August 5th, 2012
(RussiaToday) – The Criminal CFO behind one of the largest uncovered during the 80′s says if he didn’t get caught he’d being doing it today because it’s now easier than ever.
Welcome to Capital Account. The dark Knight rises as dark pools of liquidity traded by robot computer algorithms went awry and threatened Knight Capital’s stability, costing the firm $440 million. This is just one more issue with broker dealers and markets, and one more blow to confidence in the US financial system. We hear from a former fraudster, Sam Antar, and the Commodity Customer Coalition Founders, James Koutoulas and John Roe, about how to restore faith in a broken system.
Remember ‘Crazy Eddie,’ home to the one of the largest securities frauds uncovered during the 1980s? The criminal CFO, Sam Antar, who helped mastermind the scheme, said he did it for fun and profit, and if he had not been caught, he would still be doing it today. What does this mean for the bigger picture about what is happening on Wall Street? The bad and arguably criminal actions at firms that helped cause the financial crisis have gone largely unpunished. We talk to the former Crazy Eddie CFO, Sam Antar, about it.
Plus the ECB disappoints today as Mario Draghi fails to deliver a “whatever it takes” plan. Is this back to crisis as usual and how is the private sector dealing? Well one company seems to hope sex not only sells but also shames people back into Spain’s ailing real estate market.