charged With Fraud By SECThe Securities and Exchange Commission announced Friday that it has charged Goldman Sachs (GS) and one of its vice presidents with fraud. According to the SEC, Goldman Sachs defrauded investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter. Full Article
Apr 16, 2010 Genuine Parts Q1 Profit Rises, Tops EstimateAutomotive and industrial replacement parts maker Genuine Parts Company (GPC) on Friday reported a 13% increase in first quarter net profit, which came in above Street view, helped primarily by improved net sales from almost all businesses. For the first quarter, the Atlanta, Georgia-based company's net earnings were $100.61 million or $0.63 per share. Full Article
Apr 16, 2010 First Horizon National Q1 Loss Narrows On Lower Loan-loss ProvisionsFinancial services provider First Horizon National Corp. (FHN) reported Friday a narrower loss for the first quarter, reflecting continued decline in loan-loss provisions, despite a 28% drop in revenues. The company said its overall credit quality improvement in the loan portfolio was due to its efforts to wind down higher-risk non-strategic portfolios. Full Article
Apr 16, 2010 Bank Of America Posts $3.2 Bln Profit In Q1Financial services firm Bank of America Corp. (BAC) reported Friday a profit of $3.2 billion in its first quarter, after posting a loss in the preceding fourth quarter, on improvement in credit quality and strong trading. However, the profit was lower than prior year, reflecting decline in revenues. Full Article
Apr 16, 2010 Gannett Q1 Profit Surges, Tops ViewNewspaper publisher Gannett Co. (GCI) on Friday posted a sharp growth in its first-quarter profit, as Winter Olympic Games boosted advertising demand. The results were also benefited by higher operating income as well as significantly lower costs. On a per share basis, non-GAAP earnings doubled and topped Street view. Full Article
Apr 16, 2010 Keegan Resources Promotes Maurice Tagami To President, CEONatural resource company Keegan Resources, Inc. (KGN, KGN.TO) announced Friday the promotion of Maurice Tagami to president and chief executive officer of the company. Tagami, who was most recently serving as the vice president of project development and as a director, succeeds Dan McCoy, who resigned from the positions. Full Article
Apr 16, 2010 Imperial Tobacco To Review OFT's Decision To Fine GBP 112.3 MlnTobacco manufacturer Imperial Tobacco Group Plc (IMT.L) on Friday announced that it is disappointed by the decision of UK consumer and competition authority Office of Fair Trading, or OFT, to impose a fine of GBP 112.3 million on the company for allegedly restricting competition. Full Article
Apr 16, 2010 General Electric Q1 Profit Falls, Yet Tops ViewDiversified conglomerate General Electric Co. (GE) on Friday posted a decline in first-quarter profit, largely hurt by downtrend in earnings at GE Capital. On a per share basis, earnings from continuing operations dropped 19%, but topped Street view. Further, the company said its "2010 framework remains achievable with potential for upside," and expects to grow earnings and dividends in 2011 and beyond. Full Article
Apr 16, 2010 Mattel Swings To Profit In Q1Toys maker Mattel Inc. (MAT) on Friday posted a profit for the first quarter, propelled by strong sales of its core brands and newest properties such as World Wrestling Entertainment and Toy Story. The El Segundo, California-based company's first-quarter net income was $24.8 million or $0.07 per share. Full Article
Apr 16, 2010 Sony Ericsson Swings To Profit In Q1Sony Ericsson Mobile Communications AB Friday reported a profit in its first quarter compared to prior-year's loss, reflecting positive impact of higher-end phones and cost reduction efforts, despite a 19% drop in sales. The company, a 50/50 joint venture between Sony Corp. (SNE) and LM Ericsson Telephone Co. (ERIC), said its units sales fell 28%. Full Article
Apr 16, 2010 Aggreko Says Q1 Revenues Up 5% On Headline BasisTemporary power and temperature control supplier Aggreko Plc (AGK.L), Friday, in its interim management statement for the three months to March 31, 2010, said its revenues for the period increased by 5% on a headline basis, and by 8% at constant currency, excluding pass-through fuel. The company added that trading for the period was in line with its expectations. Full Article
Apr 16, 2010 Syndicate Asset Management Names Neil Hale Finance ChiefSyndicate Asset Management plc (SAM.L) Friday said the company appointed Neil Hale as Chief Financial Officer and a Director, with immediate effect. Hale, 41, is a chartered accountant with more than 20 years of experience in the accountancy and financial services sector. Full Article

Political News

Apr 16, 2010 Hatch Meets With Geithner To Discuss Financial ReformWith the cloud of the SEC's suit against Goldman Sachs (GS) hanging overhead and the Senate's vote on financial regulatory reform looming, Senator Orrin Hatch, R-Utah, met with Treasury Secretary Tim Geithner Friday to discuss financial reform. Hatch said he met with Geithner because of the "magnitude" of the vote coming up on reform. Full Article
Apr 16, 2010 Boehner Uses SEC's Charges Against Goldman To Attack ObamaHouse Republican Leader John Boehner, R-Ohio, released a statement Friday in which he used news that the Securities and Exchange Commission has filed fraud charges against Goldman Sachs to attack President Barack Obama. "These are very serious charges against a key supporter of President Obama's bill to create a permanent Wall Street bailout fund," Boehner said. Full Article
Apr 16, 2010 Poll Shows Reid Trailing By 10 Points In Nevada Senate RaceA Mason-Dixon poll released Friday showed that Senate Majority Leader Harry Reid, D-Nev., still faces an uphill battle in his re-election bid. According to the poll, commissioned by the Las Vegas Review-Journal, 37% of Nevada voters support Reid, while 47% support Republican Sue Lowden. Full Article
Apr 16, 2010 Obama Issues Order Allowing Gay And Lesbian Partners Hospital Visitation RightsPresident Barack Obama issued a memorandum Thursday that requires hospitals that accept Medicare or Medicaid funds to grant visitation rights to gay and lesbian partners. "There are few moments in our lives that call for greater compassion and companionship than when a loved one is admitted to the hospital," Obama said. Full Article
Apr 16, 2010 Obama Pledges To Enrich America's Legacy Of ConservationPresident Barack Obama said Friday that he hopes to build on the legacy of President Theodore Roosevelt to enrich the country's commitment to conservation. "I feel an abiding bond with the land that is the United States of

NFA: Fines Chicago Firm Brewer Futures Group LLC and its Principal $ 100,000. April 16th, 2010



For Immediate Release
For More Information Contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org
NFA fines Chicago firm Brewer Futures Group LLC and its principal $100,000

April 16, Chicago - National Futures Association (NFA) has fined Brewer Futures Group LLC (BFG) and its principal, Steven J. Brewer $100,000. BFG is an Introducing Broker (IB) located in Chicago, Illinois. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in June 2009 and a settlement offer submitted by BFG, Brewer and Cheryl A. Arts, also a principal of BFG. In submitting the settlement offer, the respondents neither admitted nor denied the allegations against them.
The Complaint charged that BFG failed in the maintenance of required books and records and required capital requirements. Specifically, the Complaint alleged that BFG was undercapitalized on several occasions and engaged in activities crafted to give the impression that it was in compliance with its capital requirements at all times when that was not the case. The Complaint also charged that BFG, Brewer and Arts failed to adequately supervise the firm's financial compliance and recordkeeping functions.
Along with the $100,000 fine, BFG and any other IBs of which Brewer is principal will operate only with a valid guarantee agreement. Additionally, no NFA Member of which Brewer is principal will be registered as a Futures Commission Merchant. Arts offered to withdraw as a principal of BFG and to never be an NFA Member or a principal of an NFA Member in the future. Arts must also pay a fine of $5,000.
The complete text of the Complaint, respondents' Answer and Decision can be found on NFA's website (www.nfa.futures.org).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.

REUTERS: Daily Investor Update -DAI: Goldman Sachs charged with fraud by SEC, April 16th 2010




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Good evening Fernando, FRI 16 Apr 2010 
Goldman Sachs charged with fraud by SEC
Market slides on Goldman charges, earnings
Goldman brand to be biggest casualty of suit: analysts
Obama to insist on derivatives curbs in reform bill
BofA profit beats expectations, revenue lower
Google shares slide amid Schmidt speculation
Home construction rises, consumer morale ebbs
Bair: Regulators clashed ahead of WaMu crash
China still sees managed floating FX system: Hu
Fed should exit easy policy "deliberately": Hoenig


Goldman Sachs charged with fraud by SEC
April 16, 2010 04:30 PM ET
NEW YORK (Reuters) - Goldman Sachs Group Inc was charged with fraud by the U.S. Securities and Exchange Commission over its marketing of a subprime mortgage product designed to fail.

Full Article
Market slides on Goldman charges, earnings
April 16, 2010 04:31 PM ET
NEW YORK (Reuters) - Financial stocks plunged on Friday in the heaviest trading this year, dramatically ending Wall Street's six-day winning streak as fraud charges against Goldman Sachs and disappointing earnings sent investors running for cover.

Full Article
Goldman brand to be biggest casualty of suit: analysts
April 16, 2010 04:11 PM ET
BANGALORE (Reuters) - Goldman Sachs Inc may have to cough up a big fine to settle the civil lawsuit brought by U.S. regulators and the issue poses the biggest threat to the reputation of the influential bank, analysts said.

Full Article
Obama to insist on derivatives curbs in reform bill
April 16, 2010 04:28 PM ET
WASHINGTON (Reuters) - President Barack Obama said on Friday he would veto a financial regulation law that did not bring the derivatives market "under control," as fellow Democrats toughened planned restraints on Wall Street and regulators charged major bank Goldman Sachs with fraud.

Full Article
BofA profit beats expectations, revenue lower
April 16, 2010 03:21 PM ET
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp posted its first quarterly profit since summer 2009 as it generated outsized bond trading revenue and set aside less money to cover bad loans.

Full Article
Google shares slide amid Schmidt speculation
April 16, 2010 03:14 PM ET
SAN FRANCISCO (Reuters) - Google Inc shares fell more than 6 percent on Friday after the company's quarterly results disappointed the most bullish on Wall Street, and some analysts cut price targets on the stock.

Full Article
Home construction rises, consumer morale ebbs
April 16, 2010 02:59 PM ET
WASHINGTON (Reuters) - Permits to build new U.S. homes surged in March to a 17-month peak and construction activity was the most vigorous in more than a year, providing fresh evidence that economic prospects are brightening.

Full Article
Bair: Regulators clashed ahead of WaMu crash
April 16, 2010 02:28 PM ET
WASHINGTON (Reuters) - The chairman of the Federal Deposit Insurance Corp on Friday said that for years before Washington Mutual became the biggest bank bust in U.S. history, the agency was prevented from examining the bank by a rival regulator.

Full Article
China still sees managed floating FX system: Hu
April 16, 2010 02:07 PM ET
BRASILIA (Reuters) - China remains on course to gradually put in place a managed floating exchange rate system, President Hu Jintao said in a speech released on Friday amid pressure on Beijing to let its yuan currency strengthen.

Full Article
Fed should exit easy policy "deliberately": Hoenig
April 16, 2010 03:13 PM ET
NEW YORK (Reuters) - The U.S. central bank's withdrawal of extraordinary monetary stimulus for the economy should be done as deliberately as possible, a senior Federal Reserve official said on Friday.

Full Article
REUTERSwww.reuters.com